BlackRock, Inc. (BLK) Key Metrics
BLK valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $184.31B
- Enterprise value
- $165.40B
- P/E (TTM)
- 25.8 10-yr median 21.5
- Forward P/E
- 16.4
- PEG ratio
- 0.89
- Price / sales
- 6.5 10-yr median 6.5
- Price / book
- 2.9 10-yr median 2.9
- EV / EBITDA
- 14.8 10-yr median 16.8
- Dividend yield
- 1.93% $22.92 a year
- Beta
- 1.42
BLK key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsBLK valuation Price multiples at each fiscal year-end price.
BLK returns How much profit the business earns on the capital it uses.
BLK per-share figures Results divided by the shares outstanding at year-end.
BLK financial health Debt, liquidity and how easily interest is covered.
BLK efficiency & capital use Working capital cycle and where the cash goes.
BLK valuation history
BLK returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
BLK debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
BLK cash returned to shareholders
BLK price vs earnings per share
BLK key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $172.22B | $155.41B | $122.34B | $108.02B | $141.37B | $111.72B | $79.15B | $63.87B | $84.80B | $63.64B |
| Enterprise value | $172.96B | $155.04B | $121.44B | $107.77B | $141.36B | $111.07B | $79.43B | $63.36B | $82.78B | $63.08B |
| P/E ratio | 31.0 | 24.4 | 22.2 | 20.9 | 24.0 | 22.7 | 17.7 | 14.8 | 17.1 | 20.1 |
| Price / sales | 7.1 | 7.6 | 6.9 | 6.0 | 7.3 | 6.9 | 5.4 | 4.5 | 6.2 | 5.2 |
| Price / book | 3.1 | 3.3 | 3.1 | 2.9 | 3.8 | 3.0 | 2.3 | 1.9 | 2.6 | 2.2 |
| Price / free cash flow | 48.5 | 33.1 | 32.0 | 24.4 | 30.7 | 31.5 | 30.1 | 22.2 | 23.1 | 31.3 |
| Price / operating cash flow | 43.9 | 31.4 | 29.4 | 21.8 | 28.6 | 29.8 | 27.4 | 20.8 | 22.2 | 29.5 |
| EV / sales | 7.1 | 7.6 | 6.8 | 6.0 | 7.3 | 6.9 | 5.5 | 4.5 | 6.1 | 5.1 |
| EV / EBITDA | 21.3 | 18.9 | 17.9 | 15.6 | 17.9 | 18.3 | 13.5 | 10.9 | 15.0 | 12.9 |
| EV / free cash flow | 48.7 | 33.0 | 31.8 | 24.4 | 30.7 | 31.3 | 30.2 | 22.1 | 22.5 | 31.0 |
| Earnings yield | 3.2% | 4.1% | 4.5% | 4.8% | 4.2% | 4.4% | 5.7% | 6.7% | 5.8% | 5.0% |
| Free cash flow yield | 2.1% | 3.0% | 3.1% | 4.1% | 3.3% | 3.2% | 3.3% | 4.5% | 4.3% | 3.2% |
| Dividend yield | 1.9% | 2.0% | 2.5% | 2.8% | 1.8% | 2.0% | 2.6% | 3.1% | 2.0% | 2.4% |
| Shareholder yield (dividends + buybacks) | 3.1% | 3.2% | 4.0% | 4.9% | 2.9% | 3.6% | 5.1% | 6.3% | 3.6% | 4.6% |
| Share price at fiscal year-end | $1,070.34 | $1,025.11 | $811.80 | $708.63 | $915.56 | $721.54 | $502.70 | $392.82 | $513.71 | $380.54 |
| Per share | ||||||||||
| Revenue per share | $150.50 | $134.61 | $118.50 | $117.25 | $125.48 | $104.66 | $92.33 | $87.32 | $82.39 | $73.31 |
| Earnings per share | $34.51 | $42.01 | $36.51 | $33.97 | $38.22 | $31.85 | $28.43 | $26.48 | $30.00 | $18.97 |
| Operating cash flow per share | $24.41 | $32.69 | $27.64 | $32.51 | $32.02 | $24.17 | $18.32 | $18.91 | $23.19 | $12.88 |
| Free cash flow per share | $22.08 | $31.01 | $25.35 | $29.01 | $29.81 | $22.92 | $16.70 | $17.66 | $22.25 | $12.17 |
| Cash per share | $88.61 | $96.21 | $70.38 | $57.38 | $60.38 | $55.95 | $30.67 | $39.90 | $42.64 | $36.92 |
| Book value per share | $347.35 | $313.29 | $261.08 | $247.60 | $244.12 | $243.19 | $221.83 | $206.27 | $195.61 | $175.45 |
| Tangible book value per share | −$45.76 | $5.30 | $36.93 | $26.90 | $25.19 | $31.27 | $12.69 | $13.38 | $10.19 | −$6.80 |
| Dividends per share | $20.80 | $20.46 | $20.14 | $19.61 | $16.50 | $14.60 | $13.31 | $12.10 | $10.07 | $9.24 |
| Capex per share | $2.33 | $1.68 | $2.28 | $3.50 | $2.21 | $1.25 | $1.61 | $1.25 | $0.94 | $0.71 |
| Debt per share | $93.20 | $93.81 | $64.38 | $55.69 | $60.35 | $51.76 | $32.43 | $36.77 | $30.37 | $33.57 |
| Shares outstanding | 160.9M | 151.6M | 150.7M | 152.4M | 154.4M | 154.8M | 157.5M | 162.6M | 165.1M | 167.2M |
| Change in shares outstanding | +6.1% | +0.6% | −1.1% | −1.3% | −0.3% | −1.7% | −3.2% | −1.5% | −1.3% | −1.5% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 10.7% | 14.7% | 14.3% | 13.7% | 15.7% | 13.6% | 13.1% | 13.1% | 16.1% | 10.9% |
| Return on invested capital (ROIC) | 10.6% | 13.9% | 13.1% | 13.5% | 15.1% | 12.8% | 12.7% | 13.8% | 16.9% | 11.5% |
| Return on assets (ROA) | 3.6% | 4.9% | 4.6% | 3.8% | 3.6% | 2.9% | 2.7% | 2.3% | 2.2% | 1.4% |
| Return on tangible assets | 5.2% | 6.9% | 6.2% | 6.2% | 5.0% | 3.4% | 3.3% | 3.4% | 2.6% | 1.7% |
| Free cash flow margin | 14.7% | 23.0% | 21.4% | 24.7% | 23.8% | 21.9% | 18.1% | 20.2% | 27.0% | 16.6% |
| Income quality (OCF / net income) | 0.71 | 0.78 | 0.76 | 0.96 | 0.84 | 0.76 | 0.64 | 0.71 | 0.77 | 0.68 |
| Financial health | ||||||||||
| Total debt | $15.00B | $14.22B | $9.70B | $8.49B | $9.32B | $8.01B | $5.11B | $5.98B | $5.01B | $5.62B |
| Cash & short-term investments | $14.26B | $14.59B | $10.61B | $8.75B | $9.32B | $8.66B | $4.83B | $6.49B | $7.04B | $6.17B |
| Net debt | $739.0M | −$363.0M | −$905.0M | −$258.0M | −$5.0M | −$650.0M | $278.0M | −$509.0M | −$2.02B | −$560.0M |
| Debt / equity | 0.27 | 0.30 | 0.25 | 0.22 | 0.25 | 0.21 | 0.15 | 0.18 | 0.16 | 0.19 |
| Debt / assets | 0.09 | 0.10 | 0.08 | 0.07 | 0.06 | 0.05 | 0.03 | 0.04 | 0.02 | 0.03 |
| Net debt / EBITDA | 0.09 | −0.04 | −0.13 | −0.04 | −0.00 | −0.11 | 0.05 | −0.09 | −0.37 | −0.11 |
| Current ratio | 15.76 | 16.40 | 15.63 | 14.08 | 14.45 | 27.92 | 20.11 | 25.14 | 30.51 | 34.12 |
| Quick ratio | 15.76 | 16.40 | 15.63 | 14.08 | −1.39 | −0.89 | −0.80 | 1.42 | 31.18 | 34.64 |
| Interest coverage | 10.0 | 14.1 | 21.5 | 30.1 | 36.3 | 27.8 | 27.3 | 29.7 | 25.6 | 22.3 |
| Working capital | $25.68B | $23.65B | $18.14B | $16.93B | $18.80B | $27.68B | $22.31B | $31.19B | $34.26B | $36.23B |
| Invested capital | $56.63B | $47.13B | $38.44B | $37.49B | $37.69B | $37.01B | $35.21B | $33.03B | $30.27B | $28.78B |
| Tangible asset value | −$1.71B | $2.66B | $7.46B | $5.14B | $5.09B | $4.84B | $2.00B | $2.17B | $1.68B | −$1.14B |
| Net current asset value | −$81.03B | −$64.07B | −$62.59B | −$60.62B | −$93.56B | −$110.62B | −$110.22B | −$93.55B | −$152.51B | −$153.51B |
| Graham number | $519.35 | $544.19 | $463.10 | $435.01 | $458.17 | $417.48 | $376.67 | $350.54 | $363.36 | $273.62 |
| Graham net-net per share | −$561.41 | −$470.57 | −$453.02 | −$442.03 | −$586.29 | −$731.09 | −$725.76 | −$616.35 | −$1,079.10 | −$1,090.73 |
| Capital allocation | ||||||||||
| Dividends paid | $3.35B | $3.10B | $3.04B | $2.99B | $2.55B | $2.26B | $2.10B | $1.97B | $1.66B | $1.54B |
| Share buybacks (net) | $1.95B | $1.93B | $1.88B | $2.33B | $1.49B | $1.81B | $1.91B | $2.09B | $1.42B | $1.40B |
| Dividend payout ratio | 60.3% | 48.7% | 55.2% | 57.7% | 43.2% | 45.8% | 46.8% | 45.7% | 33.6% | 48.7% |
| Dividends + buybacks / free cash flow | 149.2% | 107.0% | 128.7% | 120.3% | 87.6% | 114.7% | 152.4% | 141.2% | 83.9% | 144.7% |
| Capex / revenue | 1.5% | 1.2% | 1.9% | 3.0% | 1.8% | 1.2% | 1.7% | 1.4% | 1.1% | 1.0% |
| Capex / operating cash flow | 9.5% | 5.1% | 8.3% | 10.8% | 6.9% | 5.2% | 8.8% | 6.6% | 4.0% | 5.5% |
| Capex / depreciation | 0.33 | 0.48 | 0.81 | 1.28 | 0.82 | 0.54 | 0.63 | 0.93 | 0.65 | 0.45 |
| Stock-based compensation / revenue | 5.4% | 3.7% | 3.5% | 4.0% | 3.8% | 3.8% | 3.9% | 4.0% | 4.0% | 4.2% |
| R&D / revenue | 0.8% | 3.3% | 3.4% | 3.4% | 2.6% | 0.0% | 0.0% | 0.0% | 0.0% | 1.4% |
| SG&A / revenue | 10.8% | 9.5% | 10.0% | 10.1% | 10.1% | 15.1% | 11.7% | 11.1% | 10.6% | 10.4% |
| Efficiency | ||||||||||
| Days sales outstanding | 72.4 | 76.6 | 79.1 | 75.6 | 69.0 | 75.6 | 106.9 | 122.5 | 101.3 | 98.6 |
| Days of inventory on hand | — | — | — | — | 988.2 | 1,241.8 | 1,408.5 | 779.5 | -36.0 | -37.6 |
| Days payables outstanding | — | 45.2 | 46.4 | 47.8 | 40.2 | 47.4 | 62.9 | 64.0 | 60.4 | 63.2 |
| Cash conversion cycle (days) | — | 31.4 | 32.7 | 27.8 | 1,017.0 | 1,270.0 | 1,452.5 | 838.0 | 4.9 | -2.2 |
| Receivables turnover | 5.04 | 4.76 | 4.62 | 4.83 | 5.29 | 4.83 | 3.41 | 2.98 | 3.60 | 3.70 |
| Payables turnover | — | 8.07 | 7.87 | 7.63 | 9.08 | 7.69 | 5.80 | 5.70 | 6.04 | 5.78 |
| Inventory turnover | — | — | — | — | 0.37 | 0.29 | 0.26 | 0.47 | — | — |
| Asset turnover | 0.16 | 0.16 | 0.15 | 0.13 | 0.12 | 0.09 | 0.09 | 0.07 | 0.06 | 0.06 |
| Average receivables | $4.80B | $4.29B | $3.87B | $3.70B | $3.66B | $3.36B | $4.26B | $4.76B | $3.77B | $3.31B |
| Average payables | — | $1.28B | $1.18B | $1.20B | $1.05B | $1.03B | $1.23B | $1.23B | $1.13B | $1.08B |
| Average inventory | — | — | — | — | $25.87B | $27.01B | $27.53B | $14.93B | −$672.5M | −$643.0M |
| Intangibles / total assets | 37.2% | 33.7% | 27.4% | 28.6% | 22.1% | 18.5% | 19.5% | 19.7% | 13.9% | 13.8% |
Computed from BLK's annual financial statements (latest annual report filed February 25, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
BLK valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), BlackRock traded at 31.0 times earnings, against a 10-year median of 21.5. Based on the latest twelve months, the trailing P/E is 25.8 and the forward P/E is 16.4. BlackRock earned a return on equity of 10.7% and a return on invested capital of 10.6% in fiscal 2025. It ended the year with $15.0 billion of debt and $14.3 billion in cash and short-term investments, net debt of $739.0 million. It returned $5.3 billion to shareholders: $3.3 billion in dividends and $2.0 billion in share buybacks, 149% of free cash flow. The share count fell 3.8% from 167.2M to 160.9M over 9 years.
See the BLK income statement, the BLK chart for price history, or the BLK stock overview for the latest quote and news.
BLK key metrics FAQ
What is BlackRock's P/E ratio?
BlackRock's trailing P/E ratio is 25.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 16.4. At the end of fiscal 2025 it was 31.0, compared with a 10-year median of 21.5.
What is BlackRock's EV/EBITDA?
BlackRock's enterprise value was 21.3 times EBITDA at the end of fiscal 2025 (enterprise value $173.0 billion, EBITDA $8.1 billion); the current EV/EBITDA is 14.8.
What is BlackRock's return on equity?
BlackRock's return on equity (ROE) was 10.7% in fiscal 2025: net income of $5.6 billion on average shareholders' equity of $51.7 billion.
What is BlackRock's ROIC?
BlackRock's return on invested capital was 10.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does BlackRock have?
BlackRock had total debt of $15.0 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.27 and $739.0 million of net debt (0.09 times EBITDA).
What is BlackRock's dividend yield?
BlackRock's forward dividend yield is 1.93%. BlackRock paid $3.3 billion in dividends in fiscal 2025 ($20.80 per share), a payout ratio of 60.3%.
Does BlackRock buy back its shares?
Yes. BlackRock spent $2.0 billion on net share repurchases in fiscal 2025 Shares outstanding changed +6.1% over the year, to 160.9M..
What is BlackRock's free cash flow yield?
BlackRock generated $3.6 billion of free cash flow in fiscal 2025, a free cash flow yield of 2.1% on its market value at year-end ($172.2 billion).
What is BlackRock's current ratio?
BlackRock's current ratio was 15.76 at the end of fiscal 2025: current assets were 15.76 times current liabilities.