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BlackRock

NYSE:BLK
Snowflake Description

Excellent balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BLK
NYSE
$74B
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

BlackRock, Inc. is a publicly owned investment manager. The last earnings update was 7 days ago. More info.


Add to Portfolio Compare Print
  • BlackRock is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
BLK Share Price and Events
7 Day Returns
1.6%
NYSE:BLK
-0.2%
US Capital Markets
-0.1%
US Market
1 Year Returns
-7.7%
NYSE:BLK
-6.8%
US Capital Markets
7.6%
US Market
BLK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
BlackRock (BLK) 1.6% 13.6% 16% -7.7% 29.5% 57.7%
US Capital Markets -0.2% 7.5% 4.2% -6.8% 53.7% 71.5%
US Market -0.1% 3.7% 10.2% 7.6% 38.1% 46.4%
1 Year Return vs Industry and Market
  • BLK underperformed the Market in United States of America which returned 7.6% over the past year.
Price Volatility
BLK
Industry
5yr Volatility vs Market

Value

 Is BlackRock undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of BlackRock to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for BlackRock.

NYSE:BLK Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 7 analysts.
= Stable Book Value * Return on Equity
= $222.97 * 13.6%
$30.26
Book Value of Equity per Share Weighted future Book Value estimates from 4 analysts. $222.97
Discount Rate (Cost of Equity) See below 7.8%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:BLK
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.727 (1 + (1- 21%) (6.87%))
0.843
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.843 * 5.96%)
7.76%

Discounted Cash Flow Calculation for NYSE:BLK using Excess Returns Model Model

The calculations below outline how an intrinsic value for BlackRock is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NYSE:BLK Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (13.6% – 7.76%) * $222.97)
$12.97
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $12.97 / (7.76% - 2.73%)
$257.97
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $222.97 + $257.97
$480.94
NYSE:BLK Discount to Share Price
Calculation Result
Value per share (USD) From above. $480.94
Current discount Discount to share price of $474.03
= -1 x ($474.03 - $480.94) / $480.94
1.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price BlackRock is available for.
Intrinsic value
1%
Share price is $474.03 vs Future cash flow value of $480.94
Current Discount Checks
For BlackRock to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • BlackRock's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • BlackRock's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for BlackRock's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are BlackRock's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:BLK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $26.76
NYSE:BLK Share Price ** NYSE (2019-04-23) in USD $474.03
United States of America Capital Markets Industry PE Ratio Median Figure of 87 Publicly-Listed Capital Markets Companies 30.49x
United States of America Market PE Ratio Median Figure of 3,080 Publicly-Listed Companies 18.03x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of BlackRock.

NYSE:BLK PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:BLK Share Price ÷ EPS (both in USD)

= 474.03 ÷ 26.76

17.72x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • BlackRock is good value based on earnings compared to the US Capital Markets industry average.
  • BlackRock is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does BlackRock's expected growth come at a high price?
Raw Data
NYSE:BLK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.72x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
3.4%per year
United States of America Capital Markets Industry PEG Ratio Median Figure of 34 Publicly-Listed Capital Markets Companies 2.66x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.55x

*Line of best fit is calculated by linear regression .

NYSE:BLK PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.72x ÷ 3.4%

5.23x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • BlackRock is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on BlackRock's assets?
Raw Data
NYSE:BLK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $204.23
NYSE:BLK Share Price * NYSE (2019-04-23) in USD $474.03
United States of America Capital Markets Industry PB Ratio Median Figure of 169 Publicly-Listed Capital Markets Companies 7.74x
United States of America Market PB Ratio Median Figure of 5,185 Publicly-Listed Companies 1.92x
NYSE:BLK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:BLK Share Price ÷ Book Value per Share (both in USD)

= 474.03 ÷ 204.23

2.32x

* Primary Listing of BlackRock.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • BlackRock is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess BlackRock's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. BlackRock has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is BlackRock expected to perform in the next 1 to 3 years based on estimates from 13 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
3.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is BlackRock expected to grow at an attractive rate?
  • BlackRock's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • BlackRock's earnings growth is positive but not above the United States of America market average.
  • BlackRock's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:BLK Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:BLK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts 3.4%
NYSE:BLK Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 7.3%
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 6.9%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.5%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:BLK Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 weeks ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:BLK Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 19,961 1
2022-12-31 18,473 1
2021-12-31 16,337 4,506 6
2020-12-31 15,345 4,993 4,659 13
2019-12-31 14,346 4,751 4,363 13
NYSE:BLK Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 13,961 4,269
2018-12-31 14,198 3,075 4,305
2018-09-30 13,419 3,840 5,691
2018-06-30 13,351 3,935 5,419
2018-03-31 12,982 3,851 5,200
2017-12-31 13,600 3,950 4,952
2017-09-30 12,726 3,732 3,508
2017-06-30 12,055 3,432 3,439
2017-03-31 11,623 2,555 3,374
2016-12-31 12,261 2,273 3,168
2016-09-30 11,128 2,119 3,182
2016-06-30 11,201 2,410 3,150

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • BlackRock's earnings are expected to grow by 3.4% yearly, however this is not considered high growth (20% yearly).
  • BlackRock's revenue is expected to grow by 7.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:BLK Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 weeks ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below

All data from BlackRock Company Filings, last reported 3 weeks ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:BLK Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 29.42 33.65 25.19 2.00
2020-12-31 29.97 31.80 26.39 8.00
2019-12-31 27.74 28.95 26.90 8.00
NYSE:BLK Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 26.76
2018-12-31 26.86
2018-09-30 35.37
2018-06-30 33.59
2018-03-31 32.15
2017-12-31 30.54
2017-09-30 21.56
2017-06-30 21.06
2017-03-31 20.59
2016-12-31 19.27
2016-09-30 19.28
2016-06-30 19.03

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • BlackRock is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess BlackRock's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
BlackRock has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has BlackRock performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare BlackRock's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • BlackRock's year on year earnings growth rate has been positive over the past 5 years.
  • BlackRock's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • BlackRock's 1-year earnings growth is negative, it can't be compared to the US Capital Markets industry average.
Earnings and Revenue History
BlackRock's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from BlackRock Company Filings, last reported 3 weeks ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:BLK Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 13,961.00 4,269.00 1,578.00
2018-12-31 14,198.00 4,305.00 1,573.00
2018-09-30 13,419.00 5,691.00 1,618.00
2018-06-30 13,351.00 5,419.00 1,582.00
2018-03-31 12,982.00 5,200.00 1,537.00
2017-12-31 13,600.00 4,952.00 1,438.00
2017-09-30 12,726.00 3,508.00 1,352.00
2017-06-30 12,055.00 3,439.00 1,316.00
2017-03-31 11,623.00 3,374.00 1,283.00
2016-12-31 12,261.00 3,168.00 1,280.00
2016-09-30 11,128.00 3,182.00 1,356.00
2016-06-30 11,201.00 3,150.00 1,363.00
2016-03-31 11,302.00 3,180.00 1,359.00
2015-12-31 11,401.00 3,345.00 1,380.00
2015-09-30 11,322.00 3,297.00 1,357.00
2015-06-30 11,261.00 3,371.00 1,414.00
2015-03-31 11,134.00 3,360.00 1,479.00
2014-12-31 11,081.00 3,294.00 1,453.00
2014-09-30 11,074.00 3,322.00 1,476.00
2014-06-30 10,697.00 3,135.00 1,434.00
2014-03-31 10,401.00 3,056.00 1,398.00
2013-12-31 10,180.00 2,932.00 1,416.00
2013-09-30 9,942.00 2,780.00 1,399.00
2013-06-30 9,790.00 2,690.00 1,400.00
2013-03-31 9,537.00 2,515.00 1,383.00
2012-12-31 9,337.00 2,455.00 1,359.00
2012-09-30 9,025.00 2,320.00 1,307.00
2012-06-30 8,930.00 2,268.00 1,317.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • BlackRock has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • BlackRock used its assets more efficiently than the US Capital Markets industry average last year based on Return on Assets.
  • BlackRock has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess BlackRock's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
BlackRock has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is BlackRock's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up BlackRock's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • BlackRock is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • BlackRock's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of BlackRock's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 6.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from BlackRock Company Filings, last reported 3 weeks ago.

NYSE:BLK Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 33,540.00 5,063.00 9,169.00
2018-12-31 33,540.00 5,063.00 9,169.00
2018-09-30 33,073.00 5,035.00 8,801.00
2018-06-30 32,870.00 4,994.00 8,709.00
2018-03-31 32,583.00 5,036.00 7,022.00
2017-12-31 32,264.00 5,014.00 8,732.00
2017-09-30 30,417.00 5,000.00 6,885.00
2017-06-30 29,887.00 4,970.00 6,249.00
2017-03-31 29,515.00 5,619.00 6,683.00
2016-12-31 29,344.00 4,915.00 7,293.00
2016-09-30 29,561.00 4,961.00 6,222.00
2016-06-30 29,155.00 4,950.00 5,865.00
2016-03-31 28,986.00 4,968.00 5,750.00
2015-12-31 29,044.00 4,930.00 6,951.00
2015-09-30 28,481.00 4,950.00 6,314.00
2015-06-30 28,130.00 4,947.00 5,564.00
2015-03-31 27,656.00 8,902.00 5,375.00
2014-12-31 27,520.00 8,311.00 6,473.00
2014-09-30 27,284.00 8,826.00 6,738.00
2014-06-30 27,066.00 8,635.00 5,884.00
2014-03-31 26,701.00 8,180.00 5,093.00
2013-12-31 26,670.00 7,308.00 4,979.00
2013-09-30 26,186.00 7,006.00 4,528.00
2013-06-30 25,825.00 7,083.00 4,161.00
2013-03-31 25,667.00 8,019.00 4,481.00
2012-12-31 25,617.00 8,189.00 5,120.00
2012-09-30 25,309.00 8,129.00 4,586.00
2012-06-30 24,922.00 7,724.00 3,808.00
  • BlackRock's level of debt (15.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (30.6% vs 15.1% today).
  • Debt is well covered by operating cash flow (60.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 82.4x coverage).
X
Financial health checks
We assess BlackRock's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. BlackRock has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is BlackRock's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.78%
Current annual income from BlackRock dividends. Estimated to be 2.95% next year.
If you bought $2,000 of BlackRock shares you are expected to receive $56 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • BlackRock's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.4%).
  • BlackRock's dividend is below the markets top 25% of dividend payers in United States of America (3.64%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:BLK Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
United States of America Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 43 Stocks 2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2008 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:BLK Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 15.19 6.00
2020-12-31 14.13 13.00
2019-12-31 13.31 13.00
NYSE:BLK Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-16 13.200 2.823
2019-02-28 13.200 3.035
2019-01-16 13.200 3.135
2018-11-20 12.520 3.167
2018-07-17 12.520 2.759
2018-05-23 11.520 2.211
2018-01-12 11.520 2.128
2017-11-16 10.000 1.966
2017-07-20 10.000 2.260
2017-05-25 10.000 2.368
2017-05-09 10.000 2.564
2017-04-19 10.000 2.605
2017-02-28 10.000 2.610
2017-01-13 10.000 2.619
2016-11-30 9.160 2.385
2016-07-20 9.160 2.526
2016-05-25 9.160 2.624
2016-01-15 9.160 2.769
2015-11-17 8.720 2.585
2015-07-30 8.720 2.713
2015-05-28 8.720 2.485
2015-05-08 8.720 2.365
2015-04-16 8.720 2.363
2015-02-27 8.720 2.363
2015-01-15 8.720 2.412
2014-11-19 7.720 2.181
2014-07-23 7.720 2.375
2014-05-29 7.720 2.443
2014-01-16 7.720 2.545
2013-11-21 6.720 2.185
2013-07-25 6.720 2.389
2013-05-30 6.720 2.502
2013-01-17 6.720 2.646
2012-07-26 6.000 3.185
2012-05-24 6.000 3.505
2012-02-23 6.000 3.122
2011-09-27 5.500 3.255
2011-06-22 5.500 3.274
2011-05-25 5.500 2.860
2011-02-24 5.500 2.828
2010-11-11 4.000 2.146
2010-06-24 4.000 2.526
2010-04-29 4.000 2.416
2010-02-25 4.000 1.898
2009-11-20 3.120 1.380
2009-07-30 3.120 1.477
2009-05-21 3.120 1.821
2009-04-24 3.120 2.137

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of BlackRock's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.4x coverage).
X
Income/ dividend checks
We assess BlackRock's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can BlackRock afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. BlackRock has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of BlackRock's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Larry Fink
COMPENSATION $26,543,344
AGE 65
TENURE AS CEO 21.3 years
CEO Bio

Mr. Laurence Douglas Fink, also known as Larry, is the Chief Executive Officer and Chairman of BlackRock, Inc. Mr. Fink co-founded the firm in 1988 and focuses on client centric solutions and innovation at the firm. He also serves as the Chairman and Chief Executive Officer at BlackRock Capital Management, Inc. He serves as the Chief Executive Officer and Chairman of BlackRock Fund Advisors. Mr. Fink is the Chief Executive Officer, Chairman and Director of Blackrock Financial Management Inc. He serves as the Chief Executive Officer and Director of BlackRock International Limited and the Chief Executive Officer at BlackRock Institutional Management Corporation. Mr. Fink is the Chief Executive Officer, Senior Managing Director, Chairman and Director of BlackRock Advisors, LLC. He also serves as the Chief Executive Officer and Director of Blackrock Advisors Holdings, Inc. Mr. Fink is the Chief Executive Officer at BlackRock Investment Management, LLC. He serves as an Executive Officer at The PNC Financial Services Group Inc. Previously, Mr. Fink served as a Managing Director and Co-Head of the Taxable Fixed Income Division at The First Boston Corporation. He was responsible for trading and distribution of all government, mortgage and corporate securities at the firm. Mr. Fink also started the firm's financial futures and options department and headed its mortgage and real estate products group. He had joined the firm in 1976. Mr. Fink has also served as the Chief Executive at Private National Mortgage Acceptance Company LLC. He serves as the Chairman of Nomura BlackRock Asset Management Co., Ltd. Mr. Fink is a Director of DSP BlackRock Investment Managers Ltd. He previously served as the Chairman of Anthracite Capital Inc. until September 2005 and was its Director from November 1997 to September 2005. Mr. Fink was a Director of VIMRx Pharmaceuticals Inc., New York Stock Exchange, Inc. and Innovir Laboratories Inc. since December 1996. He is also a Co-Chairman of The Partnership for New York City. He is a Director of Financial Services Roundtable. Mr. Fink was named "CEO of the Decade" by Financial News in 2011 and has been named one of the "World's Best CEO's" by Barron's for seven consecutive years. He earned an M.B.A. degree with a concentration in Real Estate from the UCLA Anderson School of Management in 1976 and a B.A. degree in Political Science from the University of California-Los Angeles in 1974.

CEO Compensation
  • Larry's compensation has been consistent with company performance over the past year.
  • Larry's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the BlackRock management team in years:

5.9
Average Tenure
53
Average Age
  • The average tenure for the BlackRock management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Larry Fink

TITLE
Chairman & CEO
COMPENSATION
$27M
AGE
65
TENURE
21.3 yrs

Rob Kapito

TITLE
President & Director
COMPENSATION
$21M
AGE
62
TENURE
11.6 yrs

Gary Shedlin

TITLE
Senior MD & CFO
COMPENSATION
$7M
AGE
55
TENURE
5.9 yrs

Rob Goldstein

TITLE
Senior MD
COMPENSATION
$8M
AGE
44
TENURE
4.8 yrs

Rich Kushel

TITLE
Senior MD and Head of Multi-Asset Strategies & Global Fixed Income Groups
COMPENSATION
$7M
AGE
51
TENURE
9.3 yrs

Mark McKenna

TITLE
Founder

Marc Comerchero

TITLE
MD & Chief Accounting Officer
AGE
45
TENURE
3.1 yrs

Derek Stein

TITLE
Senior MD and Global Head of Technology & Operations
AGE
56

Samantha Tortora

TITLE
Investor Relations Contact

Chris Meade

TITLE
General Counsel & Chief Legal Officer
AGE
49
TENURE
2.4 yrs
Board of Directors Tenure

Average tenure and age of the BlackRock board of directors in years:

8.3
Average Tenure
63
Average Age
  • The tenure for the BlackRock board of directors is about average.
Board of Directors

Rob Fairbairn

TITLE
Vice Chairman of the Board
COMPENSATION
$7M
AGE
52

Larry Fink

TITLE
Chairman & CEO
COMPENSATION
$27M
AGE
65
TENURE
20.3 yrs

Rob Kapito

TITLE
President & Director
COMPENSATION
$21M
AGE
62
TENURE
12.5 yrs

Deryck Maughan

TITLE
Director
COMPENSATION
$318K
AGE
70
TENURE
12.5 yrs

Ivan Seidenberg

TITLE
Director
COMPENSATION
$321K
AGE
71
TENURE
8.3 yrs

Pam Daley

TITLE
Director
COMPENSATION
$317K
AGE
65
TENURE
5.3 yrs

Gord Nixon

TITLE
Director
COMPENSATION
$312K
AGE
61
TENURE
3.5 yrs

Murry Gerber

TITLE
Lead Independent Director
COMPENSATION
$383K
AGE
64
TENURE
1.9 yrs

Bill Demchak

TITLE
Director
AGE
56
TENURE
16.3 yrs

Sue Wagner

TITLE
Independent Director
COMPENSATION
$282K
AGE
57
TENURE
6.5 yrs
Who owns this company?
Recent Insider Trading
  • BlackRock insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
18. Apr 19 Sell Gary Shedlin Individual 17. Apr 19 17. Apr 19 -2,750 $467.99 $-1,286,982
17. Apr 19 Sell Jeffrey Smith Individual 17. Apr 19 17. Apr 19 -300 $468.22 $-140,465
04. Mar 19 Sell Robert Goldstein Individual 04. Mar 19 04. Mar 19 -5,133 $443.00 $-2,273,919
15. Feb 19 Sell Marc Comerchero Individual 15. Feb 19 15. Feb 19 -600 $432.22 $-259,330
15. Feb 19 Sell Jeffrey Smith Individual 15. Feb 19 15. Feb 19 -225 $431.01 $-96,977
13. Feb 19 Sell Rachel Lord Individual 13. Feb 19 13. Feb 19 -3,863 $426.70 $-1,648,342
13. Feb 19 Sell Laurence Fink Individual 11. Feb 19 11. Feb 19 -44,000 $414.11 $-18,160,869
07. Feb 19 Sell Mark McCombe Individual 06. Feb 19 06. Feb 19 -3,000 $417.04 $-1,251,120
07. Feb 19 Sell Jeffrey Smith Individual 05. Feb 19 05. Feb 19 -2,250 $415.78 $-935,515
01. Feb 19 Sell Laurence Fink Individual 31. Jan 19 31. Jan 19 -9,048 $413.19 $-3,734,558
31. Jan 19 Sell Gary Shedlin Individual 29. Jan 19 31. Jan 19 -5,400 $410.91 $-2,218,004
29. Jan 19 Sell J. Kushel Individual 29. Jan 19 29. Jan 19 -3,077 $409.29 $-1,259,396
29. Jan 19 Sell Laurence Fink Individual 25. Jan 19 25. Jan 19 -5,120 $413.36 $-2,113,346
22. Jan 19 Sell Laurence Fink Individual 18. Jan 19 22. Jan 19 -30,832 $420.21 $-12,897,623
27. Nov 18 Sell J. Kushel Individual 26. Nov 18 26. Nov 18 -2,100 $419.11 $-880,129
22. Oct 18 Buy William Ford Individual 22. Oct 18 22. Oct 18 2,000 $395.21 $790,419
18. Oct 18 Buy William Ford Individual 17. Oct 18 17. Oct 18 2,000 $409.59 $819,176
02. Aug 18 Buy William Ford Individual 02. Aug 18 02. Aug 18 1,000 $467.92 $467,919
20. Jul 18 Sell Laurence Fink Individual 18. Jul 18 18. Jul 18 -19,800 $511.31 $-10,051,885
18. Jul 18 Buy William Ford Individual 18. Jul 18 18. Jul 18 1,000 $507.98 $507,983
21. May 18 Sell Jeffrey Smith Individual 21. May 18 21. May 18 -166 $546.13 $-90,657
10. May 18 Buy William Ford Individual 09. May 18 09. May 18 1,000 $530.95 $530,949
24. Apr 18 Sell Jeffrey Smith Individual 24. Apr 18 24. Apr 18 -500 $515.84 $-257,922
X
Management checks
We assess BlackRock's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. BlackRock has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

At US$503, Is It Time To Buy BlackRock Inc (NYSE:BLK)?

received a lot of attention from a substantial price movement on the NYSE over the last few months, increasing to $551.86 at one point, and dropping to the lows of $491.29. … A question to answer is whether BlackRock's current trading price of $502.92 reflective of the actual value of the? … Let’s take a look at BlackRock’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

What You Must Know About BlackRock Inc's (NYSE:BLK) Major Investors

In this article, I will take a quick look at BlackRock Inc’s (NYSE:BLK) recent ownership structure – an unconventional investing subject, but an important one. … When it comes to ownership structure of a company, the impact has been observed in both the long-and short-term performance of shares. … Differences in ownership structure of companies can have a profound effect on how management's incentives are aligned with shareholder returns, and whether they adhere to corporate governance best practices.

Simply Wall St -

Should You Be Tempted To Buy BlackRock Inc (NYSE:BLK) At Its Current PE Ratio?

This analysis is intended to introduce important early concepts to people who are starting to invest. … and want to better understand how you can grow your money by investing in BlackRock Inc (NYSE:BLK). … While BLK might seem like an attractive stock to buy, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions

Simply Wall St -

Is BlackRock Inc (NYSE:BLK) Worth US$0522.74 Based On Intrinsic Value?

One of the most difficult industry to value is capital markets, given that they adhere to different rules compared to other companies. … Maintaining a certain level of cash capital ratio is common for these financial firms to abide by, in order to minimize risks to their shareholders.

Simply Wall St -

Why BlackRock Inc (NYSE:BLK) Is An Attractive Investment

BlackRock Inc (NYSE:BLK) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … In the following section, I expand a bit more on these key aspects.

Simply Wall St -

BlackRock Inc (NYSE:BLK): Dividend Is Coming In 3 Days, Should You Buy?

View our latest analysis for BlackRock 5 checks you should use to assess a dividend stock If you are a dividend investor, you should always assess these five key metrics: Is it paying an annual yield above 75% of dividend payers? … If there's one type of stock you want to be reliable, it's dividend stocks and their stable income-generating ability. … Given that this is purely a dividend analysis, I recommend taking sufficient time to understand its core business and determine whether the company and its investment properties suit your overall goals.

Simply Wall St -

Does BlackRock Inc (NYSE:BLK) Go Up With The Market?

A widely-used metric to measure a stock's market risk is beta, and the broad market index represents a beta value of one. … With a beta of 1.7, BlackRock is a stock that tends to experience more gains than the market during a growth phase and also a bigger reduction in value compared to the market during a broad downturn. … Therefore, this is a type of risk which is associated with higher beta.

Simply Wall St -

Is BlackRock Inc (NYSE:BLK) Expensive For A Reason? A Look At The Intrinsic Value

Emphasizing data points such as book values, on top of the return and cost of equity, can be practical for determining BLK’s value. … The returns above the cost of equity is known as excess returns: Excess Return Per Share = (Stable Return On Equity – Cost Of Equity) (Book Value Of Equity Per Share) = (14.15% – 8.70%) * $226.32 = $12.34 Excess Return Per Share is used to calculate the terminal value of BLK, which is how much the business is expected to continue to generate over the upcoming years, in perpetuity. … This is a common component of discounted cash flow models: Terminal Value Per Share = Excess Return Per Share / (Cost of Equity – Expected Growth Rate) = $12.34 / (8.70% – 2.47%) = $198.18 Combining these components gives us BLK's intrinsic value per share: Value Per Share = Book Value of Equity Per Share + Terminal Value Per Share = $226.32 + $198.18 = $424.49 Relative to the present share price of $520.4, BLK is currently priced higher than its intrinsic value.

Simply Wall St -

How Does BlackRock Inc's (NYSE:BLK) Earnings Growth Stack Up Against Industry Performance?

In this commentary, I will examine BlackRock Inc's (NYSE:BLK) latest earnings update (31 March 2018) and compare these figures against its performance over the past couple of years, as well as how the rest of the capital markets industry performed. … See our latest analysis for BlackRock Did BLK beat its long-term earnings growth trend and its industry? … Given that these figures may be relatively short-term, I’ve estimated an annualized five-year figure for BLK's earnings, which stands at US$3.10B This shows that, generally, BlackRock has been able to gradually raise its profits over the past couple of years as well.

Simply Wall St -

Is BlackRock Inc (NYSE:BLK) A Sell At Its Current PE Ratio?

It compares a stock’s price per share to the stock’s earnings per share. … Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for BLK Price per share = $525.31 Earnings per share = $30.649 ∴ Price-Earnings Ratio = $525.31 ÷ $30.649 = 17.1x On its own, the P/E ratio doesn’t tell you much; however, it becomes extremely useful when you compare it with other similar companies. … BLK’s P/E of 17.1x is higher than its industry peers (16.6x), which implies that each dollar of BLK’s earnings is being overvalued by investors.

Simply Wall St -

Company Info

Description

BlackRock, Inc. is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks. It also provides global risk management and advisory services. The firm manages separate client-focused equity, fixed income, and balanced portfolios. It also launches and manages open-end and closed-end mutual funds, offshore funds, unit trusts, and alternative investment vehicles including structured funds. The firm launches equity, fixed income, balanced, and real estate mutual funds. It also launches equity, fixed income, balanced, currency, commodity, and multi-asset exchange traded funds. The firm also launches and manages hedge funds. It invests in the public equity, fixed income, real estate, currency, commodity, and alternative markets across the globe. The firm primarily invests in growth and value stocks of small-cap, mid-cap, SMID-cap, large-cap, and multi-cap companies. It also invests in dividend-paying equity securities. The firm invests in investment grade municipal securities, government securities including securities issued or guaranteed by a government or a government agency or instrumentality, corporate bonds, and asset-backed and mortgage-backed securities. It employs fundamental and quantitative analysis with a focus on bottom-up and top-down approach to make its investments. The firm employs liquidity, asset allocation, balanced, real estate, and alternative strategies to make its investments. In real estate sector, it seeks to invest in Poland and Germany. The firm benchmarks the performance of its portfolios against various S&P, Russell, Barclays, MSCI, Citigroup, and Merrill Lynch indices. BlackRock, Inc. was founded in 1988 and is based in New York City with additional offices in Boston, Massachusetts; London, United Kingdom; Gurgaon, India; Hong Kong; Greenwich, Connecticut; Princeton, New Jersey; Edinburgh, United Kingdom; Sydney, Australia; Taipei, Taiwan; Singapore; Sao Paulo, Brazil; Philadelphia, Pennsylvania; Washington, District of Columbia; Toronto, Canada; Wilmington, Delaware; and San Francisco, California.

Details
Name: BlackRock, Inc.
BLK
Exchange: NYSE
Founded: 1988
$73,696,003,522
155,466,961
Website: http://www.blackrock.com
Address: BlackRock, Inc.
55 East 52nd Street,
New York,
New York, 10055,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE BLK Common Stock New York Stock Exchange US USD 01. Oct 1999
DB BLQA Common Stock Deutsche Boerse AG DE EUR 01. Oct 1999
XTRA BLQA Common Stock XETRA Trading Platform DE EUR 01. Oct 1999
LSE 0QZZ Common Stock London Stock Exchange GB USD 01. Oct 1999
SWX BLK Common Stock SIX Swiss Exchange CH CHF 01. Oct 1999
WBAG BLK Common Stock Wiener Boerse AG AT EUR 01. Oct 1999
BMV BLK * Common Stock Bolsa Mexicana de Valores MX MXN 01. Oct 1999
BOVESPA BLAK34 BDR EACH REPR 1/6 COM USD0.01 Bolsa de Valores de Sao Paulo BR BRL 25. Apr 2016
Number of employees
Current staff
Staff numbers
14,900
BlackRock employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 23:33
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/04/16
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.