BlackRock: scale helps, but markets and fee pressure still set the evidence bar

BlackRock reported 2025 revenue of $24.2 billion and Q1 2026 revenue of $6.7 billion. The thesis depends on net flows, market levels, fee realization, operating leverage and cash conversion.

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BlackRock reported 2025 revenue of $24.2 billion and Q1 2026 revenue of $6.7 billion. The thesis depends on net flows, market levels, fee realization, operating leverage and cash conversion.

References

Sources used in this report

SEC datasetSEC company tickers exchange datasetRetrieved 2026-05-19 · Issuer identity, ticker, exchange and CIK.SEC APISEC submissions APIRetrieved 2026-05-19 · Company identity, filing chronology and filing metadata.SEC XBRL APISEC companyfacts APIRetrieved 2026-05-19 · XBRL financial statement baseline.Annual reportBlackRock, Inc. annual report2026-02-25 · Annual business, risk and financial baseline.Quarterly reportBlackRock, Inc. latest quarterly report2026-05-06 · Latest interim financial baseline.Current reportBlackRock, Inc. Form 8-K2026-04-14 · Recent company filing chronology.Proxy statementBlackRock, Inc. proxy statement2026-04-10 · Governance and incentive context.