Blackrock Inc.
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+ FollowMarket Cap$189.55B
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Earnings Call Q3 2026
October 14, 2026 - AI Summary
Strong growth + margin expansion (core “earnings power”): Q3’26 delivered $205B net inflows and 11% organic base fee growth (9th consecutive quarter ≥5% and 5th consecutive quarter ≥8%). Revenue $7.8B (+19% YoY), operating income $3.3B (+27%), EPS $15.93 (+38%). Operating margin: 47.8% (+320 bps YoY). Management emphasized that this is supported by the integrated platform (GIP/HPS/Preqin) and broad-based client activity across public/private/technology.
Outlook: continued high momentum and “all-weather” mix (expectations for fees and spend): Management framed client demand as shifting from inflation uncertainty to AI/technology opportunities, infrastructure, and income investing. They reiterated an expectation that organic base fee durability should remain roughly in a 6–8% sustainable band, with ability to run higher in strong activity periods. They also expect full-year G&A to increase mid-single digits, after annualizing HPS and Preqin impacts, and estimated Q4’26 adjusted tax rate ~25% (with variability risk from discrete/non-recurring items).
Flows mix signals where growth is coming from (and where it could stay resilient): In Q3, ETFs generated $135B net inflows, including $61B index bond ETFs and $41B precision ETFs; active ETFs added $22B; digital asset ETPs $8B. Retail +$23B and institutional +$44B inflows; institutional index ETFs had $27B outflows (concentrated in low-fee equities). Private markets inflows: $15B, with emphasis on diversified fundraising and fee-paying/scale-with-deployment structures; cash management +$31B. The call highlighted that higher-fee categories (active ETFs, private markets, systematic, SMAs, tech/digital) are driving more durable base-fee growth.
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$424.52
65.3% downside
Current Fair Value
65.3% downsideOvervalued by 65.3% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $189.55 Billion |
|---|---|
| Enterprise Value | $194.03 Billion |
| Annual dividend | $22.40 |
| Dividend yield | 1.95% |
| Earnings per Share | $35.83 |
| Beta | 1.42 |
| Outstanding Shares | 154,800,000 |
Return
| Return on Equity | 11.80% |
|---|---|
| Return on Assets | 3.86% |
| Return on Invested Capital | 9.49% |
Valuation & Multiples
| P/E Ratio | 25.75 |
|---|---|
| PEG | 97.02 |
| Price to Sales | 6.55 |
| Price to Book Ratio | 2.94 |
| Enterprise Value to Revenue | 6.7 |
| Enterprise Value to EBIT | 20.47 |
| Enterprise Value to Net Income | 28 |
| Total Debt to Enterprise | 0.08 |
| Debt to Equity | 0.26 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 14, 2026
EPS Estimate
$14.32
Consensus analyst estimateRevenue Estimate
$7.42 B
Consensus analyst estimateNext Earnings Call
Expected Date
January 21, 2027
EPS Estimate
$15.47
Consensus analyst estimateRevenue Estimate
$7.98 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.02, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0161▼ 98.13% |
|---|---|
| Total Calls | 31,000▼ 97.63% |
| Total Puts | 500▼ 99.96% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 6.99%▼ 71.51% |
|---|---|
| Total Invested | $11.35B▼ 90.30% |
| Investors Holding | 1,007▼ 1385.00% |
About Blackrock Inc.
16,200 employees
CEO: Laurence Fink
BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, our clients turn to us for the solutions they need when planning for their m...