Aureus
BGood

BlackRock, Inc.(BLK)

B

Financial data as of Dec 31, 2025Declining · Financials

FCF Margin14.7%Free Cash Flow / Revenue
Cash Conversion70.7%Operating CF / Net Income
Free Cash Flow$3.6B
Revenue$24.2B
Net Cash-$3.5BNet debt position
Debt / FCF4.2xElevated debt burden
Current Ratio15.76Adequate short-term liquidity
YoY FCF Growth-15.1%4 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseB
→
+0.5Healthy FCF margin with manageable debt (14.7%, 4.2x)
→
-0.5FCF trend declining (-15.1% YoY)
→
-0.5Highly volatile FCF (consistency: 1.07)
→
FinalB

Analysis Summary

Strengths

  • Healthy FCF margin (14.7%)
  • Strong liquidity (current ratio: 15.76)

Concerns

  • Net debt position ($3.5B) — 4.2x FCF, manageable
  • Highly volatile quarterly FCF

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin14.7%
Net Margin22.9%
Operating CF Margin16.2%
CapEx Ratio1.5%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$3.5BNet debt position
Debt / FCF4.2xElevated debt burden
Current Ratio15.76Strong liquidity
Debt / Equity0.27Low leverage

Quarterly FCF Trend

-15.1% YoYDeclining (-15.1%)

Free cash flow per quarter

Sector Comparison — Financials

FCF Margin ranked against sector peers

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Detailed Metrics

Company NameBlackRock, Inc.
SectorFinancials
Free Cash Flow$3.6B
Revenue$24.2B
Net Income$5.6B
Operating Cash Flow$3.9B
Capital Expenditure$375.0M
FCF Margin14.7%
Cash Conversion Rate70.7%
Net Margin22.9%
Total Debt$15.0B
Total Cash$11.5B
Net Cash-$3.5B
Current Ratio15.76
Debt / Equity0.27
Debt / FCF4.2x
YoY FCF Growth-15.1%
Positive Quarters4 of 5
Trend DirectionDeclining
Report DateDec 31, 2025
GradeB
Data SourceYahoo Finance

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