← Research LibraryThe BriefFY2025 10-K · headline figures audited against SEC data
BlackRock scaled revenue and AUM sharply in 2025, but GAAP profit and free cash flow moved the other way as the private-markets buildout raised execution pressure.
The read at a glance✓ Audited against SEC data
- Growth — Revenue +18.7% to $24.22BOK
- Profitability — Net income -12.8% to $5.55BWatch
- Cash quality — FCF -24.4% to $3.55BWatch
- Margins — Operating margin -802 bpsWatch
- Capital — Debt +3.7%; equity +17.7%Note
- Insiders — 0 open-market buys / 16 sellsWatch
Business
BlackRock is a global investment manager and technology provider with $14.0T of assets under management at December 31, 2025, serving institutional and retail clients through public markets, private markets, ETFs, cash management, advisory, and technology services including Aladdin, eFront, Preqin, and Cachematrix.
Where the revenue comes from
Fiscal 2025, as BlackRock, Inc. reports it. History and quarterly detail are in the app.
- Investment Advice$19.2B
- Technology Services And Subscription Revenue$2.0B
- Investment Performance$1.4B
- Distribution And Shareholder Service$1.4B
- Service Other$277.0M
Leadership changes
From BlackRock, Inc.'s own filings, the day they're filed.
Latest filings
- 10-Q · Quarterly report2026-08-06
- 8-K · Company announcement2026-07-15
- 8-K · Company announcement2026-06-30
- 8-K · Company announcement2026-05-22
- 10-Q · Quarterly report2026-05-06
In the full recordFree for 14 days
- What changed🔒
- Insider signal🔒
- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
- The filings, readable — with what changed vs the prior year highlighted🔒
- Full financial statements, industry-aware, sources cited throughout🔒
- Forensic score history & components — the trend, not one year🔒
- Ownership: insider buys/sells, clusters, activist stakes🔒
- Ana — ask about BlackRock, Inc., every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
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