BLK UPDATE: AUM $14.04T (Q4 2025) · FY Revenue $24.2B (+19%) · iShares AUM $5.5T · Net Inflows Record $698B · BLK Stock $1,063 (Mar 13, 2026) · Q1 2026 Earnings: April 11
Finance · Company Data · Asset Management

BlackRock Company Statistics 2026: AUM, Revenue, Market Share and Key Facts

BlackRock is the world's largest asset manager. It ended 2025 with a record $14.042 trillion in assets under management, record full-year net inflows of $698 billion, and revenue of $24.2 billion, up 19% year-over-year. Its iShares platform holds 32% of the global ETF market. Its Aladdin technology processes risk analytics for $21 trillion. And its 2024 and 2025 acquisitions of GIP, HPS and Preqin mark the most ambitious strategic expansion in its 37-year history. This is the complete 2026 data guide to BlackRock's statistics.

14 min readBy RobertUpdated March 2026
📋 Data Sources and Methodology
AUM and Flows: BlackRock Q4 and FY2025 Earnings Release (January 15, 2026) · BlackRock official press release via blackrock.com · Morningstar (Morningstar Nordics, January 15, 2026) · SEC EDGAR 10-K FY2025 and quarterly 10-Q filings
Revenue and Earnings: MacroTrends BLK Revenue 2012-2025 (sourced from SEC filings) · TheStreet BlackRock Q4 2025 earnings analysis (January 17, 2026) · Alpha-Sense BLK Q4 2025 earnings summary · TipRanks BLK earnings report
ETF Market Share: Morningstar Direct ETF market share data · ETFGI Global ETF industry data · Alpha-Sense iShares data from BlackRock earnings call January 2026
Stock Data: StockTitan BLK overview (February 27, 2026 close: $1,063.23) · StockAnalysis.com BLK (March 13, 2026) · TheStreet price target and analyst data
Acquisitions: BlackRock Form 8-K filings via SEC EDGAR (GIP, HPS, Preqin) · TickerReport Q4 2025 earnings call highlights (January 15, 2026)
Technology (Aladdin): BlackRock Q4 2025 earnings press release · TipRanks ACV data · Alpha-Sense technology services revenue data
$0T
AUM Q4 2025 (Record)
$0B
Revenue FY2025
+19%
Revenue Growth YoY
$0B
Net Inflows 2025 (Record)
$0T
iShares AUM
0%
Global ETF Market Share
$0T
Aladdin Platform AUM
$0
BLK Stock Price (Mar 13)

BlackRock in 2026: The Largest Asset Manager in History

BlackRock, Inc. (NYSE: BLK) occupies a position in global finance unlike any other institution. It is not a bank, yet it influences more capital than any bank on earth. It is not a government, yet pension funds, sovereign wealth funds and central banks in over 100 countries rely on its technology, its advisory services and its investment products to manage their assets. At $14.042 trillion in assets under management at year-end 2025, BlackRock manages more money than the GDP of every country on Earth except the United States and China.

Founded in 1988 by Larry Fink and seven partners in a single room with zero assets, BlackRock has been built on two compounding advantages: scale in passive index investing and iShares ETFs, and a risk management technology platform (Aladdin) that has become the operating system of institutional investing globally. As Wikipedia's overview of BlackRock documents, the firm's acquisition of Barclays Global Investors (including iShares) in 2009 for $13.5 billion was the single most consequential transaction in modern asset management history. That $13.5 billion purchase now generates over $8 billion in annual revenue and commands 32% of the entire global ETF market.

The 2025 fiscal year was described by CEO Larry Fink as the strongest year in BlackRock's history. Record net inflows of $698 billion, record AUM of $14 trillion, revenue growth of 19%, and the full-year integration of three transformational acquisitions (GIP, HPS and Preqin) that together repositioned BlackRock as the world's dominant alternative investment and infrastructure platform alongside its existing passive and active asset management businesses. In BlackRock's official Q4 2025 earnings press release, Fink entered the January 15, 2026 earnings call saying BlackRock entered 2026 with "strengthening momentum across our entire platform."

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BlackRock AUM: $14 Trillion and the Growth Story

BlackRock AUM Growth: 2015 to 2025
Assets Under Management · Trillions USD · Year-end figures · BlackRock official earnings releases · Green = $12T+, Blue = $8-12T, Red = below $8T
Sources: BlackRock Q4 2025 Earnings Release (January 15, 2026) · Morningstar Nordics (January 15, 2026) · BlackRock SEC 10-K filings 2015-2025 · FRED / MacroTrends historical AUM data
$14.04T
AUM Q4 2025
+21.6%
AUM Growth YoY
$698B
Net Inflows 2025
9%
Organic Base Fee Growth
$7.96T
AUM Low (2022 Crash)
$0
AUM at Founding (1988)
BlackRock Quarterly AUM Progression: Q4 2023 to Q4 2025
AUM at quarter end · Trillions USD · BlackRock quarterly earnings releases · Each quarter broke new records in 2025
Sources: BlackRock Q4 2025 (Jan 15, 2026) · Q3 2025 ($13.46T, Oct 2025, 401k Specialist) · Q2 2025 ($12.53T, Jul 2025, Yahoo Finance/Zacks) · Q1 2025 ($11.60T, SEC EDGAR) · Q4 2024 ($11.55T, BlackRock IR)
BlackRock Crossed $10T, $12T, $13T and $14T All in Different Quarters of 2024-2025 BlackRock's AUM milestone progression during 2024 and 2025 was extraordinary. The firm ended 2023 at $10.01 trillion. It crossed $12 trillion in Q2 2025 (the first asset manager ever to do so), $13 trillion in Q3 2025, and $14 trillion by Q4 2025. That is $4 trillion added in 12 months, driven by a combination of market appreciation (the S&P 500 rose 16.4% in 2025), record organic net inflows of $698 billion, and the AUM contribution from the GIP and HPS acquisitions. For context: $4 trillion is larger than Germany's entire GDP, added to a single firm's assets in a single year.

Revenue, Earnings and Profitability

BlackRock Revenue and Net Income: 2019 to 2025
Annual figures · Billions USD · Total Revenue (solid blue) vs Net Income (dashed green) · MacroTrends / SEC data
Sources: MacroTrends BLK revenue and net income data (sourced from SEC filings) · Q4 2025 full year: revenue $24.216B (MacroTrends) / net income $5.553B (MacroTrends) · Updated March 2026
Net Income Fell 12.8% in 2025 Despite Revenue Rising 19%: The Acquisition Costs Explain It BlackRock's full-year 2025 GAAP net income fell to $5.553 billion, down 12.8% from $6.37 billion in 2024, even as revenue surged 19% to $24.2 billion. The apparent contradiction is explained by one-time acquisition costs. The Q4 2025 earnings release explicitly cited "noncash acquisition-related expenses and a noncash charitable contribution" as the drivers of the GAAP net income and EPS declines. On an as-adjusted basis (which excludes these items), full-year EPS was $48.09, up 10%, and operating income was $9.6 billion, up 18%. Management guides investors to the as-adjusted metrics as the most accurate representation of underlying business performance. Total expenses rose 19% in 2025 alongside revenue, driven by higher compensation, sales and account expense, and G&A from the new acquisitions.
Total Revenue FY2025
$24.2B
Up 18.67% from $20.41 billion in 2024. Q4 2025 alone contributed $7.008 billion, up 23.45% year-over-year. Revenue growth was driven by base fees, HPS and GIP acquisition fees, and technology services growth.
Operating Income (Adj.) FY2025
$9.6B
Up 18% year-over-year on an as-adjusted basis. Operating margin of approximately 45% as adjusted, matching management's stated target of 45% or greater. Management expects margin to expand further as acquisitions integrate.
Adj. EPS FY2025
$48.09
Up 10% year-over-year on an as-adjusted basis. GAAP diluted EPS was $35.31, down 16%, reflecting noncash acquisition charges. Base fees run-rate entering 2026 is approximately 35% higher than 2024 and 50% higher than 2023.
GAAP Net Income FY2025
$5.55B
Down 12.81% from 2024 due to noncash acquisition costs for GIP, HPS and Preqin transactions and a noncash charitable contribution. Management guides investors to as-adjusted earnings as the best measure of performance.

iShares: The $5.5 Trillion ETF Empire

iShares is the most consequential acquisition in modern asset management history. When BlackRock bought iShares from Barclays Global Investors in 2009 for $13.5 billion, the platform had approximately $300 billion in ETF assets. Sixteen years later, iShares has $5.5 trillion in AUM, generates over $8 billion in revenue annually, and commands approximately 32% of the entire global ETF market. For context: the entire global ETF industry had about $1 trillion in total assets when BlackRock made the acquisition. The industry now has over $17 trillion globally, and iShares has captured and held nearly a third of every dollar that has flowed into ETFs since 2009.

Global ETF Market Share by Provider: 2026
Share of global ETF AUM % · Approximate figures · BlackRock iShares leads at 32% · Morningstar Direct / ETFGI data
Sources: Morningstar Direct ETF market share data · ETFGI Global ETF Industry data · Alpha-Sense BlackRock Q4 2025 earnings call summary · Approximate market share as of early 2026
$5.5T
iShares AUM 2025
$300B
iShares AUM at Acquisition (2009)
$527B
iShares Net Inflows 2025 (Record)
$8B+
iShares Revenue 2025
1,400+
iShares ETFs Available
Active ETFs: BlackRock's Next Growth Engine After Index Dominance BlackRock has been the dominant force in passive index ETFs for over a decade. Its next strategic frontier is active ETFs, where human or systematic portfolio management is embedded within an ETF structure. Active ETFs drove more than $50 billion in net inflows in 2025, nearly tripling their assets in a single year. BlackRock's flexible active income ETF BINC and systematic US equity factor rotation ETF DYNF led active ETF flows for the year. DYNF was the highest inflowing active ETF in the entire industry with $14 billion of net inflows. Active ETFs are a critical growth opportunity because they carry higher fee rates than passive index ETFs, supporting margin expansion as the overall AUM base continues to grow.

Aladdin: The Technology Platform Running $21 Trillion

Aladdin (Asset, Liability, Debt, and Derivative Investment Network) is BlackRock's proprietary technology platform and one of the most important pieces of financial infrastructure in the world. It processes risk analytics, portfolio management and trading for approximately $21 trillion in assets globally, an amount that includes not only BlackRock's own $14 trillion under management but also the portfolios of hundreds of external clients including pension funds, insurance companies, sovereign wealth funds and other institutional investors who license Aladdin as their operating system.

Technology services and subscription revenue from Aladdin grew approximately 24% year-over-year in both Q4 2025 and for the full year 2025. Annual contract value (ACV) increased 31% year-over-year in 2025 including the contribution from Preqin, and 16% organically. The acquisition of Preqin in March 2025 extended Aladdin's reach into private markets data, a sector where investors have been historically underserved by technology solutions. Technology ACV approaches $2 billion in annual revenue as of entering 2026, making Aladdin one of the fastest-growing enterprise SaaS businesses in global financial services.

The Three Acquisitions That Transformed BlackRock in 2024-2025

BlackRock Major Acquisitions: 2024 to 2025
Global Infrastructure Partners (GIP): October 2024~$12.5B deal value
Largest infrastructure investment manager acquisition ever · Adds $150B+ in infrastructure AUM · Airports, ports, energy, data centres · GIP managing partner Adebayo Ogunlesi joins BlackRock board
HPS Investment Partners: July 2025~$12B deal value
Leading global credit manager · $100B+ in credit AUM · Contributed ~$230M in fees in Q4 2025 alone · Positions BlackRock as top-five alternatives platform with $675B+ alternatives AUM
Preqin: March 2025~$3.2B deal value
Private markets data and analytics provider · Added $65M to Q4 2025 revenue · Drove 34% increase in technology ACV · Extends Aladdin into private markets data
Sources: BlackRock SEC Form 8-K filings (GIP: October 2024, HPS: July 1, 2025, Preqin: March 2025) · TickerReport BlackRock Q4 2025 earnings call highlights (January 15, 2026) · The combined three acquisitions represent approximately $28 billion total investment
Key Insight: The Acquisition Strategy
BlackRock's $28 Billion Acquisition Sprint Is the Biggest Bet in Asset Management History
In just 15 months from October 2024 to January 2026, BlackRock spent approximately $28 billion on three acquisitions that together repositioned it from a passive/active asset manager into the world's dominant one-stop financial platform: public and private markets, infrastructure, credit, data, and technology. The strategic logic is clear. Base fees on index and ETF products are structurally declining as price competition intensifies. Private markets, infrastructure, credit and alternatives carry fee rates 5 to 10 times higher than passive index fees. HPS alone contributed $230 million in fees in a single quarter. Larry Fink has positioned 2026 as the "first full year as a unified platform" and described the goal as $400 billion in gross private markets fundraising through 2030. If achieved, this would transform BlackRock's revenue mix and margin profile in ways that passive management alone never could have.
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BLK Stock Performance and Valuation

BlackRock BLK Stock Price: January 2024 to March 2026
NYSE: BLK · Approximate monthly closing prices · *March 2026 = March 13 level of ~$1,063
Sources: StockTitan BLK overview (Feb 27, 2026 close $1,063.23) · TheStreet BlackRock analysis (Jan 17, 2026: $1,163.17 YTD peak) · StockAnalysis.com BLK · Historical data approximate
$1,063
BLK Price (Mar 13)
$1,129
Earnings Day Price (Jan 15)
$1,260
Analyst 12M Target
$169B
Market Cap (Feb 2026)
+3.45%
Earnings Day Move
+4.4%
Full Year 2025 Return
BLK Lagged the S&P 500 in 2025 Despite Record Business Performance Despite posting record AUM, record inflows, and 19% revenue growth in 2025, BLK stock returned approximately 4.4% for the year, significantly underperforming the S&P 500's 16.4% gain. The divergence reflects two dynamics. First, much of the business outperformance was already priced into the stock following strong 2024 results. Second, the market applied a discount to the acquisition integration uncertainty of GIP, HPS and Preqin simultaneously. The Q4 2025 earnings beat (revenue $7B vs $6.69B estimate) partially resolved that uncertainty. 15 analysts currently rate BLK as Strong Buy with a consensus price target of $1,259.60, implying approximately 18% upside from March 13 levels. Bank of America raised its target to $1,467 following the Q4 2025 report.

Revenue by Business Segment

BlackRock Revenue Mix by Segment: Approximate 2025
Estimated share of total revenue % · Base fees dominate · Technology (Aladdin) and performance fees growing · Approximate allocations
Sources: BlackRock Q4 2025 earnings release · Alpha-Sense Q4 2025 earnings summary · SEC EDGAR Q4 2025 supplement (Exhibit 99.2) · Segment allocations are approximate based on disclosed fee categories

BlackRock vs Competitors: Scale Comparison

World's Largest Asset Managers by AUM: Early 2026
BlackRock (NYSE: BLK)$14.04T
World's largest asset manager · $698B net inflows in 2025 · 32% global ETF market share · GIP, HPS, Preqin acquired 2024-2025
Vanguard (Private)~$9.7T
World's second-largest · Mutual ownership structure · Strong ETF competitor (28% global ETF share) · No public earnings reporting
Fidelity (Private)~$5.8T~$5.8T
Third-largest asset manager · Strong retail brokerage and 401k platform · Significant active management business
State Street Global Advisors (NYSE: STT)~$4.3T
SPDR ETF platform (14% ETF share) · Strong institutional custody business · Creator of the first US ETF (SPY) in 1993
JPMorgan Asset Management~$3.8T
Banking group's asset management arm · Strong active management and multi-asset strategies
Goldman Sachs Asset Management~$2.9T
Heavy alternatives and institutional bias · Alternatives and private markets growing share
Sources: Company filings and reports · Approximate AUM figures as of Q4 2025 / early 2026 · Vanguard and Fidelity are private and do not report publicly

BlackRock Key Statistics: Full Data Table

The table below covers all key BlackRock financial and operational statistics. Click any column to sort.

Metric FY2023 FY2024 FY2025 Change YoY
Total AUM (year-end)$10.01T$11.55T$14.04T (Record)+21.6%
Total Net Inflows$289B$641B$698B (Record)+8.9%
Total Revenue (GAAP)$17.86B$20.41B$24.22B+18.7%
Q4 Revenue$4.62B$5.68B$7.01B+23.5%
Operating Income (Adj.)~$7.2B~$8.1B~$9.6B+18%
Operating Margin (Adj.)41.7%44.5%~45%+50bps
GAAP Net Income$5.63B$6.37B$5.55B-12.8%
EPS As-Adjusted$37.77$43.61$48.09+10.3%
GAAP Diluted EPS$28.31$42.01$35.31-16%
iShares ETF AUM~$3.2T~$4.2T$5.5T+31%
iShares Net Inflows~$220B~$390B$527B (Record)+35%
Technology ACV Growth (Organic)~8%~11%16%+500bps
Technology ACV Growth (Incl. Preqin)N/AN/A31%New
Alternatives AUM~$300B~$450B$675B++50%
Quarterly Dividend Per Share$5.00$5.21$5.73 (+10%)+10%
Share Repurchases~$1.5B$1.6B~$1.8B+12.5%
BLK Stock Price (Year-End)~$813~$1,010~$1,050+3.9%
Market Capitalisation~$125B~$157B~$169B (Feb 2026)+7.6%
Click any column to sort. Sources: MacroTrends · BlackRock Q4 2025 Earnings Release (Jan 15, 2026) · SEC EDGAR 10-K FY2025 · StockTitan · Morningstar · Alpha-Sense · Note: GAAP net income decline in 2025 driven by noncash acquisition charges for GIP, HPS and Preqin.

BlackRock 2026 Outlook

Q1 2026 Earnings: April 11
The First Full Quarter as a Unified GIP, HPS and Preqin Platform
BlackRock's Q1 2026 earnings report, due April 11, 2026, will be the first quarter where GIP, HPS and Preqin all contribute for a full three months. Management has guided that base fees entering 2026 are approximately 35% higher than 2024 levels. Consensus analyst EPS forecast for Q1 2026 is $12.45. The Iran war equity market selloff in March has likely reduced AUM from the Q4 2025 peak of $14.04 trillion, but management has described headcount as broadly flat, suggesting cost discipline is maintained. Bank of America has a $1,467 price target for BLK following the Q4 2025 beat.
Private Markets: $400B Fundraising Target by 2030
The Highest-Stakes Growth Bet in Asset Management
Larry Fink has set a target of $400 billion in gross private markets fundraising through 2030. With $675 billion already in alternatives AUM and HPS's credit platform generating $230 million per quarter in fees, BlackRock is the first traditional asset manager to credibly compete with the likes of Apollo, Blackstone and KKR in private credit and infrastructure. Whether BlackRock can execute the retail democratisation of private markets (through its LifePath with privates target date fund and its separately managed accounts for wealth management clients) will determine whether the $400 billion target is achievable.
Margin Expansion: 45% or Greater
Operating Leverage on $14 Trillion Is Extraordinary
Management has committed to a 45% or greater adjusted operating margin profile. In 2025, the firm achieved approximately 45% despite absorbing significant acquisition-related costs. As GIP, HPS and Preqin fully integrate, the incremental revenue from private markets (which carries higher margins than passive index management) is expected to drive the margin above 45%. CFO Martin Small described upward momentum in margins on recurring fee-related earnings and guided mid-single-digit percentage G&A growth in 2026, well below the 19% revenue growth achieved in 2025.
Digital Assets and Tokenisation
BlackRock's Newest Platform Frontier
Larry Fink explicitly mentioned digital assets and tokenisation as a 2026 strategic priority on the earnings call. BlackRock's BUIDL tokenised money market fund on the Ethereum blockchain had reached over $500 million in assets. The firm is also expanding its digital assets ETF platform. Fink has said publicly that tokenisation of financial assets on blockchain networks could be as transformational as the invention of ETFs. If BlackRock applies the same distribution and scale advantage to tokenised assets that it applied to ETFs in 2009, the long-term implications for AUM and revenue are significant.
BlackRock enters 2026 with strengthening momentum across our entire platform, after delivering the strongest year and quarter for net inflows in our history. Larry Fink, Chairman and CEO, BlackRock, Q4 2025 Earnings Statement, January 15, 2026

Frequently Asked Questions

BlackRock ended 2025 with a record $14.042 trillion in assets under management, up 21.6% year-over-year. As of Q1 2026, AUM is estimated at approximately $11.5 trillion after market corrections driven by the Iran war, though BlackRock has not yet reported Q1 2026 results. BlackRock manages more money than the GDP of every country on Earth except the United States and China.
BlackRock's total revenue for full-year 2025 was $24.216 billion, an increase of 18.67% from $20.41 billion in 2024 (MacroTrends, sourced from SEC filings). Q4 2025 revenue was $7.008 billion, up 23.45% year-over-year. On an as-adjusted basis, management reported full-year revenue of approximately $24 billion, operating income of $9.6 billion and adjusted EPS of $48.09.
BLK traded at approximately $1,063 as of late February/early March 2026. The stock closed at $1,129 on earnings day (January 15, 2026) after rising 3.45%. Full-year 2025 BLK returned approximately 4.4%, lagging the S&P 500's 16.4% gain. The 12-month analyst consensus price target is $1,259.60. Bank of America has a $1,467 target. 15 analysts rate BLK as Strong Buy.
BlackRock's iShares platform controls approximately 32% of the global ETF market. iShares ETF AUM stands at $5.5 trillion as of year-end 2025, up from $300 billion when acquired from Barclays in 2009. iShares generated over $8 billion in revenue in 2025 and recorded $527 billion in net inflows for the full year, a new record. BlackRock is the world's largest ETF provider, ahead of Vanguard (28%) and State Street SPDR (14%).
Aladdin is BlackRock's proprietary risk management and operating technology platform. It processes risk analytics for approximately $21 trillion in assets globally, used not only by BlackRock itself but by hundreds of external institutional investors. Technology services revenue from Aladdin grew 24% year-over-year in 2025. ACV increased 31% including Preqin and 16% organically, approaching $2 billion in annual revenue.
Three transformational acquisitions: Global Infrastructure Partners (GIP) in October 2024 for approximately $12.5 billion, making BlackRock one of the world's largest infrastructure investors. Preqin, the private markets data provider, in March 2025 for approximately $3.2 billion, adding $65 million in Q4 2025 revenue. HPS Investment Partners, a leading global credit manager, in July 2025 for approximately $12 billion, contributing approximately $230 million in fees in Q4 2025 alone. Combined value: approximately $28 billion.
BlackRock's market capitalisation was approximately $169 billion as of late February 2026 when BLK traded at $1,063.23, making it the world's most valuable publicly traded asset management company. The firm increased its quarterly dividend by 10% to $5.73 per share and authorised a repurchase of an additional 7 million shares at its Q4 2025 earnings presentation.

What Comes Next?

BlackRock's Q1 2026 earnings on April 11 will answer the most important near-term question: how much AUM has the Iran war equity market selloff erased from the Q4 2025 record of $14.04 trillion, and how quickly is HPS generating the private credit fee run-rate that management guided in January? The Iran war is a headwind primarily through market appreciation reversal (lower equity prices reduce AUM and therefore base fees), not through direct business disruption. BlackRock's revenue is approximately 55% base fees tied to AUM levels, so a sustained equity market decline of 10% translates to approximately a 5–6% reduction in base fee run-rate revenue.

The longer-term story is more interesting and more important. Larry Fink has stated that 2026 is the first full year as a unified platform. The strategic questions are whether BlackRock can democratise private markets at scale for retail and wealth management clients, whether Aladdin's private markets extension via Preqin translates to ACV growth comparable to the public markets Aladdin business, and whether the digital assets and tokenisation initiatives generate a new revenue stream of meaningful size. BlackRock built the largest passive investing platform in the world by being early, disciplined and patient in ETFs from 1994 through 2009 and then scaling aggressively from 2009 onwards. The firm is applying the same playbook to private markets and digital assets. It has $675 billion in alternatives AUM, a $400 billion fundraising target through 2030, and more distribution infrastructure than any competitor. The parallels to 2009 are striking.

This article is for informational purposes only and does not constitute financial or investment advice. Past stock performance does not guarantee future results. Always conduct your own research or consult a qualified financial advisor before making investment decisions.
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