How Does BlackRock Make its Money?
BlackRock is the world’s largest asset manager, overseeing approximately $11.6 trillion in assets under management (AUM). The company offers a wide range of investment products including the iShares family of ETFs (the world’s largest), mutual funds, and alternative investments. BlackRock also provides risk management technology through its Aladdin platform, used by institutional investors worldwide. The company has been aggressively expanding into private markets and infrastructure investing.
BlackRock (BLK) Business Model
BlackRock operates in the financial services sector. Below is a summary of BlackRock’s revenue streams, how the company generates income, and the key financial metrics from its most recent annual report. This breakdown uses data from BlackRock’s 2024 fiscal year filings with the SEC.
BlackRock Competitors
BlackRock’s key competitors and comparable public companies in the financial services sector include JPMorgan Chase, Goldman Sachs, Morgan Stanley, and Charles Schwab. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how BlackRock stacks up by comparing their revenue breakdown, margins, and growth metrics.
BlackRock Competitors
BlackRock’s key competitors and comparable public companies in the financial services sector include JPMorgan Chase, Goldman Sachs, Morgan Stanley, and Charles Schwab. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how BlackRock stacks up by comparing their revenue breakdown, margins, and growth metrics.
BlackRock Competitors
BlackRock’s key competitors and comparable public companies in the financial services sector include JPMorgan Chase, Goldman Sachs, Morgan Stanley, and Charles Schwab. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how BlackRock stacks up by comparing their revenue breakdown, margins, and growth metrics.
BlackRock Competitors
BlackRock’s key competitors and comparable public companies in the financial services sector include JPMorgan Chase, Goldman Sachs, Morgan Stanley, and Charles Schwab. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how BlackRock stacks up by comparing their revenue breakdown, margins, and growth metrics.
BlackRock Competitors
BlackRock’s key competitors and comparable public companies in the financial services sector include JPMorgan Chase, Goldman Sachs, Morgan Stanley, and Charles Schwab. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how BlackRock stacks up by comparing their revenue breakdown, margins, and growth metrics.
BlackRock Competitors
BlackRock’s key competitors and comparable public companies in the financial services sector include JPMorgan Chase, Goldman Sachs, Morgan Stanley, and Charles Schwab. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how BlackRock stacks up by comparing their revenue breakdown, margins, and growth metrics.
BlackRock Competitors
BlackRock’s key competitors and comparable public companies in the financial services sector include JPMorgan Chase, Goldman Sachs, Morgan Stanley, and Charles Schwab. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how BlackRock stacks up by comparing their revenue breakdown, margins, and growth metrics.
Revenue Breakdown
| Segment | 2024 | 2023 | YoY Growth |
|---|---|---|---|
| Investment Advisory & Admin Fees | $16,400 | $14,600 | +12.3% |
| Technology Services (Aladdin) | $1,700 | $1,500 | +13.3% |
| Distribution Fees | $1,400 | $1,200 | +16.7% |
| Advisory & Other Revenue | $900 | $800 | +12.5% |
| Total Revenue | $20,400 | $18,100 | +12.7% |
Investment Advisory & Admin Fees — 80% of Revenue
Technology Services (Aladdin) — 8% of Revenue
Distribution Fees — 7% of Revenue
Advisory & Other Revenue — 4% of Revenue
Income Statement Overview
| Metric | 2024 | 2023 |
|---|---|---|
| Total Revenue | $20,400 | $18,100 |
| Cost of Revenue | $4,200 | $3,800 |
| Gross Profit | $16,200 | $14,300 |
| Operating Expenses | $8,400 | $7,700 |
| Operating Income | $7,800 | $6,600 |
| Net Income | $6,400 | $5,500 |
All values in millions USD unless otherwise stated.
Key Financial Metrics
- Gross Margin: 79.4%
- Operating Margin: 38.2%
- Revenue Growth: 12.7%
Is BlackRock Profitable?
Yes, BlackRock is profitable. The company reported net income of $6,400 on total revenue of $20,400. With an operating margin of 38.2%, BlackRock demonstrates solid profitability for the financial services sector. The gross margin of 79.4% reflects BlackRock’s pricing power and cost structure.
What to Watch
- AUM growth trajectory and impact of market performance on advisory fees
- Integration of Global Infrastructure Partners ($12.5B acquisition) and private markets expansion
- Aladdin technology platform growth and competitive positioning
- ETF market share amid growing competition from Vanguard and low-fee providers
BlackRock (BLK) Financial Summary
BlackRock (BLK) is a financial services company that generated $20,400 in total revenue in fiscal year 2024. Revenue grew 12.7% year-over-year. The company earned $6,400 in net income, making it profitable. For a deeper look at BlackRock’s revenue breakdown, business segments, and financial performance, review the detailed analysis above.