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BlackRock BLK

BlackRock scores average on business quality (5.3 of 10). Here is why, in plain words, and what our sealed record shows.

Last price$1,082Oct 10, 2026
Business qualityAverage
Next earningsOct 14, 2026, before the open
Insiders, 90 daysSelling

Why it matters

  1. What BlackRock does

    BlackRock manages trillions of dollars in assets, charging management fees to institutional and retail investors globally through its iShares exchange-traded funds and active strategies. The firm is expanding its digital asset footprint, highlighted by Bitcoin and Ethereum exchange-traded products driving new product growth.

  2. What it does best

    BlackRock dominates passive investing through its iShares platform, anchoring a gross margin of 81.7% that outpaces peers like KKR at 40.3%. This scale creates extreme distribution power that rivals struggle to match without multi-billion-dollar fund families.

  3. The main risk

    Regulatory shifts around crypto-linked financial products pose a direct threat to the newly approved triple-leveraged Bitcoin and Ethereum ETPs, which risk sudden inflows reversal if SEC stances pivot.

Quality, check by check

Scored against its own industry, from company filings.

ProfitabilityFair

Operating margins hold at 33.3% alongside an FCF margin near 13%, driven by fee income leverage. Profitability scales efficiently as assets under management expand, though rising costs temper net margins.

MoatWeak

The firm locks in institutional investors and advisors through unmatched ETF liquidity and the Aladdin software ecosystem. It ranks in the 74th percentile for gross margin, though a modest moat score reflects intense fee compression.

GrowthFast

Revenue growth surged 18.7%, hitting $27.3B and accelerating past historical averages. The iShares ecosystem and new crypto ETP share classes are pulling the top line higher.

Financial healthFair

Total debt sits at $12.8B against $11.5B in cash, while interest coverage of 16.8x makes debt costs manageable. Free cash flow reached $3.5B, showing a slightly softer trend as expenses climb.

Insiders

Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.

2 sold $22.0M outside pre-planned sales.

Our sealed record on BLK

Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.

The first sealed verdicts appear here on Oct 11, 2026.

Questions

Is BLK a good business?

BlackRock scores average on the Cluenex quality check (5.3 of 10), measured against its own industry. Profitability is fair, moat weak, growth fast and financial health fair.

Are insiders buying BLK?

In the last 90 days of SEC Form 4 filings: 2 sold $22.0M outside pre-planned sales.

When does BLK report earnings?

Oct 14, 2026, before the open.

For members

See BLK today

  • Today's verdict on BLK, and why
  • Fair value with cautious, base and optimistic cases
  • The exact price that would change the verdict
  • Which stocks each signal names, the night it fires
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Cite this page: Cluenex, “BlackRock (BLK)”, https://cluenex.com/stocks/blk/, data as of Oct 10, 2026.