BlackRock, Inc. (BLK) intrinsic value & 10-year financials
BlackRock, Inc. (BLK) has a Graham intrinsic value of $338.15 per share. At $1,134.38 on Oct 17, 2026, the stock trades 235% above that value. Over the last 5 fiscal years revenue grew 10.7% a year to $24.2B, with an average return on invested capital of 12.6%.
- Graham intrinsic value
- $338.15
- Share price (Oct 17, 2026)
- $1,134.38
- Price vs Graham value
- 235% above
- Market cap
- $182.5B
- Revenue (FY2025)
- $24.2B
- Revenue growth (5-yr CAGR)
- 10.7%
- ROIC (10-yr avg)
- 12.6%
- Free cash flow (FY2025)
- $3.6B
BLK 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $24.2B | $5.6B | $35.31 | $3.6B | 29.1% | 10.4% |
| FY2024 | $20.4B | $6.4B | $42.01 | $4.7B | 37.1% | 13.8% |
| FY2023 | $17.9B | $5.5B | $36.51 | $3.8B | 35.1% | 12.8% |
| FY2022 | $17.9B | $5.2B | $33.97 | $4.4B | 35.7% | 13.5% |
| FY2021 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
BlackRock revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
BlackRock returns on capital have been average, hovering around 12.3% ROIC over the decade.
BlackRock capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, BlackRock is modeled at 1.3% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $338.15 per share.