BlackRock Valuation Multiples

BlackRock Overview

About BlackRock

BlackRock is the largest asset manager in the world, with $14.041 trillion in assets under management at the end of December 2025. Its product mix is diverse, with 55% of managed assets in equity strategies, 23% in fixed income, 9% in multi-asset classes, 6% in money market funds, and 5% in alternatives. Passive strategies account for more than two-thirds of long-term AUM, with the company's ETF platform maintaining a leading market share domestically and on a global basis. Product distribution is weighted more toward institutional clients, which, by our calculations, account for around 80% of AUM. BlackRock is geographically diverse, with clients in more than 100 countries and more than one-third of managed assets coming from investors domiciled outside the US and Canada.

Founded

2006

HQ

Employees

24.9K

Website

blackrock.com

Sectors

Asset ManagementPE & VC

Financials (LTM)

Revenue: $25B

EBITDA: $10B

EV

$168B

Valuation Multiples

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BlackRock Financials

BlackRock reported last 12-month revenue of $25B and EBITDA of $10B.

In the same LTM period, BlackRock generated $10B in EBITDA and $8B in net income.

BlackRock P&L

In the most recent fiscal year, BlackRock reported revenue of $24B and EBITDA of $10B.

BlackRock expects next 12-month revenue of XXX and NTM EBITDA of XXX

BlackRock Stock Performance

BlackRock has current market cap of $166B, and enterprise value of $168B.

BlackRock's stock price is $1,068.31.

BlackRock Valuation Multiples

BlackRock trades at 6.7x EV/Revenue multiple, and 16.1x EV/EBITDA.

BlackRock Financial Valuation Multiples

As of March 25, 2026, BlackRock has market cap of $166B and EV of $168B.

Equity research analysts estimate BlackRock's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

BlackRock has a P/E ratio of 20.6x.

BlackRock Margins & Growth Rates

BlackRock's revenue in the last 12 month grew by 16%.

BlackRock's revenue per employee in the last FY averaged $1.0M, while opex per employee averaged $0.7M for the same period.

BlackRock's rule of 40 is 57% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

BlackRock's rule of X is 81% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

BlackRock Public Comps

See public comps and valuation multiples for other Asset Management and PE & VC comps.

BlackRock M&A Activity

BlackRock acquired XXX companies to date.

Last acquisition by BlackRock was on XXXXXXXX, XXXXX. BlackRock acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

BlackRock Investment Activity

BlackRock invested in XXX companies to date.

BlackRock made its latest investment on XXXXXXXX, XXXXX. BlackRock invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).