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BlackRock Valuation Multiples

Discover revenue and EBITDA valuation multiples for BlackRock and similar public comparables like Eurocommercial Props, CVC Capital Partners, and ASR Nederland.

BlackRock Overview

About BlackRock

BlackRock is the largest asset manager in the world, with $11.584 trillion in assets under management at the end of March 2025. Its product mix is diverse, with 53% of managed assets in equity strategies, 26% in fixed income, 9% in multi-asset classes, 8% in money market funds, and 4% in alternatives. Passive strategies account for 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

United States of America
Employees

21.1K+

Website

blackrock.com

Financials

LTM Revenue $21.1B

LTM EBITDA $8.9B

EV

$156B

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BlackRock Financials

BlackRock has a last 12-month revenue (LTM) of $21.1B and a last 12-month EBITDA of $8.9B.

In the most recent fiscal year, BlackRock achieved revenue of $20.4B and an EBITDA of $9.4B.

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

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BlackRock P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $21.1B XXX $20.4B XXX XXX XXX
Gross Profit $21.1B XXX $10.1B XXX XXX XXX
Gross Margin 100% XXX 49% XXX XXX XXX
EBITDA $8.9B XXX $9.4B XXX XXX XXX
EBITDA Margin 42% XXX 46% XXX XXX XXX
EBIT $8.4B XXX $7.5B XXX XXX XXX
EBIT Margin 40% XXX 37% XXX XXX XXX
Net Profit $6.9B XXX $6.4B XXX XXX XXX
Net Margin 33% XXX 31% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

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BlackRock Stock Performance

As of May 30, 2025, BlackRock's stock price is $980.

BlackRock has current market cap of $152B, and EV of $156B.

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BlackRock Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$156B $152B XXX XXX XXX XXX $44.24

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BlackRock Valuation Multiples

As of May 30, 2025, BlackRock has market cap of $152B and EV of $156B.

BlackRock's trades at 7.7x EV/Revenue multiple, and 16.7x EV/EBITDA.

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 22.1x.

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BlackRock Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $152B XXX $152B XXX XXX XXX
EV (current) $156B XXX $156B XXX XXX XXX
EV/Revenue 7.4x XXX 7.7x XXX XXX XXX
EV/EBITDA 17.6x XXX 16.7x XXX XXX XXX
EV/EBIT 18.6x XXX 20.7x XXX XXX XXX
EV/Gross Profit 7.4x XXX n/a XXX XXX XXX
P/E 22.1x XXX 23.8x XXX XXX XXX
EV/FCF 23.5x XXX 33.3x XXX XXX XXX

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BlackRock Margins & Growth Rates

BlackRock's last 12 month revenue growth is 10%

BlackRock's revenue per employee in the last FY averaged $1.0M, while opex per employee averaged $0.1M for the same period.

BlackRock's rule of 40 is 54% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

BlackRock's rule of X is 67% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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BlackRock Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 10% XXX 10% XXX XXX XXX
EBITDA Margin 42% XXX 46% XXX XXX XXX
EBITDA Growth 12% XXX 9% XXX XXX XXX
Rule of 40 54% XXX 56% XXX XXX XXX
Bessemer Rule of X XXX XXX 67% XXX XXX XXX
Revenue per Employee XXX XXX $1.0M XXX XXX XXX
Opex per Employee XXX XXX $0.1M XXX XXX XXX
S&M Expenses to Revenue XXX XXX 2% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 12% XXX XXX XXX

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BlackRock Public Comps

See public comps and valuation multiples for Asset Management and Private Equity comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Investcorp Capital XXX XXX XXX XXX XXX XXX
Waha Capital XXX XXX XXX XXX XXX XXX
ASR Nederland XXX XXX XXX XXX XXX XXX
CVC Capital Partners XXX XXX XXX XXX XXX XXX
Eurocommercial Props XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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BlackRock M&A and Investment Activity

BlackRock acquired  XXX companies to date.

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

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Latest Acquisitions by BlackRock

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About BlackRock

When was BlackRock founded? BlackRock was founded in 2006.
Where is BlackRock headquartered? BlackRock is headquartered in United States of America.
How many employees does BlackRock have? As of today, BlackRock has 21.1K+ employees.
Who is the CEO of BlackRock? BlackRock's CEO is Mr. Laurence D. Fink.
Is BlackRock publicy listed? Yes, BlackRock is a public company listed on NYS.
What is the stock symbol of BlackRock? BlackRock trades under BLK ticker.
When did BlackRock go public? BlackRock went public in 1999.
Who are competitors of BlackRock? Similar companies to BlackRock include e.g. Investcorp Capital, Waha Capital, ASR Nederland, CVC Capital Partners.
What is the current market cap of BlackRock? BlackRock's current market cap is $152B
What is the current revenue of BlackRock? BlackRock's last 12 months revenue is $21.1B.
What is the current revenue growth of BlackRock? BlackRock revenue growth (NTM/LTM) is 10%.
What is the current EV/Revenue multiple of BlackRock? Current revenue multiple of BlackRock is 7.4x.
Is BlackRock profitable? Yes, BlackRock is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of BlackRock? BlackRock's last 12 months EBITDA is $8.9B.
What is BlackRock's EBITDA margin? BlackRock's last 12 months EBITDA margin is 42%.
What is the current EV/EBITDA multiple of BlackRock? Current EBITDA multiple of BlackRock is 17.6x.
What is the current FCF of BlackRock? BlackRock's last 12 months FCF is $6.7B.
What is BlackRock's FCF margin? BlackRock's last 12 months FCF margin is 31%.
What is the current EV/FCF multiple of BlackRock? Current FCF multiple of BlackRock is 23.5x.

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