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BlackRock (BLK) Operating Expenses (2023 - 2026)

BlackRock has reported Operating Expenses over the past 3 years, most recently at $5.3 billion for Q4 2025.

  • Quarterly Operating Expenses rose 48.45% to $5.3 billion in Q4 2025 from the year-ago period, while the trailing twelve-month figure was $17.2 billion through Dec 2025, up 33.8% year-over-year, with the annual reading at $17.2 billion for FY2025, 33.8% up from the prior year.
  • Operating Expenses was $5.3 billion for Q4 2025 at BlackRock, up from $4.6 billion in the prior quarter.
  • Over five years, Operating Expenses peaked at $5.3 billion in Q4 2025 and troughed at $2.9 billion in Q3 2023.
  • The 3-year median for Operating Expenses is $3.4 billion (2024), against an average of $3.6 billion.
  • Year-over-year, Operating Expenses grew 10.61% in 2024 and then surged 48.45% in 2025.
  • A 3-year view of Operating Expenses shows it stood at $3.0 billion in 2023, then grew by 18.25% to $3.6 billion in 2024, then surged by 48.45% to $5.3 billion in 2025.
  • Per Business Quant, the three most recent readings for BLK's Operating Expenses are $5.3 billion (Q4 2025), $4.6 billion (Q3 2025), and $3.7 billion (Q2 2025).