BlackRock (BLK) Operating Margin (2023 - 2026)
BlackRock (BLK) posted quarterly Operating Margin of 42.01% for Q1 2026, up 983.0% year-over-year from 3.88% in Q1 2025, and up 77.26% quarter-over-quarter from 23.7% in Q4 2025.
BlackRock (BLK) Operating Margin (2023 - 2026) Analysis & Trends
BlackRock (BLK) has reported Operating Margin for 4 consecutive years, with 42.01% the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Margin rose 983.0% year-over-year to 42.01%; the TTM figure through Mar 2026 stood at 31.83% (down 434.0% YoY), while the FY2025 annual figure was 29.09%, down 802.0% from the prior year.
- Operating Margin advanced to 42.01% in Q1 2026 per BLK's latest filing, from 23.7% in the prior quarter.
- Across five years, Operating Margin topped out at 42.01% in Q1 2026 and bottomed at 23.7% in Q4 2025.
- Historically, Operating Margin has averaged 34.43% across 4 years, with a median of 35.81% in 2024.
- Annual changes were most pronounced in 2025 — Operating Margin plunged 1285 bps — and 2026, when it soared 983 bps.
- BlackRock's Operating Margin stood at 34.23% in 2023, then climbed by 7 bps to 36.55% in 2024, then tumbled by 35 bps to 23.7% in 2025, then surged by 77 bps to 42.01% in 2026.
- Business Quant data shows BLK's Operating Margin at 42.01% in Q1 2026, 23.7% in Q4 2025, and 30.04% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 179.73 Bn | 165.86 Bn | - | 34.74% |
| 2 | Blackstone | 115.71 Bn | 113.20 Bn | - | - |
| 3 | Kkr | 98.07 Bn | -179.00 Bn | - | 35.61% |
| 4 | Brookfield | 93.78 Bn | 46.38 Bn | - | - |
| 5 | Brookfield Asset Management | 84.02 Bn | 82.51 Bn | - | - |
| 6 | Apollo Global Management | 79.25 Bn | 53.88 Bn | 10.54 Bn | 47.97% |
| 7 | State Street | 51.52 Bn | 51.52 Bn | - | - |
| 8 | Ameriprise Financial | 51.31 Bn | 40.27 Bn | 4.72 Bn | 24.36% |
| 9 | Northern Trust | 34.14 Bn | 34.14 Bn | - | - |
| 10 | Raymond James Financial | 34.07 Bn | 20.82 Bn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 34.74% |
| Mar 31, 2026 | 42.01% |
| Dec 31, 2025 | 23.70% |
| Sep 30, 2025 | 30.04% |
| Jun 30, 2025 | 31.92% |
| Mar 31, 2025 | 32.18% |
| Dec 31, 2024 | 36.55% |
| Sep 30, 2024 | 38.60% |
| Jun 30, 2024 | 37.46% |
| Mar 31, 2024 | 35.81% |
| Dec 31, 2023 | 34.23% |
| Sep 30, 2023 | 36.20% |