BlackRock (BLK) Operating Margin (2023 - 2026)

BlackRock (BLK) reported Operating Margin of 42.01% for Q1 2026, up 983.0% year-over-year from 3.88% in Q1 2025, and up 176.69% quarter-over-quarter from 54.78% in Q4 2025.

BlackRock (BLK) Operating Margin (2023 - 2026) Analysis & Trends

BlackRock (BLK) has 4 years of Operating Margin data on file, last reported at 42.01% in Q1 2026.

  • Operating Margin for Q1 2026 came in at 42.01%, up 983.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 10.38% (up 219.0% YoY), and the FY2025 annual result was 6.38%, down 201.0% from the prior year.
  • Operating Margin improved to 42.01% in Q1 2026 per BLK's latest filing, from 54.78% in the prior quarter.
  • Over five years, Operating Margin peaked at 42.01% in Q1 2026 and troughed at 69.62% in Q4 2023.
  • A 4-year average of 8.46% and a median of 32.18% in 2025 frame the typical range for Operating Margin.
  • On a YoY basis, Operating Margin climbed as much as 1193 bps in 2025 and fell as far as 856 bps in 2025.
  • A 4-year view of Operating Margin shows it stood at 69.62% in 2023, then grew by 4 bps to 66.71% in 2024, then advanced by 18 bps to 54.78% in 2025, then surged by 177 bps to 42.01% in 2026.
  • Business Quant data shows BLK's Operating Margin at 42.01% in Q1 2026, 54.78% in Q4 2025, and 30.04% in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Operating Margin (Qtr)
1 BlackRock 163.18 Bn 153.56 Bn - 42.01%
2 Blackstone 96.85 Bn 95.80 Bn - -
3 Kkr 86.45 Bn 133.96 Bn - 46.06%
4 Apollo Global Management 82.30 Bn 101.04 Bn 5.04 Bn 1.56%
5 State Street 46.95 Bn 21.27 Bn - -
6 Ameriprise Financial 43.65 Bn 43.52 Bn 4.57 Bn 18.44%
7 Northern Trust 31.92 Bn 31.92 Bn - -
8 Raymond James Financial 30.62 Bn 19.37 Bn - -
9 Ares Management 29.04 Bn 32.41 Bn - -
10 Principal Financial 23.79 Bn 20.28 Bn -463.00 Mn 104.43%

Historic Data

Download Data
DateValue
Mar 31, 2026 42.01%
Dec 31, 2025 -54.78%
Sep 30, 2025 30.04%
Jun 30, 2025 31.92%
Mar 31, 2025 32.18%
Dec 31, 2024 -66.71%
Sep 30, 2024 38.60%
Jun 30, 2024 37.46%
Mar 31, 2024 35.81%
Dec 31, 2023 -69.62%
Sep 30, 2023 36.20%