BlackRock (BLK) Operating Margin (2023 - 2026)
BlackRock (BLK) recorded Operating Margin of 34.74% in Q2 2026, up 2.82 percentage points from 31.92% a year earlier but down 7.27 percentage points from the prior quarter.
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Analysis
BlackRock (BLK) Operating Margin (2023 - 2026) Analysis & Trends
On a TTM basis, BlackRock's Operating Margin came in at 32.57% as of Jun 30, 2026, down 2.24 percentage points year-over-year; for FY2025, it came in at 29.09%, down 8.02 percentage points from FY2024.
- Annual Operating Margin has a three-year change of -6.63 percentage points (FY2022 to FY2025).
- Across earlier years, Operating Margin came in at 37.11% in FY2024 (+1.98 pp), 35.14% in FY2023 (-0.59 pp) and 35.72% in FY2022.
- Quarterly Operating Margin has ranged from 23.70% in Q4 2025 to 42.01% in Q1 2026 over the past five years.
- On a year-over-year basis, Operating Margin rose in four of the last eight quarters, with an average year-over-year change of -1.65 percentage points.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 9.83 percentage points in Q1 2026, against a drop of 12.85 percentage points in Q4 2025 at the low end.
- Per Business Quant, the preceding three quarters came in at 42.01% (Q1 2026), 23.70% (Q4 2025) and 30.04% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 188.98 Bn | 145.51 Bn | - | 30.03% |
| 2 | Spdr Gold Trust | 130.03 Bn | -427.97 Bn | - | - |
| 3 | Brookfield | 104.97 Bn | -79.04 Bn | - | - |
| 4 | Blackstone | 93.15 Bn | 87.36 Bn | - | - |
| 5 | Kkr | 90.40 Bn | 57.10 Bn | 1.76 Bn | -42.84% |
| 6 | Brookfield Asset Management | 85.45 Bn | 80.34 Bn | - | - |
| 7 | Apollo Global Management | 72.50 Bn | 89.29 Bn | 4.14 Bn | -29.25% |
| 8 | Wheaton Precious Metals | 62.02 Bn | 62.02 Bn | 538.50 Mn | - |
| 9 | Ares Management | 50.21 Bn | 48.79 Bn | 376.28 Mn | -53.88% |
| 10 | Franco Nevada | 49.31 Bn | 46.68 Bn | 451.00 Mn | 76.73% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 30.03% |
| 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% |
API Access
BlackRock Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=BLK&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "BLK", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=BLK&period=max&api_key=YOUR_API_KEY");
const data = await res.json();