BlackRock, Inc.
Explore BlackRock
Core profile pages, annual revenue records, and related research hubs for this company.
BlackRock, Inc.
Explore BlackRock
Core profile pages, annual revenue records, and related research hubs for this company.
Business Model Analysis
Annual Revenue: $24.2B
BlackRock earns recurring fees from assets under management, advisory mandates, ETFs, alternatives, technology subscriptions, performance fees, distribution services, and securities lending. Its economics rise and fall with market levels, client flows, and product mix.
BlackRock is building a broader public-private platform: iShares for ETFs, Aladdin and Preqin for technology and data, GIP and HPS for private markets, and retirement solutions for long-duration client demand.
BlackRock makes money from investment advisory and administration fees, performance fees, technology services, subscription revenue, distribution fees, and securities lending.
BlackRock serves institutions, pension plans, governments, wealth managers, financial advisors, insurers, corporations, and individual investors.
Base fees on assets under management remain the largest driver, while iShares, private markets, and Aladdin expand the revenue mix.
The model is durable because assets under management, ETF scale, institutional relationships, and Aladdin workflows create recurring fee streams.
BlackRock's biggest risk is sensitivity to market levels, fee compression, regulatory scrutiny, and execution risk as private-market acquisitions expand the platform.