Company Valuation: BlackRock, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 139,089 106,433 120,765 158,768 166,064 174,622 - -
Change - -23.48% 13.47% 31.47% 4.6% 5.15% - -
Enterprise Value (EV) 1 137,212 105,671 119,947 158,320 167,365 171,276 166,518 160,570
Change - -22.99% 13.51% 31.99% 5.71% 2.34% -2.78% -3.57%
P/E 24x 20.9x 22.2x 24.4x 30.3x 20.9x 18.6x 16.4x
PBR 3.68x 2.81x 3.06x 3.34x 2.97x 3.05x 2.83x 2.58x
PEG - -1.9x 2.97x 1.6x -1.9x 0.4x 1.5x 1.2x
Capitalization / Revenue 7.18x 5.95x 6.76x 7.78x 6.86x 5.97x 5.35x 4.78x
EV / Revenue 7.08x 5.91x 6.72x 7.76x 6.91x 5.85x 5.1x 4.39x
EV / EBITDA 17.4x 15.5x 17.9x 19.5x 15.6x 12.5x 10.8x 9.44x
EV / EBIT 18.4x 16.5x 19.1x 20.9x 23.8x 15.1x 13.1x 10.9x
EV / FCF 29.8x 23.9x 31.4x 33.7x 47.1x 17.2x 15.3x 12.8x
FCF Yield 3.35% 4.19% 3.19% 2.97% 2.12% 5.82% 6.55% 7.81%
Dividend per Share 2 16.52 19.52 20 20.4 20.84 22.92 24.81 27.43
Rate of return 1.8% 2.75% 2.46% 1.99% 1.95% 2.03% 2.2% 2.43%
EPS 2 38.22 33.97 36.51 42.01 35.31 53.99 60.53 68.8
Distribution rate 43.2% 57.5% 54.8% 48.6% 59% 42.5% 41% 39.9%
Net sales 1 19,374 17,873 17,859 20,407 24,216 29,264 32,650 36,538
EBITDA 1 7,865 6,803 6,702 8,103 10,726 13,648 15,444 17,015
EBIT 1 7,450 6,385 6,275 7,574 7,045 11,316 12,710 14,697
Net income 1 5,901 5,178 5,502 6,369 5,553 8,682 9,692 10,694
Net Debt 1 -1,877 -762 -818 -448 1,301 -3,347 -8,104 -14,053
Reference price 2 915.56 708.63 811.80 1,025.11 1,070.34 1,126.63 1,126.63 1,126.63
Nbr of stocks (in thousands) 151,917 150,196 148,762 154,879 155,151 154,995 - -
Announcement Date 1/14/22 1/13/23 1/12/24 1/15/25 1/15/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.79x3.6x - 2.37% 161B
16.97x7.51x - 1.48% 106B
26.19x12.24x21.03x4.12% 77.09B
13.78x5.29x - 1.91% 50.45B
12.24x1.86x5.71x1.2% 48.8B
5.64x5.56x4.84x3.29% 38.57B
14.33x5.31x16.55x1.84% 33.33B
11.11x2.61x6.69x4.57% 24.21B
Average 14.38x 5.50x 10.97x 2.6% 67.38B
Weighted average by Cap. 15.68x 5.81x 12.62x 2.43%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield