Company Valuation: BlackRock, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 139,089 106,433 120,765 158,768 166,064 164,627 - -
Change - -23.48% 13.47% 31.47% 4.6% -0.87% - -
Enterprise Value (EV) 1 137,212 105,671 119,947 158,320 167,365 161,280 156,522 150,574
Change - -22.99% 13.51% 31.99% 5.71% -3.64% -2.95% -3.8%
P/E 24x 20.9x 22.2x 24.4x 30.3x 19.7x 17.5x 15.4x
PBR 3.68x 2.81x 3.06x 3.34x 2.97x 2.88x 2.67x 2.43x
PEG - -1.9x 2.97x 1.6x -1.9x 0.4x 1.4x 1.1x
Capitalization / Revenue 7.18x 5.95x 6.76x 7.78x 6.86x 5.63x 5.04x 4.51x
EV / Revenue 7.08x 5.91x 6.72x 7.76x 6.91x 5.51x 4.79x 4.12x
EV / EBITDA 17.4x 15.5x 17.9x 19.5x 15.6x 11.8x 10.1x 8.85x
EV / EBIT 18.4x 16.5x 19.1x 20.9x 23.8x 14.3x 12.3x 10.2x
EV / FCF 29.8x 23.9x 31.4x 33.7x 47.1x 16.2x 14.4x 12x
FCF Yield 3.35% 4.19% 3.19% 2.97% 2.12% 6.18% 6.97% 8.33%
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% 2.16% 2.34% 2.58%
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 1,062.14 1,062.14 1,062.14
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
15.52x3.61x - 2.32% 162B
17.14x7.56x - 1.46% 107B
25.78x12.04x20.69x4.18% 75.96B
13.85x5.3x - 1.9% 50.73B
11.93x1.8x5.52x1.23% 47.56B
5.51x5.78x4.74x3.37% 37.4B
14.54x5.32x16.57x1.84% 33.39B
11.66x2.71x6.72x4.35% 25.54B
Average 14.49x 5.51x 10.85x 2.58% 67.51B
Weighted average by Cap. 15.87x 5.79x 12.45x 2.41%

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