BlackRock annual operating margin
2022
2023
2024
2025
BlackRock Operating Margin Growth & History (BLK)
BlackRock's operating margin was 29.09% for fiscal 2025.
View full BlackRock company overviewBlackRock annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 29.09% | −8.02 pp |
| 2024 | 2024-12-31 | 37.11% | +1.98 pp |
| 2023 | 2023-12-31 | 35.14% | −0.59 pp |
| 2022 | 2022-12-31 | 35.72% | — |
BlackRock quarterly operating margin
Q3.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 34.74% | +2.82 pp |
| Q1 2026 | 2026-03-31 | 42.01% | +9.83 pp |
| Q4 2025 | 2025-12-31 | 23.70% | −12.85 pp |
| Q3 2025 | 2025-09-30 | 30.04% | −8.56 pp |
| Q2 2025 | 2025-06-30 | 31.92% | −5.54 pp |
| Q1 2025 | 2025-03-31 | 32.18% | −3.62 pp |
| Q4 2024 | 2024-12-31 | 36.55% | — |
| Q3 2024 | 2024-09-30 | 38.60% | +2.40 pp |
| Q2 2024 | 2024-06-30 | 37.46% | — |
| Q1 2024 | 2024-03-31 | 35.81% | — |
| Q3 2023 | 2023-09-30 | 36.20% | — |
BlackRock operating margin trends
Between the periods ended 2022-12-31 and 2025-12-31, BlackRock's operating margin decreased from 35.72% to 29.09%, a change of −6.63 percentage points. The latest reported quarter, Q2 2026, shows 34.74%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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