BLK (BlackRock) Operating Income : $7,142 Mil (TTM As of Sep. 2024)

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What is BlackRock Operating Income?

BlackRock's Operating Income for the three months ended in Sep. 2024 was $2,007 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Sep. 2024 was $7,142 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. BlackRock's Operating Income for the three months ended in Sep. 2024 was $2,007 Mil. BlackRock's Revenue for the three months ended in Sep. 2024 was $5,197 Mil. Therefore, BlackRock's Operating Margin % for the quarter that ended in Sep. 2024 was 38.62%.

Warning Sign:

BlackRock Inc operating margin has been in a 5-year decline. The average rate of decline per year is -1.9%.

BlackRock's 5-Year average Growth Rate for Operating Margin % was -1.90% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. BlackRock's annualized ROC % for the quarter that ended in Sep. 2024 was 5.28%. BlackRock's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2024 was 87.30%.

BlackRock Operating Income Historical Data

The historical data trend for BlackRock's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

BlackRock Operating Income Chart

BlackRock Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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5,635.00

6,313.00

7,488.00

6,489.00

6,333.00

BlackRock Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Operating Income	Get a 7-Day Free Trial															1,634.00	1,644.00	1,688.00	1,803.00	2,007.00

BlackRock Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Sep. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $7,142 Mil.

BlackRock (NYSE:BLK) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

BlackRock's annualized ROC % for the quarter that ended in Sep. 2024 is calculated as:

	ROC % (Q: Sep. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2024 )	+	Invested Capital (Q: Sep. 2024 ))	/ count )
=	8028 * ( 1 - 25.34% )	/	( (111741	+	115361)	/ 2 )
=	5993.7048	/	113551
=	5.28 %

where

	Invested Capital		(Q: Jun. 2024 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	125271	-	1351	-	( 12179	-	max(0, 1351	-	21526	+	12179	))
=	111741

	Invested Capital		(Q: Sep. 2024 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	132816	-	1449	-	( 16006	-	max(0, 1449	-	26996	+	16006	))
=	115361

Note: The Operating Income data used here is four times the quarterly (Sep. 2024) data.

2. Joel Greenblatt's definition of Return on Capital:

BlackRock's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2024		Q: Sep. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	9676	/	( ( (2511 + max(7758, 0))	+	(2514 + max(9384, 0)) )	/	2 )
=	9676	/	( ( 10269	+	11898 )	/	2 )
=	9676	/	11083.5
=	87.30 %

where Working Capital is:

	Working Capital		(Q: Jun. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(3987	+	0	+	5122)	-	(1351	+	0	+	0)
=	7758

	Working Capital		(Q: Sep. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(4385	+	0	+	6448)	-	(1449	+	0	+	0)
=	9384

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Sep. 2024) EBIT data.

3. Operating Income is also linked to Operating Margin %:

BlackRock's Operating Margin % for the quarter that ended in Sep. 2024 is calculated as:

Operating Margin %	=	Operating Income (Q: Sep. 2024 )	/	Revenue (Q: Sep. 2024 )
	=	2007	/	5197
	=	38.62 %

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

BlackRock Operating Income Related Terms

Thank you for viewing the detailed overview of BlackRock's Operating Income provided by GuruFocus.com. Please click on the following links to see related term pages.

BlackRock Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

BLK:Mexico 1BLK:Italy 0QZZ:UK UU2:Germany UU2:Germany UU2:Germany UU2:Germany BLK:Canada BLAK34:Brazil

Address

50 Hudson Yards, New York, NY, USA, 10001

Website

https://www.blackrock.com

BlackRock is the largest asset manager in the world, with $11.475 trillion in assets under management at the end of September 2024. Its product mix is fairly diverse, with 55% of managed assets in equity strategies, 26% in fixed income, 9% in multi-asset classes, 7% in money market funds, and 3% in alternatives. Passive strategies account for around two thirds of long-term AUM, with the company's ETF platform maintaining a leading market share domestically and on a global basis. Product distribution is weighted more toward institutional clients, which by our calculations account for around 80% of AUM. BlackRock is geographically diverse, with clients in more than 100 countries and more than one third of managed assets coming from investors domiciled outside the US and Canada.

Executives

Mark Wiedman	officer: Senior Managing Director	50 HUDSON YARDS, NEW YORK NY 10001
J. Richard Kushel	officer: Senior Managing Director	BLACKROCK, INC., 50 HUDSON YARDS, NEW YORK NY 10001
Laurence Fink	director, officer: Chairman and CEO	BLACKROCK, INC., 50 HUDSON YARDS, NEW YORK NY 10001
Pamela Daley	director	C/O PATHEON N.V., HERENGRACHT 483, AMSTERDAM P7 1017 BT
Rachel Lord	officer: Senior Managing Director	55 EAST 52ND STREET, NEW YORK NY 10055
Stephen Cohen	officer: Senior Managing Director	55 EAST 52ND STREET, NEW YORK NY 10055
Christopher J. Meade	officer: General Counsel and CLO	BLACKROCK, INC., 55 EAST 52ND STREET, NEW YORK NY 10055
Marc D. Comerchero	officer: Principal Accounting Officer	BLACKROCK, INC., 50 HUDSON YARDS, NEW YORK NY 10001
Martin Small	officer: CFO & Senior Managing Director	50 HUDSON YARDS, NEW YORK NY 10001
Amin H. Nasser	director	50 HUDSON YARDS, NEW YORK NY 10001
Caroline Heller	officer: Senior Managing Director	50 HUDSON YARDS, NEW YORK NY 10001
Manish Mehta	officer: Senior Managing Director	55 EAST 52ND STREET, NEW YORK NY 10055
Mark Mccombe	officer: Senior Managing Director	BLACKROCK, INC., 55 EAST 52ND STREET, NEW YORK NY 10055
Robert Kapito	director, officer: President	100 BELLEVUE PARKWAY, WILMINGTON DE 19809
William E Ford	director	55 EAST 52ND STREET, 32ND FLOOR, NEW YORK NY 10055