BlackRock's Income Statement Analysis: Revenue to Profit Breakdown
BlackRock's Income Statement Analysis: Revenue to Profit Breakdown
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FY21
Dec 31, 2021
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FY22
Dec 31, 2022
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FY23
Dec 31, 2023
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FY24
Dec 31, 2024
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FY25
Dec 31, 2025
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TTM
Trailing 12M
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Revenue
Total sales generated. |
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$19.37 B | $17.87 B | $17.86 B | $20.41 B | $24.22 B | $25.71 B |
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Cost of Revenue Direct cost of goods/services. |
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$9.56 B | $9.19 B | $9.28 B | $10.32 B | $10.77 B | $10.50 B |
Gross Profit Revenue minus cost of revenue. |
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$9.82 B | $8.68 B | $8.58 B | $10.09 B | $13.45 B | $15.21 B |
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Operating Expense
Costs to run business. |
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$2.37 B | $2.30 B | $2.31 B | $2.51 B | $6.40 B | $7.53 B |
Research and Development Investment in innovation. |
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- | - | $607.00 M | $674.00 M | $189.00 M | - |
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Sales, General and Administrative
Selling and admin costs. |
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$2.19 B | $2.05 B | $2.10 B | $2.26 B | $4.69 B | $3.39 B |
General and Administrative Corporate overhead costs. |
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$1.96 B | $1.80 B | $1.79 B | $1.94 B | $4.42 B | $3.11 B |
Sales and Marketing Customer acquisition costs. |
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$228.00 M | $255.00 M | $309.00 M | $314.00 M | $272.00 M | $276.00 M |
Other Expenses Other operating costs. |
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$181.00 M | $245.00 M | -$398.00 M | -$419.00 M | $1.52 B | $4.14 B |
Operating Income Profit from operations. |
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$7.45 B | $6.39 B | $6.28 B | $7.57 B | $7.05 B | $7.68 B |
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Net Interest Income
Interest income minus expense. |
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-$118.00 M | -$60.00 M | $181.00 M | $229.00 M | -$21.00 M | -$98.00 M |
Interest Income Income from investments. |
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$87.00 M | $152.00 M | $473.00 M | $767.00 M | $685.00 M | $518.00 M |
Interest Expense Cost of borrowing. |
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$205.00 M | $212.00 M | $292.00 M | $538.00 M | $706.00 M | $616.00 M |
Non-Operating Income (ex-Int) Income outside core operations. |
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-$34.00 M | -$94.00 M | -$71.00 M | -$104.00 M | -$765.00 M | -$1.27 B |
Total Other Income (Net) Net non-operating items. |
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$723.00 M | -$95.00 M | $880.00 M | $721.00 M | $574.00 M | $1.02 B |
Income Before Tax Profit before taxes. |
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$8.17 B | $6.29 B | $7.16 B | $8.30 B | $7.62 B | $8.70 B |
Income Tax Expense Taxes on income. |
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$1.97 B | $1.30 B | $1.48 B | $1.78 B | $1.68 B | $1.95 B |
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Net Income
Final profit. |
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$5.90 B | $5.18 B | $5.50 B | $6.37 B | $5.55 B | $6.26 B |
Net Income From Continuing Operations Profit from core business. |
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$6.21 B | $4.99 B | $5.68 B | $6.51 B | $5.94 B | $6.75 B |
Net Income From Discontinued Operations Profit/loss from sold units. |
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- | - | - | - | - | - |
Other Adjustments to Net Income Additional accounting adjustments. |
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- | - | - | - | - | - |
Net Income Deductions Reductions from net income. |
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- | - | - | - | - | - |
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Earnings Per Share
Company profit allocated to each outstanding share. |
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EPS Earnings per share. Formula: Net Income ÷ Shares |
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$38.76 | $34.31 | $36.85 | $42.45 | $35.84 | $40.34 |
Diluted EPS EPS including dilution. Formula: Net Income ÷ Diluted Shares |
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$38.22 | $33.97 | $36.51 | $42.01 | $35.42 | $39.84 |
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Shares for EPS
Number of shares used to calculate EPS. |
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Weighted Average Shares Outst. Avg shares used for EPS. |
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152.24 M | 150.92 M | 149.30 M | 150.04 M | 155.10 M | 155.30 M |
Diluted Average Shares Outst. Shares including dilution. |
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154.40 M | 152.44 M | 150.71 M | 151.60 M | 165.40 M | 165.00 M |
| Supplemental Items | |||||||
EBIT Earnings before interest and tax. |
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$7.48 B | $6.48 B | $6.35 B | $7.68 B | $7.81 B | $8.95 B |
EBITDA Earnings before interest, tax, D&A. |
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$7.90 B | $6.90 B | $6.77 B | $8.21 B | $8.47 B | $9.79 B |
Depreciation and Amortization Non-cash expense for assets. |
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$415.00 M | $418.00 M | $427.00 M | $529.00 M | $664.00 M | $839.00 M |
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BlackRock's Assets vs Liabilities & Equity
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