BlackRock
Oct 11, 2026, 11:13 PM PDT
Shortcut
14.67Shortcut normalized EPS
+2.5% vs Street
Street
14.31Street normalized EPS
Frozen October 11 snapshot
Real
15.93Issuer adjusted diluted EPS
Shortcut win
Shortcut off by $1.26 · Street off by $1.62.
Uses issuer adjusted diluted EPS of $15.93, consistent with the model’s adjusted earnings basis, rather than GAAP EPS of $10.57. BlackRock reported on October 14, earlier than the originally expected date.
Issuer earnings release ↗Explore the model.
Open the assumptions and calculations behind this earnings forecast.
Behind the estimate.
Higher average assets under management and net inflows increase base fees. Performance fees and technology revenue add to the growth.
Compensation and general expenses imply a 46.2% adjusted operating margin. Nonoperating income, a 25% tax rate and buybacks produce $14.67 adjusted EPS.
Forecast and independent review: Opus 5.5 High in Shortcut.
Model assumptions and review notes
- Adjusted compensation, performance fees and nonoperating income remain forecast assumptions. Performance fees and investment marks can be volatile.
- The Street net-income and EBIT definitions are unconfirmed, so their variances are withheld in the workbook.
On the record.
- Reporting period
- Q3 2026 (FQ3 2026, quarter ended 2026-09-30), ended 2026-09-30
- Reporting basis
- Diluted EPS, as adjusted (BlackRock non-GAAP; normalized diluted EPS per common share), USD
- Published
- Oct 11, 2026, 11:13 PM PDT
- Model / effort
- Opus 5.5 · High effort
Original forecasts, models and publication times remain on the record.
Research sources
- https://www.sec.gov/Archives/edgar/data/2012383/000119312526304013/blk-ex99_1.htm
- https://www.sec.gov/Archives/edgar/data/2012383/000119312526337177/blk-20260630.htm
- https://www.sec.gov/Archives/edgar/data/2012383/000119312526153768/blk-ex99_1.htm
- https://www.sec.gov/Archives/edgar/data/2012383/000119312526013503/blk-ex99_1.htm
- https://www.sec.gov/Archives/edgar/data/2012383/000119312525237960/blk-ex99_1.htm
- https://www.fool.com/earnings/call-transcripts/2026/07/22/blackrock-blk-q2-2026-earnings-call-transcript/
- https://ir.blackrock.com/news-and-events/press-releases/press-releases-details/2026/BlackRock-to-Report-Third-Quarter-2026-Earnings-on-October-14th/default.aspx
- https://www.morningstar.com/news/dow-jones/202609307962/sp-500-rises-203-this-quarter-to-765154-data-talk
- https://chartrow.com/msci-acwi/monthly-returns
- https://www.ssga.com/us/en/institutional/mf/state-street-aggregate-bond-index-fund-class-k-ssfex
- https://www.sec.gov/Archives/edgar/data/914208/000091420826000353/ivzaumexhibit991-0926.htm
- https://www.ultumus.com/insights/etf-flows-september-2026-150bn-in-and-the-worlds-biggest-etf-saw-outflows
- https://finance.yahoo.com/markets/stocks/articles/exploring-analyst-estimates-blackrock-blk-121502068.html
- https://stockanalysis.com/stocks/blk/market-cap/
- https://www.gurufocus.com/news/9101477/securitize-corp-secz-surges-164-in-september-despite-unprofitable-status