Filing Flows › BlackRock (BLK) › Q3 2026 › vs Q3 2025
BlackRock (BLK) Q3 2026 vs Q3 2025 (year over year)
BlackRock's revenue rose $1.2B (+19%) from $6.5B in Q3 2025 to $7.8B in Q3 2026. The biggest changes: Investment Advice +$990M (+20%); Investment Performance +$114M (+22%); Technology Services and Subscription Revenue +$73.0M (+14%). Operating margin 30.0% against 30.0% (-0.0 pts).
BlackRock, Q3 2026: revenue $7.8B (+19% year over year), operating margin 30.0%, net earnings $1.7B, operating cash flow $2.7B. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 30.0% | 30.0% | -0.0 pts |
| Net margin | 21.4% | 20.3% | +1.1 pts |
| Free cash flow margin | 33.6% | 20.5% | +13.1 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Investment Advice | $6.0B | $5.0B | $990M | +20% |
| Investment Performance | $630M | $516M | $114M | +22% |
| Technology Services and Subscription Revenue | $588M | $515M | $73.0M | +14% |
| Distribution and Shareholder Service | $414M | $355M | $59.0M | +17% |
| Service Other | $84.0M | $77.0M | $7.0M | +9% |
| Revenue | $7.8B | $6.5B | $1.2B | +19% |
| Other income, net | $316M | $42.0M | $274M | +652% |
| Operating profit | $2.3B | $2.0B | $373M | +19% |
| Costs & expenses | $5.4B | $4.6B | $870M | +19% |
| Pre-tax earnings | $2.6B | $2.0B | $647M | +32% |
| General & admin | $731M | $689M | $42.0M | +6% |
| Other operating costs | $4.7B | $3.9B | $828M | +21% |
| Net earnings | $1.7B | $1.3B | $336M | +25% |
| Minority interests | $261M | $204M | $57.0M | +28% |
| Income tax | $724M | $470M | $254M | +54% |
| Depreciation & amortization | $386M | $346M | $40.0M | +12% |
| Share-based compensation | $290M | $419M | −$129M | -31% |
| Working capital & other | $371M | −$674M | $1.0B | — |
| Operating cash flow | $2.7B | $1.4B | $1.3B | +91% |
| Free cash flow (OCF − capex) | $2.6B | $1.3B | $1.3B | +95% |
| Capital expenditures | $101M | $78.0M | $23.0M | +29% |
Questions
How much did BlackRock's revenue grow year over year in Q3 2026?
BlackRock's revenue rose $1.2B (+19%) from $6.5B in Q3 2025 to $7.8B in Q3 2026.
What drove BlackRock's revenue change in Q3 2026?
Investment Advice +$990M (+20%); Investment Performance +$114M (+22%); Technology Services and Subscription Revenue +$73.0M (+14%).