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BlackRock vs Raymond James Financial: BLK and RJF compared
BlackRock is the larger company: $7.8B of revenue in its latest quarter (Q3 2026) against $4.7B for Raymond James Financial (Q4 FY26). BlackRock is growing faster (+19% against +13% a year earlier). BlackRock is more profitable, with an operating margin of 30.0% against 18.2%.
Where the money goes: BLK and RJF
BlackRock (BLK) · Q3 2026
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 follows the revenue to costs, profit and cash.
Raymond James Financial (RJF) · Q4 FY26
Raymond James Financial, Q4 FY26: revenue $4.7B (+13% year over year), operating margin 18.2%, net earnings $666M. The chart follows the revenue to costs, profit and cash.
| BlackRock (BLK) | Raymond James Financial (RJF) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q4 FY26 |
| Revenue | $7.8B | $4.7B |
| Revenue growth, Y/Y | +19% | +13% |
| Operating margin | 30.0% | 18.2% |
| Net earnings | $1.7B | $666M |
| Net margin | 21.4% | 14.1% |
| Operating cash flow | $2.7B | — |
| Free cash flow | $2.6B | — |
| Market value | $192.6B | $32.5B |
| P/E | 26.7× | 14.1× |
| Analysts’ mean target | $1361.06 | $182.21 |
Where the revenue comes from
BlackRock
- Investment Advice: $6.0B (78%)
- Investment Performance: $630M (8%)
- Technology Services and Subscription Revenue: $588M (8%)
- Distribution and Shareholder Service: $414M (5%)
Questions
Which is bigger, BlackRock or Raymond James Financial?
BlackRock is the larger company: $7.8B of revenue in its latest quarter (Q3 2026) against $4.7B for Raymond James Financial (Q4 FY26).
Is BlackRock or Raymond James Financial growing faster?
BlackRock is growing faster (+19% against +13% a year earlier).
Which is more profitable, BlackRock or Raymond James Financial?
BlackRock is more profitable, with an operating margin of 30.0% against 18.2%.
More: BlackRock earnings · how BlackRock makes money · Raymond James Financial earnings · how Raymond James Financial makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 4, 2026; 8-K filed Oct 28, 2026). Fiscal quarters can end on different dates. Not investment advice.