Company Valuation: BlackRock, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 110,043 139,089 106,433 120,765 158,768 176,829 176,829 -
Change - 26.4% -23.48% 13.47% 31.47% 11.38% 0% -
Enterprise Value (EV) 1 108,643 137,212 105,671 119,947 158,320 177,818 174,391 170,041
Change - 26.3% -22.99% 13.51% 31.99% 12.32% -1.93% -2.49%
P/E ratio 22.7x 24x 20.9x 22.2x 24.4x 30.3x 21.6x 20x
PBR 3.12x 3.68x 2.81x 3.06x 3.34x 3.68x 3.51x 3.28x
PEG - 1.2x -1.9x 2.97x 1.6x -1.9x 0.7x 2.41x
Capitalization / Revenue 6.79x 7.18x 5.95x 6.76x 7.78x 6.86x 6.32x 5.73x
EV / Revenue 6.7x 7.08x 5.91x 6.72x 7.76x 7.43x 6.23x 5.51x
EV / EBITDA 17.6x 17.4x 15.5x 17.9x 19.5x 18.4x 13.8x 11.6x
EV / EBIT 19.1x 18.4x 16.5x 19.1x 20.9x 20.2x 15.8x 13.5x
EV / FCF 30.6x 29.8x 23.9x 31.4x 33.7x 27.3x 19.9x 16.7x
FCF Yield 3.27% 3.35% 4.19% 3.19% 2.97% 3.66% 5.04% 5.99%
Dividend per Share 2 14.52 16.52 19.52 20 20.4 20.84 22.84 24.75
Rate of return 2.01% 1.8% 2.75% 2.46% 1.99% 1.95% 2% 2.17%
EPS 2 31.85 38.22 33.97 36.51 42.01 35.31 52.73 57.11
Distribution rate 45.6% 43.2% 57.5% 54.8% 48.6% 59% 43.3% 43.3%
Net sales 1 16,205 19,374 17,873 17,859 20,407 24,216 27,972 30,885
EBITDA 1 6,171 7,865 6,803 6,702 8,103 9,648 12,674 14,607
EBIT 1 5,695 7,450 6,385 6,275 7,574 7,045 11,064 12,580
Net income 1 4,932 5,901 5,178 5,502 6,369 5,553 8,640 9,285
Net Debt 1 -1,400 -1,877 -762 -818 -448 989.8 -2,437 -6,787
Reference price 2 721.54 915.56 708.63 811.80 1,025.11 1,139.72 1,139.72 1,139.72
Nbr of stocks (in thousands) 152,511 151,917 150,196 148,762 154,879 155,151 155,151 -
Announcement Date 14/01/21 14/01/22 13/01/23 12/01/24 15/01/25 15/01/26 - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
28.65x7.43x18.43x1.83% 177B
20.99x3.65x - 2.09% 152B
31.49x15.35x28.2x3.41% 83.17B
16.45x6.87x - 1.66% 82.71B
14.32x2.05x6.38x1.21% 47.2B
5.43x5.26x4.85x2.57% 43.57B
13.62x5.37x - 2.48% 35.85B
17.7x5.43x18.62x2.02% 28.53B
12.82x2.88x - 2.91% 23.59B
Average 17.94x 6.03x 15.30x 2.24% 74.84B
Weighted average by Cap. 21.45x 6.61x 17.53x 2.15%
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Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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