Company Valuation: BlackRock, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 139,089 106,433 120,765 158,768 166,064 160,592 - -
Change - -23.48% 13.47% 31.47% 4.6% -3.3% - -
Enterprise Value (EV) 1 137,212 105,671 119,947 158,320 167,365 157,463 152,712 146,799
Change - -22.99% 13.51% 31.99% 5.71% -5.92% -3.02% -3.87%
P/E 24x 20.9x 22.2x 24.4x 30.3x 20.5x 18.3x 15.7x
PBR 3.68x 2.81x 3.06x 3.34x 2.97x 3.07x 2.88x 2.37x
PEG - -1.9x 2.97x 1.6x -1.9x 0.5x 1.5x 1x
Capitalization / Revenue 7.18x 5.95x 6.76x 7.78x 6.86x 5.6x 5.03x 4.5x
EV / Revenue 7.08x 5.91x 6.72x 7.76x 6.91x 5.49x 4.78x 4.11x
EV / EBITDA 17.4x 15.5x 17.9x 19.5x 15.6x 12x 10.5x 8.68x
EV / EBIT 18.4x 16.5x 19.1x 20.9x 23.8x 13.9x 12.1x 9.7x
EV / FCF 29.8x 23.9x 31.4x 33.7x 47.1x 16.6x 14.2x 11.9x
FCF Yield 3.35% 4.19% 3.19% 2.97% 2.12% 6.03% 7.04% 8.43%
Dividend per Share 2 16.52 19.52 20 20.4 20.84 22.71 24.87 27.43
Rate of return 1.8% 2.75% 2.46% 1.99% 1.95% 2.19% 2.4% 2.65%
EPS 2 38.22 33.97 36.51 42.01 35.31 50.65 56.71 65.78
Distribution rate 43.2% 57.5% 54.8% 48.6% 59% 44.8% 43.9% 41.7%
Net sales 1 19,374 17,873 17,859 20,407 24,216 28,666 31,916 35,712
EBITDA 1 7,865 6,803 6,702 8,103 10,726 13,100 14,513 16,904
EBIT 1 7,450 6,385 6,275 7,574 7,045 11,332 12,627 15,129
Net income 1 5,901 5,178 5,502 6,369 5,553 8,303 9,205 10,480
Net Debt 1 -1,877 -762 -818 -448 1,301 -3,130 -7,880 -13,793
Reference price 2 915.56 708.63 811.80 1,025.11 1,070.34 1,036.11 1,036.11 1,036.11
Nbr of stocks (in thousands) 151,917 150,196 148,762 154,879 155,151 154,995 - -
Announcement Date 14/01/22 13/01/23 12/01/24 15/01/25 15/01/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
20.08x5.49x12.02x2.19% 161B
15.2x3.52x - 2.35% 158B
17.12x7.47x - 1.51% 104B
25.51x11.86x20.35x4.24% 74.76B
14.34x5.29x - 1.94% 49.88B
11.73x1.74x5.43x1.32% 45.56B
4.96x5.05x5.04x3.5% 36.48B
14.31x5.43x17.93x1.8% 33.97B
11.37x2.69x6.76x4.37% 25.4B
Average 14.96x 5.39x 11.26x 2.58% 76.6B
Weighted average by Cap. 16.73x 5.64x 12.38x 2.4%

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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