BLKBlackRock

Financials · Brokers & Investment Banks · NYSE

BLK and 9 peers, year by year

The 9 Financials companies closest to BLK in revenue over the last twelve months. Every number is from the 10-K and links to it in SEC's Inline XBRL viewer.

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Each company's latest fiscal year
Company	Year	Revenue	Sales growth	Gross margin	Operating margin	Net margin	FCF margin	Return on equity	Debt / equity
BLK BlackRock	FY2025	$24.2B	+18.7%	-	29.1%	22.9%	14.7%	9.9%	0.23
MRSH Marsh McLennan	FY2025	$27.0B	+10.3%	-	23.1%	15.4%	18.5%	27.2%	1.28
AIG American International Group	FY2025	$26.8B	−1.7%	-	-	11.6%	-	7.5%	0.22
HIG The Hartford	FY2025	$28.4B	+3.3%	-	-	13.5%	20.3%	20.2%	0.23
SCHW Charles Schwab Corporation	FY2025	$23.9B	+22.0%	-	-	37.0%	36.6%	17.9%	0.49
USB U.S. Bancorp	FY2025	$28.7B	+4.4%	-	-	26.4%	-	11.6%	1.20
APO Apollo Global Management	FY2025	$32.0B	+22.7%	-	-	10.9%	-	15.0%	0.57
PNC PNC Financial Services	FY2025	$23.1B	+7.2%	-	-	28.5%	-	10.9%	0.94
XYZ Block, Inc.	FY2025	$24.2B	+0.3%	42.8%	7.1%	5.4%	10.0%	5.9%	0.33
PYPL PayPal	FY2025	$33.2B	+4.3%	-	18.3%	15.8%	16.8%	25.8%	0.57

Revenuepeer median $27.0B

Sales growthpeer median +4.4%

Operating marginpeer median 18.3%

BLK 29.1%
MRSH 23.1%
PYPL 18.3%
XYZ 7.1%
AIG -
HIG -
SCHW -
USB -
APO -
PNC -

Net marginpeer median 15.4%

FCF marginpeer median 18.5%

SCHW 36.6%
HIG 20.3%
MRSH 18.5%
PYPL 16.8%
BLK 14.7%
XYZ 10.0%
AIG -
USB -
APO -
PNC -

Return on equitypeer median 15.0%

Debt / equitypeer median 0.57

RevenueSales growthGross marginOperating marginNet marginFree cash flowFCF marginReturn on equityDebt / equityEPS (diluted)

Revenue, FY2022 to FY2025

Revenue as reported in the 10-K.

Company	FY2022	FY2023	FY2024	FY2025
BLK Dec	$17.9B	$17.9B	$20.4B	$24.2B
MRSH Dec	$20.7B	$22.7B	$24.5B	$27.0B
AIG Dec	$30.0B	$27.9B	$27.3B	$26.8B
HIG Dec	$22.4B	$24.5B	$26.5B	$28.4B
SCHW Dec	$20.8B	$18.8B	$19.6B	$23.9B
USB Dec	$24.3B	$28.1B	$27.5B	$28.7B
APO Dec	$11.0B	$32.6B	$26.1B	$32.0B
PNC Dec	$21.1B	$21.5B	$21.6B	$23.1B
XYZ Dec	$17.5B	$21.9B	$24.1B	$24.2B
PYPL Dec	$27.5B	$29.8B	$31.8B	$33.2B
Peer median	$21.1B	$24.5B	$26.1B	$27.0B

Sales growth, FY2022 to FY2025

Revenue against the fiscal year before.

Company	FY2022	FY2023	FY2024	FY2025
BLK Dec	-	−0.1%	+14.3%	+18.7%
MRSH Dec	+4.5%	+9.7%	+7.6%	+10.3%
AIG Dec	+4.4%	−6.9%	−2.5%	−1.7%
HIG Dec	−9.3%	−2.9%	+5.5%	+3.3%
SCHW Dec	+12.1%	−9.3%	+4.1%	+22.0%
USB Dec	+7.0%	+15.8%	−2.4%	+4.4%
APO Dec	+84.3%	+198%	−20.0%	+22.7%
PNC Dec	+9.9%	+1.8%	+0.3%	+7.2%
XYZ Dec	−0.7%	+25.0%	+10.1%	+0.3%
PYPL Dec	+8.5%	+8.2%	+6.8%	+4.3%
Peer median	+7.0%	+8.2%	+4.1%	+4.4%

Gross margin, FY2022 to FY2025

Gross profit / revenue.

Company	FY2022	FY2023	FY2024	FY2025
BLK Dec	-	-	-	-
MRSH Dec	-	-	-	-
AIG Dec	-	-	-	-
HIG Dec	-	-	-	-
SCHW Dec	-	-	-	-
USB Dec	-	-	-	-
APO Dec	-	-	-	-
PNC Dec	-	-	-	-
XYZ Dec	34.2%	34.2%	36.9%	42.8%
PYPL Dec	-	-	-	-
Peer median	-	-	-	-

Operating margin, FY2022 to FY2025

Operating income / revenue.

Company	FY2022	FY2023	FY2024	FY2025
BLK Dec	35.7%	35.1%	37.1%	29.1%
MRSH Dec	20.7%	23.2%	23.8%	23.1%
AIG Dec	-	-	-	-
HIG Dec	-	-	-	-
SCHW Dec	-	-	-	-
USB Dec	-	-	-	-
APO Dec	-	-	-	-
PNC Dec	-	-	-	-
XYZ Dec	−3.6%	−1.3%	3.7%	7.1%
PYPL Dec	13.9%	16.9%	16.7%	18.3%
Peer median	13.9%	16.9%	16.7%	18.3%

Net margin, FY2022 to FY2025

Net income / revenue.

Company	FY2022	FY2023	FY2024	FY2025
BLK Dec	29.0%	30.8%	31.2%	22.9%
MRSH Dec	14.7%	16.5%	16.6%	15.4%
AIG Dec	34.1%	13.0%	−5.2%	11.6%
HIG Dec	8.1%	10.2%	11.7%	13.5%
SCHW Dec	34.6%	26.9%	30.3%	37.0%
USB Dec	24.0%	19.3%	22.9%	26.4%
APO Dec	−17.9%	15.5%	17.5%	10.9%
PNC Dec	27.0%	23.9%	25.5%	28.5%
XYZ Dec	−3.1%	0.0%	12.0%	5.4%
PYPL Dec	8.8%	14.3%	13.0%	15.8%
Peer median	14.7%	15.5%	16.6%	15.4%

Free cash flow, FY2022 to FY2025

Cash from operations minus capital spending.

Company	FY2022	FY2023	FY2024	FY2025
BLK Dec	$4.4B	$3.8B	$4.7B	$3.6B
MRSH Dec	$3.0B	$3.8B	$4.0B	$5.0B
AIG Dec	$3.9B	$6.0B	-	-
HIG Dec	$3.8B	$4.0B	$5.8B	$5.8B
SCHW Dec	$1.1B	$18.9B	$2.0B	$8.8B
USB Dec	-	-	-	-
APO Dec	-	-	-	-
PNC Dec	-	-	-	-
XYZ Dec	$5.1M	−$50.2M	$1.6B	$2.4B
PYPL Dec	$5.1B	$4.2B	$6.8B	$5.6B
Peer median	$3.4B	$4.1B	$4.0B	$5.6B

FCF margin, FY2022 to FY2025

Free cash flow / revenue.

Company	FY2022	FY2023	FY2024	FY2025
BLK Dec	24.7%	21.4%	23.0%	14.7%
MRSH Dec	14.5%	16.9%	16.3%	18.5%
AIG Dec	13.1%	21.5%	-	-
HIG Dec	17.1%	16.3%	21.7%	20.3%
SCHW Dec	5.2%	100.3%	10.5%	36.6%
USB Dec	-	-	-	-
APO Dec	-	-	-	-
PNC Dec	-	-	-	-
XYZ Dec	0.0%	−0.2%	6.4%	10.0%
PYPL Dec	18.6%	14.2%	21.3%	16.8%
Peer median	13.8%	16.6%	16.3%	18.5%

Return on equity, FY2022 to FY2025

Net income / shareholders' equity at the year end.

Company	FY2022	FY2023	FY2024	FY2025
BLK Dec	13.7%	14.0%	13.4%	9.9%
MRSH Dec	28.4%	30.4%	30.0%	27.2%
AIG Dec	25.0%	8.0%	−3.3%	7.5%
HIG Dec	13.3%	16.3%	18.9%	20.2%
SCHW Dec	19.6%	12.4%	12.3%	17.9%
USB Dec	11.5%	9.8%	10.8%	11.6%
APO Dec	−29.5%	35.9%	26.5%	15.0%
PNC Dec	12.5%	10.0%	10.1%	10.9%
XYZ Dec	−3.1%	0.1%	13.6%	5.9%
PYPL Dec	11.9%	20.2%	20.3%	25.8%
Peer median	12.5%	12.4%	13.6%	15.0%

Debt / equity, FY2022 to FY2025

Total debt / shareholders' equity at the year end.

Company	FY2022	FY2023	FY2024	FY2025
BLK Dec	-	0.20	0.26	0.23
MRSH Dec	1.07	1.09	1.47	1.28
AIG Dec	0.70	0.24	0.21	0.22
HIG Dec	0.32	0.28	0.27	0.23
SCHW Dec	0.58	0.64	0.46	0.49
USB Dec	1.40	1.21	1.26	1.20
APO Dec	0.97	0.58	0.61	0.57
PNC Dec	1.28	1.42	1.13	0.94
XYZ Dec	0.24	0.22	0.29	0.33
PYPL Dec	0.51	0.46	0.48	0.57
Peer median	0.70	0.58	0.48	0.57

EPS (diluted), FY2022 to FY2025

Diluted earnings per share, on today's share count after splits.

Company	FY2022	FY2023	FY2024	FY2025
BLK Dec	$33.97	$36.51	$42.01	$35.31
MRSH Dec	$6.04	$7.53	$8.18	$8.43
AIG Dec	$12.94	$4.98	−$2.17	$5.43
HIG Dec	$5.46	$7.97	$10.35	$13.32
SCHW Dec	$3.50	$2.54	$2.99	$4.65
USB Dec	$3.69	$3.27	$3.79	$4.62
APO Dec	−$3.43	$8.28	$7.33	$5.54
PNC Dec	$13.85	$12.79	$13.74	$16.59
XYZ Dec	−$0.93	$0.02	$4.56	$2.10
PYPL Dec	$2.09	$3.84	$3.99	$5.41
Peer median	$3.69	$4.98	$4.56	$5.43

Fiscal years are lined up as each company's 10-K names them; the month next to a ticker is when its year ends. Hover a number for the XBRL line items and the filing; click it to open the filing on sec.gov. "n/m" means not meaningful: equity below zero, or a base so close to zero that the ratio says nothing. The peer median leaves out BLK and needs at least three peers with the number. P/E, P/S and P/FCF at each year end appear here once the site has daily prices. What the same companies write about AI, tariffs and more →

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