BlackRock reported strong asset growth in 2025, ending the year with approximately $14 trillion in assets under management following a record $698 billion in net inflows, including $342 billion in the fourth quarter. Fourth-quarter diluted EPS came in at $7.16, or $13.16 on an adjusted basis, while full-year diluted EPS totaled $35.31, or $48.09 as adjusted. Organic base fee growth accelerated to an annualized 12% in the fourth quarter, reflecting broad-based strength across iShares ETFs, systematic active equities, private markets, outsourcing, and cash management. Full-year revenue increased 19%, supported by favorable markets, organic fee growth, contributions from the GIP and HPS transactions, and higher technology and subscription revenues. Although GAAP operating income and EPS declined due to non-cash acquisition-related expenses and a charitable contribution, adjusted operating income rose 18% year over year. BlackRock returned $5 billion to shareholders in 2025, raised its quarterly dividend by 10% to $5.73 per share, and authorized an additional 7 million shares for repurchase. CEO Larry Fink highlighted accelerating momentum, expanding private markets opportunities, and confidence in BlackRock’s long-term growth trajectory entering 2026.

Source: BlackRock, Full Year and Fourth Quarter 2025 Earnings Release