AX
Axos Financial, Inc.
AX has the edge over BLK overall, supported by stronger valuation and stronger modeled upside.
BLK
BlackRock, Inc.
BLK has slightly lower modeled downside risk, despite its lower overall score.
AX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
AX's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like AX.
BLK Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
BLK's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like BLK.
AX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8x | $70.53 | -23% |
| Forward | 9.1x | $91.29 | — |
| Fair | 10x | $88.40 | -3.2% |
| Current | 10x | $91.29 | — |
| Expensive | 13x | $112 | +23% |
Historical ranges are pointers, not guarantees.
AX has the edge over BLK in the historical PE scenario, which offers more potential upside but is not a forecast.
BLK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 19x | $848 | -30% |
| Fair | 22x | $973 | -20% |
| Expensive | 26x | $1,149 | -5.5% |
| Current | 28x | $1,217 | — |
Historical ranges are pointers, not guarantees.
BLK's PE is in its expensive range at 28x.
AX Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for AX, with profitability improving.
BLK Forward outlook
There aren't enough analyst estimates for BLK to show an outlook.
AX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $10.03 | +14% |
| Q3 2026 | $8.79 | +18% |
| Q2 2026 | $8.48 | +14% |
| Q1 2026 | $8.20 | +12% |
| Q4 2025 | $7.86 | +6.4% |
| Q3 2025 | $7.44 | -9.4% |
| Q2 2025 | $7.43 | -3% |
| Q1 2025 | $7.29 | -0.7% |
| Q4 2024 | $7.39 | +9.5% |
AX has the edge over BLK on earnings, with more consistent year-over-year improvement.
BLK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $43.87 | +11% |
| Q2 2026 | $41.73 | -0.4% |
| Q1 2026 | $39.73 | -4.7% |
| Q4 2025 | $35.31 | -17% |
| Q3 2025 | $39.42 | -2.7% |
| Q2 2025 | $41.89 | +4% |
| Q1 2025 | $41.69 | +5.9% |
| Q4 2024 | $42.53 | +16% |
BLK earned $43.87 per share over the past year, up 11% from the year before.
AX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $395.1M | +22% |
| Q2 2026 | $379.8M | +18% |
| Q1 2026 | $392.2M | +27% |
| Q4 2025 | $385.1M | +25% |
| Q3 2025 | $323.4M | +0.9% |
| Q2 2025 | $321.4M | +10% |
| Q1 2025 | $308.8M | +4.8% |
| Q4 2024 | $307.9M | -13% |
AX's revenue has grown year over year for seven quarters in a row: $395M last quarter, up 22% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 44% | -2 points |
| Q2 2026 | 41% | -7.4 points |
| Q1 2026 | 42% | -5.8 points |
| Q4 2025 | 46% | -3.2 points |
| Q3 2025 | 46% | -3.3 points |
| Q2 2025 | 48% | -1.2 points |
| Q1 2025 | 48% | -4.8 points |
| Q4 2024 | 49% | -13 points |
AX has the edge over BLK on profitability, with a higher operating margin.
BLK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $7.8B | +19% |
| Q2 2026 | $7.1B | +31% |
| Q1 2026 | $6.7B | +27% |
| Q4 2025 | $7B | +23% |
| Q3 2025 | $6.5B | +25% |
| Q2 2025 | $5.4B | +13% |
| Q1 2025 | $5.3B | +12% |
| Q4 2024 | $5.7B | +23% |
BLK has the edge over AX on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 30% | 0 points |
| Q2 2026 | 35% | +2.8 points |
| Q1 2026 | 42% | +9.8 points |
| Q4 2025 | 24% | -13 points |
| Q3 2025 | 30% | -8.6 points |
| Q2 2025 | 32% | -5.5 points |
| Q1 2025 | 32% | -3.6 points |
| Q4 2024 | 37% | +2.3 points |
BLK's operating margin was 30% last quarter, about level with the same quarter a year ago, near the bottom of its range since 2019.
AX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $235.5M | +115% |
| Q2 2026 | $197.7M | +22% |
| Q1 2026 | -$101.2M | -255% |
| Q4 2025 | $85.4M | -45% |
| Q3 2025 | $109.3M | +106% |
| Q2 2025 | $161.6M | +385% |
| Q1 2025 | $65.1M | -39% |
| Q4 2024 | $156.4M | +52% |
AX's free cash flow was $417M over the past year, down 15% from the year before. Free cash flow isn't a meaningful measure for financial services companies like AX.
BLK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.6B | +95% |
| Q2 2026 | $1.1B | -12% |
| Q1 2026 | -$1.1B | +$120M |
| Q4 2025 | $2.1B | -15% |
| Q2 2025 | $1.3B | -6.1% |
| Q1 2025 | -$1.2B | -$734M |
| Q4 2024 | $2.5B | +35% |
| Q2 2024 | $1.4B | +47% |
BLK's free cash flow was $4.8B over the past year, up 22% from the year before. Free cash flow isn't a meaningful measure for financial services companies like BLK.
AX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +99.3K shares |
| 1 year | +0.4% | +243K shares |
| 3 years | -3.7% | -2.2M shares |
| 5 years | -4.4% | -2.6M shares |
| Available history | -7.4% | -4.6M shares |
AX has 57M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $4M |
| Q2 2026 | $22M |
| Q2 2025 | $32.3M |
| Q1 2025 | $25.9M |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | $13.1M |
| Q1 2024 | $595,000 |
BLK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -148K shares |
| 1 year | -0.4% | -677K shares |
| 3 years | +9.3% | +14M shares |
| 5 years | +6.2% | +9.6M shares |
| Available history | +4.4% | +7M shares |
BLK has the edge over AX on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2025 | $396M |
| Q1 2025 | $657M |
| Q4 2024 | $386M |
| Q2 2024 | $519M |
| Q1 2024 | $634M |
| Q4 2023 | $384M |
| Q3 2023 | $396M |
| Q2 2023 | $383M |
AX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.9x | Net Cash |
| Q2 2026 | -1.1x | Net Cash |
| Q1 2026 | 2.3x | Moderate |
| Q4 2025 | 0.2x | Very low |
| Q3 2025 | -1.9x | Net Cash |
| Q2 2025 | -2.5x | Net Cash |
| Q1 2025 | -2.6x | Net Cash |
| Q4 2024 | -3.3x | Net Cash |
AX has the edge over BLK on leverage, with a lower net debt burden relative to earnings.
BLK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.0x | Net Cash |
| Q2 2026 | 0.2x | Very low |
| Q1 2026 | 0.3x | Very low |
| Q4 2025 | 0.2x | Very low |
| Q3 2025 | 0.3x | Very low |
| Q2 2024 | 0.2x | Very low |
| Q1 2024 | 0.3x | Very low |
| Q4 2023 | 0.1x | Very low |
BLK has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like BLK.
AX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.6 | Neutral |
| Stochastic | 35.9 | Neutral |
AX's weekly RSI is 49 (neutral) and its Stochastic is 36 (neutral).
BLK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 64.5 | Neutral |
| Stochastic | 79.0 | Neutral |
BLK's weekly RSI is 64 (neutral) and its Stochastic is 79 (neutral).
AX PE vs Financial Services Sector
| Metric | AX | Sector median | Relative |
|---|---|---|---|
| PE | 10x | 13x | 20% below |
| PE % | 53 | 63 | 10 pts below |
AX has the edge over BLK on valuation relative to its sector.
BLK PE vs Financial Services Sector
| Metric | BLK | Sector median | Relative |
|---|---|---|---|
| PE | 28x | 13x | 113% above |
| PE % | 97 | 63 | 34 pts above |
BLK is trading at 28x earnings, a 113% premium to the Financial Services sector's median of 13x.
AX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $90.0 | 1.4% above |
| 20 week MA | $94.6 | 3.4% below |
| 50 week MA | $91.7 | 0.4% below |
| 100 week MA | $83.4 | 9.4% above |
| 200 week MA | $67.5 | 35% above |
AX's trend is mixed: it's above three of its five weekly moving averages, and 35% above its 200-week average.
BLK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,128.0 | 7.9% above |
| 20 week MA | $1,108.9 | 9.7% above |
| 50 week MA | $1,071.6 | 14% above |
| 100 week MA | $1,051.1 | 16% above |
| 200 week MA | $914.1 | 33% above |
BLK has the edge over AX on trend strength, trading above more of its moving averages.
AX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $30.4 | $37.7 | +24% |
| 2021 | $37.7 | $55.1 | +46% |
| 2022 | $55.1 | $37.5 | -32% |
| 2023 | $37.5 | $54.6 | +46% |
| 2024 | $54.6 | $71.3 | +31% |
| 2025 | $71.3 | $88.2 | +24% |
| 2026 YTD | $88.2 | $91.3 | +3.5% |
AX has finished higher in five of the last six years. It's up 3.5% so far in 2026.
BLK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $503.0 | $707.2 | +41% |
| 2021 | $707.2 | $913.9 | +29% |
| 2022 | $913.9 | $703.9 | -23% |
| 2023 | $703.9 | $811.8 | +15% |
| 2024 | $811.8 | $1,044.2 | +29% |
| 2025 | $1,044.2 | $1,088.1 | +4.2% |
| 2026 YTD | $1,088.1 | $1,216.6 | +12% |
BLK has the edge over AX on returns for 2026, with the stronger performance.