BLK
BlackRock, Inc.
BLK has slightly lower modeled downside risk, despite its lower overall score.
DFIN
Donnelley Financial Solutions, Inc.
DFIN has the edge over BLK overall, supported by stronger valuation and stronger modeled upside.
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.
DFIN Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
DFIN's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like DFIN.
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 has the edge over DFIN in the historical PE scenario, which offers more potential upside but is not a forecast.
DFIN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 10x | $40.61 | -41% |
| Forward | 13x | $68.62 | — |
| Current | 18x | $68.62 | — |
| Fair | 19x | $72.59 | +5.8% |
| Expensive | 32x | $124 | +81% |
Historical ranges are pointers, not guarantees.
DFIN's PE is in its fair range at 18x. If earnings grow as analysts expect, today's price would be 13x next year's earnings, in its cheap range.
BLK Forward outlook
There aren't enough analyst estimates for BLK to show an outlook.
DFIN Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for DFIN, with profitability improving.
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 has the edge over DFIN on earnings, with more consistent year-over-year improvement.
DFIN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.46 | +41% |
| Q3 2026 | $3.87 | +269% |
| Q2 2026 | $1.53 | -46% |
| Q1 2026 | $1.37 | -55% |
| Q4 2025 | $1.15 | -62% |
| Q3 2025 | $1.05 | -67% |
| Q2 2025 | $2.83 | -19% |
| Q1 2025 | $3.02 | -7.4% |
| Q4 2024 | $3.06 | +14% |
DFIN earned $3.87 per share over the past year, about four times what it earned the year before.
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 DFIN 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 has the edge over DFIN on profitability, with a higher operating margin.
DFIN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $185M | +5.5% |
| Q2 2026 | $224.2M | +2.8% |
| Q1 2026 | $205.5M | +2.2% |
| Q4 2025 | $172.5M | +10% |
| Q3 2025 | $175.3M | -2.3% |
| Q2 2025 | $218.1M | -10% |
| Q1 2025 | $201.1M | -1.1% |
| Q4 2024 | $156.3M | -11% |
DFIN's revenue is recovering but still below its 2021 peak: $185M last quarter, up 5.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 18% | +1.5 points |
| Q2 2026 | 25% | +0.8 points |
| Q1 2026 | 24% | +0.8 points |
| Q4 2025 | 8.3% | +2.3 points |
| Q3 2025 | 16% | +5.9 points |
| Q2 2025 | 24% | -2.4 points |
| Q1 2025 | 23% | +0.8 points |
| Q4 2024 | 6% | +0.4 points |
DFIN's operating margin was 18% last quarter, up 1.5 points from the same quarter a year ago.
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.
DFIN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $85.8M | +45% |
| Q2 2026 | $61.2M | +18% |
| Q1 2026 | -$16M | +$35M |
| Q4 2025 | $47.9M | +16% |
| Q3 2025 | $59.2M | -12% |
| Q2 2025 | $51.7M | +40% |
| Q1 2025 | -$51M | -$10.8M |
| Q4 2024 | $41.3M | -26% |
DFIN's free cash flow was $179M over the past year, up 77% from the year before. Free cash flow isn't a meaningful measure for financial services companies like DFIN.
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 165M diluted shares, about the same as a year ago.
| 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 |
DFIN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.2% | -300K shares |
| 1 year | -8.8% | -2.4M shares |
| 3 years | -17% | -5.3M shares |
| 5 years | -28% | -9.7M shares |
| Available history | -27% | -9.3M shares |
DFIN has the edge over BLK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $7M |
| Q2 2026 | $35.3M |
| Q1 2026 | $40.9M |
| Q4 2025 | $61.9M |
| Q3 2025 | $34.4M |
| Q2 2025 | $35.7M |
| Q1 2025 | $53M |
| Q4 2024 | $17.2M |
DFIN spent $145M buying back its own shares over the past year, up 3.4% from the year before.
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 the edge over DFIN on leverage, with a lower net debt burden relative to earnings.
DFIN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.5x | Very low |
| Q2 2026 | 0.9x | Very low |
| Q1 2026 | 1.0x | Healthy |
| Q4 2025 | 0.7x | Very low |
| Q3 2025 | 0.7x | Very low |
| Q2 2025 | 0.8x | Very low |
| Q1 2025 | 0.9x | Very low |
| Q4 2024 | 0.3x | Very low |
DFIN's net debt is less than a year of its operating earnings (EBITDA). Net leverage isn't a meaningful measure for financial services companies like DFIN.
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).
DFIN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 75.3 | Overbought |
| Stochastic | 89.2 | Overbought |
DFIN's weekly RSI is 75 (overbought) and its Stochastic is 89 (overbought).
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.
DFIN PE vs Financial Services Sector
| Metric | DFIN | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 13x | 36% above |
| PE % | 41 | 63 | 22 pts below |
DFIN has the edge over BLK on valuation relative to its sector.
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 is in an uptrend: it's above all five of its weekly moving averages, and 33% above its 200-week average.
DFIN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $56.7 | 21% above |
| 20 week MA | $51.5 | 33% above |
| 50 week MA | $48.3 | 42% above |
| 100 week MA | $51.2 | 34% above |
| 200 week MA | $53.4 | 29% above |
DFIN has climbed back above all five of its weekly moving averages, and it's now 29% above its 200-week average.
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 finished higher in five of the last six years. It's up 12% so far in 2026.
DFIN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.4 | $17.9 | +73% |
| 2021 | $17.9 | $47.1 | +163% |
| 2022 | $47.1 | $37.5 | -20% |
| 2023 | $37.5 | $62.4 | +66% |
| 2024 | $62.4 | $62.5 | +0.2% |
| 2025 | $62.5 | $46.5 | -26% |
| 2026 YTD | $46.5 | $68.6 | +48% |
DFIN has the edge over BLK on returns for 2026, with the stronger performance.