BLK
BlackRock, Inc.
BLK has the edge over FHN overall, supported by stronger fundamentals and stronger modeled upside.
FHN
First Horizon Corporation
FHN's outlook is improving, though it still trails on the overall score.
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.
FHN Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Healthy | |
| N/A | |
| N/A |
FHN's profitability is currently healthy, but its revenue is under pressure. Free cash flow and net leverage aren't meaningful measures for financial services companies like FHN.
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 FHN in the historical PE scenario, which offers more potential upside but is not a forecast.
FHN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.8x | $10.71 | -54% |
| Forward | 10x | $23.41 | — |
| Fair | 12x | $16.07 | -31% |
| Expensive | 15x | $20.09 | -14% |
| Current | 17x | $23.41 | — |
Historical ranges are pointers, not guarantees.
FHN's PE is in its expensive range at 17x. If earnings grow as analysts expect, today's price would be 10x next year's earnings, in its fair range.
BLK Forward outlook
There aren't enough analyst estimates for BLK to show an outlook.
FHN Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Stable | |
| Strongly improving | |
| Moderate | |
| Moderate |
Analysts expect FHN's earnings to grow and its profitability to improve, with its revenue holding steady.
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.
FHN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.25 | +63% |
| Q3 2026 | $1.38 | -16% |
| Q2 2026 | $2.08 | +34% |
| Q1 2026 | $1.99 | +38% |
| Q4 2025 | $1.87 | +38% |
| Q3 2025 | $1.65 | +19% |
| Q2 2025 | $1.55 | +27% |
| Q1 2025 | $1.44 | 0% |
| Q4 2024 | $1.36 | -12% |
FHN has the edge over BLK on earnings, with more consistent year-over-year improvement.
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 FHN 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 FHN on profitability, with a higher operating margin.
FHN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $407M | -54% |
| Q2 2026 | $887M | +6.9% |
| Q1 2026 | $862M | +6.2% |
| Q4 2025 | $888M | +22% |
| Q3 2025 | $889M | +7.5% |
| Q2 2025 | $830M | +1.8% |
| Q1 2025 | $812M | -0.9% |
| Q4 2024 | $728M | -8.9% |
FHN's revenue has slid since its 2020 peak: $407M last quarter, down 54% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -24% | -63 points |
| Q2 2026 | 38% | +1.1 points |
| Q1 2026 | 40% | +4.6 points |
| Q4 2025 | 39% | +9.8 points |
| Q3 2025 | 39% | +4.7 points |
| Q2 2025 | 37% | +5.3 points |
| Q1 2025 | 35% | +4.1 points |
| Q4 2024 | 29% | +6.6 points |
FHN's operating margin was −24% last quarter, down 63 points from the same quarter a year ago, near the bottom of its range since 2019.
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.
FHN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $594M | +$802M |
| Q2 2026 | $566M | +665% |
| Q1 2026 | $270M | -21% |
| Q4 2025 | $389M | +124% |
| Q2 2025 | $74M | +$224M |
| Q1 2025 | $340M | -59% |
| Q2 2024 | -$150M | -149% |
| Q1 2024 | $838M | +$907M |
FHN's free cash flow was $1.8B over the past year, about five times what it generated the year before. Free cash flow isn't a meaningful measure for financial services companies like FHN.
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 |
FHN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.3% | -6.3M shares |
| 1 year | -7.2% | -36.5M shares |
| 3 years | -16% | -87.6M shares |
| 5 years | -14% | -76M shares |
| Available history | +50% | +158M shares |
FHN has the edge over BLK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $4M |
| Q2 2026 | $121M |
| Q1 2026 | $235M |
| Q4 2025 | $335M |
| Q3 2025 | $190M |
| Q2 2025 | $28M |
| Q1 2025 | $365M |
| Q4 2024 | $164M |
FHN spent $695M buying back its own shares over the past year, down 7% 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 FHN on leverage, with a lower net debt burden relative to earnings.
FHN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.9x | Healthy |
| Q2 2026 | 1.4x | Healthy |
| Q1 2026 | 2.3x | Moderate |
| Q4 2025 | 1.7x | Healthy |
| Q4 2022 | 1.2x | Healthy |
| Q3 2022 | 0.2x | Very low |
| Q2 2022 | 0.7x | Very low |
| Q1 2022 | 0.4x | Very low |
FHN's net debt is about 1.9 years of its operating earnings (EBITDA), up from 1.1 years a year ago. Net leverage isn't a meaningful measure for financial services companies like FHN.
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).
FHN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 44.4 | Neutral |
| Stochastic | 23.9 | Neutral |
FHN's weekly RSI is 44 (neutral) and its Stochastic is 24 (neutral).
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.
FHN PE vs Financial Services Sector
| Metric | FHN | Sector median | Relative |
|---|---|---|---|
| PE | 17x | 13x | 30% above |
| PE % | 100 | 63 | 37 pts above |
FHN 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 has the edge over FHN on trend strength, trading above more of its moving averages.
FHN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $23.3 | 0.7% above |
| 20 week MA | $24.4 | 4.2% below |
| 50 week MA | $24.2 | 3.3% below |
| 100 week MA | $22.5 | 4.1% above |
| 200 week MA | $18.9 | 24% above |
FHN's trend is mixed: it's above three of its five weekly moving averages, and 24% 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 the edge over FHN on returns for 2026, with the stronger performance.
FHN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $16.5 | $12.6 | -23% |
| 2021 | $12.6 | $16.0 | +26% |
| 2022 | $16.0 | $24.5 | +53% |
| 2023 | $24.5 | $14.2 | -42% |
| 2024 | $14.2 | $20.2 | +43% |
| 2025 | $20.2 | $24.5 | +21% |
| 2026 YTD | $24.5 | $23.4 | -4.5% |
FHN has finished higher in four of the last six years. It's down 4.5% so far in 2026.