BLK
BlackRock, Inc.
BLK offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
GLAD
Gladstone Capital Corporation
GLAD 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.
GLAD Fundamentals
| Metric | Status |
|---|---|
| Weak | |
| Strong | |
| N/A | |
| N/A |
GLAD's profitability is currently strong, but its revenue is weak. Free cash flow and net leverage aren't meaningful measures for financial services companies like GLAD.
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.
GLAD PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6.2x | $16.39 | -15% |
| Current | 7.3x | $19.39 | — |
| Fair | 9.4x | $24.91 | +28% |
| Forward | 9.8x | $19.39 | — |
| Expensive | 15x | $39.91 | +106% |
Historical ranges are pointers, not guarantees.
GLAD has the edge over BLK in the historical PE scenario, which offers more potential upside but is not a forecast.
BLK Forward outlook
There aren't enough analyst estimates for BLK to show an outlook.
GLAD Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Stable | |
| Growth | |
| Strongly weakening | |
| Limited | |
| High |
Analysts expect GLAD's revenue to grow, but its profitability to weaken.
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.
GLAD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.98 | -25% |
| Q2 2026 | $2.65 | +13% |
| Q1 2026 | $2.42 | -6.6% |
| Q4 2025 | $2.29 | -12% |
| Q3 2025 | $2.55 | -3% |
| Q2 2025 | $2.35 | +8.3% |
| Q1 2025 | $2.59 | +17% |
| Q4 2024 | $2.59 | +16% |
| Q3 2024 | $2.63 | +20% |
GLAD 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 stronger quarterly revenue trend. Revenue is up 19% for BLK versus down 75% for GLAD.
| 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.
GLAD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2022 | $9M | -75% |
| Q1 2022 | $12.4M | -49% |
| Q4 2021 | $14.5M | -6.7% |
| Q3 2021 | $36.4M | +172% |
| Q2 2021 | $21.3M | +22% |
| Q4 2020 | $15.5M | +386% |
| Q3 2020 | $13.4M | +58% |
GLAD's revenue has slid since its 2021 peak: $9M last quarter, down 75% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2022 | 57% | -33 points |
| Q1 2022 | 67% | -21 points |
| Q4 2021 | 83% | +4.3 points |
| Q3 2021 | 90% | +13 points |
| Q2 2021 | 84% | -1.5 points |
| Q1 2021 | 88% | N/A |
| Q4 2020 | 79% | +57 points |
| Q3 2020 | 77% | +13 points |
GLAD's operating margin was 57% last quarter, down 27 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 has the edge over GLAD on cash generation, producing positive trailing cash flow while its opponent burns cash.
GLAD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$36.9M | -281% |
| Q1 2026 | $16.6M | -65% |
| Q4 2025 | -$33.8M | -241% |
| Q3 2025 | -$96.6M | -$90.9M |
| Q2 2025 | $20.4M | -62% |
| Q1 2025 | $46.8M | +$65.9M |
| Q4 2024 | $24M | +$50.2M |
| Q3 2024 | -$5.7M | -125% |
GLAD's free cash flow was −$151M over the past year, against $85M the year before. Free cash flow isn't a meaningful measure for financial services companies like GLAD.
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 GLAD 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 |
GLAD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | +27% | +6M shares |
| 3 years | +51% | +9.5M shares |
| 5 years | +68% | +11.5M shares |
| Available history | +86% | +13.1M shares |
GLAD has 28M diluted shares, up 27% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2022 | — |
| Q2 2022 | — |
| Q1 2022 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | — |
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.
GLAD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2022 | 7.2x | High |
| Q2 2022 | 4.8x | High |
| Q1 2022 | 2.6x | Moderate |
| Q4 2021 | 2.7x | Moderate |
| Q3 2021 | 2.8x | Moderate |
| Q2 2021 | 3.4x | Elevated |
| Q1 2021 | 3.8x | Elevated |
| Q4 2020 | 20.5x | High |
GLAD's net debt is about 7.2 years of its operating earnings (EBITDA), up from 2.8 years a year ago. Net leverage isn't a meaningful measure for financial services companies like GLAD.
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).
GLAD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.9 | Neutral |
| Stochastic | 49.1 | Neutral |
GLAD's weekly RSI is 51 (neutral) and its Stochastic is 49 (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.
GLAD PE vs Financial Services Sector
| Metric | GLAD | Sector median | Relative |
|---|---|---|---|
| PE | 7.3x | 13x | 44% below |
| PE % | 27 | 63 | 36 pts below |
GLAD 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 GLAD on trend strength, trading above more of its moving averages.
GLAD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $19.0 | 1.8% above |
| 20 week MA | $19.4 | 0.2% above |
| 50 week MA | $19.3 | 0.5% above |
| 100 week MA | $22.5 | 14% below |
| 200 week MA | $22.0 | 12% below |
GLAD has bounced recently, but its long-term trend is still down: it's above its 8-, 20- and 50-week averages, but 12% below 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 GLAD on returns for 2026, with the stronger performance.
GLAD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $20.2 | $17.4 | -14% |
| 2021 | $17.4 | $22.3 | +28% |
| 2022 | $22.3 | $19.2 | -14% |
| 2023 | $19.2 | $21.4 | +12% |
| 2024 | $21.4 | $28.1 | +31% |
| 2025 | $28.1 | $20.5 | -27% |
| 2026 YTD | $20.5 | $19.4 | -5.5% |
GLAD has finished lower in three of the last six years. It's down 5.5% so far in 2026.