BLK
BlackRock, Inc.
BLK has a slight edge over HLI overall, supported by stronger fundamentals.
HLI
Houlihan Lokey, Inc.
HLI has slightly lower modeled downside risk, despite its lower 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.
HLI Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| N/A | |
| N/A |
HLI's profitability is currently healthy, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like HLI.
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.
HLI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 17x | $101 | -29% |
| Forward | 18x | $143 | — |
| Fair | 22x | $134 | -6.7% |
| Current | 24x | $143 | — |
| Expensive | 32x | $193 | +34% |
Historical ranges are pointers, not guarantees.
HLI 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.
HLI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for HLI, 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 earned $43.87 per share over the past year, up 11% from the year before.
HLI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $8.11 | +36% |
| Q3 2026 | $5.96 | -3.9% |
| Q2 2026 | $5.95 | +0.2% |
| Q1 2026 | $6.22 | +6.9% |
| Q4 2025 | $6.51 | +24% |
| Q3 2025 | $6.20 | +27% |
| Q2 2025 | $5.94 | +32% |
| Q1 2025 | $5.82 | +42% |
| Q4 2024 | $5.24 | +35% |
HLI 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 HLI 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 HLI on profitability, with a higher operating margin.
HLI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $692M | +4.9% |
| Q2 2026 | $511M | -16% |
| Q1 2026 | $635.6M | -4.6% |
| Q4 2025 | $717.1M | +13% |
| Q3 2025 | $659.5M | +15% |
| Q2 2025 | $605.3M | +18% |
| Q1 2025 | $666.4M | +28% |
| Q4 2024 | $634.4M | +24% |
HLI's revenue fell from its 2021 peak and has held roughly level since: $692M last quarter, up 4.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 22% | -0.7 points |
| Q2 2026 | 15% | +0.4 points |
| Q1 2026 | 20% | -1.2 points |
| Q4 2025 | 22% | +1 points |
| Q3 2025 | 23% | +0.2 points |
| Q2 2025 | 15% | -3.8 points |
| Q1 2025 | 21% | +1.2 points |
| Q4 2024 | 21% | +2.6 points |
HLI's operating margin was 22% last quarter, down 0.7 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 has the edge over HLI on cash flow, with more consistent year-over-year improvement.
HLI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $240M | -26% |
| Q2 2026 | -$342M | -$197.2M |
| Q1 2026 | $286.8M | -17% |
| Q4 2025 | $217M | -17% |
| Q3 2025 | $322.8M | +16% |
| Q2 2025 | -$144.8M | -$69.4M |
| Q1 2025 | $343.9M | +61% |
| Q3 2024 | $278.7M | +148% |
HLI's free cash flow was $402M over the past year, down 49% from the year before. Free cash flow isn't a meaningful measure for financial services companies like HLI.
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 |
HLI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.9% | -600K shares |
| 1 year | -2.3% | -1.6M shares |
| 3 years | -1.3% | -867K shares |
| 5 years | -2.3% | -1.6M shares |
| Available history | +2.1% | +1.4M shares |
HLI has the edge over BLK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $50M |
| Q2 2026 | $50M |
| Q1 2026 | $50M |
| Q4 2025 | $87.9M |
| Q3 2025 | $29.7M |
| Q2 2025 | $7.8M |
| Q1 2025 | $52.2M |
| Q4 2024 | $86,000 |
HLI spent $238M buying back its own shares over the past year, up 165% 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 more cash than debt. Net leverage isn't a meaningful measure for financial services companies like BLK.
HLI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.5x | Net Cash |
| Q2 2026 | -1.4x | Net Cash |
| Q1 2026 | -2.1x | Net Cash |
| Q4 2025 | -1.8x | Net Cash |
| Q3 2025 | -1.6x | Net Cash |
| Q2 2025 | -1.5x | Net Cash |
| Q1 2025 | -1.8x | Net Cash |
| Q4 2024 | -1.6x | Net Cash |
HLI has the edge over BLK on leverage, with a lower net debt burden relative to earnings.
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).
HLI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 54.3 | Neutral |
| Stochastic | 68.0 | Neutral |
HLI's weekly RSI is 54 (neutral) and its Stochastic is 68 (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.
HLI PE vs Financial Services Sector
| Metric | HLI | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 13x | 85% above |
| PE % | 57 | 63 | 6 pts below |
HLI 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 HLI on trend strength, trading above more of its moving averages.
HLI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $134.2 | 6.9% above |
| 20 week MA | $134.0 | 7.1% above |
| 50 week MA | $149.1 | 3.8% below |
| 100 week MA | $164.4 | 13% below |
| 200 week MA | $143.2 | 0.2% above |
HLI's trend is mixed: it's above three of its five weekly moving averages, and 0.2% 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 HLI on returns for 2026, with the stronger performance.
HLI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $48.9 | $67.2 | +37% |
| 2021 | $67.2 | $103.6 | +54% |
| 2022 | $103.6 | $89.2 | -14% |
| 2023 | $89.2 | $119.9 | +35% |
| 2024 | $119.9 | $174.3 | +45% |
| 2025 | $174.3 | $178.5 | +2.4% |
| 2026 YTD | $178.5 | $143.4 | -20% |
HLI has finished higher in five of the last six years. It's down 20% so far in 2026.