BLK
BlackRock, Inc.
BLK has slightly lower modeled downside risk, despite its lower overall score.
MBIN
Merchants Bancorp
MBIN has the edge over BLK overall, supported by stronger modeled upside and stronger fundamentals.
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.
MBIN Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
MBIN's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like MBIN.
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.
MBIN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 5.6x | $33.76 | -37% |
| Fair | 6.3x | $38.13 | -29% |
| Expensive | 8.1x | $49.06 | -8.4% |
| Current | 8.8x | $53.56 | — |
| Forward | 9.1x | $53.56 | — |
Historical ranges are pointers, not guarantees.
MBIN 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.
MBIN Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for MBIN, 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 MBIN on earnings, with more consistent year-over-year improvement.
MBIN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.86 | -3.4% |
| Q3 2026 | $6.07 | +40% |
| Q2 2026 | $4.98 | +9.7% |
| Q1 2026 | $4.10 | -24% |
| Q4 2025 | $3.78 | -40% |
| Q3 2025 | $4.34 | -28% |
| Q2 2025 | $4.54 | -31% |
| Q1 2025 | $5.43 | -15% |
| Q4 2024 | $6.30 | +12% |
MBIN earned $6.07 per share over the past year, up 40% from 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 MBIN 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.
MBIN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $224.9M | +31% |
| Q2 2026 | $182.2M | +1.7% |
| Q1 2026 | $175.2M | +20% |
| Q4 2025 | $185.3M | -4.4% |
| Q3 2025 | $171.1M | +14% |
| Q2 2025 | $179.2M | +12% |
| Q1 2025 | $145.9M | -13% |
| Q4 2024 | $193.8M | +22% |
MBIN's revenue is growing: $225M last quarter, up 31% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 59% | +22 points |
| Q2 2026 | 55% | +28 points |
| Q1 2026 | 48% | -4.3 points |
| Q4 2025 | 40% | -26 points |
| Q3 2025 | 38% | -17 points |
| Q2 2025 | 27% | -35 points |
| Q1 2025 | 52% | -16 points |
| Q4 2024 | 66% | +3.4 points |
MBIN has the edge over BLK on profitability, with a higher operating margin.
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 MBIN on cash generation, producing positive trailing cash flow while its opponent burns cash.
MBIN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $616.9M | +2472% |
| Q2 2026 | $210.9M | +$336.5M |
| Q1 2026 | -$598.5M | -524% |
| Q4 2025 | -$401.7M | -$385.4M |
| Q3 2025 | $24M | +$521.2M |
| Q2 2025 | -$125.7M | -374% |
| Q1 2025 | $141.2M | +$527.3M |
| Q4 2024 | -$16.3M | -102% |
MBIN's free cash flow was −$172M over the past year, against $23M the year before. Free cash flow isn't a meaningful measure for financial services companies like MBIN.
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 MBIN 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 |
MBIN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +27K shares |
| 1 year | +0.2% | +82.8K shares |
| 3 years | +6.2% | +2.7M shares |
| 5 years | +6.3% | +2.7M shares |
| Available history | +6.8% | +2.9M shares |
MBIN has 46M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $3M |
| Q4 2022 | — |
| Q3 2022 | $333 |
| Q2 2022 | $3.9M |
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.
MBIN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.0x | Net Cash |
| Q2 2026 | -0.0x | Net Cash |
| Q1 2026 | -0.0x | Net Cash |
| Q4 2025 | -0.0x | Net Cash |
| Q3 2025 | -0.0x | Net Cash |
| Q2 2025 | -0.0x | Net Cash |
| Q1 2025 | -0.0x | Net Cash |
| Q4 2024 | -0.0x | Net Cash |
MBIN has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like MBIN.
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).
MBIN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 61.0 | Neutral |
| Stochastic | 56.3 | Neutral |
MBIN's weekly RSI is 61 (neutral) and its Stochastic is 56 (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.
MBIN PE vs Financial Services Sector
| Metric | MBIN | Sector median | Relative |
|---|---|---|---|
| PE | 8.8x | 13x | 32% below |
| PE % | 86 | 63 | 23 pts above |
MBIN 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.
MBIN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $50.8 | 5.5% above |
| 20 week MA | $51.5 | 3.9% above |
| 50 week MA | $46.2 | 16% above |
| 100 week MA | $40.3 | 33% above |
| 200 week MA | $37.9 | 41% above |
MBIN is in an uptrend: it's above all five of its weekly moving averages, and 41% 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.
MBIN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $13.0 | $18.6 | +43% |
| 2021 | $18.6 | $31.5 | +70% |
| 2022 | $31.5 | $24.5 | -22% |
| 2023 | $24.5 | $42.6 | +74% |
| 2024 | $42.6 | $36.3 | -15% |
| 2025 | $36.3 | $33.7 | -7.2% |
| 2026 YTD | $33.7 | $53.6 | +59% |
MBIN has the edge over BLK on returns for 2026, with the stronger performance.