BLK
BlackRock, Inc.
BLK trails on the overall score without a compensating advantage in the available component scores.
NDAQ
Nasdaq, Inc.
NDAQ 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.
NDAQ Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
NDAQ's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like NDAQ.
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.
NDAQ PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 24x | $87.92 | -19% |
| Forward | 24x | $109 | — |
| Fair | 27x | $100 | -7.9% |
| Current | 30x | $109 | — |
| Expensive | 35x | $128 | +18% |
Historical ranges are pointers, not guarantees.
NDAQ 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.
NDAQ Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for NDAQ, 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.
NDAQ Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.57 | +25% |
| Q3 2026 | $3.66 | +30% |
| Q2 2026 | $3.43 | +31% |
| Q1 2026 | $3.32 | +50% |
| Q4 2025 | $3.09 | +60% |
| Q3 2025 | $2.81 | +71% |
| Q2 2025 | $2.61 | +53% |
| Q1 2025 | $2.21 | +18% |
| Q4 2024 | $1.93 | -7.2% |
NDAQ 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 NDAQ on sales, with stronger typical year-over-year growth.
| 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.
NDAQ Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.4B | +22% |
| Q2 2026 | $2.5B | +21% |
| Q1 2026 | $2.1B | +2.2% |
| Q4 2025 | $2.1B | +4.6% |
| Q3 2025 | $2B | +2.9% |
| Q2 2025 | $2.1B | +17% |
| Q1 2025 | $2.1B | +25% |
| Q4 2024 | $2B | +23% |
NDAQ's revenue has grown year over year for 12 quarters in a row: $2.4B last quarter, up 22% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 31% | +0.7 points |
| Q2 2026 | 28% | +0.9 points |
| Q1 2026 | 31% | +4.6 points |
| Q4 2025 | 30% | +4.1 points |
| Q3 2025 | 30% | +6.4 points |
| Q2 2025 | 27% | +3.6 points |
| Q1 2025 | 26% | +1.7 points |
| Q4 2024 | 25% | +4 points |
NDAQ 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'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.
NDAQ Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $459M | +202% |
| Q2 2026 | $634M | -7.7% |
| Q1 2026 | $629M | +2.4% |
| Q4 2025 | $536M | -17% |
| Q3 2025 | $152M | -19% |
| Q2 2025 | $687M | +68% |
| Q1 2025 | $614M | +25% |
| Q4 2024 | $645M | +72% |
NDAQ's free cash flow was $2.3B over the past year, up 7.6% from the year before. Free cash flow isn't a meaningful measure for financial services companies like NDAQ.
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 |
NDAQ Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.8% | -4.4M shares |
| 1 year | -2.7% | -15.7M shares |
| 3 years | +14% | +69.2M shares |
| 5 years | +10% | +52.8M shares |
| Available history | +12% | +62.4M shares |
NDAQ has the edge over BLK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $323M |
| Q2 2026 | $355M |
| Q1 2026 | $548M |
| Q4 2025 | $286M |
| Q3 2025 | $115M |
| Q2 2025 | $100M |
| Q1 2025 | $115M |
| Q4 2024 | — |
NDAQ spent $1.5B buying back its own shares over the past year, about five times what it spent 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 NDAQ on leverage, with a lower net debt burden relative to earnings.
NDAQ Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.5x | Moderate |
| Q2 2026 | 2.6x | Moderate |
| Q1 2026 | 2.7x | Moderate |
| Q4 2025 | 2.8x | Moderate |
| Q3 2025 | 3.0x | Elevated |
| Q2 2025 | 3.1x | Elevated |
| Q1 2025 | 3.4x | Elevated |
| Q4 2024 | 3.7x | Elevated |
NDAQ's net debt is about 2.5 years of its operating earnings (EBITDA), down from 3.0 years a year ago. Net leverage isn't a meaningful measure for financial services companies like NDAQ.
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).
NDAQ Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.4 | Neutral |
| Stochastic | 87.1 | Overbought |
NDAQ's weekly RSI is 68 (neutral) and its Stochastic is 87 (overbought).
BLK PE vs Financial Services Sector
| Metric | BLK | Sector median | Relative |
|---|---|---|---|
| PE | 28x | 13x | 113% above |
| PE % | 97 | 63 | 34 pts above |
BLK has the edge over NDAQ on valuation relative to its sector.
NDAQ PE vs Financial Services Sector
| Metric | NDAQ | Sector median | Relative |
|---|---|---|---|
| PE | 30x | 13x | 128% above |
| PE % | 69 | 63 | 6 pts above |
NDAQ is trading at 30x earnings, a 128% premium to the Financial Services sector's median of 13x.
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.
NDAQ Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $99.5 | 9.2% above |
| 20 week MA | $95.9 | 13% above |
| 50 week MA | $92.1 | 18% above |
| 100 week MA | $88.2 | 23% above |
| 200 week MA | $73.9 | 47% above |
NDAQ is in an uptrend: it's above all five of its weekly moving averages, and 47% 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 NDAQ on returns for 2026, with the stronger performance.
NDAQ Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $36.0 | $42.9 | +19% |
| 2021 | $42.9 | $68.5 | +60% |
| 2022 | $68.5 | $61.3 | -11% |
| 2023 | $61.3 | $58.1 | -5.1% |
| 2024 | $58.1 | $78.4 | +35% |
| 2025 | $78.4 | $99.4 | +27% |
| 2026 YTD | $99.4 | $108.7 | +9.4% |
NDAQ has finished higher in four of the last six years. It's up 9.4% so far in 2026.