BLK
BlackRock, Inc.
BLK offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
PFG
Principal Financial Group, Inc.
PFG has the edge over BLK overall, supported by stronger modeled upside and stronger valuation.
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.
PFG Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
PFG's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like PFG.
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 PFG in the historical PE scenario, which offers more potential upside but is not a forecast.
PFG PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.2x | $64.91 | -43% |
| Forward | 11x | $113 | — |
| Fair | 12x | $105 | -6.8% |
| Current | 13x | $113 | — |
| Expensive | 16x | $143 | +26% |
Historical ranges are pointers, not guarantees.
PFG's PE is in its fair range at 13x. If earnings grow as analysts expect, today's price would be 11x next year's earnings.
BLK Forward outlook
There aren't enough analyst estimates for BLK to show an outlook.
PFG Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for PFG, 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.
PFG Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.84 | +9.6% |
| Q3 2026 | $8.98 | +31% |
| Q2 2026 | $7.02 | +41% |
| Q1 2026 | $6.97 | +49% |
| Q4 2025 | $5.25 | -21% |
| Q3 2025 | $6.87 | +$7.66 |
| Q2 2025 | $4.97 | -5.5% |
| Q1 2025 | $4.67 | -13% |
| Q4 2024 | $6.68 | +162% |
PFG 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 PFG 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.
PFG Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.6B | +25% |
| Q2 2026 | $3.9B | +6.4% |
| Q1 2026 | $3.5B | -4.5% |
| Q4 2025 | $4.6B | -3.7% |
| Q3 2025 | $3.7B | +22% |
| Q2 2025 | $3.7B | -15% |
| Q1 2025 | $3.7B | -8.8% |
| Q4 2024 | $4.8B | +77% |
PFG's revenue is recovering but still below its 2022 peak: $4.6B last quarter, up 25% 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'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.
PFG Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.5B | +52% |
| Q2 2026 | $2.1B | +156% |
| Q1 2026 | $187.1M | -81% |
| Q4 2025 | $1.7B | +20% |
| Q3 2025 | $1B | -11% |
| Q2 2025 | $811.9M | -43% |
| Q1 2025 | $977.3M | +67% |
| Q4 2024 | $1.5B | +55% |
PFG's free cash flow was $5.5B over the past year, up 30% from the year before. Free cash flow isn't a meaningful measure for financial services companies like PFG.
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 |
PFG Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.8% | -1.8M shares |
| 1 year | -3.7% | -8.3M shares |
| 3 years | -11% | -27.4M shares |
| 5 years | -20% | -55M shares |
| Available history | -23% | -64.1M shares |
PFG has the edge over BLK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $251M |
| Q2 2026 | $257.7M |
| Q1 2026 | $235M |
| Q4 2025 | $275.4M |
| Q3 2025 | $227.7M |
| Q2 2025 | $159.3M |
| Q1 2025 | $240.3M |
| Q4 2024 | $306.1M |
PFG spent $1B buying back its own shares over the past year, up 9.2% 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.
PFG Net Leverage
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).
PFG Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 57.4 | Neutral |
| Stochastic | 38.2 | Neutral |
PFG's weekly RSI is 57 (neutral) and its Stochastic is 38 (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.
PFG PE vs Financial Services Sector
| Metric | PFG | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 13x | 3.4% below |
| PE % | 65 | 63 | 2 pts above |
PFG 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.
PFG Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $110.9 | 1.9% above |
| 20 week MA | $112.4 | 0.6% above |
| 50 week MA | $102.1 | 11% above |
| 100 week MA | $91.1 | 24% above |
| 200 week MA | $85.1 | 33% above |
PFG is in an uptrend: it's above all five of its weekly moving averages, and 33% 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.
PFG Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $54.8 | $48.5 | -11% |
| 2021 | $48.5 | $71.6 | +48% |
| 2022 | $71.6 | $85.6 | +20% |
| 2023 | $85.6 | $78.7 | -8.1% |
| 2024 | $78.7 | $77.7 | -1.2% |
| 2025 | $77.7 | $89.4 | +15% |
| 2026 YTD | $89.4 | $113.0 | +26% |
PFG has the edge over BLK on returns for 2026, with the stronger performance.