BLK
BlackRock, Inc.
BLK has the edge over PFSI overall, supported by stronger modeled upside and lower modeled downside.
PFSI
PennyMac Financial Services, Inc.
PFSI trails on the overall score without a compensating advantage in the available component scores.
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.
PFSI Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Stable | |
| N/A | |
| N/A |
PFSI's profitability is currently stable, but its revenue is under pressure. Free cash flow and net leverage aren't meaningful measures for financial services companies like PFSI.
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 PFSI in the historical PE scenario, which offers more potential upside but is not a forecast.
PFSI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 3.6x | $16.03 | -74% |
| Fair | 8.9x | $39.77 | -35% |
| Forward | 9.3x | $60.73 | — |
| Current | 14x | $60.73 | — |
| Expensive | 18x | $80.01 | +32% |
Historical ranges are pointers, not guarantees.
PFSI's PE is in its expensive range at 14x. On analysts' estimates for next year's earnings, today's price would be 9.3x, in its fair range.
BLK Forward outlook
There aren't enough analyst estimates for BLK to show an outlook.
PFSI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong decline | |
| Decline | |
| Strongly weakening | |
| Limited | |
| Moderate |
Analysts expect PFSI's earnings and revenue to decline, with profitability weakening.
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.
PFSI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.51 | +46% |
| Q3 2026 | $4.45 | -52% |
| Q2 2026 | $7.28 | +1% |
| Q1 2026 | $9.41 | +44% |
| Q4 2025 | $9.30 | +59% |
| Q3 2025 | $9.28 | +192% |
| Q2 2025 | $7.21 | +98% |
| Q1 2025 | $6.52 | +124% |
| Q4 2024 | $5.84 | +113% |
PFSI 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 PFSI 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 PFSI on profitability, with a higher operating margin.
PFSI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $468.8M | -26% |
| Q2 2026 | $497M | +12% |
| Q1 2026 | $545M | +26% |
| Q4 2025 | $538M | +14% |
| Q3 2025 | $632.9M | +54% |
| Q2 2025 | $444.7M | +9.5% |
| Q1 2025 | $430.9M | +41% |
| Q4 2024 | $470.1M | +30% |
PFSI's revenue fell from its 2020 peak and has held roughly level since: $469M last quarter, down 26% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 9.1% | -28 points |
| Q2 2026 | 6.3% | -11 points |
| Q1 2026 | 19% | -5 points |
| Q4 2025 | 25% | -2.5 points |
| Q3 2025 | 37% | +15 points |
| Q2 2025 | 17% | -16 points |
| Q1 2025 | 24% | +9.8 points |
| Q4 2024 | 28% | +43 points |
PFSI's operating margin was 9.1% last quarter, down 28 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 PFSI on cash generation, producing positive trailing cash flow while its opponent burns cash.
PFSI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $850.3M | +$1.5B |
| Q2 2026 | $2.1B | +$2.3B |
| Q1 2026 | -$1.3B | -226% |
| Q4 2025 | -$1.9B | +$251.6M |
| Q3 2025 | -$699.4M | -$305.6M |
| Q2 2025 | -$132.6M | +$960.7M |
| Q1 2025 | $1.1B | +$2B |
| Q4 2024 | -$2.1B | -600% |
PFSI's free cash flow was −$252M over the past year, against −$1.9B the year before. Free cash flow isn't a meaningful measure for financial services companies like PFSI.
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 |
PFSI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -117K shares |
| 1 year | -1.4% | -745K shares |
| 3 years | +1.1% | +573K shares |
| 5 years | -19% | -12.5M shares |
| Available history | -34% | -27.2M shares |
PFSI has the edge over BLK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $50M |
| Q4 2025 | — |
| Q4 2023 | $84,000 |
| Q3 2023 | — |
| Q2 2023 | $26.2M |
| Q1 2023 | $45.4M |
PFSI spent $50M buying back its own shares over the past year.
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 PFSI on leverage, with a lower net debt burden relative to earnings.
PFSI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 17.2x | High |
| Q2 2026 | 10.9x | High |
| Q1 2026 | 9.9x | High |
| Q4 2025 | 9.8x | High |
| Q3 2025 | 9.3x | High |
| Q2 2025 | 11.8x | High |
| Q1 2025 | 10.8x | High |
| Q4 2024 | 11.0x | High |
PFSI's net debt is about 17 years of its operating earnings (EBITDA), up from 9.3 years a year ago. Net leverage isn't a meaningful measure for financial services companies like PFSI.
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).
PFSI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 30.8 | Neutral |
| Stochastic | 22.4 | Neutral |
PFSI's weekly RSI is 31 (neutral) and its Stochastic is 22 (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.
PFSI PE vs Financial Services Sector
| Metric | PFSI | Sector median | Relative |
|---|---|---|---|
| PE | 14x | 13x | 4.8% above |
| PE % | 67 | 63 | 4 pts above |
PFSI 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 PFSI on trend strength, trading above more of its moving averages.
PFSI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $62.6 | 2.9% below |
| 20 week MA | $71.3 | 15% below |
| 50 week MA | $89.8 | 32% below |
| 100 week MA | $98.3 | 38% below |
| 200 week MA | $90.4 | 33% below |
PFSI is in a downtrend: it's below all five of its weekly moving averages, and 33% 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 PFSI on returns for 2026, with the stronger performance.
PFSI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $33.9 | $65.3 | +92% |
| 2021 | $65.3 | $70.0 | +7.2% |
| 2022 | $70.0 | $56.8 | -19% |
| 2023 | $56.8 | $88.4 | +56% |
| 2024 | $88.4 | $102.1 | +16% |
| 2025 | $102.1 | $133.9 | +31% |
| 2026 YTD | $133.9 | $60.7 | -55% |
PFSI is down 55% so far in 2026, after finishing higher in five of the previous six years.