BLK
BlackRock, Inc.
BLK trails on the overall score without a compensating advantage in the available component scores.
PIPR
Piper Sandler Companies
PIPR 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.
PIPR Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
PIPR's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like PIPR.
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 PIPR in the historical PE scenario, which offers more potential upside but is not a forecast.
PIPR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 12x | $48.99 | -26% |
| Forward | 15x | $66.09 | — |
| Current | 16x | $66.09 | — |
| Fair | 21x | $88.71 | +34% |
| Expensive | 36x | $153 | +132% |
Historical ranges are pointers, not guarantees.
PIPR's PE is in its fair range at 16x. If earnings grow as analysts expect, today's price would be 15x next year's earnings, in its cheap range.
BLK Forward outlook
There aren't enough analyst estimates for BLK to show an outlook.
PIPR Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for PIPR, with profitability holding steady.
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.
PIPR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.52 | +6.4% |
| Q3 2026 | $4.25 | +28% |
| Q2 2026 | $4.32 | +46% |
| Q1 2026 | $3.96 | +38% |
| Q4 2025 | $3.95 | +54% |
| Q3 2025 | $3.32 | +42% |
| Q2 2025 | $2.96 | +55% |
| Q1 2025 | $2.86 | +95% |
| Q4 2024 | $2.56 | +106% |
PIPR 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 PIPR 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 PIPR on profitability, with a higher operating margin.
PIPR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $443M | -7.6% |
| Q2 2026 | $495.5M | +25% |
| Q1 2026 | $474.4M | +33% |
| Q4 2025 | $666.1M | +38% |
| Q3 2025 | $479.3M | +33% |
| Q2 2025 | $396.8M | +17% |
| Q1 2025 | $357.3M | +4.1% |
| Q4 2024 | $484.1M | +2.6% |
PIPR's revenue is growing: $443M last quarter, down 7.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 15% | -7.4 points |
| Q2 2026 | 20% | +7.9 points |
| Q1 2026 | 19% | +10 points |
| Q4 2025 | 28% | +11 points |
| Q3 2025 | 22% | +6.9 points |
| Q2 2025 | 12% | +4 points |
| Q1 2025 | 8.2% | -7 points |
| Q4 2024 | 17% | -1.2 points |
PIPR's operating margin was 15% last quarter, down 7.4 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 PIPR on cash flow, with more consistent year-over-year improvement.
PIPR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $349.9M | +997% |
| Q2 2026 | $36.3M | +13% |
| Q1 2026 | -$291.7M | -$84.5M |
| Q4 2025 | $729.8M | +345% |
| Q3 2025 | $31.9M | -60% |
| Q2 2025 | $32.1M | -88% |
| Q1 2025 | -$207.2M | -$10M |
| Q4 2024 | $163.8M | -61% |
PIPR's free cash flow was $824M over the past year, more than ten times what it generated the year before. Free cash flow isn't a meaningful measure for financial services companies like PIPR.
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 |
PIPR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.8% | -574K shares |
| 1 year | -0.8% | -565K shares |
| 3 years | +2.4% | +1.6M shares |
| 5 years | +3.6% | +2.5M shares |
| Available history | +25% | +14.3M shares |
PIPR has the edge over BLK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $39.4M |
| Q2 2026 | $31M |
| Q1 2026 | $69.9M |
| Q4 2025 | $19.8M |
| Q3 2025 | $3.7M |
| Q2 2025 | $20.9M |
| Q1 2025 | $80.6M |
| Q4 2024 | $6.5M |
PIPR spent $160M buying back its own shares over the past year, up 43% 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.
PIPR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.2x | Net Cash |
| Q2 2026 | -0.6x | Net Cash |
| Q1 2026 | -0.7x | Net Cash |
| Q4 2025 | -2.0x | Net Cash |
| Q3 2025 | -0.3x | Net Cash |
| Q2 2025 | -0.5x | Net Cash |
| Q1 2025 | -0.5x | Net Cash |
| Q4 2024 | -1.9x | Net Cash |
PIPR 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).
PIPR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 37.8 | Neutral |
| Stochastic | 22.5 | Neutral |
PIPR's weekly RSI is 38 (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.
PIPR PE vs Financial Services Sector
| Metric | PIPR | Sector median | Relative |
|---|---|---|---|
| PE | 16x | 13x | 19% above |
| PE % | 34 | 63 | 29 pts below |
PIPR 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 PIPR on trend strength, trading above more of its moving averages.
PIPR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $66.0 | 0.1% above |
| 20 week MA | $71.4 | 7.4% below |
| 50 week MA | $77.9 | 15% below |
| 100 week MA | $75.9 | 13% below |
| 200 week MA | $61.9 | 6.8% above |
PIPR's trend is mixed: it's above two of its five weekly moving averages, and 6.8% 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 PIPR on returns for 2026, with the stronger performance.
PIPR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $19.9 | $25.0 | +26% |
| 2021 | $25.0 | $45.0 | +80% |
| 2022 | $45.0 | $33.5 | -26% |
| 2023 | $33.5 | $43.7 | +31% |
| 2024 | $43.7 | $75.3 | +72% |
| 2025 | $75.3 | $87.5 | +16% |
| 2026 YTD | $87.5 | $66.1 | -24% |
PIPR has finished higher in five of the last six years, two of them by more than 50%. It's down 24% so far in 2026.