BLK
BlackRock, Inc.
BLK has the edge over PNNT overall, supported by stronger fundamentals and stronger valuation.
PNNT
PennantPark Investment Corporation
PNNT offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
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.
PNNT Fundamentals
| Metric | Status |
|---|---|
| Weak | |
| Healthy | |
| N/A | |
| N/A |
PNNT's profitability is currently healthy, but its revenue is weak. Free cash flow and net leverage aren't meaningful measures for financial services companies like PNNT.
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 PNNT in the historical PE scenario, which offers more potential upside but is not a forecast.
PNNT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 3x | $0.49 | -85% |
| Forward | 5.6x | $3.25 | — |
| Fair | 7.5x | $1.19 | -63% |
| Expensive | 20x | $3.23 | -0.5% |
| Current | 21x | $3.25 | — |
Historical ranges are pointers, not guarantees.
PNNT's PE is in its expensive range at 21x. On analysts' estimates for next year's earnings, today's price would be 5.6x, in its fair range.
BLK Forward outlook
There aren't enough analyst estimates for BLK to show an outlook.
PNNT Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Stable | |
| Stable | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect PNNT's profitability to improve, with its earnings and revenue 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 has the stronger earnings trend. Trailing diluted EPS is up 11% for BLK versus PNNT down 91%.
PNNT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.58 | +260% |
| Q2 2023 | -$1.23 | -337% |
| Q1 2023 | -$1.83 | -243% |
| Q4 2022 | -$1.85 | -203% |
| Q3 2022 | -$0.37 | -115% |
| Q2 2022 | $0.52 | -77% |
| Q1 2022 | $1.28 | -36% |
| Q4 2021 | $1.80 | +240% |
| Q3 2021 | $2.48 | +$2.72 |
PNNT has returned to profit: it earned $0.16 per share over the past year, after losing money 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 stronger quarterly revenue trend. Revenue is up 19% for BLK versus down 185% for PNNT.
| 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.
PNNT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2022 | $12M | -73% |
| Q4 2021 | $40.3M | -48% |
| Q3 2021 | $31.8M | +66% |
| Q2 2021 | $39.9M | +70% |
| Q4 2020 | $77.4M | +162% |
| Q3 2020 | $19.2M | -13% |
PNNT's revenue has slid since its 2020 peak: −$27M last quarter, down 185% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q1 2022 | 28% | -58 points |
| Q4 2021 | 76% | -16 points |
| Q3 2021 | 79% | +28 points |
| Q2 2021 | 80% | +13 points |
| Q1 2021 | 86% | N/A |
| Q4 2020 | 92% | +26 points |
| Q3 2020 | 51% | +12 points |
| Q2 2020 | 68% | N/A |
PNNT's operating margin was 28% last quarter, down 58 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 PNNT on cash flow, with more consistent year-over-year improvement.
PNNT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $50.1M | -2.7% |
| Q1 2026 | $36.4M | -74% |
| Q4 2025 | $134.5M | +618% |
| Q3 2025 | -$107.8M | -$103.1M |
| Q2 2025 | $51.5M | +$68.3M |
| Q1 2025 | $142.4M | +3247% |
| Q4 2024 | $18.7M | +$173.9M |
| Q3 2024 | -$4.7M | -104% |
PNNT's free cash flow was $113M over the past year, down 46% from the year before. Free cash flow isn't a meaningful measure for financial services companies like PNNT.
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 PNNT 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 |
PNNT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | 0% | -- |
| 3 years | +0.1% | +71.6K shares |
| 5 years | -2.6% | -1.7M shares |
| Available history | -2.6% | -1.7M shares |
PNNT has 65M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2022 | $1.2M |
| Q2 2022 | $5M |
| Q1 2022 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | — |
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.
PNNT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2022 | 14.2x | High |
| Q1 2022 | 5.7x | High |
| Q4 2021 | 6.1x | High |
| Q3 2021 | 3.5x | Elevated |
| Q2 2021 | 3.2x | Elevated |
| Q1 2021 | 1.6x | Healthy |
| Q4 2020 | 2.4x | Moderate |
| Q3 2020 | 3.2x | Elevated |
PNNT's net debt is about 14 years of its operating earnings (EBITDA), up from 3.2 years a year ago. Net leverage isn't a meaningful measure for financial services companies like PNNT.
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).
PNNT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 39.3 | Neutral |
| Stochastic | 37.8 | Neutral |
PNNT's weekly RSI is 39 (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.
PNNT PE vs Financial Services Sector
| Metric | PNNT | Sector median | Relative |
|---|---|---|---|
| PE | 21x | 13x | 61% above |
| PE % | 84 | 63 | 21 pts above |
PNNT 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 PNNT on trend strength, trading above more of its moving averages.
PNNT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.16 | 2.8% above |
| 20 week MA | $3.38 | 3.8% below |
| 50 week MA | $4.28 | 24% below |
| 100 week MA | $5.56 | 42% below |
| 200 week MA | $6.05 | 46% below |
PNNT has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 46% 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 PNNT on returns for 2026, with the stronger performance.
PNNT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $6.60 | $4.52 | -32% |
| 2021 | $4.52 | $6.88 | +52% |
| 2022 | $6.88 | $5.65 | -18% |
| 2023 | $5.65 | $6.91 | +22% |
| 2024 | $6.91 | $6.99 | +1.2% |
| 2025 | $6.99 | $5.93 | -15% |
| 2026 YTD | $5.93 | $3.25 | -45% |
PNNT has finished lower in three of the last six years. It's down 45% so far in 2026.