BLK
BlackRock, Inc.
BLK's fundamentals are mixed, but it looks expensive: trading at 28x earnings, above its usual 22x.
RY
Royal Bank of Canada
There isn't enough reported data to score RY yet.
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.
RY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
RY's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like RY.
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.
RY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 12x | $129 | -36% |
| Fair | 13x | $142 | -30% |
| Expensive | 16x | $169 | -17% |
| Current | 19x | $203 | — |
Historical ranges are pointers, not guarantees.
RY 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.
RY Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for RY, 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% |
RY has the stronger earnings trend. Trailing diluted EPS is up 11% for BLK versus RY up 23%.
RY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $10.82 | +23% |
| Q1 2026 | $10.24 | +19% |
| Q4 2025 | $9.89 | +25% |
| Q3 2025 | $9.29 | +18% |
| Q2 2025 | $8.83 | +16% |
| Q1 2025 | $8.63 | +15% |
| Q4 2024 | $7.90 | +7% |
| Q3 2024 | $7.90 | +8.5% |
RY's earnings per share have climbed steadily: $10.82 over the past year, up 23% from the year before, and higher year over year for 10 quarters in a row.
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% |
RY has the stronger quarterly revenue trend. Revenue is up 19% for BLK versus up 117% for RY.
| 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.
RY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $23.9B | +117% |
| Q1 2026 | $12.6B | +7.3% |
| Q4 2025 | $12.1B | -49% |
| Q3 2025 | $11.9B | +16% |
| Q2 2025 | $11B | +11% |
| Q1 2025 | $11.8B | +24% |
| Q4 2024 | $23.8B | +160% |
| Q3 2024 | $10.3B | +1% |
RY's revenue is growing: $23.9B last quarter, up 117% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 21% | -14 points |
| Q1 2026 | 41% | +2.8 points |
| Q4 2025 | 40% | +24 points |
| Q3 2025 | 40% | +3.7 points |
| Q2 2025 | 35% | +0.4 points |
| Q1 2025 | 38% | +6.2 points |
| Q4 2024 | 15% | -16 points |
| Q3 2024 | 37% | +4.7 points |
RY's operating margin was 21% last quarter, down 14 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'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.
RY Free Cash Flow
RY and BLK do not have enough comparable growth data to identify a winner.
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 |
RY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -8.6M shares |
| 1 year | -1.4% | -20.2M shares |
| 3 years | +0.2% | +3.2M shares |
| 5 years | -2.4% | -33.8M shares |
| Available history | -2.8% | -39.7M shares |
RY has the edge over BLK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $3.5B |
| Q4 2024 | $1.5B |
| Q4 2022 | $810.6M |
| Q3 2022 | $1B |
| Q2 2022 | $1B |
| Q1 2022 | $1.2B |
| Q4 2021 | $841.5M |
| Q3 2021 | $1.1B |
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.
RY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 10.6x | High |
| Q1 2026 | -1.2x | Net Cash |
| Q4 2025 | -0.8x | Net Cash |
| Q3 2025 | -0.8x | Net Cash |
| Q2 2025 | -1.4x | Net Cash |
| Q1 2025 | -2.3x | Net Cash |
| Q4 2024 | 28.8x | High |
| Q3 2024 | -1.9x | Net Cash |
RY's net debt is about 11 years of its operating earnings (EBITDA), after holding more cash than debt a year ago. Net leverage isn't a meaningful measure for financial services companies like RY.
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).
RY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.7 | Neutral |
| Stochastic | 45.9 | Neutral |
RY's weekly RSI is 56 (neutral) and its Stochastic is 46 (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.
RY PE vs Financial Services Sector
| Metric | RY | Sector median | Relative |
|---|---|---|---|
| PE | 19x | 13x | 44% above |
| PE % | 97 | 63 | 34 pts above |
RY 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 RY on trend strength, trading above more of its moving averages.
RY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $199.4 | 1.6% above |
| 20 week MA | $205.1 | 1.2% below |
| 50 week MA | $187.0 | 8.4% above |
| 100 week MA | $158.3 | 28% above |
| 200 week MA | $130.1 | 56% above |
RY's trend is mixed: it's above four of its five weekly moving averages, and 56% 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.
RY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $79.1 | $81.9 | +3.5% |
| 2021 | $81.9 | $104.3 | +27% |
| 2022 | $104.3 | $94.4 | -9.5% |
| 2023 | $94.4 | $101.1 | +7.2% |
| 2024 | $101.1 | $120.9 | +20% |
| 2025 | $120.9 | $171.5 | +42% |
| 2026 YTD | $171.5 | $202.6 | +18% |
RY has the edge over BLK on returns for 2026, with the stronger performance.