BLK
BlackRock, Inc.
BLK has the edge over SCM overall, supported by stronger fundamentals and lower modeled downside.
SCM
Stellus Capital Investment Corporation
SCM 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.
SCM Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Healthy | |
| N/A | |
| N/A |
SCM's profitability is currently healthy, but its revenue is under pressure. Free cash flow and net leverage aren't meaningful measures for financial services companies like SCM.
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 SCM in the historical PE scenario, which offers more potential upside but is not a forecast.
SCM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 6.3x | $6.67 | — |
| Cheap | 7x | $4.07 | -39% |
| Fair | 10x | $5.85 | -12% |
| Current | 12x | $6.67 | — |
| Expensive | 20x | $11.34 | +70% |
Historical ranges are pointers, not guarantees.
SCM's PE is in its fair range at 12x. On analysts' estimates for next year's earnings, today's price would be 6.3x, in its cheap range.
BLK Forward outlook
There aren't enough analyst estimates for BLK to show an outlook.
SCM Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Stable | |
| Decline | |
| Improving | |
| Limited | |
| High |
Analysts expect SCM's profitability to improve, but its revenue to decline.
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 edge over SCM on earnings, with more consistent year-over-year improvement.
SCM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.05 | +82% |
| Q3 2026 | $0.58 | -46% |
| Q2 2026 | $1.03 | -28% |
| Q1 2026 | $0.83 | -42% |
| Q4 2025 | $0.95 | -47% |
| Q3 2025 | $1.08 | -45% |
| Q2 2025 | $1.44 | +13% |
| Q1 2025 | $1.43 | +30% |
| Q4 2024 | $1.79 | +124% |
SCM's earnings per share have fallen from their peak: $0.58 over the past year, against $3.54 in early 2021.
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 25% for SCM.
| 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.
SCM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2022 | $8.7M | -25% |
| Q1 2022 | $11.8M | +2.2% |
| Q4 2021 | $17.9M | -17% |
| Q3 2021 | $20.4M | +56% |
| Q2 2021 | $11.6M | -74% |
| Q4 2020 | $21.6M | +199% |
SCM's revenue fell from its 2020 peak and has held roughly level since: $9M last quarter, down 25% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2022 | 22% | -27 points |
| Q1 2022 | 47% | +0.5 points |
| Q4 2021 | 66% | -12 points |
| Q3 2021 | 70% | +8.9 points |
| Q2 2021 | 49% | -40 points |
| Q1 2021 | 46% | N/A |
| Q4 2020 | 78% | +50 points |
| Q3 2020 | 61% | N/A |
SCM's operating margin was 22% last quarter, down 27 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.
SCM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $957.1K | +$21.2M |
| Q2 2026 | $33.4M | +41% |
| Q1 2026 | $22.8M | +$59.7M |
| Q4 2025 | $9M | +$40.8M |
| Q3 2025 | -$20.2M | -272% |
| Q2 2025 | $23.7M | +$36.8M |
| Q1 2025 | -$36.9M | -928% |
| Q4 2024 | -$31.8M | -226% |
SCM's free cash flow was $66M over the past year, against −$65M the year before. Free cash flow isn't a meaningful measure for financial services companies like SCM.
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 SCM 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 |
SCM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.4% | -403K shares |
| 1 year | -0.1% | -14.8K shares |
| 3 years | +25% | +5.6M shares |
| 5 years | +46% | +9M shares |
| Available history | +47% | +9M shares |
SCM has 28M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $4.1M |
| Q2 2022 | — |
| Q1 2022 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | $2.00 |
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.
SCM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2022 | 16.8x | High |
| Q1 2022 | 14.5x | High |
| Q4 2021 | 12.8x | High |
| Q3 2021 | 11.7x | High |
| Q2 2021 | 13.9x | High |
| Q1 2021 | 6.2x | High |
| Q4 2020 | 17.7x | High |
| Q3 2020 | 54.9x | High |
SCM's net debt is about 17 years of its operating earnings (EBITDA), up from 14 years a year ago. Net leverage isn't a meaningful measure for financial services companies like SCM.
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).
SCM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 33.6 | Neutral |
| Stochastic | 18.1 | Oversold |
SCM's weekly RSI is 34 (neutral) and its Stochastic is 18 (oversold).
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.
SCM PE vs Financial Services Sector
| Metric | SCM | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 13x | 12% below |
| PE % | 60 | 63 | 3 pts below |
SCM 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 SCM on trend strength, trading above more of its moving averages.
SCM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $7.11 | 6.2% below |
| 20 week MA | $7.76 | 14% below |
| 50 week MA | $9.41 | 29% below |
| 100 week MA | $11.5 | 42% below |
| 200 week MA | $12.7 | 47% below |
SCM is in a downtrend: it's below all five of its weekly moving averages, and 47% 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 SCM on returns for 2026, with the stronger performance.
SCM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $14.5 | $10.7 | -26% |
| 2021 | $10.7 | $13.0 | +21% |
| 2022 | $13.0 | $13.0 | +0.5% |
| 2023 | $13.0 | $12.9 | -1.4% |
| 2024 | $12.9 | $13.8 | +7% |
| 2025 | $13.8 | $12.6 | -8.6% |
| 2026 YTD | $12.6 | $6.67 | -47% |
SCM has finished lower in three of the last six years. It's down 47% so far in 2026.