BLK
BlackRock, Inc.
BLK has lower modeled downside risk, despite its lower overall score.
STEP
StepStone Group Inc.
STEP has the edge over BLK overall, supported by stronger valuation and stronger fundamentals.
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.
STEP Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Weak | |
| N/A | |
| N/A |
STEP's revenue is currently healthy, but its profitability is weak. Free cash flow and net leverage aren't meaningful measures for financial services companies like STEP.
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.
STEP PE Valuation
STEP has no meaningful PE right now: it lost money over the past year.
BLK Forward outlook
There aren't enough analyst estimates for BLK to show an outlook.
STEP Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Strong growth | |
| Weakening | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for STEP, but weaker profitability.
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 STEP on earnings quality, reporting a profit while its opponent remains loss making.
STEP Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.83 | — |
| Q3 2026 | -$3.91 | +$4.22 |
| Q2 2026 | -$7.70 | -$4.49 |
| Q1 2026 | -$6.78 | -$4.26 |
| Q4 2025 | -$7.07 | -$5.39 |
| Q3 2025 | -$8.13 | -1433% |
| Q2 2025 | -$3.21 | -517% |
| Q1 2025 | -$2.52 | -377% |
| Q4 2024 | -$1.68 | -285% |
STEP is still losing money, but far less than before: $3.91 per share over the past year, against $8.13 at its worst in late 2025.
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's revenue has grown year over year for 13 quarters in a row: $7.8B last quarter, up 19% from the same quarter a year ago.
| 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 STEP on profitability, with a higher operating margin.
STEP Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $773.1M | +70% |
| Q2 2026 | $378.9M | +4% |
| Q1 2026 | $588.6M | +56% |
| Q4 2025 | $586.5M | +73% |
| Q3 2025 | $454.2M | +67% |
| Q2 2025 | $364.3M | +95% |
| Q1 2025 | $377.7M | +5.9% |
| Q3 2024 | $271.7M | +42% |
STEP's revenue has grown year over year for 11 quarters in a row: $773M last quarter, up 70% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -19% | +140 points |
| Q2 2026 | -54% | -38 points |
| Q1 2026 | -3.5% | -1.9 points |
| Q4 2025 | -38% | +68 points |
| Q3 2025 | -159% | -178 points |
| Q2 2025 | -16% | -42 points |
| Q1 2025 | -1.6% | -26 points |
| Q4 2024 | -106% | N/A |
STEP's operating margin was −19% last quarter, up 140 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 STEP on cash generation, producing positive trailing cash flow while its opponent burns cash.
STEP Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$362.3M | -2377% |
| Q2 2026 | -$458.1M | -1114% |
| Q1 2026 | -$24M | +$45.2M |
| Q4 2025 | $26.7M | -1.1% |
| Q3 2025 | $15.9M | -70% |
| Q2 2025 | $45.2M | -8.9% |
| Q1 2025 | -$69.2M | -1131% |
| Q4 2024 | $27M | +28% |
STEP's free cash flow was −$818M over the past year, against $19M the year before. Free cash flow isn't a meaningful measure for financial services companies like STEP.
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 STEP 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 |
STEP Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +298K shares |
| 1 year | +4.8% | +3.7M shares |
| 3 years | +24% | +16.1M shares |
| 5 years | +79% | +36.4M shares |
| Available history | +181% | +53.1M shares |
STEP has 82M diluted shares, up 4.8% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $2.1M |
| Q2 2026 | $19.2M |
| Q4 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | — |
| Q2 2020 | — |
| Q1 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.
STEP Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2024 | -0.3x | Net Cash |
| Q2 2024 | -0.1x | Net Cash |
| Q1 2024 | -0.1x | Net Cash |
| Q4 2023 | 0.3x | Very low |
| Q3 2023 | -0.2x | Net Cash |
| Q2 2023 | -0.3x | Net Cash |
| Q1 2023 | -2.4x | Net Cash |
| Q4 2022 | 2.1x | Moderate |
STEP has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like STEP.
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).
STEP Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.9 | Neutral |
| Stochastic | 46.3 | Neutral |
STEP's weekly RSI is 51 (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.
STEP PE vs Financial Services Sector
| Metric | STEP | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
STEP has no meaningful PE right now: it lost money over the past year.
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 STEP on trend strength, trading above more of its moving averages.
STEP Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $44.5 | 6.8% above |
| 20 week MA | $45.7 | 4% above |
| 50 week MA | $51.3 | 7.4% below |
| 100 week MA | $55.0 | 14% below |
| 200 week MA | $45.8 | 3.6% above |
STEP's trend is mixed: it's above three of its five weekly moving averages, and 3.6% 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 STEP on returns for 2026, with the stronger performance.
STEP Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $25.0 | $36.9 | +48% |
| 2021 | $36.9 | $41.7 | +13% |
| 2022 | $41.7 | $25.9 | -38% |
| 2023 | $25.9 | $31.8 | +23% |
| 2024 | $31.8 | $59.9 | +88% |
| 2025 | $59.9 | $66.2 | +11% |
| 2026 YTD | $66.2 | $47.5 | -28% |
STEP has finished higher in five of the last six years. It's down 28% so far in 2026.