BLK
BlackRock, Inc.
BLK's fundamentals are mixed, but it looks expensive: trading at 28x earnings, above its usual 22x.
TONX
TON Strategy Co.
There isn't enough reported data to score TONX 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.
TONX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| N/A | |
| N/A |
TONX's revenue is currently healthy, but its profitability is under pressure. Free cash flow and net leverage aren't meaningful measures for financial services companies like TONX.
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.
TONX PE Valuation
TONX 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.
TONX Forward outlook
There aren't enough analyst estimates for TONX to show an outlook.
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 TONX on earnings quality, reporting a profit while its opponent remains loss making.
TONX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | -$1.91 | +$21.62 |
| Q1 2026 | -$5.01 | +$20.73 |
| Q4 2025 | -$5.96 | +$39.27 |
| Q3 2023 | -$2,144.00 | +$256.00 |
| Q2 2023 | -$2,648.00 | +$232.00 |
| Q1 2023 | -$2,718.00 | +$1,122.00 |
| Q4 2022 | -$3,120.00 | +$1,280.00 |
| Q3 2022 | -$2,400.00 | +$3,760.00 |
TONX lost $1.91 per share over the past year, a smaller loss than 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'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 TONX on profitability, with a higher operating margin.
TONX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $15M | +607% |
| Q1 2026 | $5.3M | +303% |
| Q4 2025 | $5.7M | +694% |
| Q3 2025 | $3.6M | +2720% |
| Q2 2025 | $2.1M | +5638% |
| Q1 2023 | $2.2M | -18% |
| Q4 2022 | $2.2M | -20% |
| Q3 2022 | $2.2M | -25% |
TONX's revenue has grown year over year for five quarters in a row: $15M last quarter, up 607% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 3.2% | +141 points |
| Q1 2026 | -74% | +130 points |
| Q4 2025 | -159% | +354 points |
| Q3 2025 | -602% | +1205 points |
| Q2 2025 | -138% | +6362 points |
| Q1 2025 | -204% | N/A |
| Q4 2024 | -513% | N/A |
| Q3 2024 | -1806% | N/A |
TONX's operating margin was 3.2% last quarter, up 141 points from the same quarter a year ago, near the top 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 TONX on cash generation, producing positive trailing cash flow while its opponent burns cash.
TONX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$5.9M | -$3.7M |
| Q1 2026 | -$4.7M | -$3.6M |
| Q4 2025 | -$8M | -$6M |
| Q3 2025 | -$9.4M | -$7.7M |
| Q2 2025 | -$2.3M | +$807K |
| Q1 2025 | -$1.1M | +$1.1M |
| Q4 2024 | -$2M | +$109K |
| Q3 2024 | -$1.8M | +$195K |
TONX's free cash flow was −$28M over the past year, against −$7M the year before. Free cash flow isn't a meaningful measure for financial services companies like TONX.
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 TONX 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 |
TONX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.8% | +466K shares |
| 1 year | +5654% | +57.7M shares |
| 3 years | +484055% | +58.7M shares |
| 5 years | +2027360% | +58.7M shares |
TONX has 59M diluted shares, up 5654% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | $6.3M |
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.
TONX Net Leverage
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).
TONX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.1 | Neutral |
| Stochastic | 36.8 | Neutral |
TONX's weekly RSI is 55 (neutral) and its Stochastic is 37 (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.
TONX PE vs Financial Services Sector
TONX 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 TONX on trend strength, trading above more of its moving averages.
TONX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.18 | 15% above |
| 20 week MA | $3.14 | 16% above |
| 50 week MA | $2.89 | 26% above |
| 100 week MA | $4.98 | 27% below |
| 200 week MA | $121.8 | 97% below |
TONX has bounced recently, but its long-term trend is still down: it's above its 8-, 20- and 50-week averages, but 97% 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 finished higher in five of the last six years. It's up 12% so far in 2026.
TONX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10,560.0 | $15,680.0 | +48% |
| 2021 | $15,680.0 | $11,280.0 | -28% |
| 2022 | $11,280.0 | $928.0 | -92% |
| 2023 | $928.0 | $34.4 | -96% |
| 2024 | $34.4 | $6.60 | -81% |
| 2025 | $6.60 | $2.19 | -67% |
| 2026 YTD | $2.19 | $3.65 | +67% |
TONX has the edge over BLK on returns for 2026, with the stronger performance.