BLK
BlackRock, Inc.
BLK has slightly lower modeled downside risk, despite its lower overall score.
TW
Tradeweb Markets Inc.
TW has the edge over BLK overall, supported by stronger valuation and stronger modeled upside.
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.
TW Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
TW's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like TW.
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.
TW PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 29x | $132 | — |
| Current | 31x | $132 | — |
| Cheap | 43x | $184 | +40% |
| Fair | 57x | $243 | +85% |
| Expensive | 76x | $325 | +147% |
Historical ranges are pointers, not guarantees.
TW 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.
TW Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for TW, 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% |
BLK earned $43.87 per share over the past year, up 11% from the year before.
TW Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.57 | +7.1% |
| Q3 2026 | $4.27 | +46% |
| Q2 2026 | $4.19 | +62% |
| Q1 2026 | $4.05 | +67% |
| Q4 2025 | $3.78 | +62% |
| Q3 2025 | $2.92 | +40% |
| Q2 2025 | $2.59 | +29% |
| Q1 2025 | $2.43 | +29% |
| Q4 2024 | $2.33 | +36% |
TW has the edge over BLK on earnings, with more consistent year-over-year improvement.
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 edge over TW on sales, with stronger typical year-over-year growth.
| 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.
TW Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $584.5M | +15% |
| Q2 2026 | $558.9M | +9% |
| Q1 2026 | $617.8M | +21% |
| Q4 2025 | $521.2M | +12% |
| Q3 2025 | $508.6M | +13% |
| Q2 2025 | $513M | +27% |
| Q1 2025 | $509.7M | +25% |
| Q4 2024 | $463.3M | +25% |
TW's revenue has grown year over year every quarter since late 2020: $585M last quarter, up 15% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 43% | +2 points |
| Q2 2026 | 44% | +4.9 points |
| Q1 2026 | 47% | +6.5 points |
| Q4 2025 | 42% | +1.7 points |
| Q3 2025 | 41% | +5.9 points |
| Q2 2025 | 39% | -1.2 points |
| Q1 2025 | 40% | -1 points |
| Q4 2024 | 41% | +2.4 points |
TW has the edge over BLK on profitability, with a higher operating margin.
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.
TW Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $338M | +3% |
| Q2 2026 | $385.8M | -4.4% |
| Q1 2026 | $94.2M | +61% |
| Q4 2025 | $336.5M | +31% |
| Q3 2025 | $328.3M | +14% |
| Q2 2025 | $403.7M | +44% |
| Q1 2025 | $58.6M | +87% |
| Q4 2024 | $256.8M | +5.4% |
TW has the edge over BLK on cash flow, with more consistent year-over-year improvement.
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 |
TW Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.9% | -1.9M shares |
| 1 year | -1.9% | -4.1M shares |
| 3 years | -1.2% | -2.6M shares |
| 5 years | +1.3% | +2.7M shares |
| Available history | +35% | +54.4M shares |
TW has the edge over BLK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $206.8M |
| Q2 2026 | $187.2M |
| Q1 2026 | $53.3M |
| Q4 2025 | $103.3M |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $844,000 |
| Q4 2024 | $34.7M |
TW spent $551M buying back its own shares over the past year, more than ten times what it spent the year before.
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.
TW Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.7x | Net Cash |
| Q2 2026 | -1.7x | Net Cash |
| Q1 2026 | -1.7x | Net Cash |
| Q4 2025 | -1.9x | Net Cash |
| Q3 2025 | -1.8x | Net Cash |
| Q2 2025 | -1.6x | Net Cash |
| Q1 2025 | -1.4x | Net Cash |
| Q4 2024 | -1.5x | Net Cash |
TW has the edge over BLK on leverage, with a lower net debt burden relative to earnings.
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).
TW Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 71.8 | Overbought |
| Stochastic | 94.6 | Overbought |
TW's weekly RSI is 72 (overbought) and its Stochastic is 95 (overbought).
BLK PE vs Financial Services Sector
| Metric | BLK | Sector median | Relative |
|---|---|---|---|
| PE | 28x | 13x | 113% above |
| PE % | 97 | 63 | 34 pts above |
BLK has the edge over TW on valuation relative to its sector.
TW PE vs Financial Services Sector
| Metric | TW | Sector median | Relative |
|---|---|---|---|
| PE | 31x | 13x | 137% above |
| PE % | 9 | 63 | 54 pts below |
TW is trading at 31x earnings, a 137% premium to the Financial Services sector's median of 13x, though its earnings don't support one.
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 is in an uptrend: it's above all five of its weekly moving averages, and 33% above its 200-week average.
TW Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $116.6 | 13% above |
| 20 week MA | $108.5 | 21% above |
| 50 week MA | $109.8 | 20% above |
| 100 week MA | $119.4 | 10% above |
| 200 week MA | $107.5 | 22% above |
TW is in an uptrend: it's above all five of its weekly moving averages, and 22% 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.
TW Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $46.8 | $63.4 | +36% |
| 2021 | $63.4 | $98.9 | +56% |
| 2022 | $98.9 | $64.3 | -35% |
| 2023 | $64.3 | $90.9 | +41% |
| 2024 | $90.9 | $134.9 | +48% |
| 2025 | $134.9 | $107.8 | -20% |
| 2026 YTD | $107.8 | $131.6 | +22% |
TW has the edge over BLK on returns for 2026, with the stronger performance.