BlackRock (BLK) FY2024 10-K Annual Report
BlackRock (BLK) 10-K annual report for fiscal year 2024, filed with SEC EDGAR on Feb 25, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
BlackRock FY2024 10-K Analysis
Business Overview
- • Core business model: Global investment management and advisory services provider
- • No new products, services, or segments introduced or emphasized in this year's Business section
- • Continued strong corporate governance framework with Code of Ethics and Audit Committee disclosures referenced
- • Proxy Statement incorporated extensively for compliance, executive compensation, and stock ownership details
- • Filing notably lacks standalone Business section narrative, relying entirely on cross-references to Proxy Statement
Management Discussion & Analysis
- • BlackRock AUM $11.6T at Dec 31, 2024, no YoY revenue or operating margin disclosed
- • No specific segment revenue or profitability details provided in this excerpt
- • No cash flow, buyback, dividend, or capex figures disclosed
- • Forward-looking risks include integration of HPS, Preqin, GIP acquisitions; market volatility; regulatory and geopolitical risks; AI and cybersecurity challenges
Risk Factors
- • Regulatory/legal risk: Potential loss of investment advisory contracts due to fund board terminations or shareholder activism impacting BlackRock’s fee revenue
- • Geopolitical/macro risk: Exposure to geopolitical unrest including Ukraine-Russia conflict and US-China tensions affecting global markets and BlackRock’s AUM
- • Operational/supply risk: Concentration of critical operations in few locations (e.g., San Francisco, New York, London) increasing vulnerability to natural disasters or disruptions
- • Competitive risk: Aladdin platform challenged by competitors offering standalone or internally developed solutions, risking client loss and reduced revenue
- • Financial risk: $305 billion securities lending exposure with indemnification obligations creating material liability risk upon borrower defaults and collateral shortfalls
BlackRock FY2024 Key Financial MetricsXBRL
Revenue
$20.4B
▲ +14.3% YoY
Net Income
$6.4B
▲ +15.8% YoY
Operating Margin
37.1%
▲ +198bp YoY
Net Margin
31.2%
▲ +40bp YoY
ROE
13.4%
▼ -57bp YoY
Total Assets
$138.6B
▲ +12.5% YoY
EPS (Diluted)
$42.01
▲ +15.1% YoY
Operating Cash Flow
$5.0B
▲ +19.0% YoY
Source: XBRL data from BlackRock FY2024 10-K filing on SEC EDGAR. All figures in USD.
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