BLK BlackRock

Q3 2025 10-Q

Filed: Nov 5, 2025Period ending Sep 30, 2025

Financials

Security Brokers, Dealers & Flotation CompaniesSEC EDGAR

BlackRock (BLK) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Nov 5, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.

AI Filing Analysis
Q3 2025 10-Q

Management Discussion & Analysis

• Revenue $6.5B in Q3 2025, up 25% YoY from $5.2B in Q3 2024; nine months revenue $17.2B, up 17% from $14.7B
• GAAP operating margin 30.0% in Q3 2025 vs 38.6% in Q3 2024; as adjusted operating margin 44.6% vs 45.8% YoY

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Risk Factors

• No new or updated risk factors disclosed compared to 2024 10-K
• Continued risk from market volatility impacting asset management fees and client investments

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Quarterly Financial Summary
XBRL

Revenue

$6.5B

▼ -55.8% YoY▲ +20.0% QoQ

Net Income

$1.3B

▼ -71.8% YoY▼ -16.9% QoQ

Operating Margin

30.0%

▼ -730bp YoY▼ -188bp QoQ

Net Margin

20.3%

▼ -1158bp YoY▼ -905bp QoQ

ROE

2.4%

Total Assets

$162.7B

EPS (Diluted)

$8.38

▼ -73.3% YoY▼ -17.8% QoQ

Operating Cash Flow

$1.4B

▼ -39.5% YoY▲ +3.7% QoQ

Source: XBRL data from BlackRock Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.

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