BlackRock, Inc. (BLK) closed fiscal year 2025 with a gross margin of 46.7 % and a net margin of 22.9 %.
BlackRock, Inc. (BLK) closed fiscal year 2025 with a gross margin of 46.7 % and a net margin of 22.9 %. The same year shows an EBITDA margin of 33.7 % and an EBIT margin of 29.1 %. The free cash flow margin was 14.7 %. Against the previous year the gross margin moved −2.7 pp and the net margin −8.3 pp. Across the period the gross margin ranges between 46.7 % in 2025 and 49.4 % in 2024. The series covers 4 fiscal years, from 2022 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Gross margin (%) | 48.59 % | 48.05 % | 49.42 % | 46.70 % |
| EBITDA margin (%) | 38.06 % | 37.53 % | 39.71 % | 33.74 % |
| EBIT margin (%) | 35.72 % | 35.14 % | 37.11 % | 29.09 % |
| Net margin (%) | 28.97 % | 30.81 % | 31.21 % | 22.93 % |
| FCF margin (%) | 24.75 % | 21.40 % | 23.04 % | 14.67 % |
