BlackRock (BLK) Delivers +38% EPS Growth in Q3 with Record AUM and Inflows
Key Takeaways
- BlackRock reported adjusted earnings per share (EPS) of $15.93, up 38% year over year and above the roughly $14.32 consensus estimate.
- Revenue rose 19% to $7.75 billion, exceeding the approximately $7.42 billion Wall Street expected.
- Assets under management (AUM) reached $15.5 trillion, supported by $205 billion of net inflows in the quarter.
- Adjusted operating income climbed 27% to $3.33 billion, lifting the adjusted operating margin to 47.8%.
- Technology services and subscription revenue grew 14% to $588 million, while the company repurchased $550 million of shares.
Putting the Results in Context
As the world’s largest asset manager, BLK’s quarterly performance offers a useful read on investor appetite across both public and private markets. The report comes at a distinctive time, with an AI-led equity rally sustaining flows into stocks even as the Federal Reserve has resumed rate increases and long-dated Treasuries have seen notable selling. For investors, the quarter provides a clearer picture of how the firm’s integrated platform—now fully incorporating the Global Infrastructure Partners, HPS, and Preqin acquisitions—is translating scale and product range into organic growth and margin improvement. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry.
A Closer Look at the Numbers
For the third quarter ended September 30, 2026, BlackRock posted revenue of $7.75 billion, a 19% rise from $6.51 billion in the prior-year period. On a GAAP basis, diluted EPS came in at $10.57. Excluding a noncash adjustment tied to contingent consideration from earlier acquisitions, adjusted diluted EPS reached $15.93, up 38% from $11.55 a year earlier and ahead of consensus.
Total AUM increased to $15.5 trillion from $13.46 trillion, driven by $205 billion of net inflows during the quarter. The firm achieved 11% annualized organic base fee growth. The iShares ETF franchise collected $135 billion, led by index bond ETFs and precision ETFs. Fixed-income products attracted roughly $78 billion in net inflows, private markets added $15 billion, and cash management contributed $31 billion. Technology services and subscription revenue rose 14% to $588 million, reflecting continued momentum in the Aladdin platform and multi-product solutions. Adjusted operating income grew 27% to $3.33 billion, expanding the adjusted operating margin to 47.8% from 44.6% a year ago. The company also repurchased $550 million of shares in the quarter.
How the Market Reacted
Shares of BLK advanced about 5% in premarket trading after the release, showing investor approval of the earnings beat, record flows, and margin expansion. Sentiment drew support from broad strength across ETFs, active strategies, private markets, and cash, which helped counter ongoing outflows in lower-fee institutional index equities. The positive response occurred against a more measured macro environment, where renewed Federal Reserve tightening and higher Treasury yields have prompted questions about the equity rally’s staying power into year-end.
What to Watch Going Forward
BlackRock heads into its typically strongest fourth quarter with solid momentum. Management indicated plans to repurchase at least $550 million of shares in the quarter ahead, in line with previous guidance, while continuing to prioritize business investment.
Investors will likely focus on a few areas. One is whether organic base fee growth can hold in double digits, especially as higher-fee categories such as active and precision ETFs shape the revenue mix. Another is the path of technology services and subscription revenue, where the Aladdin platform and multi-product solutions play key roles. Private markets also warrant attention, given the firm’s AI Infrastructure Partnership and signs of easing redemption pressure in private credit, including at its HPS Corporate Lending Fund.
The interest-rate backdrop remains a key variable. Continued Federal Reserve tightening could add pressure to long-dated bonds and test fixed-income flows, even as equities and alternatives have provided an offset so far. Cost discipline and operating leverage will stay in view, as performance fees and investment-related income tend to be less predictable than recurring base and subscription revenue.
Exploring Tickeron’s AI Tools
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Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
BLK's RSI Oscillator ascends from oversold territory
The RSI Oscillator for BLK moved out of oversold territory on September 17, 2026. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 32 similar instances when the indicator left oversold territory. In 24 of the 32 cases the stock moved higher. This puts the odds of a move higher at 75%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on October 14, 2026. You may want to consider a long position or call options on BLK as a result. In 52 of 75 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 69%.
The Moving Average Convergence Divergence (MACD) for BLK just turned positive on September 25, 2026. Looking at past instances where BLK's MACD turned positive, the stock continued to rise in 28 of 47 cases over the following month. The odds of a continued upward trend are 60%.
Following a +1.74% 3-day Advance, the price is estimated to grow further. Considering data from situations where BLK advanced for three days, in 197 of 341 cases, the price rose further within the following month. The odds of a continued upward trend are 58%.
BLK may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In 34 of 64 cases where BLK's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are 53%.
BLK moved below its 50-day moving average on September 09, 2026 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for BLK crossed bearishly below the 50-day moving average on September 15, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In 5 of 14 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 36%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BLK declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 56%.
The Aroon Indicator for BLK entered a downward trend on September 25, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron PE Growth Rating for this company is 48 (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is 54 (best 1 - 100 worst), indicating steady price growth. BLK’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 56 (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 82, placing this stock slightly better than average.
The Tickeron SMR rating for this company is 63 (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of 71 (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.879) is normal, around the industry mean (3.263). P/E Ratio (25.671) is within average values for comparable stocks, (27.022). Projected Growth (PEG Ratio) (0.898) is also within normal values, averaging (1.319). Dividend Yield (0.021) settles around the average of (0.081) among similar stocks. P/S Ratio (6.270) is also within normal values, averaging (15.860).
The Tickeron Seasonality Score of 85 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
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