BLK Research Update — August 28, 2026 (Updated)
Updated Thesis
BlackRock is the world's leading diversified asset manager, combining the iShares ETF franchise, active and private-market investing, institutional distribution and the Aladdin technology ecosystem. Business quality is high: iShares held $6.35 trillion of ETF AUM and 27.5% global ETF/ETP share as of July 31, 2026, while embedded Aladdin, Preqin and eFront workflows support recurring technology revenue and switching costs. Q2 2026 revenue reached $7.084 billion, with revenue growth of 30.6% and earnings growth of 20.2% in the most recent quarter, supported by $15.345 trillion of AUM and $192 billion of quarterly net inflows.
The investment grade as of this refresh is A- — high business quality. A-tier business, B-tier valuation: BLK is undervalued versus $1,510.23 blended fair value with 37.9% upside, supported by Q2 flow momentum and a $2.0 billion 2026 repurchase plan.
Key Metrics at a Glance
- Revenue growth: +30.6% year over year
- Net margin: 24.1%
- Fair value upside: +37.9% to our estimate of $1510
Current price: $1095.37
These figures reflect our most recent data pull and are one input into a multi-factor valuation framework.
Our 12–18 Month Outlook
Quality companies held over a multi-year horizon benefit from compounding fundamentals and the patience to ride through short-term volatility. BlackRock, Inc. remains in our covered universe with a high-quality assessment. We update research when material data changes — earnings revisions, management shifts, or regime changes in valuation — not on every price fluctuation.
Long-term accumulation of quality businesses at fair or better prices is the core of the Patient Accumulator approach. Research updates like this one inform whether to add, hold, or wait for a better zone — not whether to react to short-term price moves.
[View full BLK research →](/stocks/BLK)