ADDED
As of January 31, 2026 , there were 155,541,536 shares of the registrant s common stock outstanding ( 163,156,051 on a fully diluted basis, including 7,614,515 Class B-2 common units of a consolidated subsidiary, BlackRock Saturn Subco, LLC, which are exchangeable on a one-for-one basis into common stock of the registrant).
On July 1, 2025, BlackRock completed the acquisition of 100% of the business and assets of HPS Investment Partners (the "HPS Transaction" or "HPS"), a leading global credit investment manager, with substantially all consideration paid in Class B-2 common units ("Subco Units") of BlackRock Saturn Subco, LLC ("Subco"), a consolidated subsidiary of the Company.
Concurrent with the acquisition, BlackRock Finance, Inc., Global Infrastructure Management, LLC ("GIP"), HPS, and their respective subsidiaries became wholly owned subsidiaries of Subco.
For additional information on the HPS Transaction see Note 3, Acquisitions , in the notes to the consolidated financial statements contained in Part II, Item 8 for additional information.
Product offerings include single- and multi-asset portfolios investing in equities, fixed income, private markets, liquid alternatives, digital assets, currencies and commodities, and money market instruments.
1 Financial Highlights (in millions, except per share data) GAAP: 2025 2024 2023 2022 2021 Total revenue $ 24,216 $ 20,407 $ 17,859 $ 17,873 $ 19,374 Operating income $ 7,045 $ 7,574 $ 6,275 $ 6,385 $ 7,450 Operating margin 29.1 % 37.1 % 35.1 % 35.7 % 38.5 % Nonoperating income (expense) (1) $ 312 $ 578 $ 706 $ 89 $ 419 Net income attributable to BlackRock, Inc.
$ 5,553 $ 6,369 $ 5,502 $ 5,178 $ 5,901 Diluted earnings per common share $ 35.31 $ 42.01 $ 36.51 $ 33.97 $ 38.22 (in millions, except per share data) As adjusted (2) : 2025 2024 2023 2022 2021 Operating income $ 9,600 $ 8,110 $ 6,593 $ 6,711 $ 7,747 Operating margin 44.1 % 44.5 % 41.7 % 42.8 % 46.8 % Nonoperating income (expense) (1) $ 251 $ 533 $ 648 $ 89 $ 419 Net income attributable to BlackRock, Inc.
$ 7,736 $ 6,612 $ 5,692 $ 5,391 $ 6,254 Diluted earnings per common share $ 48.09 $ 43.61 $ 37.77 $ 35.36 $ 40.51 (1) Net of net income (loss) attributable to noncontrolling interests ("NCI") - consolidated sponsored investment products ("CIPs") (redeemable and nonredeemable).
Beginning in the third quarter of 2025, net income attributable to BlackRock, Inc., as adjusted, and diluted earnings per common share, as adjusted, assume all Subco units have been exchanged in accordance with their terms on a one-for-one basis into common stock of BlackRock.
Accordingly, the noncontrolling interest allocated to these Subco Units has been included as part of net income attributable to BlackRock Inc., as adjusted.
REMOVED
As of January 31, 2025 , there were 155,253,443 shares of the registrant s common stock outstanding.
On October 1, 2024, BlackRock completed the acquisition of 100% of the issued and outstanding limited liability company interests of Global Infrastructure Management, LLC ("GIP" or the "GIP Transaction").
As a result of the closing of the GIP Transaction, BlackRock, Inc.
("BlackRock Funding")) ( New BlackRock ) became the ultimate parent company of BlackRock Finance, Inc.
(formerly known as BlackRock, Inc.) ( Old BlackRock ), GIP and their respective subsidiaries.
See Note 1, Business Overview and Note 3, Acquisitions, in the notes to the consolidated financial statements contained in Part II, Item 8 for additional information.
Product offerings include single- and multi-asset portfolios investing in equities, fixed income, private markets, liquid alternatives and money market instruments.
1 Financial Highlights (in millions, except per share data) GAAP: 2024 2023 2022 2021 2020 Total revenue $ 20,407 $ 17,859 $ 17,873 $ 19,374 $ 16,205 Operating income $ 7,574 $ 6,275 $ 6,385 $ 7,450 $ 5,695 Operating margin 37.1 % 35.1 % 35.7 % 38.5 % 35.1 % Nonoperating income (expense) (1) $ 578 $ 706 $ 89 $ 419 $ 475 Net income attributable to BlackRock, Inc.
$ 6,369 $ 5,502 $ 5,178 $ 5,901 $ 4,932 Diluted earnings per common share $ 42.01 $ 36.51 $ 33.97 $ 38.22 $ 31.85 (in millions, except per share data) As adjusted (2) : 2024 2023 2022 2021 2020 Operating income $ 8,110 $ 6,593 $ 6,711 $ 7,747 $ 6,433 Operating margin 44.5 % 41.7 % 42.8 % 46.8 % 46.0 % Nonoperating income (expense) (1) $ 533 $ 648 $ 89 $ 419 $ 353 Net income attributable to BlackRock, Inc.
$ 6,612 $ 5,692 $ 5,391 $ 6,254 $ 5,352 Diluted earnings per common share $ 43.61 $ 37.77 $ 35.36 $ 40.51 $ 34.57 (1) Net of net income (loss) attributable to noncontrolling interests (redeemable and nonredeemable).