BlackRock (BLK)
The desk's stance
On our research list, not on the slate.
What the company does
The $12T asset manager whose iShares ETFs sit inside almost every account on this map — whoever wins the brokerage war, BlackRock collects the fee.
In short: Asset management and financial technology. Category: Global Diversified Asset Manager. Sector: Financial Services, Asset Management.
G-Street Value and Score
G-Street Value: $1,154.96, computed Oct 18, 2026 (confidence: medium).
How we got there: 50% analyst leg $1229.77 (street consensus, after 8% optimism discount) + 50% GainStreet factor value $1080.15 (16.71× fwd EPS anchored to financials multiples). 4 analyst targets have no linked source and are shown but not counted; this value will not open a position until they are sourced.
G-Street Score: 65 out of 100 (Medium).
- Top-line growth & guidance: 27 of 32
- Margin power: 7 of 15
- Revenue visibility & quality: 5 of 11
- Profitability & balance sheet: 17 of 24
- Capital allocation & governance: 4 of 6
- Valuation, sentiment & momentum: 5 of 12
Our current thesis
Updated Oct 15, 2026
The thesis
- Unmatched $15.5T AUM scale and iShares franchise drive steady industry-leading organic net inflows.
- Quarterly revenue accelerated sequentially to $7.75B alongside widening EPS beats.
- Expanding private market and Aladdin technology capabilities provide sticky, higher-margin recurring revenues.
Risks
- Net margin of 24.2% trails financial peers SCHW (39%) and CME (63%).
- Asset-based fee revenue remains acutely vulnerable to broad equity and bond market pullbacks.
- Valuation at 17.3x forward earnings commands a distinct premium over Morgan Stanley (13.4x).
What we're watching
- Sustainability of quarterly net inflows across iShares ETFs and private debt strategies.
- Operating margin durability above management's 45% target through Q4 2026.
- Technical resistance at 52-week high of $1,209.89 following the post-earnings breakout.
Latest
BlackRock surged 4.4% to $1,120.78 following a Q3 2026 top- and bottom-line beat with $7.75B in revenue and $15.93 adjusted EPS. Total AUM reached a record $15.49T supported by $205B in quarterly net inflows and expanding operating margins of 47.8%. The stock trades at 17.3x forward earnings, backed by four consecutive quarters of expanding EPS surprise margins.
Key numbers
As of Oct 16, 2026: market cap $184.3B · revenue growth +19.1% year over year · gross margin 48.3% · net margin 24.2% · forward P/E 17.5 · next earnings Jan 14, 2027.
On the Gainz Lab maps
Who it does business with
- BlackRock supplies Robinhood — The ETFs retail buys. iShares ETFs fill Robinhood retirement accounts — BlackRock collects its fee no matter which app wins.