Demand
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FY2026 Q1
개선
BlackRock, Inc. 실적 발표
Buzzberg 분석
Record Q1 inflows of $130 billion and 8% organic base fee growth.
BlackRock reported a standout Q1 2026 with $6.7bn revenue, $12.53 EPS, 44.5% operating margin, and $130bn net inflows. Organic base fee growth hit 8% (Q1) / 10% (TTM). Management emphasized strong wealth and institutional momentum, private markets infrastructure build-out, and the DOL proposal as a catalyst for retirement. No cross-company mentions were made; the call focused entirely on BlackRock's own performance and secular trends. Revenue $6.7bn (+27% YoY), EPS $12.53 (+11% YoY), operating margin 44.5% (+130bps).
Buzzberg 분석 Record Q1 inflows of $130 billion and 8% organic base fee growth. BlackRock reported a standout Q1 2026 with $6.7bn revenue, $12.53 EPS, 44.5% operating margin, and $130bn net inflows. Organic base fee growth hit 8% (Q1) / 10% (TTM). Management emphasized strong wealth and institutional momentum, private markets infrastructure build-out, and the DOL proposal as a catalyst for retirement. No cross-company mentions were made; the call focused entirely on BlackRock's own performance and secular trends. Revenue $6.7bn (+27% YoY), EPS $12.53 (+11% YoY), operating margin 44.5% (+130bps). 전체 분석 보기분석 접기
BlackRock reported a standout Q1 2026 with $6.7bn revenue, $12.53 EPS, 44.5% operating margin, and $130bn net inflows. Organic base fee growth hit 8% (Q1) / 10% (TTM). Management emphasized strong wealth and institutional momentum, private markets infrastructure build-out, and the DOL proposal as a catalyst for retirement. No cross-company mentions were made; the call focused entirely on BlackRock's own performance and secular trends. Revenue $6.7bn (+27% YoY), EPS $12.53 (+11% YoY), operating margin 44.5% (+130bps).
- Record Q1 ETF inflows of $132bn, led by international iShares and active ETFs.
- Appirio direct indexing hit a record $13bn quarterly inflows; SpiderRock $1bn.
- Private markets: $9bn net inflows; GIP5 closed above $25bn target; HPS integration ahead of expectations.
매출$6.698B-4% 전분기 대비
주당순이익(EPS)$12.53-5% 전분기 대비
매출총이익률48.01%보고값
영업이익률33.76%보고값
근거 있는 핵심 내용 6개
지금 중요한 점
이번 발표에서 가장 의미 있는 변화를 정리했습니다.
Demand
Active ETF AUM quadrupled in two years, exceeding $110 billion.
Private Markets
GIP5 closed above target, majority committed via TCR, AES, Aligned.
핵심 내용 3개 더 보기
Margins
Firm targets 45%+ margin; recurring fee margin to exceed 50%.
Regulation
DOL rule expected to unlock private assets in 401(k)s.
Private Credit
Private credit spreads widening 25-50 bps, presenting opportunities.
보고 기간
보고 실적
| 지표 | 보고값 | 변화 |
|---|---|---|
| 매출 | $6.698B | -4% 전분기 대비 |
| 주당순이익(EPS) | $12.53 | -5% 전분기 대비 |
| 매출총이익률 | 48.01% | 보고값 |
| 영업이익률 | 33.76% | 보고값 |
| 잉여현금흐름 | $-1.194B | 보고값 |
| 자본지출 | $0.106B | 보고값 |
AI, 자본지출 및 수요 분석
경영진 분석
Confident
Management repeatedly emphasizes strong momentum, record inflows, broad-based growth, and expanding margins, framing market volatility as an opportunity to gain share.
경영진의 AI 분석
Management notes both excitement and anxiety about AI's impact on day-to-day lives and business models, and sees AI reshaping how we live and work. They also highlight client demand to harness AI, decades of proprietary data, and BlackRock's track record of quantitative rigor in investment performance. AI is not a core revenue driver discussed explicitly.
방법론 및 범위
경영진 발언만 분석합니다. 검증된 기업 언급 0개를 모두 표시하며, 보고 실적과 향후 가이던스를 분리합니다. 공개 근거는 화자가 표시된 짧은 인용문 8개로 제한됩니다. AI 분석은 불완전하거나 틀릴 수 있으므로 중요한 주장은 원문에서 확인하세요.