What is BlackRock, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on BlackRock, Inc.'s reported free cash flow gives $558.20 per share. The share price was $1,217.86 on November 10, 2026, 118% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 5.5% | 10.0% | $346.97 | -72% |
| Base | 10.5% | 9.0% | $558.20 | -54% |
| Bull | 15.5% | 8.0% | $979.23 | -20% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $718.00 | $767.29 | $827.53 | $902.83 | $999.65 |
| 8.0% | $598.36 | $630.33 | $668.10 | $713.43 | $768.84 |
| 9.0% | $511.13 | $532.98 | $558.20 | $587.62 | $622.39 |
| 10.0% | $444.82 | $460.36 | $477.97 | $498.10 | $521.33 |
| 11.0% | $392.80 | $404.20 | $416.93 | $431.26 | $447.49 |
Where the presets come from
Base: years 1 to 5 grow at BlackRock, Inc.'s revenue growth rate over the last 3 fiscal years (10.7% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions