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BlackRock vs Galaxy Digital: revenue, profit, margins and growth compared

BlackRock brought in $24.2B of revenue in fiscal 2025, Galaxy Digital $60.4B in fiscal 2025. Revenue changed by +18.7% at BlackRock and +41.8% at Galaxy Digital on the year before, so Galaxy Digital grew faster. BlackRock kept 22.9% of its revenue as net profit, Galaxy Digital -0.4%. Free cash flow was $3.6B at BlackRock and -$1.5B at Galaxy Digital.

Side by side, latest fiscal year

BLKGLXY
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$24.2B$60.4B
Revenue growth+18.7%+41.8%
Net income$5.6B-$241.3M
Net margin22.9%-0.4%
Free cash flow$3.6B-$1.5B
Free cash flow margin14.7%-2.5%
Earnings per share (diluted)$35.31n/a
Cash$11.5B$1.2B
Debt$12.8Bn/a
Price to earnings30.8n/a
Market value$168.2B$9.5B
Dividend yield1.92%n/a
Rank by revenue in sector#25 of 444 · Finance#12 of 444 · Finance

Over the years

Revenue
BLK FY2022: $17.9BBLK FY2024: $17.9BBLK FY2024: $20.4BBLK FY2025: $24.2BGLXY FY2023: $51.6BGLXY FY2025: $42.6BGLXY FY2025: $60.4BFY22FY23FY24FY25
BLK $24.2BGLXY $60.4B
Net income
BLK FY2022: $5.2BBLK FY2024: $5.5BBLK FY2024: $6.4BBLK FY2025: $5.6BGLXY FY2023: $228.5MGLXY FY2025: $346.7MGLXY FY2025: -$241.3MFY22FY23FY24FY25
BLK $5.6BGLXY -$241.3M
Net margin
BLK FY2022: 29.0%BLK FY2024: 30.8%BLK FY2024: 31.2%BLK FY2025: 22.9%GLXY FY2023: 0.4%GLXY FY2025: 0.8%GLXY FY2025: -0.4%FY22FY23FY24FY25
BLK 22.9%GLXY -0.4%
Revenue growth
BLK FY2024: -0.1%BLK FY2024: +14.3%BLK FY2025: +18.7%GLXY FY2025: -17.5%GLXY FY2025: +41.8%FY24FY25
BLK +18.7%GLXY +41.8%
Free cash flow
BLK FY2022: $4.4BBLK FY2024: $3.8BBLK FY2024: $4.7BBLK FY2025: $3.6BGLXY FY2023: -$49.7MGLXY FY2025: -$264.1MGLXY FY2025: -$1.5BFY22FY23FY24FY25
BLK $3.6BGLXY -$1.5B

Fiscal years as each company reports them; the two may end in different months.

Questions about BlackRock and Galaxy Digital

Which is bigger by revenue, BlackRock or Galaxy Digital?

Galaxy Digital is bigger by revenue: $60.4B in fiscal 2025, against $24.2B for BlackRock in fiscal 2025.

Which keeps more of its revenue as profit, BlackRock or Galaxy Digital?

BlackRock had a net margin of 22.9% in fiscal 2025; Galaxy Digital had -0.4% in fiscal 2025.

Which grew revenue faster, BlackRock or Galaxy Digital?

In their latest fiscal years revenue changed by +18.7% at BlackRock and +41.8% at Galaxy Digital.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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