BlackRock(BLK) - 2025 Q4 - Earnings Call Presentation

Financial Performance - BlackRock's Assets Under Management (AUM) reached $14.0 trillion as of December 31, 2025[2] - Q4 2025 Base Fees and Securities Lending Revenue totaled $5.3 billion[2] - Q4 2025 Operating Income, as adjusted, was $2.848 billion[8] - Q4 2025 EPS, as adjusted, reached $13.16[9] Asset Flows and Growth - Total BlackRock experienced net inflows of $82 billion in Q4 2025[5] - ETFs Long-term organic asset growth rate was 12% in Q4 2025[5] - Long-term Cash organic asset growth rate was 3% in Q4 2025[5] Revenue Analysis - Base fees accounted for 73% of quarterly revenue[22] - Base fees increased by 20% year-over-year and 5% sequentially in Q4 2025[22] - Performance fees increased by 67% year-over-year and 46% sequentially in Q4 2025[22] Expense Analysis - Employee compensation & benefits increased by 28% year-over-year and 9% sequentially in Q4 2025[34]