BlackRock (BLK) FY2023 results: revenue $17.9 billion, down 0.1% on the year
BlackRock, Inc. (BLK) reported revenue of $17.9 billion for fiscal 2023, the year ended 31 December 2023, down 0.1% on the year before. Net income was $5.5 billion, up 6.3%, and diluted earnings per share $36.51. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.
Revenue
$17.9 billion
-0.1% on the year
FY2016FY2023
Operating margin
35.1%
35.7% a year earlier
FY2016FY2023
Net income
$5.5 billion
+6.3% on the year
FY2016FY2023
Diluted EPS
$36.51
+7.5% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
4,165
4,956
4,944
-16.0%
Capital expenditure
344
533
341
-35.5%
Free cash flow
3,821
4,423
4,603
-13.6%
Free cash flow margin
21.4%
24.7%
23.8%
Cash from investing
-959
-1,130
-1,937
Cash from financing
-1,992
-5,442
-2,287
Depreciation and amortisation
263
251
249
+4.8%
Share-based compensation
630
708
734
-11.0%
Buybacks
1,884
2,332
1,485
-19.2%
Dividends paid
3,035
2,990
2,547
+1.5%
Dividend per share
$20.00
$19.52
n/a
+2.5%
Diluted shares, weighted
151m
152m
154m
-1.1%
Shares outstanding at period end
149m
150m
152m
-0.8%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
39,347
37,744
37,693
+4.2%
Non-controlling interest
153
132
113
+15.9%
Redeemable equity
1,740
909
1,087
+91.4%
Debt
7,918
6,654
7,446
+19.0%
Other liabilities
74,053
72,189
106,309
+2.6%
Total liabilities and equity
123,211
117,628
152,648
+4.7%
Fixed assets
1,112
1,031
762
+7.9%
Goodwill
15,524
15,341
15,351
+1.2%
Intangible assets
18,258
18,302
18,453
-0.2%
Securities held for sale or to maturity
617
544
430
+13.4%
Cash and equivalents
8,736
7,416
9,323
+17.8%
Other assets
78,964
74,994
108,329
+5.3%
Total assets
123,211
117,628
152,648
+4.7%
10-K for the year ended 31 December 2023, filed 23 February 2024: the filing.