BlackRock, Inc. — Earnings Quality Grade F
BLK · Financial Services
Major red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 78 days, change +1 days YoY
AR growth 19.8% vs revenue growth 18.7%
Revenue grew 18.7% but CFFO declined -20.8%
Expense Quality
No material inventory
CapEx growth 47.1% is >2x revenue growth 18.7%
SG&A/Gross Profit = 23.2%, excellent (<30%)
Gross margin 46.7%, change -2.7pp. Stable
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
FCF $3.6B, FCF/NI = 0.64
Accruals ratio = 1.0%. Low accruals
Cash $14.3B covers 95% of debt $15.0B
Balance Sheet Health
Goodwill+Intangibles $63.3B = 113% of equity. Over 50%
Debt/EBITDA = 1.6x. Healthy
Other assets 16.6% vs revenue 18.7%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles surged 35% YoY
Manipulation Score
M-Score = -2.21 (grey zone)
Beneish M-Score
Altman Z-Score — Not Applicable
BlackRock, Inc. is a financial company. Z-Score is designed for non-financial companies.
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-09