The Gotham Goliath brought in hundreds of billions in flows last year while being buoyed by rising markets, pushing its total assets under management about $14 trillion.

BlackRock [profile] brought in $699 billion in net inflows in 2025, according to the New York City-based asset management titan's earnings release supplement for the fourth quarter of 2025. The BlackRock team revealed their Q4 2025 earnings report yesterday, and management hosting an earnings call with analysts.

All of 2025

BlackRock's 2025 inflows of $699 billion were up by $58 billion (9 percent) year-over-year from 2024. Those 2025 inflows include:

$131 billion of net inflows into BlackRock's cash business, down by $22 billion (14.4 percent) Y/Y;

$526 billion into BlackRock's ETF business (which includes iShares), up by $136 billion (34.9 percent) Y/Y;

$107 billion of net inflows into long-term retail (non-ETF) funds, up by $82 billion Y/Y; and

$67 billion of net outflows from long-term institutional business, a $141-billion net flows drop Y/Y.

BlackRock ended 2025 with about $14.041518 trillion in AUM, up by $577.893 billion (4.3 percent) quarter-over-quarter from the end of Q3 2025 and up by $2.490267 trillion (21.6 percent) Y/Y from the end of 2024.

In 2025, BlackRock brought in $48.09 in adjusted diluted earnings per share, up by $4.48 (10.3 percent) Y/Y. The fund firm brought in $24.216 billion in 2025 revenue, up by $3.809 billion (18.7 percent) Y/Y. And the asset manager had a 2025 operating margin of 29.1 percent, down from 37.1 percent in 2024.

Q4 2025

In Q4 2025, BlackRock brought in $342 billion in net inflows, accounting for a whopping 48.9 percent of all of the fund firm's inflows for the whole year. Those Q4 2025 inflows were also up by $137 billion (66.8 percent) Q/Q and by $61 billion (21.7 percent) Y/Y.

Those Q4 2025 inflows include:

$74 billion into BlackRock's cash business, up by $40 billion (54.1 percent) Q/Q but down by $7 billion (8.6 percent) Y/Y;

$181 billion into its ETF business, up by $28 billion (18.3 percent) Q/Q and up by $38 billion (26.6 percent) Y/Y;

$82 billion into its long-term retail (non-ETF) funds, up by $72 billion Q/Q and up by $77 billion Y/Y; and

$4 billion into its long-term institutional business, down by $4 billion (50 percent) Q/Q and down by $49 billion Y/Y.

BlackRock brought in $13.16 in adjusted diluted EPS in Q4 2025, up by $1.23 (10.3 percent) Y/Y and (per Seeking Alpha) beating analysts' estimates by $0.95 (7.8 percent). The fund firm brought in $7.008 billion in Q4 2025 revenue, up by $499 million (7.7 percent) Q/Q and up by $1.331 billion (23.4 percent) Y/Y. The company had a Q4 2025 operating margin of 23.7 percent, compared with 36.6 percent in Q4 2024. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE