BlackRock Report

BlackRock, Inc. Profile

55 E. 52nd St.New York, NY 10055 United States

http://www.blackrock.com

212-810-5300Phone:Fax: 212-810-8760

WELCOME

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HIDDEN TEXT TO MARK THE BEGINNING OF THE TOC

PAGE iOct 20, 2010• •866-541-3770 HOOVERS.COM

Table of Contents

1Company Overview

Key Information 1

Key Financials 1

Company Rankings 1

Key People 2

4Company Description

5Industry Information

6People

People 6

Board Members 9

10Biographies

Laurence D. (Larry) Fink 10

Susan L. Wagner 10

Robert S. (Rob) Kapito 11

Ann Marie Petach 11

13Company Financials

Financial Summary 13

Annual Income Statement 14

Quarterly Income Statement 15

Annual Balance Sheet 16

Quarterly Balance Sheet 17

Annual Cash Flow 18

Quarterly Cash Flow 19

Earnings Estimates 20

Financial Market Data 21

Historical Financials 22

23Competition

Competitors List 23

Competitive Landscape 24

PAGE iiOct 20, 2010• •866-541-3770 HOOVERS.COM

Company Overview

New York, NY 10055 United States

1301:Institutional Asset Management62820000:Investment advice523930:Investment AdviceBlackrock Realty

http://www.blackrock.com

R&D

Prescreen ScoreAdvertising

Market Value

ManufacturerSubsidiary Status

Plant/Facility Size (sq. ft.)

Location Type

Company TypeUltimate ParentUltimate Parent DUNSImmediate ParentImmediate Parent DUNS

DUNS Number

Owns / Rents

Total Employees

Year of Founding or Change in ControlEmployees At This Location

Accountant

1-Year Employee Growth

Foreign Trade

Headquarters

Public

786987052

NY

Deloitte & Touche LLP8,629

10061.56%

2006

Latitude/LongitudeTradestylePrimary NAICS CodePrimary SIC CodePrimary Industry

$4,700.00M

$875.00MNet Income

DecemberFiscal Year-End

1-Year Sales Growth

Total Assets11.32%1-Year Net Income Growth

(7.19%)Sales ($ M)

40.75894

$177,994.00M

----

$33,656.67M

Low Risk

8,849.00

No

Rents

212-810-5300Phone:

55 E. 52nd St.

Now this is the kind of coal you want in your stocking. BlackRock is one of the world's largest money managers. The firm, withmore than $3 trillion under management, specializes in fixed-income products and money market instruments for institutionaland retail investors, as well as high-net-worth individuals worldwide. Clients include pension plans, insurance companies,mutual funds, endowments, foundations, and charities. BlackRock does not engage in proprietary trading. It also provides riskmanagement services (through BlackRock Solutions), manages hedge funds, and oversees the operations of publicly tradedreal estate investment trust Anthracite Capital. BlackRock has offices in some 25 countries.

Fax: 212-810-8760

Key Information

Key Financials

-73.9735 /

Company Rankings441 in FORTUNE 500162 in FT Global 500

PAGE 1Oct 20, 2010• •866-541-3770 HOOVERS.COM

Oct 20, 2010• •866-541-3770 HOOVERS.COM

Key People

Name Title

Mr. Laurence D. (Larry) Fink Chairman and CEO

Mr. Robert W. (Rob) Fairbairn Vice Chairman

Mr. Peter R. Fisher Vice Chairman; Head, Fixed Income

Ms. Susan L. Wagner Vice Chairman

Mr. Kendrick R. Wilson III Vice Chairman

Mr. Robert S. (Rob) Kapito President and Director

Mr. Charles S. Hallac Senior Managing Director and COO

Ms. Ann Marie Petach CFO

Mr. Robert C. (Bob) Doll Vice Chairman and Global Chief Investment Officer - Equitiy

Mr. Joseph Feliciani Jr. Managing Director and Chief Accounting Officer


Company DescriptionCEO Laurence Fink, who has overseen a string of major acquisitions in recent years, engineered a blockbuster mergerwith Barclays Global Investors in 2009. In the deal, which was several years in the making, BlackRock bought BarclaysGlobal Investors from UK banking giant Barclays for some $15 billion. The deal resulted in a new company operatingunder the BlackRock name. Barclays Bank retained a 20% stake in the new combined firm, but Fink remained in chargeof the enterprise.

The merger nearly tripled BlackRock's assets under management and propelled the company to the top of theinternational money management industry by enhancing its investment and risk management capabilities. The deal alsogave BlackRock a much larger footprint outside the US and added more than 3,500 new employees.

BlackRock has traditionally focused investments on developed economies. However, the company is looking to expandits view to include emerging markets such as Asia and Latin America. BlackRock is preparing to expand its client baseand do more than half of its business outside of the US within five years.

Adding on to the Barclays merger, BlackRock also acquired most of the assets of Charlotte-based financial firm HelixFinancial Group in 2010. The deal enhanced BlackRock's real estate analytics and workout capabiltiies, in addition toadding offices and personnel in Charlotte, Atlanta, and India.

BlackRock has gained more of a connection to business in Charlotte. Earlier in 2009 Charlotte-based Bank of Americaacquired Merrill Lynch and assumed that firm's capital stock (some 34%) in BlackRock. PNC Financial owns about about25% of BlackRock.

Even prior to the Barclays Global deal, BlackRock was growing rapidly through acquisition, gobbling up smaller firmsand other opportunities in the marketplace. In 2008 it bought $15 billion in distressed mortgage assets from UBS, thetroubled Swiss financial services giant. That year in a much smaller deal it bought Australian financial software firmImpact Investing, adding it to its solutions business unit. Then in 2009 BlackRock took over hedge fund R3 CapitalManagement, which manages some $1.5 billion in assets.

The firm began its skyrocketing growth when together with Tishman Speyer, the company's real estate unit BlackRockRealty acquired Stuyvesant Town-Peter Cooper Village in New York City from Met Life for $5.4 billion. The 2006 dealwas one of the largest in US history at the time. That venture proved less than successful in the wake of the real estateand credit market crashes, as property values plummeted and rent income followed. By 2009 the companies faceddefault due to high debt levels. The following year, BlackRock and Tishman Speyer defaulted on the $4.4 billion debtused to finance the deal and the property was handed over to creditors.


Industry InformationHoover's Industries

> Financial Services

> Asset Management> Institutional Asset Management ( primary )> Hedge Fund Management> Mutual Fund Management

Denotes In-depth Industry Insight by Hoover's Editorial Staff

Primary SIC Code62820000 : Investment advicePrimary NAICS Code523930 : Investment Advice


PeopleEmployees

Name Age SalaryTitle Bonus

Mr. Laurence D. (Larry)Fink

$500,000.00 $9,050,000.0057Chairman and CEO

Mr. Robert W. (Rob)Fairbairn

-- --Vice Chairman

Mr. Peter R. Fisher -- --Vice Chairman; Head, Fixed IncomeMs. Susan L. Wagner $300,000.00 $2,612,500.0047Vice ChairmanMr. Kendrick R. Wilson III -- --Vice ChairmanMr. Robert S. (Rob) Kapito $400,000.00 $7,010,200.0052President and DirectorMr. Charles S. Hallac $300,000.00 $3,475,000.0045Senior Managing Director and COOMs. Ann Marie Petach $450,000.00 $1,655,000.0049CFOMr. Robert C. (Bob) Doll $400,000.00 $13,875,000.0055Vice Chairman and Global Chief

Investment Officer - EquitiyMr. Joseph Feliciani Jr. -- --Managing Director and Chief

Accounting OfficerMr. Peter Knez -- --Managing Director and CIO, Fixed

Income, Index and Model-BasedPortfolios; Head, Index and Model-Based Fixed Income

Mr. Chris Leavy -- --Chief Investment Officer, USFundamental Equity

Mr. Andrew J. Phillips -- --Chief Performance Officer, FixedIncome

Mr. Quintin Price -- --Managing Director, FundamentalEquity and Chief Investment Officer- Europe, Middle East, Africa, andPacific Equity

Mr. Rick M. Rieder -- --Chief Investment Officer, FixedIncome, Fundamental Portfolios;Head Corporate Credit, Multi Sector,and Mortgage Group

Ms. Stephanie Chang -- --VP Corporate Communications,Taiwan

Ms. Sabrina Leung -- --VP Corporate Communications,Hong Kong

Ms. Libby O'Sullivan -- --VP Media Relations, Melbourne,Australia

Ms. Emma Phillips -- --VP and Director CorporateCommunications, Europe, MiddleEast, Africa

Mr. Zach Buchwald -- --Managing Director Client AdvisoryServices, FMA Group

Ms. Juliet Bullick -- --Managing Director and Head of UK



Institutional Account ManagementMs. Marie Chandoha -- --Head Business and Product

Strategy, Fixed IncomeMr. Samuel (Sam) Coleman -- --Managing Director Client Advisory

Services, FMA GroupMr. Daniel Gamba -- --Head Latin America and IberiaDr. Bennett W. Golub -- --52Vice Chairman and Co-Head Risk and

Quantitative AnalysisMr. Peter Hayes -- --Managing Director and Head

Municipal BondsMr. Alex Hoctor-Duncan -- --Head, Retail Business UKMr. Kevin Holt -- --Managing Director and Head

Financial InstitutionsMs. Debra Huddleston -- --Managing Director Client Advisory

Services, Financial Markets AdvisoryGroup

Mr. J. Richard Kushel -- --Senior Managing Director and HeadPortfolio Management

Mr. Mike Latham -- --44Global Head, iSharesMr. Ryan Marshall -- --Managing Director and Co-Head,

FMA Portfolio ManagementMr. Craig S. Phillips -- --Managing Director and Global Head,

Financial Markets Advisory GroupDr. Luiz F. Pinheiro deAndrade

-- --56Managing Director and CountryHead, Brazil

Mr. Richard Prager -- --Head Trading for Fixed IncomeMr. Maarten Slendebroek -- --Managing Director and Head,

BlackRock Solutions EMEAMr. Martin Small -- --Managing Director Client Advisory

Services, FMA GroupMr. Scott F. Thiel -- --Deputy Chief Investment Officer,

Fixed Income, FundamentalPortfolios; Head, European and Non-US Fixed Income

Mr. Roland E. Villacorta -- --Managing Director and Co-Head,FMA Portfolio Management

Mr. Brian Beades -- --Director Corporate Communications,Americas

Mr. Lance Berg -- --Managing Director - iShares, SanFrancisco

Mr. James J. Charrington -- --Managing DirectorMs. Katherine Cheung -- --Managing Director Corporate



Communications, AsiaBobbie Collins -- --Managing Director Corporate

Communications, AmericasAkiva Dickstein -- --Managing Director, Mortgage

PortfoliosMs. Caroline Hancock -- --Director - iShares, LondonMs. Christine Hudacko -- --Director - iShares, San FranciscoMs. Rebecca Nelson -- --Director Media Relations, LondonMs. Debbie Pearce -- --Director - iShares, SydneyDr. Jeffrey A. Smith -- --Senior Managing Director and Head

Human Resources


Board Members

Name AgeTitle

Mr. Laurence D. (Larry) Fink 57Chairman and CEO

Mr. Robert W. (Rob) FairbairnVice Chairman

Mr. Peter R. FisherVice Chairman; Head, Fixed Income

Ms. Susan L. Wagner 47Vice Chairman

Mr. Kendrick R. Wilson IIIVice Chairman

Mr. Robert S. (Rob) Kapito 52President and Director

Mr. Abdlatif Y. Al-Hamad 72Director

Mr. Mathis Cabiallavetta 65Director

Mr. Dennis D. Dammerman 64Director

Mr. William S. (Bill) Demchak 47Director

Mr. Robert E. (Bob) Diamond Jr. 58Director

Dr. Kenneth B. Dunn 58Director

Mr. Murry S. Gerber 57Director

Ms. Linda Gosden Robinson 57Director

Mr. James Grosfeld 72Director

Mr. David H. Komansky 70Director

Ms. Sallie L. Krawcheck 45Director

Mr. Mark D. Linsz 45Director

Sir Deryck Maughan 62Director

Mr. Thomas H. O'Brien 73Director

Ms. Linda Gosden Robinson 56Director

Mr. James E. (Jim) Rohr 61Director

Mr. John S. Varley 53Director


BiographiesLaurence D. (Larry) Fink, Age 57

Title held since 1998 : Chairman and CEO

Current Company Titles1998 - Present : Chairman and CEO

Current Company Compensation HistorySalary Bonus Total compensation

$500,000.00 $9,050,000.002009 : $15,859,416.00

$500,000.00 $16,150,000.002007 : $26,421,106.00

$500,000.00 $10,162,500.002006 : $34,044,500.00

$500,000.00 $10,125,000.002005 : --

$500,000.00 $7,210,000.002004 : --

$500,000.00 $6,101,991.002003 : --

$500,000.00 $8,042,024.002002 : --

$500,000.00 $9,027,558.002001 : --

$500,000.00 $7,589,463.002000 : --

Other Company AffiliationsVice Chair, New York University

Past Company AffiliationsChairman; Chairman and CEO, BlackRock, Anthracite Capital, Inc.

Director, NYSE Euronext

Biography

Source : Proxy, April 23, 2010

Laurence D. Fink, Director since 1999, has beenChairman and Chief Executive Officer ofBlackRock since its formation in 1998 and of BlackRock¿s predecessor entities since 1988.Mr. Fink is also a trustee of one of BlackRock¿s open-end fund complexes. As the principalleader of BlackRock and its predecessor entities since1988, Mr. Fink brings a breadth ofknowledge about BlackRock¿s business and operations, which led the Board of Directors toconclude that he should serve as a director of BlackRock.

Susan L. Wagner, Age 47

Title held since 2010 : Vice Chairman

Current Company Titles2010 - Present : Vice Chairman

2005 - 2010 : Vice Chairman and COO

Unknown -2005 : Managing Director and Head of Strategy and Product Development


$300,000.00 $2,612,500.002009 : $4,241,593.00


Salary Bonus Total compensation

$250,000.00 $2,000,000.002005 : --

Other Company AffiliationsDirector, Courier Corporation

Biography


Susan L. Wagner, has been a Vice Chairman since 2006 and Chief Operating Officer since2005. Previously, Ms. Wagner was a Managing Director and Head of Strategy and ProductDevelopment. Ms. Wagner has been with BlackRock or its predecessor entities since 1988.

Robert S. (Rob) Kapito, Age 52

Title held since 2007 : President and Director

Current Company Titles2007 - Present : President and Director


$400,000.00 $7,010,200.002009 : $11,949,655.00

$400,000.00 $12,361,800.002007 : $18,814,822.00

$350,000.00 $8,904,750.002006 : $23,116,176.00

$350,000.00 $11,290,500.002005 : --

$350,000.00 $7,977,915.002004 : --

$350,000.00 $2,341,037.002003 : --

$350,000.00 $7,483,572.002002 : --

$350,000.00 $9,857,775.002001 : --

$350,000.00 $10,318,222.002000 : --

Biography


Robert S. Kapito, Director since 2006, has been President of BlackRock since 2007, andprior to 2007 had served as Vice Chairman of BlackRock and Head of its PortfolioManagement Group since its formation in 1998 and BlackRock's predecessor entities since1988.Mr. Kapito has served as a leader of BlackRock and its predecessor entities since 1988and has acquired a breadth of knowledge about BlackRock's business and operations, whichled the Board of Directors to conclude that he should serve as a director of BlackRock.

Ann Marie Petach, Age 49

Title held since 2010 : CFO


Current Company Titles2010 - Present : CFO


$450,000.00 $1,655,000.002009 : $2,520,726.00

Biography


Ann Marie Petach has been Chief Financial Officer ofBlackRock since June 2008. Ms. Petachwas a Managing Director and Head of Business Finance at BlackRock from June 2007 toJune 2008. Prior to joining BlackRock, Ms. Petach was Vice President and Treasurer at theFord Motor Company fromNovember 2004 to June 2007. Ms. Petach began her career in1984 at Ford, where her responsibilities included pension asset management, actuarialstudies, banking, risk management and funding for Ford and Ford Credit.


Auditor

$4,700.00M

$875.00MNet Income

PublicCompany Type

1-Year Sales Growth

Prescreen Score11.32%1-Year Net Income Growth

(7.19%)Sales

Low RiskDeloitte & Touche LLP

Financial Summary

Fiscal Year-End December

NYSE: BLKHeadquarters

2009

2009

Company Financials


Annual Income Statement

All amounts in millions of US Dollars except per share amounts.

Dec 2009

Revenue 4,700.00

Cost of Goods Sold 2,279.00Gross Profit 2,421.00

Gross Profit Margin 51.51%SG&A Expense 874.00Depreciation and Amortization 147.00Operating Income 1,278.00Operating Margin 27.19%Nonoperating Income 42.00Nonoperating Expenses (48.00)Income Before Taxes 1,272.00Income Taxes 375.00Net Income After Taxes 897.00

Continuing Operations 875.00Discontinued Operations --Total Operations 875.00Total Net Income 875.00Net Profit Margin 18.62%

Diluted EPS from Continuing Operations 6.11Diluted EPS from Total Operations 6.11Diluted EPS from Total Net Income 6.11Dividends per Share 3.12

Dec 20085,064.00

2,412.002,652.00

52.37%745.00276.00

1,593.0031.46%

(573.00)(1.00)

1,019.00388.00631.00

786.00--

786.00786.0015.52%

5.915.915.913.12

Dec 20074,844.65

----

--870.37237.83

1,293.6626.70%504.00

--1,822.72

463.831,358.89

995.27--

995.27995.27

20.54%

7.537.537.532.68

Dec 20062,097.98

----

--443.26

37.51471.80

22.49%66.35

(1,626.18)528.23189.46338.77

322.60--

322.60322.6015.38%

3.873.873.871.68

Dec 20051,191.39

----

--204.85

7.51340.54

28.58%43.14

(850.84)375.76138.56237.20

233.91--

233.91233.91

19.63%

3.503.503.501.20


Quarterly Income Statement


Quarter Ending Jun 2010

Revenue 2,032.00

Cost of Goods Sold 806.00Gross Profit 1,226.00

Gross Profit Margin 60.33%SG&A Expense 462.00Depreciation and Amortization 40.00Operating Income 697.00Operating Margin 34.30%Nonoperating Income (42.00)Nonoperating Expenses (33.00)Income Before Taxes 622.00Income Taxes 233.00Net Income After Taxes 389.00

Continuing Operations 432.00Discontinued Operations --Total Operations 432.00Total Net Income 432.00Net Profit Margin 21.26%

Diluted EPS from Continuing Operations 2.21Diluted EPS from Total Operations 2.21Diluted EPS from Total Net Income 2.21Dividends per Share 1.00

Mar 20101,995.00

873.001,122.00

56.24%402.00

40.00654.00

32.78%38.00

(36.00)656.00228.00428.00

423.00--

423.00423.0021.20%

2.172.172.171.00

Dec 20091,544.00

723.00821.00

53.17%369.00239.00389.0025.19%

37.00(19.00)407.00150.00257.00

256.00--

256.00256.0016.58%

1.611.611.61

0.78

Sep 20091,140.00

563.00577.00

50.61%161.00175.00357.0031.32%

89.00(11.00)

435.00101.00

334.00

317.00--

317.00317.00

27.81%

2.272.272.270.78

Jun 20091,029.00

515.00514.00

49.95%191.0036.00

261.0025.36%

88.00(11.00)

338.0094.00

244.00

218.00--

218.00218.0021.19%

1.591.591.590.78


Annual Balance Sheet


Current Assets

Inventories

Dec 2009

CashNet Receivables

Total Current Assets

1,919.00

Net Fixed Assets

0.00

445.00

4,708.00

6,627.00

--

170,922.00

Other Current Assets

177,994.00Total Assets

Assets

Other Noncurrent

Preferred Stock EquityCommon Stock Equity

1.00

Dec 2009

24,328.00

Shares Outstanding (M) 191.5124,329.00Total Equity

Shareholder's Equity

Long-Term Debt

Accounts Payable

Other Current Liabilities

Dec 2009

145,231.00Total LiabilitiesOther Noncurrent

Current Liabilities

3,434.00

2,234.00

153,665.00

--

2,766.005,000.00

Short-Term Debt

Total Current Liabilities

Liabilities

Dec 2008

1,210.00

--

260.00

2,032.00

--

--

19,664.0019,924.00

0.00

Dec 2008

12,066.00

191.5112,066.00

Dec 2008

6,912.00946.00

200.00

7,858.00

--

----

Dec 2007

1,235.94

266.46

1,656.20

--

--

22,295.0522,561.52

0.13

Dec 2007

11,596.83

191.5111,596.96

Dec 2007

9,903.191,061.37

300.00

10,964.56

--

----

Dec 2006

1,077.55

214.78

1,160.30

--

--

20,254.7120,469.49

0.13

Dec 2006

10,781.75

191.5110,781.88

Dec 2006

9,190.61497.00

--

9,687.61

--

----

Dec 2005

339.58

129.45

484.22

--

--

1,718.551,848.00

--

Dec 2005

922.24

191.51922.24

Dec 2005

671.97253.79

925.76

--

----


Quarterly Balance Sheet


Current Assets

Inventories

Jun 2010

CashNet Receivables

Total Current Assets

2,147.00

Net Fixed Assets

0.00

433.00

2,183.00

4,330.00

--

157,503.00

Other Current Assets

162,266.00Total Assets

Assets

Other Noncurrent

Quarter Ending

Long-Term Debt

Accounts Payable

Other Current Liabilities

Quarter Ending Jun 2010

131,531.00Total LiabilitiesOther Noncurrent

Current Liabilities

3,262.00

444.00

137,312.00

--

2,075.002,519.00

Short-Term Debt

Total Current Liabilities

Liabilities

Quarter Ending

Preferred Stock EquityCommon Stock Equity

1.00

Jun 2010

24,953.00

Shares Outstanding (M) 191.5124,954.00Total Equity

Shareholder's Equity

Mar 2010

2,038.00

450.00

2,703.00

4,741.00

--

162,869.00168,060.00

Mar 2010

137,202.003,286.00

880.00

143,412.00

--

2,044.002,924.00

1.00

Mar 2010

24,647.00

191.5124,648.00

Dec 2009

1,919.00

445.00

4,708.00

6,627.00

--

170,922.00177,994.00

Dec 2009

145,231.003,434.00

2,234.00

153,665.00

--

2,766.005,000.00

1.00

Dec 2009

24,328.00

191.5124,329.00

Sep 2009

1,310.00

250.00

2,763.00

4,073.00

--

17,057.0021,380.00

Sep 2009

5,773.00944.00

200.00

8,320.00

--

1,403.001,603.00

1.00

Sep 2009

13,059.00

191.5113,060.00

Jun 2009

1,171.00

252.00

2,305.00

3,476.00

--

16,681.0020,409.00

Jun 2009

5,387.007,664.00

--

1,133.001,333.00

1.00

Jun 2009

12,744.00

191.5112,745.00


Annual Cash Flow


Dec 2009

Cash and Cash Equivalents at the Beginningof Year

2,032.00

Net Cash Provided in Operating Activities 1,399.00Net Cash Provided by Investing Activities (5,519.00)Net Cash Provided by Financing Activities 6,749.00Net Increase/Decrease in Cash and CashEquivalents

2,676.00

Cash and Cash Equivalents at the End ofYear

4,708.00

Dec 2008

1,656.20

1,916.00(394.00)(887.00)

376.00

2,032.00

Dec 2007

1,160.30

587.45(1,068.83)

958.86495.90

1,656.20

Dec 2006

484.22

720.883.57

(84.90)676.08

1,160.30

Dec 2005

457.67

254.94(219.79)

(4.27)26.55

484.22


Quarterly Cash Flow


Quarter Ending Jun 2010Cash and Cash Equivalents at the Beginningof Year

2,703.00

Net Cash Provided in Operating Activities 310.00Net Cash Provided by Investing Activities (402.00)Net Cash Provided by Financing Activities (2,372.00)Net Increase/Decrease in Cash and CashEquivalents

(2,525.00)

Cash and Cash Equivalents at the End ofYear

2,183.00

Mar 20104,708.00

(164.00)(30.00)

(1,755.00)(2,005.00)

2,703.00

Dec 20092,763.00

1,399.00(5,519.00)

6,749.002,676.00

4,708.00

Sep 20092,305.00

831.0011.00

(171.00)731.00

2,763.00

Jun 20091,793.00

274.0018.00

(105.00)273.00

2,305.00


Earning Estimates

High Estimate

Average Estimate

Year ago EPS

11

Growth Rate

$2.37

16.84%

$2.45

$2.10

$2.65

Low Estimate

Consensus Recommendation

Sep 10

Number of Analysts

Current Quarter

12.44%$2.39$2.54$3.03

11

$2.69

Dec 10

Next Quarter

$9.90 $11.23

Current Year Next Year

Sep 10 Sep 10

12 11$10.46 $12.40$9.30 $10.05$7.13 --

38.84% 13.47%

Moderate Buy


Financial Market DataCurrent Information

455Latest Short Interest Ratio

Dividend Yield 2.03%# of Institutional Holders

2.21

1.62Market Cap

20.75

191.51M$33,656.67M

52-Week High$175.74

7.58%

$243.8020.83

(15-Oct-2010)Last Close

52-Week Low

1.56%

4.43

Price/Cash Flow Ratio

Price/Sales Ratio

Price/Earnings RatioPrice/Book Ratio

Return on Assets

% Owned by InstitutionsLatest Net Insider Transactions

Long-Term Debt/Equity

Return on Equity

(1,194)

0.2325.68%

1.35$138.42

Shares Outstanding

60-Month Beta

Dividend Rate 4.00 Current Ratio 1.72

0.00%

12 MonthGrowth 36 Month 60 Month

22.92% 25.55%

(7.19%) 30.85% 45.32%3.38% 16.44% 23.00%

Revenue GrowthEPS GrowthDividend Growth


Historical Financials

Income Statement

Year Revenue ($ M) Net Income ($ M) Net Profit Margin Employees

Dec 2009 4,700.00 875.00 18.62% 8,629

Dec 2008 5,064.00 786.00 15.52% 5,341

Dec 2007 4,844.65 995.27 20.54% 5,500

Dec 2006 2,097.98 322.60 15.38% 5,113

Dec 2005 1,191.39 233.91 19.63% 2,151

Dec 2004 725.31 143.14 19.74% 1,020

Dec 2003 598.21 155.40 25.98% 973

Dec 2002 576.98 133.25 23.09% 909

Dec 2001 533.14 107.43 20.15% 804

Dec 2000 476.87 87.36 18.32% 727

200 Year-End Financials

Debt Ratio 14.11%Return on Equity 7.58%Cash ($ M) 4,708.00Current Ratio 1.33Long-Term Debt ($ M) 3,434.00Shares Outstanding (M) 191.51Dividend Yield 2.03%Dividend Payout 0.51Market Cap ($ M) 44,469.51

Stock HistoryStock Price ($) P/E Per Share ($)

Year FY High FY Low FY Close High Low Earns. Div. Book Value

Dec 2009 241.66 88.91 232.20 39.55 14.55 6.11 3.12 127.03

Dec 2008 249.37 94.78 134.15 42.19 16.04 5.91 3.12 63.00

Dec 2007 224.54 139.20 216.80 29.82 18.49 7.53 2.68 60.55

Dec 2006 161.49 105.74 151.90 41.73 27.32 3.87 1.68 56.30

Dec 2005 113.87 69.38 108.48 32.53 19.82 3.50 1.20 4.82

Dec 2004 78.24 54.00 77.26 36.06 24.88 2.17 1.00 4.01

Dec 2003 53.63 39.59 53.11 22.72 16.78 2.36 0.40 3.72

Dec 2002 47.60 33.55 39.40 23.33 16.45 2.04 -- 3.31

Dec 2001 44.50 30.76 41.70 26.97 18.64 1.65 -- 2.54

Dec 2000 48.00 15.00 42.00 35.56 11.11 1.35 -- 1.92


Competitors List

CompanyGross Revenue Net Profit

Margin Net Operating Cash Flow

Allianz Global Investors -- -- --

Bank of New York Mellon $8,279.00M (4.27%) $3,781.00M

Charles Schwab $4,414.00M 14.18% $1,437.00M

Dimensional Fund Advisors -- -- --

Federated Investors $1,176.99M 19.39% $274.59M

Legg Mason (Top Competitor) $2,634.88M 7.50% $1,427.73M

Morgan Stanley $30,070.00M 12.13% ($45,951.00M)

Principal Global -- -- --

State Street (Top Competitor) $8,434.00M 20.63% ($4,269.00M)

UBS (Top Competitor) $39,931.96M 19.80% $52,502.41M

Waddell & Reed $839.09M 14.07% $155.18M


Competitive Landscape

Annual Sales ($ M)EmployeesMarket Cap ($ M)

BlackRock, Inc.

$4,700.00M8,629

$44,469.51M

Companies listed are Top Competitors.

Key Numbers

$2,458.84M

Legg Mason, Inc.

$2,634.88M3,890

$21,851.10M

State StreetCorporation

$8,434.00M27,000 65,233

UBS AG

$39,931.96M

$56,667.80M

Profitability

Gross Profit MarginPre-Tax Profit MarginNet Profit MarginReturn on EquityReturn on AssetsReturn on InvestedCapital

BlackRock, Inc.

55.82%31.59%21.28%7.58%1.56%6.71%

Legg Mason, Inc.

100.00%11.91%7.50%3.93%2.33%2.70%


--26.13%

20.63%12.44%

1.11%4.29%

UBS AG

--23.47%19.80%12.18%0.32%1.59%

Industry

42.24%23.36%

4.47%2.38%0.36%1.10%

Market

28.77%8.48%5.53%10.15%1.49%4.35%

Valuation

Price/Sales RatioPrice/Earnings RatioPrice/Book RatioPrice/Cash Flow Ratio

BlackRock, Inc.

4.4320.83

1.3520.75

Legg Mason, Inc.

1.8324.45

0.865.21


2.3511.381.254.84

UBS AG

2.6912.271.420.78

Industry

2.9524.10

1.579.84

Market

3.6927.03

7.1622.88

Operations

Days of SalesOutstandingInventory TurnoverDays Cost of Goods Soldin InventoryAsset TurnoverNet ReceivablesTurnover FlowEffective Tax Rate

BlackRock, Inc.

83.1

----

0.14.4

33.58%

Legg Mason, Inc.

57.0

----

0.36.4

36.55%


--

----

0.0--

21.05%

UBS AG

--

----

0.0--

6.70%

Industry

29.4

----

0.112.4

--

Market

34.7

8.145.1

0.310.5

37.91%

Financial

Current RatioQuick RatioLeverage RatioTotal Debt/ EquityInterest Coverage

BlackRock, Inc.

1.331.337.320.23

19.28

Legg Mason, Inc.

2.452.341.47

0.244.04


----

10.902.00

--

UBS AG

----

32.694.79

--

Industry

1.461.736.740.94

34.19

Market

1.331.167.131.37

17.33


Per Share Data

Per Share DataDividend Per ShareCash Flow Per ShareWorking Capital Per ShareLong-Term Debt Per ShareBook Value Per ShareTotal Assets Per Share

BlackRock, Inc.

$39.65$3.56$8.48$8.50$17.93

$130.29$929.41

Legg Mason, Inc.

$16.87$0.13$5.94$9.79$7.53

$36.18$55.70


$17.06$0.04$8.27

--$17.61

$32.00$314.72

UBS AG

$6.74$0.00$23.15

--$34.64$12.73

$353.48

Industry

$9.80$0.65$2.94$1.31

$11.93$18.43

$115.38

Market

$7.60$0.25$1.22$0.64$4.06$3.91

$27.90

Growth

12-Month Revenue12-Month Net Income12-Month EPS Growth12-Month Dividend Growth36-Month Revenue Growth36-Month Net Income Growth36-Month EPS Growth36-Month Dividend Growth

BlackRock, Inc.

(7.19%)11.32%3.38%0.00%

30.85%39.46%16.44%22.92%

Legg Mason, Inc.

(21.52%)----

(87.50%)(15.35%)(31.89%)(33.46%)(47.09%)


(27.88%)----

(95.79%)6.91%

----

(63.16%)

UBS AG

(18.56%)------

(20.21%)------

Industry

(21.81%)----

(38.12%)1.48%

----

(11.11%)

Market

31.93%(27.66%)(49.98%)

--14.30%(5.61%)

(14.73%)--


BlackRock Report

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