BLK · NYQ · Financial Services
BlackRock, Inc.
Also onShortfallConsensus DriftCrosscheck
Implied value per share
USD 573.33
Market price
USD 1167.15
Implied upside
-50.9%
10-year forecast · Excess returns over book equity · Base case · Price 2026-11-02 · Accounts to 2025-12-31
NoteA financial, valued on excess returns over book equity.
Excess Returns
- Return on equity
- 14.6%
- Payout
- 55%
- Cost of equity
- 10.21%
| Line | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 | FY32 | FY33 | FY34 | FY35 |
|---|---|---|---|---|---|---|---|---|---|---|
| Opening book equity | USD 55.9bn | USD 59.3bn | USD 62.7bn | USD 66.1bn | USD 69.3bn | USD 72.4bn | USD 75.4bn | USD 78.2bn | USD 80.8bn | USD 83.1bn |
| Return on equity | 14.6% | 14.6% | 14.6% | 14.6% | 14.6% | 14.6% | 14.6% | 14.6% | 14.6% | 14.6% |
| Excess return | USD 2.4bn | USD 2.6bn | USD 2.7bn | USD 2.9bn | USD 3.0bn | USD 3.2bn | USD 3.3bn | USD 3.4bn | USD 3.5bn | USD 3.6bn |
| Present value | USD 2.2bn | USD 2.1bn | USD 2.0bn | USD 2.0bn | USD 1.9bn | USD 1.8bn | USD 1.7bn | USD 1.6bn | USD 1.5bn | USD 1.4bn |
| Book equity | USD 55.9bn |
| Present value of excess returns | USD 18.1bn |
| Terminal, growing at 2.50% | USD 18.3bn |
| Equity value | USD 92.2bn |
| Per share | USD 573.33 |
Discount Rate
| Risk-free rate | 4.89% | US 10-year Treasury (^TNX), 2026-11-02 |
| Equity risk premium | 4.23% | Damodaran, January 2026 |
| Beta | 1.256 | Reported 1.382, pulled toward 1.0 (Blume) |
| Cost of equity | 10.21% | Risk-free + beta x equity risk premium |
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Yahoo Finance and RBA data. General information, not advice. Methodology.