BlackRock's Q2: The King Does It Again

BlackRock delivered robust Q2 results with net inflows of $192B, driving AUM to a record $15.3T and accelerating organic asset growth. ETF business momentum remained strong. New product launches and inclusion in Trump accounts position BlackRock for continued inflow growth. Operating margin expanded to 45.9%, reflecting disciplined expense control and operating leverage, while share buybacks will increase to at least $550M per quarter. Despite strong fundamentals, BlackRock's forward P/E has contracted to 20.18, creating an attractive risk/reward; I reiterate my buy rating.

In mid April, I reiterated my buy rating on BlackRock, Inc. ( BLK ) for the third consecutive time. The firm showed off robust fundamentals with inflows being strong and organic base fee growth