BLK FY 2008 Earnings Report — BlackRock, Inc. Revenue & Financial Results | Market Cap Arena

BlackRock, Inc.BLK

FY 2008 Earnings

Reported February 27, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$5.1B	—	$5.4B	—	-5.6%
Op. Income	$1.0B	—	$2.0B	—	-48.2%
Gross Margin	88.2%	—	80.1%	—	8.1pp
Net Margin	15.5%	—	18.6%	—	-3.0pp
EPS (Diluted)	$5.89	—	$7.53	—	-21.8%
Free Cash Flow	$1.8B	—	$476M	—	286.2%

Revenue Flow

Item	Amount
REVENUE	$5.1B
Cost of Revenue	$597M
GROSS PROFIT	$4.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.3B
SG&A Expenses	$1.3B
Other Expenses	$1.5B
Operating Expenses	$2.9B
Cost & Expenses	$3.5B
OPERATING INCOME	$1.0B
Interest Income	$65M
Interest Expense	$69M
Other Income/Expenses	$3M
INCOME BEFORE TAX	$1.0B
Income Tax Expense	$387M
Net Income from Continuing Ops	$629M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$786M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$784M
D&A	$230M
EBIT	$1.0B
EBITDA	$1.2B
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$5.1B
Cost of Revenue	$597M
GROSS PROFIT	$4.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.3B
SG&A Expenses	$1.3B
Other Expenses	$1.5B
Operating Expenses	$2.9B
Cost & Expenses	$3.5B
OPERATING INCOME	$1.0B
Interest Income	$65M
Interest Expense	$69M
Other Income/Expenses	$3M
INCOME BEFORE TAX	$1.0B
Income Tax Expense	$387M
Net Income from Continuing Ops	$629M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$786M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$784M
D&A	$230M
EBIT	$1.0B
EBITDA	$1.2B
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$786M
Depreciation & Amortization	$232M
Stock-Based Compensation	$278M
Deferred Income Tax	-$232M
Other Non-Cash Items	$741M
Change in Working Capital	$111M
OPERATING CASH FLOW	$1.9B
Capital Expenditure	-$77M
Acquisitions (Net)	-$34M
Purchases of Investments	-$420M
Sales/Maturities of Investments	$122M
Other Investing Activities	$15M
NET CASH FROM INVESTING	-$394M
Net Debt Issuance	-$304M
Common Stock Repurchased	-$46M
Common Dividends Paid	-$419M
Other Financing Activities	-$124M
NET CASH FROM FINANCING	-$887M
FREE CASH FLOW	$1.8B
Net Change in Cash	$376M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.0B
Short-Term Investments	$0
Net Receivables	$1.2B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.2B
PP&E (Net)	$260M
Goodwill	$5.5B
Intangible Assets	$6.4B
Long-Term Investments	$1.4B
Tax Assets	$0
Other Non-Current Assets	$3.0B
TOTAL NON-CURRENT ASSETS	$16.7B
TOTAL ASSETS	$19.9B
Account Payables	$545M
Short-Term Debt	$200M
Deferred Revenue	$0
Other Current Liabilities	$826M
TOTAL CURRENT LIABILITIES	$1.7B
Long-Term Debt	$942M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$1.8B
Other Non-Current Liabilities	$2.9B
TOTAL NON-CURRENT LIABILITIES	$5.7B
TOTAL LIABILITIES	$7.4B
Common Stock	$1M
Additional Paid-In Capital	$10.5B
Retained Earnings	$2.0B
Treasury Stock	-$58M
Accum. Other Comp. Income	-$186M
Other Equity	-$143M
TOTAL STOCKHOLDERS' EQUITY	$12.1B
Minority Interest	$491M
TOTAL EQUITY	$12.6B
TOTAL LIABILITIES & EQUITY	$19.9B
Total Debt	$1.1B
Net Debt	-$890M