BlackRock, Inc. (BLK) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, my name is Jennifer and I will be your conference facilitator today. At this time, I'd like to welcome During this time, simply press star, then the number 1 on your telephone keypad. If you'd like to withdraw your question, please press star 2. Thank you. Mr. Mead, you may begin your conference. Good morning, everyone. I'm Chris Mead, the General Counsel of BlackRock. Before we begin, I'd like to remind you that during the course of this call, we may make a number of forward-looking statements. We call your attention to the fact that BlackRock's actual results may, of course, differ from these statements. As you know, BlackRock has filed reports with the FCC, which lists some of the factors that may cause the results of BlackRock to differ materially from what we see today. BlackRock assumes no duty and does not undertake to update any forward-looking systems. So with that, I'll turn it over to Martin. Thanks, Chris. Good morning, and Happy New Year to everyone. It's my pleasure to present results for the fourth quarter and full year 2025. Before I turn it over to Larry, I'll review our financial performance and business results. Our earnings release discloses both GAAP and As Adjusted financial results. A reconciliation between GAAP and our As Adjusted results is included in today's press release. I'll be focusing primarily on our As Adjusted results. We're closing out one of the strongest years in our history. Clients awarded us nearly 700 billion in net new assets, 9% organic base fee growth, and 16% technology ACV expansion. Our whole portfolio strategy is winning both mind and wallet share with clients. It's bringing even more momentum to the breadth of our organic growth. We had nearly 150 products across our ETF and mutual fund ranges with over ...