BlackRock Q4 2025 earnings report is out, with an impressive overall performance. Adjusted earnings per share reached $13.16, surpassing the expected $12.28; revenue was $7.01B, also exceeding the forecast of $6.78B. More notably, assets under management (AUM) reached $14.04T, slightly higher than the estimated $13.94T.

The most eye-catching data is on net inflows—$341.71B in net inflows, significantly exceeding the expected $287.49B, indicating that institutional funds continue to accelerate their deployment. In terms of base fees and securities lending income, they achieved $5.28B, roughly in line with the expected $5.31B.

This performance reflects a strong recovery in the global asset management market, especially with institutional investors' ongoing demand for diversified asset allocation, including emerging investment categories related to digital assets, all driving the acceleration of this round of capital inflows.