Mission Statement, Vision, & Core Values (2024) of BlackRock, Inc. (BLK).

An Overview of BlackRock, Inc. (BLK)

General Summary of BlackRock, Inc. (BLK)

BlackRock, Inc., founded in 1988, has grown to become one of the world's largest asset management firms. As of June 30, 2024, BlackRock manages approximately $10.6 trillion in assets under management (AUM), a significant increase from $9.4 trillion in the previous year. The company offers a wide range of products and services, including investment management, risk management, and advisory services. Its client base encompasses institutional investors, financial professionals, and individual investors across various sectors.

In 2024, BlackRock's product offerings include:

• Equity and fixed income investments
• Multi-asset and alternative investments
• Exchange-traded funds (ETFs)
• Technology services through Aladdin

As of 2024, BlackRock reported record revenues primarily driven by strong demand for its ETF products and technology services.

Company's Financial Performance in the Latest Financial Reports

For the second quarter of 2024, BlackRock reported total revenue of $4.8 billion, up from $4.5 billion in the same period of 2023. The company's net income attributable to BlackRock for the same quarter was $1.5 billion, representing an increase of approximately 9.4% year-over-year. The diluted earnings per share (EPS) for the quarter were $9.99, compared to $9.06 in Q2 2023.

Key financial metrics for the six months ended June 30, 2024, include:

BlackRock's operating margin for the first half of 2024 was 36.6%, an increase from 35.1% in the previous year. The growth in revenue was driven by higher base fees, performance fees, and technology services revenue, reflecting an overall positive market environment and strategic investments in technology.

Introduction to BlackRock as a Leader in the Industry

BlackRock stands as a leader in the asset management industry, recognized for its innovative approach and robust product offerings. The firm has consistently ranked among the top asset managers globally, leveraging its extensive expertise in investment management and technology integration. As of June 30, 2024, BlackRock reported long-term net inflows of $178 billion, predominantly from its ETF products, which continue to attract significant investor interest.

The company’s commitment to sustainability and responsible investing has positioned it favorably in a market increasingly focused on environmental, social, and governance (ESG) criteria. BlackRock's proactive strategies have established it as a trusted partner for clients seeking to navigate complex financial landscapes, further solidifying its status as an industry leader.

Mission Statement of BlackRock, Inc. (BLK)

Mission Statement of BlackRock, Inc. (BLK)

BlackRock, Inc. (BLK) aims to help investors build better financial futures. The company's mission statement articulates its commitment to delivering innovative investment solutions and superior client service while maintaining a strong focus on sustainability and responsible investing. This mission is significant as it aligns with BlackRock's long-term goals and strategies, guiding its operations and decision-making processes.

Core Components of BlackRock's Mission Statement

1. Delivering Innovative Investment Solutions

BlackRock emphasizes the importance of innovation in its investment strategies. As of June 30, 2024, the company managed assets totaling $10.65 trillion, showcasing its capacity to provide diverse investment solutions across various asset classes. This includes:

• Equity: $5.83 trillion
• Fixed Income: $2.82 trillion
• Multi-Asset: $0.92 trillion
• Alternatives: $0.14 trillion

The significant assets under management (AUM) reflect BlackRock's strength in delivering innovative products tailored to meet client needs, including Exchange-Traded Funds (ETFs) that attracted net inflows of $150 billion in the last quarter .

2. Superior Client Service

BlackRock's mission includes a strong focus on superior client service. The company reported a net income of $3.06 billion for the first half of 2024, indicating its effectiveness in generating value for clients . The firm's client-centric approach is demonstrated through:

• Investment Advisory Revenue: $7.65 billion for the first half of 2024, reflecting the firm's commitment to providing tailored investment advice .
• Technology Services Revenue: $772 million, showcasing the integration of technology into client services .

BlackRock's dedication to client service is further illustrated by its diversified offerings and strategic focus on understanding and addressing client needs effectively.

3. Commitment to Sustainability and Responsible Investing

In 2024, BlackRock has reaffirmed its commitment to sustainability as a core component of its mission. The firm has integrated Environmental, Social, and Governance (ESG) factors into its investment processes, with over $3 trillion in sustainable assets under management. This commitment aligns with the growing demand for responsible investing options among clients .

The company’s proactive stance on sustainability is evidenced by:

• Net Zero Commitment: BlackRock aims to achieve net-zero greenhouse gas emissions across its investments by 2050.
• Investment in Renewable Energy: The firm has allocated significant resources towards renewable energy projects, enhancing its portfolio's sustainability profile.

This commitment to sustainable investing not only meets client expectations but also positions BlackRock as a leader in the industry, driving positive change within the financial sector.

Vision Statement of BlackRock, Inc. (BLK)

Vision Statement Overview

The vision statement of BlackRock, Inc. (BLK) as of 2024 emphasizes their commitment to delivering innovative investment solutions that empower clients and contribute to a sustainable financial future. This vision is supported by their strategic initiatives and operational goals, aligned with key metrics that reflect their growth and market position.

Client-Centric Approach

BlackRock's vision includes a strong focus on client needs, aiming to provide tailored investment strategies that meet diverse client requirements. As of June 30, 2024, the company reported:

This table illustrates BlackRock's substantial assets under management (AUM) and highlights their ability to attract and retain client investments across various segments.

Innovation and Technology Leadership

BlackRock's vision emphasizes leveraging technology to enhance investment capabilities. The integration of advanced analytics and data-driven insights into investment processes is crucial. The firm's technology services revenue for the six months ended June 30, 2024, reached:

• $772 million from technology services
• $395 million from technology-related advisory

These figures underscore BlackRock's commitment to innovation as a key component of their strategic vision.

Sustainability Commitment

As part of their vision, BlackRock aims to integrate sustainability into their investment processes. This commitment is reflected in their investment strategies that focus on environmental, social, and governance (ESG) factors. As of June 30, 2024, BlackRock's sustainability-related AUM was reported to be:

This data illustrates the significant scale of BlackRock's sustainable investment offerings and their alignment with global sustainability trends.

Global Reach and Diversification

BlackRock's vision also includes expanding their global footprint and diversifying investment offerings to meet the needs of international clients. As of June 30, 2024, the geographical distribution of AUM was as follows:

This table highlights BlackRock's extensive global presence and their strategy to serve a diverse range of clients across different regions.

Financial Performance Indicators

To support their vision, BlackRock focuses on maintaining strong financial health. For the three months ended June 30, 2024, the company reported:

• Total revenue of $4,805 million
• Operating income of $1,800 million
• Net income attributable to BlackRock of $1,495 million
• Diluted earnings per share of $9.99

These figures reflect BlackRock's robust financial performance, enabling them to invest in strategic initiatives that align with their vision.

Core Values of BlackRock, Inc. (BLK)

Client Centricity

BlackRock emphasizes its commitment to client-centricity, ensuring that the needs and interests of clients are at the forefront of its operations.

In 2024, BlackRock has introduced personalized investment solutions to enhance client engagement. The firm reported a total of $10.65 trillion in assets under management (AUM) as of June 30, 2024 . This reflects a strategic focus on understanding client needs, as demonstrated by their investment in technology platforms that provide tailored advice and insights.

Additionally, BlackRock’s iShares ETFs have seen an increase in net inflows, totaling $83.14 billion in the second quarter of 2024 , showcasing the effectiveness of their client-centered approach in attracting new investments.

Integrity

Integrity is a core value that BlackRock embodies through transparency and ethical practices in its operations.

In its financial disclosures, BlackRock maintains rigorous compliance with SEC regulations, reporting a net income of $3.07 billion for the first half of 2024 . This financial integrity is further supported by their commitment to sustainability, as the firm has pledged to achieve net-zero greenhouse gas emissions across its investments by 2050 .

Moreover, BlackRock has invested $1.2 billion in sustainable investment initiatives, underscoring its commitment to ethical investment practices .

Excellence

Excellence at BlackRock is reflected in its pursuit of high performance and innovation across its services.

The company reported a 37.5% operating margin in Q2 2024, demonstrating operational efficiency and excellence in managing costs . Furthermore, BlackRock’s technology platform, Aladdin, has been pivotal in driving innovation, with over 30% of clients using advanced analytics tools offered through the platform .

In terms of performance fees, BlackRock achieved $368 million in performance-based revenue for the first half of 2024 , indicating its success in delivering superior investment outcomes for clients.

Diversity and Inclusion

Diversity and inclusion are integral to BlackRock’s corporate culture, fostering a workplace that values varied perspectives.

As of 2024, BlackRock has implemented initiatives aimed at increasing workforce diversity, with women now representing 43% of its global workforce . The firm has also committed to achieving 50% gender diversity in its senior management by 2025 .

In its community outreach, BlackRock launched a $50 million fund to support minority-owned businesses, further reinforcing its dedication to fostering diversity .

Accountability

Accountability is a cornerstone of BlackRock’s operational framework, ensuring responsible management of client assets.

In 2024, BlackRock has enhanced its risk management protocols, with a focus on maintaining compliance with regulatory standards. The firm reported a decrease in accrued compensation and benefits by $937 million, reflecting disciplined financial management .

Additionally, BlackRock’s commitment to shareholder returns is evident through its dividend declaration of $10.20 per share in Q2 2024 , emphasizing accountability to its investors.