BlackRock Investor Day Presentation Deck
BlackRock has delivered differentiated organic base fee growth
across various market environments...
S&P 500 Returns
Organic base
fee growth¹
YOY as adj.
margin A (bps)2,3
30%
BlackRock
5%
2013
100
11%
6%
2014
150
(1)%
6%
2015
10%
1%
2016
90
19%
7%
2017
30
(6)%
2%
2018
150
29%
5%
2019
(10)
16%
7%
2020
50
27%
11%
2021
80
(19)%
Avg: 5%
Note: 2012-2017 operating margin, as adjusted, do not reflect the updated definition effective beginning in 1Q22. Periods subsequent to 2017 reflect the updated definition of operating margin, as adjusted. For further information and
reconciliation between GAAP and as adjusted operating margin, see the previously filed Form 10-Ks, 8-Ks, earnings releases and the presentation appendix on slides 137. For footnoted information, refer to slide 136.
I
0%
2022
(400)
I
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