AMP vs BLK: Ameriprise Financial and BlackRock compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- BlackRock is the larger company, worth $163.5B, about 3.6 times Ameriprise Financial.
- BlackRock grew revenue faster over the last year (+30.6% vs +11.7%).
- BlackRock keeps more of each dollar of revenue as operating profit (32.6% vs 27.2%).
- On earnings, Ameriprise Financial is the cheaper stock (12.5x vs 26.5x).
- BlackRock's price assumes faster free cash flow growth: about 16% a year, against -12% for Ameriprise Financial (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | AMP | BLK |
|---|---|---|
| Market cap | $45.1B | $163.5B |
| Share price | $500.51 | $1,065.35 |
| Revenue (last fiscal year) | $18.9B | $24.2B |
| Free cash flow (last fiscal year) | $8.2B | $3.6B |
| Revenue growth, last year | +11.7% | +30.6% |
| Revenue growth per year, last 5 fiscal years | +9.0% | +5.7% |
| Operating margin | 27.2% | 32.6% |
| Net margin | 19.9% | 24.1% |
| Return on equity | 62.0% | 11.4% |
| P/E (trailing) | 12.5x | 26.5x |
| Price / free cash flow | 15.6x | 46.0x |
| EV / EBITDA | 8.41x | 14.8x |
| FCF growth the price implies | -12.5% | 15.9% |
| Dividend yield | 1.3% | 2.0% |
| Debt / equity | 30.1x | 1.93x |
| Fundamental grade | C | B |
| Superinvestors holding it | 7 | 10 |
| Insider purchases, last 12 months | 6 | 8 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Ameriprise Financial
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $13.4B | $3.2B | 31.3% |
| 2022 | $14.3B | $4.2B | 28.0% |
| 2023 | $16.1B | $4.5B | 23.6% |
| 2024 | $17.9B | $6.4B | 27.5% |
| 2025 | $18.9B | $8.2B | 26.1% |
BlackRock
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $19.4B | $4.6B | 38.5% |
| 2022 | $17.9B | $4.4B | 35.7% |
| 2023 | $17.9B | $3.8B | 35.1% |
| 2024 | $20.4B | $4.7B | 37.1% |
| 2025 | $24.2B | $3.6B | 29.1% |
Where the revenue comes from
Ameriprise Financial · by segments, 2025
Retirement & Protection Solutions$397M99%
Corporate & Other$3M1%
BlackRock · by products, 2025
Investment Advisory, Administration Fees and Securities Lending Revenue$19.2B79%
Technology Services and Subscription Revenue$2.0B8%
Investment Advisory Performance Fees$1.4B6%
Distribution Fees$1.4B6%
Advisory and Other Revenue$277M1%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open AMP in InvestinglyQuestions
Which is bigger, Ameriprise Financial or BlackRock?
BlackRock (BLK), at $163.5B against $45.1B.
Is AMP or BLK cheaper?
By trailing P/E, Ameriprise Financial (12.5x) is cheaper than BlackRock (26.5x). A lower multiple can also mean the market expects less growth.
Which grows faster, AMP or BLK?
BlackRock: revenue grew +30.6% over the last year, against +11.7%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.