BlackRock vs. Invesco: Financial Giants Face Off on Revenue Growth and Stability
Key Points
BlackRock has a larger overall footprint and stronger revenue generation, recording substantially higher total figures than Invesco throughout the charted periods.
BlackRock experienced higher quarter-over-quarter volatility alongside a general upward trajectory over the last eight periods, while Invesco maintained a flatter, much more stable quarter-over-quarter revenue trend.
Investors analyzing the two companies should carefully watch whether the expanding revenue gap continues to widen or begins to narrow in upcoming quarters.
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BlackRock: A trajectory of revenue growth
BlackRock (NYSE:BLK) primarily generates revenue by providing investment and global risk management services to institutional and individual investors.
While expanding its digital asset suite with a new exchange-traded fund, it reported approximately 33% net income margin for the quarter ended March 31, 2026.
Invesco: Maintaining steady revenue levels
Invesco (NYSE:IVZ) operates as a publicly owned investment manager offering portfolio management and mutual funds to diverse clients globally.
It completed the divestiture of its Canadian investment fund assets and generated approximately 15% net income margin for the quarter ended March 31, 2026.
Why revenue matters for investors
Revenue here refers to the data provider's standardized income-statement revenue line item, which for banks in this data set is defined as interest income plus non-interest income and is not net of interest expense. It helps investors measure the total cash coming in before any operating costs are deducted.
Quarterly Revenue for BlackRock and Invesco
| Quarter (Period End) | BlackRock Revenue | Invesco Revenue |
|---|---|---|
| Q2 2024 (June 2024) | $4.8 billion | $1.5 billion |
| Q3 2024 (Sept. 2024) | $5.2 billion | $1.5 billion |
| Q4 2024 (Dec. 2024) | $5.7 billion | $1.6 billion |
| Q1 2025 (March 2025) | $5.3 billion | $1.5 billion |
| Q2 2025 (June 2025) | $5.4 billion | $1.5 billion |
| Q3 2025 (Sept. 2025) | $6.5 billion | $1.6 billion |
| Q4 2025 (Dec. 2025) | $7.0 billion | $1.7 billion |
| Q1 2026 (March 2026) | $6.8 billion | $1.7 billion |
Data source: Company filings. Data as of June 23, 2026.
Foolish take
For investment managers like BlackRock and Invesco, revenue is typically earned as a percentage of assets under management (AUM). BlackRock, the world’s largest asset manager, maintains $14 trillion in assets globally. Invesco weighs in at about $2.5 trillion. So despite the smaller numbers, Invesco appears to be generating more revenue as a percentage of its AUM than BlackRock is.
But the other obvious takeaway is BlackRock’s more pronounced, if uneven, revenue growth. Over the quarters measured above, BlackRock delivered 41% revenue growth compared to Invesco’s 13%. Now, it isn’t always in a straight line: Revenue tends to retreat early in the year before rising as the year goes on, but the investment manager seems to end every year stronger than the last.
For investors looking to add a financial holding to their portfolio, both BlackRock and Invesco could be compelling options. BlackRock’s massive size comes from its dominance over the global ETF market via its iShares funds, while Invesco focuses on actively managed funds and the tech-heavy Nasdaq-100 market. Pay attention to both investment managers’ revenue growth rates and also their operating costs to get a fuller picture of their financial health and future potential.
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Sarah Sidlow has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends BlackRock. The Motley Fool has a disclosure policy.
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