黑Rock與Schwab財報解析：資產管理引擎與銀行混合體的股息可持續性

Business Driver

BlackRock

Charles Schwab

Primary Revenue Engine

Asset management fees

Net interest income

Q1 Net Inflows

$130 billion

$140 billion core net new assets

Quarterly Dividend

$5.73/share (+10%)

$0.32/share (+19%)

Adjusted Operating Margin

44.5%

49.2% pre-tax

Schwab's story differs but compels equally.

The analyst who called NVIDIA in 2010 just named his top 10 AI stocks. Get them here FREE.

BlackRock's quarter was built on scale and momentum. Total AUM reached $13.89 trillion, up 20% year over year, powered by a fee model that grows as markets and client relationships expand.

iShares ETFs posted record Q1 net inflows of $132 billion and doubled net new base fees compared to a year ago, a signal that clients are routing capital toward BlackRock's index products. The HPS acquisition added muscle in private credit, contributing roughly $230 million in fees.

Business Driver

BlackRock

Charles Schwab

Primary Revenue Engine

Asset management fees

Net interest income

Q1 Net Inflows

$130 billion

$140 billion core net new assets

Quarterly Dividend

$5.73/share (+10%)

$0.32/share (+19%)

Adjusted Operating Margin

44.5%

49.2% pre-tax

Schwab's story differs but compels equally.

The analyst who called NVIDIA in 2010 just named his top 10 stocks. Get them here FREE.

BlackRock's quarter was built on scale and momentum. Total AUM reached $13.89 trillion, up 20% year over year, powered by a fee model that grows as markets and client relationships expand.

iShares ETFs posted record Q1 net inflows of $132 billion and doubled net new base fees compared to a year ago, a signal that clients are routing capital toward BlackRock's index products. The HPS acquisition added muscle in private credit, contributing roughly $230 million in fees.

Business Driver

BlackRock

Charles Schwab

Primary Revenue Engine

Asset management fees

Net interest income

Q1 Net Inflows

$130 billion

$140 billion core net new assets

Quarterly Dividend

$5.73/share (+10%)

$0.32/share (+19%)

Adjusted Operating Margin

44.5%

49.2% pre-tax

Schwab's story differs but compels equally.

The analyst who called NVIDIA in 2010 just named his top 10 stocks. Get them here FREE.

BlackRock's quarter was built on scale and momentum. Total AUM reached $13.89 trillion, up 20% year over year, powered by a fee model that grows as markets and client relationships expand.

iShares ETFs posted record Q1 net inflows of $132 billion and doubled net new base fees compared to a year ago, a signal that clients are routing capital toward BlackRock's index products. The HPS acquisition added muscle in private credit, contributing roughly $230 million in fees.

Charles Schwab reported net interest revenue rising 16% to $3.14 billion as deposit costs fell sharply, with daily average trading volume hitting a record 9.9 million, up 34% year over year.

The HPS acquisition added muscle in private credit, contributing roughly $230 million in fees.

Schwab's story differs but compels equally.

The analyst who called NVIDIA in 2010 just named his top 10 stocks. Get them here FREE.

BlackRock's quarter was built on scale and momentum. Total AUM reached $13.89 trillion, up 20% year over year, powered by a fee model that grows as markets and client relationships expand.

iShares ETFs posted record Q1 net inflows of $132 billion and doubled net new base fees compared to a year ago, a signal that clients are routing capital toward BlackRock's index products. The HPS acquisition added muscle in private credit, contributing roughly $230 million in fees.

<hapabapa / iStock Editorial via Getty Images>

BlackRock's dividend is anchored by a fee engine that has compounded for over two decades. The quarterly payout has grown from $0.20 per share in 2003 to $5.73 in Q1 2026, maintained through the 2008 financial crisis without a cut. The annualized run rate now stands at $22.92 per share, yielding approximately 2.2% at the current price of $1,042.85.



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