Block (XYZ)
Financials · $46.6B market cap · SEC CIK 0001512673
fundamentals score out of 100
Next reports on Nov 4, 2026, after the close, with analysts expecting $1.03 in earnings per share.
The case for XYZ
- Has compounded revenue at 20.6% a year over five years.
The case against
- Very expensive at 130.5× earnings. Years of growth are already in the price.
- Earnings per share down 88.0%.
- Return on equity of only 2%.
- Swings harder than the market (beta 2.61).
- Growth is slowing: revenue up 5.1% this year against 20.6% a year over five.
- Net margin of 1.4% leaves very little room for error.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Financials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 26 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 41 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 19 |
| Momentumhow the price has behaved lately | 61 |
| Stabilityhow violently it moves, what it owes and what it pays you | 24 |
- Its debt and cash flow are not scored, as for every company in the Financials sector: for banks, insurers and brokers, borrowing is the business.
- Each factor except momentum is half fixed thresholds, half rank among the 74 Financials companies.
Key numbers
| Price / earnings | 130.5× |
|---|---|
| Price / book | 2.05× |
| Price / sales | 1.9× |
| Revenue growth (YoY) | +5.1% |
| EPS growth (YoY) | -88.0% |
| Gross margin | 46% |
| Operating margin | 5% |
| Net margin | 1% |
| Return on equity | 2% |
| Debt / equity | 0.31× |
| Current ratio | 2.21 |
| Dividend yield | none |
| Beta | 2.61 |
| 52-week range | $48.21 – $86.92 |
| Position in that range | 76% of the way up |
| 3-month return | +4.2% |
| 1-year return | +1.1% |
Five years of financials, as filed
Pulled from Block's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $24.2B | $24.1B | $21.9B | $17.5B | $17.7B |
| Gross profit | $10.4B | $8.9B | $7.5B | $6.0B | $4.4B |
| Operating income | $1.7B | $892M | -$279M | -$625M | $161M |
| Net income | $1.3B | $2.9B | $9.8M | -$541M | $166M |
| Operating cash flow | $2.6B | $1.7B | $101M | $176M | $848M |
| Capital expenditure | $155M | $154M | $151M | $171M | $134M |
| Total assets | $39.5B | $36.8B | $33.0B | $31.4B | $15.0B |
| Total liabilities | $17.4B | $15.5B | $14.3B | $14.1B | $11.7B |
| Shareholder equity | $22.2B | $21.3B | $18.7B | $17.2B | $3.3B |
| Cash | $6.6B | $8.1B | $5.0B | $4.5B | $4.4B |
| Long-term debt | $7.3B | $6.1B | $4.1B | $4.1B | $4.6B |
| Free cash flow | $2.4B | $1.6B | -$50.2M | $5.1M | $714M |
| Gross margin | 42.8% | 36.9% | 34.2% | 34.2% | 25.0% |
| Operating margin | 7.1% | 3.7% | -1.3% | -3.6% | 0.9% |
| Net margin | 5.4% | 12.0% | 0.0% | -3.1% | 0.9% |
| Diluted shares | 623M | 636M | 614M | 579M | 502M |
Share count is up 24.1% over 4 years. Your slice has been diluted.
What Block says it does
Our Purpose At Block, Inc. (together with its subsidiaries, "Block" or "we"), we are building technology that enables people and businesses to participate more fully in the economy. Our purpose is economic empowerment, helping individuals and businesses manage, move, and grow their money through simple and connected tools. Our Ecosystems Block designs and operates connected ecosystems that integrate commerce solutions, financial services, software, hardware, and networks to serve individuals and small businesses, primarily through Cash App's consumer network and Square's business ("seller") network. Our platform integrates payments, banking, lending, and commerce solutions designed to provide secure, reliable, and scalable financial infrastructure. We apply data, automation, and AI to improve the speed, accuracy, and usability of our products. Our ecosystem strategy connects these capabilities across both sellers and consumers. The…
Risk factors XYZ lists in its 10-K
- Key Operating Metrics and Non-GAAP Financial Measures
- Components of Results of Operations
- Amortization of Acquired Technology Assets
- General and Administrative Expenses
- Transaction, Loan, and Consumer Receivable Losses
- Amortization of Customer and Other Acquired Intangible Assets
- Remeasurement Loss (Gain) on Bitcoin Investment
- Provision for (Benefit from) Income Taxes
- Revenue (in thousands, except for percentages)
- Cost of Revenue (in thousands, except for percentages)
- Operating Expenses (in thousands, except for percentages)
- Interest Expense (Income), Net (in thousands, except for percentages)
- Remeasurement Loss (Gain) on bitcoin investment (in thousands, except for percentages)
- Other Expense (Income), Net (in thousands, except for percentages)