Block, Inc. XYZ
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.
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.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $24.19B | $24.12B | $21.92B | $17.53B | $17.66B | $9.50B | $4.71B | $3.30B | $2.21B | $1.71B |
| Cost of revenue | $13.83B | $15.23B | $14.41B | $11.54B | $13.24B | $6.76B | $2.82B | $1.99B | $1.37B | $1.13B |
| Gross profit | $10.36B | $8.89B | $7.50B | $5.99B | $4.42B | $2.73B | $1.89B | $1.30B | $839.3M | $576.0M |
| R&D | $2.91B | $2.91B | $2.72B | $2.14B | $1.38B | $881.8M | $674.2M | $497.5M | $321.9M | $268.5M |
| SG&A | $2.00B | $2.15B | $2.21B | $1.69B | $982.8M | $579.2M | $436.9M | $339.2M | $250.6M | $252.0M |
| Total operating expenses | $8.65B | $8.00B | $7.78B | $6.62B | $4.26B | $2.75B | $1.86B | $1.34B | $893.5M | $746.5M |
| Operating income | $1.71B | $892.3M | -$278.8M | -$624.5M | $161.1M | -$18.8M | $26.6M | -$36.6M | -$54.2M | -$170.5M |
| Interest expense | — | — | $47.2M | $36.2M | $33.1M | $56.9M | $44.9M | $37.8M | $10.1M | $533.0K |
| Pre-tax income | $1.69B | $1.36B | -$29.1M | -$565.3M | $157.5M | $216.0M | $378.2M | -$36.1M | -$62.7M | -$169.7M |
| Income tax | $385.7M | $1.51B | $8.0M | $12.3M | $1.4M | $2.9M | $2.8M | $2.3M | $149.0K | $1.9M |
| Net income | $1.31B | $2.90B | $9.8M | -$540.7M | $166.3M | $213.1M | $375.4M | -$38.5M | -$62.8M | -$171.6M |
| EPS, basic | 2.13 | 4.70 | 0.02 | -0.93 | 0.36 | 0.48 | 0.88 | -0.09 | -0.17 | -0.50 |
| EPS, diluted | 2.10 | 4.56 | 0.02 | -0.93 | 0.33 | 0.44 | 0.81 | -0.09 | -0.17 | -0.50 |
| Shares, diluted (wtd. avg.) | $622.8M | $636.4M | $614.0M | $578.9M | $501.8M | $482.2M | $466.1M | $405.7M | $379.3M | $341.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $6.56B | $8.08B | $5.00B | $8.44B | $6.98B | $4.79B | $1.54B | $866.9M | $735.1M | $488.7M |
| Short-term investments | — | — | — | $1.08B | $869.3M | $695.1M | $492.5M | $541.0M | $169.6M | $59.9M |
| Receivables | $238.2M | $148.9M | $134.8M | $140.5M | $89.7M | $42.0M | $33.9M | $22.4M | $8.6M | $6.2M |
| Inventory | $158.3M | $105.0M | $110.1M | $97.7M | $77.1M | $61.1M | $47.7M | $28.6M | $16.8M | $13.7M |
| Total current assets | $22.86B | $19.88B | $17.82B | $15.62B | $11.62B | $7.76B | $3.22B | $2.11B | $1.78B | $1.00B |
| Property, plant and equipment | $323.4M | $314.4M | $296.1M | $329.3M | $282.1M | $233.5M | $149.2M | $142.4M | $91.5M | $88.3M |
| Goodwill | $11.85B | $11.42B | $11.92B | $11.97B | $519.3M | $316.7M | $266.3M | $261.7M | $58.3M | $57.2M |
| Other intangibles | $1.28B | $1.43B | $1.76B | $2.01B | $257.0M | $137.6M | $69.1M | $77.1M | $14.3M | $19.3M |
| Total assets | $39.55B | $36.78B | $33.03B | $31.36B | $15.03B | $9.87B | $4.55B | $3.28B | $2.19B | $1.21B |
| Accounts payable | $114.6M | $118.0M | $142.6M | $95.8M | $82.2M | $47.1M | $42.1M | $36.4M | $16.8M | $12.6M |
| Short-term debt | — | — | — | — | $455.0K | $0 | — | — | — | — |
| Total current liabilities | $10.38B | $8.55B | $8.88B | $8.43B | $6.54B | $4.13B | $1.69B | $1.02B | $972.8M | $577.5M |
| Long-term debt | — | — | — | $4.11B | $4.56B | $2.59B | $938.8M | $899.7M | $358.6M | $0 |
| Total liabilities | $17.38B | $15.54B | $14.34B | $14.11B | $11.71B | $7.19B | $2.84B | $2.16B | $1.40B | $635.2M |
| Retained earnings | $3.67B | $2.37B | -$528.4M | -$568.7M | -$28.0M | -$297.2M | -$510.3M | -$885.8M | -$842.7M | -$779.2M |
| Total equity | $22.20B | $21.27B | $18.69B | $17.25B | $3.31B | $2.68B | $1.72B | $1.12B | $786.3M | $576.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.58B | $1.71B | $101.0M | $175.9M | $847.8M | $173.1M | $327.6M | $295.1M | $127.7M | $23.1M |
| Depreciation and amortisation | $369.5M | $376.1M | $408.6M | $340.5M | $134.8M | $84.2M | $75.6M | $61.0M | $37.3M | $37.7M |
| Stock-based compensation | $1.22B | $1.27B | $1.28B | $1.07B | $608.0M | $397.8M | $297.9M | $216.9M | $155.8M | $138.8M |
| Capital expenditure | $155.0M | $153.9M | $151.2M | $170.8M | $134.3M | $138.4M | $62.5M | $61.2M | $26.1M | $25.4M |
| Investing cash flow | -$2.80B | $650.0M | $683.2M | $1.23B | -$1.31B | -$606.6M | $95.2M | -$905.8M | -$340.6M | -$114.2M |
| Financing cash flow | -$613.1M | $1.95B | -$240.1M | $97.6M | $2.65B | $3.68B | $243.4M | $515.8M | $454.9M | $90.7M |
| Buybacks | $2.33B | $1.17B | $156.8M | $0 | $0 | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-027203.
Others in SIC 7372
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| MSFT | MICROSOFT CORP | $3.71T | 27.8x | 17.8% |
| ORCL | ORACLE CORP | $457.36B | 27.2x | 17.3% |
| PLTR | Palantir Technologies Inc. | $418.36B | 276.7x | 56.2% |
| CRWD | CrowdStrike Holdings, Inc. | $218.20B | — | 21.7% |
| CRM | Salesforce, Inc. | $213.35B | 33.2x | 9.6% |
| SHOP | SHOPIFY INC. | $187.92B | 154.4x | 30.1% |
| NOW | ServiceNow, Inc. | $146.06B | 84.6x | 20.9% |
| SNOW | Snowflake Inc. | $118.96B | — | 29.2% |