Block, Inc. (SQ) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 24	$0.89	$0.88	-1.1%	—	$6B	—
Q2 24	$0.84	$0.93	+10.7%	—	$6.2B	—
Q1 24	$0.73	$0.85	+16.4%	—	$6B	—
Q4 23	$0.57	$0.45	-21.1%	—	$5.8B	—
Q3 23	$0.46	$0.55	+19.6%	—	$5.6B	—
Q2 23	$0.37	$0.39	+5.4%	—	$5.5B	—
Q1 23	$0.34	$0.4	+17.6%	—	$5B	—
Q4 22	$0.3	$0.22	-26.7%	—	$4.7B	—
Q3 22	$0.23	$0.42	+82.6%	—	$4.5B	—
Q2 22	$0.16	$0.18	+12.5%	—	$4.4B	—
Q1 22	$0.2	$0.18	-10.0%	—	$4B	—
Q4 21	$0.23	$0.27	+17.4%	—	$4.1B	—
Q3 21	$0.37	$0.37	0.0%	—	$3.8B	—
Q2 21	$0.31	$0.66	+112.9%	—	$4.7B	—
Q1 21	$0.16	$0.41	+156.2%	—	$5.1B	—
Q4 20	$0.24	$0.32	+33.3%	—	$3.2B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY24	—	—	—	—	$24.1B	—
FY23	—	$0.02	—	—	$21.9B	—
FY22	—	-$0.93	—	—	$17.5B	—
FY21	—	$0.36	—	—	$17.7B	—
FY20

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24
Revenue	$1.3B	$1.7B	$2.2B	$3.3B	$4.7B	$9.5B	$17.7B	$17.5B	$21.9B	$24.1B
YoY change	+49%	+34.9%	+29.6%	+49%	+42.9%	+101.5%	+86%	-0.73%	+25%	+10.1%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24
Revenue	1.3B	1.7B	2.2B	3.3B	4.7B	9.5B	17.7B	17.5B	21.9B	24.1B
Cost of revenue	897.1M	1.1B	1.4B	2B	2.8B	6.8B	13.2B	11.5B	14.4B	15.2B
Gross profit	370M	576M	839.3M	1.3B	1.9B	2.7B	4.4B	6B	7.5B	8.9B
Gross margin	29.2%	33.7%	37.9%	39.5%	40.1%	28.8%	25%	34.2%	34.2%	36.9%
Research & development	199.6M	268.5M	321.9M	497.5M	674.2M	885.7M	1.4B	2.1B	2.7B	2.9B
Selling, general & administrative	289.1M	425.9M	503.7M	750.4M	1.1B	1.7B	2.6B	3.7B	4.2B	4.1B
Operating expenses	542.7M	745.6M	892.6M	1.3B	1.9B	2.8B	4.2B	6.4B	6.9B	7B
Operating income	-120.4M	-119.2M	12.8M	51.5M	153.5M	158.9M	420.2M	-27.3M	381.8M	1.7B
Operating margin	-9.51%	-6.98%	0.58%	1.56%	3.26%	1.67%	2.38%	-0.16%	1.74%	6.99%
Non-operating income, net	-54M	-51M	-65.4M	-69.6M	246.2M	114.1M	-229.6M	-501.8M	-458.2M	-320.1M
Pretax income	-176.1M	-169.7M	-62.7M	-36.1M	378.2M	216M	157.5M	-565.3M	-29.1M	1.4B
Income tax	3.7M	1.9M	149K	2.3M	2.8M	2.9M	-1.4M	-12.3M	-8M	-1.5B
Net income	-179.8M	-171.6M	-62.8M	-38.5M	375.4M	213.1M	158.8M	-553M	-21.1M	2.9B
Net margin	-14.2%	-10%	-2.84%	-1.17%	7.97%	2.24%	0.9%	-3.15%	-0.1%	11.9%
EBITDA	-38.8M	-30.2M	117.1M	130.9M	228.8M	534.8M	814.1M	910.5M	1.5B	2.4B
EPS	-0.63	-0.5	-0.17	-0.09	0.88	0.48	0.36	-0.93	0.02	—
Diluted EPS	-0.63	-0.5	-0.17	-0.09	0.81	0.44	0.33	-0.93	0.02	—

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q1 22	Q2 22	Q3 22	Q4 22	Q1 23	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24
Revenue	4B	4.4B	4.5B	4.7B	5B	5.5B	5.6B	5.8B	6B	6.2B	6B	6B
Cost of revenue	2.7B	2.9B	2.9B	3B	3.3B	3.7B	3.7B	3.7B	3.9B	3.9B	3.7B	3.7B
Gross profit	1.3B	1.5B	1.6B	1.7B	1.7B	1.9B	1.9B	2B	2.1B	2.2B	2.2B	2.3B
Gross margin	32.7%	33.4%	34.7%	35.7%	34.4%	33.7%	33.8%	35.1%	35.2%	36.3%	37.6%	38.3%
Research & development	458.2M	524.8M	548M	604.5M	626.9M	694.7M	713.8M	685.4M	720.6M	713.2M	711M	769.7M
Selling, general & administrative	945.7M	926.5M	881.3M	991.3M	928.8M	1.1B	960.3M	1.3B	915.1M	981.1M	987.6M	1.2B
Operating expenses	1.5B	1.6B	1.6B	1.8B	1.7B	2B	1.9B	1.9B	1.6B	1.7B	1.7B	2B
Operating income	-135.6M	-21.1M	100.4M	29.1M	121.7M	47.7M	167.4M	45M	415.5M	498.4M	515.1M	257.6M
Operating margin	-3.42%	-0.48%	2.22%	0.62%	2.44%	0.86%	2.98%	0.78%	6.97%	8.1%	8.62%	4.27%
Non-operating income, net	-57.7M	-173.9M	-130.4M	-139.8M	-50.2M	-165.1M	-201.3M	42.3M	72.1M	-251.3M	-177.1M	36.3M
Pretax income	-209.1M	-208M	-36M	-112.2M	74.7M	-113.5M	-12.4M	106M	506.3M	248.9M	324.1M	277.8M
Income tax	-1.7M	1.3M	-17.3M	5.4M	-21.1M	-8.2M	81.1M	-51.8M	35.5M	59M	43M	-1.6B
Net income	-207.4M	-209.3M	-18.7M	-117.6M	95.8M	-105.4M	-93.5M	157.8M	470.8M	189.9M	281.1M	1.9B
Net margin	-5.24%	-4.75%	-0.42%	-2.53%	1.92%	-1.9%	-1.67%	2.73%	7.9%	3.08%	4.7%	31.9%
EBITDA	25.6M	262.4M	338.3M	144.4M	342.8M	322M	460.3M	326M	678.8M	787.1M	799.8M	170.2M
EPS	-0.38	-0.36	-0.02	—	-0.03	-0.2	-0.15	—	0.77	0.32	0.46	—
Diluted EPS	-0.38	-0.36	-0.02	—	-0.03	-0.2	-0.15	—	0.74	0.31	0.45	—

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	Current
Market cap	—	4.7B	—	22.8B	26.6B	96.4B	74B	—	47.1B	—	45.4B
Enterprise value	—	4.1B	—	22.3B	25.4B	94B	71.4B	—	44.1B	—	41.1B
Shares outstanding	334.9M	341.6M	379.3M	405.7M	425M	443.1M	458.4M	578.9M	608.9M	—	—

Valuation

Metric	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	Current
P/E	—	—	—	—	70.8	452.6	466.2	—	—	—	52.1
P/S	—	2.72	—	6.9	5.64	10.2	4.19	—	2.15	—	1.88
P/B	—	8.08	—	20.3	15.5	36	22.3	—	2.52	—	—
EV/EBITDA	—	-135.6	—	170.7	111.2	175.9	87.7	—	30.4	—	16.9
EV/Sales	—	2.4	—	6.78	5.4	9.9	4.04	—	2.01	—	1.7
Earnings yield	—	—	—	—	1.41%	0.22%	0.21%	—	—	—	1.92%
FCF yield	—	-0.06%	—	1.02%	1%	-0.02%	0.73%	—	-0.11%	—	13.3%

Profitability

Metric	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	Current
Gross margin	29.2%	33.7%	37.9%	39.5%	40.1%	28.8%	25%	34.2%	34.2%	36.9%	38.3%
Operating margin	-9.51%	-6.98%	0.58%	1.56%	3.26%	1.67%	2.38%	-0.16%	1.74%	6.99%	6.99%
Net margin	-14.2%	-10%	-2.84%	-1.17%	7.97%	2.24%	0.9%	-3.15%	-0.1%	11.9%	36.9%
ROE	-35.4%	-29.8%	-7.99%	-3.43%	21.9%	7.95%	4.79%	-3.21%	-0.11%	13.5%	13.6%
ROA	-20.1%	-14.2%	-2.87%	-1.17%	8.25%	2.16%	1.14%	-1.76%	-0.06%	7.79%	7.88%
ROIC	-323.2%	-577.4%	7.29%	7.24%	26.5%	55.2%	61.3%	-0.18%	2.42%	10.3%	10.3%
Return on tangible assets	-24.7%	-16.2%	-3.08%	-1.48%	9.68%	2.38%	1.28%	-16.3%	-0.31%	25.9%	25.9%

Financial health

Metric	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	Current
Current ratio	2.11	1.73	1.83	2.07	1.9	1.88	1.94	1.85	1.9	2.33	2.33
Quick ratio	2.08	1.71	1.81	2.05	1.87	1.87	1.92	1.84	1.89	2.31	2.31
Debt / equity	—	—	0.46	0.94	0.63	1.3	1.66	0.37	0.32	0.37	0
Debt / assets	—	—	0.16	0.32	0.24	0.35	0.4	0.2	0.18	0.22	0.22
Net debt / EBITDA	—	—	-5.21	-3.13	-4.99	-4.48	-3.23	-2.72	-2.03	-1.98	-1.98
Interest coverage	—	—	—	-1.01	18.6	4.79	12.7	-0.75	—	—	—
Effective tax rate	0%	0%	0%	0%	0.73%	1.33%	0%	0%	0%	0%	0%

Per share

Metric	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	Current
Revenue per share	3.78	5	5.84	8.13	11.1	21.4	38.5	30.3	36	—	—
EPS (basic)	-0.63	-0.5	-0.17	-0.09	0.88	0.48	0.36	-0.93	0.02	—	—
EPS (diluted)	-0.63	-0.5	-0.17	-0.09	0.81	0.44	0.33	-0.93	0.02	—	—
Book value per share	1.52	1.69	2.07	2.76	4.04	6.05	7.23	29.8	30.7	—	—
FCF per share	-0.05	-0.01	0.27	0.57	0.62	-0.03	1.19	0.01	-0.08	—	9.76
Cash per share	1.41	1.63	2.55	3.59	5.21	13.3	17.8	15.2	14.8	—	—
Capex per share	0.11	0.07	0.07	0.15	0.15	0.31	0.29	0.3	0.25	—	—

Capital allocation

Metric	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	Current
Capex / revenue	2.95%	1.47%	1.18%	1.86%	1.33%	1.46%	0.76%	0.97%	0.69%	0.64%	0.64%
Capex / operating cash flow	-70.3%	-90.8%	68.2%	22.8%	12.9%	-20.1%	16.5%	84.2%	94.9%	7.6%	7.6%

Period	Q1 22	Q2 22	Q3 22	Q4 22	Q1 23	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24
Revenue	$4B	$4.4B	$4.5B	$4.7B	$5B	$5.5B	$5.6B	$5.8B	$6B	$6.2B	$6B	$6B
YoY change	-21.7%	-5.9%	+17.4%	+14%	+26%	+25.7%	+24.4%	+24.1%	+19.4%	+11.2%	+6.38%	+4.5%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24
Cash & short-term investments	470.8M	555.5M	969.1M	1.5B	2.2B	5.9B	8.1B	8.8B	9B	12.7B
Receivables	147.5M	327.3M	629.1M	387.3M	622.6M	1.1B	1.3B	4.4B	5.8B	3.7B
Inventory	11.9M	13.7M	16.8M	28.6M	47.7M	61.1M	77.1M	97.7M	110.1M	105M
Total current assets	705.6M	1B	1.8B	2.1B	3.2B	7.8B	10.5B	15.6B	18.9B	19.9B
Property, plant & equipment	87.2M	88.3M	91.5M	291.4M	262.3M	690.4M	731.5M	702.5M	540.8M	534.4M
Goodwill & intangibles	166.9M	152.9M	145.3M	677.6M	670.8M	908.6M	1.6B	28B	27.4B	25.7B
Total assets	894.8M	1.2B	2.2B	3.3B	4.6B	9.9B	13.9B	31.4B	34.1B	36.8B
Accounts payable	13.1M	51.2M	131.6M	90.6M	137.9M	286.5M	336.8M	558.4M	151M	118M
Short-term debt	—	—	—	—	27.3M	516.8M	562M	988.5M	806.8M	1.2B
Total current liabilities	334.2M	577.5M	972.8M	1B	1.7B	4.1B	5.4B	8.4B	9.9B	8.5B
Long-term debt	—	—	358.6M	1B	1B	3B	5B	5.3B	5.3B	6.7B
Total liabilities	386.7M	635.2M	1.4B	2.2B	2.8B	7.2B	10.6B	14.1B	15.4B	15.5B
Shareholders' equity	508M	576.2M	786.3M	1.1B	1.7B	2.7B	3.3B	17.3B	18.7B	21.2B
Total debt	—	—	358.6M	1B	1.1B	3.5B	5.5B	6.3B	6.1B	7.9B
Net debt	—	—	-440.9M	131.5M	-648.5M	-1.7B	-1.8B	-1.4B	-2.1B	-4.3B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q1 22	Q2 22	Q3 22	Q4 22	Q1 23	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24
Cash & short-term investments	8B	7.9B	8.4B	8.8B	9.9B	9.2B	9.2B	9B	10.4B	12B	12.8B	12.7B
Receivables	2.8B	2.9B	3.1B	4.4B	3.5B	3.8B	5.5B	5.8B	5.8B	6.1B	3.7B	3.7B
Inventory	72.3M	78.7M	103M	97.7M	101.7M	97.9M	96.4M	110.1M	119.4M	104.7M	118.1M	105M
Total current assets	11.9B	12.5B	13.5B	15.6B	15.9B	15.8B	17.5B	18.9B	20.5B	22.3B	20.8B	19.9B
Property, plant & equipment	758.2M	754.5M	741.9M	702.5M	676.4M	610.7M	585.3M	540.8M	533.6M	528.6M	549.5M	534.4M
Goodwill & intangibles	29.4B	28.3B	27.2B	28B	27.7B	27.6B	27.1B	27.4B	26.8B	26.9B	27.3B	25.7B
Total assets	29.1B	28.9B	29.1B	31.4B	31.3B	31.1B	32.6B	34.1B	35.6B	37.5B	36.4B	36.8B
Accounts payable	389M	389.6M	445.9M	558.4M	498.1M	412.7M	655.3M	151M	91.4M	112.7M	94.2M	118M
Short-term debt	196M	653.5M	561.6M	988.5M	828.4M	587.9M	104.7M	806.8M	1.5B	1.5B	1.2B	1.2B
Total current liabilities	6B	7B	7.3B	8.4B	8.7B	8.2B	9.2B	9.9B	12.5B	12.2B	10B	8.5B
Long-term debt	5B	4.4B	4.5B	5.3B	4.8B	4.7B	5.3B	5.3B	4B	5.9B	6.2B	6.7B
Total liabilities	11.7B	12B	12.6B	14.1B	13.9B	13.3B	14.7B	15.4B	16.6B	18.3B	16.4B	15.5B
Shareholders' equity	17.5B	16.9B	16.5B	17.3B	17.5B	17.8B	17.8B	18.7B	19B	19.3B	19.9B	21.2B
Total debt	5.2B	5.1B	5B	6.3B	5.7B	5.3B	5.4B	6.1B	5.4B	7.4B	7.4B	7.9B
Net debt	-2B	-1.8B	-2.3B	-1.4B	-3.2B	-2.8B	-2.6B	-2.1B	-4.4B	-4B	-4.8B	-4.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24
Net income	-179.8M	-171.6M	-62.8M	-38.5M	375.4M	213.1M	158.8M	-553M	-21.1M	2.9B
Depreciation & amortization	27.6M	37.7M	37.3M	61M	75.6M	84.2M	134.8M	340.5M	408.6M	376.1M
Stock-based compensation	82.3M	138.8M	155.8M	216.9M	297.9M	397.8M	608M	1.1B	1.3B	1.3B
Change in working capital	17.2M	8.7M	-65.8M	-58.2M	-355.1M	-1.4B	-221.4M	-599.9M	-685.3M	207.3M
Operating cash flow	-53.2M	-27.7M	38.3M	268.3M	484.5M	-689.8M	812.2M	202.8M	159.2M	2B
Capital expenditure	-37.4M	-25.1M	-26.1M	-61.2M	-62.5M	-138.4M	-134.3M	-170.8M	-151.2M	-153.9M
Investing cash flow	-43.8M	-122.3M	-340.6M	-904.3M	95.2M	-556.6M	-1.1B	1.2B	683.2M	650M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	0	0	-156.8M	-1.2B
Financing cash flow	250.9M	-5.7M	288.6M	269.8M	124.9M	3.7B	1.9B	-464.9M	-387.4M	1.8B
Net change in cash	153.9M	-155.7M	-13.8M	-366.2M	704.6M	2.5B	1.5B	963.6M	455M	4.5B
Free cash flow	-17.6M	-2.7M	101.6M	232.3M	265.1M	-15.3M	543.5M	5.1M	-50.2M	1.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q1 22	Q2 22	Q3 22	Q4 22	Q1 23	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24
Net income	-207.4M	-209.3M	-18.7M	-117.6M	95.8M	-105.4M	-93.5M	157.8M	470.8M	189.9M	281.1M	1.9B
Depreciation & amortization	70.1M	90.8M	88.7M	90.9M	93.2M	94.5M	115.5M	105.3M	97.6M	96.9M	92.7M	88.9M
Stock-based compensation	275.4M	256.6M	262.7M	276.5M	279.6M	319.3M	345.7M	331.6M	311.2M	320.6M	324.1M	316.9M
Change in working capital	-61.4M	-177M	-240.6M	-120.9M	-80.3M	-233.5M	300.8M	-664.1M	122.5M	36.5M	199.4M	-151M
Operating cash flow	279.2M	-155.7M	13.4M	65.9M	279.5M	111.9M	490.6M	-722.8M	488.3M	523M	681.8M	333.6M
Capital expenditure	-41.2M	-44.2M	-36.3M	-49.1M	-32.3M	-29.5M	-37.7M	-51.7M	-32M	-38.4M	-56.6M	-27M
Investing cash flow	1.1B	209.7M	165M	-279.6M	623.9M	-45M	-173.9M	278.2M	1B	-175M	105.7M	-323.2M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	0	0	0	—	-252.1M	-389.5M	-345.6M	-183.2M
Financing cash flow	-972.6M	-310.7M	352.7M	946.5M	-660.5M	-771.1M	-324M	897.2M	-778.1M	-1.1B	69.9M	640.8M
Net change in cash	437.1M	-256.7M	531M	732.8M	243M	-704.1M	-7.4M	452.6M	752.5M	-736.4M	857.4M	651.3M
Free cash flow	188.2M	-158.9M	-20.6M	-3.7M	262.1M	83.8M	453.5M	-849.6M	457.4M	481M	628.2M	-13.2M

Block, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement