Block, Inc. (XYZ) 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 %
Q2 26	$0.87	$1.02	+17.2%	—	$6.6B	—
Q1 26	$0.68	$0.85	+25.0%	—	$6.1B	—
Q4 25	$0.65	$0.65	0.0%	—	$6.3B	—
Q3 25	$0.66	$0.54	-18.2%	—	$6.1B	—
Q2 25	$0.67	$0.62	-7.5%	—	$6.1B	—
Q1 25	$0.93	$0.56	-39.8%	—	$5.8B	—
Q4 24	$0.87	$0.71	-18.4%	—	$6B	—
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	—

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 %
FY25	—	$2.13	—	—	$24.2B	—
FY24	—	$4.7	—	—	$24.1B	—
FY23	—	$0.02	—	—	$21.9B	—
FY22	—	-$0.93	—	—	$17.5B

Total revenue

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

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1.7B	$2.2B	$3.3B	$4.7B	$9.5B	$17.7B	$17.5B	$21.9B	$24.1B	$24.2B
YoY change	+34.9%	+29.6%	+49%	+42.9%	+101.5%	+86%	-0.73%	+25%	+10.1%	+0.3%

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	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1.7B	2.2B	3.3B	4.7B	9.5B	17.7B	17.5B	21.9B	24.1B	24.2B
Cost of revenue	1.1B	1.4B	2B	2.8B	6.8B	13.2B	11.5B	14.4B	15.2B	13.8B
Gross profit	576M	839.3M	1.3B	1.9B	2.7B	4.4B	6B	7.5B	8.9B	10.4B
Gross margin	33.7%	37.9%	39.5%	40.1%	28.8%	25%	34.2%	34.2%	36.9%	42.8%
Research & development	268.5M	321.9M	497.5M	674.2M	885.7M	1.4B	2.1B	2.7B	2.9B	2.9B
Selling, general & administrative	425.9M	503.7M	750.4M	1.1B	1.7B	2.6B	3.7B	4.2B	4.1B	4.3B
Operating expenses	745.6M	892.6M	1.3B	1.9B	2.8B	4.2B	6.4B	6.9B	7B	7.2B
Operating income	-119.2M	12.8M	51.5M	153.5M	158.9M	420.2M	-27.3M	381.8M	1.7B	3B
Operating margin	-6.98%	0.58%	1.56%	3.26%	1.67%	2.38%	-0.16%	1.74%	6.99%	12.6%
Non-operating income, net	-51M	-65.4M	-69.6M	246.2M	114.1M	-229.6M	-501.8M	-458.2M	-320.1M	-1.2B
Pretax income	-169.7M	-62.7M	-36.1M	378.2M	216M	157.5M	-565.3M	-29.1M	1.4B	1.7B
Income tax	1.9M	149K	2.3M	2.8M	2.9M	-1.4M	-12.3M	-8M	-1.5B	385.7M
Net income	-171.6M	-62.8M	-38.5M	375.4M	213.1M	158.8M	-553M	-21.1M	2.9B	1.3B
Net margin	-10%	-2.84%	-1.17%	7.97%	2.24%	0.9%	-3.15%	-0.1%	11.9%	5.39%
EBITDA	-30.2M	117.1M	130.9M	228.8M	534.8M	814.1M	910.5M	1.2B	2.4B	4.8B
EPS	-0.5	-0.17	-0.09	0.88	0.48	0.36	-0.93	0.02	4.7	2.13
Diluted EPS	-0.5	-0.17	-0.09	0.81	0.44	0.33	-0.93	0.02	4.56	2.1

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	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	5.6B	5.8B	6B	6.2B	6B	6B	5.8B	6.1B	6.1B	6.3B	6.1B	6.6B
Cost of revenue	3.7B	3.7B	3.9B	3.9B	3.7B	3.7B	3.5B	3.5B	3.5B	3.4B	3.1B	3.5B
Gross profit	1.9B	2B	2.1B	2.2B	2.2B	2.3B	2.3B	2.5B	2.7B	2.9B	2.9B	3.2B
Gross margin	33.8%	35.1%	35.2%	36.3%	37.6%	38.3%	39.7%	41.9%	43.5%	45.9%	48%	47.8%
Research & development	713.8M	685.4M	720.6M	713.2M	711M	769.7M	760.7M	725.3M	711.2M	710.7M	1B	608.7M
Selling, general & administrative	960.3M	1.3B	915.1M	981.1M	987.6M	1.2B	996.3M	999M	1.1B	1.1B	1.5B	1.5B
Operating expenses	1.9B	1.9B	1.6B	1.7B	1.7B	2B	1.8B	1.7B	1.9B	1.8B	2.5B	2.1B
Operating income	167.4M	45M	415.5M	498.4M	515.1M	257.6M	499M	778.4M	772.9M	995.4M	328.1M	1B
Operating margin	2.98%	0.78%	6.97%	8.1%	8.62%	4.27%	8.65%	12.9%	12.6%	15.9%	5.42%	15.6%
Non-operating income, net	-201.3M	42.3M	72.1M	-251.3M	-177.1M	36.3M	-254.7M	-95.3M	-136.7M	-739.6M	-667.5M	-675.1M
Pretax income	-12.4M	106M	506.3M	248.9M	324.1M	277.8M	227.1M	659.4M	601.5M	202M	-392.6M	301.5M
Income tax	81.1M	-51.8M	35.5M	59M	43M	-1.6B	38.3M	121M	139.9M	86.4M	-84M	214.4M
Net income	-93.5M	157.8M	470.8M	189.9M	281.1M	1.9B	188.7M	538.3M	461.6M	115.6M	-308.6M	87.1M
Net margin	-1.67%	2.73%	7.9%	3.08%	4.7%	31.9%	3.27%	8.89%	7.55%	1.85%	-5.09%	1.32%
EBITDA	460.3M	326M	678.8M	787.1M	799.8M	170.2M	596.3M	952.7M	1.2B	1.8B	429.5M	1.8B
EPS	-0.15	—	0.77	0.32	0.46	—	0.31	0.88	0.76	—	-0.52	0.15
Diluted EPS	-0.15	—	0.74	0.31	0.45	—	0.3	0.87	0.74	—	-0.52	0.15

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	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	4.7B	—	22.8B	26.6B	96.4B	74B	—	47.1B	52.4B	39.9B	44B
Enterprise value	4.1B	—	22.3B	25.4B	94B	71.4B	—	43.8B	47.6B	36.9B	46.3B
Shares outstanding	341.6M	379.3M	405.7M	425M	443.1M	458.4M	578.9M	608.9M	617M	612.2M	612.2M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	70.8	452.6	466.2	—	—	18.3	30.6	136.5
P/S	2.72	—	6.9	5.64	10.2	4.19	—	2.15	2.17	1.65	1.83
P/B	8.08	—	20.3	15.5	36	22.3	—	2.52	2.47	1.8	2.08
EV/EBITDA	-135.6	—	170.7	111.2	175.9	87.7	—	35.2	19.5	7.66	29.9
EV/Sales	2.4	—	6.78	5.4	9.9	4.04	—	2	1.97	1.52	1.85
Earnings yield	—	—	—	1.41%	0.22%	0.21%	—	—	5.47%	3.27%	0.73%
FCF yield	-0.06%	—	1.02%	1%	-0.02%	0.73%	—	-0.11%	2.96%	6.08%	-0.06%
PEG	—	—	—	—	—	—	—	—	—	—	-1.65

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	33.7%	37.9%	39.5%	40.1%	28.8%	25%	34.2%	34.2%	36.9%	42.8%	47.8%
Operating margin	-6.98%	0.58%	1.56%	3.26%	1.67%	2.38%	-0.16%	1.74%	6.99%	12.6%	7%
Net margin	-10%	-2.84%	-1.17%	7.97%	2.24%	0.9%	-3.15%	-0.1%	11.9%	5.39%	1.43%
ROE	-29.8%	-7.99%	-3.43%	21.9%	7.95%	4.79%	-3.21%	-0.11%	13.5%	5.88%	1.61%
ROA	-14.2%	-2.87%	-1.17%	8.25%	2.16%	1.14%	-1.76%	-0.06%	7.79%	3.3%	2.01%
ROIC	-577.4%	7.29%	7.24%	26.5%	55.2%	61.3%	-0.18%	2.49%	10.3%	12.3%	9.23%
Return on tangible assets	-16.2%	-3.08%	-1.48%	9.68%	2.38%	1.28%	-16.3%	-0.37%	25.9%	9.81%	2.77%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.73	1.83	2.07	1.9	1.88	1.94	1.85	2.01	2.33	2.2	2.21
Quick ratio	1.71	1.81	2.05	1.87	1.87	1.92	1.84	1.99	2.31	2.19	2.19
Debt / equity	—	0.46	0.94	0.63	1.3	1.66	0.37	0.32	0.37	0.4	0.33
Debt / assets	—	0.16	0.32	0.24	0.35	0.4	0.2	0.18	0.22	0.23	0.18
Net debt / EBITDA	—	-5.21	-3.13	-4.99	-4.48	-3.23	-2.72	-2.69	-1.98	-0.62	-0.97
Interest coverage	—	—	-1.01	18.6	4.79	12.7	-0.75	—	—	—	—
Effective tax rate	0%	0%	0%	0.73%	1.33%	0%	0%	0%	0%	22.8%	50.1%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	5	5.84	8.13	11.1	21.4	38.5	30.3	36	39.1	39.5	41.5
EPS (basic)	-0.5	-0.17	-0.09	0.88	0.48	0.36	-0.93	0.02	4.7	2.13	2.13
EPS (diluted)	-0.5	-0.17	-0.09	0.81	0.44	0.33	-0.93	0.02	4.56	2.1	0.56
Book value per share	1.69	2.07	2.76	4.04	6.05	7.23	29.8	30.7	34.4	36.2	36.7
FCF per share	-0.01	0.27	0.57	0.62	-0.03	1.19	0.01	-0.08	2.52	3.96	6.38
Cash per share	1.63	2.55	3.59	5.21	13.3	17.8	15.2	15.5	20.7	19.5	11.2
Capex per share	0.07	0.07	0.15	0.15	0.31	0.29	0.3	0.25	0.25	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.47%	1.18%	1.86%	1.33%	1.46%	0.76%	0.97%	0.69%	0.64%	—	—
Capex / operating cash flow	-90.8%	68.2%	22.8%	12.9%	-20.1%	16.5%	84.2%	94.9%	7.6%	—	—
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$5.6B	$5.8B	$6B	$6.2B	$6B	$6B	$5.8B	$6.1B	$6.1B	$6.3B	$6.1B	$6.6B
YoY change	+24.4%	+24.1%	+19.4%	+11.2%	+6.38%	+4.5%	-3.11%	-1.64%	+2.33%	+3.65%	+4.94%	+9.3%

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	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	555.5M	969.1M	1.5B	2.2B	5.9B	8.1B	8.8B	9.4B	12.7B	12B
Receivables	327.3M	629.1M	387.3M	622.6M	1.1B	1.3B	4.4B	5.8B	3.7B	4.3B
Inventory	13.7M	16.8M	28.6M	47.7M	61.1M	77.1M	97.7M	110.1M	105M	158.3M
Total current assets	1B	1.8B	2.1B	3.2B	7.8B	10.5B	15.6B	17.8B	19.9B	22.9B
Property, plant & equipment	88.3M	91.5M	291.4M	262.3M	690.4M	731.5M	702.5M	540.8M	534.4M	538.3M
Goodwill & intangibles	152.9M	145.3M	677.6M	670.8M	908.6M	1.6B	28B	27.4B	25.7B	26.3B
Total assets	1.2B	2.2B	3.3B	4.6B	9.9B	13.9B	31.4B	33B	36.8B	39.5B
Accounts payable	51.2M	131.6M	90.6M	137.9M	286.5M	336.8M	558.4M	142.6M	118M	114.6M
Short-term debt	—	—	—	27.3M	516.8M	562M	988.5M	806.8M	1.2B	2.1B
Total current liabilities	577.5M	972.8M	1B	1.7B	4.1B	5.4B	8.4B	8.9B	8.5B	10.4B
Long-term debt	—	358.6M	1B	1B	3B	5B	5.3B	5.3B	6.7B	6.9B
Total liabilities	635.2M	1.4B	2.2B	2.8B	7.2B	10.6B	14.1B	14.3B	15.5B	17.4B
Shareholders' equity	576.2M	786.3M	1.1B	1.7B	2.7B	3.3B	17.3B	18.7B	21.2B	22.2B
Total debt	—	358.6M	1B	1.1B	3.5B	5.5B	6.3B	6.1B	7.9B	9B
Net debt	—	-337.9M	465.5M	27.8M	335.4M	1.1B	-1.4B	-2.1B	-4.3B	-2.4B

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	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	9.2B	9.4B	10.4B	12B	12.8B	12.7B	12.8B	11.7B	13.6B	12B	13.3B	12.3B
Receivables	5.5B	5.8B	5.8B	6.1B	3.7B	3.7B	3.3B	3.6B	3.5B	4.3B	3.8B	4.1B
Inventory	96.4M	110.1M	119.4M	104.7M	118.1M	105M	108.8M	138.1M	166.6M	158.3M	174.3M	198.9M
Total current assets	17.5B	17.8B	20.5B	22.3B	20.8B	19.9B	19.7B	19.7B	22.1B	22.9B	23.8B	23.1B
Property, plant & equipment	585.3M	540.8M	533.6M	528.6M	549.5M	534.4M	521.3M	513.4M	557.2M	538.3M	483.3M	428.3M
Goodwill & intangibles	27.1B	27.4B	26.8B	26.9B	27.3B	25.7B	25.8B	26.4B	26.3B	26.3B	26.4B	26.3B
Total assets	32.6B	33B	35.6B	37.5B	36.4B	36.8B	36.4B	36.9B	39.2B	39.5B	40B	39.2B
Accounts payable	655.3M	142.6M	91.4M	112.7M	94.2M	118M	89M	118.8M	125.9M	114.6M	134M	122.4M
Short-term debt	104.7M	806.8M	1.5B	1.5B	1.2B	1.2B	52M	1.7B	1.8B	2.1B	1.9B	633.5M
Total current liabilities	9.2B	8.9B	12.5B	12.2B	10B	8.5B	8.7B	10.1B	10.1B	10.4B	12B	10.5B
Long-term debt	5.3B	5.3B	4B	5.9B	6.2B	6.7B	6B	4.4B	6.3B	6.9B	6.2B	6.5B
Total liabilities	14.7B	14.3B	16.6B	18.3B	16.4B	15.5B	15B	14.7B	16.7B	17.4B	18.3B	17.1B
Shareholders' equity	17.8B	18.7B	19B	19.3B	19.9B	21.2B	21.4B	22.1B	22.5B	22.2B	21.7B	22B
Total debt	5.4B	6.1B	5.4B	7.4B	7.4B	7.9B	6B	6.1B	8.1B	9B	8.1B	7.2B
Net debt	-2.6B	-2.1B	-4.4B	-4B	-4.8B	-4.3B	-6.3B	-5.2B	-5B	-2.4B	-4.7B	-4.8B

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	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-171.6M	-62.8M	-38.5M	375.4M	213.1M	158.8M	-553M	-21.1M	2.9B	1.3B
Depreciation & amortization	37.7M	37.3M	61M	75.6M	84.2M	134.8M	340.5M	408.6M	376.1M	369.5M
Stock-based compensation	138.8M	155.8M	216.9M	297.9M	397.8M	608M	1.1B	1.3B	1.3B	1.2B
Change in working capital	8.7M	-65.8M	-58.2M	-355.1M	-1.4B	-221.4M	-599.9M	-685.3M	207.3M	-682.1M
Operating cash flow	-27.7M	38.3M	268.3M	484.5M	-689.8M	812.2M	202.8M	159.2M	2B	2.6B
Capital expenditure	-25.1M	-26.1M	-61.2M	-62.5M	-138.4M	-134.3M	-170.8M	-151.2M	-153.9M	—
Investing cash flow	-122.3M	-340.6M	-904.3M	95.2M	-556.6M	-1.1B	1.2B	683.2M	650M	-2.6B
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	0	0	-156.8M	-1.2B	-2.3B
Financing cash flow	-5.7M	288.6M	269.8M	124.9M	3.7B	1.9B	-856.3M	-387.4M	1.8B	-702M
Net change in cash	-155.7M	-13.8M	-366.2M	704.6M	2.5B	1.5B	572.1M	455M	4.5B	-769.2M
Free cash flow	-2.7M	101.6M	232.3M	265.1M	-15.3M	543.5M	5.1M	-50.2M	1.6B	2.4B

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	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	-93.5M	157.8M	470.8M	189.9M	281.1M	1.9B	188.7M	538.3M	461.6M	115.6M	-308.6M	87.1M
Depreciation & amortization	115.5M	105.3M	97.6M	96.9M	92.7M	88.9M	88.9M	92.4M	92.1M	96.1M	96M	95.1M
Stock-based compensation	345.7M	331.6M	311.2M	320.6M	324.1M	316.9M	315.2M	297.3M	309.4M	293.5M	338.7M	259.8M
Change in working capital	300.8M	-664.1M	122.5M	36.5M	199.4M	-151M	-168.5M	-399.3M	-61.5M	-327.1M	524.8M	-11.6M
Operating cash flow	490.6M	-722.8M	488.3M	289.6M	681.8M	333.6M	39.9M	374.3M	1.5B	621M	965.6M	1B
Capital expenditure	-37.7M	-51.7M	-32M	-38.4M	-56.6M	-27M	-31.9M	—	—	—	—	—
Investing cash flow	-173.9M	278.2M	1B	-175M	105.7M	-323.2M	914.7M	-454.5M	-1.1B	-2.1B	330.6M	-253.1M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	0	—	-252.1M	-389.5M	-345.6M	-183.2M	-445.3M	-692.2M	-403M	-790.1M	-636M	-64.9M
Financing cash flow	-324M	897.2M	-778.1M	1.1B	69.9M	640.8M	-1.2B	-956.6M	1.5B	9.1M	-252.5M	-1.4B
Net change in cash	-7.4M	452.6M	752.5M	1.2B	857.4M	651.3M	-259.3M	-1B	1.9B	-1.5B	1B	-639.7M
Free cash flow	453.5M	-849.6M	457.4M	481M	628.2M	-13.2M	101.5M	343M	1.4B	579.8M	935M	966.6M

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