Block
XYZ NYSE· Transaction & Payment Processing Services
Last close · Oct 26, 2026
$74.55
KIRA · Stoqly’s AI analyst, in plain words
- Block had $24.2B of revenue in fiscal 2025, up 0.3% on the year before. Over five years, revenue changed +20.6% a year on average.
- Its operating margin was 7.1%, up 3.4 pts: of every 100 in sales, about 7 is left after running the business.
- Block made $1.3B of net profit in fiscal 2025.
- Free cash flow was $2.4B in fiscal 2025, 10.0% of revenue.
- Block returned $2.3B to shareholders in fiscal 2025, 96% of free cash flow. The diluted share count fell 2.1%.
- Block owes $207M more than it holds in cash, about 0.1 years of operating profit.
Market cap
$45.4B
P/E
133.1x
Revenue
$24.2B
Net income
$1.3B
Free cash flow
$2.4B
Operating margin
7.1%
Block in 30 seconds · fiscal 2025
Are sales growing?
+0.3%
Only a little. Sales grew 0.3% last year.
Does it make a profit?
5.4%
A little. It keeps 5.4% of every sale as profit.
Does profit turn into cash?
10.0%
Yes. 10.0% of sales ends up as free cash.
Is debt under control?
0.1x
Yes. It could repay its debt with 0.1 years of operating profit.
How healthy are the accounts?
5 / 9
Mixed. It passes 5 of 9 health tests.
How is the share priced?
133.1x
One share costs 133.1 times its yearly profit per share. Typical for its sector: 13.7x.
What Block does
Block runs two main businesses. Square sells payment processing, software and hardware that let sellers, from sole proprietors to multinational businesses, accept card payments and run their shops. Cash App is a consumer app where people send and receive money, spend with a card, save, invest, buy now and pay later, borrow, and buy bitcoin. Block also owns TIDAL, a music streaming service, and builds bitcoin products such as the Bitkey wallet and the Proto mining system. Block has two reportable segments, Square and Cash App. It also groups revenue into three categories: Commerce Enablement (payments, software, hardware and TIDAL), Financial Solutions (banking, lending and money management) and the Bitcoin Ecosystem. Together these categories produced $10.4 billion in gross profit in 2025. In 2025, more than 4.5 million sellers used Square to process $250 billion of payments.
Biggest risks, in its own words
- Slower growth, and a history of net losses that could return as it keeps investing in the business.
- Its recent workforce reduction and reorganization may not achieve their intended benefits.
- Its dependence on bank partners and the rules that apply to banks, including through Square Financial Services.
- Customer defaults on its loan products, especially if economic conditions get worse.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 26, 2026
- Legal name
- Block, Inc.
- CIK
- 0001512673
Block · XYZ
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $17.7B | $17.5B | $21.9B | $24.1B | $24.2B |
| Revenue growth | 86.0% | −0.7% | 25.0% | 10.1% | 0.3% |
| Gross margin | 25.0% | 34.2% | 34.2% | 36.9% | 42.8% |
| Operating margin | 0.9% | −3.6% | −1.3% | 3.7% | 7.1% |
| Net income | $166M | −$541M | $9.8M | $2.9B | $1.3B |
| Net margin | 0.9% | −3.1% | 0.0% | 12.0% | 5.4% |
| Diluted EPS | $0.33 | −$0.93 | $0.02 | $4.56 | $2.10 |
| Cash | |||||
| Cash from operations | $848M | $176M | $101M | $1.7B | $2.6B |
| Capital expenditure | $134M | $171M | $151M | $154M | $155M |
| Free cash flow | $714M | $5.1M | −$50.2M | $1.6B | $2.4B |
| FCF margin | 4.0% | 0.0% | −0.2% | 6.4% | 10.0% |
| Dividends paid | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Share buybacks | $0.0M | $0.0M | $157M | $1.2B | $2.3B |
| Share count change | 4.1% | 15.4% | 6.1% | 3.6% | −2.1% |
| Debt and strength | |||||
| Cash and short-term investments | $5.3B | $5.6B | $5.8B | $8.5B | $7.1B |
| Debt incl. finance leases | $4.6B | $4.6B | $4.1B | $6.1B | $7.3B |
| Shareholders' equity | $3.3B | $17.2B | $18.7B | $21.3B | $22.2B |
| Net debt / EBITDA | −2.6x | — | −13.3x | −1.9x | 0.1x |
| Current ratio | 1.8x | 1.9x | 2.0x | 2.3x | 2.2x |
| Interest coverage | 2.8x | — | — | 5.4x | 6.7x |
| Returns and quality | |||||
| Return on capital | 8.1% | −5.3% | −1.3% | 5.0% | 6.4% |
| Return on equity | 5.6% | −5.3% | 0.1% | 14.5% | 6.0% |
| Piotroski F-score | 3 | 5 | 7 | 6 | 5 |
| Altman Z'' | 2.6 | 2.6 | 3.0 | 3.8 | 4.0 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$90.9M
7 insiders
Of sales under plans
98%
$88.7M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Block · XYZ
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Block XYZ | $45.4B | 0.3% | 7.1% | 10.0% | 6.4% | 133.1x | 5 |
| Fiserv FISV | $25.8B | 3.6% | 27.5% | 20.3% | 9.0% | 9.3x | 6 |
| Mastercard MA | $541.7B | 16.4% | 57.6% | 52.3% | 93.8% | 33.7x | 8 |
| PayPal PYPL | $50.6B | 4.3% | 18.3% | 16.8% | 25.7% | 10.3x | 7 |
| Visa V | — | 11.3% | 60.0% | 53.9% | 42.4% | — | — |
Price compared with profit (P/E)
How many times its yearly profit per share one share costs. Higher means investors pay more for each unit of profit.
KIRA
At $74.55 a share, the company is worth $45.4B: 133.1 times its earnings of the last four quarters.
Block grew sales faster than 0 of its 4 similar companies. Its P/E is higher than 3 of 3.
Source: SEC EDGAR XBRL filings (CIK 0001512673). Data updated October 9, 2026. For information only — not investment advice. Check the original filings before relying on any figure.