Founded in 2009, Block provides payment services to merchants, along with related services. The company also launched Cash App, a person-to-person payment network.
It is a $46.3B technology company. Revenue grew 5.1% over the last year, it keeps 1¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 127.0× earnings — in the most expensive third of its own history.
- Website
- block.xyz
- Location
- Oakland, CA
- Employees
- 10 205
- Sector
- Technology
- Founded
- 2009
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong growth and health; Profitability and Moat lag behind.
Valuation55
- P/E vs own history88th pct · 0/25
- FCF yield8.4% · 25/25
- P/S1.8x · 25/25
- EV/EBITDA35.1x · 5/25
Growth87
- Revenue CAGR8.2% · 12/25
- Net income CAGR67.4% · 25/25
- EPS CAGR ~5Y55.6% · 25/25
- Fwd implied growth641.6% · 25/25
Profitability21
- ROIC7.9% · 5/25
- ROE1.6% · 5/25
- Net margin1.4% · 6/25
- Operating margin4.7% · 5/25
Health93
- Altman Z2.47 · 18/25
- Current ratio2.21 · 25/25
- Interest coverage130.9x · 25/25
- Net cash / debtNet cash · 25/25
Quality60
- Piotroski F6/9 · 15/25
- Beneish M-2.50 · 20/25
- FCF conversionn/a · 0/25
- Margin stabilityσ 3.8% · 25/25
Moat36
- ROIC >12% years0/5 yrs · 0/25
- Median gross margin34.6% · 13/25
- FCF-positive years4/5 yrs · 18/25
- Worst-year net marginworst -3.1% · 5/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2024FinancialBest year on record$2.90B net income
- FY2023FinancialBecame debt-freecash now exceeds total debt
- Sep 8, 2023ProductBlock announced that the service disruptions had been resolved and all systems were…
- Jan 31, 2022AcquisitionBlock completed its acquisition of Afterpay, an Australian buy now, pay later (BNPL) lender
- FY2021FinancialFirst recorded profitable year$166M net income
- FY2021FinancialRevenue already above $10B$17.7B in first reported year
- Dec 10, 2021MilestoneThe name change took effect, and Square, Inc. became Block, Inc
- Mar 2, 2021AcquisitionSquare reached an agreement to acquire majority ownership stake in Tidal
- Nov 19, 2015IPOSquare Inc. became a public company via an initial public offering
- 2014ProductThe company launched a payroll feature within its Square payment processing system, following the…
- 2013ProductAdditionally, Block's portfolio includes Cash App, a consumer-focused digital wallet introduced in 2013
- 2010ProductBlock's payment platform, Square, has been available in the United States since 2010 and the company launched in…
- 2009FoundedFounded in 2009 by Jack Dorsey, it is the U.S. market leader in point-of-sale systems
- 2009ProductThe inspiration for Block's first product "Square" occurred to Jack Dorsey in 2009 when his friend Jim McKelvey was…
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (46.4%)
- Strong cash conversion — FCF is 15.5% of revenue
- Net cash position after subtracting debt from cash
- Could repay net debt from ~0.1 years of free cash flow
- Interest covered 130.9× by operating earnings
Watch-outs
- Loss-making in 1 of the recent years
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+5.1% YoY
- Profitable — makes more than it spends$357M TTM
- Profit growing — earnings are higher than last year+36.5% YoY
- Generates cash — cash left after running and investing$3.88B TTM
- Debt under control — could handle its obligationsmore cash than debt
- Established company — not a micro-cap — lower blow-up risk$46.3B market cap
- Not printing shares — share count not ballooning — you keep your slice+34.0% shares over ~5y
- Proven track record — years of profitability behind it4/5 profitable years
- Financially stable — balance sheet not near distressAltman Z 2.5 — grey
- Pays a dividend — returns cash to shareholdersno data
- Valuation not extreme — price not wildly above earningsP/E 127.0
Peer comparisonBlock, Inc. vs 6 largest technology peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| XYZ this company | $46.3B | 127.0 | +5.1% | 1.4% | Strong |
| NVDA Nvidia Corp | $5.5T | 28.6 | +83.4% | 63.7% | Mixed |
| AAPL Apple Inc. | $4.9T | 38.1 | +14.2% | 27.6% | Strong |
| GOOGL Alphabet Inc. | $4.3T | 17.6 | +20.1% | 54.8% | Mixed |
| MSFT Microsoft Corp | $4.0T | 29.7 | +17.8% | 40.3% | Strong |
| SPCX Space Exploration Technologies Corp. | $2.1T | — | +33.2% | -34.0% | Strained |
| META Meta Platforms, Inc. | $1.8T | 26.9 | +27.7% | 29.8% | Mixed |
Head-to-head: XYZ vs NVDA · XYZ vs AAPL · XYZ vs GOOGL
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2021–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/XYZ
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Deeper analysis of XYZ on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $77.05 · market cap $46.3B.