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Block, Inc.

XYZ Technology Software Infrastructure

Block, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $24.2 billion, roughly unchanged from fiscal 2024. In the quarter to June 2026, revenue grew 9.30%, EPS fell 83.0%, free cash flow grew 181.8% and total debt rose 11.9%, each against the same quarter a year earlier. Member of the S&P 500; revenue growth for three consecutive years.

77.83 2.00 −2.51%
Market cap
$48.0B
P/E
134×
Fwd P/E
29.7×
Dividend yield
—
F-score
5/9
Altman Z
2.64
Beneish M
−2.66
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 86.65
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 6 — 5 1 1 4 3 10 8 12 6 3
Insider Ownership 10.99%

Capital & Financial Ratios $m

Market Cap 47,960.00
Revenue 25,041.96
Net Income 355.63
Free Cash Flow 3,881.84
Net Debt (706.76)
Current Ratio 2.21 (at or above 1.5: strong)
Debt/Equity 0.26 (at or below 0.5: strong)
P/E ratio 134.19 (above 35: high)
Fwd P/E 29.70
P/S ratio 1.86
P/B ratio 2.11
Past 5Y EPS Growth 36.70% (at or above 15%: strong)
This Y EPS Growth 71.40% (at or above 15%: strong)
Next Y EPS Growth 28.99% (at or above 15%: strong)
Next Y revenue growth 7.72%
Next 5Y EPS Growth 40.23% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.9×, against a ten-year median of 3.0×; over the ten years it ranged from 1.1× in 2023 to 14.7× in 2018.
P/E against its own 10 years 57.75%
10-year low 10-year high
P/S against its own 10 years 18.87%
10-year low 10-year high
P/B against its own 10 years 20.13%
10-year low 10-year high
EV/Sales against its own 10 years 25.47%
10-year low 10-year high
EV/FCF against its own 10 years 1.67%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 5,848 8,479 7,082 6,427
Receivables 5,671 3,566 4,030 3,863
Inventory — — — —
Other 6,299 7,836 11,745 12,854
17,819 19,880 22,857 23,145
2023 2024 2025 Q'26
Payables — — — —
ST’ Debt — 999 1,573 —
Other 753 185 467 572
8,883 8,547 10,384 10,479

Compound Annual Growth %

10y 5y 3y
Sales 34.30% 20.56% 11.33%
Cash Flow 61.69% 71.65% 144.77%
Earnings 0.00% 43.70% 0.00%
Book Value 45.88% 52.57% 8.72%

Revenue $m

Mar Jun Sep Dec Year
’26 6,057 6,618 — — —
’25 5,772 6,054 6,115 6,252 24,194
’24 5,957 6,156 5,976 6,033 24,121
’23 4,990 5,535 5,617 5,773 21,916
’22 3,961 4,404 4,516 4,651 17,532
’21 5,057 4,681 3,845 4,079 17,661
’20 1,381 1,924 3,034 3,159 9,498
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 966 1,020 — — —
’25 133 374 1,451 621 2,580
’24 489 519 685 14 1,707
’23 294 113 491 (798) 101
’22 229 (115) 16 45 176
’21 (29) 275 407 194 848
’20 121 (273) 413 (88) 173
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 935 967 — — —
’25 101 343 1,400 580 2,425
’24 457 481 628 (13) 1,553
’23 262 84 453 (850) (50)
’22 188 (159) (21) (4) 5
’21 (63) 243 376 158 714
’20 95 (304) 383 (140) 35
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 (0.52) 0.15 — — —
’25 0.30 0.87 0.74 0.19 2.10
’24 0.74 0.31 0.45 3.05 4.56
’23 0.15 (0.20) (0.15) 0.14 0.02
’22 (0.38) (0.36) (0.02) (0.19) (0.90)
’21 0.08 0.40 0.00 (0.17) 0.33
’20 (0.24) (0.03) 0.07 0.59 0.44
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 8.06 13.66 34.68 52.26 32.33 157.57 51.34 38.85 55.00 44.27

Analyst estimates 2026–2028

Powerpack
High 15.91 49.56 101.15 83.20 243.38 289.23 165.20 89.97 99.26 94.25
People
People Employees 1,853 2,338 3,349 3,835 5,477 8,521 12,428 12,985 11,372 10,205
Revenue/emp, $m 0.92 0.95 0.98 1.23 1.73 2.07 1.41 1.69 2.12 2.37
Income, $m
Income, $m Revenue 1,709 2,214 3,298 4,714 9,498 17,661 17,532 21,916 24,121 24,194
Gross margin, % 33.71 37.90 39.53 40.09 28.78 25.03 34.18 34.24 36.85 42.82
EBT (170) (63) (36) 378 216 157 (565) (29) 1,357 1,690
EBT margin, % (9.93) (2.83) (1.10) 8.02 2.27 0.89 (3.22) (0.13) 5.63 6.98
Net income (172) (63) (38) 375 213 159 (553) (21) 2,866 1,304
Depreciation 38 37 61 76 160 166 (252) (444) (589) (768)
Per share, $
Per share, $ Revenue 5.00 5.84 8.13 11.09 21.43 38.53 30.28 35.99 39.09 39.52
Earnings (0.50) (0.17) (0.09) 0.88 0.48 0.36 (0.96) 0.02 4.70 2.13
Cash flow 0.07 0.34 0.73 0.77 0.39 1.85 0.30 0.17 2.77 4.21
Capex (0.07) (0.07) (0.15) 0.58 (0.31) (0.29) (0.29) (0.25) (0.25) (0.25)
Free cash flow (0.01) 0.27 0.57 1.35 0.08 1.56 0.01 (0.08) 2.52 3.96
Book value 1.69 2.07 2.76 4.04 6.05 7.23 29.80 30.70 34.42 36.21
Shares, m 342 379 406 425 443 458 579 609 617 612
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 71.57 473.13 436.51 0.00 0.00 18.20 30.42
P/S 2.76 6.20 6.90 5.64 10.15 4.19 2.13 2.01 2.17 1.65
P/B 8.19 17.45 20.31 15.50 35.96 22.34 2.17 2.35 2.47 1.80
EV/Sales 2.47 5.95 6.87 5.52 10.03 4.15 2.07 1.93 2.08 1.68
EV/FCF (1,750.96) 129.75 97.54 45.42 2,874.92 102.94 10,378.82 (816.94) 32.26 16.75
Cash, $m
Cash, $m Operating cash flow 23 128 295 328 173 848 176 101 1,707 2,580
Capex (26) (26) (63) 247 (138) (134) (171) (151) (154) (155)
Free cash flow (2) 102 232 574 35 714 5 (50) 1,553 2,425
Balance, $m
Balance, $m Working capital 424 805 1,093 1,526 3,636 5,086 7,189 8,936 11,333 12,472
Total debt — 359 900 969 2,640 4,560 4,570 4,120 6,105 7,289
Net debt (534) (536) (224) (571) (1,213) (753) (1,056) (1,728) (2,373) 207
Shareholders’ equity 576 786 1,121 1,715 2,682 3,314 17,251 18,693 21,235 22,170
Returns, %
Returns, % ROA (16.29) (3.70) (1.41) 9.59 2.96 1.34 (2.33) 0.03 8.30 3.42
ROIC (253.10) (13.55) (2.55) 1.45 (0.80) 3.93 (2.41) (1.03) 2.96 4.77
ROE (31.65) (9.22) (4.03) 26.48 9.69 5.55 (5.26) 0.05 14.51 6.02
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Block, Inc. vs peers in Software Infrastructure (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
NBIS Nebius Group N.V. $51.2B 636× 34.8× +454.04% (above 0%: growing) n/m −399.28% (below 0%: shrinking) 77.06% (30.21%) Compare
XYZ Block, Inc. $48.0B 134× 29.7× +9.30% (above 0%: growing) −82.95% (below 0%: shrinking) +181.80% (above 0%: growing) 47.84% 6.75%
NTAP NetApp, Inc. $42.2B 28.4× 23.4× +29.89% (above 0%: growing) +64.66% (above 0%: growing) −35.32% (below 0%: shrinking) 70.07% 23.90% Compare
TWLO Twilio Inc. $42.0B 32.5× 107× +22.03% (above 0%: growing) +4,560.00% (above 0%: growing) +32.18% (above 0%: growing) 48.42% 5.64% Compare
CRWV CoreWeave Inc. $38.4B — (loss-making) — (loss-making) +112.46% (above 0%: growing) n/m −112.39% (below 0%: shrinking) 65.86% (1.90%) Compare
OKTA Okta, Inc. $36.5B 111× 72.2× +10.58% (above 0%: growing) +76.32% (above 0%: growing) +38.89% (above 0%: growing) 79.63% 13.29% Compare
ZS Zscaler, Inc. $35.9B — (loss-making) — (loss-making) +24.88% (above 0%: growing) n/m −64.66% (below 0%: shrinking) 76.73% (1.72%) Compare
MDB MongoDB, Inc. $29.5B 456× 2,423× +30.50% (above 0%: growing) n/m +94.79% (above 0%: growing) 73.83% 3.68% Compare
VRSN VeriSign, Inc. $27.5B 32.8× 31.1× +6.03% (above 0%: growing) +7.69% (above 0%: growing) +9.30% (above 0%: growing) 88.50% 68.18% Compare
Median of peers $37.4B 71.8× 53.5× +27.39% +70.49% −13.01% 75.28% 4.66%

All 173 Software Infrastructure stocks →

XYZ metrics, ten years each

Block, Inc. (XYZ) key facts

  • Block, Inc. (XYZ) is a Software Infrastructure company in the Technology sector, listed on the New York Stock Exchange.
  • Block, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $24.2 billion, roughly unchanged from fiscal 2024.
  • As of October 16, 2026, XYZ traded at $77.83, a market capitalization of $48.0 billion.
  • Return on equity was 6.02% and debt-to-equity 0.26.
  • Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 2.64 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Block, Inc. (XYZ) Latest News

28 Feb

Impact 5 ·
stockrow.com/XYZ · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com