Block (XYZ) Financials

$70.90 -0.35 (-0.49%)

Closing price 03:59 PM Eastern

Extended Trading

$70.59 -0.31 (-0.44%)

As of 07:36 PM Eastern

Annual Income Statements for Block

This table shows Block's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-212	-172	-63	-38	375	213	166	-541	9.77	2,897	1,306
Consolidated Net Income / (Loss)	-180	-172	-63	-38	375	213	159	-553	-21	2,866	1,304
Net Income / (Loss) Continuing Operations	-180	-172	-63	-38	375	213	159	-553	-21	2,866	1,304
Total Pre-Tax Income	-176	-170	-63	-36	378	216	157	-565	-29	1,357	1,690
Total Operating Income	-174	-170	-54	-37	27	-19	161	-625	-279	892	1,708
Total Gross Profit	370	576	839	1,304	1,890	2,733	4,420	5,992	7,505	8,889	10,360
Total Revenue	1,267	1,709	2,214	3,298	4,714	9,498	17,661	17,532	21,916	24,121	24,194
Total Cost of Revenue	897	1,133	1,375	1,994	2,824	6,764	13,241	11,540	14,411	15,232	13,834
Operating Cost of Revenue	897	1,133	1,375	1,994	2,824	6,764	13,241	11,540	14,411	15,232	13,834
Total Operating Expenses	544	746	894	1,340	1,863	2,752	4,259	6,616	7,784	7,997	8,652
Selling, General & Admin Expense	143	252	251	339	437	579	983	1,687	2,209	2,149	1,998
Marketing Expense	146	174	253	411	625	1,110	1,617	2,058	2,019	1,984	2,273
Research & Development Expense	200	269	322	497	674	882	1,384	2,136	2,721	2,914	2,908
Amortization Expense	1.76	-	-	4.36	-	3.86	16	139	174	155	136
Other Operating Expenses / (Income)	-	-	68	88	127	178	188	551	661	794	1,337
Total Other Income / (Expense), net	-1.61	0.78	-8.46	0.49	352	235	-3.65	59	250	465	-18
Interest & Investment Income	-	-	-	-	-	-	-	-36	47	-9.30	-129
Other Income / (Expense), net	-1.61	0.25	1.60	18	373	292	29	95	202	474	111
Income Tax Expense	3.75	1.92	0.15	2.33	2.77	2.86	-1.36	-12	-8.02	-1,509	386
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	0.00	0.00	-7.46	-12	-31	-31	-1.43
Basic Earnings per Share	($1.24)	($0.50)	($0.17)	($0.09)	$0.88	$0.48	$0.36	($0.93)	$0.02	$4.70	$2.13
Weighted Average Basic Shares Outstanding	170.50M	341.56M	379.34M	405.73M	425.00M	443.13M	458.43M	578.95M	608.86M	616.99M	612.24M
Diluted Earnings per Share	($1.24)	($0.50)	($0.17)	($0.09)	$0.81	$0.44	$0.33	($0.93)	$0.02	$4.56	$2.10
Weighted Average Diluted Shares Outstanding	170.50M	341.56M	379.34M	405.73M	466.08M	482.17M	501.78M	578.95M	614.02M	636.39M	622.84M
Weighted Average Basic & Diluted Shares Outstanding	171M	343.20M	369.50M	427.30M	435.23M	454.61M	580.06M	602.03M	615.69M	619.48M	599.10M

This table shows Block's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-102	-89	102	472	195	284	1,946	190	538	462	116
Consolidated Net Income / (Loss)	-105	-94	82	471	190	281	1,925	189	538	462	116
Net Income / (Loss) Continuing Operations	-105	-94	82	471	190	281	1,925	189	538	462	116
Total Pre-Tax Income	-114	-12	22	506	249	324	278	227	659	602	202
Total Operating Income	-132	-9.91	-131	250	307	323	13	329	484	409	485
Total Gross Profit	1,866	1,898	2,026	2,094	2,233	2,250	2,311	2,290	2,537	2,662	2,872
Total Revenue	5,535	5,617	5,773	5,957	6,156	5,976	6,033	5,772	6,054	6,115	6,252
Total Cost of Revenue	3,669	3,719	3,747	3,863	3,922	3,726	3,721	3,482	3,518	3,453	3,380
Operating Cost of Revenue	3,669	3,719	3,747	3,863	3,922	3,726	3,721	3,482	3,518	3,453	3,380
Total Operating Expenses	1,998	1,908	2,156	1,845	1,927	1,927	2,298	1,960	2,052	2,252	2,387
Selling, General & Admin Expense	549	481	746	471	474	476	728	492	449	544	513
Marketing Expense	538	479	506	444	508	512	521	504	550	599	620
Research & Development Expense	695	714	685	721	713	711	770	761	725	711	711
Amortization Expense	37	57	43	43	41	36	35	34	34	34	34
Other Operating Expenses / (Income)	180	177	176	166	192	192	245	170	294	363	510
Total Other Income / (Expense), net	19	-2.50	153	257	-58	1.14	265	-102	175	192	-283
Interest & Investment Income	3.94	21	-	19	-68	-8.52	-	-17	188	25	-326
Other Income / (Expense), net	15	-24	-73	238	11	9.66	-140	-85	-13	167	42
Income Tax Expense	-8.15	81	-60	35	59	43	-1,647	38	121	140	86
Net Income / (Loss) Attributable to Noncontrolling Interest	-3.34	-4.81	-20	-1.19	-5.40	-2.62	-21	-1.15	-0.12	0.05	-0.21
Basic Earnings per Share	($0.17)	($0.15)	$0.18	$0.77	$0.32	$0.46	$3.15	$0.31	$0.88	$0.76	$0.18
Weighted Average Basic Shares Outstanding	606.69M	611.28M	608.86M	616.40M	617.67M	616.43M	616.99M	619.37M	612.88M	610.20M	612.24M
Diluted Earnings per Share	($0.17)	($0.15)	$0.18	$0.74	$0.31	$0.45	$3.06	$0.30	$0.87	$0.74	$0.19
Weighted Average Diluted Shares Outstanding	606.69M	611.28M	614.02M	637.36M	634.22M	632.76M	636.39M	635.34M	618.93M	621.66M	622.84M
Weighted Average Basic & Diluted Shares Outstanding	610.08M	614.09M	615.69M	617.04M	615.65M	619.81M	619.48M	615.02M	609.58M	607.67M	599.10M

This table details how cash moves in and out of Block's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	241	-0.81	242	-95	670	3,256	2,182	1,461	573	4,221	-749
Net Cash From Operating Activities	21	23	128	295	328	173	848	176	101	1,707	2,580
Net Cash From Continuing Operating Activities	21	23	128	295	328	173	848	176	101	1,707	2,580
Net Income / (Loss) Continuing Operations	-180	-172	-63	-38	375	213	159	-553	-21	2,866	1,304
Consolidated Net Income / (Loss)	-180	-172	-63	-38	375	213	159	-553	-21	2,866	1,304
Depreciation Expense	28	38	37	61	76	84	135	341	409	376	370
Amortization Expense	-	-	-	-	-	76	31	-592	-984	-1,099	-1,138
Non-Cash Adjustments To Reconcile Net Income	62	-111	971	1,956	-256	-379	424	359	-93	2,962	2,063
Changes in Operating Assets and Liabilities, net	112	268	-818	-1,683	133	178	99	622	791	-3,398	-19
Net Cash From Investing Activities	-43	-114	-341	-906	95	-607	-1,311	1,226	683	650	-2,802
Net Cash From Continuing Investing Activities	-43	-114	-341	-906	95	-607	-1,311	1,226	683	650	-2,802
Purchase of Property, Plant & Equipment	-37	-25	-26	-61	-62	-138	-134	-171	-151	-154	-155
Purchase of Investments	0.00	-165	-570	-1,148	-1,319	-1,966	-3,252	-19,174	-25,134	-30,570	-50,540
Sale and/or Maturity of Investments	0.00	77	257	418	1,155	1,627	1,989	20,031	25,969	31,374	33,813
Other Investing Activities, net	-	-	-	-	-	0.00	-	-	0.00	0.00	14,081
Net Cash From Financing Activities	265	91	455	516	243	3,677	2,652	98	-240	1,953	-613
Net Cash From Continuing Financing Activities	265	91	455	516	243	3,677	2,652	98	-240	1,953	-613
Repayment of Debt	-31	-0.17	-1.44	-224	-5.12	-7.36	-658	-2,032	-1,617	-1,375	-2,521
Repurchase of Common Equity	0.00	-5.53	-55	-	-	-	0.00	0.00	-157	-1,170	-2,331
Issuance of Debt	0.00	0.00	428	856	0.00	2,581	2,653	1,621	1,388	3,256	3,505
Issuance of Common Equity	265	96	220	246	119	394	127	82	130	155	89
Other Financing Activities, net	1.10	0.00	-137	-362	130	709	530	427	15	1,087	645
Effect of Exchange Rate Changes	-1.78	-0.44	-	-	3.84	13	-7.07	-38	29	-89	86

This table details how cash moves in and out of Block's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	-638	-38	338	1,522	1,487	916	296	-141	-947	1,802	-1,464
Net Cash From Operating Activities	113	491	-798	489	519	685	14	133	374	1,451	621
Net Cash From Continuing Operating Activities	113	491	-798	489	519	685	14	133	374	1,451	621
Net Income / (Loss) Continuing Operations	-105	-94	82	471	190	281	1,925	189	538	462	116
Consolidated Net Income / (Loss)	-105	-94	82	471	190	281	1,925	189	538	462	116
Depreciation Expense	95	116	105	98	97	93	89	89	92	92	96
Amortization Expense	-136	-135	-627	-267	-271	-286	-275	-265	-281	-288	-303
Non-Cash Adjustments To Reconcile Net Income	131	-1,099	216	-476	167	2,803	468	193	62	958	850
Changes in Operating Assets and Liabilities, net	129	1,704	-574	664	336	-2,206	-2,193	-72	-37	228	-138
Net Cash From Investing Activities	-45	-174	278	1,042	-175	106	-323	915	-486	-1,101	-2,130
Net Cash From Continuing Investing Activities	-45	-174	278	1,042	-175	106	-323	915	-486	-1,101	-2,130
Purchase of Property, Plant & Equipment	-30	-38	-52	-32	-38	-57	-27	-32	-31	-51	-41
Purchase of Investments	-6,002	-6,369	-7,790	-6,282	-7,361	-7,627	-9,300	-7,068	-9,043	-14,612	-19,816
Sale and/or Maturity of Investments	5,986	6,233	8,120	7,356	7,225	7,789	9,004	8,015	8,589	13,562	3,646
Net Cash From Financing Activities	-712	-320	800	32	1,141	72	708	-1,212	-908	1,467	40
Net Cash From Continuing Financing Activities	-712	-320	800	32	1,141	72	708	-1,212	-908	1,467	40
Repurchase of Common Equity	-	-	-157	-252	-390	-346	-183	-445	-692	-403	-790
Issuance of Debt	241	275	823	161	2,159	87	849	223	213	2,213	857
Issuance of Common Equity	59	4.45	60	20	66	1.85	67	2.28	49	7.17	31
Other Financing Activities, net	-433	-410	225	895	-472	415	250	1,100	-291	-108	-58
Effect of Exchange Rate Changes	5.92	-35	58	-42	1.98	53	-102	22	73	-14	5.57

This table presents Block's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	895	1,211	2,187	3,281	4,551	9,870	15,026	31,364	33,031	36,778	39,550
Total Current Assets	706	1,001	1,778	2,112	3,220	7,762	11,622	15,623	17,819	19,880	22,857
Cash & Equivalents	461	452	696	583	1,047	3,158	4,444	4,544	4,996	8,075	6,564
Short-Term Investments	0.00	60	170	541	492	695	869	1,082	852	403	3,901
Note & Lease Receivable	0.60	42	73	90	165	463	518	2,345	3,220	2,870	2,670
Other Current Assets	230	425	810	898	1,515	3,446	5,791	7,652	8,750	8,532	9,722
Plant, Property, & Equipment, net	87	88	91	142	149	234	282	329	296	314	323
Total Noncurrent Assets	102	122	317	1,027	1,182	1,874	3,123	15,412	14,917	16,583	16,370
Long-Term Investments	0.00	27	204	465	537	464	1,526	573	251	472	189
Goodwill	57	57	58	262	266	317	519	11,967	11,920	11,417	11,849
Intangible Assets	27	19	14	77	69	138	257	2,014	1,762	1,433	1,282
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	-	-	9.40	1,801	1,303
Other Noncurrent Operating Assets	3.83	3.19	31	223	310	956	820	857	975	1,460	1,747
Total Liabilities & Shareholders' Equity	895	1,211	2,187	3,281	4,551	9,870	15,026	31,364	33,031	36,778	39,550
Total Liabilities	387	635	1,401	2,161	2,836	7,188	11,713	14,113	14,338	15,543	17,380
Total Current Liabilities	334	577	973	1,019	1,694	4,126	6,536	8,435	8,883	8,547	10,384
Short-Term Debt	-	-	-	-	0.00	464	498	922	753	1,184	2,040
Accounts Payable	19	13	-	-	1,273	3,009	3,980	5,549	-	-	6,805
Accrued Expenses	62	60	79	215	298	361	703	1,074	1,335	1,525	1,539
Total Noncurrent Liabilities	53	58	428	1,142	1,142	3,062	5,177	5,678	5,455	6,996	6,996
Long-Term Debt	0.00	0.00	359	900	939	2,587	4,559	4,987	4,975	6,403	6,614
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	-	-	15	132	36	162	1.17
Other Noncurrent Operating Liabilities	53	58	70	242	203	475	603	559	445	431	381
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	508	576	786	1,121	1,715	2,682	3,314	17,251	18,693	21,235	22,170
Total Preferred & Common Equity	508	576	786	1,121	1,715	2,682	3,273	17,223	18,695	21,268	22,204
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	508	576	786	1,121	1,715	2,682	3,273	17,223	18,695	21,268	22,204
Common Stock	1,117	1,357	1,630	2,012	2,224	2,955	3,317	18,315	19,602	19,900	18,895
Retained Earnings	-608	-779	-843	-886	-510	-297	-28	-569	-528	2,369	3,674
Accumulated Other Comprehensive Income / (Loss)	-1.19	-1.99	-1.32	-6.05	1.63	23	-16	-523	-378	-1,001	-365
Noncontrolling Interest	-	-	-	-	-	0.00	41	28	-2.42	-33	-34

This table presents Block's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025
Total Assets	29,121	31,337	31,076	32,555	35,613	37,547	36,355	36,396	36,858	39,183
Total Current Assets	13,549	15,900	15,841	17,541	20,538	22,291	20,775	19,712	19,708	22,068
Cash & Equivalents	4,332	5,061	4,746	5,112	5,753	7,799	8,300	7,089	6,384	8,336
Short-Term Investments	1,053	1,024	1,122	1,161	573	658	505	-	1,040	2,203
Note & Lease Receivable	1,252	1,487	1,628	1,695	1,914	2,978	2,091	3,391	2,203	2,076
Other Current Assets	6,912	8,329	8,346	9,572	12,297	10,857	9,879	9,233	10,081	9,452
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	15,572	15,437	15,235	15,014	15,075	15,255	15,581	16,683	17,151	17,115
Goodwill	11,558	11,919	11,944	11,749	11,721	11,822	12,048	11,504	11,817	11,808
Intangible Assets	2,031	1,949	1,878	1,779	1,674	1,629	1,608	1,391	1,369	1,326
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	-	1,766	1,794	1,542
Other Noncurrent Operating Assets	1,180	1,156	1,115	1,060	1,680	1,804	1,924	2,022	2,171	2,439
Total Liabilities & Shareholders' Equity	29,121	31,337	31,076	32,555	35,613	37,547	36,355	36,396	36,858	39,183
Total Liabilities	12,591	13,862	13,306	14,724	16,646	18,254	16,446	14,960	14,735	16,710
Total Current Liabilities	7,279	8,706	8,239	9,192	12,501	12,231	10,040	8,687	10,071	10,108
Short-Term Debt	491	766	530	52	1,408	1,462	1,137	0.00	1,691	1,729
Accounts Payable	4,891	5,750	5,536	6,673	8,137	8,060	6,156	7,103	6,957	6,800
Accrued Expenses	968	1,066	1,086	1,275	1,275	1,269	1,334	1,584	1,423	1,579
Total Noncurrent Liabilities	5,312	5,156	5,067	5,532	4,144	6,023	6,406	6,274	4,664	6,602
Long-Term Debt	4,587	4,497	4,405	4,976	3,669	5,583	5,931	5,727	4,124	6,057
Other Noncurrent Operating Liabilities	566	659	662	556	475	440	475	546	540	545
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	16,530	17,475	17,770	17,831	18,967	19,293	19,909	21,435	22,123	22,473
Total Preferred & Common Equity	16,498	17,449	17,747	17,813	18,971	19,302	19,921	21,469	22,157	22,507
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	16,498	17,449	17,747	17,813	18,971	19,302	19,921	21,469	22,157	22,507
Common Stock	17,999	18,607	18,993	19,352	19,687	19,696	19,688	19,782	19,442	19,365
Retained Earnings	-455	-586	-708	-737	-56	139	423	2,558	3,097	3,558
Accumulated Other Comprehensive Income / (Loss)	-1,047	-573	-537	-802	-660	-532	-190	-871	-382	-416
Noncontrolling Interest	32	26	23	18	-3.61	-9.00	-12	-34	-34	-34

This table displays calculated financial ratios and metrics derived from Block's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	49.04%	34.85%	29.59%	48.95%	42.91%	101.50%	85.95%	-0.73%	25.01%	10.06%	0.30%
EBITDA Growth	-10.72%	10.77%	88.43%	379.26%	1,010.16%	-8.85%	-17.73%	-319.12%	-10.02%	125.91%	63.29%
EBIT Growth	-15.34%	3.33%	69.09%	65.51%	2,302.97%	-31.73%	-30.17%	-377.61%	46.43%	433.58%	33.14%
NOPAT Growth	-15.93%	2.30%	68.20%	32.45%	202.86%	-170.42%	975.31%	-369.02%	55.35%	1,065.59%	-30.04%
Net Income Growth	-16.69%	4.58%	63.39%	38.78%	1,076.38%	-43.24%	-25.47%	-448.18%	96.18%	13,669.86%	-54.50%
EPS Growth	-14.81%	59.68%	66.00%	47.06%	1,000.00%	-45.68%	-25.00%	-381.82%	102.15%	22,700.00%	-53.95%
Operating Cash Flow Growth	118.80%	9.51%	452.12%	131.05%	11.03%	-47.16%	389.76%	-79.25%	-42.60%	1,591.10%	51.09%
Free Cash Flow Firm Growth	0.00%	28.20%	26.32%	-465.17%	71.62%	-618.44%	105.43%	-34,168.25%	90.19%	121.50%	204.76%
Invested Capital Growth	0.00%	-99.24%	25,843.97%	1,079.17%	33.77%	145.31%	8.19%	1,007.50%	8.02%	8.46%	1.50%
Revenue Q/Q Growth	0.00%	4.75%	8.01%	10.61%	8.79%	24.12%	5.49%	3.38%	5.40%	1.09%	0.92%
EBITDA Q/Q Growth	0.00%	20.86%	26.65%	802.72%	774.82%	-1.39%	-48.08%	-41.60%	-129.35%	1,212.28%	198.10%
EBIT Q/Q Growth	0.00%	16.68%	10.03%	58.01%	1,687.30%	-23.96%	-66.47%	-10.29%	-48.78%	-12.12%	65.40%
NOPAT Q/Q Growth	0.00%	16.56%	7.31%	15.27%	2,927.41%	55.73%	-38.12%	-14.81%	1.60%	170.84%	-39.50%
Net Income Q/Q Growth	0.00%	16.18%	4.35%	-70.43%	873.24%	-32.34%	-70.24%	-7.10%	90.43%	179.99%	-58.11%
EPS Q/Q Growth	0.00%	39.02%	-6.25%	-12.50%	836.36%	-33.33%	-70.54%	-2.20%	106.06%	171.43%	-57.75%
Operating Cash Flow Q/Q Growth	0.00%	-43.89%	-1.92%	154.26%	-43.61%	-5.88%	49.87%	-45.86%	-89.31%	90.63%	30.78%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	16.82%	2.74%	-1,515.04%	-31.07%	113.07%	-11.99%	-66.11%	125.39%	61.54%
Invested Capital Q/Q Growth	0.00%	100.25%	580.13%	9.38%	43.31%	39.51%	-6.26%	9.99%	13.38%	9.35%	2.28%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	29.20%	33.71%	37.90%	39.53%	40.09%	28.78%	25.03%	34.18%	34.24%	36.85%	42.82%
EBITDA Margin	-11.72%	-7.75%	-0.69%	1.30%	10.08%	4.56%	2.02%	-4.46%	-3.92%	0.92%	4.34%
Operating Margin	-13.77%	-9.98%	-2.45%	-1.11%	0.56%	-0.20%	0.91%	-3.56%	-1.27%	3.70%	7.06%
EBIT Margin	-13.90%	-9.96%	-2.38%	-0.55%	8.48%	2.87%	1.08%	-3.02%	-1.29%	3.92%	7.52%
Profit (Net Income) Margin	-14.19%	-10.04%	-2.84%	-1.17%	7.97%	2.24%	0.90%	-3.15%	-0.10%	11.88%	5.39%
Tax Burden Percent	102.13%	101.13%	100.24%	106.44%	99.27%	98.67%	100.87%	97.82%	72.48%	211.21%	77.18%
Interest Burden Percent	100.00%	99.69%	119.11%	199.10%	94.62%	79.13%	82.62%	106.85%	10.28%	143.53%	92.89%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.73%	1.33%	-0.87%	0.00%	0.00%	-111.21%	22.82%
Return on Invested Capital (ROIC)	-1,320.51%	-1,280.43%	-206.66%	-10.95%	5.23%	-1.86%	11.03%	-4.73%	-1.11%	9.87%	6.59%
ROIC Less NNEP Spread (ROIC-NNEP)	-1,296.94%	-1,270.62%	-202.90%	-9.17%	-32.98%	-21.14%	11.27%	6.45%	-53.66%	-103.30%	7.43%
Return on Net Nonoperating Assets (RNNOA)	1,249.72%	1,248.78%	197.44%	6.92%	21.25%	11.56%	-5.73%	-0.65%	0.99%	4.49%	-0.58%
Return on Equity (ROE)	-70.79%	-31.65%	-9.22%	-4.03%	26.48%	9.69%	5.30%	-5.38%	-0.12%	14.36%	6.01%
Cash Return on Invested Capital (CROIC)	-1,520.51%	-1,083.46%	-405.12%	-179.68%	-23.66%	-86.03%	3.16%	-171.60%	-8.82%	1.75%	5.09%
Operating Return on Assets (OROA)	-19.68%	-16.16%	-3.10%	-0.66%	10.21%	3.78%	1.53%	-2.28%	-0.88%	2.71%	4.77%
Return on Assets (ROA)	-20.10%	-16.29%	-3.70%	-1.41%	9.59%	2.96%	1.28%	-2.38%	-0.07%	8.21%	3.42%
Return on Common Equity (ROCE)	-70.79%	-31.65%	-9.22%	-4.03%	26.48%	9.69%	5.26%	-5.36%	-0.12%	14.37%	6.02%
Return on Equity Simple (ROE_SIMPLE)	-35.39%	-29.78%	-7.99%	-3.43%	21.89%	7.95%	4.85%	-3.21%	-0.11%	13.48%	0.00%
Net Operating Profit after Tax (NOPAT)	-122	-119	-38	-26	26	-19	163	-437	-195	1,885	1,318
NOPAT Margin	-9.64%	-6.98%	-1.71%	-0.78%	0.56%	-0.20%	0.92%	-2.49%	-0.89%	7.81%	5.45%
Net Nonoperating Expense Percent (NNEP)	-23.57%	-9.81%	-3.75%	-1.78%	38.21%	19.27%	-0.24%	-11.17%	52.55%	113.17%	-0.85%
Return On Investment Capital (ROIC_SIMPLE)	-24.04%	-20.71%	-3.31%	-1.27%	0.99%	-0.32%	1.94%	-1.89%	-0.80%	6.54%	4.28%
Cost of Revenue to Revenue	70.80%	66.29%	62.10%	60.47%	59.91%	71.22%	74.97%	65.82%	65.76%	63.15%	57.18%
SG&A Expenses to Revenue	11.32%	14.75%	11.32%	10.29%	9.27%	6.10%	5.56%	9.62%	10.08%	8.91%	8.26%
R&D to Revenue	15.76%	15.72%	14.54%	15.08%	14.30%	9.28%	7.84%	12.18%	12.42%	12.08%	12.02%
Operating Expenses to Revenue	42.97%	43.64%	40.35%	40.64%	39.53%	28.98%	24.11%	37.74%	35.52%	33.15%	35.76%
Earnings before Interest and Taxes (EBIT)	-176	-170	-53	-18	400	273	191	-529	-283	946	1,819
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-148	-132	-15	43	475	433	356	-781	-859	223	1,051
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	8.33	17.13	20.70	15.67	36.60	22.76	2.18	2.54	2.48	1.78
Price to Tangible Book Value (P/TBV)	0.00	9.61	18.88	29.67	19.48	44.06	29.84	11.59	9.47	6.26	4.36
Price to Revenue (P/Rev)	0.00	2.81	6.08	7.03	5.70	10.33	4.22	2.14	2.17	2.18	1.63
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	71.60	460.53	448.03	0.00	4,860.84	18.18	30.29
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	1.40%	0.22%	0.22%	0.00%	0.02%	5.50%	3.30%
Enterprise Value to Invested Capital (EV/IC)	0.00	30,058.34	348.04	52.17	44.61	68.44	47.51	2.20	2.57	2.58	1.86
Enterprise Value to Revenue (EV/Rev)	0.00	2.48	5.75	6.82	5.46	10.20	4.12	2.13	2.15	2.13	1.55
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	525.60	54.16	223.60	204.12	0.00	0.00	230.33	35.70
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	64.40	354.97	381.77	0.00	0.00	54.24	20.62
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	976.49	0.00	447.73	0.00	0.00	27.21	28.46
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	183.23	99.69	76.26	78.57	559.62	85.82	212.16	466.78	30.04	14.54
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	1,562.31	0.00	0.00	153.24	36.79
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.46	0.80	0.55	1.14	1.53	0.34	0.31	0.36	0.39
Long-Term Debt to Equity	0.00	0.00	0.46	0.80	0.55	0.96	1.38	0.29	0.27	0.30	0.30
Financial Leverage	-0.96	-0.98	-0.97	-0.75	-0.64	-0.55	-0.51	-0.10	-0.02	-0.04	-0.08
Leverage Ratio	1.76	1.94	2.49	2.87	2.76	3.28	4.15	2.26	1.79	1.75	1.76
Compound Leverage Factor	1.76	1.94	2.97	5.71	2.61	2.60	3.43	2.41	0.18	2.51	1.63
Debt to Total Capital	0.00%	0.00%	31.32%	44.54%	35.38%	53.22%	60.41%	25.51%	23.46%	26.32%	28.08%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	8.10%	5.95%	3.98%	3.08%	4.11%	6.62%
Long-Term Debt to Total Capital	0.00%	0.00%	31.32%	44.54%	35.38%	45.13%	54.47%	21.53%	20.37%	22.21%	21.46%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.49%	0.12%	-0.01%	-0.11%	-0.11%
Common Equity to Total Capital	100.00%	100.00%	68.68%	55.47%	64.62%	46.78%	39.10%	74.37%	76.55%	73.79%	72.04%
Debt to EBITDA	0.00	0.00	-23.39	21.01	1.98	7.04	14.19	-7.56	-6.67	34.08	8.23
Net Debt to EBITDA	0.00	0.00	48.26	-16.10	-2.39	-2.92	-5.00	0.37	0.43	-6.12	-1.90
Long-Term Debt to EBITDA	0.00	0.00	-23.39	21.01	1.98	5.97	12.79	-6.38	-5.79	28.76	6.29
Debt to NOPAT	0.00	0.00	-9.45	-35.10	35.61	-164.34	31.12	-13.52	-29.35	4.03	6.56
Net Debt to NOPAT	0.00	0.00	19.50	26.89	-43.17	68.20	-10.97	0.67	1.90	-0.72	-1.52
Long-Term Debt to NOPAT	0.00	0.00	-9.45	-35.10	35.61	-139.34	28.06	-11.41	-25.49	3.40	5.02
Altman Z-Score	0.00	5.00	6.61	7.45	7.26	9.65	5.44	2.35	2.93	3.23	2.64
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.68%	0.34%	0.07%	-0.09%	-0.16%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.11	1.73	1.83	2.07	1.90	1.88	1.78	1.85	2.01	2.33	2.20
Quick Ratio	1.38	0.96	0.97	1.19	1.01	1.05	0.89	0.95	1.02	1.29	1.26
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-141	-101	-74	-420	-119	-857	47	-15,866	-1,556	335	1,020
Operating Cash Flow to CapEx	56.43%	92.02%	489.37%	482.13%	524.22%	125.08%	631.20%	102.98%	66.79%	1,109.05%	1,663.92%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-7.40	-23.38	-5.54	-15.05	1.41	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	12.70	16.41	15.23	3.04	25.60	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	10.11	13.01	12.32	0.61	21.54	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.42	1.62	1.30	1.21	1.20	1.32	1.42	0.76	0.68	0.69	0.63
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	14.53	19.47	24.63	28.20	32.33	49.63	68.50	57.35	70.09	79.02	75.87
Accounts Payable Turnover	47.54	71.98	0.00	0.00	0.00	3.16	3.79	2.42	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	7.68	5.07	0.00	0.00	0.00	115.54	96.32	150.69	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	-7.68	-5.07	0.00	0.00	0.00	-115.54	-96.32	-150.69	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	18	0.14	37	431	577	1,415	1,531	16,960	18,321	19,871	20,170
Invested Capital Turnover	137.02	183.37	120.60	14.10	9.35	9.53	11.99	1.90	1.24	1.26	1.21
Increase / (Decrease) in Invested Capital	18	-18	36	395	146	838	116	15,429	1,361	1,550	299
Enterprise Value (EV)	0.00	4,238	12,732	22,504	25,743	96,876	72,759	37,320	47,126	51,281	37,519
Market Capitalization	0.00	4,800	13,472	23,193	26,881	98,142	74,501	37,583	47,500	52,678	39,553
Book Value per Share	$2.98	$1.64	$2.02	$2.71	$3.99	$5.95	$7.10	$28.80	$30.44	$34.31	$36.54
Tangible Book Value per Share	$2.49	$1.42	$1.84	$1.89	$3.21	$4.94	$5.41	$5.42	$8.16	$13.58	$14.93
Total Capital	508	576	1,145	2,020	2,654	5,733	8,371	23,160	24,421	28,822	30,824
Total Debt	0.00	0.00	359	900	939	3,051	5,057	5,908	5,728	7,587	8,654
Total Long-Term Debt	0.00	0.00	359	900	939	2,587	4,559	4,987	4,975	6,403	6,614
Net Debt	-475	-561	-740	-689	-1,138	-1,266	-1,782	-291	-371	-1,364	-2,000
Capital Expenditures (CapEx)	37	25	26	61	62	138	134	171	151	154	155
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-104	-110	-89	-31	-14	246	271	2,484	3,840	4,039	4,048
Debt-free Net Working Capital (DFNWC)	371	424	805	1,093	1,526	4,100	5,584	8,110	9,689	12,518	14,513
Net Working Capital (NWC)	371	424	805	1,093	1,526	3,636	5,086	7,189	8,936	11,333	12,472
Net Nonoperating Expense (NNE)	58	52	25	13	-349	-232	3.68	116	-174	-982	14
Net Nonoperating Obligations (NNO)	-490	-576	-750	-689	-1,138	-1,266	-1,782	-291	-371	-1,364	-2,000
Total Depreciation and Amortization (D&A)	28	38	37	61	76	160	166	-252	-576	-723	-768
Debt-free, Cash-free Net Working Capital to Revenue	-8.17%	-6.44%	-4.04%	-0.93%	-0.29%	2.59%	1.53%	14.17%	17.52%	16.75%	16.73%
Debt-free Net Working Capital to Revenue	29.31%	24.81%	36.38%	33.15%	32.37%	43.16%	31.62%	46.26%	44.21%	51.90%	59.99%
Net Working Capital to Revenue	29.31%	24.81%	36.38%	33.15%	32.37%	38.28%	28.80%	41.01%	40.77%	46.99%	51.55%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.24)	($0.50)	($0.17)	($0.09)	$0.88	$0.48	$0.36	($0.93)	$0.02	$4.70	$2.13
Adjusted Weighted Average Basic Shares Outstanding	170.50M	341.56M	379.34M	405.73M	425.00M	443.13M	458.43M	578.95M	608.86M	616.99M	612.24M
Adjusted Diluted Earnings per Share	($1.24)	($0.50)	($0.17)	($0.09)	$0.81	$0.44	$0.33	($0.93)	$0.02	$4.56	$2.10
Adjusted Weighted Average Diluted Shares Outstanding	170.50M	341.56M	379.34M	405.73M	466.08M	482.17M	501.78M	578.95M	614.02M	636.39M	622.84M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	171M	367.19M	396.36M	419.69M	435.23M	454.61M	580.06M	602.03M	615.69M	619.48M	599.10M
Normalized Net Operating Profit after Tax (NOPAT)	-84	-83	-38	-26	26	-19	163	-405	-195	625	1,318
Normalized NOPAT Margin	-6.65%	-4.88%	-1.71%	-0.78%	0.56%	-0.20%	0.92%	-2.31%	-0.89%	2.59%	5.45%
Pre Tax Income Margin	-13.90%	-9.93%	-2.83%	-1.10%	8.02%	2.27%	0.89%	-3.22%	-0.13%	5.63%	6.98%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	-5.23	-1.01	18.58	4.79	5.75	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	-3.77	-1.43	1.23	-0.33	4.91	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	-7.83	-4.41	15.67	2.36	1.70	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	-6.37	-4.83	-1.68	-2.76	0.85	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	-3.22%	-87.26%	0.00%	0.00%	0.00%	0.00%	0.00%	-742.34%	40.83%	178.70%

This table displays calculated financial ratios and metrics derived from Block's official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	25.67%	24.40%	24.13%	19.38%	11.21%	6.38%	4.50%	-3.11%	-1.64%	2.33%	3.65%
EBITDA Growth	38.26%	43.06%	-201.05%	300.76%	145.90%	368.43%	56.88%	-78.61%	96.82%	173.68%	643.05%
EBIT Growth	39.76%	-12.77%	-83.89%	581.48%	310.29%	1,099.28%	37.65%	-49.90%	48.48%	73.32%	130.27%
NOPAT Growth	38.20%	79.69%	-412.48%	3,033.37%	352.89%	4,139.29%	118.59%	17.86%	69.07%	12.15%	208.04%
Net Income Growth	49.65%	-399.06%	169.69%	391.32%	280.18%	400.54%	2,248.02%	-59.92%	183.52%	64.19%	-94.00%
EPS Growth	52.78%	-650.00%	205.88%	362.50%	282.35%	400.00%	1,600.00%	-59.46%	180.65%	64.44%	-93.79%
Operating Cash Flow Growth	198.86%	3,021.08%	-1,858.74%	66.23%	358.35%	39.42%	101.73%	-72.75%	-27.93%	111.91%	4,400.00%
Free Cash Flow Firm Growth	93.63%	94.61%	88.11%	-4,630.90%	-23.79%	-132.57%	20.91%	-67.29%	-102.18%	28.83%	98.57%
Invested Capital Growth	5.09%	4.79%	8.02%	9.10%	8.11%	12.46%	8.46%	13.30%	14.73%	8.52%	1.50%
Revenue Q/Q Growth	10.92%	1.49%	2.77%	3.19%	3.33%	-2.92%	0.95%	-4.32%	4.90%	1.00%	2.25%
EBITDA Q/Q Growth	-300.61%	66.26%	-1,250.42%	161.36%	-77.02%	97.29%	-316.94%	121.75%	314.13%	34.91%	-15.70%
EBIT Q/Q Growth	-264.19%	71.21%	-502.31%	14,312.27%	-49.33%	36.81%	-137.58%	292.33%	92.76%	22.44%	-8.52%
NOPAT Q/Q Growth	-1,068.05%	92.50%	-6,892.13%	147.89%	0.70%	19.79%	-67.82%	203.59%	44.45%	-20.53%	-11.61%
Net Income Q/Q Growth	-209.97%	11.23%	187.63%	474.38%	-59.67%	48.07%	584.60%	-90.19%	185.25%	-14.25%	-74.97%
EPS Q/Q Growth	-206.25%	11.76%	220.00%	311.11%	-58.11%	45.16%	580.00%	-90.20%	190.00%	-14.94%	-74.32%
Operating Cash Flow Q/Q Growth	-61.51%	333.44%	-262.46%	161.33%	6.13%	31.84%	-97.98%	866.20%	180.74%	287.65%	-57.20%
Free Cash Flow Firm Q/Q Growth	-3,297.81%	16.64%	-147.64%	40.63%	11.09%	-56.62%	15.79%	-42.66%	-7.45%	44.86%	98.30%
Invested Capital Q/Q Growth	1.85%	-2.31%	13.38%	-4.61%	0.92%	1.63%	9.35%	1.02%	2.19%	-3.87%	2.28%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	33.71%	33.80%	35.09%	35.16%	36.28%	37.65%	38.32%	39.67%	41.90%	43.53%	45.94%
EBITDA Margin	-2.88%	-0.96%	-12.57%	5.34%	1.19%	2.41%	-5.19%	1.18%	4.66%	6.22%	5.13%
Operating Margin	-2.39%	-0.18%	-2.26%	4.19%	4.98%	5.41%	0.22%	5.71%	8.00%	6.70%	7.76%
EBIT Margin	-2.12%	-0.60%	-3.53%	8.18%	4.01%	5.66%	-2.11%	4.23%	7.78%	9.43%	8.44%
Profit (Net Income) Margin	-1.90%	-1.67%	1.42%	7.90%	3.08%	4.70%	31.90%	3.27%	8.89%	7.55%	1.85%
Tax Burden Percent	92.82%	754.08%	371.17%	92.99%	76.28%	86.73%	692.84%	83.12%	81.64%	76.74%	57.22%
Interest Burden Percent	96.64%	36.68%	-10.84%	103.84%	100.76%	95.91%	-218.71%	92.94%	140.02%	104.32%	38.29%
Effective Tax Rate	0.00%	0.00%	-271.17%	7.01%	23.72%	13.27%	-592.84%	16.88%	18.36%	23.26%	42.78%
Return on Invested Capital (ROIC)	-2.04%	-0.16%	-10.44%	5.25%	5.19%	6.52%	1.89%	6.01%	8.11%	6.50%	5.37%
ROIC Less NNEP Spread (ROIC-NNEP)	-0.96%	6.06%	-181.59%	-13.95%	8.52%	6.46%	-209.58%	12.52%	-1.35%	-0.07%	15.01%
Return on Net Nonoperating Assets (RNNOA)	0.07%	-0.49%	3.35%	0.95%	-0.61%	-0.58%	9.11%	-0.81%	0.10%	0.01%	-1.16%
Return on Equity (ROE)	-1.97%	-0.65%	-7.09%	6.21%	4.58%	5.93%	10.99%	5.20%	8.21%	6.51%	4.20%
Cash Return on Invested Capital (CROIC)	-6.36%	-5.93%	-8.82%	-8.82%	-5.74%	-7.68%	1.75%	-0.14%	-1.92%	3.33%	5.09%
Operating Return on Assets (OROA)	-1.39%	-0.41%	-2.40%	5.59%	2.75%	3.92%	-1.46%	2.81%	4.98%	5.99%	5.35%
Return on Assets (ROA)	-1.25%	-1.12%	0.97%	5.40%	2.11%	3.26%	22.05%	2.17%	5.70%	4.79%	1.17%
Return on Common Equity (ROCE)	-1.97%	-0.65%	-7.08%	6.20%	4.58%	5.93%	11.00%	5.20%	8.22%	6.52%	4.21%
Return on Equity Simple (ROE_SIMPLE)	-0.82%	-1.24%	0.00%	1.87%	3.36%	5.14%	0.00%	12.04%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-92	-6.94	-485	232	234	280	90	274	395	314	278
NOPAT Margin	-1.67%	-0.12%	-8.40%	3.90%	3.80%	4.69%	1.49%	4.74%	6.53%	5.14%	4.44%
Net Nonoperating Expense Percent (NNEP)	-1.08%	-6.23%	171.15%	19.20%	-3.33%	0.06%	211.47%	-6.51%	9.46%	6.57%	-9.64%
Return On Investment Capital (ROIC_SIMPLE)	-0.41%	-0.03%	-1.99%	0.97%	0.89%	1.04%	0.31%	1.01%	1.42%	1.04%	0.90%
Cost of Revenue to Revenue	66.29%	66.20%	64.91%	64.84%	63.72%	62.35%	61.68%	60.33%	58.10%	56.47%	54.06%
SG&A Expenses to Revenue	9.92%	8.56%	12.93%	7.91%	7.69%	7.96%	12.07%	8.52%	7.42%	8.90%	8.20%
R&D to Revenue	12.55%	12.71%	11.87%	12.10%	11.59%	11.90%	12.76%	13.18%	11.98%	11.63%	11.37%
Operating Expenses to Revenue	36.10%	33.97%	37.35%	30.97%	31.30%	32.24%	38.10%	33.96%	33.90%	36.83%	38.17%
Earnings before Interest and Taxes (EBIT)	-117	-34	-204	488	247	338	-127	244	471	577	527
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-159	-54	-726	318	73	144	-313	68	282	380	321
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.27	1.52	2.54	2.74	2.06	2.07	2.48	1.57	1.89	1.96	1.78
Price to Tangible Book Value (P/TBV)	10.26	6.30	9.47	9.32	6.80	6.60	6.26	3.93	4.66	4.70	4.36
Price to Revenue (P/Rev)	2.04	1.30	2.17	2.27	1.69	1.73	2.18	1.41	1.75	1.84	1.63
Price to Earnings (P/E)	0.00	0.00	4,860.84	135.45	58.45	39.24	18.18	12.87	14.12	14.05	30.29
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.02%	0.74%	1.71%	2.55%	5.50%	7.77%	7.08%	7.12%	3.30%
Enterprise Value to Invested Capital (EV/IC)	2.36	1.57	2.57	2.86	2.15	2.18	2.58	1.61	1.96	2.09	1.86
Enterprise Value to Revenue (EV/Rev)	1.98	1.22	2.15	2.22	1.63	1.66	2.13	1.35	1.68	1.72	1.55
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	2,332.89	230.33	0.00	361.01	117.06	35.70
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	149.23	54.49	36.79	54.24	45.94	46.89	37.52	20.62
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	108.76	56.88	27.21	13.84	17.72	18.94	28.46
Enterprise Value to Operating Cash Flow (EV/OCF)	83.32	26.84	466.78	171.26	54.66	44.19	30.04	23.87	33.27	20.92	14.54
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	153.24	0.00	0.00	65.37	36.79
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.28	0.28	0.31	0.27	0.37	0.36	0.36	0.27	0.26	0.35	0.39
Long-Term Debt to Equity	0.25	0.28	0.27	0.19	0.29	0.30	0.30	0.27	0.19	0.27	0.30
Financial Leverage	-0.07	-0.08	-0.02	-0.07	-0.07	-0.09	-0.04	-0.06	-0.07	-0.11	-0.08
Leverage Ratio	1.73	1.80	1.79	1.84	1.85	1.83	1.75	1.78	1.80	1.78	1.76
Compound Leverage Factor	1.67	0.66	-0.19	1.91	1.87	1.75	-3.82	1.66	2.52	1.86	0.67
Debt to Total Capital	21.74%	22.00%	23.46%	21.11%	26.75%	26.20%	26.32%	21.09%	20.81%	25.73%	28.08%
Short-Term Debt to Total Capital	2.34%	0.23%	3.08%	5.85%	5.55%	4.21%	4.11%	0.00%	6.05%	5.72%	6.62%
Long-Term Debt to Total Capital	19.40%	21.77%	20.37%	15.26%	21.20%	21.99%	22.21%	21.09%	14.76%	20.02%	21.46%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.10%	0.08%	-0.01%	-0.02%	-0.03%	-0.04%	-0.11%	-0.13%	-0.12%	-0.11%	-0.11%
Common Equity to Total Capital	78.16%	77.93%	76.55%	78.90%	73.29%	73.84%	73.79%	79.04%	79.31%	74.38%	72.04%
Debt to EBITDA	-11.88	-13.42	-6.67	-12.28	-38.92	416.60	34.08	-208.25	52.30	22.09	8.23
Net Debt to EBITDA	2.96	4.46	0.43	3.02	7.80	-102.37	-6.12	49.50	-14.47	-7.81	-1.90
Long-Term Debt to EBITDA	-10.61	-13.28	-5.79	-8.88	-30.84	349.59	28.76	-208.25	37.09	17.18	6.29
Debt to NOPAT	-21.88	-25.35	-29.35	-251.88	19.97	10.16	4.03	2.46	2.57	3.57	6.56
Net Debt to NOPAT	5.45	8.43	1.90	62.02	-4.00	-2.50	-0.72	-0.58	-0.71	-1.26	-1.52
Long-Term Debt to NOPAT	-19.53	-25.09	-25.49	-182.04	15.82	8.52	3.40	2.46	1.82	2.78	5.02
Altman Z-Score	2.70	2.01	2.93	2.83	2.28	2.57	3.14	2.49	2.82	2.74	2.53
Noncontrolling Interest Sharing Ratio	0.17%	0.15%	0.07%	0.06%	0.04%	0.02%	-0.09%	-0.09%	-0.10%	-0.11%	-0.16%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.92	1.91	2.01	1.64	1.82	2.07	2.33	2.27	1.96	2.18	2.20
Quick Ratio	0.91	0.87	1.02	0.66	0.93	1.09	1.29	1.21	0.96	1.25	1.26
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-894	-745	-1,846	-1,245	-1,107	-1,734	-1,460	-2,083	-2,238	-1,234	-21
Operating Cash Flow to CapEx	383.84%	1,303.45%	-1,543.55%	1,529.46%	1,354.10%	1,209.85%	51.12%	418.22%	1,195.54%	2,865.10%	1,507.28%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.66	0.67	0.68	0.68	0.69	0.69	0.69	0.66	0.64	0.63	0.63
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	70.09	0.00	0.00	0.00	79.02	0.00	0.00	0.00	75.87
Accounts Payable Turnover	2.56	2.36	0.00	2.16	2.24	2.38	0.00	1.95	1.92	2.19	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	142.82	154.56	0.00	168.98	162.69	153.45	0.00	187.27	189.69	166.81	0.00
Cash Conversion Cycle (CCC)	-142.82	-154.56	0.00	-168.98	-162.69	-153.45	0.00	-187.27	-189.69	-166.81	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	16,540	16,159	18,321	17,717	17,881	18,172	19,871	20,074	20,514	19,721	20,170
Invested Capital Turnover	1.22	1.32	1.24	1.35	1.37	1.39	1.26	1.27	1.24	1.27	1.21
Increase / (Decrease) in Invested Capital	802	738	1,361	1,477	1,341	2,014	1,550	2,356	2,633	1,548	299
Enterprise Value (EV)	39,061	25,348	47,126	50,686	38,372	39,580	51,281	32,261	40,135	41,268	37,519
Market Capitalization	40,268	27,002	47,500	51,940	39,793	41,328	52,678	33,656	41,778	44,055	39,553
Book Value per Share	$29.34	$29.20	$30.44	$30.78	$31.28	$32.36	$34.31	$34.66	$36.03	$36.92	$36.54
Tangible Book Value per Share	$6.49	$7.02	$8.16	$9.05	$9.48	$10.18	$13.58	$13.84	$14.59	$15.38	$14.93
Total Capital	22,705	22,858	24,421	24,044	26,338	26,977	28,822	27,162	27,938	30,260	30,824
Total Debt	4,935	5,028	5,728	5,077	7,045	7,068	7,587	5,727	5,815	7,786	8,654
Total Long-Term Debt	4,405	4,976	4,975	3,669	5,583	5,931	6,403	5,727	4,124	6,057	6,614
Net Debt	-1,230	-1,672	-371	-1,250	-1,412	-1,737	-1,364	-1,361	-1,609	-2,753	-2,000
Capital Expenditures (CapEx)	30	38	52	32	38	57	27	32	31	51	41
Debt-free, Cash-free Net Working Capital (DFCFNWC)	2,265	2,127	3,840	3,118	3,065	3,067	4,039	3,937	3,904	3,150	4,048
Debt-free Net Working Capital (DFNWC)	8,132	8,400	9,689	9,445	11,523	11,872	12,518	11,026	11,327	13,689	14,513
Net Working Capital (NWC)	7,602	8,348	8,936	8,037	10,061	10,735	11,333	11,026	9,636	11,960	12,472
Net Nonoperating Expense (NNE)	13	87	-567	-239	44	-0.99	-1,835	85	-143	-147	162
Net Nonoperating Obligations (NNO)	-1,230	-1,672	-371	-1,250	-1,412	-1,737	-1,364	-1,361	-1,609	-2,753	-2,000
Total Depreciation and Amortization (D&A)	-42	-20	-522	-169	-174	-194	-186	-176	-189	-196	-207
Debt-free, Cash-free Net Working Capital to Revenue	11.50%	10.23%	17.52%	13.63%	13.04%	12.85%	16.75%	16.45%	16.38%	13.14%	16.73%
Debt-free Net Working Capital to Revenue	41.30%	40.40%	44.21%	41.27%	49.03%	49.75%	51.90%	46.06%	47.52%	57.10%	59.99%
Net Working Capital to Revenue	38.61%	40.15%	40.77%	35.12%	42.81%	44.99%	46.99%	46.06%	40.43%	49.89%	51.55%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.20)	($0.05)	$0.18	$0.77	$0.32	$0.46	$3.15	$0.31	$0.88	$0.76	$0.18
Adjusted Weighted Average Basic Shares Outstanding	606.69M	611.28M	608.86M	616.40M	617.67M	616.43M	616.99M	619.37M	612.88M	610.20M	612.24M
Adjusted Diluted Earnings per Share	($0.20)	($0.05)	$0.18	$0.74	$0.31	$0.45	$3.06	$0.30	$0.87	$0.74	$0.19
Adjusted Weighted Average Diluted Shares Outstanding	606.69M	611.28M	614.02M	637.36M	634.22M	632.76M	636.39M	635.34M	618.93M	621.66M	622.84M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	610.08M	614.09M	615.69M	617.04M	615.65M	619.81M	619.48M	615.02M	609.58M	607.67M	599.10M
Normalized Net Operating Profit after Tax (NOPAT)	-92	-6.94	-91	232	234	280	9.11	274	395	314	278
Normalized NOPAT Margin	-1.67%	-0.12%	-1.58%	3.90%	3.80%	4.69%	0.15%	4.74%	6.53%	5.14%	4.44%
Pre Tax Income Margin	-2.05%	-0.22%	0.38%	8.50%	4.04%	5.42%	4.60%	3.93%	10.89%	9.84%	3.23%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	-742.34%	115.55%	123.00%	111.74%	40.83%	52.76%	56.81%	55.36%	178.70%

Financials Breakdown Chart

Key Financial Trends

Below is a concise, data-driven look at Block, Inc. (NYSE: XYZ) using quarterly statements from 2022 through 2025. The focus is on trends in revenue, margins, cash flow, and balance-sheet liquidity to help retail investors gauge the company’s recent operating performance and financial position.

Revenue has trended higher through 2025, with Q4 2025 total revenue of about $6.25B, up from roughly $5.77B in Q1 2025.
Gross margin improved meaningfully in 2025, with Q4 2025 gross profit around $2.87B on $6.25B in revenue (roughly 46%), up from about 38%+ in Q4 2024.
Operating income improved sharply in Q4 2025 to about $485.4M, versus a much smaller amount in Q4 2024, signaling better operating leverage as revenue rose.
Net income to common shareholders remained positive across 2025 quarters (examples: Q1 2025 ≈ $189.9M; Q2 2025 ≈ $538.5M; Q3 2025 ≈ $461.5M; Q4 2025 ≈ $115.8M), suggesting continued profitability despite quarterly fluctuations.
Cash flow from operating activities stayed solid in 2025, with Q3 2025 net cash from continuing operating activities around $1.45B and Q4 2025 around $621M, indicating durable cash generation from core operations.
Block ended 2025 with a large cash balance (cash and equivalents around $8.3B in Q3 2025), providing a liquidity cushion for growth investments and near-term obligations.

Total equity remained robust (roughly $22.5B in 2025 mid-year), supporting a solid equity cushion relative to liabilities.
Weighted-average shares outstanding have stayed in the 600–620M range across 2025 quarters, contributing to relatively stable earnings-per-share dispersion, though per-share results vary by quarter.
Investing activities consistently consume cash in several quarters (for example, large purchases of investments in 2025 and sizable net cash used for investing), which is common for growth-focused tech and payments players but can offset operating cash gains on a quarterly basis.

Net cash used in investing activities was sizable in some periods (e.g., Q4 2025 net cash from continuing investing activities around -$2.13B, driven by large investment purchases), which weighed on overall cash flow.
The single-quarter net change in cash was negative in Q4 2025 (about -$1.46B), reflecting the combination of investing and financing outflows despite positive operating cash flow in that period.
Total liabilities remained substantial (around $16.7B–$16.9B across 2025 quarters), indicating a comparatively high leverage profile relative to quarterly net income, despite a strong equity base.

05/06/26 07:44 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Block's Financials

When does Block's fiscal year end?

According to the most recent income statement we have on file, Block's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

How has Block's net income changed over the last 10 years?

Block's net income appears to be on an upward trend, with a most recent value of $1.30 billion in 2025, falling from -$179.82 million in 2015. The previous period was $2.87 billion in 2024. View Block's forecast to see where analysts expect Block to go next.

What is Block's operating income?

Block's total operating income in 2025 was $1.71 billion, based on the following breakdown:

Total Gross Profit: $10.36 billion
Total Operating Expenses: $8.65 billion

How has Block's revenue changed over the last 10 years?

Over the last 10 years, Block's total revenue changed from $1.27 billion in 2015 to $24.19 billion in 2025, a change of 1,809.3%.

How much debt does Block have?

Block's total liabilities were at $17.38 billion at the end of 2025, a 11.8% increase from 2024, and a 4,394.2% increase since 2015.

How much cash does Block have?

In the past 10 years, Block's cash and equivalents has ranged from $452.03 million in 2016 to $8.08 billion in 2024, and is currently $6.56 billion as of their latest financial filing in 2025.

How has Block's book value per share changed over the last 10 years?

Over the last 10 years, Block's book value per share changed from 2.98 in 2015 to 36.54 in 2025, a change of 1,126.3%.

Related Companies

Financial statements for NYSE:XYZ last updated on 2/27/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Block (XYZ) Financials

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Block (XYZ) Financials

Annual Income Statements for Block

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Quarterly Metrics And Ratios for Block

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Key Financial Trends

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