XYZ (Block, Inc.) Stock Financials & Earnings | Market Cap Arena

XYZ (Block, Inc.) Stock Financials & Earnings | Market Cap Arena

XYZBlock, Inc.

Mkt Cap$40B

Technology·Software - Infrastructure·🇺🇸 United States·NYSE

Revenue (TTM)$24.2B

Net Income (TTM)$1.3B

EPS (TTM)$2.10

Free Cash Flow (TTM)$2.4B

Gross Margin42.8%

Op. Margin7.1%

Net Margin5.4%

FCF Margin10.0%

P/S Ratio (TTM)1.7x

P/E Ratio (TTM)30.9x

YoY Rev Growth+0.3%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$5.0B	$1.7B	$123M
Q2 23	$5.5B	$1.8B	$150M
Q3 23	$5.6B	$1.8B	$171M
Q4 23	$5.8B	$2.0B	$167M
Q1 24	$6.0B	$2.1B	$250M
Q2 24	$6.2B	$2.2B	$533M
Q3 24	$6.0B	$2.2B	$323M
Q4 24	$6.0B	$2.3B	$461M
Q1 25	$5.8B	$2.3B	$499M
Q2 25	$6.1B	$2.5B	$484M
Q3 25	$6.1B	$2.7B	$409M
Q4 25	$6.3B	$2.9B	$315M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	2.2x	—
Q2 23	2.0x	—
Q3 23	1.9x	—
Q4 23	1.8x	471.3x
Q1 24	1.8x	87.8x
Q2 24	1.7x	53.3x
Q3 24	1.7x	35.7x
Q4 24	1.7x	13.9x
Q1 25	1.7x	15.4x
Q2 25	1.7x	13.6x
Q3 25	1.7x	12.9x
Q4 25	1.7x	30.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$294M	$262M
Q2 23	$113M	$84M
Q3 23	$491M	$453M
Q4 23	-$798M	-$850M
Q1 24	$489M	$457M
Q2 24	$519M	$481M
Q3 24	$685M	$628M
Q4 24	$14M	-$13M
Q1 25	$133M	$101M
Q2 25	$374M	$343M
Q3 25	$1.5B	$1.4B
Q4 25	$621M	$580M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$32M
Q2 23	$30M
Q3 23	$38M
Q4 23	$52M
Q1 24	$32M
Q2 24	$38M
Q3 24	$57M
Q4 24	$27M
Q1 25	$32M
Q2 25	$31M
Q3 25	$51M
Q4 25	$41M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+26.0%	+16.2%
Q2 23	+25.7%	+21.7%
Q3 23	+24.4%	+23.4%
Q4 23	+24.1%	+22.4%
Q1 24	+19.4%	+17.3%
Q2 24	+11.2%	+4.4%
Q3 24	+6.4%	+3.8%
Q4 24	+4.5%	-0.6%
Q1 25	-3.1%	-7.6%
Q2 25	-1.6%	-0.9%
Q3 25	+2.3%	+0.9%
Q4 25	+3.6%	+6.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$280M	5.6%
Q2 23	$319M	5.8%
Q3 23	$346M	6.2%
Q4 23	$332M	5.7%
Q1 24	$311M	5.2%
Q2 24	$321M	5.2%
Q3 24	$324M	5.4%
Q4 24	$317M	5.3%
Q1 25	$315M	5.5%
Q2 25	$297M	4.9%
Q3 25	$309M	5.1%
Q4 25	$294M	4.7%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 23	$627M	—	—	$927M
Q2 23	$695M	—	—	$985M
Q3 23	$714M	—	—	$957M
Q4 23	$685M	—	—	$1.1B
Q1 24	$721M	$471M	$444M	—
Q2 24	$713M	—	—	$947M
Q3 24	$711M	$476M	$512M	—
Q4 24	$770M	—	—	$1.0B
Q1 25	$761M	—	—	$996M
Q2 25	$725M	$449M	$550M	—
Q3 25	$711M	$533M	$599M	—
Q4 25	—	$1.0B	—	—

Rule of 40

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 23	26.0%	3.4%	29.4
Q2 23	25.7%	-0.3%	25.3
Q3 23	24.4%	1.8%	26.2
Q4 23	24.1%	3.7%	27.8
Q1 24	19.4%	8.6%	28.0
Q2 24	11.2%	5.6%	16.8
Q3 24	6.4%	10.2%	16.5
Q4 24	4.5%	6.3%	10.8
Q1 25	-3.1%	5.8%	2.7
Q2 25	-1.6%	14.4%	12.7
Q3 25	2.3%	14.1%	16.5
Q4 25	3.6%	13.8%	17.4

Revenue Segments

Quarter	Cryptocurrency Denominated Assets	Hardware	Software and Data Products	Transaction
Q1 23	$2.2B	$37M	$1.4B	$1.4B
Q2 23	$2.4B	$45M	$1.5B	$1.6B
Q3 23	$2.4B	$42M	$1.5B	$1.7B
Q4 23	$2.5B	$32M	$1.6B	$1.6B
Q1 24	$2.7B	$33M	$1.7B	$1.5B
Q2 24	$2.6B	$43M	$1.8B	$1.7B
Q3 24	$2.4B	$37M	$1.8B	$1.7B
Q4 24	$2.4B	$31M	$1.9B	$1.7B
Q1 25	$2.3B	$29M	$1.9B	$1.6B
Q2 25	$2.1B	$40M	$2.1B	$1.8B
Q3 25	$2.0B	$70M	$2.2B	$1.9B

Revenue by Geography

Quarter	Non-US	United States
Q1 23	$325M	$4.7B
Q2 23	$363M	$5.2B
Q3 23	$390M	$5.2B
Q4 23	$421M	$5.4B
Q1 24	$391M	$5.6B
Q2 24	$424M	$5.7B
Q3 24	$456M	$5.5B
Q4 24	$499M	$5.5B
Q1 25	$424M	$5.3B
Q2 25	$492M	$5.6B
Q3 25	$530M	$5.6B
Q4 25	$561M	$5.7B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$8.9B	$1.0B	$9.9B
Q2 23	$8.1B	$1.1B	$9.2B
Q3 23	$8.0B	$1.2B	$9.2B
Q4 23	$8.2B	$1.2B	$9.4B
Q1 24	$9.8B	$615M	$10.4B
Q2 24	$11.3B	$697M	$12.0B
Q3 24	$12.2B	$562M	$12.8B
Q4 24	$12.3B	$491M	$12.7B
Q1 25	$12.3B	$427M	$12.8B
Q2 25	$11.3B	$397M	$11.7B
Q3 25	$13.1B	$449M	$13.6B
Q4 25	$6.6B	$518M	$7.1B

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	602M	+0.6%
Q2 23	607M	+0.7%
Q3 23	611M	+0.8%
Q4 23	629M	+2.9%
Q1 24	637M	+1.3%
Q2 24	634M	-0.5%
Q3 24	633M	-0.2%
Q4 24	639M	+1.0%
Q1 25	635M	-0.6%
Q2 25	619M	-2.6%
Q3 25	622M	+0.4%
Q4 25	623M	+0.2%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	—	—
FY 15	$874K	1K
FY 16	$922K	2K
FY 17	$947K	2K
FY 18	$985K	3K
FY 19	$1M	4K
FY 20	$2M	5K
FY 21	$2M	9K
FY 22	$1M	12K
FY 23	$2M	13K
FY 24	$2M	11K
FY 25	$2M	10K