XYZ
Block, Inc.
Technology • CIK: 0001512673
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Market Cap
$44.44B
P/E (TTM)
14.1x
Rev Growth (TTM)
+0.5%
Net Margin (TTM)
13.1%
FCF Yield (TTM)
4.1%
FCF Margin (TTM)
7.6%
Cash Flow Health
Free Cash Flow6/8 positive
TTM$1.8B
Q3 '25
$1.4B+308%
Q2 '25
$343M+238%
FCF Margin
TTM7.6%
Q3 '2522.9%+304%
Sector: 14.5%Below Avg
OCF Margin8.2%
OCF/NI0.63x
CapEx Coverage14.0x
FCF Yield4.1%
FCF Growth (2Y)+122%
Cash Conversion Cycle
3 days
DSO: 2+DIO: 3−DPO: 3
Capital Allocation & Returns
Balanced
Total Shareholder YieldTTM
TTM3.9%
Div Yield0.0%
+Buyback (TTM)3.9%
Balancing returns with reinvestment
Dividend & Payout Metrics
Dividend Yield (TTM)0.0%
Free Cash Flow (TTM)$1.8B
Stock Repurchases (TTM)$1.7B
Capital Return / FCF94.1%
Est. Dividends Paid (TTM)$0
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
22.6%
Stable
+1.6% YoY+13.6%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
8.1%
8Q: 4.3%
Asset Turnover
0.65x
8Q: 0.66x
Leverage (1+D/E)
1.00x
D/E: 0.00x
DuPont: 5.2% ≈ 22.6% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
75.50x
8Q:76.45x
-58.9%
Invested Cap Turn
2.80x
8Q:2.72x
+18.0%
CapEx Intensity
1.6%
8Q:1.8%
CapEx/Depreciation
0.39x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $24.0B | $6.1B↑1.0% | $6.1B↑4.9% | $5.8B↓4.3% | $6.0B↑0.9% | $6.0B↓2.9% | $6.2B↑3.3% | $6.0B↑3.2% | $5.8B |
Operating Income | $1.2B | $409.4M↓15.5% | $484.3M↑47.1% | $329.3M↑2430.6% | $13.0M↓96.0% | $323.0M↑5.4% | $306.6M↑22.8% | $249.7M↑291.2% | $-130.7M |
Net Income | $3.1B | $461.5M↓14.3% | $538.5M↑183.6% | $189.9M↓90.2% | $1.9B↑585.8% | $283.8M↑45.3% | $195.3M↓58.6% | $472.0M↑361.7% | $102.2M |
Operating Cash Flow | $2.0B | $1.5B↑287.6% | $374.3M↑180.7% | $133.3M↑866.2% | $13.8M↓98.0% | $684.8M↑31.8% | $519.4M↑6.1% | $489.4M↑161.3% | $-797.9M |
Free Cash Flow | $1.8B | $1.4B↑308.3% | $343.0M↑238.1% | $101.5M↑869.0% | $-13.2M↓102.1% | $628.2M↑30.6% | $481.0M↑5.2% | $457.4M↑153.8% | $-849.6M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
14.1x
Valuation Lenses
Earnings
14.1x
vs – sector
Cash Flow
-7.1x
EV/FCF vs –
Growth-Adj
0.1xPEG
Undervalued for growth
Quality-Adj
0.6P/E per %ROIC
ROIC: 22.6%
Shareholder Returns
Dividend
–
Buyback
3.9%
Total Yield
3.9%
Market Cap$44.44B
EV–
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
79/100
High Quality
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Above Avg
14.6%
8Q:–
Return on Invested Capital (ROIC)Top 25%
22.6%
8Q:–
+13.6%
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 8.1%
Asset Turnover: 0.65x
Earnings Quality
Cash Conversion
0.63x
OCF / Net Income
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin40.9%
Capital Efficiency
Invested Capital Turnover2.80x
Working Capital
Cash Conversion Cycle3 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
60/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
0.5%
OpInc Growth YoY
26.8%
EPS Growth YoY
197.6%
FCF 3Y CAGR
122.2%
Growth Quality Analysis
✓Efficient Growth: Free cash flow growing faster than revenue
Margin Quality & Sustainability
Low Quality
Profitability Cascade
Gross
40.9%
Operating
5.2%
Below Avg in sector
Net
13.1%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
-5.4 pts
FCF: 7.6% | Net: 13.1%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $13.95B
Interest Coverage
–
+Net cash position: $13.95B
Leverage Metrics
Debt-to-Equity
0.00x
Balance sheet risk & solvency analysis