Block Inc
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Block Inc AI Insights
Informational only. Not investment advice.Snapshot
- Goodwill of 11.8B is 52% of equity (22.5B) - acquisition-heavy model creates impairment risk if Cash App or Afterpay underperform[Goodwill]
- EPS 3Y CAGR of 79% vs industry median 16% - margin expansion driving outsized earnings growth on 24B TTM revenue[EPS Growth 3Y]
- Net income 3.1B exceeds operating income 2.3B by 800M - non-operating gains inflating earnings quality[Net Income TTM]
Watch Triggers
- Gross Margin TTM: Falls below 38% — Bitcoin revenue mix increasing would compress margins further, signaling core business weakness
- Goodwill: Impairment charge announced — 11.8B goodwill writedown would materially impact book value and signal acquisition failures
- Operating Margin TTM: Expands above 12% — Confirms operating leverage thesis and validates R&D investment payoff
Bull Case
12B working capital with 13.1B cash provides strategic flexibility for M&A or buybacks at 0.36 debt/equity - fortress balance sheet
P/E of 11.2x vs industry median 29.6x despite 79% EPS growth - valuation disconnect if growth sustains
Bear Case
Gross margin 40.9% vs industry median 70.5% reflects Bitcoin pass-through economics - structurally lower margin business
Net income 1.4B above pretax income signals tax benefits/one-time items - earnings quality questionable
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
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Forward Thesis
Operating leverage to expand margins as R&D (3B TTM) scales across larger revenue base
- R&D at 12% of revenue vs 9.6% operating margin
- Platform economics favor incremental margin expansion
- Cash App monetization still early
Valuation Context
Caveats
XYZ Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$45.07B | — | ||
$40.4B | — | ||
59 | — | ||
$24.48B | +2.3% | — | |
$1.28 | -30.0% | — | |
11.7% | +4.3% | — | |
3.30% | -7.6% | — | |
$3.26B | +172.1% | — | |
3.74% | -9.2% | — | |
Beta 5Y (Monthly) | unknown | — |
XYZ Dividend History
XYZ Stock Splits
XYZ SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
05/07/26 | 03/31/26 | 10-Q | |
02/26/26 | 12/31/25 | Unknown | |
11/06/25 | 09/30/25 | 10-Q | |
08/07/25 | 06/30/25 | 10-Q | |
05/01/25 | 03/31/25 | 10-Q | |
02/24/25 | 12/31/24 | 10-K | |
11/07/24 | 09/30/24 | 10-Q | |
08/01/24 | 06/30/24 | 10-Q | |
05/02/24 | 03/31/24 | 10-Q | |
02/22/24 | 12/31/23 | 10-K | |
11/02/23 | 09/30/23 | 10-Q | |
08/03/23 | 06/30/23 | 10-Q | |
05/04/23 | 03/31/23 | 10-Q | |
02/23/23 | 12/31/22 | 10-K | |
11/03/22 | 09/30/22 | 10-Q | |
08/04/22 | 06/30/22 | 10-Q | |
05/05/22 | 03/31/22 | 10-Q | |
02/24/22 | 12/31/21 | 10-K | |
11/04/21 | 09/30/21 | 10-Q | |
08/02/21 | 06/30/21 | 10-Q | |
05/06/21 | 03/31/21 | 10-Q | |
02/23/21 | 12/31/20 | 10-K | |
11/05/20 | 09/30/20 | 10-Q | |
08/05/20 | 06/30/20 | 10-Q | |
05/06/20 | 03/31/20 | 10-Q | |
02/26/20 | 12/31/19 | 10-K | |
11/06/19 | 09/30/19 | 10-Q | |
08/01/19 | 06/30/19 | 10-Q | |
05/01/19 | 03/31/19 | 10-Q | |
02/27/19 | 12/31/18 | 10-K | |
11/07/18 | 09/30/18 | 10-Q | |
08/01/18 | 06/30/18 | 10-Q | |
05/02/18 | 03/31/18 | 10-Q | |
02/27/18 | 12/31/17 | 10-K | |
11/08/17 | 09/30/17 | 10-Q | |
08/02/17 | 06/30/17 | 10-Q | |
05/04/17 | 03/31/17 | 10-Q | |
02/27/17 | 12/31/16 | 10-K | |
11/02/16 | 09/30/16 | 10-Q | |
08/04/16 | 06/30/16 | 10-Q | |
05/06/16 | 03/31/16 | 10-Q | |
03/10/16 | 12/31/15 | 10-K | |
11/19/15 | 09/30/15 | 424B4 | |
10/14/15 | 06/30/15 | S-1 | |
05/06/16 | 03/31/15 | 10-Q | |
11/19/15 | 12/31/14 | 424B4 | |
09/30/14 | 09/30/14 | Unknown | -- |