Block - Public Comps and Valuation Multiples

Block Overview

About Block

Founded in 2009, Block provides payment services to merchants, along with related services. The company also launched Cash App, a person-to-person payment network. In 2024, Square's payment volume was almost USD 250 million.

Founded

2009

HQ

Employees

11.4K+

Website

block.xyz

Sectors

Blockchain & Crypto
FinTech Infrastructure
Payment Service Providers
Payments POS
BNPL
FinTech

Financials

LTM Revenue $24.6B

LTM EBITDA $3.4B

EV

$40.2B

Valuation Multiples

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Block Financials

As of September 2025, Block reported last 12-month revenue of $24.6B and EBITDA of $3.4B.

In the same period, Block generated $9.9B in LTM gross profit and $1.7B in net income.

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Block P&L

In the most recent fiscal year, Block reported revenue of $24.1B and EBITDA of $2.1B.

Block expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$24.6B	XXX	$24.1B	XXX	XXX	XXX
Gross Profit	$9.9B	XXX	$8.9B	XXX	XXX	XXX
Gross Margin	40%	XXX	37%	XXX	XXX	XXX
EBITDA	$3.4B	XXX	$2.1B	XXX	XXX	XXX
EBITDA Margin	14%	XXX	9%	XXX	XXX	XXX
EBIT	$1.6B	XXX	$1.7B	XXX	XXX	XXX
EBIT Margin	6%	XXX	7%	XXX	XXX	XXX
Net Profit	$1.7B	XXX	$2.9B	XXX	XXX	XXX
Net Margin	7%	XXX	12%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Block including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $24.6B. EBITDA for the last twelve months was $3.4B. In the most recent fiscal year, Block achieved $24.1B in revenue and $2.1B in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$24.6B	Analyst estimates available to subscribers	$24.1B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$9.9B	Analyst estimates available to subscribers	$8.9B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	40.2% gross margin	Analyst estimates available to subscribers	36.9% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$3.4B	Analyst estimates available to subscribers	$2.1B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	13.7% EBITDA margin	Analyst estimates available to subscribers	8.6% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$1.6B	Analyst estimates available to subscribers	$1.7B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	6.3% EBIT margin	Analyst estimates available to subscribers	7.0% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$1.7B	Analyst estimates available to subscribers	$2.9B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	6.9% net profit margin	Analyst estimates available to subscribers	12.0% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Block

This financial data table provides comprehensive performance metrics for Block, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Block generated $24.6B in revenue over the last twelve months.
The company achieved $3.4B in EBITDA over the last twelve months.
Gross profit for the last twelve months was $9.9B.
Net income over the last twelve months reached $1.7B.

Fiscal Year Performance

In the most recent fiscal year, Block reported $24.1B in total revenue.
Fiscal year EBITDA was $2.1B.
The company maintained a gross profit margin of 36.9% in the most recent fiscal year.
EBITDA margin for the fiscal year was 8.6%.
Net profit margin reached 12.0% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Block. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Block Stock Performance

Block has current market cap of $45.8B, and EV of $40.2B.

Market Cap Evolution

Block Stock Data

As of October 17, 2025, Block's stock price is $75.

See Block trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$40.2B	$45.8B	XXX	XXX	XXX	XXX	$2.75

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Block Valuation Multiples

Block's trades at 1.7x EV/Revenue multiple, and 19.5x EV/EBITDA.

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Block Financial Valuation Multiples

As of October 17, 2025, Block has market cap of $45.8B and EV of $40.2B.

Equity research analysts estimate Block's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Block has a P/E ratio of 26.9x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$45.8B	XXX	$45.8B	XXX	XXX	XXX
EV (current)	$40.2B	XXX	$40.2B	XXX	XXX	XXX
EV/Revenue	1.6x	XXX	1.7x	XXX	XXX	XXX
EV/EBITDA	11.9x	XXX	19.5x	XXX	XXX	XXX
EV/EBIT	25.8x	XXX	23.9x	XXX	XXX	XXX
EV/Gross Profit	4.1x	XXX	n/a	XXX	XXX	XXX
P/E	26.9x	XXX	15.8x	XXX	XXX	XXX
EV/FCF	22.1x	XXX	25.9x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Block Margins & Growth Rates

Block's last 12 month revenue growth is 9%

Block's revenue per employee in the last FY averaged $2.1M, while opex per employee averaged $0.6M for the same period.

Block's rule of 40 is 12% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Block's rule of X is 35% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Block Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	9%	XXX	6%	XXX	XXX	XXX
EBITDA Margin	14%	XXX	9%	XXX	XXX	XXX
EBITDA Growth	20%	XXX	109%	XXX	XXX	XXX
Rule of 40	12%	XXX	17%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	35%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$2.1M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.6M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	8%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	12%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	30%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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