Block, Inc. (XYZ) intrinsic value & 10-year financials
Block, Inc. (XYZ) has a Graham intrinsic value of $69.75 per share. At $77.89 on Oct 17, 2026, the stock trades 12% above that value. Over the last 10 fiscal years revenue grew 34.2% a year to $24.2B, with an average return on invested capital of -14.6%.
- Graham intrinsic value
- $69.75
- Share price (Oct 17, 2026)
- $77.89
- Price vs Graham value
- 12% above
- Market cap
- $48.5B
- Revenue (FY2025)
- $24.2B
- Revenue growth (10-yr CAGR)
- 34.2%
- ROIC (10-yr avg)
- -14.6%
- Free cash flow (FY2025)
- $2.4B
XYZ 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $24.2B | $1.3B | $2.10 | $2.4B | 7.1% | 9.0% |
| FY2024 | $24.1B | $2.9B | $4.56 | $1.6B | 3.7% | 6.5% |
| FY2023 | $21.9B | $9.8M | $0.02 | -$50.2M | -1.3% | -1.8% |
| FY2022 | $17.5B | -$540.7M | -$0.93 | $5.1M | -3.6% | -5.8% |
| FY2021 | $17.7B | $166.3M | $0.33 | $713.5M | 0.9% | 5.1% |
| FY2020 | $9.5B | $213.1M | $0.44 | $243.2M | -0.2% | -0.9% |
| FY2019 | $4.7B | $375.4M | $0.81 | $403.2M | 0.6% | 1.7% |
| FY2018 | $3.2B | -$38.5M | -$0.09 | $233.9M | -1.1% | -3.9% |
| FY2017 | $2.2B | -$62.8M | -$0.17 | $101.6M | -2.4% | -18.9% |
| FY2016 | $1.7B | -$171.6M | -$0.50 | -$2.3M | -10.0% | -137.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Block, Inc. is a consistent compounder, expanding top-line revenue at 34.2% annually over the past decade.
Block, Inc. has historically struggled to out-earn its cost of capital, averaging just -14.6% ROIC.
Block, Inc. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Block, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $69.75 per share.