BlockXYZRevenue: is the business selling more than it used to?
$24.2B+0% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Revenue reached $24.2B in 2025, compounding +11% a year since 2022 though the pace has cooled. The last twelve months (+5%) ran below that pace, so growth is slowing. The trailing twelve months are already running at $25.0B, ahead of the last full year.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlockXYZNet income: how much of that revenue becomes profit?
$1.3B−55% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Net income was $1.3B in 2025, against $2.9B the year before. Earnings per share moved -88% over the last twelve months. Trailing twelve-month profit stands at $357M.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlockXYZHow fast is it growing, year by year?
+0.3%revenue growth, FY 2025
Off the axis: 2022 earnings -425.2% · 2024 earnings +29546.4% - rebounds off a collapsed prior year.
→Revenue grew +0% in 2025 against a five-year average of +24%. Earnings went the other way (-55%) even as sales grew, so margins compressed: costs rose faster than revenue. 2022's swing into loss (-425%) and 2024's +29546% earnings rebound off a collapsed base sits off the axis.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlockXYZRevenue per share: is your slice growing as fast as the company?
$38.84revenue per share, FY 2025
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Revenue per share reached $38.84 in 2025, compounding +9% a year against +11% for XYZ as a whole. Dilution absorbed about 2.7 points of that growth. Free cash flow per share stands at $3.89.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlockXYZFree cash flow: what is left in real cash after everything?
$2.4B+56% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Free cash flow was $2.4B in 2025, compounding +681% a year since 2022. That is the most cash the business has ever thrown off in a year. The trailing twelve months stand at $3.9B.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlockXYZWhere does each dollar of revenue actually go?
→Of $24.2B in 2025 sales, $1.3B reaches net profit - 5 cents on the dollar. The largest single deduction is producing the product ($13.8B).
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlockXYZHow much of every sales dollar ends up as free cash?
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→10 cents of every sales dollar became free cash in 2025, up 10 points since 2022 - the best conversion in its filed history.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlockXYZWhat does staying competitive cost, per dollar of sales?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→The biggest claim on each sales dollar is research and development, at 12% of revenue (stock compensation 5%, capital spending 1%).
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlockXYZMargins: of every $1 of sales, how much survives each cost layer?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Operating margin widened 11 points to 7% since 2022. After everything, 5 cents of each sales dollar reaches net profit.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlockXYZWhat does it earn on the money it uses?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→ROE of 2% and ROCE of 6% sit close together, so the returns come from the business itself rather than from borrowing.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlockXYZWhat has the market paid for XYZ over time?
144.3xP/E today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→At 144.3x earnings, the market is paying 47% less than XYZ's own 6-year median of 273.5x. Pessimism is priced in - the question is whether it is deserved.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlockXYZWhat cash return does the business throw off per dollar of market value?
7.8%FCF yield today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→Every dollar of market value currently buys 7.8% of annual free cash flow, more than its 10-year median of 0.8% - the cash is cheaper than usual.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlockXYZCould it handle its debt if things went wrong?
→The company holds $6.4B in cash against $5.7B of debt - a net-cash balance sheet, which means a bad year is an inconvenience rather than a threat.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlockXYZIs the company's own capital growing?
→The company's own capital grew from $18.7B in 2023 to $22.0B (+18%). The business is building book value rather than consuming it.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlockXYZHow much goes back, and how much leaks out as stock comp?
→Shareholders received $2.3B in buybacks in 2025. Stock compensation issued $1.2B of new shares in the same year, offsetting 52% of that.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlockXYZHow fast is your ownership being diluted - or concentrated?
→The share count shrank 2.1% in 2025. Buybacks are concentrating your ownership: the same business, split fewer ways.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlockXYZDoes XYZ earn more on its capital than that capital costs?
→XYZ earns 5.9% on the capital it employs, below the 10% most investors treat as the cost of capital. That is the highest in XYZ's filed history.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlockXYZXYZ has issued or retired shares - did shareholders end up better off?
→XYZ issued +338% more shares from 2014 to 2025, but revenue per share still rose +549%. The dilution bought more growth than it cost existing holders.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlockXYZAre the people running it buying or selling?
→Insiders sold $52M on the open market and bought nothing. Many sales are pre-scheduled diversification rather than a view on the price. A further 6 filings were grants, option exercises or tax withholding, which say nothing either way.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30