Block (XYZ) FY2017 results: revenue $2.2 billion, up 29.6% on the year
Block, Inc. (XYZ) reported revenue of $2.2 billion for fiscal 2017, the year ended 31 December 2017, up 29.6% on the year before. Net income was -$63 million, and diluted earnings per share $-0.17. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2019.
Revenue
$2.2 billion
+29.6% on the year
FY2014FY2017
Operating margin
-2.4%
-10.0% a year earlier
FY2014FY2017
Net income
-$63 million
FY2014FY2017
Diluted EPS
-$0.17
FY2014FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
2,214
1,709
1,267
+29.6%
Cost of revenue
1,375
1,133
897
+21.4%
Gross profit
839
576
370
+45.7%
Gross margin
37.9%
33.7%
29.2%
Research and development
322
269
200
+19.9%
Operating income
-54.2
-170
-174
Operating margin
-2.4%
-10.0%
-13.8%
Pre-tax income
-62.7
-170
-176
Income tax
0.1
1.9
3.7
-92.2%
Net income
-62.8
-172
-180
Net margin
-2.8%
-10.0%
-14.2%
Diluted EPS
-$0.17
-$0.50
-$1.24
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
128
23.1
21.1
+452.1%
Capital expenditure
26.1
25.4
37.4
+2.6%
Free cash flow
102
-2.3
-16.3
Free cash flow margin
4.6%
-0.1%
-1.3%
Cash from investing
-341
-114
-43.2
Cash from financing
455
90.7
265
+401.4%
Depreciation and amortisation
37.3
37.7
27.6
-1.2%
Share-based compensation
156
139
82.3
+12.3%
Diluted shares, weighted
379m
342m
170m
+11.1%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
786
576
508
+36.5%
Debt
359
0.0
0.0
Other liabilities
1,042
635
387
+64.1%
Total liabilities and equity
2,187
1,211
895
+80.6%
Fixed assets
91.5
88.3
87.2
+3.6%
Goodwill
58.3
57.2
56.7
+2.0%
Intangible assets
14.3
19.3
26.8
-25.7%
Investments
373
87.3
0.0
+327.7%
Cash and equivalents
696
452
461
+54.1%
Receivables
8.6
6.2
4.8
+39.0%
Inventory
16.8
13.7
11.9
+22.2%
Other assets
928
487
246
+90.4%
Total assets
2,187
1,211
895
+80.6%
10-K for the year ended 31 December 2017, filed 27 February 2019: the filing.