Block (XYZ) FY2018 results: revenue $3.3 billion, up 49.0% on the year
Block, Inc. (XYZ) reported revenue of $3.3 billion for fiscal 2018, the year ended 31 December 2018, up 49.0% on the year before. Net income was -$38 million, and diluted earnings per share $-0.09. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2019.
Revenue
$3.3 billion
+49.0% on the year
FY2014FY2018
Operating margin
-1.1%
-2.4% a year earlier
FY2014FY2018
Net income
-$38 million
FY2014FY2018
Diluted EPS
-$0.09
FY2014FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
3,298
2,214
1,709
+49.0%
Cost of revenue
1,994
1,375
1,133
+45.1%
Gross profit
1,304
839
576
+55.3%
Gross margin
39.5%
37.9%
33.7%
Research and development
497
322
269
+54.6%
Operating income
-36.6
-54.2
-170
Operating margin
-1.1%
-2.4%
-10.0%
Interest expense
37.8
n/a
n/a
Pre-tax income
-36.1
-62.7
-170
Income tax
2.3
0.1
1.9
+1,461.1%
Net income
-38.5
-62.8
-172
Net margin
-1.2%
-2.8%
-10.0%
Diluted EPS
-$0.09
-$0.17
-$0.50
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
295
128
23.1
+131.1%
Capital expenditure
61.2
26.1
25.4
+134.5%
Free cash flow
234
102
-2.3
+130.2%
Free cash flow margin
7.1%
4.6%
-0.1%
Cash from investing
-906
-341
-114
Cash from financing
516
455
90.7
+13.4%
Depreciation and amortisation
61.0
37.3
37.7
+63.5%
Share-based compensation
217
156
139
+39.2%
Diluted shares, weighted
406m
379m
342m
+7.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,121
786
576
+42.5%
Debt
900
359
0.0
+150.9%
Other liabilities
1,261
1,042
635
+21.0%
Total liabilities and equity
3,281
2,187
1,211
+50.0%
Fixed assets
142
91.5
88.3
+55.6%
Goodwill
262
58.3
57.2
+348.7%
Intangible assets
77.1
14.3
19.3
+437.9%
Investments
1,006
373
87.3
+169.4%
Cash and equivalents
583
696
452
-16.3%
Receivables
22.4
8.6
6.2
+160.2%
Inventory
28.6
16.8
13.7
+70.6%
Other assets
1,160
928
487
+25.0%
Total assets
3,281
2,187
1,211
+50.0%
10-K for the year ended 31 December 2018, filed 27 February 2019: the filing.