Block (XYZ) FY2019 results: revenue $4.7 billion, up 42.9% on the year
Block, Inc. (XYZ) reported revenue of $4.7 billion for fiscal 2019, the year ended 31 December 2019, up 42.9% on the year before. Net income was $375 million, and diluted earnings per share $0.81. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2020.
Revenue
$4.7 billion
+42.9% on the year
FY2014FY2019
Operating margin
0.6%
-1.1% a year earlier
FY2014FY2019
Net income
$375 million
FY2014FY2019
Diluted EPS
$0.81
FY2014FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
4,714
3,298
2,214
+42.9%
Cost of revenue
2,824
1,994
1,375
+41.6%
Gross profit
1,890
1,304
839
+44.9%
Gross margin
40.1%
39.5%
37.9%
Research and development
674
497
322
+35.5%
Operating income
26.6
-36.6
-54.2
Operating margin
0.6%
-1.1%
-2.4%
Interest expense
44.9
37.8
n/a
+18.8%
Pre-tax income
378
-36.1
-62.7
Income tax
2.8
2.3
0.1
+19.0%
Effective tax rate
0.7%
n/a
n/a
Net income
375
-38.5
-62.8
Net margin
8.0%
-1.2%
-2.8%
Diluted EPS
$0.81
-$0.09
-$0.17
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
328
295
128
+11.0%
Capital expenditure
62.5
61.2
26.1
+2.1%
Free cash flow
265
234
102
+13.4%
Free cash flow margin
5.6%
7.1%
4.6%
Cash from investing
95.2
-906
-341
Cash from financing
243
516
455
-52.8%
Depreciation and amortisation
75.6
61.0
37.3
+24.0%
Share-based compensation
298
217
156
+37.3%
Diluted shares, weighted
466m
406m
379m
+14.9%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,715
1,121
786
+53.1%
Debt
939
900
359
+4.4%
Operating lease liabilities
109
n/a
n/a
Other liabilities
1,789
1,261
1,042
+41.9%
Total liabilities and equity
4,551
3,281
2,187
+38.7%
Fixed assets
149
142
91.5
+4.8%
Goodwill
266
262
58.3
+1.8%
Intangible assets
69.1
77.1
14.3
-10.4%
Investments
1,030
1,006
373
+2.4%
Cash and equivalents
1,047
583
696
+79.6%
Receivables
33.9
22.4
8.6
+51.2%
Inventory
47.7
28.6
16.8
+66.6%
Other assets
1,908
1,160
928
+64.5%
Total assets
4,551
3,281
2,187
+38.7%
10-K for the year ended 31 December 2019, filed 26 February 2020: the filing.