Block (XYZ) FY2020 results: revenue $9.5 billion, up 101.5% on the year
Block, Inc. (XYZ) reported revenue of $9.5 billion for fiscal 2020, the year ended 31 December 2020, up 101.5% on the year before. Net income was $213 million, down 43.2%, and diluted earnings per share $0.44. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2021.
Revenue
$9.5 billion
+101.5% on the year
FY2014FY2020
Operating margin
-0.2%
0.6% a year earlier
FY2014FY2020
Net income
$213 million
-43.2% on the year
FY2014FY2020
Diluted EPS
$0.44
-45.7% on the year
FY2014FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
9,498
4,714
3,298
+101.5%
Cost of revenue
6,764
2,824
1,994
+139.5%
Gross profit
2,733
1,890
1,304
+44.6%
Gross margin
28.8%
40.1%
39.5%
Research and development
882
674
497
+30.8%
Operating income
-18.8
26.6
-36.6
Operating margin
-0.2%
0.6%
-1.1%
Interest expense
75.2
44.9
37.8
+67.5%
Pre-tax income
216
378
-36.1
-42.9%
Income tax
2.9
2.8
2.3
+3.4%
Effective tax rate
1.3%
0.7%
n/a
Net income
213
375
-38.5
-43.2%
Net margin
2.2%
8.0%
-1.2%
Diluted EPS
$0.44
$0.81
-$0.09
-45.7%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
173
328
295
-47.2%
Capital expenditure
138
62.5
61.2
+121.5%
Free cash flow
34.7
265
234
-86.9%
Free cash flow margin
0.4%
5.6%
7.1%
Cash from investing
-607
95.2
-906
Cash from financing
3,677
243
516
+1,410.6%
Depreciation and amortisation
84.2
75.6
61.0
+11.4%
Share-based compensation
398
298
217
+33.6%
Diluted shares, weighted
482m
466m
406m
+3.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,682
1,715
1,121
+56.4%
Non-controlling interest
0.0
n/a
n/a
Debt
3,051
939
900
+225.0%
Operating lease liabilities
390
109
n/a
+258.0%
Other liabilities
3,747
1,789
1,261
+109.5%
Total liabilities and equity
9,870
4,551
3,281
+116.9%
Fixed assets
234
149
142
+56.5%
Goodwill
317
266
262
+18.9%
Intangible assets
138
69.1
77.1
+99.2%
Investments
1,159
1,030
1,006
+12.6%
Cash and equivalents
3,158
1,047
583
+201.6%
Receivables
42.0
33.9
22.4
+23.9%
Inventory
61.1
47.7
28.6
+28.2%
Other assets
4,762
1,908
1,160
+149.5%
Total assets
9,870
4,551
3,281
+116.9%
10-K for the year ended 31 December 2020, filed 23 February 2021: the filing.