Value Investing

Vladimir Dimitrov, CFA

Equity Bottom-Up

<ul>
<li>Block's share price has remained relatively flat over the past year, but that's hardly good news.</li>
<li>The highly supportive outside environment was not able to propel the share price anywhere near its previous highs.</li>
<li>When adjusting for risks, Block remains as one of the worst performers within its peer group, according to analysts.</li>
</ul>


Block's share price has remained relatively flat over the past year, but that's hardly good news.
The highly supportive outside environment was not able to propel the share price anywhere near its previous highs.
When adjusting for risks, Block remains as one of the worst performers within its peer group, according to analysts.


Block: When A Flat Share Price Is A Cause Of Concern

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Block managed to surpass the revenue expectations as well as the earnings expectations of Wall Street.</li><li>The company produced excellent growth across its ecosystem in the first quarter, with a gross profit of $1.71 billion, up 32% year on year.</li><li>In the quarter, Cash App's gross profit increased by 49% year over year to $931 million.</li></ul>

Block managed to surpass the revenue expectations as well as the earnings expectations of Wall Street.The company produced excellent growth across its ecosystem in the first quarter, with a gross profit of $1.71 billion, up 32% year on year.In the quarter, Cash App's gross profit increased by 49% year over year to $931 million.

<ul>
<li>Block's management is blaming the state of the economy for the company's struggles, but the reality is very different.</li>
<li>Shareholder dilution continues while cash flow remains suppressed and the macroeconomic conditions are still supportive, according to Block's management.</li>
<li>The macroeconomic condition is still supportive and the Macroeconomic conditions remain supportive.</li>
</ul>


Block's management is blaming the state of the economy for the company's struggles, but the reality is very different.
Shareholder dilution continues while cash flow remains suppressed and the macroeconomic conditions are still supportive, according to Block's management.
The macroeconomic condition is still supportive and the Macroeconomic conditions remain supportive.


<ul>
<li>Fiserv's delivered a 30% return since October of last year, when I laid out my full investment thesis.</li>
<li>Fiserv is laying the groundwork for long-term growth, says the company's market commentators.</li>
<li>The company continues to outmaneuver its direct competitors, according to analysts.</li>
</ul>


Fiserv's delivered a 30% return since October of last year, when I laid out my full investment thesis.
Fiserv is laying the groundwork for long-term growth, says the company's market commentators.
The company continues to outmaneuver its direct competitors, according to analysts.


Fiserv: Achieving Industry-Leading Returns Is Not As Hard As You Might Think

<ul><li>Block’s stock has been in the news and faced a strong correction after becoming the latest target of Hindenburg.</li><li>The report alleges that Block has overstated its genuine user counts and has understated its customer acquisition costs.</li><li>It was damaging enough to result in a sharp correction in the company’s share price.</li></ul>

Block’s stock has been in the news and faced a strong correction after becoming the latest target of Hindenburg.The report alleges that Block has overstated its genuine user counts and has understated its customer acquisition costs.It was damaging enough to result in a sharp correction in the company’s share price.

Block Inc: The Hindenburg Impact & Other Developments

United States

Block, Inc. operates as a financial services and digital payments company. The Company develops a payments platform aimed at small and medium businesses that allows them to accept credit card payments and use tablet computers as payment registers for a point-of-sale system. Block also provides financial and marketing services.

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Block (SQ US)

Block Inc.: Cash App Growth

Block managed to surpass the revenue expectations as well as the earnings expectations of Wall Street. The company produced excellent growth...

Baptista Research

Block: The Crises That Never Were

Shareholder dilution continues while cash flow remains suppressed and the macroeconomic conditions are still supportive, according to Block's...

Vladimir Dimitrov, CFA

Fiserv: Achieving Industry-Leading Returns Is Not As Hard As You Might Think

Fiserv's delivered a 30% return since October of last year, when I laid out my full investment thesis. Fiserv is laying the groundwork for long...

Vladimir Dimitrov, CFA

Block Inc: The Hindenburg Impact & Other Developments

Block’s stock has been in the news and faced a strong correction after becoming the latest target of Hindenburg. The report alleges that Block has...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Block: When A Flat Share Price Is A Cause Of Concern

The highly supportive outside environment was not able to propel the share price anywhere near its previous highs. When adjusting for risks, Block...

Vladimir Dimitrov, CFA

Block Inc.: Cash App Growth

Block managed to surpass the revenue expectations as well as the earnings expectations of Wall Street. The company produced excellent growth...

Baptista Research

Block: The Crises That Never Were

Shareholder dilution continues while cash flow remains suppressed and the macroeconomic conditions are still supportive, according to Block's...

Vladimir Dimitrov, CFA

Fiserv: Achieving Industry-Leading Returns Is Not As Hard As You Might Think

Fiserv's delivered a 30% return since October of last year, when I laid out my full investment thesis. Fiserv is laying the groundwork for long...

Vladimir Dimitrov, CFA

Block Inc: The Hindenburg Impact & Other Developments

Block’s stock has been in the news and faced a strong correction after becoming the latest target of Hindenburg. The report alleges that Block has...

Baptista Research