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Square (SQ)
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Square Balance Sheet 2025-2011 | SQ
Brief overview of Square's assets and capital
Balance sheet changes are traced across five available annual reports between 2021 and 2025.
The asset base grew from $15 billion to $39.5 billion, or +163.2%. Average annual growth of roughly 27.4% was strong.
Liabilities increased less than assets, posting +48.4% versus +163.2%. That relationship usually strengthens the balance sheet.
Equity accounts for 56.1% of assets. Against the initial 22.1%, the capital position looks resilient.
The period ended with net cash: net debt stood at -$6.3 billion. This supports financial flexibility.
Cash equals 16.6% of the balance sheet, compared with 29.6% five periods ago. This is the readily available cushion.
Retained earnings stand at $3.7 billion; the five-period change was +13,238.8%. This reflects accumulated business performance.
Overall picture
Square shows a high-quality balance sheet profile, with adequate internal capital and room for maneuver.
Annual Balance Sheet Square
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
-6.25 B | -7.74 B | -4.65 B | -368 M | 180 M | -518 M | 1.06 B | 1.19 B | -65.3 M | -452 M | -471 M | -195 M | -166 M | - | - |
Long Term Debt |
257 M | 279 M | 290 M | 4.11 B | 4.56 B | 2.59 B | 939 M | 900 M | 359 M | - | - | 30 M | - | - | - |
Long Term Debt Current |
55.3 M | 52.9 M | 53.7 M | 66.9 M | 64 M | 52.7 M | 27.3 M | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
7 B | 7 B | 5.46 B | 5.68 B | 5.18 B | 3.06 B | 1.14 B | 1.14 B | 428 M | 57.7 M | 52.5 M | 77.1 M | 26.3 M | - | - |
Total Current Liabilities |
10.4 B | 8.55 B | 8.88 B | 8.43 B | 6.54 B | 4.13 B | 1.69 B | 1.02 B | 973 M | 577 M | - | - | - | - | - |
Total Liabilities |
17.4 B | 15.5 B | 14.3 B | 14.1 B | 11.7 B | 7.19 B | 2.84 B | 2.16 B | 1.4 B | 635 M | 387 M | 268 M | 156 M | - | - |
Deferred Revenue |
- | - | - | - | 48.5 M | 44.9 M | 38.1 M | 31.5 M | 5.89 M | 5.41 M | 6.62 M | - | - | - | - |
Retained Earnings |
3.67 B | 2.37 B | -528 M | -569 M | -28 M | -297 M | -510 M | -886 M | -843 M | -779 M | -608 M | -396 M | -242 M | - | - |
Total Assets |
39.5 B | 36.8 B | 33 B | 31.4 B | 15 B | 9.87 B | 4.55 B | 3.28 B | 2.19 B | 1.21 B | 895 M | 542 M | 318 M | - | - |
Cash and Cash Equivalents |
6.56 B | 8.08 B | 5 B | 4.54 B | 4.44 B | 3.16 B | 1.05 B | 583 M | 696 M | 452 M | 490 M | - | - | - | - |
Book Value |
22.2 B | 21.2 B | 18.7 B | 17.3 B | 3.31 B | 2.68 B | 1.72 B | 1.12 B | 786 M | 576 M | 508 M | 274 M | 162 M | - | - |
Total Shareholders Equity |
22.2 B | 21.3 B | 18.7 B | 17.2 B | 3.27 B | 2.68 B | 1.72 B | 1.12 B | 786 M | 576 M | 508 M | 274 M | - | - | - |
Annual performance
Select metrics to display
All numbers in USD currency
Quarterly Balance Sheet Square
| 2026-Q3 | 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
213 M | 228 M | 242 M | 257 M | 259 M | 256 M | 266 M | 279 M | 288 M | 272 M | 282 M | 290 M | 303 M | 315 M | 329 M | 357 M | 370 M | 333 M | 396 M | 395 M | 391 M | 405 M | 400 M | 390 M | 385 M | 385 M | 350 M | 109 M | 106 M | 107 M | 113 M | 900 M | 898 M | 1.07 B | 363 M | 359 M | 354 M | 350 M | 346 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
7.16 B | 6.67 B | 6.34 B | 7 B | 6.6 B | 4.66 B | 6.27 B | 7 B | 6.41 B | 6.02 B | 4.14 B | 5.46 B | 5.53 B | 5.07 B | 5.16 B | 5.68 B | 5.31 B | 5.03 B | 5.65 B | 5.18 B | 5.36 B | 5.43 B | 3.47 B | 3.06 B | 2.23 B | 2.25 B | 2.19 B | 1.14 B | 1.11 B | 1.09 B | 1.1 B | 1.14 B | 988 M | 1.16 B | 438 M | 428 M | 420 M | 413 M | 408 M | 57.7 M | 55.8 M | 50.4 M | 50.3 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
18.4 B | 17.1 B | 18.3 B | 17.4 B | 16.7 B | 14.7 B | 15 B | 15.5 B | 16.4 B | 18.3 B | 16.6 B | 14.3 B | 14.7 B | 13.3 B | 13.9 B | 14.1 B | 12.6 B | 12 B | 11.7 B | 11.7 B | 10.9 B | 11.1 B | 9.03 B | 7.19 B | 6.05 B | 5.89 B | 4.2 B | 2.84 B | 2.75 B | 3.47 B | 3.28 B | 2.16 B | 2.85 B | 2.47 B | 1.57 B | 1.4 B | 1.35 B | 1.04 B | 963 M | 635 M | 542 M | 462 M | 500 M | 387 M | 387 M | 387 M | 387 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Deferred Revenue |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 47.2 M | 50.5 M | 53 M | 48.5 M | 51.7 M | 52.4 M | 47.6 M | 44.9 M | 46.1 M | 44.6 M | 40.4 M | 38.1 M | 39 M | 38.6 M | 36.3 M | 31.5 M | 29.3 M | 24.1 M | 3.35 M | 5.89 M | 3.42 M | 4.52 M | 2.96 M | 5.41 M | 5.3 M | 5.12 M | 6.21 M | 6.62 M | 6.62 M | 6.62 M | 6.62 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
4.02 B | 3.45 B | 3.37 B | 3.67 B | 3.56 B | 3.1 B | 2.56 B | 2.37 B | 423 M | 139 M | -56.4 M | -528 M | -737 M | -708 M | -586 M | -569 M | -455 M | -440 M | -232 M | -28 M | 48.9 M | 48.8 M | -155 M | -297 M | -591 M | -628 M | -616 M | -510 M | -901 M | -931 M | -924 M | -886 M | -858 M | -877 M | -871 M | -843 M | -827 M | -811 M | -795 M | -779 M | -764 M | -732 M | -704 M | -608 M | -608 M | -608 M | -608 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
41.2 B | 39.2 B | 40 B | 39.5 B | 39.2 B | 36.9 B | 36.4 B | 36.8 B | 36.4 B | 37.5 B | 35.6 B | 33 B | 32.6 B | 31.1 B | 31.3 B | 31.4 B | 29.1 B | 28.9 B | 29.1 B | 15 B | 13.9 B | 13.8 B | 11.3 B | 9.87 B | 8.11 B | 7.81 B | 6 B | 4.55 B | 4 B | 4.65 B | 4.4 B | 3.28 B | 3.97 B | 3.55 B | 2.38 B | 2.19 B | 2.08 B | 1.74 B | 1.59 B | 1.21 B | 1.05 B | 933 M | 945 M | 895 M | 895 M | 895 M | 895 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
13.9 B | 12.9 B | 13.5 B | 12.5 B | 13.9 B | 12.1 B | 13.1 B | 13.2 B | 12.9 B | 12 B | 10.5 B | 9.01 B | 8.67 B | 8.71 B | 9.35 B | 8.44 B | 7.63 B | 7.15 B | 7.37 B | 6.98 B | 6.79 B | 7.02 B | 5.72 B | 4.79 B | 2.16 B | 2.01 B | 2.01 B | 1.54 B | 654 M | 663 M | 569 M | 867 M | 765 M | 1.43 B | 776 M | 735 M | 694 M | 754 M | 741 M | 489 M | 446 M | 373 M | 371 M | 461 M | 471 M | 471 M | 471 M | 222 M | - | - | - | 166 M | - | - | - | - | - | - | - | - | - | - | - |
Book Value |
22.9 B | 22 B | 21.7 B | 22.2 B | 22.5 B | 22.1 B | 21.4 B | 21.2 B | 19.9 B | 19.3 B | 19 B | 18.7 B | 17.8 B | 17.8 B | 17.5 B | 17.3 B | 16.5 B | 16.9 B | 17.5 B | 3.31 B | 3 B | 2.74 B | 2.31 B | 2.68 B | 2.06 B | 1.93 B | 1.81 B | 1.72 B | 1.25 B | 1.18 B | 1.12 B | 1.12 B | 1.12 B | 1.08 B | 810 M | 786 M | 733 M | 704 M | 628 M | 576 M | 510 M | 471 M | 445 M | 508 M | 508 M | 508 M | 508 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Shareholders Equity |
22.9 B | 22 B | 21.7 B | 22.2 B | 22.5 B | 22.1 B | 21.4 B | 21.2 B | 19.9 B | 19.3 B | 19 B | 18.7 B | 17.9 B | 17.9 B | 17.6 B | 17.3 B | 16.5 B | 16.9 B | 17.5 B | 3.31 B | 3 B | 2.74 B | 2.31 B | 2.68 B | 2.06 B | 1.93 B | 1.81 B | 1.72 B | 1.25 B | 1.18 B | 1.12 B | 1.12 B | 1.12 B | 1.08 B | 810 M | 786 M | 733 M | 704 M | 628 M | 576 M | 510 M | 471 M | 445 M | 508 M | 508 M | 508 M | 508 M | 274 M | - | - | - | 162 M | - | - | - | - | - | - | - | - | - | - | - |
Quarterly performance
Select metrics to display
All numbers in USD currency
Balance Sheet is a fundamental financial report of Square, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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