Block Inc Class A

SQ: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$71.00	Mdwdkj	Mklykyj

We Like Block's Focus on Improving Profitability

Brett Horn

Mar 15, 2024

Business Strategy and Outlook

We think Block’s legacy Square business model, characterized by efficient client onboarding, innovative point-of-sale devices, flat fees, and an internally developed and integrated set of software solutions, allows the company to reach and retain micro merchants that are unviable for other acquirers. In essence, we believe Square's initial success came largely from expanding the acquiring market, as opposed to stealing material share from existing players.

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