Square (Block) vs Stripe
Business model, scale, and a side-by-side Litmus framework score — which model wins, and for whom.
Square wins in-person SMB retail with hardware and software; Stripe wins online and platform businesses.
At a glance
| Metric | Square (Block) | Stripe |
|---|---|---|
| Revenue | $24.2B (FY2025); $10.4B gross profit (+17% YoY) | ~$5.8B net revenue (2025 est.) |
| Profit | Adjusted Operating Income $728M in Q1'26 (25% margin) | Profitable; $1.5B+ free cash flow |
| Active users | 59M Cash App monthly actives | Millions of businesses across 46+ countries |
| Employees | ~10,000 (after ~40% workforce reduction) | ~10,000 |
| Founded | 2009 | 2010 |
| HQ | San Francisco, USA | San Francisco, USA |
LLitmus Framework Score
Overall: Square (Block) 86 · Stripe 95
Customer Segment
92
97
Value Proposition
90
99
Marketing Channel
85
95
Engagement
88
98
Income Source
87
90
Asset Validation
89
96
Core Operations
84
94
Strategic Alliance
80
98
Expense Validation
82
85
Square (Block) leads 0 modules, Stripe leads 9. Overall edge: Stripe.
Head to head
| Dimension | Square (Block) | Stripe |
|---|---|---|
| Core customer | In-person SMB sellers | Developers, online platforms |
| Pricing | ~2.6% + 10¢ per swipe | 2.9% + 30¢ online |
| Revenue | $24.2B (FY2025) | ~$5.8B net (2025 est.) |
| Consumer arm | Cash App (59M MAU) | None (B2B only) |
| Status | Public (NYSE) | Private |
FAQ
Is Square (Block) or Stripe a better business?
Square wins in-person SMB retail with hardware and software; Stripe wins online and platform businesses. It depends on what you optimise for — see the module-by-module breakdown above.
What is the difference between Square (Block) and Stripe's business model?
Square (Block) operates in Fintech (Economic empowerment), while Stripe is Fintech (Financial infrastructure for the internet). Their revenue, scale and Litmus scores are compared in detail above.
Which is more profitable, Square (Block) or Stripe?
Square (Block): Adjusted Operating Income $728M in Q1'26 (25% margin). Stripe: Profitable; $1.5B+ free cash flow.