Companies · Puzzle #37 · Thursday, November 5
Companies: the board
Eight items, eight categories, one place each. Here is the board with every figure and where it comes from, and the best way to place them. Play today's Companies.
The categories
- Sales per employee: 2 pts per doubling over $60K a head, last year
- On the Nasdaq: 10 pts if listed on the Nasdaq
- Inventory: 1.5 pts per doubling over $100M, at year end
- California HQ: 10 pts if based in California
- Buybacks: 1 pt per doubling over $10M, last year
- Dividends: 1 pt per doubling over $5M, last year
- Workforce: 1.5 pts per doubling over 2,500 staff, at year end
- Cash on hand: 1.5 pts per doubling over $200M, at year end
The best board
- S&P Global in Buybacks: $5.0B of its own stock bought back in the year to December 2025 (9.0)
- Block (Square) in Sales per employee: $2.37M in sales per employee in the year to December 2025 (10.0)
- Texas Instruments in On the Nasdaq: trades on the Nasdaq (10.0)
- FedEx in Workforce: 530,000 employees at the end of May 2026 (10.0)
- HP in Inventory: $8.5B of inventory at the end of October 2025 (9.6)
- Duke Energy in Dividends: $3.3B paid in dividends in the year to December 2025 (9.4)
- Cheesecake Factory in California HQ: headquartered in Calabasas Hills, CA (10.0)
- Booking Holdings in Cash on hand: $17.2B in cash at the end of December 2025 (9.6)
The most this board could score: 77.6 of 80.
The lineup, figure by figure
S&P Global
Credit ratings and stock market indexes
S&P Global's best fit on this board was Buybacks, worth 9.0: $5.0B of its own stock bought back in the year to December 2025. Its weakest was On the Nasdaq, worth 0.0, since it trades on the NYSE. That is where the best board puts it as well.
- Sales per employee
- $345K in sales per employee in the year to December 2025 (5.0) Source: S&P Global Inc. 10-K, filed 2026-02-11
- On the Nasdaq
- trades on the NYSE (0.0) Source: S&P Global Inc. 10-K, filed 2026-02-11
- Inventory
- no inventory at the end of December 2025 (0.0) Source: S&P Global Inc. 10-K, filed 2026-02-11
- California HQ
- headquartered in New York, NY (0.0) Source: S&P Global Inc. 10-K, filed 2026-02-11
- Buybacks
- $5.0B of its own stock bought back in the year to December 2025 (9.0) Source: S&P Global Inc. 10-K, filed 2026-02-11
- Dividends
- $1.2B paid in dividends in the year to December 2025 (7.9) Source: S&P Global Inc. 10-K, filed 2026-02-11
- Workforce
- 44,500 employees at the end of December 2025 (6.2) Source: S&P Global Inc. 10-K, filed 2026-02-11
- Cash on hand
- $1.7B in cash at the end of December 2025 (4.7) Source: S&P Global Inc. 10-K, filed 2026-02-11
Block (Square)
Square card readers and Cash App
On this board Block (Square) scored best in Sales per employee (10.0): $2.37M in sales per employee in the year to December 2025. On the Nasdaq was its weakest fit (0.0): it trades on the NYSE. The best board puts it there too.
- Sales per employee
- $2.37M in sales per employee in the year to December 2025 (10.0) Source: Block, Inc. 10-K, filed 2026-02-26
- On the Nasdaq
- trades on the NYSE (0.0) Source: Block, Inc. 10-K, filed 2026-02-26
- Inventory
- $158M of inventory at the end of December 2025 (1.0) Source: Block, Inc. 10-K, filed 2026-02-26
- California HQ
- headquartered in Oakland, CA (10.0) Source: Block, Inc. 10-K, filed 2026-02-26
- Buybacks
- $2.3B of its own stock bought back in the year to December 2025 (7.9) Source: Block, Inc. 10-K, filed 2026-02-26
- Dividends
- no dividends in the year to December 2025 (0.0) Source: Block, Inc. 10-K, filed 2026-02-26
- Workforce
- 10,205 employees at the end of December 2025 (3.0) Source: Block, Inc. 10-K, filed 2026-02-26
- Cash on hand
- $6.6B in cash at the end of December 2025 (7.6) Source: Block, Inc. 10-K, filed 2026-02-26
Texas Instruments
Analog chips and graphing calculators
On this board Texas Instruments scored best in On the Nasdaq (10.0): it trades on the Nasdaq. California HQ was its weakest fit (0.0): headquartered in Dallas, TX. The best board puts it there too.
- Sales per employee
- $536K in sales per employee in the year to December 2025 (6.3) Source: TEXAS INSTRUMENTS INC 10-K, filed 2026-02-06
- On the Nasdaq
- trades on the Nasdaq (10.0) Source: TEXAS INSTRUMENTS INC 10-K, filed 2026-02-06
- Inventory
- $4.8B of inventory at the end of December 2025 (8.4) Source: TEXAS INSTRUMENTS INC 10-K, filed 2026-02-06
- California HQ
- headquartered in Dallas, TX (0.0) Source: TEXAS INSTRUMENTS INC 10-K, filed 2026-02-06
- Buybacks
- $1.5B of its own stock bought back in the year to December 2025 (7.2) Source: TEXAS INSTRUMENTS INC 10-K, filed 2026-02-06
- Dividends
- $5.0B paid in dividends in the year to December 2025 (10.0) Source: TEXAS INSTRUMENTS INC 10-K, filed 2026-02-06
- Workforce
- 33,000 employees at the end of December 2025 (5.6) Source: TEXAS INSTRUMENTS INC 10-K, filed 2026-02-06
- Cash on hand
- $3.2B in cash at the end of December 2025 (6.0) Source: TEXAS INSTRUMENTS INC 10-K, filed 2026-02-06
FedEx
Package and express delivery
FedEx's best fit on this board was Workforce, worth 10.0: 530,000 employees at the end of May 2026. Its weakest was On the Nasdaq, worth 0.0, since it trades on the NYSE. That is where the best board puts it as well.
- Sales per employee
- $179K in sales per employee in the year to May 2026 (3.2) Source: FEDEX CORP 10-K, filed 2026-07-20
- On the Nasdaq
- trades on the NYSE (0.0) Source: FEDEX CORP 10-K, filed 2026-07-20
- Inventory
- no inventory at the end of May 2026 (0.0) Source: FEDEX CORP 10-K, filed 2026-07-20
- California HQ
- headquartered in Memphis, TN (0.0) Source: FEDEX CORP 10-K, filed 2026-07-20
- Buybacks
- $796M of its own stock bought back in the year to May 2026 (6.3) Source: FEDEX CORP 10-K, filed 2026-07-20
- Dividends
- $1.4B paid in dividends in the year to May 2026 (8.1) Source: FEDEX CORP 10-K, filed 2026-07-20
- Workforce
- 530,000 employees at the end of May 2026 (10.0) Source: FEDEX CORP 10-K, filed 2026-07-20
- Cash on hand
- $13.3B in cash at the end of May 2026 (9.1) Source: FEDEX CORP 10-K, filed 2026-07-20
HP
Laptops, desktops and printers
HP's best fit on this board was California HQ, worth 10.0: headquartered in Palo Alto, CA. Its weakest was On the Nasdaq, worth 0.0, since it trades on the NYSE. The best board puts it in Inventory instead, for 9.6, and gives California HQ to Cheesecake Factory (10.0).
- Sales per employee
- $1.00M in sales per employee in the year to October 2025 (8.1) Source: HP INC 10-K, filed 2025-12-10
- On the Nasdaq
- trades on the NYSE (0.0) Source: HP INC 10-K, filed 2025-12-10
- Inventory
- $8.5B of inventory at the end of October 2025 (9.6) Source: HP INC 10-K, filed 2025-12-10
- California HQ
- headquartered in Palo Alto, CA (10.0) Source: HP INC 10-K, filed 2025-12-10
- Buybacks
- $850M of its own stock bought back in the year to October 2025 (6.4) Source: HP INC 10-K, filed 2025-12-10
- Dividends
- $1.1B paid in dividends in the year to October 2025 (7.8) Source: HP INC 10-K, filed 2025-12-10
- Workforce
- 55,000 employees at the end of October 2025 (6.7) Source: HP INC 10-K, filed 2025-12-10
- Cash on hand
- $3.7B in cash at the end of October 2025 (6.3) Source: HP INC 10-K, filed 2025-12-10
Duke Energy
Electric and gas utility
On this board Duke Energy scored best in Dividends (9.4): $3.3B paid in dividends in the year to December 2025. On the Nasdaq was its weakest fit (0.0): it trades on the NYSE. The best board puts it there too.
- Sales per employee
- $1.20M in sales per employee in the year to December 2025 (8.6) Source: Duke Energy CORP 10-K, filed 2026-02-26
- On the Nasdaq
- trades on the NYSE (0.0) Source: Duke Energy CORP 10-K, filed 2026-02-26
- Inventory
- $4.6B of inventory at the end of December 2025 (8.3) Source: Duke Energy CORP 10-K, filed 2026-02-26
- California HQ
- headquartered in Charlotte, NC (0.0) Source: Duke Energy CORP 10-K, filed 2026-02-26
- Buybacks
- no buybacks in the year to December 2025 (0.0) Source: Duke Energy CORP 10-K, filed 2026-02-26
- Dividends
- $3.3B paid in dividends in the year to December 2025 (9.4) Source: Duke Energy CORP 10-K, filed 2026-02-26
- Workforce
- 26,441 employees at the end of December 2025 (5.1) Source: Duke Energy CORP 10-K, filed 2026-02-26
- Cash on hand
- $245M in cash at the end of December 2025 (0.4) Source: Duke Energy CORP 10-K, filed 2026-02-26
Cheesecake Factory
Sit-down restaurants with a huge menu
On this board Cheesecake Factory scored best in California HQ (10.0): headquartered in Calabasas Hills, CA. Inventory was its weakest fit (0.0): $54M of inventory at the end of December 2025. The best board puts it there too.
- Sales per employee
- $78K in sales per employee in the year to December 2025 (0.8) Source: CHEESECAKE FACTORY INC 10-K, filed 2026-02-23
- On the Nasdaq
- trades on the Nasdaq (10.0) Source: CHEESECAKE FACTORY INC 10-K, filed 2026-02-23
- Inventory
- $54M of inventory at the end of December 2025 (0.0) Source: CHEESECAKE FACTORY INC 10-K, filed 2026-02-23
- California HQ
- headquartered in Calabasas Hills, CA (10.0) Source: CHEESECAKE FACTORY INC 10-K, filed 2026-02-23
- Buybacks
- $154M of its own stock bought back in the year to December 2025 (3.9) Source: CHEESECAKE FACTORY INC 10-K, filed 2026-02-23
- Dividends
- $52M paid in dividends in the year to December 2025 (3.4) Source: CHEESECAKE FACTORY INC 10-K, filed 2026-02-23
- Workforce
- 48,400 employees at the end of December 2025 (6.4) Source: CHEESECAKE FACTORY INC 10-K, filed 2026-02-23
- Cash on hand
- $216M in cash at the end of December 2025 (0.2) Source: CHEESECAKE FACTORY INC 10-K, filed 2026-02-23
Booking Holdings
Booking.com, Priceline and Kayak
On this board Booking Holdings scored best in On the Nasdaq (10.0): it trades on the Nasdaq. Inventory was its weakest fit (0.0): no inventory at the end of December 2025. The best board puts it in Cash on hand instead, for 9.6, and gives On the Nasdaq to Texas Instruments (10.0).
- Sales per employee
- $1.11M in sales per employee in the year to December 2025 (8.4) Source: Booking Holdings Inc. 10-K, filed 2026-02-18
- On the Nasdaq
- trades on the Nasdaq (10.0) Source: Booking Holdings Inc. 10-K, filed 2026-02-18
- Inventory
- no inventory at the end of December 2025 (0.0) Source: Booking Holdings Inc. 10-K, filed 2026-02-18
- California HQ
- headquartered in Norwalk, CT (0.0) Source: Booking Holdings Inc. 10-K, filed 2026-02-18
- Buybacks
- $6.4B of its own stock bought back in the year to December 2025 (9.3) Source: Booking Holdings Inc. 10-K, filed 2026-02-18
- Dividends
- $1.2B paid in dividends in the year to December 2025 (8.0) Source: Booking Holdings Inc. 10-K, filed 2026-02-18
- Workforce
- 24,300 employees at the end of December 2025 (4.9) Source: Booking Holdings Inc. 10-K, filed 2026-02-18
- Cash on hand
- $17.2B in cash at the end of December 2025 (9.6) Source: Booking Holdings Inc. 10-K, filed 2026-02-18