A Business at a Glance
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BLACKLINE, INC.
BL
$1.8B
Mkt Cap
$28.74
+4.74%
BLACKLINE, INC. (BL) has a current P/E ratio of 73.7, compared to its historical median P/E of 61.1. The stock is currently considered Fair based on its historical valuation range.
BLACKLINE, INC. (BL) has a 5-year average return on invested capital (ROIC) of 6.7%. This is below average and may indicate limited pricing power.
BLACKLINE, INC. (BL) has a market capitalization of $1.7B. It is classified as a small-cap stock.
BLACKLINE, INC. (BL) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 13.88%.
Based on historical P/E analysis, BLACKLINE, INC. (BL) appears fair. The current P/E of 73.7 is 21% above its historical median of 61.1. The estimated fair value CAGR (P/E method) is 24.3%.
BLACKLINE, INC. (BL) operates in the Services-Prepackaged Software industry, within the Technology sector.
BLACKLINE, INC. (BL) reported annual revenue of $700 million in its most recent fiscal year, based on SEC EDGAR filings.
The Office of the Chief Financial Officer (“CFO”) is relied upon to deliver timely and accurate financial reporting and business insights. The CFO role has evolved from traditional accounting processes to driving growth, profitability, and governance across the enterprise to improve business outcomes while finance and accounting teams are facing unprecedented system and process complexity, growing data volumes, and evolving regulatory requirements, coupled with expanding roles and responsibilities. As a result, digital transformation has become a top priority for CFOs, as they require powerful technology to meet these demands. At BlackLine, our mission is to inspire, power, and guide digital finance transformation for the Office of the CFO. Our secure, flexible, and scalable cloud-based platform empowers finance and accounting teams to achieve future-ready financial operations, modernizing processes for mid-size and enterprise organizations across all industries.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 717M | 700M | 653M | 590M | 523M | 426M |
| Net Income | 27M | 25M | 161M | 53M | -29M | -115M |
| EPS | $0.44 | $0.39 | $1.45 | $0.81 | $-0.49 | $-1.97 |
| Free Cash Flow | 165M | 161M | 189M | 121M | 45M | 71M |
| ROIC | 1.1% | 3.9% | 45.6% | 28.3% | -13.4% | -30.8% |
| Gross Margin | 75.4% | 75.2% | 75.2% | 75.1% | 75.3% | 77.0% |
| Debt/Equity | 0.00 | 0.07 | 0.05 | 0.08 | 0.15 | 0.06 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 28M | 26M | 19M | 14M | -56M | -39M |
| Operating Margin | 3.9% | 3.6% | 2.8% | 2.4% | -10.7% | -9.1% |
| ROE | 8.7% | 6.3% | 45.6% | 28.3% | -13.5% | -30.8% |
| Shares Outstanding | 59M | 63M | 111M | 65M | 60M | 58M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 52M | 84M | 123M | 177M | 228M | 289M | 352M | 426M | 523M | 590M | 653M | 700M | 717M |
| Gross Margin | 67.9% | 72.8% | 79.5% | 75.8% | 77.7% | 79.6% | 38.0% | 77.0% | 75.3% | 75.1% | 75.2% | 75.2% | 75.4% |
| R&D | 9.7M | 18M | 21M | 24M | 31M | 43M | 56M | 77M | 109M | 103M | 101M | 109M | 114M |
| SG&A | 12M | 21M | 28M | 37M | 47M | 56M | 72M | 87M | 80M | 72M | 122M | 119M | 124M |
| EBIT | -18M | -35M | -23M | -30M | -30M | -28M | -20M | -39M | -56M | 14M | 19M | 26M | 28M |
| Op. Margin | -35.2% | -41.6% | -18.8% | -17.2% | -13.1% | -9.7% | -5.7% | -9.1% | -10.7% | 2.4% | 2.8% | 3.6% | 3.9% |
| Net Income | -17M | -25M | -26M | -33M | -29M | -33M | -47M | -115M | -29M | 53M | 161M | 25M | 27M |
| Net Margin | -32.4% | -29.6% | -21.4% | -18.9% | -12.6% | -11.3% | -13.3% | -27.1% | -5.6% | 9.0% | 24.7% | 3.5% | 3.7% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.2M | 11M | 1.7M | 15M | 11M |
| Returns on Capital | |||||||||||||
| ROIC | -16.5% | -12.9% | -9.7% | -10.2% | -9.0% | -5.9% | -7.8% | -30.8% | -13.4% | 28.3% | 45.6% | 3.9% | 1.1% |
| ROE | -16.5% | -13.9% | -11.0% | -10.7% | -9.0% | -9.1% | -11.4% | -30.8% | -13.5% | 28.3% | 45.6% | 6.3% | 8.7% |
| ROA | -138.5% | -16.6% | -7.4% | -7.6% | -6.0% | -4.3% | -4.4% | -7.9% | -1.6% | 2.6% | 8.2% | 1.4% | 1.8% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 8.9M | 1.0M | -4.8M | 6.4M | 16M | 30M | 55M | 80M | 56M | 127M | 191M | 170M | 169M |
| Free Cash Flow | 7.5M | -9.1M | -6.5M | 2.4M | 9.9M | 25M | 48M | 71M | 45M | 121M | 189M | 161M | 165M |
| Owner Earnings | -6.5M | -19M | -29M | -18M | -18M | -23M | -19M | -13M | -63M | -1.5M | 57M | 30M | 24M |
| CapEx | 1.4M | 10M | 1.7M | 4.0M | 6.3M | 4.6M | 6.5M | 8.7M | 11M | 6.0M | 2.1M | 8.1M | 4.2M |
| Maint. CapEx | 13M | 15M | 17M | 8.5M | 13M | 19M | 24M | 27M | 43M | 50M | 50M | 47M | 47M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 13M | 15M | 17M | 8.5M | 13M | 19M | 24M | 27M | 43M | 50M | 50M | 47M | 47M |
| CapEx/OCF | N/A | N/A | N/A | 62.3% | 38.9% | 15.6% | 11.9% | 10.9% | 19.6% | 4.7% | 1.1% | 4.8% | 2.5% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 225K | 29K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 236M | 236M |
| Buyback Yield | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 6.5% | 13.9% |
| Stock-Based Comp | 2.0M | 5.5M | 6.5M | 16M | 21M | 34M | 50M | 66M | 76M | 78M | 83M | 93M | 98M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 432M | 0 | 0 | 849M | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | 41M | -71M | N/A | N/A | -208M | -531M | -1.2B | -1.1B | -1.2B | -862M | -754M | -525M |
| Cash & Equiv. | 26M | 15M | 22M | 31M | 46M | 120M | 367M | 540M | 201M | 271M | 886M | 390M | 525M |
| Long-Term Debt | N/A | 28M | 34M | N/A | N/A | 384M | 0 | 824K | 785K | 4K | 53K | 40K | 37K |
| Debt/Equity | 0.37 | 0.33 | 0.11 | 0.45 | 0.53 | 1.00 | 0.03 | 0.06 | 0.15 | 0.08 | 0.05 | 0.07 | 0.00 |
| Interest Coverage | -6.0 | -10.8 | -3.9 | -2339.2 | -7459.0 | -3.2 | -0.9 | -0.6 | -9.6 | 2.4 | 2.1 | 2.5 | 2.5 |
| Equity | 8.9M | 171M | 308M | 316M | 319M | 399M | 422M | 325M | 112M | 261M | 447M | 332M | 306M |
| Total Assets | 12M | 287M | 420M | 461M | 493M | 1.0B | 1.1B | 1.8B | 1.9B | 2.1B | 1.8B | 1.8B | 1.5B |
| Total Liabilities | 3.2M | 121M | 129M | 144M | 170M | 611M | 679M | 1.5B | 1.8B | 1.8B | 1.3B | 1.4B | 1.1B |
| Intangibles | N/A | 57M | 54M | 41M | 28M | 18M | 47M | 36M | 91M | 79M | 60M | 49M | 46M |
| Retained Earnings | N/A | -48M | -87M | -103M | -133M | -164M | -202M | -302M | -273M | -215M | -49M | -25M | -21M |
| Working Capital | N/A | -26M | 55M | 54M | 63M | 516M | 432M | 1.0B | 882M | 765M | 670M | 330M | 302M |
| Current Assets | N/A | 48M | 164M | 188M | 222M | 723M | 674M | 1.3B | 1.2B | 1.4B | 1.1B | 1.0B | 732M |
| Current Liabilities | 1.0M | 74M | 108M | 134M | 159M | 207M | 242M | 323M | 368M | 643M | 422M | 695M | 430M |
| Per Share Data | |||||||||||||
| EPS | -0.42 | -0.61 | -0.62 | -0.64 | -0.53 | -0.59 | -0.83 | -1.97 | -0.49 | 0.81 | 1.45 | 0.39 | 0.44 |
| Owner EPS | -0.16 | -0.47 | -0.68 | -0.35 | -0.33 | -0.41 | -0.33 | -0.22 | -1.05 | -0.02 | 0.51 | 0.48 | 0.41 |
| Book Value | 0.22 | 4.22 | 7.25 | 6.05 | 5.89 | 7.23 | 7.47 | 5.56 | 1.87 | 4.00 | 4.02 | 5.29 | 5.17 |
| Cash Flow/Share | 0.22 | 0.02 | -0.11 | 0.12 | 0.30 | 0.54 | 0.97 | 1.37 | 0.93 | 1.94 | 1.72 | 2.70 | 1.25 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 39.9M | 40.5M | 42.5M | 52.2M | 54.2M | 55.1M | 56.5M | 58.5M | 60.0M | 65.2M | 111.2M | 62.9M | 59.2M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 80.0 | 42.2 | 148.1 | 65.2 |
| P/FCF | N/A | N/A | N/A | 730.4 | 221.5 | 115.2 | 158.4 | 84.7 | 85.7 | 35.0 | 36.0 | 22.5 | 10.3 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 210.7 | 319.2 | 111.7 | 41.7 |
| Price/Book | N/A | N/A | 3.9 | 5.6 | 6.8 | 7.3 | 18.1 | 18.6 | 34.5 | 16.2 | 15.2 | 10.9 | 5.6 |
| Price/Sales | N/A | N/A | 8.8 | 9.7 | 10.2 | 9.4 | 12.8 | 16.0 | 8.0 | 6.5 | 9.5 | 4.8 | 2.4 |
| FCF Yield | N/A | N/A | -0.6% | 0.1% | 0.5% | 0.9% | 0.6% | 1.2% | 1.2% | 2.9% | 2.8% | 4.4% | 9.7% |
| Market Cap | 0 | N/A | 1.1B | 1.8B | 2.2B | 2.9B | 7.6B | 6.0B | 3.9B | 4.2B | 6.8B | 3.6B | 1.7B |
| Avg. Price | 0.00 | N/A | 25.48 | 32.45 | 42.96 | 49.05 | 79.56 | 116.54 | 70.12 | 58.99 | 56.06 | 53.90 | 28.74 |
| Year-End Price | 0.00 | N/A | 26.92 | 33.89 | 40.30 | 52.42 | 135.14 | 103.41 | 64.35 | 64.78 | 61.20 | 57.76 | 28.74 |
BLACKLINE, INC. passes 5 of 9 quality checks, suggesting mixed fundamentals.
BLACKLINE, INC. trades at 73.7x trailing earnings, compared to its 15-year median P/E of 61.1x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 10.6x vs a median of 36.0x. The company's 5-year average ROIC is 6.7% with a gross margin of 75.6%. Total shareholder yield (buybacks) is 13.9%. At current prices, the estimated annualized return to fair value is +39.8%.
BLACKLINE, INC. (BL) has a net profit margin of 3.5%. This is a modest margin.
BLACKLINE, INC. (BL) generated $161 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
BLACKLINE, INC. (BL) has a debt-to-equity ratio of 0.07. This indicates a conservatively financed balance sheet.
BLACKLINE, INC. (BL) reported earnings per share (EPS) of $0.39 in its most recent fiscal year.
BLACKLINE, INC. (BL) has a return on equity (ROE) of 6.3%. This indicates moderate shareholder returns.
BLACKLINE, INC. (BL) has a 5-year average gross margin of 75.6%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 12 years of financial data for BLACKLINE, INC. (BL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
BLACKLINE, INC. (BL) has a book value per share of $5.29, based on its most recent annual SEC filing.