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BlackLine

BL Technology Software Application

BlackLine’s revenue for fiscal 2025 (year ended December 2025) was $700.4 million, up 7.21% from fiscal 2024.

Revenue
+9.18%
EPS
+115.4%
Free cash flow
+43.7%
Total debt
+0.71%

Quarter to June 2026, against a year earlier

33.65 0.74 −2.15%
Market cap
$2.0B
P/E
57.0×
Fwd P/E
35.5×
Dividend yield
—
F-score
7/9
Altman Z
2.08
Beneish M
−2.66
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 2.44
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — 2 2 — 2 — — —
Insider Ownership 20.77%

Capital & Financial Ratios $m

Size
Market Cap 1,960.00
Revenue ttm 732.45
Net income ttm 23.33
Free cash flow ttm 149.12
Net debt Q 141.77
Valuation
P/E 57.03 (above 35: high)
Forward P/E 35.50 (above 35: high)
Price / sales 2.69
Forward P/S Powerpack
Price / FCF 13.21
Price / book 6.23 (above 6: high)
Financial health
Current ratio Q 1.72 (at or above 1.5: strong)
Debt / equity Q 2.12 (above 2: weak)
Interest coverage Q 4.66
Growth
Revenue growth Q +9.18% (above 0%: growing)
Operating income growth Q +45.66% (above 0%: growing)
EPS, this year +16.98% (at or above 15%: strong)
EPS, next year A +11.15%
Revenue, next year A +9.48%
EPS, past 5 yrs —
EPS, next 5 yrs A +15.75% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.9×, against a ten-year median of 9.2×; over the ten years it ranged from 2.3× in 2026 to 21.2× in 2020.
P/E against its own 10 years 61.76%
10-year low 10-year high
P/S against its own 10 years 5.28%
10-year low 10-year high
P/B against its own 10 years 14.53%
10-year low 10-year high
EV/Sales against its own 10 years 5.40%
10-year low 10-year high
EV/FCF against its own 10 years 5.67%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,204 886 778 528
Receivables 172 178 218 190
Inventory — — — —
Other — — — —
1,407 1,092 1,025 748
2023 2024 2025 Q'26
Payables 9 8 16 6
ST’ Debt — — — —
Other — — — —
643 422 695 435

Compound Annual Growth %

10y 5y 3y
Sales 23.68% 14.77% 10.23%
Cash Flow 66.98% 25.38% 44.66%
Earnings 0.00% 0.00% 0.00%
Book Value 7.18% (4.67%) 43.75%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.57 Actual 0.61

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.51 0.51 Met by 0.00
Q4 FY25 0.58 0.63 Beat by 0.05
Q1 FY26 0.45 0.56 Beat by 0.11
Q2 FY26 0.57 0.61 Beat by 0.04
Q3 FY26 0.63 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.13 0.14 — — —
’25 0.10 0.13 0.09 0.08 0.39
’24 0.17 1.03 0.27 0.79 1.45
’23 (0.16) 0.39 0.19 0.32 0.81
’22 (0.23) (0.18) (0.34) 0.18 (0.49)
’21 (0.67) (0.44) (0.23) (0.63) (1.97)
’20 (0.23) (0.15) (0.15) (0.30) (0.83)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 183 188 — — —
’25 167 172 178 183 700
’24 157 161 166 169 653
’23 139 145 151 156 590
’22 120 128 134 140 523
’21 99 102 109 115 426
’20 83 83 90 96 352
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 46 45 — — —
’25 47 32 64 27 170
’24 50 41 56 44 191
’23 23 25 37 42 127
’22 0 6 24 26 56
’21 29 12 17 22 80
’20 9 10 22 15 55
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 36 36 — — —
’25 33 25 57 20 135
’24 44 34 49 37 164
’23 14 18 31 35 99
’22 (6) (5) 17 20 26
’21 23 8 10 15 57
’20 5 4 19 8 35
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 128 176 228 289 352 426 523 590 653 700 732 +20.8% 767 847 934 +10.1%
Gross margin, % 76.40 76.43 77.67 79.59 80.39 77.01 75.26 75.12 75.21 75.25 75.56 (1.2) pt
EBT (35) (33) (28) (30) (39) (101) (47) 61 125 48 47 n/m
EBT margin, % (27.33) (18.70) (12.16) (10.53) (11.00) (23.69) (9.07) 10.26 19.09 6.89 6.46 +34.2 pt
Net income (26) (33) (29) (33) (47) (115) (29) 53 161 25 23 n/m
Per share, $
Per share, $ Revenue 3.01 3.37 4.23 5.22 6.19 7.30 8.78 9.70 10.52 11.40 12.51 +15.9%
Earnings (0.62) (0.64) (0.52) (0.59) (0.83) (1.97) (0.49) 0.87 2.59 0.40 0.59 n/m
Cash flow (0.11) 0.12 0.30 0.54 0.96 1.37 0.94 2.08 3.07 2.76 3.11 n/m
Capex (0.12) (0.17) (0.22) (0.18) (0.34) (0.40) (0.51) (0.45) (0.43) (0.56) (0.56) +19.0%
Free cash flow (0.23) (0.04) 0.08 0.36 0.62 0.97 0.43 1.63 2.64 2.20 2.55 n/m
Book value 6.86 6.08 5.92 7.21 7.43 5.57 1.88 4.29 7.19 5.41 5.40 (2.6%)
Shares, m 42 52 54 55 57 58 60 61 62 61 60 +4.2%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 71.70 23.37 138.23 57.03 23.3
P/S 9.26 9.92 9.69 9.87 21.55 14.19 7.72 6.08 5.78 4.85 2.69 9.9
P/B 4.07 5.49 6.91 7.16 17.96 18.59 36.11 13.75 8.45 10.22 6.23 12.9
EV/Sales 8.96 9.66 9.40 9.10 21.19 14.03 8.33 5.99 5.80 4.70 2.89 9.7
EV/FCF (117.00) (770.65) 512.31 131.34 211.06 105.13 168.68 35.68 23.11 24.41 14.21 32.4
Cash, $m
Cash, $m Operating cash flow (5) 6 16 30 55 80 56 127 191 170 182 n/m
Capex (5) (9) (12) (10) (19) (23) (30) (28) (27) (35) (33) +24.0%
Free cash flow (10) (2) 4 20 35 57 26 99 164 135 149 n/m
Balance, $m
Balance, $m Working capital 55 54 63 516 432 1,025 882 765 670 330 313 +21.9%
Net debt (103) (111) (131) (221) (128) (67) 318 (64) 7 (112) 142 +0.9%
Shareholders’ equity 291 317 319 399 422 325 112 261 447 332 316 +1.5%
Returns, %
Returns, % ROA (7.45) (7.58) (6.02) (4.31) (4.41) (7.86) (1.56) 2.61 8.21 1.37 2.13 +8.8 pt
ROIC (7.70) (9.19) (9.88) (9.84) (4.22) (9.36) (8.17) 4.55 2.55 7.25 4.32 +15.0 pt
ROE (11.51) (10.98) (9.02) (9.06) (11.43) (30.83) (13.45) 28.35 45.56 6.29 9.53 +17.8 pt
People
People Employees 597 740 850 1,055 1,325 1,557 1,814 1,750 1,830 1,850 — +13.4%
Revenue/emp, $m 0.21 0.24 0.27 0.27 0.27 0.27 0.29 0.34 0.36 0.38 — +6.5%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

BlackLine vs peers in Software Application (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
PLUS ePlus inc. $2.2B 17.9× 19.1× +0.99% (above 0%: growing) −27.78% (below 0%: shrinking) +175.78% (above 0%: growing) 23.31% 5.98% Compare
AMPL Amplitude, Inc. $2.0B — (loss-making) — (loss-making) +24.93% (above 0%: growing) n/m +73.60% (above 0%: growing) 67.24% (22.25%) Compare
BL BlackLine $2.0B 57.0× 35.5× +9.18% (above 0%: growing) +115.38% (above 0%: growing) +43.65% (above 0%: growing) 75.96% 5.85%
DBD Diebold Nixdorf, Incorporated $2.0B 26.6× — +5.19% (above 0%: growing) −81.35% (below 0%: shrinking) −346.12% (below 0%: shrinking) 24.86% 3.90% Compare
KARO Karooooo Ltd. $2.0B 30.1× 28.1× +32.91% (above 0%: growing) +26.67% (above 0%: growing) +113.90% (above 0%: growing) 65.55% 25.75% Compare
SOUN SoundHound AI, Inc. $1.9B — (loss-making) — (loss-making) +45.02% (above 0%: growing) n/m −49.37% (below 0%: shrinking) 45.12% (69.95%) Compare
WLTH Wealthfront Corporation $1.7B — (loss-making) 28.3× +0.82% (above 0%: growing) −86.01% (below 0%: shrinking) +22.17% (above 0%: growing) 88.28% 18.27% Compare
ADEA Adeia Inc. $1.6B 13.8× 31.7× −8.18% (below 0%: shrinking) −74.37% (below 0%: shrinking) −75.31% (below 0%: shrinking) 100.00% 11.28% Compare
BTDR Bitdeer Technologies Group $1.4B — (loss-making) — (loss-making) +47.05% (above 0%: growing) n/m +5.54% (above 0%: growing) (3.73%) (44.47%) Compare
Median of peers $1.9B 22.3× 28.2× +15.06% −74.37% +13.86% 55.34% 4.94%

All 230 Software Application stocks →

Pay and ownership Proxy statement filed 25 March 2026

Ownership

Directors and executive officers, together 9.10%
Funds Affiliated with BlackRock 13.20%
Funds Affiliated with Vanguard 11.30%
Funds Affiliated with Clearlake 9.60%
Therese Tucker 8.10%
Funds Affiliated with Fivespan Partners, LP 5.10%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

BlackLine (BL) Latest News

6 Nov

Impact 3 · · GuruFocus.com
Impact 3 · · The Motley Fool transcript

5 Nov

Impact 3 · · MarketBeat transcript
Impact 3 · · GlobeNewswire

29 Oct

Impact 4 · · GlobeNewswire

22 Oct

Impact 3 · · GlobeNewswire

13 Oct

Impact 4 · · GlobeNewswire

10 Oct

Impact 4 · · Simply Wall St.
Impact 3 · · Simply Wall St.
Impact 3 · · Simply Wall St.

9 Oct

Impact 4 · · Simply Wall St.

6 Oct

Impact 4 · · GlobeNewswire

28 Sep

Impact 3 · · Insider Monkey
Impact 3 · · The Motley Fool

21 Sep

Impact 4 · · GlobeNewswire

25 Aug

Impact 4 · · Trefis

14 Aug

Impact 3 ·

11 Aug

Impact 4 · · The Motley Fool transcript

6 Aug

Impact 4 ·

5 Aug

Impact 4 · transcript
Impact 3 · · Moby transcript
Impact 3 ·
Impact 3 ·

4 Aug

Impact 3 ·
Impact 3 · · MarketBeat transcript
Impact 3 ·
Impact 3 ·
Impact 3 ·

3 Aug

Impact 3 ·

28 Jul

Impact 4 ·

BL metrics, ten years each

stockrow.com/BL · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com