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Friday 6 November 2026
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Blackbaud, Inc.
BLKB Technology Software Application
Blackbaud, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.1 billion, down 2.27% from fiscal 2024.
- Revenue
- +4.09%
- EPS
- +4.07%
- Free cash flow
- +2.26%
- Total debt
- −1.86%
Quarter to September 2026, against a year earlier
53.52
2.28
−4.09%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
77.42 | 66.42 | 65.52 | 306.15 | 338.59 | 677.94 | 0.00 | 2,852.33 | 0.00 | 26.17 |
Piotroski F-Score |
7 | 6 | 5 | 5 | 4 | 4 | 4 | 8 | 6 | 8 |
Altman Z-Score |
2.40 | 2.43 | 2.14 | 1.94 | 1.58 | 1.35 | 1.10 | 1.72 | 0.86 | 1.40 |
P/S ratio |
4.10 | 5.58 | 3.50 | 4.22 | 3.04 | 4.04 | 2.92 | 4.06 | 3.24 | 2.68 |
P/FCF ratio |
27.38 | 31.96 | 19.92 | 30.59 | 36.44 | 23.19 | 23.24 | 33.18 | 16.34 | 14.83 |
Altman Z″-Score (non-manufacturers) |
0.11 | 0.27 | 0.22 | (0.10) | 0.15 | 0.09 | (0.19) | 0.13 | (1.53) | (0.10) |
Beneish M-Score |
(2.82) | (2.72) | (2.96) | (2.86) | (2.73) | (2.58) | (2.91) | (2.81) | (3.89) | (2.84) |
P/Operating CF |
56.09 | 83.20 | 46.72 | 62.91 | 71.50 | 85.35 | 219.17 | (1,342.60) | 50.79 | 52.04 |
P/B ratio |
12.12 | 13.09 | 7.94 | 9.57 | 6.51 | 5.22 | 4.15 | 5.56 | 29.47 | 35.50 |
Price to Tangible BV |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Sales |
4.06 | 5.33 | 3.43 | 4.09 | 2.91 | 4.36 | 3.04 | 4.11 | 3.47 | 2.99 |
EV/EBITDA |
21.28 | 29.38 | 20.80 | 32.45 | 20.34 | 37.19 | 42.13 | 28.85 | 0.00 | 12.06 |
EV/Operating CF |
19.34 | 23.82 | 14.43 | 20.20 | 17.98 | 18.95 | 15.76 | 22.78 | 13.52 | 12.69 |
EV/FCF |
27.12 | 30.49 | 19.50 | 29.70 | 34.94 | 25.07 | 24.19 | 33.56 | 17.50 | 16.56 |
Quick Ratio |
0.68 | 0.76 | 0.67 | 0.67 | 0.73 | 0.68 | 0.68 | 0.69 | 0.71 | 0.71 |
Current Ratio |
0.75 | 0.82 | 0.74 | 0.74 | 0.81 | 0.77 | 0.75 | 0.78 | 0.78 | 0.79 |
Net Debt/EBITDA |
(0.20) | (1.41) | (0.45) | (0.97) | (0.87) | 2.80 | 1.64 | 0.33 | (1.80) | 1.26 |
Debt/Assets |
26.13% | 24.37% | 23.97% | 23.44% | 25.97% | 32.18% | 28.70% | 26.77% | 43.07% | 46.42% |
Debt/Equity |
1.38 | 1.30 | 1.04 | 1.18 | 1.25 | 1.33 | 1.15 | 0.96 | 8.48 | 13.05 |
Asset Turnover |
0.58 | 0.51 | 0.50 | 0.50 | 0.45 | 0.37 | 0.35 | 0.38 | 0.43 | 0.46 |
Operating CF/Net income |
3.38 | 2.39 | 4.49 | 15.32 | 19.17 | 37.50 | (4.49) | 66.15 | (0.99) | 2.31 |
Capex/Depreciation |
(0.62) | (0.52) | (0.65) | (0.68) | (0.77) | (0.62) | (0.68) | (0.58) | (0.54) | (0.70) |
Interest Coverage |
6.45 | 5.64 | 3.74 | 1.32 | 2.15 | 1.38 | (0.80) | 1.16 | (4.88) | 2.81 |
| 19.82% | 25.22% | 12.63% | 3.09% | 1.88% | 1.00% | (6.22%) | 0.39% | (64.03%) | 108.52% | |
| 3.58% | 4.74% | 2.63% | 0.66% | 0.38% | 0.23% | (1.52%) | 0.10% | (11.08%) | 4.71% | |
ROIC |
19.45% | 31.72% | 11.94% | 5.92% | 7.46% | 1.52% | (2.05%) | 3.37% | (43.23%) | 27.36% |
Return on Tangible Assets |
(37.24%) | (55.36%) | (26.75%) | (5.44%) | (8.65%) | (3.87%) | 22.20% | (1.79%) | 163.20% | (68.87%) |
Average Days of Receivables |
44.37 | 45.00 | 38.00 | 36.24 | 38.26 | 40.80 | 35.55 | 33.70 | 27.03 | 26.47 |
Research and Development Expense of Revenue |
12.28% | 11.40% | 11.64% | 11.79% | 10.97% | 13.43% | 14.83% | 13.32% | 13.31% | 12.24% |
Selling, General and Administrative Expense of Revenue |
31.64% | 33.54% | 35.26% | 37.49% | 37.74% | 35.85% | 39.82% | 36.32% | 29.47% | 29.44% |
Intangible Assets out of Total Assets |
0.53 | 0.47 | 0.52 | 0.48 | 0.45 | 0.59 | 0.56 | 0.56 | 0.47 | 0.49 |
Share Based Compensation of Revenue |
4.46% | 5.15% | 5.69% | 6.51% | 9.55% | 12.98% | 10.42% | 11.54% | 9.09% | 8.23% |
Graham Net Nets |
(0.18) | (0.15) | (0.22) | (0.23) | (0.29) | (0.37) | (0.43) | (0.26) | (0.37) | (0.46) |
Graham Number |
10.07 | 15.17 | 13.08 | 6.98 | 5.82 | 6.30 | 0.00 | 3.22 | 0.00 | 9.86 |
Earnings Yield |
1.29% | 1.51% | 1.53% | 0.33% | 0.30% | 0.15% | (1.47%) | 0.04% | (7.95%) | 3.82% |
Free Cash Flow Yield |
3.65% | 3.13% | 5.02% | 3.27% | 2.74% | 4.31% | 4.30% | 3.01% | 6.12% | 6.74% |
Revenue per Share |
15.86 | 16.90 | 17.98 | 18.88 | 18.95 | 19.57 | 20.52 | 21.07 | 22.84 | 23.67 |
Operating CF per Share |
3.33 | 3.78 | 4.27 | 3.83 | 3.07 | 4.51 | 3.95 | 3.80 | 5.85 | 5.57 |
Capex per Share |
(0.95) | (0.83) | (1.11) | (1.22) | (1.49) | (1.10) | (1.38) | (1.22) | (1.33) | (1.30) |
Free Cash Flow per Share |
2.38 | 2.95 | 3.16 | 2.60 | 1.58 | 3.41 | 2.58 | 2.58 | 4.52 | 4.27 |
Cash per Share |
8.04 | 13.72 | 9.53 | 12.10 | 13.39 | 13.75 | 14.23 | 13.86 | 16.01 | 15.92 |
Shareholders Equity per Share |
5.37 | 7.21 | 7.92 | 8.32 | 8.84 | 15.12 | 14.43 | 15.39 | 2.51 | 1.78 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
5.37 | 7.21 | 7.92 | 8.32 | 8.84 | 15.12 | 14.43 | 15.39 | 2.51 | 1.78 |
Free Cash Flow |
109.58 | 137.74 | 149.04 | 124.11 | 76.11 | 161.51 | 132.83 | 135.51 | 228.77 | 203.55 |
Working Capital |
(172.20) | (175.24) | (207.67) | (254.30) | (194.34) | (258.66) | (312.00) | (267.38) | (275.46) | (252.00) |
Capital Expenditures |
(44.05) | (38.55) | (52.35) | (58.37) | (71.85) | (52.15) | (71.06) | (64.13) | (67.20) | (62.00) |
Net Current Asset Value |
(554.75) | (662.19) | (643.54) | (861.66) | (799.52) | (1,403.59) | (1,330.03) | (1,173.82) | (1,392.57) | (1,375.54) |
EV/EBIT |
43.56 | 61.60 | 48.92 | 135.80 | 71.41 | 162.57 | 0.00 | 98.11 | 0.00 | 17.67 |
Capex to Sales |
0.06 | 0.05 | 0.06 | 0.06 | 0.08 | 0.06 | 0.07 | 0.06 | 0.06 | 0.05 |
Price to Operating Income |
43.97 | 64.56 | 49.97 | 139.86 | 74.47 | 150.35 | 0.00 | 97.00 | 0.00 | 15.83 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
1.42 | 1.77 | 2.01 | 2.43 | 0.89 | 0.75 | 0.97 | 1.13 | 1.35 | 1.04 |
Cash ROIC |
11.41% | 9.74% | 12.31% | 8.61% | 4.75% | 6.95% | 5.68% | 5.85% | 11.37% | 10.42% |
Accounts Receivable Turnover |
8.66 | 8.47 | 9.15 | 10.13 | 9.87 | 9.30 | 10.24 | 10.79 | 12.30 | 13.49 |
Accounts Payable Turnover |
15.97 | 15.09 | 12.89 | 10.18 | 11.34 | 17.76 | 15.64 | 15.00 | 13.77 | 11.90 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
25.04 | 24.90 | 33.02 | 41.59 | 23.74 | 18.17 | 30.74 | 18.09 | 35.45 | 21.46 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
84.49 | 93.07 | 92.78 | 88.87 | 92.56 | 99.71 | 103.38 | 102.64 | 93.86 | 83.67 |
Average Payables |
21.24 | 23.98 | 29.62 | 41.11 | 37.76 | 24.95 | 32.31 | 33.87 | 38.00 | 39.08 |
Average Assets |
1,266.77 | 1,554.03 | 1,706.58 | 1,804.13 | 2,018.85 | 2,508.18 | 2,982.16 | 2,952.49 | 2,704.14 | 2,443.34 |
Average Common Equity |
229.07 | 291.92 | 355.04 | 385.27 | 411.46 | 571.60 | 730.55 | 776.37 | 467.77 | 105.95 |
Columns are period end dates · fundamentals updated 2 Nov 2026