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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. In the quarter to June 2026, revenue grew 3.04%, EPS grew 46.3%, free cash flow grew 46.2% and total debt was flat, each against the same quarter a year earlier. Dividend growth for ten consecutive years.

51.83 0.44 +0.86%
Market cap
$2.3B
P/E
15.9×
Fwd P/E
9.0×
Dividend yield
—
F-score
8/9
Altman Z
1.40
Beneish M
−2.84
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 5.81
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 2 — — 4 1 — — 1 — 3 1 —
Insider Ownership 22.90%

Capital & Financial Ratios $m

Market Cap 2,330.00
Revenue 1,148.14
Net Income 150.68
Free Cash Flow 276.59
Net Debt 269.00
Current Ratio 0.83 (below 1: weak)
Debt/Equity 17.16 (above 2: weak)
P/E ratio 15.95
Fwd P/E 8.98
P/S ratio 2.02
P/B ratio 34.61 (above 6: high)
Past 5Y EPS Growth 71.45% (at or above 15%: strong)
This Y EPS Growth 17.87% (at or above 15%: strong)
Next Y EPS Growth 13.82%
Next Y revenue growth 4.31%
Next 5Y EPS Growth 11.09%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.3×, against a ten-year median of 3.9×; over the ten years it ranged from 1.4× in 2026 to 6.4× in 2018.
P/E against its own 10 years 7.44%
10-year low 10-year high
P/S against its own 10 years 5.97%
10-year low 10-year high
P/B against its own 10 years 93.33%
10-year low 10-year high
EV/Sales against its own 10 years 5.75%
10-year low 10-year high
EV/FCF against its own 10 years 4.17%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 0.12
0.12
2019 0.48
0.12
0.12
0.12
0.12
2018 0.48
0.12
0.12
0.12
0.12
2017 0.48
0.12
0.12
0.12
0.12
2016 0.48
0.12
0.12
0.12
0.12
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 728 810 759 881
Receivables 102 86 82 141
Inventory — — — —
Other — — — —
930 977 930 1,119
2023 2024 2025 Q'26
Payables 25 51 27 35
ST’ Debt 19 24 23 23
Other 696 742 720 852
1,197 1,252 1,182 1,351

Compound Annual Growth %

10y 5y 3y
Sales 5.87% 4.32% 2.17%
Cash Flow 7.47% 12.41% 9.21%
Earnings 16.19% 71.64% 0.00%
Book Value (8.67%) (27.55%) (51.47%)

Revenue $m

Mar Jun Sep Dec Year
’26 281 291 — — —
’25 270 282 281 295 1,128
’24 279 287 287 301 1,155
’23 262 271 278 297 1,107
’22 257 265 261 275 1,058
’21 219 229 231 248 928
’20 224 232 215 243 913
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 51 91 — — —
’25 1 67 139 58 266
’24 65 54 104 74 296
’23 22 53 128 (3) 200
’22 25 57 108 14 204
’21 30 70 70 44 214
’20 (25) 62 72 39 148
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 37 75 — — —
’25 (12) 52 123 41 204
’24 51 33 88 57 229
’23 6 37 111 (19) 136
’22 8 40 89 (4) 133
’21 17 57 58 30 162
’20 (38) 48 41 25 76
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.67 0.79 — — —
’25 0.10 0.54 0.98 0.76 2.37
’24 0.10 0.42 0.40 (6.82) (5.68)
’23 (0.28) 0.04 0.17 0.10 0.06
’22 (0.20) (0.07) (0.20) (0.41) (0.88)
’21 0.00 0.14 0.13 (0.15) 0.12
’20 0.10 0.24 0.10 (0.28) 0.16
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 49.89 61.98 58.23 60.00 38.22 56.00 43.54 53.39 66.47 54.56

Analyst estimates 2026–2028

Powerpack
High 71.76 104.55 120.35 97.35 83.70 86.96 83.98 88.56 88.95 81.39
People
People Employees 3,156 3,182 3,353 3,611 3,100 3,600 3,200 3,000 2,600 2,800
Revenue/emp, $m 0.23 0.25 0.25 0.25 0.29 0.26 0.33 0.37 0.44 0.40
Income, $m
Income, $m Revenue 732 788 849 900 913 928 1,058 1,107 1,155 1,128
Gross margin, % 53.64 54.10 55.02 53.53 53.13 52.23 52.24 54.11 54.69 58.78
EBT 57 58 45 11 22 7 (56) 19 (312) 132
EBT margin, % 7.84 7.40 5.26 1.18 2.37 0.76 (5.25) 1.74 (27.06) 11.68
Net income 45 74 45 12 8 6 (45) 3 (300) 115
Depreciation 71 75 80 86 94 84 105 111 124 89
Per share, $
Per share, $ Revenue 15.86 16.90 17.98 18.88 18.95 19.57 20.52 21.07 22.84 23.67
Earnings 0.90 1.41 0.95 0.25 0.16 0.12 (0.88) 0.06 (5.68) 2.41
Cash flow 3.33 3.78 4.27 3.83 3.07 4.51 3.95 3.80 5.85 5.57
Capex (0.95) (0.83) (1.11) (1.22) (1.49) (1.10) (1.38) (1.22) (1.33) (1.30)
Free cash flow 2.38 2.95 3.16 2.60 1.58 3.41 2.58 2.58 4.52 4.27
Book value 5.37 7.21 7.92 8.32 8.84 15.12 14.43 15.39 2.51 1.78
Shares, m 46 47 47 48 48 47 52 53 51 48
Valuation, ×
Valuation, × P/E 77.42 66.42 65.52 306.15 338.59 677.94 0.00 2,852.33 0.00 26.17
P/S 4.10 5.58 3.50 4.22 3.04 4.04 2.92 4.06 3.24 2.68
P/B 12.12 13.09 7.94 9.57 6.51 5.22 4.15 5.56 29.47 35.50
EV/Sales 4.06 5.33 3.43 4.09 2.91 4.36 3.04 4.11 3.47 2.99
EV/FCF 27.12 30.49 19.50 29.70 34.94 25.07 24.19 33.56 17.50 16.56
Cash, $m
Cash, $m Operating cash flow 154 176 201 182 148 214 204 200 296 266
Capex (44) (39) (52) (58) (72) (52) (71) (64) (67) (62)
Free cash flow 110 138 149 124 76 162 133 136 229 204
Balance, $m
Balance, $m Working capital (172) (175) (208) (254) (194) (259) (312) (267) (275) (252)
Total debt 342 438 387 467 531 956 859 780 1,075 1,110
Net debt (28) (202) (63) (110) (114) 304 125 51 265 351
Shareholders’ equity 248 336 374 397 426 717 744 809 127 85
Returns, %
Returns, % ROA 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
ROE 19.82 25.22 12.63 3.09 1.88 1.00 (6.22) 0.39 (64.03) 108.52
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Blackbaud, Inc. 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. $2.5B 20.5× 17.6× +0.99% (above 0%: growing) −18.18% (below 0%: shrinking) +175.78% (above 0%: growing) 23.31% 5.98% Compare
ADEA Adeia Inc. $2.4B 18.1× 40.6× +12.11% (above 0%: growing) +6.67% (above 0%: growing) +94.36% (above 0%: growing) 100.00% 26.40% Compare
ASAN Asana, Inc. $2.4B — (loss-making) — (loss-making) +9.90% (above 0%: growing) n/m +390.69% (above 0%: growing) 85.99% (19.05%) Compare
BLKB Blackbaud, Inc. $2.3B 15.9× 9.0× +3.04% (above 0%: growing) +46.30% (above 0%: growing) +46.16% (above 0%: growing) 61.31% 21.34%
BTDR Bitdeer Technologies Group $2.3B — (loss-making) — (loss-making) +47.05% (above 0%: growing) n/m +5.54% (above 0%: growing) (3.73%) (44.47%) Compare
DBD Diebold Nixdorf, Incorporated $2.3B 21.5× — +1.70% (above 0%: growing) +36.36% (above 0%: growing) −327.56% (below 0%: shrinking) 25.74% 6.17% Compare
NCNO nCino Inc. $2.2B 66.2× 43.6× +8.19% (above 0%: growing) n/m +170.13% (above 0%: growing) 62.59% 8.46% Compare
VERX Vertex, Inc. $2.2B 389× 73.1× +10.52% (above 0%: growing) n/m −86.05% (below 0%: shrinking) 64.37% (2.18%) Compare
SOUN SoundHound AI, Inc. $2.2B — (loss-making) — (loss-making) +45.02% (above 0%: growing) n/m −49.37% (below 0%: shrinking) 45.12% (69.95%) Compare
Median of peers $2.3B 21.5× 42.1× +10.21% +6.67% +49.95% 53.86% 1.90%

All 237 Software Application stocks →

Blackbaud, Inc. (BLKB) key facts

  • Concern: Blackbaud, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.1 billion, down 2.27% from fiscal 2024.
  • Blackbaud, Inc. (BLKB) is a Software Application company in the Technology sector, listed on Nasdaq.
  • As of October 16, 2026, BLKB traded at $51.83, a market capitalization of $2.3 billion.
  • Return on equity was 108.5% and debt-to-equity 17.16.
  • Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 1.40 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Blackbaud, Inc. (BLKB) Latest News

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stockrow.com/BLKB · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com