Blackbaud, Inc. (BLKB) vs nCino Inc. (NCNO)

Blackbaud, Inc. and nCino Inc. are both Software Application companies. Blackbaud, Inc. and nCino Inc. are of similar size ($2.1B and $2.0B). Blackbaud, Inc. trades at the lower P/E: 13.3× against 62.6×. nCino Inc. grew revenue faster over the last twelve months: 8.57% against 0.71%. Blackbaud, Inc. has the higher net margin (13.1% vs 5.40%) and the higher return on invested capital (42.3% vs 2.63%). Across the 22 metrics below, Blackbaud, Inc. leads on 16 and nCino Inc. on 6.

Valuation

Metric BLKB NCNO Software Application median
P/E 13.29 62.61 24.79
P/S 1.68 3.27 2.67
P/B 28.84 2.19 3.01
Price to free cash flow 6.99 15.40 16.59
EV/EBITDA 7.02 21.15 14.40
EV/Sales 1.92 3.66 2.62
Earnings yield 7.52% 1.60% 0.00%
Free cash flow yield 14.31% 6.49% 1.91%

Profitability

Metric BLKB NCNO Software Application median
Gross margin 59.62% 62.24% 67.03%
Operating margin 19.79% 7.92% 0.00%
Net margin 13.12% 5.40% 0.00%
Free cash flow margin 24.09% 21.24% 4.32%
Return on equity 194.45% 3.38% 0.00%
Return on assets 5.77% 2.11% 0.00%
Return on invested capital 42.25% 2.63% 0.00%

Growth

Metric BLKB NCNO Software Application median
Revenue growth (TTM) 0.71% 8.57% 12.40%
EPS growth (last fiscal year) 141.73% 115.15% —
Revenue growth, 5-year CAGR 4.32% 23.83% 13.72%
Net income growth, 5-year CAGR 71.64% 0.00% 0.00%

Health

Metric BLKB NCNO Software Application median
Debt to equity 17.16 0.35 0.02
Current ratio 0.83 0.85 1.55
Net debt to EBITDA 1.26 2.88 0.06

Dividend

Metric BLKB NCNO Software Application median
Dividend yield — — 1.25%
Payout ratio 0.00 0.00 0.00

Size

Metric BLKB NCNO Software Application median
Market cap 1.96b 2.11b 396.11m

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