BlackLine, Inc. (BL) 10-Year Financial Performance & Capital Metrics

BL • • Industrial / General

TechnologyApplication SoftwareFinancial Technology & PaymentsPayment Processing

AboutBlackLine, Inc. provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles high volumes of individual transactions; and task management to create and manage processes and task lists. The company's financial close management solutions also include journal entry that allows users to generate, review, and post manual journal entries; variance analysis that monitors and identifies anomalous fluctuations in balance sheet and income statement account balances; consolidation integrity manager that manages the automated system-to-system tie-out process that occurs during the consolidation phase of the financial close; and compliance, an integrated solution that facilitates compliance-related initiatives, consolidates project management, and provides visibility over control self-assessments and testing. In addition, it offers accounts receivable automation solutions, which include cash application, credit and risk management, collections management, disputes and deductions, team and task management, and AR intelligence solutions. Further, the company provides intercompany workflow that stores permissions by entity and transaction type thereby ensuring both the initiator and the approver of the intercompany transaction are authorized to conduct business; intercompany processing, which records an organization's intercompany transactions; and netting and settlement that generates a real-time settlement matrix, which shows the balance of transactions. The company sells its solutions primarily through direct sales force to multinational corporations, large domestic enterprises, and mid-market companies across various industries. BlackLine, Inc. was incorporated in 2001 and is headquartered in Woodland Hills, California.Show more

Revenue $653M +10.7%
EBITDA $69M +6.9%
Net Income $161M +205.1%
EPS (Diluted) 1.45 +98.6%
Gross Margin 75.21% +0.1%
EBITDA Margin 10.54% -3.5%
Operating Margin 2.84% +16.7%
Net Margin 24.67% +175.5%
ROE 41.64% +68.2%
ROIC 1.43% +83.8%
Debt/Equity 1.90 -60.9%
Interest Coverage 2.12 -13.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 8/9
✓FCF machine: 28.9% free cash flow margin
✓Strong 5Y sales CAGR of 17.7%
✓Good 3Y average ROE of 18.1%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y28.88%

5Y17.72%

3Y15.35%

TTM7.36%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-40.04%

EPS CAGR

10Y-

5Y-

3Y-

TTM-38.2%

ROCE

10Y Avg-6.11%

5Y Avg-1.41%

3Y Avg-0.47%

Latest1.3%

Peer Comparison

Payment Processing

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BILLBill.com Holdings, Inc.	4.83B	48.25	209.78	13.36%	0.8%	0.31%	6.41%	0.45
BLBlackLine, Inc.	3.12B	52.43	36.16	10.74%	11.07%	20.75%	6.05%	1.90
NATLNCR Atleos Corporation	3.01B	40.72	33.11	3.01%	3.09%	39.88%	6.81%	11.54
OLBThe OLB Group, Inc.	6.41M	0.73	-0.12	-58%	-92.68%	-169.91%		0.12
LSPDLightspeed Commerce Inc.	1.6B	11.74	-2.71	18.43%	-58.98%	-45.18%		0.01
CCGWWCheche Group Inc. Warrant	9.09M	0.02		5.2%	-1.76%	-16.69%		0.10

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	83.61M	123.12M	177.03M	227.79M	288.98M	351.74M	425.71M	522.94M	590M	653.34M
Revenue Growth %	0.62%	0.47%	0.44%	0.29%	0.27%	0.22%	0.21%	0.23%	0.13%	0.11%
Cost of Goods Sold+	22.73M	30.21M	41.49M	50.87M	58.98M	68.97M	97.87M	129.38M	146.79M	161.97M
COGS % of Revenue	0.27%	0.25%	0.23%	0.22%	0.2%	0.2%	0.23%	0.25%	0.25%	0.25%
Gross Profit+	60.88M	92.91M	135.54M	176.91M	230M	282.76M	327.83M	393.55M	443.2M	491.37M
Gross Margin %	0.73%	0.75%	0.77%	0.78%	0.8%	0.8%	0.77%	0.75%	0.75%	0.75%
Gross Profit Growth %	0.74%	0.53%	0.46%	0.31%	0.3%	0.23%	0.16%	0.2%	0.13%	0.11%
Operating Expenses+	95.69M	126.85M	170.6M	206.75M	257.9M	302.66M	366.45M	449.75M	428.86M	472.83M
OpEx % of Revenue	1.14%	1.03%	0.96%	0.91%	0.89%	0.86%	0.86%	0.86%	0.73%	0.72%
Selling, General & Admin	77.47M	105.72M	146.73M	176M	214.89M	246.19M	289.13M	337.02M	314.68M	370.14M
SG&A % of Revenue	0.93%	0.86%	0.83%	0.77%	0.74%	0.7%	0.68%	0.64%	0.53%	0.57%
Research & Development	18.22M	21.13M	23.87M	30.75M	43.01M	56.46M	77.32M	108.89M	103.21M	100.97M
R&D % of Revenue	0.22%	0.17%	0.13%	0.14%	0.15%	0.16%	0.18%	0.21%	0.17%	0.15%
Other Operating Expenses	0	0	0	0	0	0	0	3.84M	10.96M	1.72M
Operating Income+	-34.81M	-33.93M	-35.06M	-29.84M	-27.9M	-19.89M	-38.61M	-56.2M	14.35M	18.54M
Operating Margin %	-0.42%	-0.28%	-0.2%	-0.13%	-0.1%	-0.06%	-0.09%	-0.11%	0.02%	0.03%
Operating Income Growth %	-0.91%	0.03%	-0.03%	0.15%	0.06%	0.29%	-0.94%	-0.46%	1.26%	0.29%
EBITDA+	-20.07M	-18.33M	-15.09M	-7.5M	-6.63M	1M	-11.49M	-13.38M	64.45M	68.88M
EBITDA Margin %	-0.24%	-0.15%	-0.09%	-0.03%	-0.02%	0%	-0.03%	-0.03%	0.11%	0.11%
EBITDA Growth %	-3.25%	0.09%	0.18%	0.5%	0.12%	1.15%	-12.47%	-0.17%	5.82%	0.07%
D&A (Non-Cash Add-back)	14.74M	15.61M	19.97M	22.34M	21.27M	20.89M	27.13M	42.82M	50.1M	50.34M
EBIT	-35.23M	-29.06M	-32.83M	-27.7M	-21.77M	-15.39M	-37.91M	-41.56M	66.41M	133.46M
Net Interest Income+	-3.21M	-5.93M	1.06M	2.13M	-2.52M	-18.81M	-62.24M	8.79M	46.16M	41.05M
Interest Income	0	4K	1.07M	2.14M	6.13M	4.5M	700K	14.64M	52.06M	49.81M
Interest Expense	3.21M	5.94M	13K	4K	8.65M	23.31M	62.95M	5.85M	5.9M	8.76M
Other Income/Expense	-3.63M	-22.56M	-2.43M	2.13M	-2.52M	-18.81M	-62.24M	8.79M	46.16M	106.16M
Pretax Income+	-38.45M	-45.75M	-37.49M	-27.7M	-30.42M	-38.7M	-100.86M	-47.41M	60.51M	124.7M
Pretax Margin %	-0.46%	-0.37%	-0.21%	-0.12%	-0.11%	-0.11%	-0.24%	-0.09%	0.1%	0.19%
Income Tax+	-13.71M	-6.59M	567K	162K	1.73M	702K	135K	-13.52M	1.45M	-43.07M
Effective Tax Rate %	0.64%	0.86%	1.02%	1%	1.07%	1.21%	1.14%	0.62%	0.87%	1.29%
Net Income+	-24.73M	-39.16M	-38.06M	-27.8M	-32.53M	-46.91M	-115.16M	-29.39M	52.83M	161.17M
Net Margin %	-0.3%	-0.32%	-0.21%	-0.12%	-0.11%	-0.13%	-0.27%	-0.06%	0.09%	0.25%
Net Income Growth %	-0.48%	-0.58%	0.03%	0.27%	-0.17%	-0.44%	-1.45%	0.74%	2.8%	2.05%
Net Income (Continuing)	-24.73M	-39.16M	-33.41M	-28.78M	-32.15M	-39.4M	-100.99M	-33.89M	59.06M	167.76M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	4.39M	4.91M	12.52M	28.7M	23.89M	30.06M	36.48M
EPS (Diluted)+	-0.50	-0.92	-0.73	-0.52	-0.58	-0.83	-1.97	-0.49	0.73	1.45
EPS Growth %	-0.47%	-0.84%	0.21%	0.29%	-0.12%	-0.43%	-1.37%	0.75%	2.49%	0.99%
EPS (Basic)	-0.50	-0.92	-0.73	-0.52	-0.58	-0.83	-1.97	-0.49	0.87	2.59
Diluted Shares Outstanding	49.33M	42.5M	52.16M	53.91M	55.32M	56.83M	58.35M	59.54M	72.05M	73.5M
Basic Shares Outstanding	49.33M	42.5M	52.16M	53.91M	55.32M	56.83M	58.35M	59.54M	60.85M	62.13M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	48.49M	163.82M	193.95M	221.52M	723.41M	674.12M	1.35B	1.25B	1.41B	1.09B
Cash & Short-Term Investments	15.21M	105.25M	112.58M	132.58M	607.75M	542.62M	1.2B	1.08B	1.2B	885.91M
Cash Only	15.21M	22.12M	31.1M	46.18M	120.23M	367.41M	539.74M	200.97M	271.12M	885.91M
Short-Term Investments	0	83.13M	81.48M	86.4M	487.51M	175.21M	658.96M	874.08M	933.36M	0
Accounts Receivable	24.23M	42.29M	61.92M	74.9M	102.83M	111.27M	125.13M	150.86M	171.61M	178.14M
Days Sales Outstanding	105.8	125.38	127.66	120.02	129.88	115.47	107.29	105.3	106.17	99.52
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	6.25M	9.67M	0	14.04M	0	0	0	23.66M	31.24M	28.35M
Total Non-Current Assets+	238.26M	256.61M	246.93M	272.35M	291.15M	439.39M	469.89M	694.09M	693.44M	732.63M
Property, Plant & Equipment	12.42M	11.32M	12.77M	13.54M	25.57M	21.95M	32.59M	34.52M	34.04M	34.61M
Fixed Asset Turnover	6.73x	10.88x	13.86x	16.83x	11.30x	16.03x	13.06x	15.15x	17.33x	18.88x
Goodwill	163.15M	185.14M	185.14M	185.14M	185.14M	289.71M	289.71M	443.86M	448.96M	448.96M
Intangible Assets	59.8M	58.71M	47.63M	36.81M	28.79M	64.74M	59.74M	122.93M	116.88M	104.97M
Long-Term Investments	0	400K	0	274K	0	0	0	0	0	0
Other Non-Current Assets	2.9M	1.45M	1.39M	36.87M	51.65M	63M	87.85M	92.78M	93.41M	90.88M
Total Assets+	286.75M	420.44M	440.88M	493.87M	1.01B	1.11B	1.82B	1.94B	2.1B	1.83B
Asset Turnover	0.29x	0.29x	0.40x	0.46x	0.28x	0.32x	0.23x	0.27x	0.28x	0.36x
Asset Growth %	0%	0.47%	0.05%	0.12%	1.05%	0.1%	0.63%	0.07%	0.08%	-0.13%
Total Current Liabilities+	74.42M	108.46M	137.04M	159.23M	207M	242.33M	322.58M	367.82M	642.57M	422.24M
Accounts Payable	4.65M	7.17M	7.25M	3.44M	7.4M	3.15M	7.47M	14.96M	8.62M	8.46M
Days Payables Outstanding	74.64	86.57	63.82	24.69	45.81	16.67	27.86	42.21	21.44	19.07
Short-Term Debt	558K	1.55M	0	0	0	0	0	0	249.23M	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	5.14M	8.36M	108.47M	5.11M	7.13M	16.69M	16.44M	8M	0	0
Current Ratio	0.65x	1.51x	1.42x	1.39x	3.49x	2.78x	4.18x	3.40x	2.19x	2.59x
Quick Ratio	0.65x	1.51x	1.42x	1.39x	3.49x	2.78x	4.18x	3.40x	2.19x	2.59x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	46.16M	20.56M	9.22M	8.68M	404.04M	436.58M	1.14B	1.44B	1.17B	919.64M
Long-Term Debt	28.27M	0	0	0	384.34M	407.03M	1.11B	1.38B	1.14B	892.67M
Capital Lease Obligations	558K	0	0	0	10.61M	7.36M	14.07M	10.08M	15.74M	20.34M
Deferred Tax Liabilities	5.91M	1.26M	1.33M	1.12M	4.57M	6.57M	8.18M	5.57M	6.39M	4.53M
Other Non-Current Liabilities	11.43M	16.93M	6.98M	7.29M	4.35M	15.55M	4.42M	39.78M	3.61M	708K
Total Liabilities	120.58M	129.03M	146.26M	167.91M	611.03M	678.91M	1.46B	1.81B	1.81B	1.34B
Total Debt+	29.38M	992K	442K	0	399.89M	418.54M	1.13B	1.4B	1.41B	916.6M
Net Debt	14.18M	-21.13M	-30.66M	-46.18M	279.65M	51.12M	593.88M	1.2B	1.14B	30.69M
Debt / Equity	0.18x	0.00x	0.00x	-	0.99x	0.96x	3.20x	10.32x	4.85x	1.90x
Debt / EBITDA	-	-	-	-	-	418.12x	-	-	21.89x	13.31x
Net Debt / EBITDA	-	-	-	-	-	51.07x	-	-	17.68x	0.45x
Interest Coverage	-10.83x	-5.72x	-2696.92x	-7459.00x	-3.23x	-0.85x	-0.61x	-9.61x	2.43x	2.12x
Total Equity+	166.17M	291.41M	294.63M	325.96M	403.52M	434.59M	353.74M	135.76M	290.94M	483.15M
Equity Growth %	-0.1%	0.75%	0.01%	0.11%	0.24%	0.08%	-0.19%	-0.62%	1.14%	0.66%
Book Value per Share	3.37	6.86	5.65	6.05	7.29	7.65	6.06	2.28	4.04	6.57
Total Shareholders' Equity	166.17M	291.41M	294.63M	321.57M	398.61M	422.07M	325.04M	111.87M	260.88M	446.67M
Common Stock	407K	513K	530K	547K	559K	577K	590K	600K	615K	628K
Retained Earnings	-48.16M	-87.33M	-125.47M	-130.59M	-163.6M	-201.65M	-301.74M	-272.97M	-214.8M	-48.99M
Treasury Stock	-254K	0	0	0	0	0	0	0	0	0
Accumulated OCI	-3.05M	-41K	-63K	45K	377K	376K	298K	-1.47M	205K	-361K
Minority Interest	0	0	0	4.39M	4.91M	12.52M	28.7M	23.89M	30.06M	36.48M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.01M	-4.81M	6.42M	16.14M	29.72M	54.73M	80.09M	56.01M	126.61M	190.84M
Operating CF Margin %	0.01%	-0.04%	0.04%	0.07%	0.1%	0.16%	0.19%	0.11%	0.21%	0.29%
Operating CF Growth %	-0.89%	-5.78%	2.34%	1.51%	0.84%	0.84%	0.46%	-0.3%	1.26%	0.51%
Net Income	-24.73M	-39.16M	-38.06M	-27.87M	-32.15M	-39.4M	-100.99M	-33.89M	52.83M	161.17M
Depreciation & Amortization	14.74M	17.42M	19.97M	22.34M	21.27M	20.89M	27.13M	42.82M	50.1M	50.34M
Stock-Based Compensation	5.5M	6.53M	16.04M	20.89M	34.05M	49.69M	65.87M	75.88M	77.97M	83.25M
Deferred Taxes	-13.94M	-7.43M	66K	-627K	1.31M	-381K	-817K	-14.4M	-1.52M	-54.8M
Other Non-Cash Items	3.06M	4.39M	4.72M	-142K	11.53M	27.32M	64.32M	-28.11M	-48.38M	-65.89M
Working Capital Changes	16.39M	13.44M	3.68M	1.54M	-6.3M	-3.39M	24.58M	13.72M	-4.38M	16.76M
Change in Receivables	-6.2M	-15.54M	-19.86M	-13.21M	-27.96M	-5.73M	-14.26M	-23.03M	-20.86M	-7.55M
Change in Inventory	7.68M	-621K	2.46M	-5.64M	-14.95M	0	0	0	0	0
Change in Payables	1.07M	3.54M	-25K	-4.01M	3.24M	-4.36M	4M	4.38M	-5.1M	-1.12M
Cash from Investing+	-12.37M	-119.67M	-7.03M	-15.98M	-408.45M	173.59M	-506.94M	-395.62M	-62.48M	924.44M
Capital Expenditures	-12.37M	-4.99M	-8.63M	-11.96M	-9.69M	-6.51M	-8.73M	-30.18M	-5.95M	-2.13M
CapEx % of Revenue	0.15%	0.04%	0.05%	0.05%	0.03%	0.02%	0.02%	0.06%	0.01%	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-2.27M	-3.27M	-4.62M	-5.67M	-5.06M	-12.91M	-14.54M	0	-21.64M	-6.27M
Cash from Financing+	859K	131.4M	9.59M	14.52M	452.51M	18.86M	599.24M	1.44M	6.15M	-500.14M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	1.42M	-1.51M	10.14M	18.32M	-30.71M	27.05M	-80.28M	11.6M	22.16M	-45.14M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-11.36M	-9.8M	-2.2M	4.18M	20.03M	35.31M	56.83M	25.83M	99.02M	188.71M
FCF Margin %	-0.14%	-0.08%	-0.01%	0.02%	0.07%	0.1%	0.13%	0.05%	0.17%	0.29%
FCF Growth %	-2.87%	0.14%	0.78%	2.9%	3.79%	0.76%	0.61%	-0.55%	2.83%	0.91%
FCF per Share	-0.23	-0.23	-0.04	0.08	0.36	0.62	0.97	0.43	1.37	2.57
FCF Conversion (FCF/Net Income)	-0.04x	0.12x	-0.17x	-0.58x	-0.91x	-1.17x	-0.70x	-1.91x	2.40x	1.18x
Interest Paid	634K	8.65M	8K	0	0	604K	506K	313K	313K	3.82M
Taxes Paid	6K	176K	868K	591K	1.01M	619K	890K	1.12M	3.1M	11.53M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-14.13%	-17.12%	-12.99%	-8.96%	-8.92%	-11.19%	-29.22%	-12.01%	24.76%	41.64%
Return on Invested Capital (ROIC)	-14.34%	-11.3%	-9.84%	-8.23%	-4.35%	-2.55%	-4.04%	-3.69%	0.78%	1.43%
Gross Margin	72.81%	75.46%	76.57%	77.67%	79.59%	80.39%	77.01%	75.26%	75.12%	75.21%
Net Margin	-29.58%	-31.8%	-21.5%	-12.21%	-11.26%	-13.34%	-27.05%	-5.62%	8.95%	24.67%
Debt / Equity	0.18x	0.00x	0.00x	-	0.99x	0.96x	3.20x	10.32x	4.85x	1.90x
Interest Coverage	-10.83x	-5.72x	-2696.92x	-7459.00x	-3.23x	-0.85x	-0.61x	-9.61x	2.43x	2.12x
FCF Conversion	-0.04x	0.12x	-0.17x	-0.58x	-0.91x	-1.17x	-0.70x	-1.91x	2.40x	1.18x
Revenue Growth	61.79%	47.26%	43.78%	28.67%	26.86%	21.72%	21.03%	22.84%	12.82%	10.74%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024
Subscription and Circulation	-	-	-	-	328.56M	398.63M	491.19M	555.52M	619.29M
Subscription and Circulation Growth	-	-	-	-	-	21.33%	23.22%	13.10%	11.48%
Technology Service	-	-	10.38M	16.53M	23.18M	27.07M	31.75M	34.48M	34.05M
Technology Service Growth	-	-	-	59.21%	40.23%	16.80%	17.28%	8.60%	-1.25%
Subscription And Circulation	-	-	217.41M	272.45M	-	-	-	-	-
Subscription And Circulation Growth	-	-	-	25.32%	-	-	-	-	-

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	102.9M	141.24M	180.15M	223.38M	264.02M	304.6M	373.42M	422.19M	457.95M
UNITED STATES Growth	-	37.27%	27.55%	23.99%	18.19%	15.37%	22.59%	13.06%	8.47%
Non-US	-	-	-	-	87.72M	121.1M	149.51M	167.8M	195.38M
Non-US Growth	-	-	-	-	-	38.05%	23.46%	12.23%	16.43%
Non Us	20.23M	35.79M	47.64M	65.6M	-	-	-	-	-
Non Us Growth	-	76.94%	33.10%	37.71%	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

BlackLine, Inc. (BL) has a price-to-earnings (P/E) ratio of 36.2x. This suggests investors expect higher future growth.

Growth & Financials

BlackLine, Inc. (BL) reported $686.7M in revenue for fiscal year 2024. This represents a 2048% increase from $32.0M in 2013.

BlackLine, Inc. (BL) grew revenue by 10.7% over the past year. This is steady growth.

Yes, BlackLine, Inc. (BL) is profitable, generating $76.0M in net income for fiscal year 2024 (24.7% net margin).

Dividend & Returns

BlackLine, Inc. (BL) has a return on equity (ROE) of 41.6%. This is excellent, indicating efficient use of shareholder capital.

BlackLine, Inc. (BL) generated $170.3M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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BlackLine, Inc. (BL) 10-Year Financial Performance & Capital Metrics

BL • • Industrial / General

TechnologyApplication SoftwareFinancial Technology & PaymentsPayment Processing

Revenue $653M +10.7%
EBITDA $69M +6.9%
Net Income $161M +205.1%
EPS (Diluted) 1.45 +98.6%
Gross Margin 75.21% +0.1%
EBITDA Margin 10.54% -3.5%
Operating Margin 2.84% +16.7%
Net Margin 24.67% +175.5%
ROE 41.64% +68.2%
ROIC 1.43% +83.8%
Debt/Equity 1.90 -60.9%
Interest Coverage 2.12 -13.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 8/9
✓FCF machine: 28.9% free cash flow margin
✓Strong 5Y sales CAGR of 17.7%
✓Good 3Y average ROE of 18.1%

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y28.88%

5Y17.72%

3Y15.35%

TTM7.36%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-40.04%

EPS CAGR

10Y-

5Y-

3Y-

TTM-38.2%

ROCE

10Y Avg-6.11%

5Y Avg-1.41%

3Y Avg-0.47%

Latest1.3%

Peer Comparison

Payment Processing

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BILLBill.com Holdings, Inc.	4.83B	48.25	209.78	13.36%	0.8%	0.31%	6.41%	0.45
BLBlackLine, Inc.	3.12B	52.43	36.16	10.74%	11.07%	20.75%	6.05%	1.90
NATLNCR Atleos Corporation	3.01B	40.72	33.11	3.01%	3.09%	39.88%	6.81%	11.54
OLBThe OLB Group, Inc.	6.41M	0.73	-0.12	-58%	-92.68%	-169.91%		0.12
LSPDLightspeed Commerce Inc.	1.6B	11.74	-2.71	18.43%	-58.98%	-45.18%		0.01
CCGWWCheche Group Inc. Warrant	9.09M	0.02		5.2%	-1.76%	-16.69%		0.10

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	83.61M	123.12M	177.03M	227.79M	288.98M	351.74M	425.71M	522.94M	590M	653.34M
Revenue Growth %	0.62%	0.47%	0.44%	0.29%	0.27%	0.22%	0.21%	0.23%	0.13%	0.11%
Cost of Goods Sold+	22.73M	30.21M	41.49M	50.87M	58.98M	68.97M	97.87M	129.38M	146.79M	161.97M
COGS % of Revenue	0.27%	0.25%	0.23%	0.22%	0.2%	0.2%	0.23%	0.25%	0.25%	0.25%
Gross Profit+	60.88M	92.91M	135.54M	176.91M	230M	282.76M	327.83M	393.55M	443.2M	491.37M
Gross Margin %	0.73%	0.75%	0.77%	0.78%	0.8%	0.8%	0.77%	0.75%	0.75%	0.75%
Gross Profit Growth %	0.74%	0.53%	0.46%	0.31%	0.3%	0.23%	0.16%	0.2%	0.13%	0.11%
Operating Expenses+	95.69M	126.85M	170.6M	206.75M	257.9M	302.66M	366.45M	449.75M	428.86M	472.83M
OpEx % of Revenue	1.14%	1.03%	0.96%	0.91%	0.89%	0.86%	0.86%	0.86%	0.73%	0.72%
Selling, General & Admin	77.47M	105.72M	146.73M	176M	214.89M	246.19M	289.13M	337.02M	314.68M	370.14M
SG&A % of Revenue	0.93%	0.86%	0.83%	0.77%	0.74%	0.7%	0.68%	0.64%	0.53%	0.57%
Research & Development	18.22M	21.13M	23.87M	30.75M	43.01M	56.46M	77.32M	108.89M	103.21M	100.97M
R&D % of Revenue	0.22%	0.17%	0.13%	0.14%	0.15%	0.16%	0.18%	0.21%	0.17%	0.15%
Other Operating Expenses	0	0	0	0	0	0	0	3.84M	10.96M	1.72M
Operating Income+	-34.81M	-33.93M	-35.06M	-29.84M	-27.9M	-19.89M	-38.61M	-56.2M	14.35M	18.54M
Operating Margin %	-0.42%	-0.28%	-0.2%	-0.13%	-0.1%	-0.06%	-0.09%	-0.11%	0.02%	0.03%
Operating Income Growth %	-0.91%	0.03%	-0.03%	0.15%	0.06%	0.29%	-0.94%	-0.46%	1.26%	0.29%
EBITDA+	-20.07M	-18.33M	-15.09M	-7.5M	-6.63M	1M	-11.49M	-13.38M	64.45M	68.88M
EBITDA Margin %	-0.24%	-0.15%	-0.09%	-0.03%	-0.02%	0%	-0.03%	-0.03%	0.11%	0.11%
EBITDA Growth %	-3.25%	0.09%	0.18%	0.5%	0.12%	1.15%	-12.47%	-0.17%	5.82%	0.07%
D&A (Non-Cash Add-back)	14.74M	15.61M	19.97M	22.34M	21.27M	20.89M	27.13M	42.82M	50.1M	50.34M
EBIT	-35.23M	-29.06M	-32.83M	-27.7M	-21.77M	-15.39M	-37.91M	-41.56M	66.41M	133.46M
Net Interest Income+	-3.21M	-5.93M	1.06M	2.13M	-2.52M	-18.81M	-62.24M	8.79M	46.16M	41.05M
Interest Income	0	4K	1.07M	2.14M	6.13M	4.5M	700K	14.64M	52.06M	49.81M
Interest Expense	3.21M	5.94M	13K	4K	8.65M	23.31M	62.95M	5.85M	5.9M	8.76M
Other Income/Expense	-3.63M	-22.56M	-2.43M	2.13M	-2.52M	-18.81M	-62.24M	8.79M	46.16M	106.16M
Pretax Income+	-38.45M	-45.75M	-37.49M	-27.7M	-30.42M	-38.7M	-100.86M	-47.41M	60.51M	124.7M
Pretax Margin %	-0.46%	-0.37%	-0.21%	-0.12%	-0.11%	-0.11%	-0.24%	-0.09%	0.1%	0.19%
Income Tax+	-13.71M	-6.59M	567K	162K	1.73M	702K	135K	-13.52M	1.45M	-43.07M
Effective Tax Rate %	0.64%	0.86%	1.02%	1%	1.07%	1.21%	1.14%	0.62%	0.87%	1.29%
Net Income+	-24.73M	-39.16M	-38.06M	-27.8M	-32.53M	-46.91M	-115.16M	-29.39M	52.83M	161.17M
Net Margin %	-0.3%	-0.32%	-0.21%	-0.12%	-0.11%	-0.13%	-0.27%	-0.06%	0.09%	0.25%
Net Income Growth %	-0.48%	-0.58%	0.03%	0.27%	-0.17%	-0.44%	-1.45%	0.74%	2.8%	2.05%
Net Income (Continuing)	-24.73M	-39.16M	-33.41M	-28.78M	-32.15M	-39.4M	-100.99M	-33.89M	59.06M	167.76M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	4.39M	4.91M	12.52M	28.7M	23.89M	30.06M	36.48M
EPS (Diluted)+	-0.50	-0.92	-0.73	-0.52	-0.58	-0.83	-1.97	-0.49	0.73	1.45
EPS Growth %	-0.47%	-0.84%	0.21%	0.29%	-0.12%	-0.43%	-1.37%	0.75%	2.49%	0.99%
EPS (Basic)	-0.50	-0.92	-0.73	-0.52	-0.58	-0.83	-1.97	-0.49	0.87	2.59
Diluted Shares Outstanding	49.33M	42.5M	52.16M	53.91M	55.32M	56.83M	58.35M	59.54M	72.05M	73.5M
Basic Shares Outstanding	49.33M	42.5M	52.16M	53.91M	55.32M	56.83M	58.35M	59.54M	60.85M	62.13M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	48.49M	163.82M	193.95M	221.52M	723.41M	674.12M	1.35B	1.25B	1.41B	1.09B
Cash & Short-Term Investments	15.21M	105.25M	112.58M	132.58M	607.75M	542.62M	1.2B	1.08B	1.2B	885.91M
Cash Only	15.21M	22.12M	31.1M	46.18M	120.23M	367.41M	539.74M	200.97M	271.12M	885.91M
Short-Term Investments	0	83.13M	81.48M	86.4M	487.51M	175.21M	658.96M	874.08M	933.36M	0
Accounts Receivable	24.23M	42.29M	61.92M	74.9M	102.83M	111.27M	125.13M	150.86M	171.61M	178.14M
Days Sales Outstanding	105.8	125.38	127.66	120.02	129.88	115.47	107.29	105.3	106.17	99.52
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	6.25M	9.67M	0	14.04M	0	0	0	23.66M	31.24M	28.35M
Total Non-Current Assets+	238.26M	256.61M	246.93M	272.35M	291.15M	439.39M	469.89M	694.09M	693.44M	732.63M
Property, Plant & Equipment	12.42M	11.32M	12.77M	13.54M	25.57M	21.95M	32.59M	34.52M	34.04M	34.61M
Fixed Asset Turnover	6.73x	10.88x	13.86x	16.83x	11.30x	16.03x	13.06x	15.15x	17.33x	18.88x
Goodwill	163.15M	185.14M	185.14M	185.14M	185.14M	289.71M	289.71M	443.86M	448.96M	448.96M
Intangible Assets	59.8M	58.71M	47.63M	36.81M	28.79M	64.74M	59.74M	122.93M	116.88M	104.97M
Long-Term Investments	0	400K	0	274K	0	0	0	0	0	0
Other Non-Current Assets	2.9M	1.45M	1.39M	36.87M	51.65M	63M	87.85M	92.78M	93.41M	90.88M
Total Assets+	286.75M	420.44M	440.88M	493.87M	1.01B	1.11B	1.82B	1.94B	2.1B	1.83B
Asset Turnover	0.29x	0.29x	0.40x	0.46x	0.28x	0.32x	0.23x	0.27x	0.28x	0.36x
Asset Growth %	0%	0.47%	0.05%	0.12%	1.05%	0.1%	0.63%	0.07%	0.08%	-0.13%
Total Current Liabilities+	74.42M	108.46M	137.04M	159.23M	207M	242.33M	322.58M	367.82M	642.57M	422.24M
Accounts Payable	4.65M	7.17M	7.25M	3.44M	7.4M	3.15M	7.47M	14.96M	8.62M	8.46M
Days Payables Outstanding	74.64	86.57	63.82	24.69	45.81	16.67	27.86	42.21	21.44	19.07
Short-Term Debt	558K	1.55M	0	0	0	0	0	0	249.23M	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	5.14M	8.36M	108.47M	5.11M	7.13M	16.69M	16.44M	8M	0	0
Current Ratio	0.65x	1.51x	1.42x	1.39x	3.49x	2.78x	4.18x	3.40x	2.19x	2.59x
Quick Ratio	0.65x	1.51x	1.42x	1.39x	3.49x	2.78x	4.18x	3.40x	2.19x	2.59x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	46.16M	20.56M	9.22M	8.68M	404.04M	436.58M	1.14B	1.44B	1.17B	919.64M
Long-Term Debt	28.27M	0	0	0	384.34M	407.03M	1.11B	1.38B	1.14B	892.67M
Capital Lease Obligations	558K	0	0	0	10.61M	7.36M	14.07M	10.08M	15.74M	20.34M
Deferred Tax Liabilities	5.91M	1.26M	1.33M	1.12M	4.57M	6.57M	8.18M	5.57M	6.39M	4.53M
Other Non-Current Liabilities	11.43M	16.93M	6.98M	7.29M	4.35M	15.55M	4.42M	39.78M	3.61M	708K
Total Liabilities	120.58M	129.03M	146.26M	167.91M	611.03M	678.91M	1.46B	1.81B	1.81B	1.34B
Total Debt+	29.38M	992K	442K	0	399.89M	418.54M	1.13B	1.4B	1.41B	916.6M
Net Debt	14.18M	-21.13M	-30.66M	-46.18M	279.65M	51.12M	593.88M	1.2B	1.14B	30.69M
Debt / Equity	0.18x	0.00x	0.00x	-	0.99x	0.96x	3.20x	10.32x	4.85x	1.90x
Debt / EBITDA	-	-	-	-	-	418.12x	-	-	21.89x	13.31x
Net Debt / EBITDA	-	-	-	-	-	51.07x	-	-	17.68x	0.45x
Interest Coverage	-10.83x	-5.72x	-2696.92x	-7459.00x	-3.23x	-0.85x	-0.61x	-9.61x	2.43x	2.12x
Total Equity+	166.17M	291.41M	294.63M	325.96M	403.52M	434.59M	353.74M	135.76M	290.94M	483.15M
Equity Growth %	-0.1%	0.75%	0.01%	0.11%	0.24%	0.08%	-0.19%	-0.62%	1.14%	0.66%
Book Value per Share	3.37	6.86	5.65	6.05	7.29	7.65	6.06	2.28	4.04	6.57
Total Shareholders' Equity	166.17M	291.41M	294.63M	321.57M	398.61M	422.07M	325.04M	111.87M	260.88M	446.67M
Common Stock	407K	513K	530K	547K	559K	577K	590K	600K	615K	628K
Retained Earnings	-48.16M	-87.33M	-125.47M	-130.59M	-163.6M	-201.65M	-301.74M	-272.97M	-214.8M	-48.99M
Treasury Stock	-254K	0	0	0	0	0	0	0	0	0
Accumulated OCI	-3.05M	-41K	-63K	45K	377K	376K	298K	-1.47M	205K	-361K
Minority Interest	0	0	0	4.39M	4.91M	12.52M	28.7M	23.89M	30.06M	36.48M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.01M	-4.81M	6.42M	16.14M	29.72M	54.73M	80.09M	56.01M	126.61M	190.84M
Operating CF Margin %	0.01%	-0.04%	0.04%	0.07%	0.1%	0.16%	0.19%	0.11%	0.21%	0.29%
Operating CF Growth %	-0.89%	-5.78%	2.34%	1.51%	0.84%	0.84%	0.46%	-0.3%	1.26%	0.51%
Net Income	-24.73M	-39.16M	-38.06M	-27.87M	-32.15M	-39.4M	-100.99M	-33.89M	52.83M	161.17M
Depreciation & Amortization	14.74M	17.42M	19.97M	22.34M	21.27M	20.89M	27.13M	42.82M	50.1M	50.34M
Stock-Based Compensation	5.5M	6.53M	16.04M	20.89M	34.05M	49.69M	65.87M	75.88M	77.97M	83.25M
Deferred Taxes	-13.94M	-7.43M	66K	-627K	1.31M	-381K	-817K	-14.4M	-1.52M	-54.8M
Other Non-Cash Items	3.06M	4.39M	4.72M	-142K	11.53M	27.32M	64.32M	-28.11M	-48.38M	-65.89M
Working Capital Changes	16.39M	13.44M	3.68M	1.54M	-6.3M	-3.39M	24.58M	13.72M	-4.38M	16.76M
Change in Receivables	-6.2M	-15.54M	-19.86M	-13.21M	-27.96M	-5.73M	-14.26M	-23.03M	-20.86M	-7.55M
Change in Inventory	7.68M	-621K	2.46M	-5.64M	-14.95M	0	0	0	0	0
Change in Payables	1.07M	3.54M	-25K	-4.01M	3.24M	-4.36M	4M	4.38M	-5.1M	-1.12M
Cash from Investing+	-12.37M	-119.67M	-7.03M	-15.98M	-408.45M	173.59M	-506.94M	-395.62M	-62.48M	924.44M
Capital Expenditures	-12.37M	-4.99M	-8.63M	-11.96M	-9.69M	-6.51M	-8.73M	-30.18M	-5.95M	-2.13M
CapEx % of Revenue	0.15%	0.04%	0.05%	0.05%	0.03%	0.02%	0.02%	0.06%	0.01%	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-2.27M	-3.27M	-4.62M	-5.67M	-5.06M	-12.91M	-14.54M	0	-21.64M	-6.27M
Cash from Financing+	859K	131.4M	9.59M	14.52M	452.51M	18.86M	599.24M	1.44M	6.15M	-500.14M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	1.42M	-1.51M	10.14M	18.32M	-30.71M	27.05M	-80.28M	11.6M	22.16M	-45.14M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-11.36M	-9.8M	-2.2M	4.18M	20.03M	35.31M	56.83M	25.83M	99.02M	188.71M
FCF Margin %	-0.14%	-0.08%	-0.01%	0.02%	0.07%	0.1%	0.13%	0.05%	0.17%	0.29%
FCF Growth %	-2.87%	0.14%	0.78%	2.9%	3.79%	0.76%	0.61%	-0.55%	2.83%	0.91%
FCF per Share	-0.23	-0.23	-0.04	0.08	0.36	0.62	0.97	0.43	1.37	2.57
FCF Conversion (FCF/Net Income)	-0.04x	0.12x	-0.17x	-0.58x	-0.91x	-1.17x	-0.70x	-1.91x	2.40x	1.18x
Interest Paid	634K	8.65M	8K	0	0	604K	506K	313K	313K	3.82M
Taxes Paid	6K	176K	868K	591K	1.01M	619K	890K	1.12M	3.1M	11.53M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-14.13%	-17.12%	-12.99%	-8.96%	-8.92%	-11.19%	-29.22%	-12.01%	24.76%	41.64%
Return on Invested Capital (ROIC)	-14.34%	-11.3%	-9.84%	-8.23%	-4.35%	-2.55%	-4.04%	-3.69%	0.78%	1.43%
Gross Margin	72.81%	75.46%	76.57%	77.67%	79.59%	80.39%	77.01%	75.26%	75.12%	75.21%
Net Margin	-29.58%	-31.8%	-21.5%	-12.21%	-11.26%	-13.34%	-27.05%	-5.62%	8.95%	24.67%
Debt / Equity	0.18x	0.00x	0.00x	-	0.99x	0.96x	3.20x	10.32x	4.85x	1.90x
Interest Coverage	-10.83x	-5.72x	-2696.92x	-7459.00x	-3.23x	-0.85x	-0.61x	-9.61x	2.43x	2.12x
FCF Conversion	-0.04x	0.12x	-0.17x	-0.58x	-0.91x	-1.17x	-0.70x	-1.91x	2.40x	1.18x
Revenue Growth	61.79%	47.26%	43.78%	28.67%	26.86%	21.72%	21.03%	22.84%	12.82%	10.74%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024
Subscription and Circulation	-	-	-	-	328.56M	398.63M	491.19M	555.52M	619.29M
Subscription and Circulation Growth	-	-	-	-	-	21.33%	23.22%	13.10%	11.48%
Technology Service	-	-	10.38M	16.53M	23.18M	27.07M	31.75M	34.48M	34.05M
Technology Service Growth	-	-	-	59.21%	40.23%	16.80%	17.28%	8.60%	-1.25%
Subscription And Circulation	-	-	217.41M	272.45M	-	-	-	-	-
Subscription And Circulation Growth	-	-	-	25.32%	-	-	-	-	-

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	102.9M	141.24M	180.15M	223.38M	264.02M	304.6M	373.42M	422.19M	457.95M
UNITED STATES Growth	-	37.27%	27.55%	23.99%	18.19%	15.37%	22.59%	13.06%	8.47%
Non-US	-	-	-	-	87.72M	121.1M	149.51M	167.8M	195.38M
Non-US Growth	-	-	-	-	-	38.05%	23.46%	12.23%	16.43%
Non Us	20.23M	35.79M	47.64M	65.6M	-	-	-	-	-
Non Us Growth	-	76.94%	33.10%	37.71%	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

BlackLine, Inc. (BL) has a price-to-earnings (P/E) ratio of 36.2x. This suggests investors expect higher future growth.

Growth & Financials

BlackLine, Inc. (BL) reported $686.7M in revenue for fiscal year 2024. This represents a 2048% increase from $32.0M in 2013.

BlackLine, Inc. (BL) grew revenue by 10.7% over the past year. This is steady growth.

Yes, BlackLine, Inc. (BL) is profitable, generating $76.0M in net income for fiscal year 2024 (24.7% net margin).

Dividend & Returns

BlackLine, Inc. (BL) has a return on equity (ROE) of 41.6%. This is excellent, indicating efficient use of shareholder capital.

BlackLine, Inc. (BL) generated $170.3M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.