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Sells cloud software that automates financial close, account reconciliation and other accounting processes for finance teams.
Sells cloud software that automates financial close, account reconciliation and other accounting processes for finance teams.
Sells annual subscriptions priced by the modules a finance team uses and the volume of accounts and transactions handled, so revenue grows when customers add modules or transaction volumes. Many large customers come through SAP, which resells the product, as well as through BlackLine's own sales team.
Moat: narrow (switching costs, installed base). Deeply embedded in month-end financial close workflows, making switching disruptive for finance teams.
Headquarters: Woodland Hills, California, United States · Founded: 2001 · Employees: 1,850
Size BlackLine (BL) is a United States Information Technology company (Packaged Software) with a market value of $1.50B, the 1989th largest of 3,117 United States companies the cockpit tracks. Shares closed at $25.89 on 6 Nov 2026.
Performance Over six months the shares fell 15.5%, against -16.1% for the median peer and -1.1% for the United States market (cap-weighted) — 10th highest of 20 in its peer set.
Growth Revenue grew 8.6% over the last twelve months (peer median +11.8%); the operating margin is 6.7% (peer median 10.4%).
Valuation It trades at 10.0× forward earnings against a peer median of 21.3× (3rd cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 12% a year for seven years (Req g). Recent delivered growth is +15%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.1 points above its cost of capital (7.3% WACC).
Backlog Backlog (remaining performance obligations) was $1.10B at 30 Sep 2026, up 14% on a year earlier — 1.5 years of trailing revenue. Backlog detail →
Credit BlackLine has 1 bond outstanding ($675M).
Short interest Short interest is 8.5% of the free float (15 Oct 2026).
Next results Next results expected around 16 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $732M | $700M | $653M | $590M | $523M |
| Revenue growth | — | +7% | +11% | +13% | — |
| Gross profit | $553M | $526M | $485M | $435M | $385M |
| EBITDA | $97.3M | $92.3M | $70.6M | $109M | -$46.6M |
| Net income | $34.8M | $24.5M | $161M | $52.8M | -$29.4M |
| Free cash flow | $177M | $161M | $189M | $121M | $45.0M |
| Capital expenditure | $32.6M | $34.7M | $26.8M | $27.6M | $30.2M |
| Total debt | $691M | $920M | $917M | $1.41B | $1.40B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| BlackLine BL | $1.50B | -15% | +9% | 7% | 10.0× | 12.1% |
| Workiva WK | $3.96B | +42% | +20% | 3% | 23.0× | 33.1% |
| Sap SAP.DE | $276B | +49% | +8% | 29% | 29.8× | 14.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.5% | +2.7% | 4th lowest of 21 |
| 6-month return | -15.5% | -16.1% | 10th highest of 20 |
| Distance from 52-week high | -56.5% | -42.1% | 5th lowest of 21 |
| Revenue growth (TTM) | +8.6% | +11.8% | 8th lowest of 21 |
| Operating margin | 6.7% | 10.4% | 9th lowest of 21 |
| Forward P/E | 10.0× | 21.3× | 3rd cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 12.1% | 14.8% | 7th least demanding of 16 |
| Growth delivered (Del g) | +14.8% | +13.1% | 8th highest of 16 |
| Hurdle (Req g minus delivered) | -2.7 pp | -0.2 pp | 8th least demanding of 16 |
| ROIC minus cost of capital | +0.1 pp | +1.1 pp | 9th lowest of 19 |
| EV / EBITDA | 17.4× | 11.8× | 3rd most expensive of 11 |
| Net debt / EBITDA | 1.7× | -1.7× | 4th most indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| BlackLine BL | United States | $1.50B | -15% | +9% | 7% | 10.0× | 12.1% | +14.8% |
| Wuxi Boton Technology 300031.SZ | China | $1.50B | +8% | +22% | 2% | 32.5× | 30.2% | +5.6% |
| YGsoft 002063.SZ | China | $1.51B | -16% | +5% | 13% | 31.0× | 16.3% | +8.9% |
| Fractal Analytics FRACTAL.NS | India | $1.49B | -27% | +19% | 12% | 41.5× | 31.4% | +18.5% |
| Phancy 6682.HK | Hong Kong | $1.48B | -45% | +42% | -5% | 88.0× | n/a | n/a |
| Yusys Technologies 300674.SZ | China | $1.53B | -23% | -11% | 8% | 20.8× | 15.6% | +4.0% |
| Digiwin 300378.SZ | China | $1.54B | -2% | +10% | 9% | 32.5× | n/a | n/a |
| CloudWalk Technology 688327.SS | China | $1.54B | -28% | -47% | -165% | n/a | n/a | n/a |
| Paradox Interactive PDX.ST | Sweden | $1.54B | +6% | +13% | 6% | 25.3× | 20.8% | +4.1% |
| Pagaya Technologies PGY | United States | $1.47B | +15% | +11% | 22% | 7.8× | 4.1% | +68.9% |
| Exzeo XZO | United States | $1.47B | +21% | +329% | 49% | 14.8× | -8.4% | +59.0% |
| PearlAbyss 263750.KS | South Korea | $1.47B | -44% | +114% | 40% | 7.1× | n/a | n/a |
| Sprinklr CXM | United States | $1.55B | +25% | +6% | 6% | 13.0× | 4.8% | +17.2% |
| Systex 6214.TW | Taiwan | $1.46B | +54% | +34% | 3% | 16.6× | -12.4% | +13.1% |
| GO Inc. 581A.T | Japan | $1.45B | n/a | +32% | 17% | 21.9× | 34.7% | +31.9% |
| NextNav NN | United States | $1.45B | -56% | -36% | -1,900% | n/a | n/a | n/a |
| EverCommerce EVCM | United States | $1.45B | -31% | -7% | 13% | 11.7× | 11.6% | +11.8% |
| MIXI 2121.T | Japan | $1.56B | +51% | +30% | 14% | 10.7× | -18.1% | +7.5% |
| KPIT Technologies KPITTECH.NS | India | $1.57B | -25% | +9% | 14% | 26.3× | 14.8% | +26.0% |
| Alkami Technology ALKT | United States | $1.44B | -25% | +24% | -5% | 13.1× | 12.6% | +31.7% |
| Weaver Network Technology 603039.SS | China | $1.59B | -8% | +2% | 12% | 29.1× | 15.8% | +9.0% |
BlackLine has 1 bond outstanding with $675M face value.
BlackLine reported $1.10B of remaining performance obligations at 30 Sep 2026, up 14% from a year earlier and flat from the previous quarter. That is 1.5 years of trailing revenue already under contract. Book-to-bill last quarter: 1.00.