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Sells cloud software that nonprofits, schools and faith organizations use for fundraising, donor management and finance.
Sells cloud software that nonprofits, schools and faith organizations use for fundraising, donor management and finance.
Most revenue is recurring: nonprofits pay annual subscriptions for fundraising and finance software, and Blackbaud also takes a fee on the online donations that flow through its payment services, so revenue grows with the giving it processes. Its software is built mainly for US charities and schools.
Moat: narrow (switching costs, installed base, brand). Deep embedding in nonprofit fundraising/donor databases makes switching disruptive and costly.
Headquarters: Charleston, South Carolina, United States · Founded: 1981 · Employees: 2,800
Size Blackbaud (BLKB) is a United States Information Technology company (Packaged Software) with a market value of $2.43B, the 1674th largest of 3,117 United States companies the cockpit tracks. Shares closed at $54.12 on 6 Nov 2026.
Performance Over six months the shares gained 44.3%, against +7.0% for the median peer and -1.1% for the United States market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 2.2% over the last twelve months (peer median +15.9%); the operating margin is 21.0% (peer median 7.8%).
Valuation It trades at 9.4× forward earnings against a peer median of 19.3× (cheapest of 17).
Price implies For today's price to make sense, revenue must grow about -2% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -6 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 18.9 points above its cost of capital (8.6% WACC).
Short interest Short interest is 7.5% of the free float (15 Oct 2026).
Next results Next results expected around 15 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.16B | $1.13B | $1.15B | $1.11B | $1.06B |
| Revenue growth | — | -2% | +4% | +4% | — |
| Gross profit | $692M | $660M | $627M | $600M | $550M |
| EBITDA | $310M | $307M | $275M | $156M | $75.2M |
| Net income | $149M | $115M | -$300M | $1.82M | -$45.4M |
| Free cash flow | $332M | $258M | $289M | $195M | $192M |
| Capital expenditure | $62.9M | $62.0M | $67.2M | $64.1M | $71.1M |
| Total debt | $1.04B | $1.12B | $1.11B | $826M | $912M |
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 |
|---|---|---|---|---|---|---|
| Blackbaud BLKB | $2.43B | +44% | +2% | 21% | 9.4× | -1.6% |
| Salesforce CRM | $176B | +18% | +11% | 22% | 14.6× | 13.7% |
| Sage SGE.L | $14.1B | +33% | +9% | 23% | 23.1× | 3.1% |
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 | BLKB | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +20.7% | +2.5% | 3rd highest of 21 |
| 6-month return | +44.3% | +7.0% | 5th highest of 21 |
| Distance from 52-week high | -16.5% | -25.4% | 6th highest of 21 |
| Revenue growth (TTM) | +2.2% | +15.9% | 3rd lowest of 21 |
| Operating margin | 21.0% | 7.8% | 6th highest of 21 |
| Forward P/E | 9.4× | 19.3× | cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | -1.6% | 10.2% | 2nd least demanding of 13 |
| Growth delivered (Del g) | +4.3% | +23.8% | 3rd lowest of 12 |
| Hurdle (Req g minus delivered) | -5.9 pp | -6.3 pp | 6th most demanding of 12 |
| ROIC minus cost of capital | +18.9 pp | -1.0 pp | 4th highest of 19 |
| EV / EBITDA | 9.7× | 14.7× | 4th cheapest of 11 |
| Net debt / EBITDA | 1.9× | -0.9× | 3rd most indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Blackbaud BLKB | United States | $2.43B | +44% | +2% | 21% | 9.4× | -1.6% | +4.3% |
| Asana ASAN | United States | $2.43B | +60% | +9% | -15% | 27.4× | 10.7% | +28.4% |
| Guangdong Aofei Data Technology 300738.SZ | China | $2.44B | -34% | +24% | 23% | 42.6× | n/a | n/a |
| ePlus PLUS | United States | $2.40B | +2% | +15% | 7% | 16.1× | 4.3% | +9.5% |
| nCino NCNO | United States | $2.40B | +28% | +9% | 9% | 15.8× | 23.9% | +23.8% |
| RAKUS 3923.T | Japan | $2.38B | +24% | +17% | 31% | 14.1× | 15.8% | +31.4% |
| Meitu 1357.HK | Hong Kong | $2.50B | -9% | +24% | 24% | 12.8× | 7.5% | +25.5% |
| Affle 3i AFFLE.NS | India | $2.36B | +6% | +20% | 18% | 40.0× | 33.0% | +39.3% |
| Money Forward 3994.T | Japan | $2.52B | +51% | +35% | 2% | 2,235.1× | n/a | n/a |
| Shanghai Suochen Information Technology 688507.SS | China | $2.31B | +97% | +32% | -2% | 196.7× | n/a | n/a |
| Urban URBANCO.NS | India | $2.58B | +8% | +36% | -26% | n/a | n/a | n/a |
| NetScout Systems NTCT | United States | $2.29B | -19% | +6% | 15% | 11.6× | -0.1% | +0.7% |
| Shijiazhuang Changshan Beiming Technology 000158.SZ | China | $2.64B | -35% | -14% | 2% | n/a | n/a | n/a |
| Schrodinger SDGR | United States | $2.23B | +125% | +9% | -59% | n/a | n/a | n/a |
| JWIPC Technology 001339.SZ | China | $2.72B | -19% | +41% | 21% | 21.9× | n/a | n/a |
| SeeWay.ai 002405.SZ | China | $2.18B | -32% | +22% | -29% | n/a | n/a | n/a |
| Ethos Technologies LIFE | United States | $2.18B | +13% | +112% | -16% | 33.9× | 24.1% | n/a |
| XD, Inc. 2400.HK | Hong Kong | $2.77B | -28% | +6% | 26% | 11.9× | 3.0% | +14.3% |
| Vertex VERX | United States | $2.77B | +14% | +11% | 1% | 17.4× | 57.9% | +14.8% |
| DoubleVerify DV | United States | $2.12B | +23% | +7% | 14% | 21.3× | 9.7% | +25.1% |
| Pitney Bowes PBI | United States | $2.11B | -1% | -4% | 25% | 9.6× | -5.4% | -11.8% |