QualityDipStocks / Technology · Software
BlackLine BL
Outside our quality screen, so we don’t track its dips. It’s 42% below its 52-week high.
Outside our quality screen, trading well below our fair value estimate, 12% over its Market Value.
Worth knowing
- Share count down 9% in 2 years
From the data on this page, as of the last close. How we pick these
- Fair value est.
- $61.18+79%
- Market Value
- $30.41price +12%
- Off 52-wk high
- −42%
- Risk vs market
- Lowbeta 0.55
4 bullish · 5 bearish See why
Repriced or dip?
Mixed signals
The price is 42% below its 52-week high (Dec 11), but the business held up: revenue +6.7%, operating margin +0.7 pts, revenue growth rate +1.3 pts.
Some numbers held up (revenue +6.7%, operating margin +0.7 pts, revenue growth rate +1.3 pts), others slipped (earnings per share −57.8%, shares outstanding more shares, each owns less). The price is 42% below its 52-week high.
The price is 42% below its 52-week high, and the business changed too: earnings per share −57.8%, shares outstanding more shares, each owns less.
Within 10% of its 52-week high, so there is no dip to judge yet.
The evidence 9 numbers, high vs now
- Revenue, last 12 months$687M → $732M (+6.7%)held up
- Revenue growth rate+7.4% → +8.6% a year (+1.3 pts)held up
- Earnings per share, 12 months$1.20 → $0.51 (−57.8%)changed
- Free cash flow, 12 months$178M → $177M (−1.1%)about the same
- Operating margin3.6% → 4.3% (+0.7 pts)held up
- Shares outstanding+8.5% (more shares, each owns less)changed
- Stock vs its sector (Technology)stock −42%, sector median +7% since Dec 11changed
- Price fall vs business numbersprice −42%, revenue/EPS/FCF median −1% (shown, not scored)
- Valuation multipleP/FCF 20.8× at the high → 13.2× now (shown, not scored)
Business numbers as reported at the high (12 months to Sep 30, 2025) vs the latest filing (12 months to Jun 30, 2026). Each measure is scored from −1 (business changed) to +1 (business intact) and weighted: revenue, earnings per share, free cash flow, operating margin, revenue growth rate, share count, net cash and the move vs its sector. 60 or more reads as a dip, 40 or less as a repricing. Analyst estimates are not in our data, so they are not used. How to read it
Data-based read, not advice.
Priced in
How much growth the market assumed at the 52-week high, the low and today (a reverse DCF).
At the high ($58.83, Dec 11) the price assumed about 8%/yr free-cash-flow growth; at the low ($25.23, May 13) about −4%; today about 0%. The last 3 years delivered 53%/yr (free cash flow).
Dashed line: what the last 3 years delivered, 53%/yr (free cash flow)
| High | Low | Now | |
|---|---|---|---|
| Price | $58.83Dec 11 | $25.23May 13 | $34.09 |
| Implied growth | +8% | −4% | 0% |
| P/E | 48.9× | 66.3× | 67.2× |
| P/FCF | 20.8× | 10.7× | 13.2× |
What this means: the higher the implied growth, the more the price already counts on. If today's number sits well below what the business has delivered, the market expects less than its track record.
How it’s computed
Reverse DCF: the same 10-year free-cash-flow model as our fair value estimate (9.5% discount rate, growth for years 1–5 fading to 3% by year 10, 3% after), solved for the growth that makes it equal the market value at each price. For the high and the low we use only the filings that were public on that day, so nothing from a later report leaks back. Market value = that close × diluted shares. P/E = market value / 12-month net income; Price / FCF = market value / 12-month free cash flow; EV / Sales = (market value + debt − cash) / 12-month revenue. Hidden when the share count moved over 20% (split, merger), free cash flow is negative, or the company reports in another currency.
Valuation
What we estimate it's worth, and how it ranks on value vs every stock we cover.
Fair value estimate
How the range is computed
Ten-year free-cash-flow DCF. Same 10-year free-cash-flow model as the base: discount rate 9.5% ±1 point and growth 10.2% ±2 points. Bear = 10.5% and 8.2%; bull = 8.5% and 12.2% (both fade to 3%). A model estimate from public filings, not a forecast of where the price will go.
Price is below even the bear case.
What the price implies To be worth today’s price, BL’s free cash flow would need to stay flat for five years; our estimate uses 10%.
Risk vs market
How risk vs market is measured
One year of daily returns (Oct 31 to Nov 2, 252 sessions). Beta = how much BL moved for each 1% move in the S&P 500 (SPY); 1.0 moves with the market. Volatility is the yearly standard deviation of daily returns. Past behavior, not a forecast.
Moves much less than the market, but its own price swings are 4.2× the S&P 500’s (it moves on its own news).
- Beta vs S&P 500
- 0.55
- Volatility
- 54% vs 13% SPY
- Correlation SPY
- 0.13
- Correlation QQQ
- 0.05
How it ranks
Where BL stands vs every one of the 1,996 stocks we cover that has the number. Longer bar = better.
Top quarter on 3 of 5 measures
- Discount to fair value estimate79% · price below our base caseTop 13%of 1,314
- Free cash flow yield7.6% · free cash flow vs market capTop 20%of 1,391
- Dividends + buybacks yield9.9% · cash paid out or used to retire shares, vs market capTop 7%of 1,836
- Revenue growth, last 12 months+8.6% · vs the 12 months beforeLowest 46%of 1,814
- Operating margin4.3% · of sales kept as operating profitLowest 24%of 1,288
From SEC filings and our fair value estimate model. A ranking, not advice.
Valuation details
DCF $61.18 · MV $30.41 · FCF value $59.66
Assumes 10.2% growth for 5 years (revenue grew 10.2% a year FY22–FY25), fading to 3%; 9.5% discount rate, 3% terminal growth. FCF base $2.58 a share (trailing 12 months to Jun 30, 2026), from the 10-Q filed Aug 5, 2026.
Fundamentals
The business itself: sales, profits, cash and debt, from SEC filings.
Bull vs bear
Rule-based from the data on this page, strongest first. Not advice.
Top bullish points 4 of 5
ValuationOur DCF fair value estimate is $61.18, 79% above the price.
ValuationFree-cash-flow yield of 7.6% (price / FCF 13.2×): $177M of free cash in the last 12 months.
GrowthSales grew 9% to $732M over the last 12 months vs the 12 months before (SEC filings).
ProfitabilityGross margin of 76%, above the 59% median for the 265 Technology companies we cover.
Top bearish points 5 of 5
GrowthDiluted EPS fell 73% to $0.39 in FY2025.
Cash returnsShare count up 7.1% in a year: existing holders are being diluted.
ProfitabilityReturn on equity fell 13 points in two fiscal years, to 7% in FY2025.
QualityDoesn’t pass our quality screen: ROE under 12% and ROIC under 10%.
ValuationTrades 12.1% above its Market Value of $30.41, the average price paid since the Aug 4 filing.
All fundamentals
P/E 67.2 · FCF yield 7.6% · ROE 10%
Valuation
- P/E
- 67.2×Technology median 33.0×
- Price / FCF
- 13.2×
- FCF yield
- 7.6%
- EV / EBITDA
- n/aD&A or debt not tagged in SEC data
- Price / sales
- 3.19×
- Price / book
- 7.39×
- Market cap
- $2.3Bprice × diluted shares
- Enterprise value
- n/anot reported in its SEC filings
Growth
- Revenue, 12 months
- $732M
- Sales growth, 12 months
- +8.6%vs the 12 months before
- Sales growth, 3 yrs
- +10.2%/yrfrom FY2022
- Diluted EPS, 12 months
- $0.56
- EPS growth, last FY
- −73.1%
- Net income, 12 months
- $35M
- Net income growth
- −60%12 months vs before
Profitability
- Gross margin
- 75.6%
- Operating margin
- 4.3%
- Net margin
- 4.7%
- FCF margin
- 24.1%
- Return on equity
- 10%
- Return on invested capital
- n/aoperating income, debt, equity or cash not tagged
Balance sheet
- Cash & short-term inv.
- $528M
- Total debt
- n/anot reported in its SEC filings
- Net cash
- n/acash or debt not tagged in SEC data
- Debt / equity
- n/adebt or equity not tagged in SEC data
- Interest coverage
- 3.2×operating income / interest
Cash flow & returns
- Free cash flow, 12 months
- $177M
- FCF growth, 12 months
- +3%
- Dividend yield
- 0%
- Payout ratio
- n/anot reported in its SEC filings
- Buybacks, 12 months
- $231M9.9% of market cap
- Share count, 1 year
- +7.1%diluted shares vs a year ago
- Stock-based comp
- $101M
Trailing 12 months to Jun 30, 2026; balance sheet at Jun 30, 2026. From BlackLine’s SEC filings. Sparklines show up to six fiscal years. n/a means we don’t hold that number, with the reason. How each is computed.
The business
FCF $0.1B · Sales +9%
- Free cash flow, 12 months$0.1B
- Free-cash-flow yield7.6%
- Free-cash-flow margin19%
- Gross margin76%
- Operating margin6%
- Return on invested capital8%
- Return on equity7%
- Sales growth (latest quarter vs year-ago quarter)+9%
- Net debt / EBITDA2.5×
Chart & levels
Where the price is vs its key levels and trends.
Key levels
Every level vs today’s $34.09
- 52-wk lowlowest close, 1 year$25.23−26.0%
- Market Valueavg paid since Aug 4$30.41−10.8%
- PriceMon Nov 2 close$34.09you are here
- 52-wk highhighest close, 1 year$58.83+72.6%
- Fair value est.base case$61.18+79.5%
Momentum & 52-week range
RSI 68 · 5 days −0.3%
Signals
Reversal signal setups, the public ledger and the next earnings date.
Setup & signals
No setup armed
No setup armed, so there’s no trigger or stop to track yet. Reversal signal rules only run on companies that pass our quality screen.
Next report
Nov 5
- DateThu Nov 5, after the close
- Consensus EPS$0.25
- Year-ago EPS$0.17
- QuarterSep/2026
From Nasdaq’s earnings calendar. A report resets Market Value.
BL is outside our quality screen
One text when a published rule fires on one of the 332 quality companies we track: the ticker, the price, the stop and a link to the numbers. Nothing else.
Voices & buzz
Who is talking about it, and how it compares with peers.
Who’s talking about it
Notable investors, executives, analysts and public figures on BlackLine in the last 48 hours. Headlines as published, each linked. Their words, not ours.
No notable mentions in the last 48 hours. Checked Nov 3, 1:01 PM ET.
Compare with peers
Closest in size in Software
Information only, not investment advice. Fair value estimates and talking points are rule-based model output from public data and can be wrong; stop levels are reference points, not orders. How every number is computed.