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Side-by-side financial comparison of BLACKLINE, INC. (BL) and Donnelley Financial Solutions, Inc. (DFIN). Click either name above to swap in a different company.
BLACKLINE, INC. is the larger business by last-quarter revenue ($183.2M vs $172.5M, roughly 1.1× Donnelley Financial Solutions, Inc.). Donnelley Financial Solutions, Inc. runs the higher net margin — 3.6% vs 2.7%, a 0.9% gap on every dollar of revenue. On growth, Donnelley Financial Solutions, Inc. posted the faster year-over-year revenue change (10.4% vs 8.1%). Donnelley Financial Solutions, Inc. produced more free cash flow last quarter ($47.9M vs $26.1M). Over the past eight quarters, BLACKLINE, INC.'s revenue compounded faster (7.9% CAGR vs -7.9%).
BlackLine Systems, Inc., is an American enterprise software company that develops cloud-based services designed to automate and manage the entire financial close process as well as consolidation, invoice-to-cash, and intercompany accounting. The Los Angeles–based company has 17 offices worldwide.
Donnelley Financial Solutions (DFIN) is a financial compliance company based in Chicago, Illinois, United States. The company provides software as a service (SaaS) products, software-enabled services (SeS), print, and compliance services related to US Securities and Exchange Commission regulations to companies in capital and investment markets.
BL vs DFIN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $183.2M | $172.5M |
| Net Profit | $4.9M | $6.2M |
| Gross Margin | 75.2% | — |
| Operating Margin | 3.7% | 8.3% |
| Net Margin | 2.7% | 3.6% |
| Revenue YoY | 8.1% | 10.4% |
| Net Profit YoY | -91.3% | -1.6% |
| EPS (diluted) | $0.07 | $0.31 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $183.2M | $172.5M | ||
| Q3 25 | $178.3M | $175.3M | ||
| Q2 25 | $172.0M | $218.1M | ||
| Q1 25 | $166.9M | $201.1M | ||
| Q4 24 | $169.5M | $156.3M | ||
| Q3 24 | $165.9M | $179.5M | ||
| Q2 24 | $160.5M | $242.7M | ||
| Q1 24 | $157.5M | $203.4M |
| Q4 25 | $4.9M | $6.2M | ||
| Q3 25 | $5.3M | $-40.9M | ||
| Q2 25 | $8.3M | $36.1M | ||
| Q1 25 | $6.1M | $31.0M | ||
| Q4 24 | $56.4M | $6.3M | ||
| Q3 24 | $17.2M | $8.7M | ||
| Q2 24 | $76.7M | $44.1M | ||
| Q1 24 | $10.8M | $33.3M |
| Q4 25 | 75.2% | — | ||
| Q3 25 | 75.1% | — | ||
| Q2 25 | 75.2% | — | ||
| Q1 25 | 75.5% | — | ||
| Q4 24 | 75.6% | — | ||
| Q3 24 | 75.2% | — | ||
| Q2 24 | 74.9% | — | ||
| Q1 24 | 75.2% | — |
| Q4 25 | 3.7% | 8.3% | ||
| Q3 25 | 4.3% | 16.1% | ||
| Q2 25 | 4.4% | 24.2% | ||
| Q1 25 | 2.1% | 22.8% | ||
| Q4 24 | 3.7% | 6.0% | ||
| Q3 24 | 5.0% | 10.1% | ||
| Q2 24 | 1.4% | 26.6% | ||
| Q1 24 | 1.1% | 21.9% |
| Q4 25 | 2.7% | 3.6% | ||
| Q3 25 | 3.0% | -23.3% | ||
| Q2 25 | 4.8% | 16.6% | ||
| Q1 25 | 3.6% | 15.4% | ||
| Q4 24 | 33.3% | 4.0% | ||
| Q3 24 | 10.4% | 4.8% | ||
| Q2 24 | 47.8% | 18.2% | ||
| Q1 24 | 6.9% | 16.4% |
| Q4 25 | $0.07 | $0.31 | ||
| Q3 25 | $0.09 | $-1.49 | ||
| Q2 25 | $0.13 | $1.28 | ||
| Q1 25 | $0.10 | $1.05 | ||
| Q4 24 | $0.79 | $0.21 | ||
| Q3 24 | $0.27 | $0.29 | ||
| Q2 24 | $0.22 | $1.47 | ||
| Q1 24 | $0.17 | $1.09 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $390.0M | $24.5M |
| Total DebtLower is stronger | — | $171.3M |
| Stockholders' EquityBook value | $332.3M | $379.2M |
| Total Assets | $1.8B | $800.4M |
| Debt / EquityLower = less leverage | — | 0.45× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $390.0M | $24.5M | ||
| Q3 25 | $419.9M | $22.7M | ||
| Q2 25 | $459.1M | $33.8M | ||
| Q1 25 | $479.5M | $16.2M | ||
| Q4 24 | $885.9M | $57.3M | ||
| Q3 24 | $725.3M | $33.6M | ||
| Q2 24 | $616.6M | $35.0M | ||
| Q1 24 | $331.4M | $43.7M |
| Q4 25 | — | $171.3M | ||
| Q3 25 | — | $154.7M | ||
| Q2 25 | — | $190.1M | ||
| Q1 25 | — | $189.5M | ||
| Q4 24 | — | $124.7M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $332.3M | $379.2M | ||
| Q3 25 | $328.3M | $423.1M | ||
| Q2 25 | $414.0M | $432.1M | ||
| Q1 25 | $417.9M | $419.9M | ||
| Q4 24 | $446.7M | $436.1M | ||
| Q3 24 | $367.9M | $444.5M | ||
| Q2 24 | $325.8M | $441.5M | ||
| Q1 24 | $279.8M | $408.9M |
| Q4 25 | $1.8B | $800.4M | ||
| Q3 25 | $1.7B | $816.3M | ||
| Q2 25 | $1.8B | $874.7M | ||
| Q1 25 | $1.8B | $852.8M | ||
| Q4 24 | $1.8B | $841.6M | ||
| Q3 24 | $1.7B | $843.6M | ||
| Q2 24 | $1.9B | $882.9M | ||
| Q1 24 | $2.1B | $867.8M |
| Q4 25 | — | 0.45× | ||
| Q3 25 | — | 0.37× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.45× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $26.7M | $59.8M |
| Free Cash FlowOCF − Capex | $26.1M | $47.9M |
| FCF MarginFCF / Revenue | 14.2% | 27.8% |
| Capex IntensityCapex / Revenue | 0.3% | 6.9% |
| Cash ConversionOCF / Net Profit | 5.46× | 9.65× |
| TTM Free Cash FlowTrailing 4 quarters | $161.5M | $107.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.7M | $59.8M | ||
| Q3 25 | $63.8M | $74.4M | ||
| Q2 25 | $32.3M | $68.4M | ||
| Q1 25 | $46.7M | $-37.7M | ||
| Q4 24 | $43.8M | $56.4M | ||
| Q3 24 | $55.9M | $86.4M | ||
| Q2 24 | $40.7M | $56.2M | ||
| Q1 24 | $50.4M | $-27.9M |
| Q4 25 | $26.1M | $47.9M | ||
| Q3 25 | $63.3M | $59.2M | ||
| Q2 25 | $31.4M | $51.7M | ||
| Q1 25 | $40.8M | $-51.0M | ||
| Q4 24 | $43.0M | $41.3M | ||
| Q3 24 | $55.5M | $67.3M | ||
| Q2 24 | $40.0M | $36.8M | ||
| Q1 24 | $50.1M | $-40.2M |
| Q4 25 | 14.2% | 27.8% | ||
| Q3 25 | 35.5% | 33.8% | ||
| Q2 25 | 18.2% | 23.7% | ||
| Q1 25 | 24.4% | -25.4% | ||
| Q4 24 | 25.4% | 26.4% | ||
| Q3 24 | 33.5% | 37.5% | ||
| Q2 24 | 24.9% | 15.2% | ||
| Q1 24 | 31.8% | -19.8% |
| Q4 25 | 0.3% | 6.9% | ||
| Q3 25 | 0.3% | 8.7% | ||
| Q2 25 | 0.6% | 7.7% | ||
| Q1 25 | 3.6% | 6.6% | ||
| Q4 24 | 0.4% | 9.7% | ||
| Q3 24 | 0.2% | 10.6% | ||
| Q2 24 | 0.4% | 8.0% | ||
| Q1 24 | 0.2% | 6.0% |
| Q4 25 | 5.46× | 9.65× | ||
| Q3 25 | 12.07× | — | ||
| Q2 25 | 3.90× | 1.89× | ||
| Q1 25 | 7.72× | -1.22× | ||
| Q4 24 | 0.78× | 8.95× | ||
| Q3 24 | 3.24× | 9.93× | ||
| Q2 24 | 0.53× | 1.27× | ||
| Q1 24 | 4.66× | -0.84× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BL
| Subscription And Circulation | $173.2M | 95% |
| Technology Service | $10.0M | 5% |
DFIN
| Technology Service | $68.0M | 39% |
| Capital Markets Compliance And Communications Management | $61.6M | 36% |
| Investment Companies Software Solutions | $30.9M | 18% |
| Print And Distribution Service | $13.6M | 8% |
