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Side-by-side financial comparison of BLACKLINE, INC. (BL) and ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT). Click either name above to swap in a different company.
BLACKLINE, INC. is the larger business by last-quarter revenue ($183.2M vs $158.8M, roughly 1.2× ESSENTIAL PROPERTIES REALTY TRUST, INC.). ESSENTIAL PROPERTIES REALTY TRUST, INC. runs the higher net margin — 37.8% vs 2.7%, a 35.1% gap on every dollar of revenue. On growth, ESSENTIAL PROPERTIES REALTY TRUST, INC. posted the faster year-over-year revenue change (22.8% vs 8.1%). Over the past eight quarters, ESSENTIAL PROPERTIES REALTY TRUST, INC.'s revenue compounded faster (20.6% 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.
Essential Properties Realty Trust is a publicly traded real estate investment trust (REIT) that acquires, owns and manages a diversified portfolio of single-tenant net-leased commercial properties across the United States. Its assets primarily cover essential service-oriented sectors including casual dining, automotive services, medical clinics, early childhood education centers and light industrial facilities, with tenants mostly holding robust long-term operating track records.
BL vs EPRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $183.2M | $158.8M |
| Net Profit | $4.9M | $60.0M |
| Gross Margin | 75.2% | — |
| Operating Margin | 3.7% | 56.5% |
| Net Margin | 2.7% | 37.8% |
| Revenue YoY | 8.1% | 22.8% |
| Net Profit YoY | -91.3% | 6.5% |
| EPS (diluted) | $0.07 | $0.28 |
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.
| Q1 26 | — | $158.8M | ||
| Q4 25 | $183.2M | $149.9M | ||
| Q3 25 | $178.3M | $144.9M | ||
| Q2 25 | $172.0M | $137.1M | ||
| Q1 25 | $166.9M | $129.4M | ||
| Q4 24 | $169.5M | $119.7M | ||
| Q3 24 | $165.9M | $117.1M | ||
| Q2 24 | $160.5M | $109.3M |
| Q1 26 | — | $60.0M | ||
| Q4 25 | $4.9M | $68.1M | ||
| Q3 25 | $5.3M | $65.6M | ||
| Q2 25 | $8.3M | $63.2M | ||
| Q1 25 | $6.1M | $56.1M | ||
| Q4 24 | $56.4M | $55.4M | ||
| Q3 24 | $17.2M | $49.1M | ||
| Q2 24 | $76.7M | $51.5M |
| Q1 26 | — | — | ||
| 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 26 | — | 56.5% | ||
| Q4 25 | 3.7% | 65.9% | ||
| Q3 25 | 4.3% | 64.7% | ||
| Q2 25 | 4.4% | 64.1% | ||
| Q1 25 | 2.1% | 61.6% | ||
| Q4 24 | 3.7% | 66.1% | ||
| Q3 24 | 5.0% | 59.7% | ||
| Q2 24 | 1.4% | 61.1% |
| Q1 26 | — | 37.8% | ||
| Q4 25 | 2.7% | 45.4% | ||
| Q3 25 | 3.0% | 45.3% | ||
| Q2 25 | 4.8% | 46.1% | ||
| Q1 25 | 3.6% | 43.4% | ||
| Q4 24 | 33.3% | 46.3% | ||
| Q3 24 | 10.4% | 42.0% | ||
| Q2 24 | 47.8% | 47.1% |
| Q1 26 | — | $0.28 | ||
| Q4 25 | $0.07 | $0.34 | ||
| Q3 25 | $0.09 | $0.33 | ||
| Q2 25 | $0.13 | $0.32 | ||
| Q1 25 | $0.10 | $0.29 | ||
| Q4 24 | $0.79 | $0.31 | ||
| Q3 24 | $0.27 | $0.27 | ||
| Q2 24 | $0.22 | $0.29 |
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 | $15.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $332.3M | $4.4B |
| Total Assets | $1.8B | $7.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $15.2M | ||
| Q4 25 | $390.0M | $60.2M | ||
| Q3 25 | $419.9M | $23.8M | ||
| Q2 25 | $459.1M | $20.8M | ||
| Q1 25 | $479.5M | $47.0M | ||
| Q4 24 | $885.9M | $40.7M | ||
| Q3 24 | $725.3M | $32.7M | ||
| Q2 24 | $616.6M | $23.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.5B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $1.9B |
| Q1 26 | — | $4.4B | ||
| Q4 25 | $332.3M | $4.2B | ||
| Q3 25 | $328.3M | $3.8B | ||
| Q2 25 | $414.0M | $3.8B | ||
| Q1 25 | $417.9M | $3.8B | ||
| Q4 24 | $446.7M | $3.6B | ||
| Q3 24 | $367.9M | $3.2B | ||
| Q2 24 | $325.8M | $3.2B |
| Q1 26 | — | $7.2B | ||
| Q4 25 | $1.8B | $6.9B | ||
| Q3 25 | $1.7B | $6.6B | ||
| Q2 25 | $1.8B | $6.3B | ||
| Q1 25 | $1.8B | $6.1B | ||
| Q4 24 | $1.8B | $5.8B | ||
| Q3 24 | $1.7B | $5.5B | ||
| Q2 24 | $1.9B | $5.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.60× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.61× | ||
| Q1 25 | — | 0.56× | ||
| Q4 24 | — | 0.60× | ||
| Q3 24 | — | 0.69× | ||
| Q2 24 | — | 0.59× |
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 | — |
| Free Cash FlowOCF − Capex | $26.1M | — |
| FCF MarginFCF / Revenue | 14.2% | — |
| Capex IntensityCapex / Revenue | 0.3% | — |
| Cash ConversionOCF / Net Profit | 5.46× | — |
| TTM Free Cash FlowTrailing 4 quarters | $161.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $26.7M | $381.1M | ||
| Q3 25 | $63.8M | $99.0M | ||
| Q2 25 | $32.3M | $99.8M | ||
| Q1 25 | $46.7M | $77.2M | ||
| Q4 24 | $43.8M | $308.5M | ||
| Q3 24 | $55.9M | $73.5M | ||
| Q2 24 | $40.7M | $81.1M |
| Q1 26 | — | — | ||
| Q4 25 | $26.1M | — | ||
| Q3 25 | $63.3M | — | ||
| Q2 25 | $31.4M | — | ||
| Q1 25 | $40.8M | — | ||
| Q4 24 | $43.0M | — | ||
| Q3 24 | $55.5M | — | ||
| Q2 24 | $40.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | 14.2% | — | ||
| Q3 25 | 35.5% | — | ||
| Q2 25 | 18.2% | — | ||
| Q1 25 | 24.4% | — | ||
| Q4 24 | 25.4% | — | ||
| Q3 24 | 33.5% | — | ||
| Q2 24 | 24.9% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.3% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.6% | — | ||
| Q1 25 | 3.6% | — | ||
| Q4 24 | 0.4% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 0.4% | — |
| Q1 26 | — | — | ||
| Q4 25 | 5.46× | 5.60× | ||
| Q3 25 | 12.07× | 1.51× | ||
| Q2 25 | 3.90× | 1.58× | ||
| Q1 25 | 7.72× | 1.38× | ||
| Q4 24 | 0.78× | 5.57× | ||
| Q3 24 | 3.24× | 1.50× | ||
| Q2 24 | 0.53× | 1.57× |
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% |
EPRT
| Rental revenue 1,2 | $149.4M | 94% |
| Other | $8.6M | 5% |
| Other revenue | $779.0K | 0% |
