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Side-by-side financial comparison of BLACKLINE, INC. (BL) and Federal Realty Investment Trust (FRT). Click either name above to swap in a different company.
Federal Realty Investment Trust is the larger business by last-quarter revenue ($336.0M vs $183.2M, roughly 1.8× BLACKLINE, INC.). Federal Realty Investment Trust runs the higher net margin — 38.6% vs 2.7%, a 35.9% gap on every dollar of revenue. On growth, Federal Realty Investment Trust posted the faster year-over-year revenue change (8.7% vs 8.1%). Over the past eight quarters, BLACKLINE, INC.'s revenue compounded faster (7.9% CAGR vs 6.5%).
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.
Federal Realty Investment Trust is a real estate investment trust that invests in shopping centers in the Northeastern United States, the Mid-Atlantic states, California, and South Florida.
BL vs FRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $183.2M | $336.0M |
| Net Profit | $4.9M | $129.7M |
| Gross Margin | 75.2% | — |
| Operating Margin | 3.7% | 53.8% |
| Net Margin | 2.7% | 38.6% |
| Revenue YoY | 8.1% | 8.7% |
| Net Profit YoY | -91.3% | 103.5% |
| EPS (diluted) | $0.07 | $1.49 |
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 | — | $336.0M | ||
| Q4 25 | $183.2M | $336.0M | ||
| Q3 25 | $178.3M | $322.3M | ||
| Q2 25 | $172.0M | $311.5M | ||
| Q1 25 | $166.9M | $309.2M | ||
| Q4 24 | $169.5M | $311.4M | ||
| Q3 24 | $165.9M | $303.6M | ||
| Q2 24 | $160.5M | $296.1M |
| Q1 26 | — | $129.7M | ||
| Q4 25 | $4.9M | $129.7M | ||
| Q3 25 | $5.3M | $61.6M | ||
| Q2 25 | $8.3M | $155.9M | ||
| Q1 25 | $6.1M | $63.8M | ||
| Q4 24 | $56.4M | $65.5M | ||
| Q3 24 | $17.2M | $61.0M | ||
| Q2 24 | $76.7M | $112.0M |
| 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 | — | 53.8% | ||
| Q4 25 | 3.7% | 53.8% | ||
| Q3 25 | 4.3% | 34.3% | ||
| Q2 25 | 4.4% | 65.1% | ||
| Q1 25 | 2.1% | 35.0% | ||
| Q4 24 | 3.7% | 35.1% | ||
| Q3 24 | 5.0% | 34.9% | ||
| Q2 24 | 1.4% | 53.0% |
| Q1 26 | — | 38.6% | ||
| Q4 25 | 2.7% | 38.6% | ||
| Q3 25 | 3.0% | 19.1% | ||
| Q2 25 | 4.8% | 50.0% | ||
| Q1 25 | 3.6% | 20.6% | ||
| Q4 24 | 33.3% | 21.0% | ||
| Q3 24 | 10.4% | 20.1% | ||
| Q2 24 | 47.8% | 37.8% |
| Q1 26 | — | $1.49 | ||
| Q4 25 | $0.07 | $1.49 | ||
| Q3 25 | $0.09 | $0.69 | ||
| Q2 25 | $0.13 | $1.78 | ||
| Q1 25 | $0.10 | $0.72 | ||
| Q4 24 | $0.79 | $0.74 | ||
| Q3 24 | $0.27 | $0.70 | ||
| Q2 24 | $0.22 | $1.32 |
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 | $107.4M |
| Total DebtLower is stronger | — | $5.0B |
| Stockholders' EquityBook value | $332.3M | $3.2B |
| Total Assets | $1.8B | $9.1B |
| Debt / EquityLower = less leverage | — | 1.53× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $107.4M | ||
| Q4 25 | $390.0M | $107.4M | ||
| Q3 25 | $419.9M | $111.3M | ||
| Q2 25 | $459.1M | $177.0M | ||
| Q1 25 | $479.5M | $109.2M | ||
| Q4 24 | $885.9M | $123.4M | ||
| Q3 24 | $725.3M | $97.0M | ||
| Q2 24 | $616.6M | $103.2M |
| Q1 26 | — | $5.0B | ||
| Q4 25 | — | $5.0B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $4.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $3.2B | ||
| Q4 25 | $332.3M | $3.2B | ||
| Q3 25 | $328.3M | $3.2B | ||
| Q2 25 | $414.0M | $3.2B | ||
| Q1 25 | $417.9M | $3.2B | ||
| Q4 24 | $446.7M | $3.2B | ||
| Q3 24 | $367.9M | $3.1B | ||
| Q2 24 | $325.8M | $3.0B |
| Q1 26 | — | $9.1B | ||
| Q4 25 | $1.8B | $9.1B | ||
| Q3 25 | $1.7B | $8.9B | ||
| Q2 25 | $1.8B | $8.6B | ||
| Q1 25 | $1.8B | $8.6B | ||
| Q4 24 | $1.8B | $8.5B | ||
| Q3 24 | $1.7B | $8.5B | ||
| Q2 24 | $1.9B | $8.4B |
| Q1 26 | — | 1.53× | ||
| Q4 25 | — | 1.53× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.42× | ||
| Q3 24 | — | — | ||
| Q2 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 | — |
| 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 | $622.4M | ||
| Q3 25 | $63.8M | $147.8M | ||
| Q2 25 | $32.3M | $150.7M | ||
| Q1 25 | $46.7M | $179.0M | ||
| Q4 24 | $43.8M | $574.6M | ||
| Q3 24 | $55.9M | $144.1M | ||
| Q2 24 | $40.7M | $169.7M |
| 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× | 4.80× | ||
| Q3 25 | 12.07× | 2.40× | ||
| Q2 25 | 3.90× | 0.97× | ||
| Q1 25 | 7.72× | 2.81× | ||
| Q4 24 | 0.78× | 8.77× | ||
| Q3 24 | 3.24× | 2.36× | ||
| Q2 24 | 0.53× | 1.52× |
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% |
FRT
Segment breakdown not available.
