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Side-by-side financial comparison of BLACKLINE, INC. (BL) and Limbach Holdings, Inc. (LMB). Click either name above to swap in a different company.
Limbach Holdings, Inc. is the larger business by last-quarter revenue ($186.9M vs $183.2M, roughly 1.0× BLACKLINE, INC.). Limbach Holdings, Inc. runs the higher net margin — 6.6% vs 2.7%, a 3.9% gap on every dollar of revenue. On growth, Limbach Holdings, Inc. posted the faster year-over-year revenue change (30.1% vs 8.1%). Limbach Holdings, Inc. produced more free cash flow last quarter ($27.9M vs $26.1M). Over the past eight quarters, Limbach Holdings, Inc.'s revenue compounded faster (25.3% 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.
Limbach Flugmotoren is a Chinese-owned company based in Germany that produces aircraft engines.
BL vs LMB — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $183.2M | $186.9M |
| Net Profit | $4.9M | $12.3M |
| Gross Margin | 75.2% | 25.7% |
| Operating Margin | 3.7% | 9.4% |
| Net Margin | 2.7% | 6.6% |
| Revenue YoY | 8.1% | 30.1% |
| Net Profit YoY | -91.3% | 25.0% |
| EPS (diluted) | $0.07 | $1.01 |
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 | $186.9M | ||
| Q3 25 | $178.3M | $184.6M | ||
| Q2 25 | $172.0M | $142.2M | ||
| Q1 25 | $166.9M | $133.1M | ||
| Q4 24 | $169.5M | $143.7M | ||
| Q3 24 | $165.9M | $133.9M | ||
| Q2 24 | $160.5M | $122.2M | ||
| Q1 24 | $157.5M | $119.0M |
| Q4 25 | $4.9M | $12.3M | ||
| Q3 25 | $5.3M | $8.8M | ||
| Q2 25 | $8.3M | $7.8M | ||
| Q1 25 | $6.1M | $10.2M | ||
| Q4 24 | $56.4M | $9.8M | ||
| Q3 24 | $17.2M | $7.5M | ||
| Q2 24 | $76.7M | $6.0M | ||
| Q1 24 | $10.8M | $7.6M |
| Q4 25 | 75.2% | 25.7% | ||
| Q3 25 | 75.1% | 24.2% | ||
| Q2 25 | 75.2% | 28.0% | ||
| Q1 25 | 75.5% | 27.6% | ||
| Q4 24 | 75.6% | 30.3% | ||
| Q3 24 | 75.2% | 27.0% | ||
| Q2 24 | 74.9% | 27.4% | ||
| Q1 24 | 75.2% | 26.1% |
| Q4 25 | 3.7% | 9.4% | ||
| Q3 25 | 4.3% | 7.2% | ||
| Q2 25 | 4.4% | 7.5% | ||
| Q1 25 | 2.1% | 5.9% | ||
| Q4 24 | 3.7% | 9.1% | ||
| Q3 24 | 5.0% | 8.1% | ||
| Q2 24 | 1.4% | 6.7% | ||
| Q1 24 | 1.1% | 5.5% |
| Q4 25 | 2.7% | 6.6% | ||
| Q3 25 | 3.0% | 4.8% | ||
| Q2 25 | 4.8% | 5.5% | ||
| Q1 25 | 3.6% | 7.7% | ||
| Q4 24 | 33.3% | 6.9% | ||
| Q3 24 | 10.4% | 5.6% | ||
| Q2 24 | 47.8% | 4.9% | ||
| Q1 24 | 6.9% | 6.4% |
| Q4 25 | $0.07 | $1.01 | ||
| Q3 25 | $0.09 | $0.73 | ||
| Q2 25 | $0.13 | $0.64 | ||
| Q1 25 | $0.10 | $0.85 | ||
| Q4 24 | $0.79 | $0.81 | ||
| Q3 24 | $0.27 | $0.62 | ||
| Q2 24 | $0.22 | $0.50 | ||
| Q1 24 | $0.17 | $0.64 |
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 | $11.3M |
| Total DebtLower is stronger | — | $30.5M |
| Stockholders' EquityBook value | $332.3M | $195.7M |
| Total Assets | $1.8B | $381.1M |
| Debt / EquityLower = less leverage | — | 0.16× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $390.0M | $11.3M | ||
| Q3 25 | $419.9M | $9.8M | ||
| Q2 25 | $459.1M | $38.9M | ||
| Q1 25 | $479.5M | $38.1M | ||
| Q4 24 | $885.9M | $44.9M | ||
| Q3 24 | $725.3M | $51.2M | ||
| Q2 24 | $616.6M | $59.5M | ||
| Q1 24 | $331.4M | $48.2M |
| Q4 25 | — | $30.5M | ||
| Q3 25 | — | $56.3M | ||
| Q2 25 | — | $28.4M | ||
| Q1 25 | — | $23.7M | ||
| Q4 24 | — | $23.6M | ||
| Q3 24 | — | $20.5M | ||
| Q2 24 | — | $19.7M | ||
| Q1 24 | — | $19.4M |
| Q4 25 | $332.3M | $195.7M | ||
| Q3 25 | $328.3M | $181.6M | ||
| Q2 25 | $414.0M | $170.5M | ||
| Q1 25 | $417.9M | $161.1M | ||
| Q4 24 | $446.7M | $153.5M | ||
| Q3 24 | $367.9M | $142.2M | ||
| Q2 24 | $325.8M | $133.0M | ||
| Q1 24 | $279.8M | $125.5M |
| Q4 25 | $1.8B | $381.1M | ||
| Q3 25 | $1.7B | $409.1M | ||
| Q2 25 | $1.8B | $343.0M | ||
| Q1 25 | $1.8B | $336.4M | ||
| Q4 24 | $1.8B | $352.1M | ||
| Q3 24 | $1.7B | $324.4M | ||
| Q2 24 | $1.9B | $303.9M | ||
| Q1 24 | $2.1B | $289.2M |
| Q4 25 | — | 0.16× | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 0.17× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | — | 0.15× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | — | 0.15× | ||
| Q1 24 | — | 0.15× |
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 | $28.1M |
| Free Cash FlowOCF − Capex | $26.1M | $27.9M |
| FCF MarginFCF / Revenue | 14.2% | 14.9% |
| Capex IntensityCapex / Revenue | 0.3% | 0.1% |
| Cash ConversionOCF / Net Profit | 5.46× | 2.29× |
| TTM Free Cash FlowTrailing 4 quarters | $161.5M | $41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.7M | $28.1M | ||
| Q3 25 | $63.8M | $13.3M | ||
| Q2 25 | $32.3M | $2.0M | ||
| Q1 25 | $46.7M | $2.2M | ||
| Q4 24 | $43.8M | $19.3M | ||
| Q3 24 | $55.9M | $4.9M | ||
| Q2 24 | $40.7M | $16.5M | ||
| Q1 24 | $50.4M | $-3.9M |
| Q4 25 | $26.1M | $27.9M | ||
| Q3 25 | $63.3M | $12.8M | ||
| Q2 25 | $31.4M | $1.2M | ||
| Q1 25 | $40.8M | $11.0K | ||
| Q4 24 | $43.0M | $18.0M | ||
| Q3 24 | $55.5M | $4.6M | ||
| Q2 24 | $40.0M | $13.2M | ||
| Q1 24 | $50.1M | $-6.5M |
| Q4 25 | 14.2% | 14.9% | ||
| Q3 25 | 35.5% | 7.0% | ||
| Q2 25 | 18.2% | 0.8% | ||
| Q1 25 | 24.4% | 0.0% | ||
| Q4 24 | 25.4% | 12.5% | ||
| Q3 24 | 33.5% | 3.4% | ||
| Q2 24 | 24.9% | 10.8% | ||
| Q1 24 | 31.8% | -5.5% |
| Q4 25 | 0.3% | 0.1% | ||
| Q3 25 | 0.3% | 0.3% | ||
| Q2 25 | 0.6% | 0.6% | ||
| Q1 25 | 3.6% | 1.7% | ||
| Q4 24 | 0.4% | 0.9% | ||
| Q3 24 | 0.2% | 0.3% | ||
| Q2 24 | 0.4% | 2.7% | ||
| Q1 24 | 0.2% | 2.1% |
| Q4 25 | 5.46× | 2.29× | ||
| Q3 25 | 12.07× | 1.52× | ||
| Q2 25 | 3.90× | 0.26× | ||
| Q1 25 | 7.72× | 0.22× | ||
| Q4 24 | 0.78× | 1.96× | ||
| Q3 24 | 3.24× | 0.66× | ||
| Q2 24 | 0.53× | 2.77× | ||
| Q1 24 | 4.66× | -0.52× |
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% |
LMB
| Owner Direct Relationships Segment | $145.0M | 78% |
| General Contractor Construction Manager Relationships Segment | $41.9M | 22% |
