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Side-by-side financial comparison of BLACKLINE, INC. (BL) and Mayville Engineering Company, Inc. (MEC). Click either name above to swap in a different company.
BLACKLINE, INC. is the larger business by last-quarter revenue ($183.2M vs $134.3M, roughly 1.4× Mayville Engineering Company, Inc.). BLACKLINE, INC. runs the higher net margin — 2.7% vs -3.2%, a 5.9% gap on every dollar of revenue. On growth, Mayville Engineering Company, Inc. posted the faster year-over-year revenue change (10.7% vs 8.1%). BLACKLINE, INC. produced more free cash flow last quarter ($26.1M vs $10.2M). Over the past eight quarters, BLACKLINE, INC.'s revenue compounded faster (7.9% CAGR vs -8.8%).
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.
Mayville Engineering Company, Inc. is a U.S.-headquartered leading manufacturer of metal components, fabricated assemblies, and custom engineered solutions. It serves OEM clients across agriculture, construction, transportation, defense, and power sports markets, offering end-to-end services from prototyping to high-volume production for North America.
BL vs MEC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $183.2M | $134.3M |
| Net Profit | $4.9M | $-4.4M |
| Gross Margin | 75.2% | 6.8% |
| Operating Margin | 3.7% | -4.1% |
| Net Margin | 2.7% | -3.2% |
| Revenue YoY | 8.1% | 10.7% |
| Net Profit YoY | -91.3% | -127.3% |
| EPS (diluted) | $0.07 | $-0.22 |
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 | $134.3M | ||
| Q3 25 | $178.3M | $144.3M | ||
| Q2 25 | $172.0M | $132.3M | ||
| Q1 25 | $166.9M | $135.6M | ||
| Q4 24 | $169.5M | $121.3M | ||
| Q3 24 | $165.9M | $135.4M | ||
| Q2 24 | $160.5M | $163.6M | ||
| Q1 24 | $157.5M | $161.3M |
| Q4 25 | $4.9M | $-4.4M | ||
| Q3 25 | $5.3M | $-2.7M | ||
| Q2 25 | $8.3M | $-1.1M | ||
| Q1 25 | $6.1M | $20.0K | ||
| Q4 24 | $56.4M | $16.0M | ||
| Q3 24 | $17.2M | $3.0M | ||
| Q2 24 | $76.7M | $3.8M | ||
| Q1 24 | $10.8M | $3.2M |
| Q4 25 | 75.2% | 6.8% | ||
| Q3 25 | 75.1% | 11.0% | ||
| Q2 25 | 75.2% | 10.3% | ||
| Q1 25 | 75.5% | 11.3% | ||
| Q4 24 | 75.6% | 8.9% | ||
| Q3 24 | 75.2% | 12.6% | ||
| Q2 24 | 74.9% | 13.6% | ||
| Q1 24 | 75.2% | 13.0% |
| Q4 25 | 3.7% | -4.1% | ||
| Q3 25 | 4.3% | 0.0% | ||
| Q2 25 | 4.4% | 0.1% | ||
| Q1 25 | 2.1% | 1.2% | ||
| Q4 24 | 3.7% | 19.0% | ||
| Q3 24 | 5.0% | 4.2% | ||
| Q2 24 | 1.4% | 5.0% | ||
| Q1 24 | 1.1% | 4.7% |
| Q4 25 | 2.7% | -3.2% | ||
| Q3 25 | 3.0% | -1.9% | ||
| Q2 25 | 4.8% | -0.8% | ||
| Q1 25 | 3.6% | 0.0% | ||
| Q4 24 | 33.3% | 13.2% | ||
| Q3 24 | 10.4% | 2.2% | ||
| Q2 24 | 47.8% | 2.3% | ||
| Q1 24 | 6.9% | 2.0% |
| Q4 25 | $0.07 | $-0.22 | ||
| Q3 25 | $0.09 | $-0.13 | ||
| Q2 25 | $0.13 | $-0.05 | ||
| Q1 25 | $0.10 | $0.00 | ||
| Q4 24 | $0.79 | $0.76 | ||
| Q3 24 | $0.27 | $0.14 | ||
| Q2 24 | $0.22 | $0.18 | ||
| Q1 24 | $0.17 | $0.16 |
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 | $1.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $332.3M | $240.7M |
| Total Assets | $1.8B | $563.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $390.0M | $1.5M | ||
| Q3 25 | $419.9M | $1.2M | ||
| Q2 25 | $459.1M | $206.0K | ||
| Q1 25 | $479.5M | $183.0K | ||
| Q4 24 | $885.9M | $206.0K | ||
| Q3 24 | $725.3M | $178.0K | ||
| Q2 24 | $616.6M | $314.0K | ||
| Q1 24 | $331.4M | $314.0K |
| Q4 25 | $332.3M | $240.7M | ||
| Q3 25 | $328.3M | $244.8M | ||
| Q2 25 | $414.0M | $246.8M | ||
| Q1 25 | $417.9M | $250.0M | ||
| Q4 24 | $446.7M | $251.8M | ||
| Q3 24 | $367.9M | $238.4M | ||
| Q2 24 | $325.8M | $238.1M | ||
| Q1 24 | $279.8M | $234.0M |
| Q4 25 | $1.8B | $563.6M | ||
| Q3 25 | $1.7B | $585.6M | ||
| Q2 25 | $1.8B | $433.7M | ||
| Q1 25 | $1.8B | $447.7M | ||
| Q4 24 | $1.8B | $445.6M | ||
| Q3 24 | $1.7B | $466.0M | ||
| Q2 24 | $1.9B | $488.2M | ||
| Q1 24 | $2.1B | $499.9M |
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 | $13.4M |
| Free Cash FlowOCF − Capex | $26.1M | $10.2M |
| FCF MarginFCF / Revenue | 14.2% | 7.6% |
| Capex IntensityCapex / Revenue | 0.3% | 2.4% |
| Cash ConversionOCF / Net Profit | 5.46× | — |
| TTM Free Cash FlowTrailing 4 quarters | $161.5M | $26.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.7M | $13.4M | ||
| Q3 25 | $63.8M | $1.9M | ||
| Q2 25 | $32.3M | $15.0M | ||
| Q1 25 | $46.7M | $8.3M | ||
| Q4 24 | $43.8M | $38.0M | ||
| Q3 24 | $55.9M | $17.9M | ||
| Q2 24 | $40.7M | $23.3M | ||
| Q1 24 | $50.4M | $10.6M |
| Q4 25 | $26.1M | $10.2M | ||
| Q3 25 | $63.3M | $-1.1M | ||
| Q2 25 | $31.4M | $12.5M | ||
| Q1 25 | $40.8M | $5.4M | ||
| Q4 24 | $43.0M | $35.6M | ||
| Q3 24 | $55.5M | $15.1M | ||
| Q2 24 | $40.0M | $19.2M | ||
| Q1 24 | $50.1M | $7.8M |
| Q4 25 | 14.2% | 7.6% | ||
| Q3 25 | 35.5% | -0.8% | ||
| Q2 25 | 18.2% | 9.5% | ||
| Q1 25 | 24.4% | 4.0% | ||
| Q4 24 | 25.4% | 29.4% | ||
| Q3 24 | 33.5% | 11.1% | ||
| Q2 24 | 24.9% | 11.7% | ||
| Q1 24 | 31.8% | 4.9% |
| Q4 25 | 0.3% | 2.4% | ||
| Q3 25 | 0.3% | 2.1% | ||
| Q2 25 | 0.6% | 1.8% | ||
| Q1 25 | 3.6% | 2.2% | ||
| Q4 24 | 0.4% | 1.9% | ||
| Q3 24 | 0.2% | 2.1% | ||
| Q2 24 | 0.4% | 2.5% | ||
| Q1 24 | 0.2% | 1.7% |
| Q4 25 | 5.46× | — | ||
| Q3 25 | 12.07× | — | ||
| Q2 25 | 3.90× | — | ||
| Q1 25 | 7.72× | 416.65× | ||
| Q4 24 | 0.78× | 2.38× | ||
| Q3 24 | 3.24× | 6.03× | ||
| Q2 24 | 0.53× | 6.15× | ||
| Q1 24 | 4.66× | 3.28× |
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% |
MEC
| Fabrication | $72.2M | 54% |
| Construction And Access | $19.2M | 14% |
| Tubes | $16.2M | 12% |
| Other Market | $11.9M | 9% |
| Agriculture | $7.7M | 6% |
| Military | $6.7M | 5% |
| Outdoor Sports | $1.7M | 1% |
