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Side-by-side financial comparison of BLACKLINE, INC. (BL) and Piedmont Realty Trust, Inc. (PDM). Click either name above to swap in a different company.
BLACKLINE, INC. is the larger business by last-quarter revenue ($183.2M vs $142.9M, roughly 1.3× Piedmont Realty Trust, Inc.). BLACKLINE, INC. runs the higher net margin — 2.7% vs -30.3%, a 32.9% gap on every dollar of revenue. On growth, BLACKLINE, INC. posted the faster year-over-year revenue change (8.1% vs -0.3%). Over the past eight quarters, BLACKLINE, INC.'s revenue compounded faster (7.9% CAGR vs -0.6%).
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.
Piedmont Realty Trust, Inc. is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality office properties primarily located in high-growth metropolitan areas across the United States. It serves corporate tenants across multiple industry sectors including technology, professional services, and healthcare, and pursues stable long-term returns for stakeholders via strategic property management and portfolio optimization.
BL vs PDM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $183.2M | $142.9M |
| Net Profit | $4.9M | $-43.2M |
| Gross Margin | 75.2% | — |
| Operating Margin | 3.7% | — |
| Net Margin | 2.7% | -30.3% |
| Revenue YoY | 8.1% | -0.3% |
| Net Profit YoY | -91.3% | -44.3% |
| EPS (diluted) | $0.07 | $-0.34 |
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 | $142.9M | ||
| Q3 25 | $178.3M | $139.2M | ||
| Q2 25 | $172.0M | $140.3M | ||
| Q1 25 | $166.9M | $142.7M | ||
| Q4 24 | $169.5M | $143.2M | ||
| Q3 24 | $165.9M | $139.3M | ||
| Q2 24 | $160.5M | $143.3M | ||
| Q1 24 | $157.5M | $144.5M |
| Q4 25 | $4.9M | $-43.2M | ||
| Q3 25 | $5.3M | $-13.5M | ||
| Q2 25 | $8.3M | $-16.8M | ||
| Q1 25 | $6.1M | $-10.1M | ||
| Q4 24 | $56.4M | $-30.0M | ||
| Q3 24 | $17.2M | $-11.5M | ||
| Q2 24 | $76.7M | $-9.8M | ||
| Q1 24 | $10.8M | $-27.8M |
| 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% | — | ||
| Q3 25 | 4.3% | — | ||
| Q2 25 | 4.4% | — | ||
| Q1 25 | 2.1% | — | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | 5.0% | — | ||
| Q2 24 | 1.4% | — | ||
| Q1 24 | 1.1% | — |
| Q4 25 | 2.7% | -30.3% | ||
| Q3 25 | 3.0% | -9.7% | ||
| Q2 25 | 4.8% | -12.0% | ||
| Q1 25 | 3.6% | -7.1% | ||
| Q4 24 | 33.3% | -20.9% | ||
| Q3 24 | 10.4% | -8.3% | ||
| Q2 24 | 47.8% | -6.8% | ||
| Q1 24 | 6.9% | -19.2% |
| Q4 25 | $0.07 | $-0.34 | ||
| Q3 25 | $0.09 | $-0.11 | ||
| Q2 25 | $0.13 | $-0.14 | ||
| Q1 25 | $0.10 | $-0.08 | ||
| Q4 24 | $0.79 | $-0.25 | ||
| Q3 24 | $0.27 | $-0.09 | ||
| Q2 24 | $0.22 | $-0.08 | ||
| Q1 24 | $0.17 | $-0.22 |
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 | $731.0K |
| Total DebtLower is stronger | — | $2.2B |
| Stockholders' EquityBook value | $332.3M | $1.5B |
| Total Assets | $1.8B | $4.0B |
| Debt / EquityLower = less leverage | — | 1.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $390.0M | $731.0K | ||
| Q3 25 | $419.9M | $3.0M | ||
| Q2 25 | $459.1M | $3.3M | ||
| Q1 25 | $479.5M | $2.9M | ||
| Q4 24 | $885.9M | $109.6M | ||
| Q3 24 | $725.3M | $133.6M | ||
| Q2 24 | $616.6M | $138.5M | ||
| Q1 24 | $331.4M | $3.5M |
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $2.2B | ||
| Q1 24 | — | $2.1B |
| Q4 25 | $332.3M | $1.5B | ||
| Q3 25 | $328.3M | $1.5B | ||
| Q2 25 | $414.0M | $1.5B | ||
| Q1 25 | $417.9M | $1.6B | ||
| Q4 24 | $446.7M | $1.6B | ||
| Q3 24 | $367.9M | $1.6B | ||
| Q2 24 | $325.8M | $1.7B | ||
| Q1 24 | $279.8M | $1.7B |
| Q4 25 | $1.8B | $4.0B | ||
| Q3 25 | $1.7B | $4.0B | ||
| Q2 25 | $1.8B | $4.0B | ||
| Q1 25 | $1.8B | $4.0B | ||
| Q4 24 | $1.8B | $4.1B | ||
| Q3 24 | $1.7B | $4.1B | ||
| Q2 24 | $1.9B | $4.2B | ||
| Q1 24 | $2.1B | $4.0B |
| Q4 25 | — | 1.49× | ||
| Q3 25 | — | 1.43× | ||
| Q2 25 | — | 1.41× | ||
| Q1 25 | — | 1.40× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | — | 1.36× | ||
| Q2 24 | — | 1.34× | ||
| Q1 24 | — | 1.23× |
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 | $140.6M |
| 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.
| Q4 25 | $26.7M | $140.6M | ||
| Q3 25 | $63.8M | $35.8M | ||
| Q2 25 | $32.3M | $50.1M | ||
| Q1 25 | $46.7M | $3.7M | ||
| Q4 24 | $43.8M | $198.1M | ||
| Q3 24 | $55.9M | $42.9M | ||
| Q2 24 | $40.7M | $66.8M | ||
| Q1 24 | $50.4M | $23.4M |
| 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 24 | $50.1M | — |
| 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 24 | 31.8% | — |
| 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 24 | 0.2% | — |
| Q4 25 | 5.46× | — | ||
| Q3 25 | 12.07× | — | ||
| Q2 25 | 3.90× | — | ||
| Q1 25 | 7.72× | — | ||
| Q4 24 | 0.78× | — | ||
| Q3 24 | 3.24× | — | ||
| Q2 24 | 0.53× | — | ||
| Q1 24 | 4.66× | — |
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% |
PDM
| Atlanta GA | $45.7M | 32% |
| Dallas TX | $24.1M | 17% |
| Orlando FL | $19.3M | 13% |
| New York NY | $14.7M | 10% |
| Northern Virginia Washington D.C. | $12.9M | 9% |
| Minneapolis MN | $11.4M | 8% |
| Boston MA | $9.8M | 7% |
| Real Estate Other | $7.8M | 5% |
