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BLACKLINE, INC.（BL）与OCTAVE SPECIALTY GROUP INC（OSG）财务数据对比。点击上方公司名可切换其他公司
BLACKLINE, INC.的季度营收约是OCTAVE SPECIALTY GROUP INC的1.8倍（$183.2M vs $104.2M），BLACKLINE, INC.净利率更高（2.7% vs -6.6%，领先9.2%），OCTAVE SPECIALTY GROUP INC同比增速更快（66.0% vs 8.1%），过去两年OCTAVE SPECIALTY GROUP INC的营收复合增速更高（42.9% vs 7.9%）
BlackLine是一家美国企业级软件公司，总部位于洛杉矶，在全球设有17个办事处，专注于开发云服务，可实现财务结账全流程自动化与管理，同时覆盖财务合并、发票到回款流程及公司间会计核算等业务场景。
奥克塔夫专业集团是一家专业保险控股企业，主营定制化财产与意外伤害保险产品，核心业务聚焦超额剩余保险领域，为北美地区的商业及个人客户提供定制化风险保障解决方案。
BL vs OSG — 直观对比
营收规模更大
BL
是对方的1.8倍
$104.2M
营收增速更快
OSG
高出57.9%
8.1%
净利率更高
BL
高出9.2%
-6.6%
两年增速更快
OSG
近两年复合增速
7.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $183.2M | $104.2M |
| 净利润 | $4.9M | $-6.9M |
| 毛利率 | 75.2% | — |
| 营业利润率 | 3.7% | — |
| 净利率 | 2.7% | -6.6% |
| 营收同比 | 8.1% | 66.0% |
| 净利润同比 | -91.3% | — |
| 每股收益（稀释后） | $0.07 | $-0.13 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收BLOSG
| Q1 26 | — | $104.2M | ||
| Q4 25 | $183.2M | $66.9M | ||
| Q3 25 | $178.3M | $66.6M | ||
| Q2 25 | $172.0M | $55.0M | ||
| Q1 25 | $166.9M | $62.8M | ||
| Q4 24 | $169.5M | $65.2M | ||
| Q3 24 | $165.9M | $70.0M | ||
| Q2 24 | $160.5M | $51.0M |
净利润BLOSG
| Q1 26 | — | $-6.9M | ||
| Q4 25 | $4.9M | $-29.7M | ||
| Q3 25 | $5.3M | $-112.6M | ||
| Q2 25 | $8.3M | $-72.7M | ||
| Q1 25 | $6.1M | $-44.7M | ||
| Q4 24 | $56.4M | $-20.9M | ||
| Q3 24 | $17.2M | $-27.5M | ||
| Q2 24 | $76.7M | $-750.0K |
毛利率BLOSG
| 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% | — |
营业利润率BLOSG
| Q1 26 | — | — | ||
| Q4 25 | 3.7% | -76.7% | ||
| Q3 25 | 4.3% | -48.2% | ||
| Q2 25 | 4.4% | -41.8% | ||
| Q1 25 | 2.1% | -24.1% | ||
| Q4 24 | 3.7% | -55.5% | ||
| Q3 24 | 5.0% | -29.7% | ||
| Q2 24 | 1.4% | -28.9% |
净利率BLOSG
| Q1 26 | — | -6.6% | ||
| Q4 25 | 2.7% | -73.8% | ||
| Q3 25 | 3.0% | -169.1% | ||
| Q2 25 | 4.8% | -132.3% | ||
| Q1 25 | 3.6% | -71.3% | ||
| Q4 24 | 33.3% | -55.1% | ||
| Q3 24 | 10.4% | -39.3% | ||
| Q2 24 | 47.8% | -1.5% |
每股收益（稀释后）BLOSG
| Q1 26 | — | $-0.13 | ||
| Q4 25 | $0.07 | $-0.82 | ||
| Q3 25 | $0.09 | $-2.35 | ||
| Q2 25 | $0.13 | $-1.54 | ||
| Q1 25 | $0.10 | $-1.22 | ||
| Q4 24 | $0.79 | $-11.75 | ||
| Q3 24 | $0.27 | $-0.63 | ||
| Q2 24 | $0.22 | $-0.02 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $390.0M | — |
| 总债务越低越好 | — | $117.1M |
| 股东权益账面价值 | $332.3M | $833.6M |
| 总资产 | $1.8B | $2.3B |
| 负债/权益比越低杠杆越低 | — | 0.14× |
8季度趋势，按日历期对齐
现金及短期投资BLOSG
| Q1 26 | — | — | ||
| Q4 25 | $390.0M | $146.4M | ||
| Q3 25 | $419.9M | $27.5M | ||
| Q2 25 | $459.1M | $22.5M | ||
| Q1 25 | $479.5M | $34.1M | ||
| Q4 24 | $885.9M | $157.2M | ||
| Q3 24 | $725.3M | $40.8M | ||
| Q2 24 | $616.6M | $14.6M |
总债务BLOSG
| Q1 26 | — | $117.1M | ||
| Q4 25 | — | $117.6M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | $518.0M | ||
| Q2 24 | — | $515.0M |
股东权益BLOSG
| Q1 26 | — | $833.6M | ||
| Q4 25 | $332.3M | $715.8M | ||
| Q3 25 | $328.3M | $843.4M | ||
| Q2 25 | $414.0M | $859.8M | ||
| Q1 25 | $417.9M | $852.2M | ||
| Q4 24 | $446.7M | $798.4M | ||
| Q3 24 | $367.9M | $1.5B | ||
| Q2 24 | $325.8M | $1.4B |
总资产BLOSG
| Q1 26 | — | $2.3B | ||
| Q4 25 | $1.8B | $2.2B | ||
| Q3 25 | $1.7B | $2.1B | ||
| Q2 25 | $1.8B | $8.5B | ||
| Q1 25 | $1.8B | $8.3B | ||
| Q4 24 | $1.8B | $8.1B | ||
| Q3 24 | $1.7B | $9.3B | ||
| Q2 24 | $1.9B | $8.2B |
负债/权益比BLOSG
| Q1 26 | — | 0.14× | ||
| Q4 25 | — | 0.16× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.35× | ||
| Q2 24 | — | 0.38× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $26.7M | — |
| 自由现金流经营现金流 - 资本支出 | $26.1M | — |
| 自由现金流率自由现金流/营收 | 14.2% | — |
| 资本支出强度资本支出/营收 | 0.3% | — |
| 现金转化率经营现金流/净利润 | 5.46× | — |
| 过去12个月自由现金流最近4个季度 | $161.5M | — |
8季度趋势，按日历期对齐
经营现金流BLOSG
| Q1 26 | — | — | ||
| Q4 25 | $26.7M | $-52.3M | ||
| Q3 25 | $63.8M | $-41.2M | ||
| Q2 25 | $32.3M | $2.1M | ||
| Q1 25 | $46.7M | $-12.6M | ||
| Q4 24 | $43.8M | $762.0K | ||
| Q3 24 | $55.9M | $48.9M | ||
| Q2 24 | $40.7M | $20.4M |
自由现金流BLOSG
| 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 | — |
自由现金流率BLOSG
| 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% | — |
资本支出强度BLOSG
| 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% | — |
现金转化率BLOSG
| Q1 26 | — | — | ||
| 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× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
BL
| Subscription And Circulation | $173.2M | 95% |
| Technology Service | $10.0M | 5% |
OSG
| Commissions | $68.2M | 65% |
| Other | $20.6M | 20% |
| Servicing and other fees | $9.4M | 9% |
| Program fees | $3.6M | 3% |
| Investment income | $2.4M | 2% |
