vs
BLACKLINE, INC.（BL）与BRC Group Holdings, Inc.（RILY）财务数据对比。点击上方公司名可切换其他公司
BRC Group Holdings, Inc.的季度营收约是BLACKLINE, INC.的1.0倍（$188.3M vs $183.2M），BRC Group Holdings, Inc.净利率更高（47.9% vs 2.7%，领先45.3%），BLACKLINE, INC.同比增速更快（8.1% vs -21.9%），过去两年BLACKLINE, INC.的营收复合增速更高（7.9% vs -15.4%）
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。
BL vs RILY — 直观对比
营收规模更大
RILY
是对方的1.0倍
$183.2M
营收增速更快
BL
高出30.0%
-21.9%
净利率更高
RILY
高出45.3%
2.7%
两年增速更快
BL
近两年复合增速
-15.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $183.2M | $188.3M |
| 净利润 | $4.9M | $90.3M |
| 毛利率 | 75.2% | 79.5% |
| 营业利润率 | 3.7% | 32.3% |
| 净利率 | 2.7% | 47.9% |
| 营收同比 | 8.1% | -21.9% |
| 净利润同比 | -91.3% | 1710.8% |
| 每股收益（稀释后） | $0.07 | $2.78 |
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BLRILY
| Q4 25 | $183.2M | $188.3M | ||
| Q3 25 | $178.3M | $215.3M | ||
| Q2 25 | $172.0M | $188.2M | ||
| Q1 25 | $166.9M | $197.2M | ||
| Q4 24 | $169.5M | $241.0M | ||
| Q3 24 | $165.9M | $225.5M | ||
| Q2 24 | $160.5M | $256.0M | ||
| Q1 24 | $157.5M | $263.4M |
净利润BLRILY
| Q4 25 | $4.9M | $90.3M | ||
| Q3 25 | $5.3M | $91.1M | ||
| Q2 25 | $8.3M | $139.5M | ||
| Q1 25 | $6.1M | $-10.0M | ||
| Q4 24 | $56.4M | $-5.6M | ||
| Q3 24 | $17.2M | $-284.4M | ||
| Q2 24 | $76.7M | $-433.6M | ||
| Q1 24 | $10.8M | $-49.2M |
毛利率BLRILY
| Q4 25 | 75.2% | 79.5% | ||
| Q3 25 | 75.1% | 83.7% | ||
| Q2 25 | 75.2% | 81.3% | ||
| Q1 25 | 75.5% | 81.4% | ||
| Q4 24 | 75.6% | 79.8% | ||
| Q3 24 | 75.2% | 82.1% | ||
| Q2 24 | 74.9% | 84.5% | ||
| Q1 24 | 75.2% | 85.3% |
营业利润率BLRILY
| Q4 25 | 3.7% | 32.3% | ||
| Q3 25 | 4.3% | 30.4% | ||
| Q2 25 | 4.4% | 5.7% | ||
| Q1 25 | 2.1% | -31.2% | ||
| Q4 24 | 3.7% | -69.2% | ||
| Q3 24 | 5.0% | -36.4% | ||
| Q2 24 | 1.4% | -90.8% | ||
| Q1 24 | 1.1% | -6.1% |
净利率BLRILY
| Q4 25 | 2.7% | 47.9% | ||
| Q3 25 | 3.0% | 42.3% | ||
| Q2 25 | 4.8% | 74.1% | ||
| Q1 25 | 3.6% | -5.1% | ||
| Q4 24 | 33.3% | -2.3% | ||
| Q3 24 | 10.4% | -126.1% | ||
| Q2 24 | 47.8% | -169.4% | ||
| Q1 24 | 6.9% | -18.7% |
每股收益（稀释后）BLRILY
| Q4 25 | $0.07 | $2.78 | ||
| Q3 25 | $0.09 | $2.91 | ||
| Q2 25 | $0.13 | $4.50 | ||
| Q1 25 | $0.10 | $-0.39 | ||
| Q4 24 | $0.79 | $-0.01 | ||
| Q3 24 | $0.27 | $-9.39 | ||
| Q2 24 | $0.22 | $-14.35 | ||
| Q1 24 | $0.17 | $-1.71 |
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 | $226.6M |
| 总债务越低越好 | — | $1.4B |
| 股东权益账面价值 | $332.3M | $-171.5M |
| 总资产 | $1.8B | $1.7B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资BLRILY
| Q4 25 | $390.0M | $226.6M | ||
| Q3 25 | $419.9M | $184.2M | ||
| Q2 25 | $459.1M | $267.4M | ||
| Q1 25 | $479.5M | $138.3M | ||
| Q4 24 | $885.9M | $146.9M | ||
| Q3 24 | $725.3M | $159.2M | ||
| Q2 24 | $616.6M | $236.9M | ||
| Q1 24 | $331.4M | $190.7M |
总债务BLRILY
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益BLRILY
| Q4 25 | $332.3M | $-171.5M | ||
| Q3 25 | $328.3M | $-260.5M | ||
| Q2 25 | $414.0M | $-351.7M | ||
| Q1 25 | $417.9M | $-496.8M | ||
| Q4 24 | $446.7M | $-488.2M | ||
| Q3 24 | $367.9M | $-497.6M | ||
| Q2 24 | $325.8M | $-218.3M | ||
| Q1 24 | $279.8M | $228.4M |
总资产BLRILY
| Q4 25 | $1.8B | $1.7B | ||
| Q3 25 | $1.7B | $1.7B | ||
| Q2 25 | $1.8B | $1.5B | ||
| Q1 25 | $1.8B | $1.5B | ||
| Q4 24 | $1.8B | $1.8B | ||
| Q3 24 | $1.7B | $2.2B | ||
| Q2 24 | $1.9B | $3.2B | ||
| Q1 24 | $2.1B | $5.0B |
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 | $26.2M |
| 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× | 0.29× |
| 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BLRILY
| Q4 25 | $26.7M | $26.2M | ||
| Q3 25 | $63.8M | $-60.6M | ||
| Q2 25 | $32.3M | $-25.6M | ||
| Q1 25 | $46.7M | $184.0K | ||
| Q4 24 | $43.8M | $-2.7M | ||
| Q3 24 | $55.9M | $19.5M | ||
| Q2 24 | $40.7M | $111.5M | ||
| Q1 24 | $50.4M | $135.4M |
自由现金流BLRILY
| 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 | — |
自由现金流率BLRILY
| 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% | — |
资本支出强度BLRILY
| 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% | — |
现金转化率BLRILY
| Q4 25 | 5.46× | 0.29× | ||
| Q3 25 | 12.07× | -0.66× | ||
| Q2 25 | 3.90× | -0.18× | ||
| Q1 25 | 7.72× | — | ||
| Q4 24 | 0.78× | — | ||
| Q3 24 | 3.24× | — | ||
| Q2 24 | 0.53× | — | ||
| Q1 24 | 4.66× | — |
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% |
RILY
| Transferred At Point In Time | $101.4M | 54% |
| Wealth Management Segment | $30.7M | 16% |
| Corporate Finance Consulting And Investment Banking Fees | $27.1M | 14% |
| Services And Fees | $24.8M | 13% |
| Commissions Fees And Reimbursed Expenses | $4.8M | 3% |
