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BLACKLINE, INC.（BL）与null（SWIM）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null的1.8倍（$183.2M vs $100.0M），BLACKLINE, INC.净利率更高（2.7% vs -7.0%，领先9.7%），null同比增速更快（14.5% vs 8.1%），BLACKLINE, INC.自由现金流更多（$26.1M vs $14.1M），过去两年BLACKLINE, INC.的营收复合增速更高（7.9% vs -4.9%）
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。
该企业是一家源自美国的跨国律师事务所，1934年创立于加利福尼亚州洛杉矶，在诉讼业务、公司法务以及监管合规法律领域拥有深厚的行业积累与知名度，是全球颇具影响力的综合性律所之一。
BL vs SWIM — 直观对比
营收规模更大
BL
是对方的1.8倍
$100.0M
营收增速更快
SWIM
高出6.4%
8.1%
净利率更高
BL
高出9.7%
-7.0%
自由现金流更多
BL
多$12.0M
$14.1M
两年增速更快
BL
近两年复合增速
-4.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $183.2M | $100.0M |
| 净利润 | $4.9M | $-7.0M |
| 毛利率 | 75.2% | 28.0% |
| 营业利润率 | 3.7% | -10.7% |
| 净利率 | 2.7% | -7.0% |
| 营收同比 | 8.1% | 14.5% |
| 净利润同比 | -91.3% | 76.0% |
| 每股收益（稀释后） | $0.07 | $-0.06 |
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BLSWIM
| Q4 25 | $183.2M | $100.0M | ||
| Q3 25 | $178.3M | $161.9M | ||
| Q2 25 | $172.0M | $172.6M | ||
| Q1 25 | $166.9M | $111.4M | ||
| Q4 24 | $169.5M | $87.3M | ||
| Q3 24 | $165.9M | $150.5M | ||
| Q2 24 | $160.5M | $160.1M | ||
| Q1 24 | $157.5M | $110.6M |
净利润BLSWIM
| Q4 25 | $4.9M | $-7.0M | ||
| Q3 25 | $5.3M | $8.1M | ||
| Q2 25 | $8.3M | $16.0M | ||
| Q1 25 | $6.1M | $-6.0M | ||
| Q4 24 | $56.4M | $-29.2M | ||
| Q3 24 | $17.2M | $5.9M | ||
| Q2 24 | $76.7M | $13.3M | ||
| Q1 24 | $10.8M | $-7.9M |
毛利率BLSWIM
| Q4 25 | 75.2% | 28.0% | ||
| Q3 25 | 75.1% | 35.4% | ||
| Q2 25 | 75.2% | 37.1% | ||
| Q1 25 | 75.5% | 29.5% | ||
| Q4 24 | 75.6% | 24.6% | ||
| Q3 24 | 75.2% | 32.4% | ||
| Q2 24 | 74.9% | 33.1% | ||
| Q1 24 | 75.2% | 27.7% |
营业利润率BLSWIM
| Q4 25 | 3.7% | -10.7% | ||
| Q3 25 | 4.3% | 13.3% | ||
| Q2 25 | 4.4% | 14.3% | ||
| Q1 25 | 2.1% | -4.4% | ||
| Q4 24 | 3.7% | -14.9% | ||
| Q3 24 | 5.0% | 8.9% | ||
| Q2 24 | 1.4% | 12.5% | ||
| Q1 24 | 1.1% | -1.9% |
净利率BLSWIM
| Q4 25 | 2.7% | -7.0% | ||
| Q3 25 | 3.0% | 5.0% | ||
| Q2 25 | 4.8% | 9.3% | ||
| Q1 25 | 3.6% | -5.4% | ||
| Q4 24 | 33.3% | -33.4% | ||
| Q3 24 | 10.4% | 3.9% | ||
| Q2 24 | 47.8% | 8.3% | ||
| Q1 24 | 6.9% | -7.1% |
每股收益（稀释后）BLSWIM
| Q4 25 | $0.07 | $-0.06 | ||
| Q3 25 | $0.09 | $0.07 | ||
| Q2 25 | $0.13 | $0.13 | ||
| Q1 25 | $0.10 | $-0.05 | ||
| Q4 24 | $0.79 | $-0.24 | ||
| Q3 24 | $0.27 | $0.05 | ||
| Q2 24 | $0.22 | $0.11 | ||
| Q1 24 | $0.17 | $-0.07 |
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 | — | $279.8M |
| 股东权益账面价值 | $332.3M | $405.9M |
| 总资产 | $1.8B | $823.2M |
| 负债/权益比越低杠杆越低 | — | 0.69× |
8季度趋势，按日历期对齐
现金及短期投资BLSWIM
| Q4 25 | $390.0M | — | ||
| Q3 25 | $419.9M | — | ||
| Q2 25 | $459.1M | — | ||
| Q1 25 | $479.5M | — | ||
| Q4 24 | $885.9M | — | ||
| Q3 24 | $725.3M | — | ||
| Q2 24 | $616.6M | — | ||
| Q1 24 | $331.4M | — |
总债务BLSWIM
| Q4 25 | — | $279.8M | ||
| Q3 25 | — | $281.1M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | — | $281.5M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $282.4M | ||
| Q1 24 | — | $282.8M |
股东权益BLSWIM
| Q4 25 | $332.3M | $405.9M | ||
| Q3 25 | $328.3M | $408.4M | ||
| Q2 25 | $414.0M | $398.4M | ||
| Q1 25 | $417.9M | $381.1M | ||
| Q4 24 | $446.7M | $387.2M | ||
| Q3 24 | $367.9M | $416.6M | ||
| Q2 24 | $325.8M | $408.1M | ||
| Q1 24 | $279.8M | $391.8M |
总资产BLSWIM
| Q4 25 | $1.8B | $823.2M | ||
| Q3 25 | $1.7B | $844.4M | ||
| Q2 25 | $1.8B | $822.1M | ||
| Q1 25 | $1.8B | $824.6M | ||
| Q4 24 | $1.8B | $794.2M | ||
| Q3 24 | $1.7B | $853.4M | ||
| Q2 24 | $1.9B | $830.0M | ||
| Q1 24 | $2.1B | $808.6M |
负债/权益比BLSWIM
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
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 | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $26.1M | $14.1M |
| 自由现金流率自由现金流/营收 | 14.2% | 14.1% |
| 资本支出强度资本支出/营收 | 0.3% | 9.2% |
| 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 | $38.0M |
8季度趋势，按日历期对齐
经营现金流BLSWIM
| Q4 25 | $26.7M | $23.3M | ||
| Q3 25 | $63.8M | $51.0M | ||
| Q2 25 | $32.3M | $36.0M | ||
| Q1 25 | $46.7M | $-46.9M | ||
| Q4 24 | $43.8M | $6.2M | ||
| Q3 24 | $55.9M | $37.2M | ||
| Q2 24 | $40.7M | $52.4M | ||
| Q1 24 | $50.4M | $-34.5M |
自由现金流BLSWIM
| Q4 25 | $26.1M | $14.1M | ||
| Q3 25 | $63.3M | $45.2M | ||
| Q2 25 | $31.4M | $29.1M | ||
| Q1 25 | $40.8M | $-50.3M | ||
| Q4 24 | $43.0M | $-98.0K | ||
| Q3 24 | $55.5M | $33.2M | ||
| Q2 24 | $40.0M | $47.9M | ||
| Q1 24 | $50.1M | $-39.9M |
自由现金流率BLSWIM
| Q4 25 | 14.2% | 14.1% | ||
| Q3 25 | 35.5% | 27.9% | ||
| Q2 25 | 18.2% | 16.8% | ||
| Q1 25 | 24.4% | -45.2% | ||
| Q4 24 | 25.4% | -0.1% | ||
| Q3 24 | 33.5% | 22.1% | ||
| Q2 24 | 24.9% | 29.9% | ||
| Q1 24 | 31.8% | -36.0% |
资本支出强度BLSWIM
| Q4 25 | 0.3% | 9.2% | ||
| Q3 25 | 0.3% | 3.6% | ||
| Q2 25 | 0.6% | 4.0% | ||
| Q1 25 | 3.6% | 3.1% | ||
| Q4 24 | 0.4% | 7.2% | ||
| Q3 24 | 0.2% | 2.7% | ||
| Q2 24 | 0.4% | 2.8% | ||
| Q1 24 | 0.2% | 4.8% |
现金转化率BLSWIM
| Q4 25 | 5.46× | — | ||
| Q3 25 | 12.07× | 6.29× | ||
| Q2 25 | 3.90× | 2.25× | ||
| Q1 25 | 7.72× | — | ||
| Q4 24 | 0.78× | — | ||
| Q3 24 | 3.24× | 6.32× | ||
| Q2 24 | 0.53× | 3.95× | ||
| 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% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
