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BLACKLINE, INC.（BL）与WORKIVA INC（WK）财务数据对比。点击上方公司名可切换其他公司
WORKIVA INC的季度营收约是BLACKLINE, INC.的1.3倍（$238.9M vs $183.2M），WORKIVA INC净利率更高（4.9% vs 2.7%，领先2.3%），WORKIVA INC同比增速更快（19.5% vs 8.1%），WORKIVA INC自由现金流更多（$50.7M vs $26.1M），过去两年WORKIVA INC的营收复合增速更高（16.6% 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。
Workiva Inc.是一家全球知名的SaaS企业，主打云原生关联报告合规平台，支持关联数据调用与报告流程自动化，可广泛应用于财务、会计、风险及合规等多个业务场景，助力企业提升运营效率与合规管理水平。
BL vs WK — 直观对比
营收规模更大
WK
是对方的1.3倍
$183.2M
营收增速更快
WK
高出11.4%
8.1%
净利率更高
WK
高出2.3%
2.7%
自由现金流更多
WK
多$24.7M
$26.1M
两年增速更快
WK
近两年复合增速
7.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $183.2M | $238.9M |
| 净利润 | $4.9M | $11.8M |
| 毛利率 | 75.2% | 80.7% |
| 营业利润率 | 3.7% | 3.3% |
| 净利率 | 2.7% | 4.9% |
| 营收同比 | 8.1% | 19.5% |
| 净利润同比 | -91.3% | 234.0% |
| 每股收益（稀释后） | $0.07 | $0.21 |
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BLWK
| Q4 25 | $183.2M | $238.9M | ||
| Q3 25 | $178.3M | $224.2M | ||
| Q2 25 | $172.0M | $215.2M | ||
| Q1 25 | $166.9M | $206.3M | ||
| Q4 24 | $169.5M | $199.9M | ||
| Q3 24 | $165.9M | $185.6M | ||
| Q2 24 | $160.5M | $177.5M | ||
| Q1 24 | $157.5M | $175.7M |
净利润BLWK
| Q4 25 | $4.9M | $11.8M | ||
| Q3 25 | $5.3M | $2.8M | ||
| Q2 25 | $8.3M | $-19.4M | ||
| Q1 25 | $6.1M | $-21.4M | ||
| Q4 24 | $56.4M | $-8.8M | ||
| Q3 24 | $17.2M | $-17.0M | ||
| Q2 24 | $76.7M | $-17.5M | ||
| Q1 24 | $10.8M | $-11.7M |
毛利率BLWK
| Q4 25 | 75.2% | 80.7% | ||
| Q3 25 | 75.1% | 79.3% | ||
| Q2 25 | 75.2% | 77.0% | ||
| Q1 25 | 75.5% | 76.6% | ||
| Q4 24 | 75.6% | 77.1% | ||
| Q3 24 | 75.2% | 76.5% | ||
| Q2 24 | 74.9% | 76.8% | ||
| Q1 24 | 75.2% | 76.4% |
营业利润率BLWK
| Q4 25 | 3.7% | 3.3% | ||
| Q3 25 | 4.3% | -1.5% | ||
| Q2 25 | 4.4% | -10.3% | ||
| Q1 25 | 2.1% | -12.0% | ||
| Q4 24 | 3.7% | -6.7% | ||
| Q3 24 | 5.0% | -11.7% | ||
| Q2 24 | 1.4% | -13.0% | ||
| Q1 24 | 1.1% | -10.4% |
净利率BLWK
| Q4 25 | 2.7% | 4.9% | ||
| Q3 25 | 3.0% | 1.2% | ||
| Q2 25 | 4.8% | -9.0% | ||
| Q1 25 | 3.6% | -10.4% | ||
| Q4 24 | 33.3% | -4.4% | ||
| Q3 24 | 10.4% | -9.2% | ||
| Q2 24 | 47.8% | -9.9% | ||
| Q1 24 | 6.9% | -6.7% |
每股收益（稀释后）BLWK
| Q4 25 | $0.07 | $0.21 | ||
| Q3 25 | $0.09 | $0.05 | ||
| Q2 25 | $0.13 | $-0.35 | ||
| Q1 25 | $0.10 | $-0.38 | ||
| Q4 24 | $0.79 | $-0.15 | ||
| Q3 24 | $0.27 | $-0.31 | ||
| Q2 24 | $0.22 | $-0.32 | ||
| Q1 24 | $0.17 | $-0.21 |
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 | $338.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $332.3M | $-5.4M |
| 总资产 | $1.8B | $1.5B |
| 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BLWK
| Q4 25 | $390.0M | $338.8M | ||
| Q3 25 | $419.9M | $315.9M | ||
| Q2 25 | $459.1M | $284.3M | ||
| Q1 25 | $479.5M | $242.0M | ||
| Q4 24 | $885.9M | $301.8M | ||
| Q3 24 | $725.3M | $248.2M | ||
| Q2 24 | $616.6M | $267.9M | ||
| Q1 24 | $331.4M | $296.1M |
股东权益BLWK
| Q4 25 | $332.3M | $-5.4M | ||
| Q3 25 | $328.3M | $-36.9M | ||
| Q2 25 | $414.0M | $-66.5M | ||
| Q1 25 | $417.9M | $-75.7M | ||
| Q4 24 | $446.7M | $-41.7M | ||
| Q3 24 | $367.9M | $-50.8M | ||
| Q2 24 | $325.8M | $-77.7M | ||
| Q1 24 | $279.8M | $-83.2M |
总资产BLWK
| Q4 25 | $1.8B | $1.5B | ||
| Q3 25 | $1.7B | $1.4B | ||
| Q2 25 | $1.8B | $1.3B | ||
| Q1 25 | $1.8B | $1.3B | ||
| Q4 24 | $1.8B | $1.4B | ||
| Q3 24 | $1.7B | $1.3B | ||
| Q2 24 | $1.9B | $1.2B | ||
| Q1 24 | $2.1B | $1.2B |
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 | $51.0M |
| 自由现金流经营现金流 - 资本支出 | $26.1M | $50.7M |
| 自由现金流率自由现金流/营收 | 14.2% | 21.2% |
| 资本支出强度资本支出/营收 | 0.3% | 0.1% |
| 现金转化率经营现金流/净利润 | 5.46× | 4.31× |
| 过去12个月自由现金流最近4个季度 | $161.5M | $138.0M |
8季度趋势，按日历期对齐
经营现金流BLWK
| Q4 25 | $26.7M | $51.0M | ||
| Q3 25 | $63.8M | $46.2M | ||
| Q2 25 | $32.3M | $50.3M | ||
| Q1 25 | $46.7M | $-7.4M | ||
| Q4 24 | $43.8M | $44.0M | ||
| Q3 24 | $55.9M | $18.9M | ||
| Q2 24 | $40.7M | $-14.0K | ||
| Q1 24 | $50.4M | $24.8M |
自由现金流BLWK
| Q4 25 | $26.1M | $50.7M | ||
| Q3 25 | $63.3M | $46.1M | ||
| Q2 25 | $31.4M | $49.3M | ||
| Q1 25 | $40.8M | $-8.1M | ||
| Q4 24 | $43.0M | $43.2M | ||
| Q3 24 | $55.5M | $18.7M | ||
| Q2 24 | $40.0M | $-122.0K | ||
| Q1 24 | $50.1M | $24.6M |
自由现金流率BLWK
| Q4 25 | 14.2% | 21.2% | ||
| Q3 25 | 35.5% | 20.5% | ||
| Q2 25 | 18.2% | 22.9% | ||
| Q1 25 | 24.4% | -3.9% | ||
| Q4 24 | 25.4% | 21.6% | ||
| Q3 24 | 33.5% | 10.1% | ||
| Q2 24 | 24.9% | -0.1% | ||
| Q1 24 | 31.8% | 14.0% |
资本支出强度BLWK
| Q4 25 | 0.3% | 0.1% | ||
| Q3 25 | 0.3% | 0.0% | ||
| Q2 25 | 0.6% | 0.5% | ||
| Q1 25 | 3.6% | 0.4% | ||
| Q4 24 | 0.4% | 0.4% | ||
| Q3 24 | 0.2% | 0.1% | ||
| Q2 24 | 0.4% | 0.1% | ||
| Q1 24 | 0.2% | 0.1% |
现金转化率BLWK
| Q4 25 | 5.46× | 4.31× | ||
| Q3 25 | 12.07× | 16.57× | ||
| Q2 25 | 3.90× | — | ||
| 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% |
WK
| License And Service | $219.3M | 92% |
| XBRL Professional Services | $16.4M | 7% |
| Other Services | $3.2M | 1% |
