BlackLine, Inc. — Earnings Quality Grade C
BL · Technology
Some red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO increased by 14 days
AR growth 22.4% exceeds revenue growth 7.2%
Revenue 7.2%, CFFO -11.1%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth 29.2% is >2x revenue growth 7.2%
SG&A/Gross Profit = 71.7%, exceeds 70%
Gross margin 75.2%, change +0.0pp. Stable
Cash Flow Quality
CFFO/NI = 6.92. Profits backed by cash
FCF $0.1B, FCF/NI = 5.50
Accruals ratio = -8.2%. Low accruals
Cash $0.8B covers 85% of debt $0.9B
Balance Sheet Health
Goodwill+Intangibles $0.6B = 170% of equity. Over 50%
Debt/EBITDA = 8.8x (>4x). Financial stress
Other assets 3.8% vs revenue 7.2%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 2% YoY. Normal
Manipulation Score
M-Score = -2.67 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25