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BLACKBAUD INC (BLKB) Stock Fundamental Analysis

NASDAQ:BLKB - Nasdaq - US09227Q1004 - Common Stock - Currency: USD

65.75  +0.81 (+1.25%)

After market: 65.75 0 (0%)

Fundamental Rating

3

Overall BLKB gets a fundamental rating of 3 out of 10. We evaluated BLKB against 282 industry peers in the Software industry. While BLKB is still in line with the averages on profitability rating, there are concerns on its financial health. BLKB has a valuation in line with the averages, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year BLKB was profitable.
In the past year BLKB had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: BLKB reported negative net income in multiple years.
In the past 5 years BLKB always reported a positive cash flow from operatings.
BLKB Yearly Net Income VS EBIT VS OCF VS FCFBLKB Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M -100M 200M -200M

1.2 Ratios

With a Return On Assets value of -13.49%, BLKB is not doing good in the industry: 64.89% of the companies in the same industry are doing better.
BLKB has a worse Return On Equity (-854.71%) than 84.75% of its industry peers.
The Return On Invested Capital of BLKB (9.22%) is better than 85.82% of its industry peers.
Industry RankSector Rank
ROA -13.49%
ROE -854.71%
ROIC 9.22%
ROA(3y)-4.27%
ROA(5y)-2.45%
ROE(3y)-68.43%
ROE(5y)-40.54%
ROIC(3y)N/A
ROIC(5y)N/A
BLKB Yearly ROA, ROE, ROICBLKB Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -50 -100 -150

1.3 Margins

BLKB has a Operating Margin of 12.60%. This is in the better half of the industry: BLKB outperforms 79.43% of its industry peers.
In the last couple of years the Operating Margin of BLKB has grown nicely.
The Gross Margin of BLKB (55.98%) is worse than 63.83% of its industry peers.
BLKB's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 12.6%
PM (TTM) N/A
GM 55.98%
OM growth 3Y55.49%
OM growth 5Y26.14%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y1.94%
GM growth 5Y0.66%
BLKB Yearly Profit, Operating, Gross MarginsBLKB Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40

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1

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), BLKB is destroying value.
Compared to 1 year ago, BLKB has less shares outstanding
The number of shares outstanding for BLKB has been increased compared to 5 years ago.
The debt/assets ratio for BLKB is higher compared to a year ago.
BLKB Yearly Shares OutstandingBLKB Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M 50M
BLKB Yearly Total Debt VS Total AssetsBLKB Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B 2.5B

2.2 Solvency

BLKB has an Altman-Z score of 1.51. This is a bad value and indicates that BLKB is not financially healthy and even has some risk of bankruptcy.
With a Altman-Z score value of 1.51, BLKB perfoms like the industry average, outperforming 41.13% of the companies in the same industry.
The Debt to FCF ratio of BLKB is 7.30, which is on the high side as it means it would take BLKB, 7.30 years of fcf income to pay off all of its debts.
BLKB's Debt to FCF ratio of 7.30 is in line compared to the rest of the industry. BLKB outperforms 53.19% of its industry peers.
A Debt/Equity ratio of 35.64 is on the high side and indicates that BLKB has dependencies on debt financing.
BLKB's Debt to Equity ratio of 35.64 is on the low side compared to the rest of the industry. BLKB is outperformed by 85.46% of its industry peers.
Industry RankSector Rank
Debt/Equity 35.64
Debt/FCF 7.3
Altman-Z 1.51
ROIC/WACC0.86
WACC10.67%
BLKB Yearly LT Debt VS Equity VS FCFBLKB Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

2.3 Liquidity

A Current Ratio of 0.73 indicates that BLKB may have some problems paying its short term obligations.
BLKB's Current ratio of 0.73 is on the low side compared to the rest of the industry. BLKB is outperformed by 84.75% of its industry peers.
A Quick Ratio of 0.73 indicates that BLKB may have some problems paying its short term obligations.
BLKB has a Quick ratio of 0.73. This is amonst the worse of the industry: BLKB underperforms 84.75% of its industry peers.
Industry RankSector Rank
Current Ratio 0.73
Quick Ratio 0.73
BLKB Yearly Current Assets VS Current LiabilitesBLKB Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

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3

3. Growth

3.1 Past

The earnings per share for BLKB have decreased by -1.44% in the last year.
Measured over the past years, BLKB shows a quite strong growth in Earnings Per Share. The EPS has been growing by 12.74% on average per year.
Looking at the last year, BLKB shows a small growth in Revenue. The Revenue has grown by 2.14% in the last year.
The Revenue has been growing slightly by 5.12% on average over the past years.
EPS 1Y (TTM)-1.44%
EPS 3Y10.43%
EPS 5Y12.74%
EPS Q2Q%3.23%
Revenue 1Y (TTM)2.14%
Revenue growth 3Y7.59%
Revenue growth 5Y5.12%
Sales Q2Q%-3.08%

3.2 Future

BLKB is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 8.34% yearly.
BLKB is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.94% yearly.
EPS Next Y5.58%
EPS Next 2Y6.83%
EPS Next 3Y3.46%
EPS Next 5Y8.34%
Revenue Next Year-3.31%
Revenue Next 2Y0.3%
Revenue Next 3Y1.83%
Revenue Next 5Y2.94%

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
BLKB Yearly Revenue VS EstimatesBLKB Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 500M 1B 1.5B
BLKB Yearly EPS VS EstimatesBLKB Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 2 4 6 8

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6

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 16.00 indicates a correct valuation of BLKB.
Based on the Price/Earnings ratio, BLKB is valued cheaper than 86.52% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 27.45. BLKB is valued slightly cheaper when compared to this.
The Price/Forward Earnings ratio is 14.12, which indicates a correct valuation of BLKB.
Based on the Price/Forward Earnings ratio, BLKB is valued cheaply inside the industry as 87.23% of the companies are valued more expensively.
BLKB's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 21.90.
Industry RankSector Rank
PE 16
Fwd PE 14.12
BLKB Price Earnings VS Forward Price EarningsBLKB Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, BLKB is valued cheaply inside the industry as 85.46% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, BLKB is valued cheaply inside the industry as 83.33% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 19.31
EV/EBITDA 16.91
BLKB Per share dataBLKB EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 -10 20 -20

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
PEG (NY)2.87
PEG (5Y)1.26
EPS Next 2Y6.83%
EPS Next 3Y3.46%

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0

5. Dividend

5.1 Amount

No dividends for BLKB!.
Industry RankSector Rank
Dividend Yield N/A

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BLACKBAUD INC

NASDAQ:BLKB (7/3/2025, 7:05:14 PM)

After market: 65.75 0 (0%)

65.75

+0.81 (+1.25%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)04-30 2025-04-30/bmo
Earnings (Next)07-28 2025-07-28/amc
Inst Owners77.98%
Inst Owner Change0.93%
Ins Owners2.02%
Ins Owner Change9.23%
Market Cap3.19B
Analysts50
Price Target72.01 (9.52%)
Short Float %3.25%
Short Ratio4.23
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)2.26%
Min EPS beat(2)-0.35%
Max EPS beat(2)4.87%
EPS beat(4)2
Avg EPS beat(4)-0.61%
Min EPS beat(4)-8.95%
Max EPS beat(4)4.87%
EPS beat(8)6
Avg EPS beat(8)2.89%
EPS beat(12)10
Avg EPS beat(12)4.72%
EPS beat(16)13
Avg EPS beat(16)5.31%
Revenue beat(2)0
Avg Revenue beat(2)-1.75%
Min Revenue beat(2)-2.45%
Max Revenue beat(2)-1.05%
Revenue beat(4)0
Avg Revenue beat(4)-2.62%
Min Revenue beat(4)-4.32%
Max Revenue beat(4)-1.05%
Revenue beat(8)0
Avg Revenue beat(8)-2.63%
Revenue beat(12)0
Avg Revenue beat(12)-2.55%
Revenue beat(16)2
Avg Revenue beat(16)-1.71%
PT rev (1m)0%
PT rev (3m)-10.2%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-0.75%
EPS NY rev (1m)0%
EPS NY rev (3m)0.68%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.18%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 16
Fwd PE 14.12
P/S 2.78
P/FCF 19.31
P/OCF 13.71
P/B 96.16
P/tB N/A
EV/EBITDA 16.91
EPS(TTM)4.11
EY6.25%
EPS(NY)4.66
Fwd EY7.08%
FCF(TTM)3.4
FCFY5.18%
OCF(TTM)4.8
OCFY7.3%
SpS23.64
BVpS0.68
TBVpS-23.65
PEG (NY)2.87
PEG (5Y)1.26
Profitability
Industry RankSector Rank
ROA -13.49%
ROE -854.71%
ROCE 11.67%
ROIC 9.22%
ROICexc 9.51%
ROICexgc 558.47%
OM 12.6%
PM (TTM) N/A
GM 55.98%
FCFM 14.4%
ROA(3y)-4.27%
ROA(5y)-2.45%
ROE(3y)-68.43%
ROE(5y)-40.54%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3Y93.05%
ROICexc growth 5Y27.63%
OM growth 3Y55.49%
OM growth 5Y26.14%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y1.94%
GM growth 5Y0.66%
F-Score6
Asset Turnover0.55
Health
Industry RankSector Rank
Debt/Equity 35.64
Debt/FCF 7.3
Debt/EBITDA 4.59
Cap/Depr 59.64%
Cap/Sales 5.89%
Interest Coverage 250
Cash Conversion 90.28%
Profit Quality N/A
Current Ratio 0.73
Quick Ratio 0.73
Altman-Z 1.51
F-Score6
WACC10.67%
ROIC/WACC0.86
Cap/Depr(3y)61.08%
Cap/Depr(5y)64.81%
Cap/Sales(3y)6.11%
Cap/Sales(5y)6.37%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-1.44%
EPS 3Y10.43%
EPS 5Y12.74%
EPS Q2Q%3.23%
EPS Next Y5.58%
EPS Next 2Y6.83%
EPS Next 3Y3.46%
EPS Next 5Y8.34%
Revenue 1Y (TTM)2.14%
Revenue growth 3Y7.59%
Revenue growth 5Y5.12%
Sales Q2Q%-3.08%
Revenue Next Year-3.31%
Revenue Next 2Y0.3%
Revenue Next 3Y1.83%
Revenue Next 5Y2.94%
EBIT growth 1Y103.81%
EBIT growth 3Y67.3%
EBIT growth 5Y32.6%
EBIT Next Year23.25%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y25.44%
FCF growth 3Y12.31%
FCF growth 5Y13.01%
OCF growth 1Y15.67%
OCF growth 3Y11.47%
OCF growth 5Y10.15%