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BL (BlackLine) Piotroski F-Score : 8 (As of Jul. 15, 2025)


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What is BlackLine Piotroski F-Score?

Good Sign:

Piotroski F-Score is 8, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

BlackLine has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for BlackLine's Piotroski F-Score or its related term are showing as below:

BL' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 8
Current: 8

During the past 11 years, the highest Piotroski F-Score of BlackLine was 8. The lowest was 3. And the median was 5.


BlackLine Piotroski F-Score Historical Data

The historical data trend for BlackLine's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

BlackLine Piotroski F-Score Chart

BlackLine Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 4.00 3.00 6.00 8.00

BlackLine Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 7.00 8.00 8.00 8.00

Competitive Comparison of BlackLine's Piotroski F-Score

For the Software - Application subindustry, BlackLine's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


BlackLine's Piotroski F-Score Distribution in the Software Industry

For the Software industry and Technology sector, BlackLine's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where BlackLine's Piotroski F-Score falls into.


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How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar25) TTM:Last Year (Mar24) TTM:
Net Income was 76.69 + 17.238 + 56.417 + 6.055 = $156.4 Mil.
Cash Flow from Operations was 40.698 + 55.919 + 43.794 + 46.742 = $187.2 Mil.
Revenue was 160.506 + 165.909 + 169.46 + 166.931 = $662.8 Mil.
Gross Profit was 120.158 + 124.803 + 128.046 + 126.007 = $499.0 Mil.
Average Total Assets from the begining of this year (Mar24)
to the end of this year (Mar25) was
(2088.885 + 1890.682 + 1695.16 + 1825.036 + 1781.148) / 5 = $1856.1822 Mil.
Total Assets at the begining of this year (Mar24) was $2,088.9 Mil.
Long-Term Debt & Capital Lease Obligation was $688.8 Mil.
Total Current Assets was $1,043.4 Mil.
Total Current Liabilities was $630.3 Mil.
Net Income was 30.849 + 11.923 + 22.069 + 10.829 = $75.7 Mil.

Revenue was 144.574 + 150.708 + 155.73 + 157.461 = $608.5 Mil.
Gross Profit was 107.458 + 113.914 + 118.118 + 118.364 = $457.9 Mil.
Average Total Assets from the begining of last year (Mar23)
to the end of last year (Mar24) was
(1932.654 + 1975.366 + 2016.135 + 2100.765 + 2088.885) / 5 = $2022.761 Mil.
Total Assets at the begining of last year (Mar23) was $1,932.7 Mil.
Long-Term Debt & Capital Lease Obligation was $1,157.0 Mil.
Total Current Assets was $1,403.7 Mil.
Total Current Liabilities was $609.9 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

BlackLine's current Net Income (TTM) was 156.4. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

BlackLine's current Cash Flow from Operations (TTM) was 187.2. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar24)
=156.4/2088.885
=0.07487248

ROA (Last Year)=Net Income/Total Assets (Mar23)
=75.67/1932.654
=0.03915341

BlackLine's return on assets of this year was 0.07487248. BlackLine's return on assets of last year was 0.03915341. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

BlackLine's current Net Income (TTM) was 156.4. BlackLine's current Cash Flow from Operations (TTM) was 187.2. ==> 187.2 > 156.4 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=688.824/1856.1822
=0.37109719

Gearing (Last Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=1157.026/2022.761
=0.57200332

BlackLine's gearing of this year was 0.37109719. BlackLine's gearing of last year was 0.57200332. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Mar25)=Total Current Assets/Total Current Liabilities
=1043.353/630.292
=1.65534863

Current Ratio (Last Year: Mar24)=Total Current Assets/Total Current Liabilities
=1403.656/609.862
=2.3015961

BlackLine's current ratio of this year was 1.65534863. BlackLine's current ratio of last year was 2.3015961. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

BlackLine's number of shares in issue this year was 64.839. BlackLine's number of shares in issue last year was 72.893. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=499.014/662.806
=0.75288093

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=457.854/608.473
=0.75246395

BlackLine's gross margin of this year was 0.75288093. BlackLine's gross margin of last year was 0.75246395. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar24)
=662.806/2088.885
=0.31730134

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar23)
=608.473/1932.654
=0.31483804

BlackLine's asset turnover of this year was 0.31730134. BlackLine's asset turnover of last year was 0.31483804. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+1+0+1+1+1
=8

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

BlackLine has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

BlackLine  (NAS:BL) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


BlackLine Piotroski F-Score Related Terms

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BlackLine Business Description

Traded in Other Exchanges
Address
21300 Victory Boulevard, 12th Floor, Woodland Hills, CA, USA, 91367
BlackLine Inc is engaged in providing financial accounting close solutions delivered as Software as a Service (SaaS). The Company's solutions enable its customers to address various aspects of their critical processes, including financial close & consolidation, intercompany accounting, and invoice-to-cash. The majority of the revenue of the company is earned in the United States.
Executives
Mark Woodhams officer: Chief Revenue Officer 21300 VICTORY BLVD., 12TH FLOOR, WOODLAND HILLS CA 91367
Mika Yamamoto director 21300 VICTORY BLVD.,, 12TH FLOOR, WOODLAND HILLS CA 91367
Morgan Karole Prager officer: Chief Legal Officer & Sec'y C/O MCCLATCHY CO, 2100 Q STREET, SACRAMENTO CA 95816
Mark Partin officer: Chief Financial Officer 21300 VICTORY BLVD., 12TH FLOOR, WOODLAND HILLS CA 91367
Barbara Whye director 21300 VICTORY BLVD., 12TH FLOOR, WOODLAND HILLS CA 91367
Owen Ryan director C/O BLACKLINE INC, 21300 VICTORY BOULEVARD 12TH FLOOR, WOODLAND HILLS CA 91367
Kevin B Thompson director C/O RED HAT, INC, 1801 VARSITY DRIVE, RALEIGH NC 27606
Thomas Unterman director 21300 VICTORY BLVD., 12TH FLOOR, WOODLAND HILLS CA 91367
William Raymond Wagner director C/O VOCUS, INC., 4296 FORBES BOULEVARD, LANHAM MD 20706
Peter Hirsch officer: Chief Technology Officer C/O ELLIE MAE, INC., 4420 ROSEWOOD DRIVE, PLEASANTON CA 94588
Marc Huffman officer: Chief Operating Officer C/O NETSUITE INC., 2955 CAMPUS DRIVE, SUITE 100, SAN MATEO CA 94403
Brunilda Rios director C/O DELL TECHNOLOGIES INC., ONE DELL WAY, ROUND ROCK TX 78682
Amit Yoran director C/O TENABLE HOLDINGS, INC., 6100 MERRIWEATHER DRIVE, COLUMBIA MD 21044
Therese Tucker director, 10 percent owner, officer: Chief Executive Officer 21300 VICTORY BLVD., 12TH FLOOR, WOODLAND HILLS CA 91367
Graham Smith director 301 BRANNMAN ST, SAN FRANCISCO CA 94107