NASDAQ : BLKB
Blackbaud, Inc. — Financial statements
Technology · Software - Application · United States
Last price 52.71 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 2.34B
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Financial statements
Blackbaud, Inc. (BLKB) reported revenue of 1.16B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.16B | 1.13B | 1.15B | 1.11B | 1.06B | 927.74M |
| Cost of Revenue | 463.24M | 464.77M | 523.20M | 508.02M | 505.39M | 443.19M |
| Gross Profit | 696.40M | 663.59M | 631.43M | 599.05M | 552.72M | 484.55M |
| Selling, General & Admin | 340.06M | 303.17M | 294.72M | 343.07M | 359.44M | 325.46M |
| Research & Development | 141.76M | 138.13M | 153.68M | 147.47M | 156.91M | 124.57M |
| Amortization of Goodwill & Intangibles | 2.33M | 2.23M | 3.54M | 3.14M | 2.92M | 2.23M |
| Operating Expenses | 484.14M | 443.53M | 451.94M | 493.68M | 519.28M | 452.26M |
| Operating Income | 212.26M | 220.06M | 179.48M | 105.38M | 33.44M | 32.28M |
| Interest Expense | -65.56M | -67.97M | -55.63M | -39.92M | -35.80M | -18.00M |
| Interest & Investment Income | 7.75M | 7.89M | 9.85M | 8.82M | 1.75M | 392.00K |
| Currency Exchange Gain (Loss) | -872.00K | -2.85M | 487.00K | -36.00K | 4.63M | -1.64M |
| Other Non Operating Income (Expenses) | 2.63M | 3.95M | 4.22M | 4.08M | 2.33M | 1.43M |
| EBT Excluding Unusual Items | 156.20M | 161.09M | 138.40M | 78.32M | 6.35M | 14.46M |
| Merger & Restructuring Charges | 21.30M | -1.90M | -9.20M | -5.60M | -3.90M | -3.86M |
| Gain (Loss) on Sale of Assets | -405.36M | |||||
| Asset Writedown | -22.60M | -2.30M | -1.70M | |||
| Other Unusual Items | -1.00M | -27.40M | -13.70M | -53.43M | -57.61M | -40.56M |
| Pretax Income | 176.50M | 131.78M | -312.46M | 19.29M | -55.58M | 7.08M |
| Income Tax Expense | 27.24M | 16.81M | -12.94M | 16.27M | -10.17M | 1.39M |
| Net Income | 149.25M | 114.97M | -299.52M | 3.02M | -45.41M | 5.70M |
| Net Income to Common | 149.25M | 114.97M | -299.52M | 3.02M | -45.41M | 5.70M |
| Shares Outstanding (Basic) | 45.35M | 47.68M | 50.56M | 52.55M | 51.57M | 47.41M |
| Shares Outstanding (Diluted) | 45.93M | 48.47M | 50.56M | 53.72M | 51.57M | 48.23M |
| EPS (Basic) | 3.29 | 2.41 | -5.92 | 0.06 | -0.88 | 0.12 |
| EPS (Diluted) | 3.25 | 2.37 | -5.92 | 0.06 | -0.88 | 0.12 |
| Free Cash Flow | 331.97M | 257.78M | 288.53M | 194.95M | 191.60M | 202.00M |
| Free Cash Flow Per Share | 7.23 | 5.32 | 5.71 | 3.63 | 3.71 | 4.19 |
| Gross Margin | 60.05% | 58.81% | 54.69% | 54.11% | 52.24% | 52.23% |
| Operating Margin | 18.30% | 19.50% | 15.54% | 9.52% | 3.16% | 3.48% |
| Profit Margin | 12.87% | 10.19% | -25.94% | 0.27% | -4.29% | 0.61% |
| Free Cash Flow Margin | 28.63% | 22.85% | 24.99% | 17.61% | 18.11% | 21.77% |
| EBITDA | 250.12M | 259.97M | 252.85M | 172.07M | 99.01M | 83.69M |
| EBITDA Margin | 21.57% | 23.04% | 21.90% | 15.54% | 9.36% | 9.02% |
| D&A For EBITDA | 37.86M | 39.91M | 73.36M | 66.69M | 65.57M | 51.41M |
| EBIT | 212.26M | 220.06M | 179.48M | 105.38M | 33.44M | 32.28M |
| EBIT Margin | 18.30% | 19.50% | 15.54% | 9.52% | 3.16% | 3.48% |
| Effective Tax Rate | 15.44% | 12.76% | 84.36% | 19.55% | ||
| Revenue as Reported | 1.06B | 927.74M | ||||
| Advertising Expenses | 16.10M | 16.00M | 14.00M | 16.50M | 7.10M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 35.73M | 38.91M | 67.63M | 31.25M | 31.69M | 55.15M |
| Trading Asset Securities | 517.00K | 239.00K | 16.20M | |||
| Cash & Short-Term Investments | 36.25M | 39.15M | 67.63M | 47.45M | 31.69M | 55.15M |
| Receivables | 76.21M | 80.52M | 83.54M | 101.86M | 102.81M | 102.73M |
| Prepaid Expenses | 66.26M | 70.47M | 61.88M | 57.79M | 52.31M | 65.31M |
| Restricted Cash | 428.17M | 720.06M | 741.88M | 697.01M | 702.24M | |
| Other Current Assets | 23.20M | 19.89M | 21.66M | 25.65M | 29.60M | 627.79M |
| Total Current Assets | 630.10M | 930.09M | 976.59M | 929.76M | 918.64M | 850.97M |
| Property, Plant & Equipment | 83.83M | 89.71M | 118.48M | 135.62M | 153.32M | 165.31M |
| Long-Term Investments | 10.69M | 262.00K | 9.26M | 31.87M | 7.16M | |
| Goodwill | 1.06B | 1.06B | 1.05B | 1.05B | 1.05B | 1.06B |
| Other Intangible Assets | 246.46M | 262.50M | 281.20M | 742.13M | 776.16M | 819.43M |
| Long-Term Deferred Charges | 39.31M | 38.80M | 41.21M | 37.08M | 45.17M | 48.27M |
| Other Long-Term Assets | 40.52M | 12.51M | 16.75M | 13.96M | 17.26M | 21.84M |
| Total Assets | 2.11B | 2.39B | 2.50B | 2.91B | 2.99B | 2.97B |
| Accounts Payable | 38.40M | 27.34M | 50.81M | 25.18M | 42.56M | 22.07M |
| Accrued Expenses | 16.90M | 12.26M | 20.42M | 57.62M | 61.29M | 24.40M |
| Current Portion of Long-Term Debt | 22.65M | 22.66M | 23.88M | 19.26M | 18.80M | 18.70M |
| Current Portion of Leases | 2.50M | 1.56M | 4.49M | 6.70M | 7.72M | 9.17M |
| Current Income Taxes Payable | 10.64M | 9.95M | 16.30M | 16.67M | 19.78M | |
| Current Unearned Revenue | 380.99M | 368.99M | 358.55M | 392.53M | 382.42M | 374.50M |
| Other Current Liabilities | 451.71M | 739.34M | 777.62M | 695.84M | 701.18M | 641.02M |
| Total Current Liabilities | 923.80M | 1.18B | 1.25B | 1.20B | 1.23B | 1.11B |
| Long-Term Debt | 1.02B | 1.09B | 1.05B | 765.41M | 840.24M | 937.48M |
| Long-Term Leases | 4.52M | 4.61M | 34.19M | 40.09M | 44.92M | 53.39M |
| Long-Term Unearned Revenue | 3.67M | 2.78M | 2.02M | 2.40M | 2.82M | 4.25M |
| Long-Term Deferred Tax Liabilities | 25.10M | 21.98M | 25.00M | 93.29M | 125.76M | 148.47M |
| Other Long-Term Liabilities | 8.12M | 3.88M | 4.80M | 5.25M | 4.29M | 1.34M |
| Total Liabilities | 1.99B | 2.31B | 2.37B | 2.10B | 2.25B | 2.25B |
| Common Stock | 74.00K | 72.00K | 71.00K | 69.00K | 68.00K | 66.00K |
| Additional Paid-In Capital | 1.46B | 1.39B | 1.29B | 1.20B | 1.08B | 968.93M |
| Retained Earnings | 128.08M | 15.51M | -99.46M | 198.87M | 197.05M | 242.46M |
| Treasury Stock | -1.47B | -1.32B | -1.06B | -591.56M | -537.29M | -500.91M |
| Comprehensive Income & Other | 3.21M | -5.95M | -4.87M | -1.69M | 8.94M | 6.52M |
| Shareholders' Equity | 119.48M | 85.05M | 126.84M | 808.71M | 744.03M | 717.06M |
| Total Liabilities & Equity | 2.11B | 2.39B | 2.50B | 2.91B | 2.99B | 2.97B |
| Total Debt | 1.05B | 1.12B | 1.11B | 831.45M | 911.68M | 1.02B |
| Net Cash (Debt) | -1.02B | -1.08B | -1.05B | -784.00M | -879.99M | -963.59M |
| Net Cash Per Share | -22.11 | -22.28 | -20.69 | -14.59 | -17.06 | -19.98 |
| Filing Date Shares Outstanding | 44.31M | 45.26M | 48.42M | 52.37M | 51.87M | 50.77M |
| Total Common Shares Outstanding | 44.43M | 46.03M | 48.43M | 52.52M | 51.72M | 50.79M |
| Working Capital | -293.70M | -252.00M | -275.46M | -267.38M | -312.00M | -258.66M |
| Book Value Per Share | 2.69 | 1.85 | 2.62 | 15.40 | 14.38 | 14.12 |
| Tangible Book Value | -1.18B | -1.23B | -1.21B | -987.16M | -1.08B | -1.16B |
| Tangible Book Value Per Share | -26.62 | -26.81 | -24.92 | -18.79 | -20.93 | -22.86 |
| Land | 9.55M | 9.55M | 9.55M | 9.55M | 9.55M | |
| Buildings | 74.38M | 73.40M | 73.00M | 72.16M | 72.16M | |
| Machinery | 33.49M | 43.93M | 55.90M | 53.46M | 52.75M | |
| Construction In Progress | 273.00K | 1.61M | 3.50M | 2.13M | ||
| Leasehold Improvements | 5.79M | 10.21M | 10.35M | 11.82M | 12.09M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 149.25M | 114.97M | -299.52M | 3.02M | -45.41M | 5.70M |
| Depreciation & Amortization | 37.86M | 39.91M | 73.36M | 66.69M | 65.57M | 51.41M |
| Other Amortization | 48.70M | 48.78M | 50.84M | 44.58M | 39.16M | 32.57M |
| Loss (Gain) From Sale of Assets | 407.05M | |||||
| Stock-Based Compensation | 89.51M | 92.91M | 104.97M | 127.76M | 110.29M | 120.38M |
| Provision & Write-off of Bad Debts | 5.66M | 4.38M | 4.93M | 4.50M | 6.07M | 11.45M |
| Other Operating Activities | 22.71M | -5.36M | -67.07M | -19.34M | -20.97M | 8.06M |
| Change in Accounts Receivable | 667.00K | -938.00K | 4.73M | -3.24M | -7.34M | -6.53M |
| Change in Accounts Payable | -8.55M | -23.54M | 28.34M | -18.58M | 21.61M | -9.67M |
| Change in Unearned Revenue | -325.00K | 9.74M | -1.86M | 7.21M | 11.06M | 10.53M |
| Change in Other Net Operating Assets | -3.23M | -15.31M | -9.80M | -12.96M | 23.85M | -10.24M |
| Operating Cash Flow | 342.25M | 265.55M | 295.97M | 199.63M | 203.89M | 213.66M |
| Capital Expenditures | -10.28M | -7.77M | -7.44M | -4.68M | -12.29M | -11.66M |
| Cash Acquisitions | -700.00K | -700.00K | -13.00K | -20.91M | -419.12M | |
| Divestitures | -12.23M | -1.18M | 6.43M | |||
| Sale (Purchase) of Intangibles | -52.60M | -54.24M | -59.76M | -59.44M | -58.77M | -40.49M |
| Other Investing Activities | -8.68M | -5.03M | -250.00K | |||
| Investing Cash Flow | -72.26M | -74.94M | -73.41M | -64.39M | -85.55M | -471.27M |
| Long-Term Debt Issued | 404.50M | 1.44B | 293.20M | 211.00M | 582.20M | |
| Long-Term Debt Repaid | -369.78M | -1.14B | -374.60M | -310.74M | -152.97M | |
| Net Debt Issued (Repaid) | -32.42M | 34.72M | 296.69M | -81.39M | -99.74M | 429.23M |
| Repurchase of Common Stock | -240.18M | -257.56M | -474.86M | -54.70M | -36.38M | -147.82M |
| Other Financing Activities | 9.52M | -24.56M | 38.82M | -6.87M | 110.43M | -17.30M |
| Financing Cash Flow | -263.08M | -247.40M | -139.35M | -142.97M | -25.69M | 264.11M |
| Foreign Exchange Rate Adjustments | -457.00K | 6.25M | -1.96M | 2.05M | -10.49M | 297.00K |
| Net Cash Flow | 6.46M | -50.54M | 81.25M | -5.67M | 82.17M | 6.79M |
| Free Cash Flow | 331.97M | 257.78M | 288.53M | 194.95M | 191.60M | 202.00M |
| Free Cash Flow Margin | 28.63% | 22.85% | 24.99% | 17.61% | 18.11% | 21.77% |
| Free Cash Flow Per Share | 7.23 | 5.32 | 5.71 | 3.63 | 3.71 | 4.19 |
| Levered Free Cash Flow | 204.64M | 166.87M | 265.23M | 187.51M | 173.71M | 241.88M |
| Unlevered Free Cash Flow | 243.21M | 206.87M | 297.47M | 210.69M | 193.72M | 251.56M |
| Cash Interest Paid | 65.60M | 65.60M | 51.88M | 38.05M | 33.37M | 16.39M |
| Cash Income Tax Paid | 28.14M | 28.14M | 60.67M | 35.62M | 9.67M | 10.07M |
| Change in Working Capital | -11.44M | -30.05M | 21.41M | -27.56M | 49.17M | -15.91M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.37B | 2.98B | 3.67B | 4.55B | 3.06B | 3.70B |
| Enterprise Value | 3.39B | 4.01B | 4.68B | 5.31B | 3.93B | 4.22B |
| Last Close Price | 53.55 | 63.32 | 73.92 | 86.70 | 58.86 | 78.98 |
| PE Ratio | 16.48 | 25.90 | 1,508.40 | 650.07 | ||
| Forward PE | 9.26 | 13.06 | 16.56 | 20.11 | 19.70 | 26.90 |
| PS Ratio | 2.05 | 2.64 | 3.18 | 4.11 | 2.89 | 3.99 |
| PB Ratio | 19.91 | 35.01 | 28.91 | 5.63 | 4.11 | 5.17 |
| P/FCF Ratio | 7.15 | 11.55 | 12.71 | 23.35 | 15.95 | 18.34 |
| P/OCF Ratio | 6.93 | 11.21 | 12.39 | 22.80 | 14.98 | 17.34 |
| PEG Ratio | 1.66 | 1.82 | 0.86 | 4.91 | 8.97 | |
| EV/Sales Ratio | 2.92 | 3.56 | 4.05 | 4.80 | 3.72 | 4.55 |
| EV/EBITDA Ratio | 13.55 | 15.44 | 18.50 | 30.88 | 39.72 | 50.48 |
| EV/EBIT Ratio | 15.96 | 18.24 | 26.06 | 50.41 | 117.60 | 130.85 |
| EV/FCF Ratio | 10.21 | 15.57 | 16.21 | 27.25 | 20.52 | 20.91 |
| Debt / Equity Ratio | 8.80 | 13.16 | 8.78 | 1.03 | 1.23 | 1.42 |
| Debt / EBITDA Ratio | 4.19 | 4.29 | 4.33 | 4.65 | 8.49 | 10.80 |
| Debt / FCF Ratio | 3.17 | 4.34 | 3.86 | 4.26 | 4.76 | 5.04 |
| Net Debt / Equity Ratio | 8.50 | 12.70 | 8.25 | 0.97 | 1.18 | 1.34 |
| Net Debt / EBITDA Ratio | 4.06 | 4.15 | 4.14 | 4.56 | 8.89 | 11.51 |
| Net Debt / FCF Ratio | 3.06 | 4.19 | 3.62 | 4.02 | 4.59 | 4.77 |
| Asset Turnover | 0.55 | 0.46 | 0.43 | 0.38 | 0.35 | 0.37 |
| Quick Ratio | 0.12 | 0.10 | 0.12 | 0.12 | 0.11 | 0.14 |
| Current Ratio | 0.68 | 0.79 | 0.78 | 0.78 | 0.75 | 0.77 |
| Return on Equity (ROE) | 131.11% | 108.52% | -64.03% | 0.39% | -6.21% | 1.00% |
| Return on Assets (ROA) | 6.30% | 5.63% | 4.15% | 2.23% | 0.70% | 0.80% |
| Return on Invested Capital (ROIC) | 15.44% | 16.42% | 12.98% | 1.03% | 2.02% | 1.97% |
| Return on Capital Employed (ROCE) | 17.90% | 18.20% | 14.40% | 6.10% | 1.90% | 1.70% |
| Earnings Yield | 6.07% | 3.86% | -8.17% | 0.07% | -1.49% | 0.15% |
| FCF Yield | 13.99% | 8.66% | 7.87% | 4.28% | 6.27% | 5.45% |
| Buyback Yield / Dilution | 4.78% | 4.13% | 5.88% | -4.17% | -6.92% | 0.96% |
| Total Shareholder Return | 4.78% | 4.13% | 5.88% | -4.17% | -6.92% | 0.96% |