Blackbaud Inc

Technology
Computer Software: Prepackaged Software
www.blackbaud.com

Earnings Score
Moat Score
Safety Score

Market Cap $3.94B
PE 74
Debt $1.03B
Cash $462.73M
EV $4.51B
FCF $211.36M

Earnings

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Sales & Net Margins

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Earnings	$52.99M
EBIT	$128.95M
ROE	10%
ROA	5%
FCF	$211.36M
Equity	$544.33M
Growth Stability	-538%
PE	74.44
PEG	17.43
PB	7.25
P/FCF	18.66
P/S	3.44
Price/Cash	0.12
Debt/Equity	1.89
Debt/FCF	4.86
Net Margins	6%
Gross Margins	55%
Op. Margins	11%
Earnings CAGR	-4%
Sales Growth YoY	3%
Sales Growth QoQ	-0%
Sales CAGR	6%
FCF CAGR	8%
Equity CAGR	16%
Earnings Stability	0.05
Earnings Growth YoY	128%
Earnings Growth QoQ	-6%

Earnings CAGR 5Y	4%
Sales CAGR 5Y	6%
FCF CAGR 5Y	9%
Equity CAGR 5Y	14%
Earnings CAGR 3Y	7%
Sales CAGR 3Y	7%
FCF CAGR 3Y	5%
Equity CAGR 3Y	-8%
Market Cap	$3.94B
Revenue	$1.15B
Assets	$2.60B
Total Debt	$1.03B
Cash	$462.73M
Shares Outstanding	50.41M
EV	4.51B
Earnings Score	6%
Moat Score	77%
Safety Score	49%
Final Score	44%
Working Capital	-306.65M
Current Ratio	0.68
Gross Profit	$634.02M
Shares Growth 3y	1%
Equity Growth QoQ	-6%
Equity Growth YoY	-32%

Assets & ROA

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Stockholders Equity & ROE

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Founded in 1981, Blackbaud provides a suite of software solutions targeted at the social good community, including nonprofits, foundations, corporations, education institutions, healthcare institutions, and individual activists. Through mergers, acquisitions, and organic product development, the company has also moved into related areas outside of core fundraising, notably into K-12 schools. Blackbaud enables more than $100 billion in donations annually across a customer base in excess of 40,000 customers in at least 50 countries.

SEC Filings

Direct access to Blackbaud Inc (BLKB) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Blackbaud Inc compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Blackbaud Inc compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -4%

Stability 5%

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Blackbaud Inc Discounted Cash Flow

Fully customizable DCF calculator online for Blackbaud Inc.

Years

Calculation mode

= $3.6B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$211M	$228M	$245M	$264M	$285M	$307M	$331M	$357M	$384M	$414M	$446M	$4.5B
DCF		$207M	$203M	$199M	$195M	$191M	$187M	$183M	$179M	$176M	$172M	$1.7B
Value	$3.6B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	5%	4%	6%	8%	5%	1%	1%	1%	-4%	0%	6%
ROA	-	4%	5%	4%	4%	2%	2%	1%	-1%	2%	5%
ROE	-	12%	17%	21%	12%	3%	2%	1%	-6%	0%	10%

Bad Net Margins (5.58%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	4.33	2.56	2.7	2.12	2.78	4.63	4.85	4.6	4.11	4.86
Debt over Equity	1.54	1.97	1.41	1.46	1.06	1.2	1.28	1.37	1.18	0.99	1.89
Growth Stability	-	-	-	100%	100%	23%	19%	27%	-538%	-	-538%

Bad Debt/FCF ratio (4.86)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Bad Debt/Equity ratio (1.89)

The company is overleveraged and has a bad balance between equity and debt.

Bad Graham’s Stability (-538%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	13%	15%	8%	8%	6%	1%	2%	14%	4%	6%
Earnings YoY growth	-	-9%	62%	59%	-32%	-73%	-35%	-26%	-897%	-104%	4%
Equity YoY growth	-	13%	18%	24%	22%	6%	7%	68%	4%	9%	14%
FCF YoY growth	-	8%	42%	22%	12%	-8%	-31%	71%	-5%	2%	9%