BL BlackLine Systems, Inc. · $30.29 Neutral — no clear edge中性 — 无明显优势 Terminal终端 ↗

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BlackLine Systems, Inc. · Tech

BL

$30.29
BlackLine Systems, Inc., is an American enterprise software company that develops cloud-based services designed to automate and manage the entire financial close process as well as consolidation, invoice-to-cash, and intercompany accounting. The Los Angeles–based company has 17 offices worldwide.黑线系统公司是一家美国企业软件公司，开发基于云的服务，旨在自动化和管理整个财务结算流程以及合并、发票到现金和公司间会计。这家总部位于洛杉矶的公司在全球设有17个办事处。
Distressed困境股 Small cap小盘 $2B
Engine stance引擎立场2026-07-20
Neutral — no clear edge中性 — 无明显优势
Daily low forming, but the bigger trend is still bearish. Small size only; stop below 25.88.日线低点正在形成，但大趋势仍偏空。只适合小仓位；止损设于 25.88 下方。
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Key Statistics关键统计

Price价格
$30.29
48.5% below 52-week high低于52周高点 48.5%
Market Cap市值
$2B
Normal volume正常成交量
P/E Ratio市盈率
74.0x
40.2x sector median
Beta贝塔
0.58
Moves about 0.6x the market波动幅度约为市场的 0.6 倍
RSI (14)RSI（14）
58
Neutral zone中性区域
Next Earnings下次财报
2026-08-04 (16d)
Volatility Rank波动率分位
54th pctile
hist. vol. percentile历史波动率分位数
Short Interest空头兴趣
12.1% of float

Performance价格表现

Period周期 BL S&P 500vs Index对比指数
1 Week近1周 +4.0% -1.5% Beat the index by 5.5 points跑赢指数 5.5 个百分点
1 Month近1月 +13.0% +0.6% Beat the index by 12.4 points跑赢指数 12.4 个百分点
3 Months近3月 -3.9% +4.7% Lagged the index by 8.6 points落后指数 8.6 个百分点
6 Months近6月 -42.5% +7.8% Lagged the index by 50.3 points落后指数 50.3 个百分点
Year to date年初至今 -43.7% +9.1% Lagged the index by 52.8 points落后指数 52.8 个百分点
1 Year近1年 -45.8% +19.4% Lagged the index by 65.2 points落后指数 65.2 个百分点
3 Years近3年 -46.9% +69.4% Lagged the index by 116.3 points落后指数 116.3 个百分点

Technicals技术面

RSI (14)RSI（14） 58 Neutral zone中性区域
vs 50-day相对50日均线 +6.1% vs 50-day avg
vs 200-day相对200日均线 -28.0% vs 200-day avg
Volatility rank波动率分位 54th percentile 分位
Engine reference levels — not advice引擎参考水平 — 非投资建议
Buy zone买入区间
$28.97
Don't chase above不追高于
$30.29
Stop止损
$25.88
Bounce — turn not confirmed; wait反弹 — 转向未确认，先观望

Earnings财务业绩

16
days until next report天后公布财报
2026-08-04

Estimates being raised — 12 analysts预期上调 — 12 位分析师

Earnings call transcripts — coming soon财报电话会议记录 — 即将上线

Valuation估值

Multiple指标 BL Sector median行业中位 Cheaper than相对便宜
P/E (trailing)市盈率（历史） 73.98x 40.17
27%
P/B市净率 5.46x 5.85
51%
P/S市销率 2.59x 4.85
72%
Earnings yield盈利收益率 1.35% 2.19
38%
FCF yield自由现金流收益率 8.90% 3.05
88%
Shareholder yield股东收益率 12.99% 2.16
95%
EV/EBITDA企业价值/EBITDA 19.75x 29.30
63%
P/FCF市值/自由现金流 11.23x 30.46
86%
Analyst price targets — coming soon分析师目标价 — 即将上线

Financials财务数据

Revenue营业收入
$351.7M
2020
$425.7M
2021
$522.9M
2022
$590.0M
2023
$653.3M
2024
$700.4M
2025
5yr CAGR5年复合增速: 14.8%
Earnings Per Share每股收益
$-0.83
2020
$-1.97
2021
$-0.49
2022
$0.81
2023
$1.45
2024
$0.39
2025
Free Cash Flow自由现金流
$48.2M
2020
$71.4M
2021
$45.0M
2022
$120.7M
2023
$188.7M
2024
$161.5M
2025
Margins利润率
Gross margin毛利率
75.2%
Operating margin营业利润率
3.6%
Net margin净利率
3.5%
FCF margin自由现金流利润率
24.2%
7.4%Return on Equity股本回报率
1.4%Return on Assets资产回报率
Leverage杠杆
Net debt / EBITDA净债务/EBITDA-5.41
Current ratio流动比率1.47
Capital Allocation资本配置
Buybacks (TTM)回购（TTM）$235.5M
Stock-based comp股权薪酬$92.6M
Share count change (1y)股数变化（1年）-4.7%
Piotroski皮奥特罗斯基 6/8 Altman Z阿尔特曼Z: distress (1.4) Watch关注

Snapshot Gauges综合指标

Valuation vs Sector估值相对行业
Looks cheap vs sector相对行业偏便宜
Cheaper than 60% of its sector on blended multiples综合估值倍数低于行业内 60% 的公司
Beta市场敏感度
0.58×
0.21×3×
Moves about 0.6× the market波动幅度约为市场的 0.6 倍
Financial Health财务健康
6/8
Altman阿尔特曼: distress
Adequate financial health财务健康状况一般
Dividend分红
—
Does not pay a dividend不派发股息

Why Is It Moving为何波动

Macro宏观 Rate risk runs through its market / growth beta, not a distinct duration leg.其利率风险通过市场／成长beta体现，并无独立的久期暴露。
Positioning持仓 Insider cluster activity内部人集中交易
Technical技术面 BOTTOMING → UPTREND筑底中 → 上涨趋势

Ownership & Smart Money持仓与聪明钱

Insider activity内部人员活动: -$0.1M net (0 buyers, 1 sellers)-$0.1M 净值（0 买家，1 卖家）
Concentrated ownership集中持仓
Fund基金 Grade评级 Activity动作 % of portfolio组合占比 As of截至
Engaged Capital B Adding加仓 16.7% 2026-03-31
Soros Fund Management B exitexit 0.0% 2026-03-31

Signal History信号历史

UPTREND → UNCONFIRMED TURN上涨趋势 → 未确认转向
HIGH-RISK · NIMBLE ONLY. A daily bottoming setup is forming (swing low in, momentum turned up) — but the higher timeframes haven't confirmed it: the bigger picture is still bearish (weekly momentum positive; investor cycle failed (broke its start low); investor cycle overdue). This is an UNCONFIRMED TURN, not a confirmed buy. Weekly confirmation lags price, so this exact reading covers BOTH bounces that fail AND the first leg of a genuine new cycle — you can't tell which in real time, so treat it as a risk/size signal, not a direction call. Measured: weekly-unconfirmed bottoming setups held the low ~49% of the time vs ~68% once the weekly turns up高风险 · 仅限灵活操作。正在形成日线筑底形态（摆动低点已现、动量转向上行）——但更高周期尚未确认：大局仍偏空（周线动量为正；投资者周期失败（跌破起始低点）；投资者周期已逾期）。这是「未确认转向」，并非已确认的买入。周线确认滞后于价格，因此同样的读数既涵盖最终失败的反弹，也涵盖真正新周期的第一段——实时无法判定属于哪一种，故应将其视为风险/仓位信号，而非方向判断。实测：周线未确认的筑底形态约 49% 守住低点，周线转向后升至约 68%
COUNTERTREND BOUNCE UNCONFIRMED TURN
Jul 10, 2026
BOTTOMING → UPTREND筑底中 → 上涨趋势
HOLD持有
Jul 7, 2026
UNCONFIRMED TURN → BOTTOMING未确认转向 → 筑底中
BUY SETUP买入预备
Jun 26, 2026
BL weekly MACD crossed upBL 周线MACD上穿
The weekly MACD histogram turned positive — the slower, less-whippy momentum read.周线MACD柱状图转正 — 更慢、更少来回的动量信号。
Jun 26, 2026
BL daily MACD crossed upBL 日线MACD上穿
The daily MACD histogram turned positive — fast and noisy, context rather than a standalone trigger. $28.34.日线MACD柱状图转正 — 快速且嘈杂，仅作背景。$28.34。
Jun 25, 2026
BL broke down vs the marketBL 相对市场走弱
Relative strength vs SPY crossed below the 10th percentile of the last 90 days — weakness often leads price. $26.50.相对标普500的强弱下穿近90日的第10百分位 — 走弱常先于价格。$26.50。
Jun 24, 2026
NEARING A LOW → UNCONFIRMED TURN接近低点 → 未确认转向
HIGH-RISK · NIMBLE ONLY高风险 · 仅限灵活操作
Jun 24, 2026
BL StochRSI turned up from oversoldBL StochRSI自超卖区上行
StochRSI popped back above 20 — the earliest oscillator heads-up that downside momentum is easing. $27.03.StochRSI重回20上方 — 下行动量趋缓的最早预警。$27.03。
Jun 23, 2026
TOPPING → NEARING A LOW做顶中 → 接近低点
GET READY准备
Jun 23, 2026
NEARING A LOW → UNCONFIRMED TURN接近低点 → 未确认转向
HIGH-RISK · NIMBLE ONLY高风险 · 仅限灵活操作
Jun 22, 2026
BL printed a daily-cycle lowBL 打出日线周期低点
A confirmed local low — in this cycle framework the highest-odds long-entry window. $25.88.一个已确认的局部低点 — 在本周期框架中做多胜率最高的入场窗口。$25.88。

Showing last 15 of显示最近15条，共 267 signals条信号

Factor Profile因子特征

Composite factor score综合因子得分: 0.35
Value价值
-0.6
Profitability盈利能力
-0.1
Quality质量
+0.4
Investment资本投入
+0.7
Shareholder payout股东回报
+2.3
Low volatility低波动
-0.6
Low market beta低市场敏感度
+0.3
Earnings quality盈利质量
+0.6
Short interest空头兴趣
-1.2

Company Profile公司档案

BlackLine Systems, Inc., is an American enterprise software company that develops cloud-based services designed to automate and manage the entire financial close process as well as consolidation, invoice-to-cash, and intercompany accounting. The Los Angeles–based company has 17 offices worldwide.黑线系统公司是一家美国企业软件公司，开发基于云的服务，旨在自动化和管理整个财务结算流程以及合并、发票到现金和公司间会计。这家总部位于洛杉矶的公司在全球设有17个办事处。
Watch items — what could change the thesis关注项 — 可能改变论点的因素
  • Receivables stretch
  • Capital intensity rising
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