BLKBBLACKBAUD INC
Services-Prepackaged Software
- Revenue
- $1.1B
- 2.3% YoY
- Operating margin
- 16.9%
- 172% YoY
- EBITDA
- $277M
- 285% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 3.9×
- $1.1B net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear231% of net incomeCash flow under 80% of net income
- Dilutive SBCClear8% of revenueOver 10% of revenue
- Payouts exceed cash flowClear82% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyFired50% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $928M | $1.1B | $1.1B | $1.2B | $1.1B | 2.3% |
| Operating income | $25M | −$28M | $46M | −$271M | $191M | 170% |
| Net income | $6M | −$45M | $2M | −$283M | $115M | 141% |
| Operating cash flow | $214M | $204M | $200M | $296M | $266M | 10% |
| Capex | $12M | $12M | $5M | $7M | $8M | 4.4% |
| Stock-based comp | $120M | $110M | $128M | $105M | $93M | 11% |
| Buybacks | $108M | $0 | $19M | $418M | $217M | 48% |
| Dividends | $0 | $0 | — | — | — |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $1M · 9
- Net
- −$1M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $6M | $4M | 110 | 149 |
| FY2024 | $10M | $7M | 93 | 211 |
| FY2023 | $10M | $18M | 109 | 154 |
| FY2022 | $9M | $3M | 74 | 120 |
| FY2021 | $12M | $18M | 99 | 145 |