Black Knight, Inc. Stock Research

Market Summary

USD54.58-0.32

Market Closed

-0.58%

BKI Alerts

Big fall in earnings (Y/Y)

BKI Stock Price

BKI RSI Chart

BKI Valuation

Market Cap

8.5B

Price/Earnings (Trailing)

18.81

Price/Sales (Trailing)

5.48

EV/EBITDA

19.55

Price/Free Cashflow

37.91

BKI Price/Sales (Trailing)

BKI Profitability

EBT Margin

10.68%

Return on Equity

17.58%

Return on Assets

7.76%

Free Cashflow Yield

2.64%

BKI Fundamentals

BKI Revenue

Revenue (TTM)

1.6B

Revenue Y/Y

-0.7%

Revenue Q/Q

-0.83%

BKI Earnings

Earnings (TTM)

452.5M

Earnings Y/Y

-71%

Earnings Q/Q

-41.33%

Price Action

52 Week Range

53.8579.78

(Low)(High)

Last 7 days

-2.0%

Last 30 days

-14.5%

Last 90 days

-8.0%

Trailing 12 Months

-6.8%

BKI Financial Health

Current Ratio

1.27

BKI Investor Care

Shares Dilution (1Y)

0.37%

Diluted EPS (TTM)

2.91

Peers (Alternatives to Black Knight)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
ADP	88.7B	17.2B	-3.95%	-0.83%	28.2	5.14	9.88%	14.66%
FISV	72.0B	17.7B	-0.51%	14.00%	28.45	4.06	9.31%	89.66%
SQ	36.0B	17.5B	-16.81%	-55.07%	-66.51	2.05	-0.73%	-425.19%
CTSH	29.9B	19.4B	-8.99%	-34.89%	13.04	1.54	4.98%	7.16%
VRSN	21.3B	1.4B	-0.56%	-6.15%	31.55	14.92	7.33%	-14.14%
MID-CAP
CACI	6.8B	6.5B	-4.16%	-5.86%	18.54	1.04	6.38%	-16.32%
SAIC	5.7B	7.5B	-3.66%	14.73%	21.13	0.76	2.58%	-9.12%
DXC	5.4B	14.8B	-16.75%	-28.72%	7.49	0.36	-10.79%	217.70%
SMALL-CAP
FSLY	2.0B	432.7M	7.80%	-8.92%	-10.45	4.61	22.12%	14.33%
CSGS	1.6B	1.1B	-11.65%	-15.25%	36.85	1.49	4.13%	-39.09%
SABR	1.2B	2.5B	-25.49%	-64.49%	-2.87	0.49	50.22%	53.10%
TCX	268.2M	321.1M	-3.32%	-64.51%	-9.73	0.84	5.52%	-919.59%
UIS	233.2M	2.0B	-35.82%	-84.29%	-2.2	0.12	-3.63%	76.37%
INOD	203.6M	79.0M	13.44%	-0.93%	-17.06	2.58	13.25%	-613.39%
BCOV	181.3K	211.0M	-33.64%	-43.90%	-0.02	9e-4	-0.04%	-267.04%

Financials for Black Knight

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-0.2%	1,552	1,555	1,546	1,513	1,475
Operating Expenses	2.2%	1,274	1,246	1,223	1,197	1,172
EBITDA	-10.7%	435	487	516	511	-
EBITDA Margin	-10.5%	0.28*	0.31*	0.33*	0.34*	-
Earnings Before Taxes	-20.0%	166	207	231	227	213
EBT Margin	-19.9%	0.11*	0.13*	0.15*	0.15*	-
Interest Expenses	-10.4%	-100	-91.10	-86.10	-84.40	-83.60
Net Income	-8.7%	453	496	519	518	208
Net Income Margin	-8.5%	0.29*	0.32*	0.34*	0.34*	-
Free Cahsflow	-19.3%	225	278	312	428	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	-0.1%	5,832	5,838	5,929	5,943	6,351
Current Assets	14.9%	344	299	345	307	352
Cash Equivalents	-24.2%	12.00	16.00	38.00	28.00	77.00
Net PPE	-2.5%	143	147	147	151	155
Goodwill	-1.8%	3,748	3,817	3,817	3,817	3,817
Liabilities	-1.1%	3,211	3,246	3,381	3,452	3,072
Current Liabilities	4.0%	271	261	284	366	265
LT Debt, Current	0%	34.00	34.00	34.00	34.00	33.00
LT Debt, Non Current	-1.0%	2,622	2,649	2,737	2,697	2,363
Shareholder's Equity	0.9%	2,573	2,549	2,500	2,451	2,090
Retained Earnings	1.3%	1,417	1,399	1,368	1,327	968
Additional Paid-In Capital	0.8%	1,398	1,387	1,368	1,365	1,411
Accumulated Depreciation	-	226	-	-	-	-
Shares Outstanding	-0.1%	156	156	156	156	155

* denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-18.9%	252	310	341	458	450
Share Based Compensation	18.1%	55.00	47.00	43.00	43.00	42.00
Cashflow From Investing	2.3%	-124	-127	-372	-397	-429
Cashflow From Financing	21.5%	-192	-245	-18.30	-77.60	22.00
Buy Backs	NaN%	0.00	0.00	100	100	147

Risks for BKI

What is the probability of a big loss on BKI?

70.4%

Probability that Black Knight stock will be more than 20% underwater in next one year

36.1%

Probability that Black Knight stock will be more than 30% underwater in next one year.

Probability that Black Knight stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does BKI drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Black Knight was unfortunately bought at previous high price.

Drawdowns

Returns for BKI

Cumulative Returns on BKI

3.4%

5-Year Cumulative Returns

-0.2%

3-Year Cumulative Returns

What are the long-term rolling returns for BKI?

FIve years rolling returns for Black Knight.

Annualized Returns

Which funds bought or sold BKI recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-15	B. Riley Wealth Advisors, Inc.	sold off	-100	-252,000	-	-%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-0.05	-52,258	1,060,740	-%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-13.49	-17,000	82,000	-%
2023-02-28	Voya Investment Management LLC	reduced	-0.58	-82,386	1,508,610	-%
2023-02-24	NATIXIS	reduced	-15.08	-7,602,960	32,343,000	0.18%
2023-02-24	SRS Capital Advisors, Inc.	reduced	-5.82	-27,004	236,996	0.03%
2023-02-24	National Pension Service	unchanged	-	-121	1,914	-%
2023-02-21	MACQUARIE GROUP LTD	reduced	-20.52	-1,047,640	3,286,360	-%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	added	11.24	1,340	18,340	-%
2023-02-17	TRUIST FINANCIAL CORP	reduced	-13.03	-202,186	982,814	-%

Latest Funds Activity

Are funds buying BKI calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own BKI

No. of Funds

BKI Alerts

Big fall in earnings (Y/Y)

Black Knight News

Schedule 13G FIlings of Black Knight

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 15, 2023	principal global investors	4.18%	6,526,419	SC 13G/A
Feb 14, 2023	t. rowe price investment management, inc.	8.9%	13,813,507	SC 13G
Feb 09, 2023	vanguard group inc	9.05%	14,119,015	SC 13G/A
Feb 08, 2023	massachusetts financial services co /ma/	7.9%	12,322,028	SC 13G
Feb 03, 2023	blackrock inc.	7.4%	11,534,993	SC 13G/A
Nov 10, 2022	price t rowe associates inc /md/	3.3%	5,172,716	SC 13G/A
Feb 15, 2022	principal global investors	5.57%	8,655,085	SC 13G/A
Feb 14, 2022	price t rowe associates inc /md/	12.4%	19,287,830	SC 13G/A
Feb 09, 2022	vanguard group inc	8.88%	13,796,324	SC 13G/A
Feb 09, 2022	fmr llc	-	0	SC 13G/A

BKI Fair Value

Black Knight fair value in different scenarios

The table shows the Fair Value estimates for Black Knight for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	39.17 -28.23%	47.65 -12.70%	60.84 11.47%	79.64 45.91%	94.14 72.48%
Current Inflation	36.09 -33.88%	43.28 -20.70%	54.23 -0.64%	69.96 28.18%	82.03 50.29%
Very High Inflation	32.30 -40.82%	38.00 -30.38%	46.44 -14.91%	58.74 7.62%	68.11 24.79%

Historical Black Knight Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Black Knight

View All Filings

Date Filed	Form Type	Document
Mar 24, 2023	10-K/A	Annual Report
Mar 14, 2023	4	Insider Trading
Mar 14, 2023	4	Insider Trading
Mar 14, 2023	4	Insider Trading
Mar 14, 2023	4	Insider Trading
Mar 10, 2023	425	Prospectus Filed
Mar 09, 2023	425	Prospectus Filed
Mar 09, 2023	8-K	Current Report
Mar 07, 2023	425	Prospectus Filed
Mar 07, 2023	425	Prospectus Filed

Latest Insider Trading transactions for BKI

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-13	Gravelle Michael L	acquired	-	-	13,463	general counsel
2023-03-13	LARSEN KIRK T	acquired	-	-	69,557	president and cfo
2023-03-13	Jabbour Anthony M	acquired	-	-	134,626	-
2023-03-13	Nackashi Joseph M	acquired	-	-	107,701	chief executive officer
2023-03-10	LARSEN KIRK T	sold (taxes)	-676,940	56.52	-11,977	president and cfo
2023-03-10	Gravelle Michael L	sold (taxes)	-101,001	56.52	-1,787	general counsel
2023-03-10	Nackashi Joseph M	sold (taxes)	-795,236	56.52	-14,070	chief executive officer
2023-02-28	Nackashi Joseph M	sold (taxes)	-227,553	59.6	-3,818	chief executive officer
2023-02-28	Gravelle Michael L	sold (taxes)	-50,362	59.6	-845	general counsel
2023-02-28	LARSEN KIRK T	sold (taxes)	-196,859	59.6	-3,303	president and cfo

About Black Knight

Joseph M. Nackashi

https://www.blackknightinc.com

6400

Black Knight, Inc. provides integrated software, data, and analytics solutions in North America and Internationally. The Software Solutions segment offers software and hosting solutions comprising MSP, a software as a service application platform for mortgage, home equity loans, and lines of credit; Servicing Digital, a web and mobile solution for consumers that provides easy access to customized timely information about their mortgages; Loss Mitigation, an integrated solution that supports retention and liquidation workouts; and Empower, a loan origination system used by lenders to originate mortgages, home equity loans, and HELOCs. This segment also provides LoanCatcher, a cloud-based loan origination system designed for the needs of brokers; and LoanSifter PPE designed to meet the needs of the broker community by providing access to investors and loan products. The Data and Analytics segment offers property ownership data, lien data, servicing data, automated valuation models, collateral risk scores, behavioral models, lead generation, multiple listing service, and other data solutions. The company was formerly known as Black Knight Financial Services, Inc. and changed its name to Black Knight, Inc. in October 2017. Black Knight, Inc. was founded in 2013 and is headquartered in Jacksonville, Florida.

BKI Income Statement

2022-12-31

Consolidated Statements of Earnings and Comprehensive Earnings - USD ($)
shares in Millions, $ in Millions

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Consolidated Statements of Earnings and Comprehensive Earnings

Revenues

$ 1,551.9

$ 1,475.2

$ 1,238.5

Expenses:

Operating expenses

872.3

793.9

669.6

Depreciation and amortization

369.6

365.0

270.7

Transition and integration costs

31.8

13.3

31.4

Total expenses

1,273.7

1,172.2

971.7

Operating income

278.2

303.0

266.8

Other income and expense:

Interest expense, net

(100.6)

(83.6)

(62.9)

Other (expense) income, net

(11.9)

(6.4)

16.4

Total other expense, net

(112.5)

(90.0)

(46.5)

Earnings before income taxes and equity in earnings of unconsolidated affiliates

165.7

213.0

220.3

Income tax expense

22.4

35.7

41.6

Earnings before equity in earnings of unconsolidated affiliates

143.3

177.3

178.7

Equity in earnings of unconsolidated affiliates, net of tax

306.7

2.6

67.1

Net earnings

450.0

179.9

245.8

Net losses attributable to redeemable noncontrolling interests

2.5

28.0

18.3

Net earnings attributable to Black Knight

452.5

207.9

264.1

Other comprehensive earnings (losses):

Unrealized holding gains (losses), net of tax(1)

^[1]

8.2

1.7

(23.9)

Reclassification adjustments for losses included in net earnings, net of tax(2)

^[2]

4.5

15.3

12.2

Total unrealized gains (losses) on interest rate swaps, net of tax

12.7

17.0

(11.7)

Foreign currency translation adjustment, net of tax (3)

^[3]

(1.2)

(0.4)

(0.1)

Unrealized (losses) gains on investments in unconsolidated affiliates, net of tax(4)

^[4]

(0.3)

4.7

(6.8)

Other comprehensive earnings (loss)

11.2

21.3

(18.6)

Comprehensive earnings

461.2

201.2

227.2

Net losses attributable to redeemable noncontrolling interests

2.5

28.0

18.3

Comprehensive earnings attributable to Black Knight

$ 463.7

$ 229.2

$ 245.5

Net earnings per share attributable to Black Knight common shareholders:

Basic

$ 2.93

$ 1.34

$ 1.74

Diluted

$ 2.91

$ 1.33

$ 1.73

Weighted average shares of common stock outstanding (see Note 5):

Basic

154.4

155.1

152.0

Diluted

155.6

155.8

152.9

[1]	Net of income tax expense of $2.8 million and $0.6 million and income tax benefit of $8.1 million for the years ended December 31, 2022, 2021 and 2020, respectively.
[2]	Amounts reclassified to net earnings relate to losses on interest rate swaps and are included in Interest expense, net above. Amounts are net of income tax benefit of $1.6 million, $5.2 million and $4.1 million for the years ended December 31, 2022, 2021 and 2020, respectively.
[3]	Net of income tax benefit of $0.4 million for the year ended December 31, 2022 and less than $0.1 million for the years ended December 31, 2021 and 2020.
[4]	Net of income tax benefit of $0.1 million, income tax expense of $1.6 million and income tax benefit of $2.3 million for the years ended December 31, 2022, 2021 and 2020, respectively

BKI Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 12.2	$ 77.1
Trade receivables, net	193.5	191.8
Prepaid expenses and other current assets	132.1	83.0
Receivables from related parties	0.1	0.2
Current assets held for sale	5.8	0.0
Total current assets	343.7	352.1
Property and equipment, net	143.0	154.5
Software, net	443.7	497.0
Other intangible assets, net	470.1	613.2
Goodwill	3,747.8	3,817.3
Investments in unconsolidated affiliates	171.0	490.5
Deferred contract costs, net	192.6	196.0
Other non-current assets	246.2	230.3
Non-current assets held for sale	73.5	0.0
Total assets	5,831.6	6,350.9
Current liabilities:
Trade accounts payable and other accrued liabilities	66.5	64.5
Income taxes payable	28.4	11.8
Accrued compensation and benefits	82.8	91.4
Current portion of debt	33.6	32.5
Deferred revenues	59.9	64.6
Total current liabilities	271.2	264.8
Deferred revenues	42.4	81.5
Deferred income taxes	227.5	284.1
Long-term debt, net of current portion	2,621.7	2,362.6
Other non-current liabilities	47.9	78.7
Total liabilities	3,210.7	3,071.7
Commitments and contingencies (Note 13)
Redeemable noncontrolling interests	47.6	1,188.8
Equity:
Common stock; $0.0001 par value; 550,000,000 shares authorized; 160,040,598 shares issued and 155,930,399 shares outstanding as of December 31, 2022, and 160,040,598 shares issued and 155,357,705 shares outstanding as of December 31, 2021	0.0	0.0
Preferred stock; $0.0001 par value; 25,000,000 shares authorized; issued and outstanding, none as of December 31, 2022 and December 31, 2021	0.0	0.0
Additional paid-in capital	1,398.2	1,410.9
Retained earnings	1,417.1	968.2
Accumulated other comprehensive loss	(6.3)	(17.5)
Treasury stock, at cost, 4,110,199 shares as of December 31, 2022 and 4,682,893 shares as of December 31, 2021	(235.7)	(271.2)
Total shareholders' equity	2,573.3	2,090.4
Total liabilities, redeemable noncontrolling interests and shareholders' equity	$ 5,831.6	$ 6,350.9