BL - Blackline Inc Stock Price, Fair Value and News

58.67USD-1.01 (-1.69%)Market Closed

Market Summary

USD58.67-1.01

Market Closed

-1.69%

BL Alerts

2 major insider sales recently.

BL Stock Price

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BL RSI Chart

BL Valuation

Market Cap

3.6B

Price/Earnings (Trailing)

68.32

Price/Sales (Trailing)

6.12

EV/EBITDA

38.44

Price/Free Cashflow

29.91

BL Price/Sales (Trailing)

BL Profitability

Operating Margin

92.56%

EBT Margin

10.26%

Return on Equity

20.25%

Return on Assets

2.51%

Free Cashflow Yield

3.34%

BL Fundamentals

BL Revenue

Revenue (TTM)

590.0M

Rev. Growth (Yr)

11.27%

Rev. Growth (Qtr)

3.33%

BL Earnings

Earnings (TTM)

52.8M

Earnings Growth (Yr)

95.23%

Earnings Growth (Qtr)

85.1%

Breaking Down BL Revenue

Last 7 days

-8.6%

Last 30 days

-8.3%

Last 90 days

0.2%

Trailing 12 Months

-6.8%

How does BL drawdown profile look like?

BL Financial Health

Current Ratio

2.19

Debt/Equity

4.37

Debt/Cashflow

0.11

BL Investor Care

Shares Dilution (1Y)

2.45%

Diluted EPS (TTM)

0.79

Historical Charts for Stock Metrics

Get all data in R, Python etc through our Historical Stock Data APIs

Net sales

Year	Q1	Q2	Q3	Q4
2023	541.7M	557.8M	574.2M	590.0M
2022	447.1M	473.4M	498.3M	522.9M
2021	368.0M	386.8M	406.1M	425.7M
2020	307.4M	321.1M	336.3M	351.7M
2019	240.6M	254.8M	271.0M	289.0M
2018	188.7M	202.2M	215.5M	227.8M
2017	134.7M	147.7M	160.9M	175.6M
2016	92.1M	101.7M	112.3M	123.1M
2015	59.7M	67.6M	75.6M	83.6M
2014	0	0	0	51.7M

Get all data in R, Python etc through our Historical Stock Data APIs

Tracking the Latest Insider Buys and Sells of Blackline Inc

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
Mar 17, 2024	villanova patrick	acquired	-	-	8,880	chief accounting officer
Mar 17, 2024	ryan owen	acquired	-	-	63,390	(co-ceo)
Mar 17, 2024	partin mark	acquired	-	-	43,100	chief financial officer
Mar 17, 2024	tucker therese	acquired	-	-	63,390	(co-ceo)
Mar 17, 2024	woodhams mark	acquired	-	-	23,840	chief revenue officer
Mar 17, 2024	morgan-prager karole	acquired	-	-	26,200	chief legal and administrative
Mar 15, 2024	drummond camille	acquired	-	-	470	-
Feb 29, 2024	thompson kevin b	sold	-258,750	57.5	-4,500	-
Feb 21, 2024	woodhams mark	sold	-180,129	56.15	-3,208	chief revenue officer

Which funds bought or sold BL recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
Apr 16, 2024	Overbrook Management Corp	new	-	275,434	275,434	0.07%
Apr 16, 2024	Stratos Wealth Partners, LTD.	reduced	-49.07	-329,637	366,944	0.01%
Apr 15, 2024	OLD NATIONAL BANCORP /IN/	sold off	-100	-202,118	-	-%
Apr 15, 2024	Chicago Capital, LLC	reduced	-93.03	-26,983,600	2,096,880	0.06%
Apr 15, 2024	Sunbelt Securities, Inc.	sold off	-100	-8,929	-	-%
Apr 12, 2024	AdvisorNet Financial, Inc	new	-	969	969	-%
Apr 12, 2024	HARBOR INVESTMENT ADVISORY, LLC	unchanged	-	2,580	77,883	0.01%
Apr 12, 2024	Evanson Asset Management, LLC	unchanged	-	15,729	474,663	0.04%
Apr 11, 2024	DHJJ Financial Advisors, Ltd.	unchanged	-	334	10,075	-%
Apr 11, 2024	Rheos Capital Works Inc.	sold off	-100	-2,729,000	-	-%

Are Funds Buying or Selling BL?

Are funds buying BL calls or puts?

Calls

Puts

No. of funds holding Calls - Puts

Net Call Options

No. of funds that own BL

No. of Funds

BL Alerts

2 major insider sales recently.

Unveiling Blackline Inc's Major ShareHolders

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Apr 05, 2024	blackrock inc.	13.7%	8,467,351	SC 13G/A
Feb 13, 2024	tucker therese	8.0%	4,857,172	SC 13G/A
Feb 13, 2024	vanguard group inc	11.00%	6,737,888	SC 13G/A
Feb 09, 2024	fmr llc	-	0	SC 13G
Jan 26, 2024	blackrock inc.	7.9%	4,842,715	SC 13G/A
Jul 10, 2023	vanguard group inc	10.38%	6,277,625	SC 13G/A
Feb 14, 2023	clearlake capital group, l.p.	9.6%	5,712,300	SC 13G
Feb 14, 2023	tucker therese	7.9%	4,750,294	SC 13G/A
Feb 14, 2023	kayne anderson rudnick investment management llc	3.69%	2,203,641	SC 13G/A
Feb 09, 2023	vanguard group inc	8.92%	5,332,091	SC 13G/A

Recent SEC filings of Blackline Inc

View All Filings

Date Filed	Form Type	Document
Apr 17, 2024	3	Insider Trading
Apr 05, 2024	SC 13G/A	Major Ownership Report
Mar 27, 2024	DEF 14A	DEF 14A
Mar 27, 2024	DEFA14A	DEFA14A
Mar 20, 2024	4/A	Insider Trading
Mar 20, 2024	4/A	Insider Trading
Mar 20, 2024	4/A	Insider Trading
Mar 20, 2024	4/A	Insider Trading
Mar 20, 2024	4/A	Insider Trading
Mar 20, 2024	4/A	Insider Trading

Peers (Alternatives to Blackline Inc)

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
CRM	268.0B	34.9B	-8.06%	39.18%	64.79	7.69	11.18%	1888.46%
UBER	149.4B	37.3B	-4.97%	126.73%	79.16	4.01	16.95%	120.64%
ADSK	46.0B	5.3B	-15.78%	8.85%	50.14	8.6	9.15%	48.14%
ANSS	28.4B	2.3B	-2.82%	1.38%	56.66	12.49	9.90%	-4.45%
ZM	17.8B	4.5B	-10.77%	-12.15%	27.88	3.93	3.06%	514.65%
MID-CAP
APPF	7.7B	620.4M	-2.15%	66.67%	2.9K	12.44	31.48%	103.97%
LYFT	6.7B	4.4B	-3.62%	67.80%	-19.59	1.51	7.53%	78.52%
AYX	3.4B	970.0M	0.90%	-15.87%	-19.13	3.53	13.46%	43.89%
ALRM	3.2B	881.7M	-11.74%	32.17%	39.92	3.64	4.64%	44.42%
AI	2.5B	296.4M	-29.09%	-9.49%	-9.13	8.37	11.14%	-3.59%
AGYS	2.3B	228.1M	5.25%	-2.33%	25.83	9.89	18.99%	599.09%
SMALL-CAP
AVID	1.2B	413.5M	0.63%	-1.64%	92.02	2.88	-1.65%	-71.35%
APPS	190.8M	572.4M	-33.69%	-85.09%	-0.96	0.33	-19.38%	-489.49%
ASUR	180.2M	119.1M	-15.04%	-58.05%	-19.56	1.51	24.27%	36.31%
AEYE	146.2M	31.3M	38.43%	88.82%	-24.9	4.67	4.69%	43.72%

Blackline Inc News

Latest updates

Blackline Inc Earnings Report: Key Takeaways & Analysis

Income Statement (Last 12 Months)

(*) denotes actual numbers (not divided by Thousands)
Income Statement (Quarterly)																					(In Thousands)
Description	(%) Q/Q	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4
Revenue	3.3%	155,730,000	150,708,000	144,574,000	138,984,000	139,957,000	134,268,000	128,477,000	120,236,000	115,326,000	109,402,000	102,122,000	98,856,000	95,710,000	90,157,000	83,272,000	82,598,000	80,258,000	74,925,000	69,664,000	64,129,000	62,316,000
Gross Profit	3.7%	118,118,000	113,914,000	107,458,000	103,713,000	106,594,000	101,842,000	95,554,000	89,563,000	87,354,000	84,965,000	78,550,000	76,966,000	76,528,000	73,175,000	66,529,000	66,533,000	65,137,000	59,633,000	54,720,000	50,511,000	48,431,000
Costs and Expenses	-8.4%	105,303,000	114,988,000	89,538,000	119,026,000	103,316,000	123,261,000	108,247,000	114,927,000	103,542,000	79,014,000	88,222,000	95,671,000	83,720,000	75,211,000	69,855,000	73,870,000	69,874,000	67,494,000	60,698,000	59,834,000	56,855,000
S&GA Expenses	-7.6%	56,898,000	61,576,000	62,749,000	61,931,000	66,295,000	64,540,000	66,000,000	60,027,000	56,210,000	48,799,000	49,182,000	48,429,000	45,382,000	42,588,000	41,826,000	44,785,000	43,949,000	41,848,000	37,192,000	35,848,000	35,722,000
R&D Expenses	-15.5%	22,578,000	26,722,000	26,802,000	27,105,000	28,022,000	27,721,000	27,902,000	25,248,000	20,711,000	18,843,000	18,795,000	18,973,000	18,041,000	14,829,000	11,847,000	11,747,000	10,312,000	11,558,000	10,829,000	10,307,000	8,753,000
EBITDA Margin	14.3%	0.20	0.17	0.12	0.04	0.00	-0.06	-0.03	-0.03	-0.03	-0.01	-0.03	-	-	-	-	-	-	-	-	-	-
Interest Expenses	-0.3%	1,484,000	1,489,000	1,470,000	1,455,000	1,464,000	1,482,000	1,457,000	1,447,000	16,363,000	16,110,000	15,668,000	14,804,000	5,971,000	5,914,000	5,741,000	5,685,000	5,644,000	3,006,000	-	-	-
Income Taxes	196.7%	1,938,500	-2,005,000	900,000	628,000	-639,000	500,000	-500,000	-12,862,000	212,500	-200,000	323,000	-200,000	-191,500	600,000	-41,000	357,000	869,000	170,000	283,000	403,000	958,500
Earnings Before Taxes	128.1%	26,153,000	11,467,000	28,992,000	-6,103,000	9,831,000	-18,514,000	-12,435,000	-26,293,000	-32,263,000	-9,928,000	-25,253,000	-33,415,000	-12,803,000	-7,302,000	-7,982,000	-10,613,000	-7,843,000	-8,706,000	-5,244,000	-8,628,000	-7,762,000
EBT Margin	33.3%	0.10	0.08	0.03	-0.05	-0.09	-0.18	-0.17	-0.21	-0.24	-0.20	-0.20	-	-	-	-	-	-	-	-	-	-
Net Income	85.1%	22,069,000	11,923,000	30,849,000	-12,008,000	11,304,000	-20,019,000	-10,665,000	-10,011,000	-37,010,000	-13,741,000	-25,446,000	-38,964,000	-16,985,000	-8,751,000	-8,332,000	-12,843,000	-9,186,000	-9,206,000	-5,362,000	-8,781,000	-8,143,000
Net Income Margin	22.2%	0.09	0.07	0.02	-0.06	-0.06	-0.16	-0.15	-0.19	-0.27	-0.23	-0.23	-	-	-	-	-	-	-	-	-	-
Free Cashflow	11.7%	40,143,000	35,928,000	23,398,000	21,191,000	24,522,000	21,737,000	132,000	-1,352,000	18,594,000	13,599,000	11,762,000	-	-	-	-	-	-	-	-	-	-

Balance Sheet

(In Millions)

(*) denotes actual numbers (not divided by Millions)
Balance Sheet																					(In Millions)
Description	(%) Q/Q	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4
Assets	4.2%	2,101	2,016	1,975	1,933	1,944	1,878	1,874	1,870	1,818	1,750	1,732	1,709	1,114	1,047	1,033	1,011	1,015	976	524	505	493
Current Assets	6.7%	1,407	1,319	1,284	1,243	1,250	1,177	1,172	1,171	1,348	1,301	1,287	1,267	674	754	740	721	723	689	236	219	222
Cash Equivalents	14.8%	271	236	205	223	201	191	208	366	540	379	643	848	368	408	472	311	121	528	63.00	50.00	46.00
Net PPE	-100.0%	-	15.00	17.00	19.00	20.00	21.00	20.00	16.00	16.00	13.00	12.00	13.00	13.00	11.00	12.00	13.00	13.00	13.00	14.00	14.00	14.00
Goodwill	0.0%	449	449	444	444	444	444	444	444	290	290	290	290	290	105	185	185	185	185	185	185	185
Liabilities	2.1%	1,810	1,773	1,773	1,787	1,808	1,775	1,771	1,779	1,464	1,388	1,377	1,351	679	622	616	608	611	575	192	180	170
Current Liabilities	6.1%	643	606	355	364	368	315	328	339	323	256	260	248	242	204	203	200	207	178	175	163	159
Long Term Debt	0.1%	1,141	1,140	1,387	1,386	1,384	1,383	1,382	1,380	1,114	1,098	1,082	1,066	407	401	395	390	384	379	-	-	-
LT Debt, Current	0.1%	249	249	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
LT Debt, Non Current	0.1%	1,141	1,140	1,387	1,386	1,384	1,383	1,382	1,380	1,114	1,098	1,082	1,066	407	401	395	390	384	379	-	-	-
Shareholder's Equity	20.9%	261	216	176	117	112	78.00	79.00	66.00	325	341	337	340	422	417	410	396	399	394	325	318	319
Retained Earnings	10.0%	-214	-238	-252	-279	-272	-283	-264	-252	-301	-269	-259	-234	-201	-189	-181	-174	-163	-152	-144	-139	-132
Additional Paid-In Capital	4.4%	475	455	429	396	386	364	344	318	626	609	596	573	623	605	590	570	561	548	471	459	452
Shares Outstanding	0.4%	62.00	61.00	61.00	60.00	60.00	60.00	59.00	59.00	58.00	58.00	58.00	-	-	-	-	-	-	-	-	-	-
Float	-	-	-	3,034	-	-	-	3,666	-	-	-	5,973	-	-	-	4,285	-	-	-	2,408	-	-

Cashflow (Last 12 Months)

(In Millions)

Cashflow (Quarterly)																					(In Millions)
Description	(%) Q/Q	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4
Cashflow From Operations	13.9%	42.00	37.00	25.00	23.00	26.00	24.00	6.00	0.00	22.00	17.00	12.00	29.00	15.00	22.00	10.00	9.00	8.00	10.00	9.00	3.00	5.00
Share Based Compensation	-12.8%	18.00	20.00	20.00	20.00	18.00	21.00	21.00	16.00	17.00	17.00	17.00	15.00	14.00	13.00	13.00	9.00	9.00	10.00	8.00	6.00	6.00
Cashflow From Investing	63.0%	-4.19	-11.33	-55.97	9.00	-17.12	-41.18	-166	-171	133	-281	-220	-138	-62.83	-87.84	143	181	-420	11.00	1.00	-0.51	-2.08
Cashflow From Financing	-153.4%	-3.25	6.00	14.00	-10.23	2.00	-0.80	4.00	-2.90	5.00	-0.21	3.00	591	7.00	2.00	8.00	1.00	4.00	444	3.00	1.00	5.00

BL Income Statement

2023-12-31

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues
Total revenues	$ 589,996	$ 522,938	$ 425,706
Cost of revenues
Total cost of revenues	146,793	129,385	97,871
Gross profit	443,203	393,553	327,835
Operating expenses
Sales and marketing	243,154	256,862	202,620
Research and development	103,207	108,893	77,322
General and administrative	71,530	80,155	86,507
Restructuring costs	10,964	3,841	0
Total operating expenses	428,855	449,751	366,449
Income (loss) from operations	14,348	(56,198)	(38,614)
Other income (expense)
Interest income	52,059	14,637	700
Interest expense	(5,898)	(5,850)	(62,945)
Other income (expense), net	46,161	8,787	(62,245)
Income (loss) before income taxes	60,509	(47,411)	(100,859)
Provision for (benefit from) income taxes	1,450	(13,520)	135
Net income (loss)	59,059	(33,891)	(100,994)
Net income (loss) attributable to redeemable non-controlling interest (Note 4)	892	(369)	(910)
Adjustment attributable to redeemable non-controlling interest (Note 4)	5,334	(4,131)	15,077
Net income (loss) attributable to BlackLine, Inc.	$ 52,833	$ (29,391)	$ (115,161)
Basic net income (loss) per share attributable to BlackLine, Inc. (in usd per share)	$ 0.87	$ (0.49)	$ (1.97)
Shares used to calculate basic net income (loss) per share (in shares)	60,849,000	59,539,000	58,351,000
Diluted net income (loss) per share attributable to BlackLine, Inc. (in usd per share)	$ 0.81	$ (0.49)	$ (1.97)
Shares used to calculate diluted net income (loss) per share (in shares)	72,045,000	59,539,000	58,351,000
Subscription and support
Revenues
Total revenues	$ 555,516	$ 491,187	$ 398,633
Cost of revenues
Total cost of revenues	121,308	102,132	71,979
Professional services
Revenues
Total revenues	34,480	31,751	27,073
Cost of revenues
Total cost of revenues	$ 25,485	$ 27,253	$ 25,892

BL Balance Sheet

2023-12-31

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 271,117	$ 200,968
Marketable securities (amortized cost of $932,850 and $875,456 at December 31, 2023 and December 31, 2022, respectively)	933,355	874,083
Accounts receivable, net of allowances of $5,064 and $2,282 at December 31, 2023 and 2022, respectively	171,608	150,858
Prepaid expenses and other current assets	31,244	23,658
Total current assets	1,407,324	1,249,567
Capitalized software development costs, net	37,828	32,070
Property and equipment, net	14,867	19,811
Intangible assets, net	79,056	90,864
Goodwill	448,965	443,861
Operating lease right-of-use assets	19,173	14,708
Other assets	93,552	92,775
Total assets	2,100,765	1,943,656
Current liabilities:
Accounts payable	8,623	14,964
Accrued expenses and other current liabilities	59,690	58,600
Deferred revenue, current	320,133	279,325
Finance lease liabilities, current	778	989
Operating lease liabilities, current	4,108	5,943
Convertible senior notes, net, current	249,233	0
Contingent consideration, current	0	8,000
Total current liabilities	642,565	367,821
Finance lease liabilities, noncurrent	4	785
Operating lease liabilities, noncurrent	15,738	9,292
Convertible senior notes, net, noncurrent	1,140,608	1,384,306
Contingent consideration, noncurrent	0	33,549
Deferred tax liabilities, net	6,394	5,568
Deferred revenue, noncurrent	904	343
Other long-term liabilities	3,608	6,229
Total liabilities	1,809,821	1,807,893
Commitments and contingencies (Note 17)
Redeemable non-controlling interest (Note 4)	30,063	23,895
Stockholders' equity:
Common stock, $0.01 par value, 500,000,000 shares authorized, 61,515,105 and 60,016,824 issued and outstanding at December 31, 2023 and 2022, respectively	615	600
Additional paid-in capital	474,863	385,709
Accumulated other comprehensive income (loss)	205	(1,472)
Accumulated deficit	(214,802)	(272,969)
Total stockholders' equity	260,881	111,868
Total liabilities, redeemable non-controlling interest, and stockholders' equity	$ 2,100,765	$ 1,943,656

About Blackline Inc

BlackLine, Inc. provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles high volumes of individual transactions; and task management to create and manage processes and task lists. The company's financial close management solutions also include journal entry that allows users to generate, review, and post manual journal entries; variance analysis that monitors and identifies anomalous fluctuations in balance sheet and income statement account balances; consolidation integrity manager that manages the automated system-to-system tie-out process that occurs during the consolidation phase of the financial close; and compliance, an integrated solution that facilitates compliance-related initiatives, consolidates project management, and provides visibility over control self-assessments and testing. In addition, it offers accounts receivable automation solutions, which include blackline cash application, credit and risk management, collections management, disputes and deductions, team and task management, and AR intelligence solutions. Further, the company provides intercompany create functionality that stores permissions and business logic exceptions by entity, service, and transaction type thereby ensuring both the seller and the buyer of the intercompany transaction are authorized to conduct business; intercompany processing, which records an organization's intercompany transactions; and netting and settlement that generates a real-time settlement matrix, which shows the balance of transactions. The company sells its solutions primarily through direct sales force to multinational corporations, large domestic enterprises, and mid-market companies across various industries. BlackLine, Inc. was incorporated in 2001 and is headquartered in Woodland Hills, California.

CEO	Mr. Owen M. Ryan
WEBSITE	blackline.com
INDUSTRY	Software - Apps
EMPLOYEES	1814

Blackline Inc Frequently Asked Questions

What is the ticker symbol for Blackline Inc? What does BL stand for in stocks?

BL is the stock ticker symbol of Blackline Inc. Every public company that trades on a stock exchange gets a ticker symbol.

What is the market capital of Blackline Inc (BL)?

As of Wed Apr 17 2024, market cap of Blackline Inc is 3.61 Billion. The market capitalization is calculated by multiplying the stock price with the number of shares outstanding.

What is the fair value of BL stock?

You can check BL's fair value in chart for subscribers.

What is the fair value of BL stock?

You can check BL's fair value in chart for subscribers. The fair value of Blackline Inc is provided for various growth and macro-economic scenarios from very pessimiatic to very optimistic assumptions. These fair values are estimates from Grufity's Fair Value model based on company's past performance. However, past performance of Blackline Inc is no guarantee of future performance. These fairvalue estimates should only be used as one of the inputs in your stock analysis. We provide model's historical fair value estimates for BL so that you know how good or bad the model has been in the past so you can discard it if needed. There are others that provide fair values of stocks such as wallmine, finbox, gurufocus and finviz. Most provide point in time estimates. We provide a history of our models fair value estimates so that you can get a sense of it's usefulness. Otherwise this data point is of little use.

Is Blackline Inc a good stock to buy?

The fair value guage provides a quick view whether BL is over valued or under valued. Whether Blackline Inc is cheap or expensive depends on the assumptions which impact Blackline Inc's fair value. We provide several scenarios of inflation and growth to encompass these range of assumptions for BL.

What is Blackline Inc's Price to Earnings (PE) and Price to sales (PS) ratio?

As of Wed Apr 17 2024, BL's PE ratio (Price to Earnings) is 68.32 and Price to Sales (PS) ratio is 6.12. The price to earnings and price to sales ratio are two most important valuation metrics for any company. PE ratio tell us the number of years of earnings investors are ready to pay for owning the company. Historically, S&P500 price to earnings ratio has fallen below 12 during periods of gloom and gone past 30 during periods of euphoria. BL PE ratio will change depending on the future growth rate expectations of investors.