Is BlackLine, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for BlackLine, Inc. moved from expensive to fair, indicating a more favorable assessment of its market position. Based on the current metrics, the company appears fairly valued. Key ratios include a P/E ratio of 36, an EV to EBITDA of 47.36, and a Price to Book Value of 8.55. In comparison, peer Paycor HCM, Inc. has a P/E ratio of approximately 35.70, while Flywire Corp. stands out with a very attractive EV to EBITDA of 60.06.
Despite the fair valuation, BlackLine has underperformed relative to the S&P 500, with a YTD return of -18.01% compared to the index's 13.30%. This trend is further emphasized over the longer term, where the stock has declined by 50.67% over the past five years, while the S&P 500 has gained 91.29%.