BlackLine Systems vs Navan
Navan reported revenue of $702 million in fiscal 2026, about the same as BlackLine Systems' $700 million in fiscal 2025. BlackLine Systems' revenue grew 7.2% in its latest year, and Navan's grew 30.8%. BlackLine Systems had an operating margin of 3.6%, against -28.0% at Navan. Free cash flow was $161 million at BlackLine Systems and $33 million at Navan. Their fiscal years end in different months (December 31 and January 31), so the periods don't line up exactly.
Side by side
| BlackLine Systems | Navan | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2026, Jan 31, 2026 |
| Revenue | $700M | $702M |
| Revenue growth | 7.2% | 30.8% |
| Revenue growth a year, last 5 years | 14.8% | — |
| Gross margin | 75.2% | 71.3% |
| Operating margin | 3.6% | −28.0% |
| Net margin | 3.5% | −56.7% |
| Free cash flow | $161M | $33M |
| Free cash flow margin | 23.1% | 4.7% |
| Return on capital | 3.2% | — |
| Net debt to EBITDA | 1.6x | — |
| Dividends and buybacks | $236M | $0M |
| Change in diluted share count | −10.3% | 116.0% |
| Last close | $25.89 | $25.48 |
| P/E at the last close | 39.2× | — |
| Insider trades, last 12 months | sold $2.4 million | bought $45.3 million, sold $69.2 million |
| Piotroski F-score | 6 of 9 | — |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
BlackLine SystemsNavan
Operating margin
Percent of revenue
BlackLine SystemsNavan
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
BlackLine SystemsNavan
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the BlackLine Systems and Navan pages.