Blackbaud vs Box
Box reported revenue of $1.2 billion in fiscal 2026, about the same as Blackbaud's $1.1 billion in fiscal 2025. Blackbaud's revenue fell 2.3% in its latest year, and Box's grew 8.0%. Blackbaud had an operating margin of 16.9%, against 7.1% at Box. Free cash flow was $258 million at Blackbaud and $350 million at Box. Their fiscal years end in different months (December 31 and January 31), so the periods don't line up exactly.
Side by side
| Blackbaud | Box | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2026, Jan 31, 2026 |
| Revenue | $1.1B | $1.2B |
| Revenue growth | −2.3% | 8.0% |
| Revenue growth a year, last 5 years | 4.3% | 8.8% |
| Gross margin | 58.8% | 79.2% |
| Operating margin | 16.9% | 7.1% |
| Net margin | 10.2% | 9.8% |
| Free cash flow | $258M | $350M |
| Free cash flow margin | 22.9% | 29.8% |
| Return on capital | 14.5% | — |
| Net debt to EBITDA | 3.9x | −0.2x |
| Dividends and buybacks | $217M | $290M |
| Change in diluted share count | −4.1% | 0.3% |
| Last close | $55.07 | $43.21 |
| P/E at the last close | 17.2× | 63.5× |
| Insider trades, last 12 months | sold $5.8 million | sold $10.4 million |
| Piotroski F-score | 8 of 9 | 5 of 9 |
Amounts in each company's own currency, US$ 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
BlackbaudBox
Operating margin
Percent of revenue
BlackbaudBox
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
BlackbaudBox