Company Valuation: Blackbaud, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027
Market Cap 1 3,704 3,055 4,552 3,668 2,977 1,931 -
Change - -17.52% 49.01% -19.43% -18.82% -35.13% -
Enterprise Value (EV) 1 4,605 3,882 5,301 4,675 4,048 2,873 2,652
Change - -15.69% 36.53% -11.81% -13.41% -29.04% -7.68%
P/E 658x -66.9x 2,890x -13x 26.7x 13.5x 11x
PBR - - - - - - -
PEG - 0x -28x 0x -0x 0.4x 0.5x
Capitalization / Revenue 3.99x 2.89x 4.12x 3.17x 2.64x 1.64x 1.57x
EV / Revenue 4.96x 3.67x 4.8x 4.05x 3.59x 2.44x 2.15x
EV / EBITDA 18.7x 14.8x 14.9x 12x 9.99x 6.59x 5.74x
EV / EBIT 22.9x 19.2x 18x 14.6x 11.8x 7.73x 6.63x
EV / FCF 28.5x 29.2x 39.1x 20.4x 19.9x 9.9x 8.55x
FCF Yield 3.51% 3.42% 2.56% 4.89% 5.03% 10.1% 11.7%
Dividend per Share 2 - - - - - - -
Rate of return - - - - - - -
EPS 2 0.12 -0.88 0.03 -5.68 2.37 3.19 3.93
Distribution rate - - - - - - -
Net sales 1 927.7 1,058 1,105 1,155 1,128 1,177 1,232
EBITDA 1 246.2 262.6 356.5 388.9 405.3 435.7 462.3
EBIT 1 200.8 202.6 294.1 320.1 344.4 371.5 400.1
Net income 1 5.698 -45.41 1.82 -287 115 143.7 171.1
Net Debt 1 901 827.4 748.4 1,007 1,071 941.2 720.6
Reference price 2 78.98 58.86 86.70 73.92 63.32 43.19 43.19
Nbr of stocks (in thousands) 46,899 51,905 52,507 49,616 47,020 44,719 -
Announcement Date 2/22/22 A 2/13/23 A 2/12/24 A 2/18/25 A 2/10/26 A - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
26.2x9.68x15.83x0.77% 3,833B
124.16x54.2x87.97x-.--% 456B
479.02x20.53x81.15x-.--% 96.28B
67.86x14.32x30.19x-.--% 89.81B
107.18x9.08x24.25x-.--% 81.59B
33.64x1.62x12.95x-.--% 60.97B
188.3x - - -.--% 47.52B
32.1x6.69x32.11x-.--% 42.36B
109.33x4.32x20.97x-.--% 37.67B
Average 129.75x 15.05x 38.18x 0.09% 527.2B
Weighted average by Cap. 49.41x 14.13x 24.74x 0.62%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA