BL vs. CPAY

Last updated Jun 3, 2026

BL (BlackLine, Inc.) and CPAY (Corpay, Inc.) are both stocks. Both operate in the Software - Infrastructure industry within the Technology sector. Over the past 5 years, BL returned -21.33%/yr vs 5.35%/yr for CPAY. At a 0.37 correlation, their price movements are largely independent.

Performance

BL vs. CPAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackLine, Inc. (BL) and Corpay, Inc. (CPAY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BL achieves a -44.87% return, which is significantly lower than CPAY's 19.57% return.

BL

• 1D: -2.68%
• 1M: -10.12%
• YTD: -44.87%
• 6M: -47.25%
• 1Y: -45.34%
• 3Y*: -17.99%
• 5Y*: -21.33%
• 10Y*: —

CPAY

• 1D: -1.18%
• 1M: 17.12%
• YTD: 19.57%
• 6M: 21.99%
• 1Y: 11.72%
• 3Y*: 15.28%
• 5Y*: 5.35%
• 10Y*: 9.11%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BL vs. CPAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BL BlackLine, Inc.	-44.87%	-9.00%	-2.69%	-7.18%	-35.03%	-22.37%	158.69%	25.91%	24.85%	18.71%
CPAY Corpay, Inc.	19.57%	-11.08%	19.75%	53.86%	-17.94%	-17.96%	-5.18%	54.92%	-3.49%	35.97%

Correlation

The correlation between BL and CPAY is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (All Time) Calculated using the full available price history since Oct 31, 2016	0.37

Fundamentals

Market Cap BL : $2.13B CPAY : $24.63B
EPS BL : $0.39 CPAY : $16.74
PE Ratio BL : 77.34 CPAY : 21.49
PEG Ratio BL : 1.37 CPAY : 2.00
PS Ratio BL : 2.87 CPAY : 5.29
PB Ratio BL : 6.96 CPAY : 7.02
Total Revenue (TTM) BL : $716.65M CPAY : $4.78B
Gross Profit (TTM) BL : $539.92M CPAY : $2.57B
EBITDA (TTM) BL : $87.84M CPAY : $2.55B

Return for Risk

BL vs. CPAY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BL

BL Risk / Return Rank: 6
BL Sharpe Ratio Rank: 5
BL Sortino Ratio Rank: 6
BL Omega Ratio Rank: 7
BL Calmar Ratio Rank: 10
BL Martin Ratio Rank: 2

CPAY

CPAY Risk / Return Rank: 49
CPAY Sharpe Ratio Rank: 51
CPAY Sortino Ratio Rank: 47
CPAY Omega Ratio Rank: 46
CPAY Calmar Ratio Rank: 49
CPAY Martin Ratio Rank: 50

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BL vs. CPAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackLine, Inc. (BL) and Corpay, Inc. (CPAY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BL	CPAY	Difference
Sharpe ratio Return per unit of total volatility	-0.98	0.31	-1.30
Sortino ratio Return per unit of downside risk	-1.39	0.74	-2.13
Omega ratio Gain probability vs. loss probability	0.83	1.09	-0.27
Calmar ratio Return relative to maximum drawdown	-0.80	0.39	-1.19
Martin ratio Return relative to average drawdown	-1.80	0.86	-2.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BL vs. CPAY - Sharpe Ratio Comparison

The current BL Sharpe Ratio is -0.98, which is lower than the CPAY Sharpe Ratio of 0.31. The chart below compares the historical Sharpe Ratios of BL and CPAY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BL	CPAY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.98	0.31	-1.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.48	0.17	-0.65
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.28	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	0.58	-0.52

Drawdowns

BL vs. CPAY - Drawdown Comparison

The maximum BL drawdown since its inception was -83.22%, which is greater than CPAY's maximum drawdown of -50.13%. Use the drawdown chart below to compare losses from any high point for BL and CPAY.

Drawdown Indicators

	BL	CPAY	Difference
Max Drawdown Largest peak-to-trough decline	-83.22%	-50.13%	-33.09%
Max Drawdown (1Y) Largest decline over 1 year	-57.11%	-27.27%	-29.84%
Max Drawdown (3Y) Largest decline over 3 years	-63.25%	-34.54%	-28.71%
Max Drawdown (5Y) Largest decline over 5 years	-80.80%	-41.63%	-39.17%
Max Drawdown (10Y) Largest decline over 10 years	—	-50.13%	—
Current Drawdown Current decline from peak	-79.73%	-7.63%	-72.10%
Average Drawdown Average peak-to-trough decline	-35.02%	-13.34%	-21.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.25%	12.41%	+12.84%

Volatility

BL vs. CPAY - Volatility Comparison

BlackLine, Inc. (BL) has a higher volatility of 25.33% compared to Corpay, Inc. (CPAY) at 14.26%. This indicates that BL's price experiences larger fluctuations and is considered to be riskier than CPAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BL	CPAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.33%	14.26%	+11.07%
Volatility (6M) Calculated over the trailing 6-month period	41.35%	29.73%	+11.62%
Volatility (1Y) Calculated over the trailing 1-year period	46.33%	37.52%	+8.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.64%	32.37%	+12.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.86%	32.92%	+11.94%

Dividends

BL vs. CPAY - Dividend Comparison

Neither BL nor CPAY has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

BL vs. CPAY - Profitability Comparison

The chart below illustrates the profitability comparison between BlackLine, Inc. and Corpay, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

BL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, BlackLine, Inc. reported a gross profit of 139.15M and revenue of 183.16M. Therefore, the gross margin over that period was 76.0%.

CPAY - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Corpay, Inc. reported a gross profit of 0.00 and revenue of 1.26B. Therefore, the gross margin over that period was 0.0%.

BL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, BlackLine, Inc. reported an operating income of 6.24M and revenue of 183.16M, resulting in an operating margin of 3.4%.

CPAY - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Corpay, Inc. reported an operating income of 636.17M and revenue of 1.26B, resulting in an operating margin of 50.5%.

BL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, BlackLine, Inc. reported a net income of 8.13M and revenue of 183.16M, resulting in a net margin of 4.4%.

CPAY - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Corpay, Inc. reported a net income of 350.07M and revenue of 1.26B, resulting in a net margin of 27.8%.

Frequently Asked Questions

Can I hold both BL and CPAY in my portfolio?

BL and CPAY have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BL or CPAY?

BL has higher volatility (25.33%) compared to CPAY (14.26%). In terms of maximum drawdown, BL dropped -83.22% vs CPAY's -50.13%.

Which has better risk-adjusted returns?

CPAY currently has the higher Sharpe Ratio (0.31 vs -0.98), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.