BL vs. NNI

Last updated Apr 1, 2026

Compare and contrast key facts about BlackLine, Inc. (BL) and Nelnet, Inc. (NNI).

Performance

BL vs. NNI - Performance Comparison

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

BL vs. NNI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BL BlackLine, Inc.	-33.08%	-9.00%	-2.69%	-7.18%	-35.03%	-22.37%	158.69%	25.91%	24.85%	18.71%
NNI Nelnet, Inc.	-2.76%	25.71%	22.41%	-1.64%	-6.04%	38.71%	24.01%	12.66%	-3.32%	9.27%

Fundamentals

Market Cap BL : $2.65B NNI : $4.69B
EPS BL : $0.37 NNI : $11.78
PE Ratio BL : 100.62 NNI : 10.95
PEG Ratio BL : 1.78 NNI : 0.88
PS Ratio BL : 3.52 NNI : 2.61
PB Ratio BL : 7.97 NNI : 1.27
Total Revenue (TTM) BL : $700.43M NNI : $1.80B
Gross Profit (TTM) BL : $527.04M NNI : $1.17B
EBITDA (TTM) BL : $85.82M NNI : $725.93M

Returns By Period

In the year-to-date period, BL achieves a -33.08% return, which is significantly lower than NNI's -2.76% return.

BL

• 1D: 1.40%
• 1M: 2.75%
• YTD: -33.08%
• 6M: -27.56%
• 1Y: -24.69%
• 3Y*: -18.02%
• 5Y*: -19.77%
• 10Y*: —

NNI

• 1D: -0.10%
• 1M: -2.09%
• YTD: -2.76%
• 6M: 2.48%
• 1Y: 17.40%
• 3Y*: 13.17%
• 5Y*: 13.13%
• 10Y*: 13.76%

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

Return for Risk

BL vs. NNI — Risk / Return Rank

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

BL

BL Risk / Return Rank: 17
BL Sharpe Ratio Rank: 16
BL Sortino Ratio Rank: 17
BL Omega Ratio Rank: 17
BL Calmar Ratio Rank: 24
BL Martin Ratio Rank: 9

NNI

NNI Risk / Return Rank: 67
NNI Sharpe Ratio Rank: 68
NNI Sortino Ratio Rank: 62
NNI Omega Ratio Rank: 58
NNI Calmar Ratio Rank: 73
NNI Martin Ratio Rank: 72

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. NNI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackLine, Inc. (BL) and Nelnet, Inc. (NNI). 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	NNI	Difference
Sharpe ratio Return per unit of total volatility	-0.60	0.76	-1.35
Sortino ratio Return per unit of downside risk	-0.64	1.27	-1.90
Omega ratio Gain probability vs. loss probability	0.92	1.15	-0.23
Calmar ratio Return relative to maximum drawdown	-0.54	1.65	-2.19
Martin ratio Return relative to average drawdown	-1.52	3.72	-5.24
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. NNI - Sharpe Ratio Comparison

The current BL Sharpe Ratio is -0.60, which is lower than the NNI Sharpe Ratio of 0.76. The chart below compares the historical Sharpe Ratios of BL and NNI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BL	NNI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.60	0.76	-1.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.46	0.61	-1.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.51	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.24	-0.13

Correlation

The correlation between BL and NNI is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

BL vs. NNI - Dividend Comparison

BL has not paid dividends to shareholders, while NNI's dividend yield for the trailing twelve months is around 0.96%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BL BlackLine, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NNI Nelnet, Inc.	0.96%	0.90%	1.05%	1.20%	1.08%	0.92%	1.15%	1.27%	1.26%	1.06%	0.99%	1.25%

Drawdowns

BL vs. NNI - Drawdown Comparison

The maximum BL drawdown since its inception was -78.37%, smaller than the maximum NNI drawdown of -89.95%. Use the drawdown chart below to compare losses from any high point for BL and NNI.

Drawdown Indicators

	BL	NNI	Difference
Max Drawdown Largest peak-to-trough decline	-78.37%	-89.95%	+11.58%
Max Drawdown (1Y) Largest decline over 1 year	-44.72%	-10.10%	-34.62%
Max Drawdown (5Y) Largest decline over 5 years	-75.25%	-25.06%	-50.19%
Max Drawdown (10Y) Largest decline over 10 years	—	-44.04%	—
Current Drawdown Current decline from peak	-75.39%	-8.39%	-67.00%
Average Drawdown Average peak-to-trough decline	-34.21%	-22.35%	-11.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.93%	4.47%	+11.46%

Volatility

BL vs. NNI - Volatility Comparison

BlackLine, Inc. (BL) has a higher volatility of 13.32% compared to Nelnet, Inc. (NNI) at 5.90%. This indicates that BL's price experiences larger fluctuations and is considered to be riskier than NNI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BL	NNI	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.32%	5.90%	+7.42%
Volatility (6M) Calculated over the trailing 6-month period	31.79%	15.25%	+16.54%
Volatility (1Y) Calculated over the trailing 1-year period	39.68%	23.10%	+16.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.93%	21.79%	+21.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.18%	26.91%	+17.27%

Financials

BL vs. NNI - Profitability Comparison

The chart below illustrates the profitability comparison between BlackLine, Inc. and Nelnet, 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 Apr 2026, BlackLine, Inc. reported a gross profit of 137.73M and revenue of 183.18M. Therefore, the gross margin over that period was 75.2%.

NNI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Nelnet, Inc. reported a gross profit of 0.00 and revenue of 225.38M. 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 Apr 2026, BlackLine, Inc. reported an operating income of 6.82M and revenue of 183.18M, resulting in an operating margin of 3.7%.

NNI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Nelnet, Inc. reported an operating income of 0.00 and revenue of 225.38M, resulting in an operating margin of 0.0%.

BL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, BlackLine, Inc. reported a net income of 4.89M and revenue of 183.18M, resulting in a net margin of 2.7%.

NNI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Nelnet, Inc. reported a net income of 57.77M and revenue of 225.38M, resulting in a net margin of 25.6%.