BL - Blackline Inc Stock Price, Fair Value and News

58.19USD-0.80 (-1.36%)Market Closed

Market Summary

USD58.19-0.80

Market Closed

-1.36%

BL Alerts

1 major insider sales recently.

Big jump in Earnings (Y/Y)

BL Stock Price

View Fullscreen

BL RSI Chart

BL Valuation

Market Cap

3.6B

Price/Earnings (Trailing)

48.2

Price/Sales (Trailing)

5.99

EV/EBITDA

32.09

Price/Free Cashflow

24.38

BL Price/Sales (Trailing)

BL Profitability

Operating Margin

92.79%

EBT Margin

13.52%

Return on Equity

27.04%

Return on Assets

3.62%

Free Cashflow Yield

4.1%

BL Fundamentals

BL Revenue

Revenue (TTM)

608.5M

Rev. Growth (Yr)

13.29%

Rev. Growth (Qtr)

1.11%

BL Earnings

Earnings (TTM)

75.7M

Earnings Growth (Yr)

190.18%

Earnings Growth (Qtr)

-50.93%

Breaking Down BL Revenue

52 Week Range

48.2260.79

(Low)(High)

Last 7 days

-1.2%

Last 30 days

-14.0%

Last 90 days

-4.7%

Trailing 12 Months

8.0%

How does BL drawdown profile look like?

BL Financial Health

Current Ratio

2.3

Debt/Equity

4.08

Debt/Cashflow

0.14

BL Investor Care

Shares Dilution (1Y)

2.20%

Diluted EPS (TTM)

1.16

Historical Charts for Stock Metrics

Get all data in R, Python etc through our Historical Stock Data APIs

Net sales

Year	Q1	Q2	Q3	Q4
2024	608.5M	0	0	0
2023	541.7M	557.8M	574.2M	590.0M
2022	447.1M	473.4M	498.3M	522.9M
2021	368.0M	386.8M	406.1M	425.7M
2020	307.4M	321.1M	336.3M	351.7M
2019	240.6M	254.8M	271.0M	289.0M
2018	188.7M	202.2M	215.5M	227.8M
2017	134.7M	147.7M	160.9M	175.6M
2016	92.1M	101.7M	112.3M	123.1M
2015	59.7M	67.6M	75.6M	83.6M
2014	0	0	0	51.7M

Get all data in R, Python etc through our Historical Stock Data APIs

Tracking the Latest Insider Buys and Sells of Blackline Inc

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
May 01, 2024	woodhams mark	sold	-166,866	58.00	-2,877	chief revenue officer
Mar 17, 2024	villanova patrick	acquired	-	-	8,880	chief accounting officer
Mar 17, 2024	ryan owen	acquired	-	-	63,390	(co-ceo)
Mar 17, 2024	partin mark	acquired	-	-	43,100	chief financial officer
Mar 17, 2024	tucker therese	acquired	-	-	63,390	(co-ceo)
Mar 17, 2024	morgan-prager karole	acquired	-	-	26,200	chief legal and administrative
Mar 17, 2024	woodhams mark	acquired	-	-	23,840	chief revenue officer
Mar 15, 2024	drummond camille	acquired	-	-	470	-
Feb 29, 2024	thompson kevin b	sold	-258,750	57.5	-4,500	-
Feb 21, 2024	woodhams mark	sold	-180,129	56.15	-3,208	chief revenue officer

Which funds bought or sold BL recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
May 08, 2024	COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS	new	-	709,218	709,218	-%
May 08, 2024	Baron Wealth Management LLC	unchanged	-	8,047	242,821	0.13%
May 08, 2024	KBC Group NV	unchanged	-	2,000	77,000	-%
May 08, 2024	BNP PARIBAS ASSET MANAGEMENT Holding S.A.	unchanged	-	-1,000	568,000	-%
May 08, 2024	COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS	new	-	1,574,390	1,574,390	0.01%
May 08, 2024	Hills Bank & Trust Co	sold off	-100	-483,910	-	-%
May 08, 2024	ProShare Advisors LLC	added	19.67	147,822	769,599	-%
May 08, 2024	US BANCORP \DE\	reduced	-10.83	-151,386	1,794,750	-%
May 08, 2024	Bell Investment Advisors, Inc	reduced	-13.11	-386	3,423	-%
May 08, 2024	Russell Investments Group, Ltd.	reduced	-26.46	-7,683	24,411	-%

Are Funds Buying or Selling BL?

Are funds buying BL calls or puts?

Calls

Puts

No. of funds holding Calls - Puts

Net Call Options

No. of funds that own BL

No. of Funds

Unveiling Blackline Inc's Major ShareHolders

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Apr 05, 2024	blackrock inc.	13.7%	8,467,351	SC 13G/A
Feb 13, 2024	tucker therese	8.0%	4,857,172	SC 13G/A
Feb 13, 2024	vanguard group inc	11.00%	6,737,888	SC 13G/A
Feb 09, 2024	fmr llc	-	0	SC 13G
Jan 26, 2024	blackrock inc.	7.9%	4,842,715	SC 13G/A
Jul 10, 2023	vanguard group inc	10.38%	6,277,625	SC 13G/A
Feb 14, 2023	clearlake capital group, l.p.	9.6%	5,712,300	SC 13G
Feb 14, 2023	tucker therese	7.9%	4,750,294	SC 13G/A
Feb 14, 2023	kayne anderson rudnick investment management llc	3.69%	2,203,641	SC 13G/A
Feb 09, 2023	vanguard group inc	8.92%	5,332,091	SC 13G/A

Recent SEC filings of Blackline Inc

View All Filings

Date Filed	Form Type	Document
May 08, 2024	10-Q	Quarterly Report
May 08, 2024	3	Insider Trading
May 07, 2024	8-K	Current Report
May 02, 2024	4	Insider Trading
May 01, 2024	144	Notice of Insider Sale Intent
Apr 17, 2024	3	Insider Trading
Apr 05, 2024	SC 13G/A	Major Ownership Report
Mar 27, 2024	DEF 14A	DEF 14A
Mar 27, 2024	DEFA14A	DEFA14A
Mar 20, 2024	4/A	Insider Trading

Peers (Alternatives to Blackline Inc)

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
CRM	266.9B	34.9B	-9.02%	34.30%	64.52	7.66	11.18%	1888.46%
UBER	141.9B	38.6B	-9.61%	75.10%	102.1	3.68	14.01%	141.26%
ADSK	46.8B	5.3B	-11.80%	11.39%	51.01	8.75	9.15%	48.14%
ANSS	28.6B	2.2B	-4.95%	10.69%	65.78	12.84	3.59%	-21.47%
ZM	18.4B	4.5B	-4.26%	-5.12%	28.84	4.06	3.06%	514.65%
MID-CAP
APPF	8.9B	671.8M	5.51%	71.97%	115.75	13.18	33.64%	185.98%
LYFT	6.9B	4.7B	-6.92%	94.47%	-37.56	1.48	10.90%	88.31%
ALRM	3.4B	881.7M	-2.86%	43.34%	42.76	3.9	4.64%	44.42%
AYX	3.4B	970.0M	0.90%	-15.87%	-19.13	3.53	13.46%	43.89%
AI	2.9B	296.4M	-2.45%	20.52%	-10.78	9.89	11.14%	-3.59%
AGYS	2.2B	228.1M	-4.15%	2.69%	25.39	9.72	18.99%	599.09%
SMALL-CAP
AVID	1.2B	413.5M	0.63%	-1.64%	92.02	2.88	-1.65%	-71.35%
APPS	228.5M	572.4M	3.23%	-81.38%	-1.15	0.4	-19.38%	-489.49%
AEYE	210.9M	31.6M	49.54%	166.62%	-35.92	6.67	2.76%	43.72%
ASUR	194.9M	117.7M	-5.04%	-45.44%	-19.76	1.66	12.54%	11.24%

Blackline Inc News

Latest updates

Blackline Inc Earnings Report: Key Takeaways & Analysis

Income Statement (Last 12 Months)

(*) denotes actual numbers (not divided by Thousands)
Income Statement (Quarterly)																					(In Thousands)
Description	(%) Q/Q	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1
Revenue	1.1%	157,461,000	155,730,000	150,708,000	144,574,000	138,984,000	139,957,000	134,268,000	128,477,000	120,236,000	115,326,000	109,402,000	102,122,000	98,856,000	95,710,000	90,157,000	83,272,000	82,598,000	80,258,000	74,925,000	69,664,000	64,129,000
Gross Profit	0.2%	118,364,000	118,118,000	113,914,000	107,458,000	103,713,000	106,594,000	101,842,000	95,554,000	89,563,000	87,354,000	84,965,000	78,550,000	76,966,000	76,528,000	73,175,000	66,529,000	66,533,000	65,137,000	59,633,000	54,720,000	50,511,000
Costs and Expenses	10.7%	116,616,000	105,303,000	114,988,000	89,538,000	119,026,000	103,316,000	123,261,000	108,247,000	114,927,000	103,542,000	79,014,000	88,222,000	95,671,000	83,720,000	75,211,000	69,855,000	73,870,000	69,874,000	67,494,000	60,698,000	59,834,000
S&GA Expenses	7.4%	61,111,000	56,898,000	61,576,000	62,749,000	61,931,000	66,295,000	64,540,000	66,000,000	60,027,000	56,210,000	48,799,000	49,182,000	48,429,000	45,382,000	42,588,000	41,826,000	44,785,000	43,949,000	41,848,000	37,192,000	35,848,000
R&D Expenses	10.8%	25,015,000	22,578,000	26,722,000	26,802,000	27,105,000	28,022,000	27,721,000	27,902,000	25,248,000	20,711,000	18,843,000	18,795,000	18,973,000	18,041,000	14,829,000	11,847,000	11,747,000	10,312,000	11,558,000	10,829,000	10,307,000
EBITDA Margin	15.6%	0.23	0.20	0.17	0.12	0.04	0.00	-0.06	-0.03	-0.03	-0.03	-0.01	-0.03	-	-	-	-	-	-	-	-	-
Interest Expenses	-1.0%	1,469,000	1,484,000	1,489,000	1,470,000	1,455,000	1,464,000	1,482,000	1,457,000	1,447,000	16,363,000	16,110,000	15,668,000	14,804,000	5,971,000	5,914,000	5,741,000	5,685,000	5,644,000	3,006,000	-	-
Income Taxes	-53.6%	900,000	1,938,500	-2,005,000	900,000	628,000	-639,000	500,000	-500,000	-12,862,000	212,500	-200,000	323,000	-200,000	-191,500	600,000	-41,000	357,000	869,000	170,000	283,000	403,000
Earnings Before Taxes	-40.2%	15,639,000	26,153,000	11,467,000	28,992,000	-6,103,000	9,831,000	-18,514,000	-12,435,000	-26,293,000	-32,263,000	-9,928,000	-25,253,000	-33,415,000	-12,803,000	-7,302,000	-7,982,000	-10,613,000	-7,843,000	-8,706,000	-5,244,000	-8,628,000
EBT Margin	31.8%	0.14	0.10	0.08	0.03	-0.05	-0.09	-0.18	-0.17	-0.21	-0.24	-0.20	-0.20	-	-	-	-	-	-	-	-	-
Net Income	-50.9%	10,829,000	22,069,000	11,923,000	30,849,000	-12,008,000	11,304,000	-20,019,000	-10,665,000	-10,011,000	-37,010,000	-13,741,000	-25,446,000	-38,964,000	-16,985,000	-8,751,000	-8,332,000	-12,843,000	-9,186,000	-9,206,000	-5,362,000	-8,781,000
Net Income Margin	38.9%	0.12	0.09	0.07	0.02	-0.06	-0.06	-0.16	-0.15	-0.19	-0.27	-0.23	-0.23	-	-	-	-	-	-	-	-	-
Free Cashflow	24.9%	50,126,000	40,143,000	35,928,000	23,398,000	21,191,000	24,522,000	21,737,000	132,000	-1,352,000	18,594,000	13,599,000	11,762,000	-	-	-	-	-	-	-	-	-

Balance Sheet

(In Millions)

(*) denotes actual numbers (not divided by Millions)
Balance Sheet																					(In Millions)
Description	(%) Q/Q	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1
Assets	-0.6%	2,089	2,101	2,016	1,975	1,933	1,944	1,878	1,874	1,870	1,818	1,750	1,732	1,709	1,114	1,047	1,033	1,011	1,015	976	524	505
Current Assets	-0.3%	1,404	1,407	1,319	1,284	1,243	1,250	1,177	1,172	1,171	1,348	1,301	1,287	1,267	674	754	740	721	723	689	236	219
Cash Equivalents	22.3%	332	271	236	205	223	201	191	208	366	540	379	643	848	368	408	472	311	121	528	63.00	50.00
Net PPE	-12.1%	13.00	15.00	15.00	17.00	19.00	20.00	21.00	20.00	16.00	16.00	13.00	12.00	13.00	13.00	11.00	12.00	13.00	13.00	13.00	14.00	14.00
Goodwill	0%	449	449	449	444	444	444	444	444	444	290	290	290	290	290	105	185	185	185	185	185	185
Liabilities	-1.9%	1,775	1,810	1,773	1,773	1,787	1,808	1,775	1,771	1,779	1,464	1,388	1,377	1,351	679	622	616	608	611	575	192	180
Current Liabilities	-5.1%	610	643	606	355	364	368	315	328	339	323	256	260	248	242	204	203	200	207	178	175	163
Long Term Debt	0.1%	1,142	1,141	1,140	1,387	1,386	1,384	1,383	1,382	1,380	1,114	1,098	1,082	1,066	407	401	395	390	384	379	-	-
LT Debt, Current	0.1%	250	249	249	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
LT Debt, Non Current	-100.0%	-	1,141	1,140	1,387	1,386	1,384	1,383	1,382	1,380	1,114	1,098	1,082	1,066	407	401	395	390	384	379	-	-
Shareholder's Equity	7.3%	280	261	216	176	117	112	78.00	79.00	66.00	325	341	337	340	422	417	410	396	399	394	325	318
Retained Earnings	6.7%	-200	-214	-238	-252	-279	-272	-283	-264	-252	-301	-269	-259	-234	-201	-189	-181	-174	-163	-152	-144	-139
Additional Paid-In Capital	1.1%	480	475	455	429	396	386	364	344	318	626	609	596	573	623	605	590	570	561	548	471	459
Shares Outstanding	0.5%	62.00	62.00	61.00	61.00	60.00	60.00	60.00	59.00	59.00	58.00	58.00	58.00	-	-	-	-	-	-	-	-	-
Float	-	-	-	-	3,034	-	-	-	3,666	-	-	-	5,973	-	-	-	4,285	-	-	-	2,408	-

Cashflow (Last 12 Months)

(In Millions)

Cashflow (Quarterly)																					(In Millions)
Description	(%) Q/Q	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1
Cashflow From Operations	19.6%	50.00	42.00	37.00	25.00	23.00	26.00	24.00	6.00	0.00	22.00	17.00	12.00	29.00	15.00	22.00	10.00	9.00	8.00	10.00	9.00	3.00
Share Based Compensation	6.0%	19.00	18.00	20.00	20.00	20.00	18.00	21.00	21.00	16.00	17.00	17.00	17.00	15.00	14.00	13.00	13.00	9.00	9.00	10.00	8.00	6.00
Cashflow From Investing	601.3%	21.00	-4.19	-11.33	-55.97	9.00	-17.12	-41.18	-166	-171	133	-281	-220	-138	-62.83	-87.84	143	181	-420	11.00	1.00	-0.51
Cashflow From Financing	-235.8%	-10.92	-3.25	6.00	14.00	-10.23	2.00	-0.80	4.00	-2.90	5.00	-0.21	3.00	591	7.00	2.00	8.00	1.00	4.00	444	3.00	1.00

Get Full Access to Grufity – and Unlimited Downloads

Gain full access to fair value, watchlists, stock screener, unlimited page visits, and additional features by joining as a member today for just $1.99.

Try For Just $1.99

BL Income Statement

2024-03-31

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues
Total revenues	$ 157,461	$ 138,984
Cost of revenues
Total cost of revenues	39,097	35,271
Gross profit	118,364	103,713
Operating expenses
Sales and marketing	61,111	61,931
Research and development	25,015	27,105
General and administrative	30,046	28,976
Restructuring costs	444	1,014
Total operating expenses	116,616	119,026
Income (loss) from operations	1,748	(15,313)
Other income (expense)
Interest income	15,360	10,665
Interest expense	(1,469)	(1,455)
Other income, net	13,891	9,210
Income (loss) before income taxes	15,639	(6,103)
Provision for income taxes	869	628
Net income (loss)	14,770	(6,731)
Net income attributable to redeemable non-controlling interest	438	85
Adjustment attributable to redeemable non-controlling interest	3,503	5,192
Net income (loss) attributable to BlackLine, Inc.	$ 10,829	$ (12,008)
Basic net income (loss) per share attributable to BlackLine, Inc. (in usd per share)	$ 0.18	$ (0.20)
Shares used to calculate basic net income (loss) per share (in shares)	61,643	60,187
Diluted net income (loss) per share attributable to BlackLine, Inc. (in usd per share)	$ 0.17	$ (0.20)
Shares used to calculate diluted net income (loss) per share (in shares)	72,893	60,187
Subscription and support
Revenues
Total revenues	$ 149,501	$ 130,426
Cost of revenues
Total cost of revenues	32,052	28,512
Professional services
Revenues
Total revenues	7,960	8,558
Cost of revenues
Total cost of revenues	$ 7,045	$ 6,759

BL Balance Sheet

2024-03-31

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 331,401	$ 271,117
Marketable securities (amortized cost of $913,653 and $932,850 at March 31, 2024 and December 31, 2023, respectively)	913,453	933,355
Accounts receivable, net of allowances of $4,308 and $5,064 at March 31, 2024 and December 31, 2023, respectively	125,613	171,608
Prepaid expenses and other current assets	33,189	31,244
Total current assets	1,403,656	1,407,324
Capitalized software development costs, net	38,982	37,828
Property and equipment, net	13,065	14,867
Intangible assets, net	73,860	79,056
Goodwill	448,965	448,965
Operating lease right-of-use assets	19,196	19,173
Other assets	91,161	93,552
Total assets	2,088,885	2,100,765
Current liabilities:
Accounts payable	1,556	8,623
Accrued expenses and other current liabilities	47,133	59,690
Deferred revenue, current	306,855	320,133
Finance lease liabilities, current	525	778
Operating lease liabilities, current	4,233	4,108
Convertible senior notes, net, current	249,560	249,233
Total current liabilities	609,862	642,565
Finance lease liabilities, noncurrent	0	4
Operating lease liabilities, noncurrent	15,360	15,738
Convertible senior notes, net, noncurrent	1,141,666	1,140,608
Deferred tax liabilities, net	5,251	6,394
Deferred revenue, noncurrent	2,352	904
Other long-term liabilities	660	3,608
Total liabilities	1,775,151	1,809,821
Commitments and contingencies (Note 12)
Redeemable non-controlling interest (Note 3)	33,900	30,063
Stockholders' equity:
Common stock, $0.01 par value, 500,000,000 shares authorized, 61,802,503 and 61,515,105 issued and outstanding at March 31, 2024 and December 31, 2023, respectively	618	615
Additional paid-in capital	480,175	474,863
Accumulated other comprehensive income (loss)	(489)	205
Accumulated deficit	(200,470)	(214,802)
Total stockholders' equity	279,834	260,881
Total liabilities, redeemable non-controlling interest, and stockholders' equity	$ 2,088,885	$ 2,100,765

About Blackline Inc

BlackLine, Inc. provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles high volumes of individual transactions; and task management to create and manage processes and task lists. The company's financial close management solutions also include journal entry that allows users to generate, review, and post manual journal entries; variance analysis that monitors and identifies anomalous fluctuations in balance sheet and income statement account balances; consolidation integrity manager that manages the automated system-to-system tie-out process that occurs during the consolidation phase of the financial close; and compliance, an integrated solution that facilitates compliance-related initiatives, consolidates project management, and provides visibility over control self-assessments and testing. In addition, it offers accounts receivable automation solutions, which include blackline cash application, credit and risk management, collections management, disputes and deductions, team and task management, and AR intelligence solutions. Further, the company provides intercompany create functionality that stores permissions and business logic exceptions by entity, service, and transaction type thereby ensuring both the seller and the buyer of the intercompany transaction are authorized to conduct business; intercompany processing, which records an organization's intercompany transactions; and netting and settlement that generates a real-time settlement matrix, which shows the balance of transactions. The company sells its solutions primarily through direct sales force to multinational corporations, large domestic enterprises, and mid-market companies across various industries. BlackLine, Inc. was incorporated in 2001 and is headquartered in Woodland Hills, California.

CEO	Mr. Owen M. Ryan
WEBSITE	blackline.com
INDUSTRY	Software - Apps
EMPLOYEES	1814

Blackline Inc Frequently Asked Questions

What is the ticker symbol for Blackline Inc? What does BL stand for in stocks?

BL is the stock ticker symbol of Blackline Inc. Every public company that trades on a stock exchange gets a ticker symbol.

What is the market capital of Blackline Inc (BL)?

As of Thu May 09 2024, market cap of Blackline Inc is 3.65 Billion. The market capitalization is calculated by multiplying the stock price with the number of shares outstanding.

What is the fair value of BL stock?

You can check BL's fair value in chart for subscribers.

What is the fair value of BL stock?

You can check BL's fair value in chart for subscribers. The fair value of Blackline Inc is provided for various growth and macro-economic scenarios from very pessimiatic to very optimistic assumptions. These fair values are estimates from Grufity's Fair Value model based on company's past performance. However, past performance of Blackline Inc is no guarantee of future performance. These fairvalue estimates should only be used as one of the inputs in your stock analysis. We provide model's historical fair value estimates for BL so that you know how good or bad the model has been in the past so you can discard it if needed. There are others that provide fair values of stocks such as wallmine, finbox, gurufocus and finviz. Most provide point in time estimates. We provide a history of our models fair value estimates so that you can get a sense of it's usefulness. Otherwise this data point is of little use.

Is Blackline Inc a good stock to buy?

The fair value guage provides a quick view whether BL is over valued or under valued. Whether Blackline Inc is cheap or expensive depends on the assumptions which impact Blackline Inc's fair value. We provide several scenarios of inflation and growth to encompass these range of assumptions for BL.

What is Blackline Inc's Price to Earnings (PE) and Price to sales (PS) ratio?

As of Thu May 09 2024, BL's PE ratio (Price to Earnings) is 48.2 and Price to Sales (PS) ratio is 5.99. The price to earnings and price to sales ratio are two most important valuation metrics for any company. PE ratio tell us the number of years of earnings investors are ready to pay for owning the company. Historically, S&P500 price to earnings ratio has fallen below 12 during periods of gloom and gone past 30 during periods of euphoria. BL PE ratio will change depending on the future growth rate expectations of investors.