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BACKBLAZE INC-A (BLZE) Stock Fundamental Analysis

NASDAQ:BLZE - Nasdaq - US05637B1052 - Common Stock - Currency: USD

5.04  -0.23 (-4.36%)

After market: 5.0202 -0.02 (-0.39%)

Fundamental Rating

3

BLZE gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 82 industry peers in the IT Services industry. Both the profitability and financial health of BLZE have multiple concerns. BLZE is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

In the past year BLZE has reported negative net income.
In the past year BLZE had a positive cash flow from operations.
In the past 5 years BLZE always reported negative net income.
In multiple years BLZE reported negative operating cash flow during the last 5 years.
BLZE Yearly Net Income VS EBIT VS OCF VS FCFBLZE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2019 2020 2021 2022 2023 2024 0 -20M -40M

1.2 Ratios

Looking at the Return On Assets, with a value of -27.50%, BLZE is doing worse than 85.37% of the companies in the same industry.
With a Return On Equity value of -60.18%, BLZE is not doing good in the industry: 80.49% of the companies in the same industry are doing better.
Industry RankSector Rank
ROA -27.5%
ROE -60.18%
ROIC N/A
ROA(3y)-35.95%
ROA(5y)-26.65%
ROE(3y)-90.07%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
BLZE Yearly ROA, ROE, ROICBLZE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2019 2020 2021 2022 2023 2024 0 -200 -400

1.3 Margins

With a decent Gross Margin value of 55.03%, BLZE is doing good in the industry, outperforming 75.61% of the companies in the same industry.
In the last couple of years the Gross Margin of BLZE has grown nicely.
The Profit Margin and Operating Margin are not available for BLZE so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 55.03%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y2.43%
GM growth 5Y1.57%
BLZE Yearly Profit, Operating, Gross MarginsBLZE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2019 2020 2021 2022 2023 2024 0 20 -20 40 -40 -60

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3

2. Health

2.1 Basic Checks

BLZE does not have a ROIC to compare to the WACC, probably because it is not profitable.
BLZE has more shares outstanding than it did 1 year ago.
BLZE has more shares outstanding than it did 5 years ago.
The debt/assets ratio for BLZE has been reduced compared to a year ago.
BLZE Yearly Shares OutstandingBLZE Yearly Shares OutstandingYearly Shares Outstanding 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M 50M
BLZE Yearly Total Debt VS Total AssetsBLZE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2019 2020 2021 2022 2023 2024 50M 100M 150M

2.2 Solvency

BLZE has an Altman-Z score of 0.22. This is a bad value and indicates that BLZE is not financially healthy and even has some risk of bankruptcy.
BLZE has a Altman-Z score of 0.22. This is amonst the worse of the industry: BLZE underperforms 80.49% of its industry peers.
The Debt to FCF ratio of BLZE is 32.95, which is on the high side as it means it would take BLZE, 32.95 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of BLZE (32.95) is comparable to the rest of the industry.
BLZE has a Debt/Equity ratio of 0.21. This is a healthy value indicating a solid balance between debt and equity.
The Debt to Equity ratio of BLZE (0.21) is better than 60.98% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.21
Debt/FCF 32.95
Altman-Z 0.22
ROIC/WACCN/A
WACC9.75%
BLZE Yearly LT Debt VS Equity VS FCFBLZE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2019 2020 2021 2022 2023 2024 0 20M -20M 40M 60M 80M

2.3 Liquidity

A Current Ratio of 1.09 indicates that BLZE should not have too much problems paying its short term obligations.
With a Current ratio value of 1.09, BLZE is not doing good in the industry: 73.17% of the companies in the same industry are doing better.
BLZE has a Quick Ratio of 1.09. This is a normal value and indicates that BLZE is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 1.09, BLZE is doing worse than 71.95% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.09
Quick Ratio 1.09
BLZE Yearly Current Assets VS Current LiabilitesBLZE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M

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6

3. Growth

3.1 Past

BLZE shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 21.71%, which is quite impressive.
Looking at the last year, BLZE shows a very strong growth in Revenue. The Revenue has grown by 21.80%.
The Revenue has been growing by 25.65% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)21.71%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-21.43%
Revenue 1Y (TTM)21.8%
Revenue growth 3Y23.67%
Revenue growth 5Y25.65%
Sales Q2Q%15.5%

3.2 Future

Based on estimates for the next years, BLZE will show a very strong growth in Earnings Per Share. The EPS will grow by 25.73% on average per year.
The Revenue is expected to grow by 13.92% on average over the next years. This is quite good.
EPS Next Y34.58%
EPS Next 2Y25.73%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year13.87%
Revenue Next 2Y13.92%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
BLZE Yearly Revenue VS EstimatesBLZE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 50M 100M 150M
BLZE Yearly EPS VS EstimatesBLZE Yearly EPS VS EstimatesYearly EPS VS Estimates 2021 2022 2023 2024 2025 2026 -0.5 -1 -1.5

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1

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for BLZE. In the last year negative earnings were reported.
Also next year BLZE is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
Industry RankSector Rank
PE N/A
Fwd PE N/A
BLZE Price Earnings VS Forward Price EarningsBLZE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 40 60 80 100

4.2 Price Multiples

BLZE's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 280.76
EV/EBITDA N/A
BLZE Per share dataBLZE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 -1 2

4.3 Compensation for Growth

A more expensive valuation may be justified as BLZE's earnings are expected to grow with 25.73% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y25.73%
EPS Next 3YN/A

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0

5. Dividend

5.1 Amount

No dividends for BLZE!.
Industry RankSector Rank
Dividend Yield N/A

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BACKBLAZE INC-A

NASDAQ:BLZE (6/13/2025, 8:00:02 PM)

After market: 5.0202 -0.02 (-0.39%)

5.04

-0.23 (-4.36%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustryIT Services
Earnings (Last)05-07 2025-05-07/amc
Earnings (Next)08-06 2025-08-06/amc
Inst Owners42.1%
Inst Owner Change5.45%
Ins Owners3.83%
Ins Owner Change4.03%
Market Cap276.54M
Analysts84.62
Price Target11.93 (136.71%)
Short Float %3.04%
Short Ratio2.63
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-6.35%
Min EPS beat(2)-23.41%
Max EPS beat(2)10.72%
EPS beat(4)2
Avg EPS beat(4)-5.56%
Min EPS beat(4)-23.41%
Max EPS beat(4)10.72%
EPS beat(8)5
Avg EPS beat(8)5.07%
EPS beat(12)5
Avg EPS beat(12)1.2%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-1.71%
Min Revenue beat(2)-2.53%
Max Revenue beat(2)-0.9%
Revenue beat(4)0
Avg Revenue beat(4)-1.33%
Min Revenue beat(4)-2.53%
Max Revenue beat(4)-0.38%
Revenue beat(8)0
Avg Revenue beat(8)-1.12%
Revenue beat(12)0
Avg Revenue beat(12)-1.06%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)-5.01%
EPS NQ rev (1m)-2.88%
EPS NQ rev (3m)-13.83%
EPS NY rev (1m)0%
EPS NY rev (3m)14.89%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.11%
Revenue NY rev (1m)0.41%
Revenue NY rev (3m)0.16%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 2.09
P/FCF 280.76
P/OCF 19.71
P/B 3.56
P/tB 7.76
EV/EBITDA N/A
EPS(TTM)-1.01
EYN/A
EPS(NY)-0.41
Fwd EYN/A
FCF(TTM)0.02
FCFY0.36%
OCF(TTM)0.26
OCFY5.07%
SpS2.41
BVpS1.42
TBVpS0.65
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -27.5%
ROE -60.18%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 55.03%
FCFM 0.74%
ROA(3y)-35.95%
ROA(5y)-26.65%
ROE(3y)-90.07%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y2.43%
GM growth 5Y1.57%
F-Score6
Asset Turnover0.78
Health
Industry RankSector Rank
Debt/Equity 0.21
Debt/FCF 32.95
Debt/EBITDA N/A
Cap/Depr 44.71%
Cap/Sales 9.86%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.09
Quick Ratio 1.09
Altman-Z 0.22
F-Score6
WACC9.75%
ROIC/WACCN/A
Cap/Depr(3y)70.19%
Cap/Depr(5y)63.54%
Cap/Sales(3y)16.57%
Cap/Sales(5y)15.12%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)21.71%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-21.43%
EPS Next Y34.58%
EPS Next 2Y25.73%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)21.8%
Revenue growth 3Y23.67%
Revenue growth 5Y25.65%
Sales Q2Q%15.5%
Revenue Next Year13.87%
Revenue Next 2Y13.92%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y21.62%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year256.57%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y102.54%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y177.65%
OCF growth 3Y52.59%
OCF growth 5Y-1.08%