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BACKBLAZE INC-A (BLZE) Stock Fundamental Analysis

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

5.35  0 (0%)

After market: 5.32 -0.03 (-0.56%)

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. BLZE has a bad profitability rating. Also its financial health evaluation is rather negative. While showing a medium growth rate, BLZE is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

BLZE had negative earnings in the past year.
BLZE had a positive operating cash flow in the past year.
BLZE had negative earnings in each of the past 5 years.
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

BLZE has a Return On Assets of -27.50%. This is amonst the worse of the industry: BLZE underperforms 84.15% of its industry peers.
BLZE's Return On Equity of -60.18% is on the low side compared to the rest of the industry. BLZE is outperformed by 79.27% of its industry peers.
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

The Gross Margin of BLZE (55.03%) is better than 76.83% of its industry peers.
In the last couple of years the Gross Margin of BLZE has grown nicely.
BLZE does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
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.
The number of shares outstanding for BLZE has been increased compared to 1 year ago.
BLZE has more shares outstanding than it did 5 years ago.
BLZE has a better debt/assets ratio than last year.
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

Based on the Altman-Z score of 0.25, we must say that BLZE is in the distress zone and has some risk of bankruptcy.
BLZE has a worse Altman-Z score (0.25) than 76.83% of its industry peers.
BLZE has a debt to FCF ratio of 32.95. This is a negative value and a sign of low solvency as BLZE would need 32.95 years to pay back of all of its debts.
BLZE has a Debt to FCF ratio (32.95) which is comparable to the rest of the industry.
A Debt/Equity ratio of 0.21 indicates that BLZE is not too dependend on debt financing.
BLZE has a Debt to Equity ratio of 0.21. This is comparable to the rest of the industry: BLZE outperforms 59.76% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.21
Debt/FCF 32.95
Altman-Z 0.25
ROIC/WACCN/A
WACC10.11%
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

BLZE has a Current 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 Current ratio, with a value of 1.09, BLZE is doing worse than 73.17% of the companies in the same industry.
A Quick Ratio of 1.09 indicates that BLZE should not have too much problems paying its short term obligations.
BLZE has a Quick ratio of 1.09. This is in the lower half of the industry: BLZE underperforms 71.95% of its industry peers.
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

The Earnings Per Share has grown by an impressive 21.71% over the past year.
The Revenue has grown by 21.80% in the past year. This is a very strong growth!
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 23.82% on average per year.
BLZE is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 13.99% yearly.
EPS Next Y36.06%
EPS Next 2Y23.82%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year13.88%
Revenue Next 2Y13.99%
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.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for BLZE. No positive earnings are expected for the next year.
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

4.2 Price Multiples

The rest of the industry has a similar Price/Free Cash Flow ratio as BLZE.
Industry RankSector Rank
P/FCF 298.03
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 23.82% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y23.82%
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 (8/6/2025, 8:10:44 PM)

After market: 5.32 -0.03 (-0.56%)

5.35

0 (0%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustryIT Services
Earnings (Last)05-07 2025-05-07/amc
Earnings (Next)08-07 2025-08-07/bmo
Inst Owners42.1%
Inst Owner Change1.58%
Ins Owners3.83%
Ins Owner Change3.99%
Market Cap293.55M
Analysts84.29
Price Target11.21 (109.53%)
Short Float %3.18%
Short Ratio3.47
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)-4.93%
PT rev (3m)-6.09%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-2.88%
EPS NY rev (1m)0%
EPS NY rev (3m)2.27%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.04%
Revenue NY rev (1m)0.01%
Revenue NY rev (3m)0.54%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 2.22
P/FCF 298.03
P/OCF 20.92
P/B 3.77
P/tB 8.24
EV/EBITDA N/A
EPS(TTM)-1.01
EYN/A
EPS(NY)-0.46
Fwd EYN/A
FCF(TTM)0.02
FCFY0.34%
OCF(TTM)0.26
OCFY4.78%
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 0.25
F-Score6
WACC10.11%
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 Y36.06%
EPS Next 2Y23.82%
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 Year13.88%
Revenue Next 2Y13.99%
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%