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BACKBLAZE INC-A (BLZE) Stock Fundamental Analysis

NASDAQ:BLZE - US05637B1052 - Common Stock

8.1687 USD
+0.05 (+0.6%)
Last: 8/27/2025, 12:21:06 PM
Fundamental Rating

3

BLZE gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 83 industry peers in the IT Services industry. BLZE may be in some trouble as it scores bad on both profitability and health. 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

BLZE had negative earnings in the past year.
BLZE had a positive operating cash flow in the past year.
In the past 5 years BLZE always reported negative net income.
The reported operating cash flow has been mixed in the past 5 years: BLZE reported negative operating cash flow in multiple 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

The Return On Assets of BLZE (-23.41%) is worse than 83.13% of its industry peers.
With a Return On Equity value of -54.68%, BLZE is not doing good in the industry: 78.31% of the companies in the same industry are doing better.
Industry RankSector Rank
ROA -23.41%
ROE -54.68%
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

BLZE's Gross Margin of 57.25% is fine compared to the rest of the industry. BLZE outperforms 77.11% of its industry peers.
BLZE's Gross Margin has improved in the last couple of years.
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 57.25%
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.
Compared to 1 year ago, BLZE has more shares outstanding
The number of shares outstanding for BLZE has been increased compared to 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 1.10. This is a bad value and indicates that BLZE is not financially healthy and even has some risk of bankruptcy.
BLZE has a worse Altman-Z score (1.10) than 69.88% of its industry peers.
The Debt to FCF ratio of BLZE is 10.70, which is on the high side as it means it would take BLZE, 10.70 years of fcf income to pay off all of its debts.
BLZE's Debt to FCF ratio of 10.70 is in line compared to the rest of the industry. BLZE outperforms 46.99% of its industry peers.
A Debt/Equity ratio of 0.24 indicates that BLZE is not too dependend on debt financing.
BLZE's Debt to Equity ratio of 0.24 is in line compared to the rest of the industry. BLZE outperforms 55.42% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.24
Debt/FCF 10.7
Altman-Z 1.1
ROIC/WACCN/A
WACC9.65%
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 1.08. This is a normal value and indicates that BLZE is financially healthy and should not expect problems in meeting its short term obligations.
With a Current ratio value of 1.08, BLZE is not doing good in the industry: 74.70% of the companies in the same industry are doing better.
BLZE has a Quick Ratio of 1.08. This is a normal value and indicates that BLZE is financially healthy and should not expect problems in meeting its short term obligations.
BLZE's Quick ratio of 1.08 is on the low side compared to the rest of the industry. BLZE is outperformed by 72.29% of its industry peers.
Industry RankSector Rank
Current Ratio 1.08
Quick Ratio 1.08
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 21.24% over the past year.
Looking at the last year, BLZE shows a quite strong growth in Revenue. The Revenue has grown by 19.08% in the last year.
BLZE shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 25.65% yearly.
EPS 1Y (TTM)21.24%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%48%
Revenue 1Y (TTM)19.08%
Revenue growth 3Y23.67%
Revenue growth 5Y25.65%
Sales Q2Q%16.02%

3.2 Future

BLZE is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 28.56% yearly.
The Revenue is expected to grow by 15.45% on average over the next years. This is quite good.
EPS Next Y41.27%
EPS Next 2Y26.61%
EPS Next 3Y28.56%
EPS Next 5YN/A
Revenue Next Year14.57%
Revenue Next 2Y14.27%
Revenue Next 3Y15.45%
Revenue Next 5YN/A

3.3 Evolution

Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
BLZE Yearly Revenue VS EstimatesBLZE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 50M 100M 150M 200M
BLZE Yearly EPS VS EstimatesBLZE Yearly EPS VS EstimatesYearly EPS VS Estimates 2021 2022 2023 2024 2025 2026 2027 0 -0.5 -1 -1.5

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1

4. Valuation

4.1 Price/Earnings Ratio

BLZE reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
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 -20 40 60

4.2 Price Multiples

BLZE's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 143.38
EV/EBITDA N/A
BLZE Per share dataBLZE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 2

4.3 Compensation for Growth

A more expensive valuation may be justified as BLZE's earnings are expected to grow with 28.56% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y26.61%
EPS Next 3Y28.56%

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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 (8/27/2025, 12:21:06 PM)

8.1687

+0.05 (+0.6%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustryIT Services
Earnings (Last)08-07 2025-08-07/bmo
Earnings (Next)11-05 2025-11-05/amc
Inst Owners42.65%
Inst Owner Change11.79%
Ins Owners3.83%
Ins Owner Change3.59%
Market Cap461.53M
Analysts84.29
Price Target11.53 (41.15%)
Short Float %2.65%
Short Ratio2.52
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)2
Avg EPS beat(2)19.62%
Min EPS beat(2)10.72%
Max EPS beat(2)28.53%
EPS beat(4)2
Avg EPS beat(4)-0.45%
Min EPS beat(4)-23.41%
Max EPS beat(4)28.53%
EPS beat(8)5
Avg EPS beat(8)7.96%
EPS beat(12)6
Avg EPS beat(12)4.14%
EPS beat(16)6
Avg EPS beat(16)-4.6%
Revenue beat(2)1
Avg Revenue beat(2)-0.2%
Min Revenue beat(2)-0.9%
Max Revenue beat(2)0.49%
Revenue beat(4)1
Avg Revenue beat(4)-1.11%
Min Revenue beat(4)-2.53%
Max Revenue beat(4)0.49%
Revenue beat(8)1
Avg Revenue beat(8)-0.98%
Revenue beat(12)1
Avg Revenue beat(12)-1.01%
Revenue beat(16)2
Avg Revenue beat(16)-0.73%
PT rev (1m)2.84%
PT rev (3m)-3.42%
EPS NQ rev (1m)11.71%
EPS NQ rev (3m)-3.75%
EPS NY rev (1m)8.14%
EPS NY rev (3m)10.23%
Revenue NQ rev (1m)0.94%
Revenue NQ rev (3m)0.57%
Revenue NY rev (1m)0.6%
Revenue NY rev (3m)1.06%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 3.36
P/FCF 143.38
P/OCF 30.07
P/B 5.8
P/tB 12.32
EV/EBITDA N/A
EPS(TTM)-0.89
EYN/A
EPS(NY)-0.39
Fwd EYN/A
FCF(TTM)0.06
FCFY0.7%
OCF(TTM)0.27
OCFY3.33%
SpS2.43
BVpS1.41
TBVpS0.66
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -23.41%
ROE -54.68%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 57.25%
FCFM 2.34%
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 Turnover0.74
Health
Industry RankSector Rank
Debt/Equity 0.24
Debt/FCF 10.7
Debt/EBITDA N/A
Cap/Depr 43.91%
Cap/Sales 8.84%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.08
Quick Ratio 1.08
Altman-Z 1.1
F-Score6
WACC9.65%
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)21.24%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%48%
EPS Next Y41.27%
EPS Next 2Y26.61%
EPS Next 3Y28.56%
EPS Next 5YN/A
Revenue 1Y (TTM)19.08%
Revenue growth 3Y23.67%
Revenue growth 5Y25.65%
Sales Q2Q%16.02%
Revenue Next Year14.57%
Revenue Next 2Y14.27%
Revenue Next 3Y15.45%
Revenue Next 5YN/A
EBIT growth 1Y21.36%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year260.52%
EBIT Next 3Y70.95%
EBIT Next 5YN/A
FCF growth 1Y108.15%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y195.82%
OCF growth 3Y52.59%
OCF growth 5Y-1.08%