Fact based stock research
Backblaze (NasdaqGM:BLZE)
US05637B1052
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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".
Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".
Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.
Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.
(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).
(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.
Backblaze stock research in summary
ANALYSIS: With an Obermatt Combined Rank of 41 (worse than 59% compared with investment alternatives), Backblaze (Internet Services & Infrastructure, USA) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of Backblaze are low in value (priced high) with a consolidated Value Rank of 45 (worse than 55% of alternatives), and are riskily financed (Safety Rank of 29, which means above-average debt burdens) but show above-average growth (Growth Rank of 67). ...read more
RECOMMENDATION: A Combined Rank of 41, is a hold recommendation based on Backblaze's financial characteristics. As the company Backblaze shows low value with an Obermatt Value Rank of 45 (55% of comparable investments are less expensive), investors should look at the other ranks. In this case, growth is expected to be above-average, better than 67% of comparable companies (Obermatt Growth Rank is 67). This is a typical case. Companies with above average growth tend to cost more than stocks with slower growth expectations. If this is a high-growth company, the low Obermatt Safety Rank of 29 is a good sign. The more debt a well-performing company has, the higher the returns to shareholders. However, if growth turns negative or interest rates increase, high debt may become a burden. If you believe the future is bright for Backblaze, even a low-value company (in terms of its key financial indicators) can be a good investment. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more
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360° Viewnew| Country | USA |
| Industry | Internet Services & Infrastructure |
| Index | NASDAQ |
| Size class | X-Small |
31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.
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Review the performance ranks of the individual metrics that form each investment strategy.
Research History: Backblaze
| RESEARCH HISTORY | 2022 | 2023 | 2024 | 2025 | ||||
|---|---|---|---|---|---|---|---|---|
| VALUE | ||||||||
| VALUE | 79 |
|
64 |
|
43 |
|
45 |
|
| GROWTH | ||||||||
| GROWTH | 41 |
|
27 |
|
51 |
|
67 |
|
| SAFETY | ||||||||
| SAFETY | 7 |
|
12 |
|
1 |
|
29 |
|
| SENTIMENT | ||||||||
| SENTIMENT | 9 |
|
32 |
|
42 |
|
new |
|
| 360° VIEW | ||||||||
| 360° VIEW | 5 |
|
4 |
|
18 |
|
new |
|
Combined financial peformance in Detail
ANALYSIS: With an Obermatt Combined Rank of 41 (worse than 59% compared with investment alternatives), Backblaze (Internet Services & Infrastructure, USA) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of Backblaze are low in value (priced high) with a consolidated Value Rank of 45 (worse than 55% of alternatives), and are riskily financed (Safety Rank of 29, which means above-average debt burdens) but show above-average growth (Growth Rank of 67). ...read more
RECOMMENDATION: A Combined Rank of 41, is a hold recommendation based on Backblaze's financial characteristics. As the company Backblaze shows low value with an Obermatt Value Rank of 45 (55% of comparable investments are less expensive), investors should look at the other ranks. In this case, growth is expected to be above-average, better than 67% of comparable companies (Obermatt Growth Rank is 67). This is a typical case. Companies with above average growth tend to cost more than stocks with slower growth expectations. If this is a high-growth company, the low Obermatt Safety Rank of 29 is a good sign. The more debt a well-performing company has, the higher the returns to shareholders. However, if growth turns negative or interest rates increase, high debt may become a burden. If you believe the future is bright for Backblaze, even a low-value company (in terms of its key financial indicators) can be a good investment. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more
| RESEARCH HISTORY | 2022 | 2023 | 2024 | 2025 | ||||
|---|---|---|---|---|---|---|---|---|
| VALUE | ||||||||
| VALUE | 79 |
|
64 |
|
43 |
|
45 |
|
| GROWTH | ||||||||
| GROWTH | 41 |
|
27 |
|
51 |
|
67 |
|
| SAFETY | ||||||||
| SAFETY | 7 |
|
12 |
|
1 |
|
29 |
|
| COMBINED | ||||||||
| COMBINED | 28 |
|
4 |
|
15 |
|
41 |
|
Value Metrics in Detail
ANALYSIS: With an Obermatt Value Rank of 45 (worse than 55% compared with alternatives), Backblaze shares are more expensive than the average comparable stock. The Value Rank is based on consolidating four value indicators, with three out of four indicators above average for Backblaze. Price-to-Sales (P/S) is 68, which means that the stock price compared with what market professionals expect for future sales is lower than for 68% of comparable companies, indicating a good value regarding Backblaze's revenue size. The same is valid for expected Price to Profits (or Price / Earnings, P/E), more favorable than for 57% of alternatives, and it's also true for the Price-to-Book Capital ratio (also referred to as market-to-book ratio) with a Price-to-Capital Rank of 58. But, compared with other companies in the same industry, dividend yields are expected to be lower than average; only 1% of all competitors have even lower dividend yields than Backblaze (a Dividend Yield Rank of 1). 99% alternative investments in the same business provide a higher dividend yield. ...read more
RECOMMENDATION: The overall picture with a consolidated Value Rank of 45, is a hold recommendation based on Backblaze's stock price compared with the company's operational size and dividend yields. The below-average dividend yield may be a good sign, as it could mean the company has more attractive investment opportunities for the generated cash than to pay it out as dividends. A low dividend yield can also indicate a growth phase. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more
| VALUE METRICS | 2022 | 2023 | 2024 | 2025 | ||||
|---|---|---|---|---|---|---|---|---|
| PRICE VS. REVENUES (P/S) | ||||||||
| PRICE VS. REVENUES (P/S) | 62 |
|
75 |
|
70 |
|
68 |
|
| PRICE VS. PROFITS (P/E) | ||||||||
| PRICE VS. PROFITS (P/E) | 57 |
|
57 |
|
57 |
|
57 |
|
| PRICE VS. CAPITAL (Market-to-Book) | ||||||||
| PRICE VS. CAPITAL (Market-to-Book) | 98 |
|
45 |
|
36 |
|
58 |
|
| DIVIDEND YIELD | ||||||||
| DIVIDEND YIELD | 1 |
|
1 |
|
1 |
|
1 |
|
| CONSOLIDATED RANK: VALUE | ||||||||
| CONSOLIDATED RANK: VALUE | 79 |
|
64 |
|
43 |
|
45 |
|
Growth Metrics in Detail
ANALYSIS: With an Obermatt Growth Rank of 67 (better than 67% compared with alternatives), Backblaze shows an above-average growth dynamic in its industry. Investors also speak of positive momentum. The Growth Rank is based on consolidating four value indicators, with all but one indicator above average for Backblaze. Sales Growth has a value of 81 which means that currently professionals expect the company to grow more than 81% of its competitors. Profit Growth with a value of 69 and Capital Growth with a rank of 58 means that currently, professionals expect the company to grow both profits and invested capital more than of its competitors. But Stock Returns has only a rank of 41, which means that stock returns have recently been below 59% of alternative investments. ...read more
RECOMMENDATION: The overall picture with a consolidated Growth Rank of 67, is a buy recommendation for growth and momentum investors. Backblaze has only one below-average growth indicator, the stock returns. This is probably the least reliable growth indicator, because it measures company and investor expectations at the same time. The three other growth indicators, which are all positive for Backblaze, are more reliable measures of growth momentum. For this reason, the company seems to be on a good trajectory, unless you think the current period is not representative, because of unique events that will not be repeated in the future. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case. ...read more
| GROWTH METRICS | 2022 | 2023 | 2024 | 2025 | ||||
|---|---|---|---|---|---|---|---|---|
| REVENUE GROWTH | ||||||||
| REVENUE GROWTH | 67 |
|
86 |
|
66 |
|
81 |
|
| PROFIT GROWTH | ||||||||
| PROFIT GROWTH | 95 |
|
14 |
|
63 |
|
69 |
|
| CAPITAL GROWTH | ||||||||
| CAPITAL GROWTH | 1 |
|
1 |
|
70 |
|
58 |
|
| STOCK RETURNS | ||||||||
| STOCK RETURNS | 29 |
|
65 |
|
13 |
|
41 |
|
| CONSOLIDATED RANK: GROWTH | ||||||||
| CONSOLIDATED RANK: GROWTH | 41 |
|
27 |
|
51 |
|
67 |
|
Safety Metrics in Detail
ANALYSIS: With an Obermatt Safety Rank of 29 (better than 29% compared with alternatives), the company Backblaze has financing practices on the riskier side, which means that their overall debt burden is above the industry average. This doesn't mean that the business of Backblaze is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with all three metrics below average for Backblaze. Liquidity is at 24, meaning that the company generates less profit to service its debt than 76% of its competitors. This indicates that the company is on the riskier side when it comes to debt service. Even worse, Leverage is at a rank of 39, meaning the company has an above-average debt-to-equity ratio. It has more debt than 61% of its competitors. Finally, Refinancing is at a rank of 33 which means that the portion of the debt about to be refinanced is above average. It has more debt in the refinancing stage than 67% of its competitors. ...read more
RECOMMENDATION: With a consolidated Safety Rank of 29 (worse than 71% compared with alternatives), Backblaze has a financing structure that is riskier than that of its competitors. This combination is rather dangerous in most situations. Only very promising companies with bright future outlooks and stellar reputations can operate with such risky financing. Investors should look at Obermatt’s Value, Growth, and Sentiment Ranks to confirm a very positive outlook or be careful with investing in stocks of Backblaze because it may suffer significantly in case of future difficulties. ...read more
| SAFETY METRICS | 2022 | 2023 | 2024 | 2025 | ||||
|---|---|---|---|---|---|---|---|---|
| LEVERAGE | ||||||||
| LEVERAGE | 5 |
|
43 |
|
32 |
|
39 |
|
| REFINANCING | ||||||||
| REFINANCING | 5 |
|
9 |
|
8 |
|
33 |
|
| LIQUIDITY | ||||||||
| LIQUIDITY | 52 |
|
33 |
|
22 |
|
24 |
|
| CONSOLIDATED RANK: SAFETY | ||||||||
| CONSOLIDATED RANK: SAFETY | 7 |
|
12 |
|
1 |
|
29 |
|
Sentiment Metrics in Detail
| SENTIMENT | 2022 | 2023 | 2024 | 2025 | ||||
|---|---|---|---|---|---|---|---|---|
| ANALYST OPINIONS | ||||||||
| ANALYST OPINIONS | n/a |
|
100 |
|
97 |
|
new |
|
| OPINIONS CHANGE | ||||||||
| OPINIONS CHANGE | 23 |
|
50 |
|
62 |
|
new |
|
| PRO HOLDINGS | ||||||||
| PRO HOLDINGS | 1 |
|
32 |
|
26 |
|
new |
|
| MARKET PULSE | ||||||||
| MARKET PULSE | 12 |
|
3 |
|
7 |
|
new |
|
| CONSOLIDATED RANK: SENTIMENT | ||||||||
| CONSOLIDATED RANK: SENTIMENT | 9 |
|
32 |
|
42 |
|
new |
|
Free stock analysis by the purely fact based Obermatt Method for Backblaze from July 31, 2025.
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