Blend Labs BLND Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 74.9%+2.3pp | 73.8%+1.9pp | 73.4%— | 73.3%— | 72.6%— | |
| Operating margin | -14.7%+15.2pp | -17.6%+24.6pp | -17.7%— | -22.5%— | -30%— | |
| Net margin | -4.2%+22.9pp | -5.5%+31.9pp | -4.2%— | -16.1%— | -27.1%— | |
| EBITDA margin | -11.4%+17.3pp | -14.9%+26.1pp | -15.7%— | -21%— | -28.8%— | |
| Free cash flow margin | -7.6%-6.6pp | -0.1%+19.6pp | -5.9%— | -2.2%— | -1%— | |
| Returns | ||||||
| Return on assets | -3.1%+13.5pp | -3.9%+18.7pp | -2.7%+26.1pp | -10.7%+31.2pp | -16.5%+29.1pp | |
| Efficiency | ||||||
| Asset turnover | 0.7×+0.1× | 0.7×+0.1× | 0.6×— | 0.7×— | 0.6×— | |
| Liquidity | ||||||
| Current ratio | 1.8×-0.6× | 2.5×-0.9× | 2.5×-0.7× | 2.4×-1.0× | 2.4×-1.3× | |
| Quick ratio | 1.8×-0.6× | 2.5×-0.9× | 2.5×-0.7× | 2.4×-1.0× | 2.4×-1.3× | |
| Cash ratio | 0.8×-0.3× | 1.1×+0.2× | 1.3×+0.1× | 0.8×-0.3× | 1.1×-0.9× | |
| Leverage | ||||||
| Debt-to-assets | 0×0.0× | 0×0.0× | 0×0.0× | 0×0.0× | 0×-0.7× | |
| Per Share | ||||||
| Book value per share | -$0.22-230% | -$0.12+47.0% | -$0.05+74.4% | -$0.09+50.5% | -$0.07+53.5% | |
| Valuation | ||||||
| Market capitalization | $392.23M-52.3% | $789.63M-26.7% | $946.53M-0.7% | $868.64M+45.8% | $869.87M+6.2% | |
| Enterprise value | $354.22M-53.5% | $746.05M-28.5% | $888.1M-1.7% | $829.49M+48.5% | $810.31M-8.6% | |
| Price / sales | 3.1×-3.8× | 6.4×-2.9× | 7.8×— | 7.1×— | 7.3×— | |
| EV / sales | 2.8×-3.6× | 6×-3.0× | 7.3×— | 6.8×— | 6.8×— | |
| Free cash flow yield | -2.5%-2.3pp | -0%+2.1pp | -0.8%+3.0pp | -0.3%+9.8pp | -0.1%+10.4pp | |
| Earnings yield | -1.4%+2.6pp | -0.9%+3.2pp | -0.5%+7.1pp | -2.3%+16.6pp | -3.7%+12.7pp |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- What are Blend Labs's profit margins?
- Blend Labs (BLND) runs a 74.9% gross margin and a -14.7% operating margin, with a -4.2% net margin.
- Where do Blend Labs's ratios come from?
- Every ratio is computed from Blend Labs's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.
