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Backblaze, Inc. BLZE Debt-to-equity

Debt-to-equity at other companies

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0.3×0.0×
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-1.3×
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AmazonAMZN
0.5×0.0×
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Cloudflare, Inc.NET
0.2×0.0×
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1.5×
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Alphabet Inc.GOOGL

Other financials

Income statement

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Revenue$38.7M+11.7%
Gross profit$23.5M+22.2%
Operating income-$5.4M+39.0%
Net income-$6.1M+34.1%
EPS (diluted)-$0.10+41.2%

Balance sheet

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Cash & equivalents$26.3M-35.3%
Total debt$62.0M+35.7%
Total equity$84.6M+8.8%
Total assets$192.7M+13.2%

Cash flow

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Operating cash flow$3.4M-32.0%
CapEx$651.0K+29.4%
Free cash flow$2.7M-39.0%

Valuation

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Market cap$805.4M+194%
Enterprise value$841.15M+201%
P/S5.4×+3.3×

Profitability

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Gross margin62.1%+7.1pp
Operating margin-13.4%-5.0pp
Net margin-15%-5.5pp
FCF margin11.4%+2.2pp

Returns & leverage

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Return on equity-27.6%-10.7pp
Current ratio0.0×

Where this comes from

Calculated from Backblaze, Inc.’s reported figures.

Based on the most recent quarter.

The official record: Backblaze, Inc.’s 10-Q, filed May 4, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Backblaze, Inc.'s debt-to-equity?
Backblaze, Inc. (BLZE) reported debt-to-equity of 0.7× in Q1 2026.
How has Backblaze, Inc.'s debt-to-equity changed year-over-year?
Backblaze, Inc.'s debt-to-equity increased by 24.7% year-over-year, from 0.6× to 0.7×.
What is the long-term trend for Backblaze, Inc.'s debt-to-equity?
Over 4 years (2021 to 2025), Backblaze, Inc.'s debt-to-equity has grown at a 43.0% compound annual growth rate (CAGR), from 0.2× to 0.7×.
What does debt-to-equity mean?
Total debt (including capitalized leases and financing obligations) divided by shareholders' equity at the quarter end. Measures how much the company is financed by debt relative to equity.