What is Backblaze, Inc.'s net debt / EBITDA?

Backblaze, Inc. (BLZE) reported net debt / EBITDA of 7.9× in Q1 2026.

What does net debt / EBITDA mean?

Net debt (total debt minus cash) divided by trailing-twelve-month EBITDA. Expresses leverage in years — roughly how long it would take to repay net debt out of operating cash earnings.

Backblaze, Inc. BLZE Net debt / EBITDA

Net debt / EBITDA at other companies

MicrosoftMSFT

0.5×0.0×

NetAppNTAP

0.4×-0.1×

AmazonAMZN

0.9×+0.2×

Cloudflare, Inc.NET

-5×-5.4×

Dell TechnologiesDELL

1.5×-0.8×

DigitalOceanDOCN

1.8×-3.8×

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

Debt / equity0.7×+0.1×

Current ratio1×0.0×

Where this comes from

Calculated from Backblaze, Inc.’s reported figures.

net debt/ebitda=7.9×

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 net debt / EBITDA?: Backblaze, Inc. (BLZE) reported net debt / EBITDA of 7.9× in Q1 2026.
What does net debt / EBITDA mean?: Net debt (total debt minus cash) divided by trailing-twelve-month EBITDA. Expresses leverage in years — roughly how long it would take to repay net debt out of operating cash earnings.