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Backblaze, Inc. BLZE Return on invested capital

Return on invested capital at other companies

Microsoft logo
MicrosoftMSFT
26.7%-1.2pp
NetApp logo
NetAppNTAP
68.2%+5.9pp
Amazon logo
AmazonAMZN
14%-3.8pp
Cloudflare, Inc. logo
Cloudflare, Inc.NET
-19.3%+8.7pp
Dell Technologies logo
Dell TechnologiesDELL
46.8%+17.8pp
DigitalOcean logo
DigitalOceanDOCN
11.9%+2.3pp

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 ratio0.0×

Where this comes from

Calculated from Backblaze, Inc.’s reported figures.

Based on trailing twelve months.

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 return on invested capital?
Backblaze, Inc. (BLZE) reported return on invested capital of -19.7% in Q1 2026.
How has Backblaze, Inc.'s return on invested capital changed year-over-year?
Backblaze, Inc.'s return on invested capital increased by 65.1% year-over-year, from -56.5% to -19.7%.
What is the long-term trend for Backblaze, Inc.'s return on invested capital?
Over 3 years (2022 to 2025), Backblaze, Inc.'s return on invested capital has grown at a -34.9% compound annual growth rate (CAGR), from -89.2% to -24.6%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.