Backblaze (BLZE) FCF Margin (2020 - 2025)
Backblaze (BLZE) recorded quarterly FCF Margin of 3.07% in Q3 2025, down 59.67% quarter-over-quarter from 7.61% in Q2 2025, and down 68.0% on a YoY basis from 9.59% in Q3 2024.
Backblaze (BLZE) FCF Margin (2020 - 2025) Analysis & Trends
Backblaze's FCF Margin history runs 6 years deep, the most recent figure standing at 3.07% for Q3 2025.
- In Q3 2025, FCF Margin fell 68.0% year-over-year to 3.07%; the TTM figure through Sep 2025 stood at 13.46% (up 626.0% YoY), while the FY2024 annual figure was 8.46%, up 2106.0% from the prior year.
- FCF Margin was 3.07% for Q3 2025 at Backblaze, down from 7.61% in the prior quarter.
- In the past five years, FCF Margin ranged from a high of 43.81% in Q3 2021 to a low of 46.56% in Q2 2023.
- Historically, FCF Margin has averaged 3.54% across 5 years, with a median of 7.26% in 2022.
- The sharpest annual moves came in 2022 and 2023: FCF Margin plunged 5328 bps in 2022, then surged 4352 bps in 2023.
- A 5-year view of FCF Margin shows it stood at 31.14% in 2021, then soared by 59 bps to 12.91% in 2022, then soared by 337 bps to 30.61% in 2023, then climbed by 4 bps to 31.84% in 2024, then plunged by 90 bps to 3.07% in 2025.
- The last three FCF Margin figures came in at 3.07% (Q3 2025), 7.61% (Q2 2025), and 12.83% (Q1 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 2,903.35 Bn | 2,825.07 Bn | 56.06 Bn | 19.07% |
| 2 | Alarum Technologies | 1,127.45 Bn | 1,113.30 Bn | 7.23 Mn | - |
| 3 | Oracle | 528.84 Bn | 490.27 Bn | 15.14 Bn | 55.23% |
| 4 | Palantir Technologies | 306.36 Bn | 298.44 Bn | 1.42 Bn | 54.62% |
| 5 | Palo Alto Networks | 194.33 Bn | 189.79 Bn | 1.91 Bn | 14.80% |
| 6 | CrowdStrike Holdings | 171.19 Bn | 168.13 Bn | 993.68 Mn | 30.29% |
| 7 | Fortinet | 108.13 Bn | 104.84 Bn | 1.49 Bn | 55.21% |
| 8 | Synopsys | 86.21 Bn | 86.09 Bn | 1.77 Bn | 34.10% |
| 9 | Cloudflare | 80.35 Bn | 79.41 Bn | 455.60 Mn | 14.55% |
| 10 | Backblaze | - | - | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Sep 30, 2025 | 3.07% |
| Jun 30, 2025 | 7.61% |
| Mar 31, 2025 | 12.83% |
| Dec 31, 2024 | 31.84% |
| Sep 30, 2024 | 3.75% |
| Jun 30, 2024 | -13.35% |
| Mar 31, 2024 | 9.99% |
| Dec 31, 2023 | 30.61% |
| Sep 30, 2023 | -16.34% |
| Jun 30, 2023 | -46.56% |
| Mar 31, 2023 | -25.98% |
| Dec 31, 2022 | -12.91% |
| Sep 30, 2022 | -9.47% |
| Jun 30, 2022 | -36.13% |
| Mar 31, 2022 | -7.26% |
| Dec 31, 2021 | -31.14% |
| Sep 30, 2021 | 43.81% |
| Jun 30, 2021 | -11.02% |
| Mar 31, 2021 | -0.62% |
| Dec 31, 2020 | 2.79% |