Backblaze (BLZE) FCF Margin (2020 - 2025)
Backblaze (BLZE) posted FCF Margin of 7.00% for Q3 2025, down 6.62 percentage points from 13.62% a year earlier and down 0.61 percentage points from the prior quarter.
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Analysis
Backblaze (BLZE) FCF Margin (2020 - 2025) Analysis & Trends
For the trailing twelve months through Sep 30, 2025, FCF Margin at Backblaze was 7.90%, down 2.04 percentage points year-over-year; for FY2024, it was 8.46%, up 21.06 percentage points from FY2023.
- Annual FCF Margin shows a four-year change of -11.43 percentage points (FY2020 to FY2024).
- In prior years, Backblaze's FCF Margin was -12.61% in FY2023 (+12.21 pp), -24.81% in FY2022 (-18.82 pp), -5.99% in FY2021 (-25.87 pp) and 19.88% in FY2020.
- Quarterly FCF Margin has run from a low of -40.01% in Q2 2022 to a high of 19.91% in Q4 2020 over five years.
- On a year-over-year basis, FCF Margin increased in six of the last eight quarters, with an average year-over-year change of +15.62 percentage points.
- The strongest year-over-year quarter for FCF Margin in the past five years was Q1 2024, with a gain of 45.10 percentage points; the weakest was Q4 2021, with a drop of 36.65 percentage points.
- According to Business Quant data, FCF Margin for the three prior quarters was 7.61% (Q2 2025), 12.83% (Q1 2025) and 4.16% (Q4 2024).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,949.85 Bn | 3,873.01 Bn | 60.48 Bn | 21.82% |
| 2 | International Business Machines | 228.00 Bn | 178.81 Bn | 9.91 Bn | 13.80% |
| 3 | Cloudflare | 103.51 Bn | 87.04 Bn | 499.52 Mn | 9.71% |
| 4 | Equinix | 97.35 Bn | 85.92 Bn | 1.40 Bn | -23.31% |
| 5 | Nebius | 41.52 Bn | 14.95 Bn | 448.70 Mn | 1,357.29% |
| 6 | CoreWeave | 34.23 Bn | 21.32 Bn | 1.70 Bn | -223.03% |
| 7 | Verisign | 27.83 Bn | 25.04 Bn | 384.60 Mn | 48.96% |
| 8 | Nutanix | 18.34 Bn | 10.03 Bn | 651.35 Mn | 36.66% |
| 9 | GoDaddy | 14.21 Bn | 9.79 Bn | 828.20 Mn | 33.70% |
| 10 | Backblaze | 523.34 Mn | 317.91 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2025 | 7.00% |
| Jun 30, 2025 | 7.61% |
| Mar 31, 2025 | 12.83% |
| Dec 31, 2024 | 4.16% |
| Sep 30, 2024 | 13.62% |
| Jun 30, 2024 | 6.25% |
| Mar 31, 2024 | 9.99% |
| Dec 31, 2023 | 9.75% |
| Sep 30, 2023 | -2.04% |
| Jun 30, 2023 | -28.20% |
| Mar 31, 2023 | -35.11% |
| Dec 31, 2022 | -28.03% |
| Sep 30, 2022 | -22.72% |
| Jun 30, 2022 | -40.01% |
| Mar 31, 2022 | -7.26% |
| Dec 31, 2021 | -16.74% |
| Sep 30, 2021 | 5.55% |
| Jun 30, 2021 | -11.02% |
| Mar 31, 2021 | -0.62% |
| Dec 31, 2020 | 19.91% |
API Access
Backblaze FCF Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=fcf-margin&ticker=BLZE&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "ticker": "BLZE", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=fcf-margin&ticker=BLZE&period=max&api_key=YOUR_API_KEY");
const data = await res.json();