Backblaze (BLZE) Invested Capital (2020 - 2025)
Backblaze (BLZE) reported Invested Capital of $85.28 million for Q3 2025, up 79.5% from $47.51 million a year earlier.
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Analysis
Backblaze (BLZE) Invested Capital (2020 - 2025) Analysis & Trends
For FY2024, Backblaze posted Invested Capital of $77.62 million, up 58.2% from FY2023.
- By year, Invested Capital came in at $49.07 million in FY2023 (-32.8%), $73.05 million in FY2022 (-23.5%), $95.49 million in FY2021 and -$4.57 million in FY2020.
- The Q3 2025 figure ranks as the highest quarterly Invested Capital since Q4 2021.
- Year over year, Invested Capital gained in two of the last six quarters, with growth averaging 8.5%.
- The high point for year-over-year Invested Capital in five years was Q3 2025 (growth of 79.5%); the low point was Q4 2023 (a decline of 32.8%).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,809.31 Bn | 3,732.47 Bn | 60.48 Bn | 482.68 Bn |
| 2 | International Business Machines | 207.26 Bn | 158.16 Bn | 9.91 Bn | 96.53 Bn |
| 3 | Cloudflare | 111.87 Bn | 95.40 Bn | 499.52 Mn | 2.91 Bn |
| 4 | Equinix | 99.81 Bn | 88.37 Bn | 1.40 Bn | 34.07 Bn |
| 5 | Nebius | 59.68 Bn | 33.11 Bn | 448.70 Mn | 18.89 Bn |
| 6 | CoreWeave | 48.00 Bn | 35.10 Bn | 1.70 Bn | 8.69 Bn |
| 7 | Verisign | 25.49 Bn | 22.71 Bn | 384.60 Mn | 80.30 Mn |
| 8 | Nutanix | 19.05 Bn | 10.74 Bn | 651.35 Mn | - |
| 9 | Akamai Technologies | 15.27 Bn | 8.68 Bn | 613.75 Mn | 6.45 Bn |
| 10 | Backblaze | 807.22 Mn | 601.80 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2025 | 85.28 Mn |
| Dec 31, 2024 | 77.62 Mn |
| Sep 30, 2024 | 47.51 Mn |
| Jun 30, 2024 | 49.78 Mn |
| Mar 31, 2024 | 52.14 Mn |
| Dec 31, 2023 | 49.07 Mn |
| Sep 30, 2023 | 53.44 Mn |
| Jun 30, 2023 | 62.02 Mn |
| Mar 31, 2023 | 67.87 Mn |
| Dec 31, 2022 | 73.05 Mn |
| Sep 30, 2022 | 79.07 Mn |
| Dec 31, 2021 | 95.49 Mn |
| Sep 30, 2021 | -14.91 Mn |
| Dec 31, 2020 | -4.57 Mn |
API Access
Backblaze Invested Capital 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=invested-capital&ticker=BLZE&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "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=invested-capital&ticker=BLZE&period=max&api_key=YOUR_API_KEY");
const data = await res.json();