Backblaze (BLZE) Return on Capital Employed [ROCE] (2021 - 2025)
Backblaze's Return on Capital Employed [ROCE] came in at -24.79% for Q3 2025, up 35.84 percentage points from -60.62% a year earlier and up 9.88 percentage points from the prior quarter.
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Analysis
Backblaze (BLZE) Return on Capital Employed [ROCE] (2021 - 2025) Analysis & Trends
For FY2024, Backblaze's Return on Capital Employed [ROCE] was -51.25%, up 16.88 percentage points from FY2023.
- Return on Capital Employed [ROCE] carries a three-year change of -21.87 percentage points (FY2021 to FY2024).
- Going back by year, Return on Capital Employed [ROCE] was -68.14% in FY2023 (-20.85 pp), -47.29% in FY2022 (-17.90 pp) and -29.38% in FY2021.
- The Q3 2025 figure represents the highest quarterly Return on Capital Employed [ROCE] since Q1 2022.
- Year-over-year, Return on Capital Employed [ROCE] has increased for six consecutive quarters, with an average year-over-year change of +12.59 percentage points over the last eight quarters.
- The fastest year-over-year change in Return on Capital Employed [ROCE] over five years came in Q3 2025 (a gain of 35.84 percentage points), and the weakest in Q3 2023 (a drop of 40.86 percentage points).
- Business Quant data shows BLZE's Return on Capital Employed [ROCE] at -34.67% (Q2 2025), -40.54% (Q1 2025) and -49.99% (Q4 2024) in the three quarters before Q3 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,843.70 Bn | 3,766.85 Bn | 60.48 Bn | 27.85% |
| 2 | International Business Machines | 209.74 Bn | 160.64 Bn | 9.91 Bn | 9.40% |
| 3 | Cloudflare | 112.41 Bn | 95.94 Bn | 499.52 Mn | -9.60% |
| 4 | Equinix | 101.21 Bn | 89.76 Bn | 1.40 Bn | 5.75% |
| 5 | Nebius | 61.44 Bn | 34.87 Bn | 448.70 Mn | -2.94% |
| 6 | CoreWeave | 49.38 Bn | 36.47 Bn | 1.70 Bn | -0.51% |
| 7 | Verisign | 26.06 Bn | 23.28 Bn | 384.60 Mn | - |
| 8 | Nutanix | 19.56 Bn | 11.24 Bn | 651.35 Mn | 10.69% |
| 9 | Akamai Technologies | 15.64 Bn | 9.05 Bn | 613.75 Mn | 4.33% |
| 10 | Backblaze | 828.57 Mn | 623.15 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2025 | -24.79% |
| Jun 30, 2025 | -34.67% |
| Mar 31, 2025 | -40.54% |
| Dec 31, 2024 | -49.99% |
| Sep 30, 2024 | -60.62% |
| Jun 30, 2024 | -63.54% |
| Mar 31, 2024 | -67.80% |
| Dec 31, 2023 | -76.06% |
| Sep 30, 2023 | -81.20% |
| Jun 30, 2023 | -64.22% |
| Mar 31, 2023 | -56.43% |
| Dec 31, 2022 | -48.89% |
| Sep 30, 2022 | -40.34% |
| Jun 30, 2022 | -31.50% |
| Mar 31, 2022 | -24.56% |
| Dec 31, 2021 | -28.08% |
API Access
Backblaze Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=BLZE&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=BLZE&period=max&api_key=YOUR_API_KEY");
const data = await res.json();