BLZE
Backblaze, Inc.
BLZE's outlook is improving, though it still trails on the overall score.
NVDA
NVIDIA Corporation
NVDA has the edge over BLZE overall, supported by stronger valuation and lower modeled downside.
BLZE Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Strong | |
| Strong |
BLZE's revenue, cash flow and balance sheet are currently healthy, but its profitability is under pressure.
NVDA Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
NVDA's revenue, profitability, cash flow and balance sheet are all currently strong.
BLZE PE Valuation
BLZE has no meaningful PE right now: it lost money over the past year.
NVDA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 12x | $166 | — |
| Current | 21x | $166 | — |
| Cheap | 44x | $345 | +108% |
| Fair | 65x | $511 | +207% |
| Expensive | 93x | $734 | +342% |
Historical ranges are pointers, not guarantees.
NVDA's PE is in its cheap range at 21x. If earnings grow as analysts expect, today's price would be 12x next year's earnings.
BLZE Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
BLZE has the edge over NVDA on the outlook, with more favorable profitability expectations.
NVDA Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Weakening | |
| Broad | |
| Moderate |
Analysts expect strong earnings and revenue growth for NVDA, but weaker profitability.
BLZE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.31 | — |
| Q3 2026 | -$0.31 | +$0.36 |
| Q2 2026 | -$0.34 | +$0.55 |
| Q1 2026 | -$0.39 | +$0.62 |
| Q4 2025 | -$0.46 | +$0.65 |
| Q3 2025 | -$0.67 | +$0.45 |
| Q2 2025 | -$0.89 | +$0.38 |
| Q1 2025 | -$1.01 | +$0.42 |
| Q4 2024 | -$1.11 | +$0.55 |
BLZE is still losing money, but far less than before: $0.31 per share over the past year, against $1.79 at its worst in late 2023.
NVDA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $13.77 | +74% |
| Q3 2026 | $7.91 | +125% |
| Q2 2026 | $6.53 | +111% |
| Q1 2026 | $4.90 | +67% |
| Q4 2025 | $4.03 | +59% |
| Q3 2025 | $3.51 | +65% |
| Q2 2025 | $3.10 | +81% |
| Q1 2025 | $2.94 | +147% |
| Q4 2024 | $2.54 | +234% |
NVDA has the edge over BLZE on earnings quality, reporting a profit while its opponent remains loss making.
BLZE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $46.7M | +26% |
| Q2 2026 | $42.7M | +18% |
| Q1 2026 | $38.7M | +12% |
| Q4 2025 | $37.8M | +12% |
| Q3 2025 | $37.2M | +14% |
| Q2 2025 | $36.3M | +16% |
| Q1 2025 | $34.6M | +15% |
| Q4 2024 | $33.8M | +18% |
BLZE's revenue has grown year over year every quarter since early 2021: $47M last quarter, up 26% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -3% | +5.9 points |
| Q2 2026 | -9.8% | +8.7 points |
| Q1 2026 | -14% | +12 points |
| Q4 2025 | -12% | +28 points |
| Q3 2025 | -8.9% | +29 points |
| Q2 2025 | -19% | +13 points |
| Q1 2025 | -26% | +9.3 points |
| Q4 2024 | -41% | -0.3 points |
BLZE's operating margin was −3% last quarter, up 5.9 points from the same quarter a year ago.
NVDA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $96.2B | +106% |
| Q2 2026 | $81.6B | +85% |
| Q1 2026 | $68.1B | +73% |
| Q4 2025 | $57B | +62% |
| Q3 2025 | $46.7B | +56% |
| Q2 2025 | $44.1B | +69% |
| Q1 2025 | $39.3B | +78% |
| Q4 2024 | $35.1B | +94% |
NVDA has the edge over BLZE on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 66% | +5.4 points |
| Q2 2026 | 66% | +17 points |
| Q1 2026 | 65% | +3.9 points |
| Q4 2025 | 63% | +0.8 points |
| Q3 2025 | 61% | -1.2 points |
| Q2 2025 | 49% | -16 points |
| Q1 2025 | 61% | -0.5 points |
| Q4 2024 | 62% | +4.9 points |
NVDA has the edge over BLZE on profitability, with a higher operating margin.
BLZE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $6.1M | +134% |
| Q2 2026 | $9.6M | +249% |
| Q1 2026 | $2.7M | -39% |
| Q4 2025 | $9M | +543% |
| Q3 2025 | $2.6M | -41% |
| Q2 2025 | $2.8M | +41% |
| Q1 2025 | $4.4M | +48% |
| Q4 2024 | $1.4M | -50% |
BLZE generated $27M in free cash flow over the past year, up 145% from the year before.
NVDA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $21.4B | +59% |
| Q2 2026 | $48.6B | +86% |
| Q1 2026 | $34.9B | +124% |
| Q4 2025 | $22.1B | +32% |
| Q3 2025 | $13.5B | -0.3% |
| Q2 2025 | $26.2B | +75% |
| Q1 2025 | $15.6B | +38% |
| Q3 2024 | $13.5B | +113% |
NVDA has the edge over BLZE on cash flow, with more consistent year-over-year improvement.
BLZE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +2.9% | +1.7M shares |
| 1 year | +9.8% | +5.6M shares |
| 3 years | +71% | +25.9M shares |
| 5 years | +230% | +43.6M shares |
| Available history | +236% | +43.9M shares |
BLZE has 63M diluted shares, up 9.8% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $566,000 |
| Q1 2026 | $809,000 |
| Q4 2025 | $798,000 |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | — |
| Q3 2020 | — |
BLZE spent $2M buying back its own shares over the past year.
NVDA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -106M shares |
| 1 year | -1% | -247M shares |
| 3 years | -2.8% | -705M shares |
| 5 years | -4.1% | -1B shares |
| Available history | -1.8% | -435M shares |
NVDA has the edge over BLZE on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $19.7B |
| Q2 2026 | $19.3B |
| Q1 2026 | $3.8B |
| Q4 2025 | $12.5B |
| Q3 2025 | $9.7B |
| Q2 2025 | $14.1B |
| Q1 2025 | $7.8B |
| Q4 2024 | $11B |
NVDA spent $55.3B buying back its own shares over the past year, up 30% from the year before.
BLZE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.5x | Very low |
| Q2 2026 | -3.8x | Net Cash |
| Q1 2026 | -5.8x | Net Cash |
| Q4 2025 | -14.8x | Net Cash |
| Q3 2021 | -1.2x | Net Cash |
| Q2 2021 | 4.0x | High |
| Q1 2021 | 0.8x | Very low |
| Q4 2020 | 2.9x | Moderate |
BLZE's net debt is less than a year of its operating earnings (EBITDA), after holding more cash than debt a year ago.
NVDA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.1x | Very low |
| Q2 2026 | -0.0x | Net Cash |
| Q1 2026 | -0.0x | Net Cash |
| Q4 2025 | -0.0x | Net Cash |
| Q3 2025 | -0.0x | Net Cash |
| Q2 2025 | -0.1x | Net Cash |
| Q1 2025 | -0.0x | Very low |
| Q4 2024 | -0.0x | Net Cash |
NVDA has the edge over BLZE on leverage, with a lower net debt burden relative to earnings.
BLZE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 44.4 | Neutral |
| Stochastic | 8.5 | Oversold |
BLZE's weekly RSI is 44 (neutral) and its Stochastic is 8 (oversold).
NVDA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 33.4 | Neutral |
| Stochastic | 18.1 | Oversold |
NVDA's weekly RSI is 33 (neutral) and its Stochastic is 18 (oversold).
BLZE PE vs Technology Sector
BLZE has no meaningful PE right now: it lost money over the past year.
NVDA PE vs Technology Sector
| Metric | NVDA | Sector median | Relative |
|---|---|---|---|
| PE | 21x | 28x | 25% below |
| PE % | 0 | 35 | 35 pts below |
NVDA is trading at 21x earnings, a 25% discount to the Technology sector's median of 28x.
BLZE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $10.2 | 14% below |
| 20 week MA | $13.0 | 33% below |
| 50 week MA | $8.48 | 3.7% above |
| 100 week MA | $7.47 | 18% above |
| 200 week MA | $7.00 | 26% above |
BLZE has the edge over NVDA on trend strength, trading above more of its moving averages.
NVDA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $208.9 | 20% below |
| 20 week MA | $212.0 | 22% below |
| 50 week MA | $199.9 | 17% below |
| 100 week MA | $175.1 | 5.1% below |
| 200 week MA | $123.6 | 34% above |
NVDA has fallen below most of its moving averages, though it's still 34% above its 200-week average.
BLZE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $22.0 | $18.7 | -15% |
| 2022 | $18.7 | $5.67 | -70% |
| 2023 | $5.67 | $7.59 | +34% |
| 2024 | $7.59 | $6.23 | -18% |
| 2025 | $6.23 | $4.84 | -22% |
| 2026 YTD | $4.84 | $8.79 | +82% |
BLZE has the edge over NVDA on returns for 2026, with the stronger performance.
NVDA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $5.92 | $13.0 | +119% |
| 2021 | $13.0 | $29.6 | +128% |
| 2022 | $29.6 | $15.2 | -49% |
| 2023 | $15.2 | $49.5 | +226% |
| 2024 | $49.5 | $137.0 | +177% |
| 2025 | $137.0 | $190.5 | +39% |
| 2026 YTD | $190.5 | $166.2 | -13% |
NVDA's yearly returns have swung widely, from +226% in 2023 to −49% in 2022. It's down 13% so far in 2026.