Backblaze, Inc. (BLZE) vs Horizon Quantum Holdings Ltd. (HQ)

Backblaze, Inc. and Horizon Quantum Holdings Ltd. are both Software Infrastructure companies. Horizon Quantum Holdings Ltd. is the larger, with a market value of $752.4M against $613.4M — 1.2× the size. Horizon Quantum Holdings Ltd. has the higher net margin (0.00% vs −13.1%) and the higher return on invested capital (0.00% vs −16.5%). Across the 13 metrics below, Backblaze, Inc. leads on 8 and Horizon Quantum Holdings Ltd. on 5.

Valuation

Metric BLZE HQ Software Infrastructure median
P/E n/m n/m 28.38
P/S 3.34 n/m 2.98
P/B 5.89 14.98 2.93
Price to free cash flow 50.03 n/m 16.28
EV/EBITDA 63.72 n/m 13.92
EV/Sales 3.25 n/m 2.90
Earnings yield (3.96%) (107.08%) 0.14%
Free cash flow yield 2.00% (1.80%) 1.24%

Profitability

Metric BLZE HQ Software Infrastructure median
Gross margin 61.97% — 61.00%
Operating margin (11.61%) 0.00% 0.00%
Net margin (13.07%) 0.00% 0.00%
Free cash flow margin 9.98% 0.00% 1.67%
Return on equity (24.29%) (1,057.18%) 0.60%
Return on assets (9.97%) (170.78%) 0.00%
Return on invested capital (16.49%) 0.00% 0.00%

Growth

Metric BLZE HQ Software Infrastructure median
Revenue growth (TTM) 13.85% — 13.41%
EPS growth (last fiscal year) 58.56% (2,075.05%) 27.10%
Revenue growth, 5-year CAGR 22.08% — 15.57%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric BLZE HQ Software Infrastructure median
Debt to equity 0.34 0.00 0.05
Current ratio 1.00 33.84 1.55
Net debt to EBITDA (15.29) (0.54) 0.08

Dividend

Metric BLZE HQ Software Infrastructure median
Dividend yield — — 1.20%
Payout ratio — — 0.29

Size

Metric BLZE HQ Software Infrastructure median
Market cap 613.43m 752.37m 752.37m

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