Backblaze, Inc. (BLZE) vs Priority Technology Holdings, Inc. (PRTH)

Backblaze, Inc. and Priority Technology Holdings, Inc. are both Software Infrastructure companies. Backblaze, Inc. and Priority Technology Holdings, Inc. are of similar size ($644.9M and $613.4M). Backblaze, Inc. has negative trailing earnings, so its P/E is not meaningful; Priority Technology Holdings, Inc. trades at 11.3×. Backblaze, Inc. grew revenue faster over the last twelve months: 13.9% against 8.91%. Priority Technology Holdings, Inc. has the higher net margin (5.61% vs −13.1%) and the higher return on invested capital (10.3% vs −16.5%). Across the 20 metrics below, Priority Technology Holdings, Inc. leads on 14 and Backblaze, Inc. on 6.

Valuation

Metric BLZE PRTH Software Infrastructure median
P/E n/m 11.33 28.38
P/S 3.34 0.64 2.98
P/B 5.89 n/m 2.93
Price to free cash flow 50.03 39.64 16.28
EV/EBITDA 63.72 7.25 13.92
EV/Sales 3.25 1.55 2.90
Earnings yield (3.96%) 8.82% 0.14%
Free cash flow yield 2.00% 2.52% 1.24%

Profitability

Metric BLZE PRTH Software Infrastructure median
Gross margin 61.97% 39.35% 61.00%
Operating margin (11.61%) 13.77% 0.00%
Net margin (13.07%) 5.61% 0.00%
Free cash flow margin 9.98% 3.42% 1.67%
Return on equity (24.29%) (52.19%) 0.60%
Return on assets (9.97%) 2.48% 0.00%
Return on invested capital (16.49%) 10.26% 0.00%

Growth

Metric BLZE PRTH Software Infrastructure median
Revenue growth (TTM) 13.85% 8.91% 13.41%
EPS growth (last fiscal year) 58.56% 319.35% 27.10%
Revenue growth, 5-year CAGR 22.08% 18.71% 15.57%
Net income growth, 5-year CAGR 0.00% 16.76% 0.00%

Health

Metric BLZE PRTH Software Infrastructure median
Debt to equity 0.34 (14.75) 0.05
Current ratio 1.00 1.10 1.55
Net debt to EBITDA (15.29) 4.59 0.08

Dividend

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

Size

Metric BLZE PRTH Software Infrastructure median
Market cap 613.43m 644.93m 752.37m

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