Blend Labs, Inc. (BLND) Key Metrics
BLND valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $212.9M
- Enterprise value
- $222.1M
- P/E (TTM)
- —
- Forward P/E
- 55.9
- PEG ratio
- —
- Price / sales
- 1.6 10-yr median 6.4
- Price / book
- 2.0
- EV / EBITDA
- 20.5
- Dividend yield
- —
- Beta
- 1.08
BLND key metrics, 2019–2025
Fiscal year ended December 31, 2025 · U.S. dollarsBLND valuation Price multiples at each fiscal year-end price.
BLND returns How much profit the business earns on the capital it uses.
BLND per-share figures Results divided by the shares outstanding at year-end.
BLND financial health Debt, liquidity and how easily interest is covered.
BLND efficiency & capital use Working capital cycle and where the cash goes.
BLND valuation history
BLND returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
BLND debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
BLND cash returned to shareholders
BLND price vs earnings per share
BLND key metrics
2019–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Valuation | |||||||
| Market capitalization | $787.2M | $1.07B | $625.3M | $337.2M | $1.69B | — | — |
| Enterprise value | $879.9M | $974.4M | $638.0M | $215.0M | $1.38B | — | — |
| Price / sales | 6.4 | 6.6 | 4.0 | 1.4 | 7.2 | — | — |
| Price / book | — | — | — | 2.7 | 2.2 | — | — |
| Price / operating cash flow | 68.4 | — | — | — | — | — | — |
| EV / sales | 7.1 | 6.0 | 4.1 | 0.9 | 5.9 | — | — |
| EV / EBITDA | 299.2 | — | — | — | — | — | — |
| Earnings yield | −1.0% | −4.6% | −29.6% | −227.9% | −10.1% | — | — |
| Free cash flow yield | −0.0% | −2.1% | −20.5% | −57.1% | −7.7% | — | — |
| Dividend yield | — | — | — | — | 12.9% | — | — |
| Shareholder yield (dividends + buybacks) | 3.2% | 0.0% | 1.0% | 0.1% | 12.9% | — | — |
| Share price at fiscal year-end | $3.04 | $4.21 | $2.55 | $1.44 | $7.34 | — | — |
| Per share | |||||||
| Revenue per share | $0.48 | $0.64 | $0.64 | $1.00 | $1.02 | $0.44 | $0.23 |
| Earnings per share | −$0.03 | −$0.20 | −$0.76 | −$3.28 | −$0.74 | −$0.34 | −$0.37 |
| Operating cash flow per share | $0.04 | −$0.05 | −$0.52 | −$0.81 | −$0.55 | −$0.30 | −$0.27 |
| Free cash flow per share | −$0.00 | −$0.09 | −$0.52 | −$0.82 | −$0.56 | −$0.30 | −$0.27 |
| Cash per share | $0.26 | $0.39 | $0.56 | $1.51 | $2.38 | $0.69 | $0.58 |
| Book value per share | −$0.12 | −$0.22 | −$0.08 | $0.53 | $3.36 | $0.74 | $0.61 |
| Tangible book value per share | −$0.12 | −$0.23 | −$0.09 | $0.52 | $1.37 | $0.74 | $0.60 |
| Dividends per share | — | — | — | — | $0.95 | — | — |
| Capex per share | $0.04 | $0.04 | $0.00 | $0.01 | $0.01 | $0.01 | $0.00 |
| Debt per share | $0.62 | $0.02 | $0.61 | $0.99 | $1.01 | $0.08 | $0.03 |
| Shares outstanding | 258.9M | 253.9M | 245.2M | 234.2M | 230.3M | 219.6M | 219.6M |
| Change in shares outstanding | +2.0% | +3.6% | +4.7% | +1.7% | +4.9% | 0.0% | — |
| Returns & profitability | |||||||
| Return on equity (ROE) | — | — | — | −171.2% | −36.5% | −50.0% | −60.3% |
| Return on invested capital (ROIC) | — | — | — | −255.9% | −63.9% | −284.8% | −475.5% |
| Return on assets (ROA) | −4.6% | −25.8% | −58.0% | −99.5% | −25.8% | −39.6% | −50.5% |
| Return on tangible assets | −4.7% | −28.2% | −90.9% | −178.5% | −26.3% | −34.8% | −51.8% |
| Free cash flow margin | −0.1% | −14.1% | −81.7% | −81.8% | −55.2% | −69.1% | −117.5% |
| Financial health | |||||||
| Total debt | $161.0M | $3.8M | $149.7M | $232.0M | $232.3M | $16.6M | $5.9M |
| Cash & short-term investments | $68.3M | $98.5M | $136.9M | $354.1M | $547.2M | $151.7M | $127.3M |
| Net debt | $92.7M | −$94.6M | $12.8M | −$122.2M | −$314.9M | −$135.1M | −$121.4M |
| Debt / equity | — | — | — | 1.88 | 0.30 | 0.10 | 0.04 |
| Debt / assets | 0.95 | 0.02 | 0.73 | 0.54 | 0.21 | 0.08 | 0.04 |
| Net debt / EBITDA | 31.50 | — | — | — | — | — | — |
| Current ratio | 2.48 | 3.47 | 5.38 | 11.17 | 10.21 | 5.31 | 6.67 |
| Quick ratio | 2.48 | 3.47 | 5.38 | 11.17 | 9.74 | 5.31 | 6.49 |
| Interest coverage | — | -7.4 | -5.1 | -30.1 | -17.5 | -107.6 | -288.8 |
| Working capital | $58.3M | $96.2M | $138.3M | $360.6M | $553.0M | $151.1M | $123.1M |
| Invested capital | $62.1M | −$151.0M | −$6.5M | $1.0M | $459.7M | $28.2M | $13.6M |
| Tangible asset value | −$30.6M | −$6.1M | $24.8M | $161.8M | $350.4M | $162.1M | $130.8M |
| Net current asset value | −$102.7M | −$46.8M | −$9.3M | $127.3M | $311.1M | $133.7M | $118.5M |
| Graham net-net per share | −$0.47 | −$0.27 | −$0.11 | $0.44 | $1.26 | $0.53 | $0.51 |
| Capital allocation | |||||||
| Dividends paid | — | — | — | — | $218.7M | — | — |
| Share buybacks (net) | $24.9M | $0 | $6.2M | $391,000 | $131,000 | $18,000 | $52,000 |
| Capex / revenue | 9.4% | 6.1% | 0.4% | 0.9% | 0.8% | 1.4% | 1.2% |
| Capex / operating cash flow | 100.7% | — | — | — | — | — | — |
| Capex / depreciation | 3.04 | 2.04 | 0.10 | 0.14 | 0.14 | 0.21 | 0.13 |
| Stock-based compensation / revenue | 23.4% | 17.3% | 29.3% | 46.6% | 30.2% | 10.5% | 19.5% |
| R&D / revenue | 26.6% | 28.4% | 52.0% | 58.7% | 39.3% | 57.8% | 95.9% |
| SG&A / revenue | 64.1% | 53.5% | 83.4% | 95.4% | 90.8% | 84.9% | 126.8% |
| Efficiency | |||||||
| Days sales outstanding | 50.1 | 44.9 | 51.1 | 49.2 | 49.5 | 66.6 | 78.1 |
| Days of inventory on hand | — | — | — | 35.6 | 43.8 | 20.6 | 72.3 |
| Days payables outstanding | 23.9 | 11.7 | 8.3 | 9.3 | 14.8 | 35.0 | 58.7 |
| Cash conversion cycle (days) | 26.3 | 33.2 | 42.8 | 75.5 | 78.5 | 52.2 | 91.7 |
| Receivables turnover | 7.28 | 8.13 | 7.14 | 7.42 | 7.37 | 5.48 | 4.68 |
| Payables turnover | 15.28 | 31.16 | 44.15 | 39.23 | 24.70 | 10.42 | 6.22 |
| Inventory turnover | — | — | — | 10.24 | 8.34 | 17.71 | 5.05 |
| Asset turnover | 0.71 | 0.84 | 0.49 | 0.30 | 0.35 | 0.51 | 0.31 |
| Average receivables | $17.0M | $19.9M | $22.0M | $31.7M | $31.8M | $17.5M | $10.8M |
| Average payables | $2.1M | $2.3M | $1.7M | $3.7M | $4.8M | $3.3M | $3.1M |
| Average inventory | — | — | — | $14.2M | $14.2M | $1.9M | $3.9M |
| Intangibles / total assets | 0.0% | 1.2% | 1.0% | 0.5% | 41.4% | 0.6% | 2.6% |
Computed from BLND's annual financial statements (latest annual report filed March 16, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
BLND valuation and financial ratios
It ended the year with $161.0 million of debt and $68.3 million in cash and short-term investments, net debt of $92.7 million. It returned $24.9 million to shareholders: $0 in dividends and $24.9 million in share buybacks. The share count rose 17.9% from 219.6M to 258.9M over 6 years.
See the BLND income statement, the BLND chart for price history, or the BLND stock overview for the latest quote and news.
BLND key metrics FAQ
What is Blend Labs's EV/EBITDA?
Blend Labs's enterprise value was 299.2 times EBITDA at the end of fiscal 2025 (enterprise value $879.9 million, EBITDA $2.9 million); the current EV/EBITDA is 20.5.
How much debt does Blend Labs have?
Blend Labs had total debt of $161.0 million at the end of fiscal 2025 and $92.7 million of net debt (31.50 times EBITDA).
Does Blend Labs buy back its shares?
Yes. Blend Labs spent $24.9 million on net share repurchases in fiscal 2025 Shares outstanding changed +2.0% over the year, to 258.9M..
What is Blend Labs's free cash flow yield?
Blend Labs generated -$0.1 million of free cash flow in fiscal 2025, a free cash flow yield of −0.0% on its market value at year-end ($787.2 million).
What is Blend Labs's current ratio?
Blend Labs's current ratio was 2.48 at the end of fiscal 2025: current assets were 2.48 times current liabilities.