BLZE vs NCNO

For growth investors, Backblaze, Inc.

(BLZE) is the stronger pick with 14. 3% revenue growth year-over-year, versus 13. 5% for nCino, Inc. (NCNO). Analysts rate Backblaze, Inc. (BLZE) a "Buy" — based on 8 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

Over the past 5 years, Backblaze, Inc.

(BLZE) delivered a total return of -62. 8%, compared to -69. 1% for nCino, Inc. (NCNO). Over 10 years, the gap is even starker: BLZE returned -62. 8% versus NCNO's -81. 0%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), nCino, Inc.

(NCNO) is the lower-risk stock at 1. 18β versus Backblaze, Inc. 's 1. 93β — meaning BLZE is approximately 63% more volatile than NCNO relative to the S&P 500. On balance sheet safety, nCino, Inc. (NCNO) carries a lower debt/equity ratio of 22% versus 98% for Backblaze, Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Backblaze, Inc.

(BLZE) is pulling ahead at 14. 3% versus 13. 5% for nCino, Inc. (NCNO). On earnings-per-share growth, the picture is similar: Backblaze, Inc. grew EPS 58. 6% year-over-year, compared to 13. 2% for nCino, Inc.. Over a 3-year CAGR, NCNO leads at 25. 4% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

nCino, Inc.

(NCNO) is the more profitable company, earning -7. 0% net margin versus -17. 6% for Backblaze, Inc. — meaning it keeps -7. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: NCNO leads at -3. 4% versus -13. 8% for BLZE. At the gross margin level — before operating expenses — BLZE leads at 60. 9%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

On forward earnings alone, nCino, Inc.

(NCNO) trades at 19. 3x forward P/E versus 443. 1x for Backblaze, Inc. — 423. 8x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for NCNO: 85. 4% to $32. 33.

None of the stocks in this comparison currently pay a material dividend.

All are effectively zero-yield and should be held for capital appreciation rather than income.

For long-horizon retirement investors, nCino, Inc.

(NCNO) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1. 18)). Backblaze, Inc. (BLZE) carries a higher beta of 1. 93 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (NCNO: -81. 0%, BLZE: -62. 8%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.