BLND Stock Analysis: Blend Labs | NYSE
Software - Application | NYSE, USA | Market Cap: 438m USD | 12M Return: -48.1% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 3.89M
Qual. Beats: 0
Rev. Trend: -81.1%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 4.9 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Blend Labs, Inc. (BLND) is a cloud-based software provider serving financial services firms across the United States, India, and Mexico. Its platform supports digital consumer journeys for a range of lending and deposit products, including mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts, along with add-on tools for closing, income verification, and homeownership support. The company also offers Blend Builder for custom workflow configuration, automated verification and decisioning components, AI capabilities, and APIs that integrate third-party data and service providers. Its customers include banks, credit unions, fintechs, and other non-bank mortgage lenders. Blend was incorporated in 2012, is headquartered in Novato, California, and went public on the NYSE in July 2021.
As a small-cap stock in the Application Software sub-industry (Information Technology sector), Blend operates in the fintech infrastructure space, providing software-as-a-service (SaaS) tools that enable lenders to digitize and automate the loan origination process rather than originating loans itself.
- Mortgage origination volume recovery drives transaction revenue growth
- Home equity and deposit account expansion diversifies beyond purchase mortgages
- Competition from mortgage tech rivals pressures pricing and win rates
| Net Income: -5.62m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.06 > 0.02 and ΔFCF/TA -5.33 > 1.0 |
| NWC/Revenue: 31.29% < 20% (prev 57.62%; Δ -26.33% < -1%) |
| CFO/TA -0.01 > 3% & CFO -1.53m > Net Income -5.62m |
| Net Debt (106.0m) to EBITDA (4.41m): 24.05 < 3 |
| Current Ratio: 1.78 > 1.5 & < 3 |
| Outstanding Shares: last quarter (255.6m) vs 12m ago -1.24% < -2% |
| Gross Margin: 74.87% > 18% (prev 63.37%; Δ 11.50% > 0.5%) |
| Asset Turnover: 73.05% > 50% (prev 75.46%; Δ -2.41% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM) |
| A: 0.25 (Total Current Assets 91.4m - Total Current Liabilities 51.5m) / Total Assets 161.3m |
| B: -8.68 (Retained Earnings -1.40b / Total Assets 161.3m) |
| C: 0.00 (EBIT TTM 299k / Avg Total Assets 174.8m) |
| D: -0.26 (Book Value of Equity -55.9m / Total Liabilities 217.2m) |
| Altman-Z'' = -26.93 = D |
| DSRI: 1.75 (Receivables 21.2m/13.5m, Revenue 127.7m/142.1m) |
| GMI: 0.85 (GM 63.37% / 74.87%) |
| AQI: 1.73 (AQ_t 0.29 / AQ_t-1 0.17) |
| SGI: 0.90 (Revenue 127.7m / 142.1m) |
| TATA: -0.03 (NI -5.62m - CFO -1.53m) / TA 161.3m) |
| Beneish M = -2.19 (Cap -4..+1) = BB |
As of July 21, 2026, the stock is trading at USD 1.80 with a total of 1,575,688 shares traded. Over the past week, the price has changed by +3.45%, over one month by +7.14%, over three months by +11.80% and over the past year by -48.13%.
Current recommended Stop Loss: 1.50 (which is 16.7% or 2.5 ATR below the current price).
Blend Labs has received a consensus analysts rating of 4.14. Therefore, it is recommended to buy BLND.
- StrongBuy: 3
- Buy: 2
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 3.6 | 98.9% |
P/E Forward = 22.6244
P/S = 3.4349
P/B = 2.0038
Revenue TTM = 127.7m USD
EBIT TTM = 299k USD
EBITDA TTM = 4.41m USD
Long Term Debt = 165.3m USD (estimated: total debt 165.6m - short term 254k)
Short Term Debt = 254k USD (from shortTermDebt, last quarter)
Debt = 166.9m USD (from shortLongTermDebtTotal, last quarter) + Leases 1.36m
Net Debt = 106.0m USD (calculated: Debt 166.9m - CCE 61.0m)
Enterprise Value = 544.2m USD (438.2m + Debt 166.9m - CCE 61.0m)
Interest Coverage Ratio = unknown (Ebit TTM 299k / Interest Expense TTM 0.0)
EV/FCF = -56.40x (Enterprise Value 544.2m / FCF TTM -9.65m)
FCF Yield = -1.77% (FCF TTM -9.65m / Enterprise Value 544.2m)
FCF Margin = -7.56% (FCF TTM -9.65m / Revenue TTM 127.7m)
Net Margin = -4.40% (Net Income TTM -5.62m / Revenue TTM 127.7m)
Gross Margin = 74.87% ((Revenue TTM 127.7m - Cost of Revenue TTM 32.1m) / Revenue TTM)
Gross Margin QoQ = 75.75% (prev 75.38%)
Tobins Q-Ratio = 3.37 (Enterprise Value 544.2m / Total Assets 161.3m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 166.9m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 236k (EBIT 299k * (1 - 21.00%))
Current Ratio = 1.78 (Total Current Assets 91.4m / Total Current Liabilities 51.5m)
Debt / Equity = -2.99 (negative equity) (Debt 166.9m / totalStockholderEquity, last quarter -55.9m)
Debt / EBITDA = 24.05 (Net Debt 106.0m / EBITDA 4.41m)
Debt / FCF = -10.98 (negative FCF - burning cash) (Net Debt 106.0m / FCF TTM -9.65m)
Total Stockholder Equity = 45.9m (last 4 quarters mean from totalStockholderEquity)
RoA = -3.22% (Net Income -5.62m / Total Assets 161.3m)
RoE = -12.24% (Net Income TTM -5.62m / Total Stockholder Equity 45.9m)
RoCE = 0.14% (EBIT 299k / Capital Employed (Equity 45.9m + L.T.Debt 165.3m))
RoIC = 0.23% (NOPAT 236k / Invested Capital 103.7m)
WACC = 7.60% (E(438.2m)/V(605.2m) * Re(10.49%) + D(166.9m)/V(605.2m) * Rd(0.0%) * (1-Tc(0.21)))
Discount Rate = 10.49% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 68.87 | Cagr: 1.24%
[DCF] Fair Price = unknown (Cash Flow -9.65m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.25 | # QB: 0
Revenue Correlation: -81.05 | Revenue CAGR: -9.32% | SUE: 0.21 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.02 | Chg30d=N/A | Revisions=-40% | Analysts=4
EPS next Quarter (2026-09-30): EPS=0.01 | Chg30d=N/A | Revisions=-25% | Analysts=5
EPS current Year (2026-12-31): EPS=0.05 | Chg30d=-3.57% | Revisions=-25% | GrowthEPS=-25.7% | GrowthRev=+6.6%
EPS next Year (2027-12-31): EPS=0.10 | Chg30d=+0.00% | Revisions=-38% | GrowthEPS=+88.9% | GrowthRev=+12.2%
[Analyst] Revisions Ratio: -58% (up=1, down=8)