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Blend Labs Inc (BLND) fair value: what the stock is really worth

We calculate from audited financials what Blend Labs Inc is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

Valuation from Jun 23, 2026. With the latest figures (losses, negative cash flow), a fair value can no longer be calculated.
  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Technology · US · ISIN US09352U1088

BL Blend Labs Inc logo Thin data Jun 23, 2026

Blend Labs Inc

BLND · US

SpeculativeUpside exists, but weak quality makes the signal speculative.

✓Fair value $1.29 · Undervalued (+15%)
!Quality 43/100
!Weak Growth (revenue 5y +5.2 %/yr)
!Loss-making · -4.2% net margin (TTM)
!Negative equity (buybacks among others) · negative free cash flow
!Trails peers (2/7)
!Narrow moat 11/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$20.90 $0.5500 Fair Value $1.29 Jul 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jun 23, 2026.

How to read this chart

60‑month range $0.5500 – $20.90 · fair‑value band $0.9700 – $1.62 · the $1.12 price screens below the $1.29 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jun 23, 2026.

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Company profile

Blend Labs, Inc. provides a cloud-based software platform for financial services firms in the United States, India, and Mexico.

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Blend Labs, Inc. provides a cloud-based software platform for financial services firms in the United States, India, and Mexico. The company offers a suite of products that powers digital-first consumer journeys for mortgages, home equity loans and lines of credit, vehicle loans, rapid home lending, personal loans, credit cards, and deposit accounts; and a suite of add-on products that offers to enhance consumers' journeys to homeownership, such as close, income verification for mortgage and home equity lines of credit, and home equity loans. It also provides Blend Builder to configure or build custom workflows from a pre-built set of components; verification components to automate confirmation tasks that are needed to underwrite a loan or approve the opening of a new deposit account; decisioning components to reduce the need for human intervention by automatically applying business rules throughout an application workflow configured by a financial services firm; AI capabilities; and workflow intelligence components to manage data collection and automate tasks throughout the loan origination process. In addition, the company offers application programming interfaces, which integrate the capabilities of technology, data, and service providers into software platform, as well as support services, professional and consulting services. It serves banks, credit unions, fintechs, and other non-bank mortgage lenders. The company was incorporated in 2012 and is headquartered in Novato, California.

Stock analysis

Blend Labs Inc (BLND) currently trades at $1.12, while our model-based Fair Value estimate is $1.29, implying the stock looks roughly 13.2% undervalued today.

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Valuation

How firm this estimate is: it rests on 3 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: $0.9700 (bear) to $1.62 (bull), the price of $1.12 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 43/100 (below-average quality), in the Technology sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Blend Labs Inc reported revenue of $124M in FY2025 versus $234M in FY2021, a compound −14.8%/yr. Reported net income was −$8.1M in FY2025.

Key figures

Market cap $384M · P/S ratio 3.01 · EPS (TTM) $−0.0700 · Net margin −6.5% · Return on equity 0.3% · Return on assets (EBIT) −61.2% · Operating margin −14.3% · Revenue (TTM) $128M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (medium confidence).

What moves the price

The share trades about 72% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −13% fair-value upside, at 15%, BLND screens cheaper than that median.

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Quality Score breakdown

Overall quality 43/100

Of which business quality 43 · Market factors (momentum, volatility) 9

Profitability 37
Margins and returns on capital today
Quality Growth 60
Are margins and returns improving?
Cashflow 19
Earnings quality: real cash, not paper profit
Fin. Strength 29
Balance sheet, leverage, solvency risk
Investment 86
Disciplined investing over empire-building
Low Volatility 27
Calm price path (market factor)
Momentum 3
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 54
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 17/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−23.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−19.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.2%
Start year 2020 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+16.0%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−78.4% (2020) → −16.9% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software - Application · 710 stocks

Beats the industry median on 2/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 43 · Below median
Fair Value upside +15% · Above median
Profitability
Return on equity (TTM) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets −6% · Bottom 25%
Net margin (TTM) −4% · Below median
Operating margin (TTM) −14% · Bottom 25%
Growth and dividend
Revenue growth 15% · Above median
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Software - Application median · lower = cheaper

P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (TTM) 3.01× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)54 · sector 26
FUTURE (revenue growth)75 · sector 39
PAST (return on equity)0 · sector 16
HEALTH (low debt)0 · sector 97
DIVIDEND (yield)0 · sector 33

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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10 more Software - Application stocks, each showing price versus our Fair Value estimate.

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Shopify Inc SHOP $147.74 $64.36 −56%
Uber Technologies, Inc UBER $69.89 $104.82 +50%
Salesforce, Inc CRM $233.28 $344.41 +48%
ServiceNow, Inc NOW $137.00 $150.70 +10%
Cadence Design Systems, Inc CDNS $302.95 $225.14 −26%
Snowflake Inc SNOW $336.59 $75.08 −78%
Datadog, Inc DDOG $247.48 $32.92 −87%
Adobe Inc ADBE $238.25 $454.04 +91%
Automatic Data Processing, Inc ADP $269.64 $177.51 −34%

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Cite: Fair Value Calculator (2026). "Blend Labs Inc Fair Value". https://www.fairvalue-calculator.com/stock/BLND

Frequently asked questions

Is Blend Labs Inc (BLND) overvalued or undervalued?
As of Jun 23, 2026, our model estimates a fair value of $1.29 versus a price of $1.12, about +15% upside (undervalued).
What is the fair value of BLND?
Our model-based fair value for Blend Labs Inc is $1.29 (as of Jun 23, 2026), built from audited fundamentals. The current price: $1.12.
What is the quality score of BLND?
Blend Labs Inc has a Quality Score of 43/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Blend Labs Inc (BLND)?
Our model-based price target is the fair value of $1.29 (as of Jun 23, 2026) from 3 valuation models. Cautious scenario $0.9700, optimistic scenario $1.62. It is a calculation from audited fundamentals, not an analyst target.
What is the Blend Labs Inc stock forecast for 2026?
Our models put fair value at $1.29, about +15% upside versus a price of $1.12 (undervalued). Cautious scenario $0.9700, optimistic scenario $1.62. The calculation is refreshed regularly with new filings.
What is the revenue of Blend Labs Inc (BLND)?
Blend Labs Inc reported trailing-twelve-month revenue of about $128M (latest available figure, as of Jun 23, 2026).
What is the intrinsic value of Blend Labs Inc (BLND)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Blend Labs Inc it is $1.29 per share (as of Jun 23, 2026), against a price of $1.12. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Blend Labs Inc stock overvalued or undervalued in 2026?
As of Jun 23, 2026, BLND trades below its calculated fair value: price $1.12, fair value $1.29, a gap of about +15% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BLND?
No. The price is what the market pays today ($1.12); the fair value is what the company's own numbers justify ($1.29). For Blend Labs Inc the two are $0.1700 per share apart. That gap is exactly why we show both numbers side by side.
How much is Blend Labs Inc worth?
The market values Blend Labs Inc at about $384M (market capitalisation, as of Jun 23, 2026). Per share that is $1.12; our models calculate a fair value of $1.29 per share.
What do the bullish and bearish scenarios say about BLND?
Our models span a range for Blend Labs Inc: cautious scenario $0.9700, base $1.29, optimistic $1.62 per share (as of Jun 23, 2026, price $1.12). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Blend Labs Inc (BLND)?
Balance-sheet figures for Blend Labs Inc (as of Jun 23, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is BLND from its 52-week high?
Blend Labs Inc trades at $1.12, about 72% below its 52-week high of $3.93 and at the low of $1.12 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $1.29 is for.
Which stocks are comparable to Blend Labs Inc?
From the same area (Technology) we also value SAP SE, Shopify Inc, Uber Technologies, Inc, Salesforce, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Blend Labs Inc stock attractive at the current price?
The data as of Jun 23, 2026: price $1.12, calculated fair value $1.29 (+15%), Quality Score 43/100, from 3 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of BLND calculated?
We run Blend Labs Inc through 3 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $1.29, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Blend Labs Inc currently trades 15 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Blend Labs Inc (BLND)?
The closing price on Sep 23, 2026 was $1.12. Our model-based fair value is $1.29, about +15% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Blend Labs Inc right now?
Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.

Key figures of Blend Labs Inc

How large is the market capitalisation of Blend Labs Inc (BLND)?
The market capitalisation of Blend Labs Inc is $384M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Blend Labs Inc (BLND)?
The price-to-sales ratio of Blend Labs Inc is 3.01 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Blend Labs Inc (BLND)?
Earnings per share at Blend Labs Inc are $−0.0700. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Blend Labs Inc (BLND)?
The net margin of Blend Labs Inc is −6.5% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Blend Labs Inc (BLND)?
The return on equity (ROE) of Blend Labs Inc is 0.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Blend Labs Inc (BLND)?
On an EBIT basis the return on assets of Blend Labs Inc is −61.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Blend Labs Inc (BLND)?
The operating margin of Blend Labs Inc is −14.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Blend Labs Inc (BLND)?
Revenue at Blend Labs Inc is growing +14.9% versus a year earlier (3y avg −19.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Blend Labs Inc (BLND) generate?
The free cash flow of Blend Labs Inc is −$81.0K (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Blend Labs Inc (BLND) carry?
The net debt of Blend Labs Inc is $117M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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