Evaluating Blaize Holdings (BZAI): How Does Valuation Stack Up Ahead of GITEX GLOBAL 2025?

Blaize Holdings (BZAI) is attracting investor attention ahead of its scheduled presentation at GITEX GLOBAL 2025, set for October 13 in Dubai. Conference appearances like this often prompt speculation about possible updates or product developments.

See our latest analysis for Blaize Holdings.

Blaize Holdings has seen jaw-dropping momentum over the past month, with a 94.14% 30-day share price return and more than doubling over the past quarter, even as the year-to-date share price return remains deep in the red. While the upcoming GITEX GLOBAL appearance is fueling optimism, it is worth keeping perspective since the one-year total shareholder return is still negative, reflecting past volatility alongside building new excitement.

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But with shares soaring in recent weeks and a major conference just ahead, the real question for investors now is whether Blaize Holdings is still undervalued or if the market has already priced in its future growth potential.

Price-to-Book of -134.2x: Is it justified?

Blaize Holdings trades at a Price-to-Book ratio of -134.2x, a figure that instantly stands out when compared with industry norms and raises pressing questions about what it signals for investors at a last close price of $6.29.

The Price-to-Book (P/B) ratio measures a company’s market value relative to its net assets. A negative P/B means the company has negative shareholders’ equity, which flags a balance sheet liability position that requires extra scrutiny, especially for investors in tech and semiconductor sectors where asset values can fluctuate due to R&D investments and rapid growth ambitions.

With a -134.2x P/B, Blaize Holdings’ equity is not just negative, but sharply diverges from the US Semiconductor industry average of 3.6x and even further from the peer group’s 15.5x. Such a wide gap signals market skepticism about underlying asset value, compounded by unprofitability and negative equity. This unusual multiple suggests that valuation should be approached with caution and context. Price signals alone may not reflect the full story.

See what the numbers say about this price — find out in our valuation breakdown.

Result: Price-to-Book of -134.2x (ABOUT RIGHT)

However, unexpected setbacks in revenue growth or ongoing negative net income could quickly dampen enthusiasm and challenge the momentum behind Blaize Holdings’ recent rally.

Find out about the key risks to this Blaize Holdings narrative.

Build Your Own Blaize Holdings Narrative

Keep in mind, if you’d rather form your own view or take a closer look at the numbers, you can craft your own narrative in just a few minutes. Do it your way

A great starting point for your Blaize Holdings research is our analysis highlighting 2 key rewards and 4 important warning signs that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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