Stock fact sheet · data as of
Blend Labs, Inc. (BLND): fair value, margin of safety and Wheel Score
Ticker symbol BLND · Technology · Software - Application · United States · Class A common stock · Speculative
BLND is Blend Labs, Inc.'s Class A common stock. The classes own the same business, share the same earnings report and trade within a few cents of each other; what differs is mainly the vote each share carries - the company's annual report sets out the voting rights.
Is BLND undervalued?
BLND closed at 1.28 on 5 Nov 2026 against a GLS average fair value of 1.30 - 1.7% below fair value, which our scans read as "fairly priced". 1 of 1 models are above the current price. There is no discount to lean on here, so the margin of safety is not the reason to look at the stock.
Only 1 of the nine models produced a value (10 Cap); the others need a dividend, positive free cash flow or positive book value the company does not have yet, so the average rests on a narrow base.
The nightly engine files BLND under Speculative - it is losing money or its Piotroski health score is 3 or lower - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan.
Nine valuation models for BLND
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | - | - | The most a defensive investor pays for the earnings and book value per share; no value tonight |
| Graham Growth | - | - | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields; no value tonight |
| Lynch | - | - | EPS × the earnings growth rate (PEG of 1), growth capped at 25%; no value tonight |
| GLS Growth | - | - | EPS compounded ten years at the blended growth rate, discounted back at 15% a year; no value tonight |
| 10 Cap | 1.30 | +2% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | - | - | Earnings power value: current EPS capitalised at 9% with no growth; no value tonight |
| Zombie (liquidation) | -0.4344 | -134% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 3.75 | +193% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is weak: BLND passes 4 of the nine Piotroski tests. Our scans drop the stock at the health filter; a low score is often the reason a stock looks cheap on the valuation models. The GLS Moat score is low at 2.0 out of 10: returns on capital, margins or the balance sheet have not shown a lasting edge yet - often a young company, a thin-margin business or one that has only recently turned profitable.
Returns on capital are thin or negative - ROIC -6.2%, ROE 26.4%, ROA -4.7% - with debt at -5.27 times equity and a free-cash-flow yield of 4.6%.
Blend Labs, Inc. pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain. Revenue comes mainly from Software 93%, Professional Services 7% (quarter Q2 FY2026).
Institutional ownership scores 8/10, insider activity 10/10 and Congressional trading 5/10 on the GLS smart-money scales; the last recorded insider buy was on 17 Aug 2026.
| Piotroski F-score | 4 / 9 | ROIC | -6.2% |
|---|---|---|---|
| GLS Moat | 2.0 / 10 | ROE | 26.4% |
| Debt / equity | -5.27 | ROA | -4.7% |
| Free-cash-flow yield | 4.6% | Payout ratio | 0% |
| Institutions | 8 / 10 | Insiders · Congress | 10 · 5 / 10 |
Wheel Score 13: Weak
BLND scores 13 out of 100 on the Wheel Score, in the Weak band (under 50): it fails filter 1, options that actually trade - options too quiet (2,747 open interest, 64 a day); and filter 2, a real business, not a gamble - speculative (a loss, or a weak Piotroski score); and filter 4, financially healthy - Piotroski 4/9 (under 6); and filter 5, can repay its debt - 13.8 years to repay its debt (over 3); and filter 7, a premium worth selling - implied volatility 152% (over 80%); and filter 8, big enough - market cap $303M (under $1.0B); and filter 9, not a penny stock - price 1.28 (under $5), and the parts are thin too - value weak, premium weak, moat weak, health fair, red flags weak, option trading weak, stability fair. The score is not a judgement on the company; it says the price, quality and premium do not line up for selling puts on it today.
Implied volatility is 152%, above the 80% ceiling of the Wheel Trade Filter on premium. The premium looks generous, but moves of that size can blow through any strike. Chain open interest is 2,747 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 2.6M shares a day on a market cap of $303M, with a beta of 1.05; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | options too quiet (2,747 open interest, 64 a day) |
| 2 | A real business, not a gamble | Fails | speculative (a loss, or a weak Piotroski score) |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Fails | Piotroski 4/9 (under 6) |
| 5 | Can repay its debt | Fails | 13.8 years to repay its debt (over 3) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Fails | implied volatility 152% (over 80%) |
| 8 | Big enough | Fails | market cap $303M (under $1.0B) |
| 9 | Not a penny stock | Fails | price 1.28 (under $5) |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 2% below fair value | |
| Premium | Weak | implied volatility 152% | |
| Moat | Weak | moat 2.0/10 | |
| Health | Fair | Piotroski 4/9 | |
| Red Flags | Weak | Red Flags score 65/100 | |
| Option trading | Weak | 64 contracts a day, 2,747 open interest | |
| Stability | Fair | beta 1.05, $303M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
Blend Labs, Inc. reports earnings on 5 Nov 2026 (after the close) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Software - Application
The 12 companies below are the closest to Blend Labs, Inc. by market cap within the Software - Application industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
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|---|---|---|---|---|---|
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| AZ A2Z Cust2Mate Solutions Corp. | 6.46 | - | - | 14Weak | $284M |
| EGHT 8x8, Inc. | 2.26 | 2.12 | -6% | 23Weak | $326M |
| RBBN Ribbon Communications Inc. | 1.54 | 4.75 | +68% | 26Weak | $276M |
| XPER Xperi Inc. | 5.36 | 5.86 | +9% | 27Weak | $261M |
| TRVG trivago N.V. | 3.54 | 6.20 | +43% | 29Weak | $250M |
| LAW CS Disco, Inc. | 5.73 | - | - | 20Weak | $367M |
| ARQQ Arqit Quantum Inc. | 13.87 | 2.58 | -438% | 12Weak | $241M |
| RWWI Rand Worldwide, Inc. | 7.16 | 18.38 | +61% | 34No options | $241M |
| AIOT PowerFleet, Inc. | 2.84 | 3.66 | +22% | 30Weak | $381M |
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Start free See the Sunday ScanQuestions about BLND
What kind of share is BLND?
BLND is Blend Labs, Inc.'s Class A common stock. The classes own the same business, share the same earnings report and trade within a few cents of each other; what differs is mainly the vote each share carries - the company's annual report sets out the voting rights.
Is BLND undervalued right now?
Not meaningfully: at 1.28 the stock trades within a few percent of the GLS average fair value of 1.30 (1.7% below fair value, data as of 5 Nov 2026).
What is the Wheel Score of BLND and what does it mean?
BLND scores 13 out of 100 (Weak) - it fails Wheel Trade Filters 1, 2, 4, 5, 7, 8, 9. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for BLND?
1.30 per share as of 5 Nov 2026 - the simple average of the 1 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Blend Labs, Inc. report earnings next?
The next earnings report is due on 5 Nov 2026 (after the close), 0 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does BLND have listed options, and how liquid are they?
Yes. The nightly snapshot found 8 listed contracts with 2,747 open interest across all expiries and implied volatility of 152% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.