Backstab doing much less damage than it should?

While testing out my new Subtlety Rogue rotation last week, I noticed that Backstab was reliably doing way less damage than the tooltip said it should be at any given time. For example, if my Backstab was supposed to deal ~405 dmg from the front, it would only be doing around ~275 dmg. If I went behind my target for the 20% damage increase, that number would only go up to around ~345. At all times, my Backstab is performing only 70% as good as it says it’s supposed to be. This is happening regardless of if I attack a target dummy or a regular mob.

Conversely, when I switch to Gloomblade, its numbers are accurate and reliable. If it says I’ll deal ~457 dmg per hit, I’m actually dealing it.

I just checked this again today and Backstab is still not dealing the damage that it should be. Has anyone else noticed this? Is there something I’m missing? Is this because of the Physical vs Shadow damage and I’ve just never realized before?