Bullish (BLSH)

Bullish Statistics

Total Valuation

Bullish has a market cap or net worth of $5.98 billion. The enterprise value is $6.07 billion.

Market Cap	5.98B
Enterprise Value	6.07B

Important Dates

The last earnings date was Thursday, February 5, 2026, before market open.

Earnings Date	Feb 5, 2026
Ex-Dividend Date	n/a

Share Statistics

Bullish has 150.83 million shares outstanding. The number of shares has increased by 10.68% in one year.

Current Share Class	150.30M
Shares Outstanding	150.83M
Shares Change (YoY)	+10.68%
Shares Change (QoQ)	+7.68%
Owned by Insiders (%)	61.54%
Owned by Institutions (%)	25.77%
Float	40.31M

Valuation Ratios

PE Ratio	n/a
Forward PE	53.69
PS Ratio	25.19
Forward PS	15.44
PB Ratio	1.86
P/TBV Ratio	1.91
P/FCF Ratio	319.56
P/OCF Ratio	208.72
PEG Ratio	0.59

Enterprise Valuation

EV / Earnings	n/a
EV / Sales	25.57
EV / EBITDA	n/a
EV / EBIT	n/a
EV / FCF	324.32

Financial Position

The company has a current ratio of 29.28, with a Debt / Equity ratio of 0.18.

Current Ratio	29.28
Quick Ratio	4.01
Debt / Equity	0.18
Debt / EBITDA	n/a
Debt / FCF	31.07
Interest Coverage	-3.49

Financial Efficiency

Return on equity (ROE) is -27.57% and return on invested capital (ROIC) is -4.88%.

Return on Equity (ROE)	-27.57%
Return on Assets (ROA)	-3.26%
Return on Invested Capital (ROIC)	-4.88%
Return on Capital Employed (ROCE)	-4.78%
Weighted Average Cost of Capital (WACC)	n/a
Revenue Per Employee	$573,046
Profits Per Employee	-$1.85M
Employee Count	414
Asset Turnover	0.07
Inventory Turnover	n/a

Taxes

Income Tax	-944,000
Effective Tax Rate	n/a

Stock Price Statistics

Beta (5Y)	n/a
52-Week Price Change	n/a
50-Day Moving Average	34.58
200-Day Moving Average	n/a
Relative Strength Index (RSI)	65.69
Average Volume (20 Days)	1,319,815

Short Selling Information

The latest short interest is 8.89 million, so 5.89% of the outstanding shares have been sold short.

Short Interest	8.89M
Short Previous Month	8.03M
Short % of Shares Out	5.89%
Short % of Float	22.05%
Short Ratio (days to cover)	3.30

Income Statement

In the last 12 months, Bullish had revenue of $237.24 million and -$764.68 million in losses. Loss per share was -$5.99.

Revenue	237.24M
Gross Profit	237.24M
Operating Income	-182.90M
Pretax Income	-786.41M
Net Income	-764.68M
EBITDA	-181.01M
EBIT	-182.90M
Loss Per Share	-$5.99

Balance Sheet

The company has $492.04 million in cash and $581.09 million in debt, with a net cash position of -$89.05 million or -$0.59 per share.

Cash & Cash Equivalents	492.04M
Total Debt	581.09M
Net Cash	-89.05M
Net Cash Per Share	-$0.59
Equity (Book Value)	3.30B
Book Value Per Share	21.32
Working Capital	3.67B

Cash Flow

In the last 12 months, operating cash flow was $28.63 million and capital expenditures -$9.93 million, giving a free cash flow of $18.70 million.

Operating Cash Flow	28.63M
Capital Expenditures	-9.93M
Free Cash Flow	18.70M
FCF Per Share	$0.12

Margins

Gross Margin	100.00%
Operating Margin	-77.09%
Pretax Margin	-331.48%
Profit Margin	n/a
EBITDA Margin	-76.30%
EBIT Margin	-77.09%
FCF Margin	7.88%

Dividends & Yields

Bullish does not appear to pay any dividends at this time.

Dividend Per Share	n/a
Dividend Yield	n/a
Dividend Growth (YoY)	n/a
Years of Dividend Growth	n/a
Payout Ratio	n/a
Buyback Yield	-10.68%
Shareholder Yield	-10.68%
Earnings Yield	-12.80%
FCF Yield	0.31%

Analyst Forecast

The average price target for Bullish is $52.09, which is 31.47% higher than the current price. The consensus rating is "Buy".

Price Target	$52.09
Price Target Difference	31.47%
Analyst Consensus	Buy
Analyst Count	12
Revenue Growth Forecast (5Y)	n/a
EPS Growth Forecast (5Y)	n/a

Fair Value

There are several formulas that can be used to estimate the intrinsic value of a stock.

Lynch Fair Value	n/a
Lynch Upside	n/a
Graham Number	n/a
Graham Upside	n/a

Stock Splits

This stock does not have any record of stock splits.

Last Split Date	n/a
Split Type	n/a
Split Ratio	n/a

Scores

Bullish has an Altman Z-Score of 7.2 and a Piotroski F-Score of 4.

Altman Z-Score	7.2
Piotroski F-Score	4