Bullish

Bullish

BLSH
BullishUS flagNew York Stock Exchange
27.42
USD
-2.07
- -
4.16BMarket Cap
Bullish
BLSH
(New York Stock Exchange)

Recent

price

27.42

P/E

ratio

- -

div

yld

- -

ROIC.AI

2020
2021
2022
2023
2024
2025
TTM
FRC
- -
9.04
498.66
796.99
1,711.98
1,917.98
1,299.01
Revenue per Share
- -
-9.59
-29.04
8.89
0.54
-5.99
-9.41
Basic EPS, GAAP
- -
-3.11
1.32
-0.87
-0.23
-0.18
0.76
Free Cash Flow per Basic Share
- -
2.54
- -
3.66
- -
- -
- -
Dividend per Share
27.44
41.8
12.88
8.77
16.35
21.32
15.93
Book Value per Share
-5.1
41.79
12.87
8.25
15.7
20.7
15.31
Tangible Book Value per Share
- -
146
146
146
146
128
147
Basic Weighted Avg Shares
- -
1,322
72,895
116,508
250,263
244,970
190,571
Sales/Revenue/Turnover
- -
-96.52
0.02
0.01
0.01
0.02
0.02
Operating Margin (%)
- -
- -
4
5
9
7
7
Depreciation Expense
- -
-1,401
-4,246
1,299
79
-765
-1,380
Net Income, GAAP
- -
- -
- -
0.11
5.92
- -
- -
Effective Tax Rate (%)
- -
-106.03
-5.82
1.12
0.03
-0.31
-0.72
Profit Margin (%)
264
7,271
1,865
1,668
2,827
3,674
2,817
Working Capital
- -
6
11
437
514
525
512
LT Debt
4,012
6,111
1,883
1,282
2,401
3,298
2,460
Total Equity
- -
- -
- -
0.56
1.29
- -
- -
Return on Invested Capital (%)
- -
- -
- -
71.9
4.87
- -
- -
Return on Capital (%)
- -
-27.68
-106.23
82.11
4.28
-27.28
-55.73
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
56
7
7
LT Borrowings
511
488
499
LT Finance Leases
14
13
13
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
151
152
152
Market Capitalization
5,712
5,418
3,553

Working Capital

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
3,804
3,178
2,942
Cash, Cash Equivalents & STI
1,530
1,206
1,265
Accounts Receivable, Net
25
21
22
Inventories
206
143
139
Total Current Liabilities
130
120
125
Payables & Accruals
23
39
38
ST Debt
56
7
7
Deferred Revenue
11
12
12

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
15.17%
37.39%
Free Cash Flow
- -
- -
-31.26%
Net Income, GAAP
- -
- -
-1,073.78%
Sales/Revenue/Turnover
- -
- -
-2.11%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
80,414
49,604
54,204
66,041
250,263
2025
80,256
58,663
41,650
64,401
244,970
2026
51,870
32,650
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.71
-0.79
-0.46
- -
0.54
2025
-2.35
0.74
0.14
-3.62
-5.99
2026
-3.85
-1.78
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
Business
Bullish Bullish (NYSE: BLSH) operates a regulated digital asset exchange and provides market infrastructure and data services focused on institutional investors. The company offers spot and derivatives trading, including cryptocurrencies such as Bitcoin, Ethereum, and Solana, through its Bullish Exchange platform, which integrates a central limit order book matching engine with proprietary automated market making technology to deliver deep liquidity and tight spreads; CoinDesk Indices, a suite of tradable proprietary and single-asset benchmarks tracking digital asset performance for institutions in crypto and traditional finance; CoinDesk Data, real-time market data and analytics on prices, trends, and dynamics; and CoinDesk Insights via Coindesk.com, a leading media platform covering digital asset news, markets, policy, and blockchain technology. Bullish targets professional and institutional clients globally, with operations supported by a well-capitalized treasury and regulatory compliance frameworks including a New York BitLicense; it maintains offices in George Town, Cayman Islands; New York, United States; and Hong Kong. Founded in 2020 and headquartered in George Town, Cayman Islands, Bullish completed its initial public offering on the New York Stock Exchange in August 2025 at $37 per share, valuing the company above $5 billion; in 2023, it acquired CoinDesk to bolster its data and indices offerings; and in 2025, it launched crypto options trading surpassing $1 billion in volume, U.S. spot trading following New York DFS approval in September, and expanded liquidity services partnerships that more than doubled in Q3.

Company News

  • Bullish: A Strategic Bet On Tokenization (Rating Upgrade)

  • Bullish releases September 2026 monthly metrics

  • Head to Head Comparison: Bullish (NYSE:BLSH) vs. Hennessy Advisors (NASDAQ:HNNA)

  • Critical Contrast: Bullish (NYSE:BLSH) and CaliberCos (NASDAQ:CWD)

  • Bullish Stock Slides Friday: What's Happening?

  • Leading market infrastructure firms form Coalition to advance issuer-sponsored tokenized securities

  • Elemental Royalty Declares Quarterly Dividend and XAUT Token Payment Alternative for Shareholders

  • Why Did Bullish Stock Fall Today?

  • Bullish releases August 2026 monthly metrics

  • USD.AI Secures $100M Stablecoin Debt Facility From Bullish for GPU Financing

  • Do Options Traders Know Something About Bullish Stock We Don't?

  • Bullish (NYSE:BLSH) & FS KKR Capital (NYSE:FSK) Head-To-Head Contrast

  • Bullish Is Pulling Away From Crypto Peers, Analyst Says — but a Brutal July Spoils the Party

  • Bullish Q2 Earnings Call Highlights

  • Bullish (BLSH) Q2 2026 Earnings Call Transcript

  • Bullish CEO Tom Farley explains why he favors Clarity Act

  • Bullish stock surges 11% after topping Q2 revenue estimates

  • Bullish (BLSH) Q2 Earnings and Revenues Top Estimates

  • Bullish reports second quarter 2026 results

  • Bullish launches tokenized equity trading