Bullish

As of June 30, 2026, Bullish carries a market capitalization of 2.87B, placing it among publicly traded companies globally. Its enterprise value stands at 2.30B, reflecting the total theoretical takeover cost after accounting for cash holdings and debt obligations.

Bullish's next confirmed earnings release is scheduled for November 25, 2026.

As of June 30, 2026, Bullish has 151.65M shares outstanding.

These figures are as of June 30, 2026. The price-to-sales ratio is 0.02, and the price-to-book ratio stands at 1.47.

These figures are as of June 30, 2026. The EV/Sales ratio of 0.01 reflects the premium investors pay for the company's revenue stream, a useful check when earnings are depressed or negative. These enterprise value multiples are built on an enterprise value of 2.30B versus a market cap of 2.87B, with the gap driven by net debt and cash on the balance sheet.

As of June 30, 2026, Bullish maintains a current ratio of 23.52, meaning it holds 23.5x the short-term assets needed to cover near-term liabilities. The debt-to-equity ratio is 21.06, indicating elevated leverage, while an interest coverage ratio of -8.51 demonstrates limited ability to service its debt obligations.

Over the twelve months ended June 30, 2026, Bullish posted a negative return on equity (ROE) of -55.73, meaning shareholder capital produced losses rather than profits. Return on assets (ROA) is negative at -43.56, reflecting losses generated across the asset base. The company generates approximately 371.86M in revenue per employee across its workforce of 414.00, a quick read on workforce productivity versus industry peers. Inventory turnover of 1,027.13 indicates how many times Bullish sells and replaces its inventory over a year, a key working capital efficiency ratio.

Over the twelve months ended June 30, 2026, Bullish recorded an income tax benefit of -1.11M rather than an expense, typically from losses, carryforwards, or the release of a tax provision. The company reported a pretax loss of -1.16B and -1.11B in bottom-line net income, so the effective tax rate carries little signal until profitability returns.

As of the close on October 21, 2026, Bullish's stock has declined approximately 49.06% over the past 52 weeks.

Over the twelve months ended June 30, 2026, Bullish generated 153.95B in revenue and converted that into -1.11B in net income, yielding earnings per share of -7.87. EBITDA reached -394.57M, while operating income came in at 37.04M.

As of June 30, 2026, Bullish holds 1.02B in cash and equivalents against 418.58M in total debt, resulting in a net debt position of 332.85M. Total book value stands at 1.95B, with working capital of 2.28B providing operational flexibility.

Bullish produced 99.38M in operating cash flow over the twelve months ended June 30, 2026. After subtracting -9.56M in capital expenditures, free cash flow totaled 89.82M - equivalent to 0.61 per share.

Over the twelve months ended June 30, 2026, Bullish posted a gross margin of 0.02, reflecting its pricing power and cost economics. The operating margin of 0.02 and net profit margin of -0.72 provide insight into operational efficiency.

Over the twelve months ended June 30, 2026, Bullish paid dividends of - - per share. The dividend payout ratio of - - indicates the proportion of earnings distributed to shareholders, a key gauge of how sustainable the dividend is and how much room remains for future dividend growth. Free cash flow yield stands at 3.23, showing how much cash the business generates relative to its market value - dividends covered by free cash flow are generally more durable than those funded by debt. Total shareholder yield reaches 1.01, combining dividends paid with share buybacks and debt reduction for a fuller picture of capital returned to Bullish shareholders.

As of June 30, 2026, Bullish has an Altman Z-Score of 66.51, well above the 3.0 threshold that indicates strong financial health and minimal bankruptcy risk.