Bullish (BLSH)
Full history for every metric is available with a Kvantra account
No price history available.
Key financial summary
Financials in USD| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM | 2026E | ||
|---|---|---|---|---|---|---|---|---|---|
| Total revenue | $bn | 0 | 1 | 73 | 117 | 250 | 245 | 158 | - |
| Operating profit | $bn | 0 | -0 | ||||||
| Net profit | $bn | -0 | -1 | -4 | 1 | 0 | -1 | -1 | - |
| EPS reported | $ | -5.99 | -9.12 | ||||||
| Operating cashflow per share | $ | 0.22 | 0.72 | ||||||
| Capex per share | $ | 0.41 | 0.08 | ||||||
| FCF per share | $ | -0.18 | 0.64 | ||||||
| Free cash flow | $bn | 0 | 0 | ||||||
| Net debt | $bn | 0 | 0 | ||||||
| Book value equity | $bn | 3 | 2 | ||||||
| Book value per share | $ | 25.27 | 15.95 | ||||||
| Number of shares | m | 127.72 | 151.42 | ||||||
| DPS (TTM paid) | $ | 0.00 | 0.00 |
Financial summary
Financials in USD| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM | 2026E | ||
|---|---|---|---|---|---|---|---|---|---|
| Value | |||||||||
| P/E TTM | x | - | - | ||||||
| P/B LTM | x | 1.50 | 2.00 | ||||||
| P/S LTM | x | 0.02 | 0.03 | ||||||
| P/FCF LTM | x | -208.87 | 49.87 | ||||||
| EV/EBITDA LTM | x | -7.32 | -4.85 | ||||||
| EV/Sales LTM | x | 0.02 | 0.04 | ||||||
| Earnings Yield LTM | % | -15.81% | -25.32% | ||||||
| FCF Yield | % | 0.00% | +2.01% | ||||||
| Quality | |||||||||
| ROE | % | -23.69% | -45.26% | ||||||
| ROIC | % | +1.30% | -0.18% | ||||||
| Operating margin | % | +0.02% | -0.00% | ||||||
| Gross margin | % | +0.03% | +0.04% | ||||||
| FCF/Sales | % | -0.01% | +0.06% | ||||||
| Growth and momentum | |||||||||
| EPS Growth YoY | % | - | - | ||||||
| Sales Growth YoY | % | -2.11% | -36.88% | ||||||
| Net Income Growth YoY | % | - | - | ||||||
| FCF Growth | % | - | - | ||||||
| Operating Profit Growth | % | +58.70% | - | ||||||
| Dividend and capital structure | |||||||||
| Dividend Yield | % | 0.00% | 0.00% | ||||||
| Dividend Growth | % | - | - | ||||||
| Payout Ratio | % | 0.00% | 0.00% | ||||||
| FCF/Debt | x | 0.00 | 0.19 | ||||||
| Net Debt/EBITDA | x | -0.66 | -0.38 | ||||||
| EBIT/Net interest | x | 0.97 | -0.10 | ||||||
| Net debt/market cap | % | +11.60% | +9.25% | ||||||
| Net debt/Equity | x | 0.02 | 0.08 | ||||||
| Gross debt/equity | x | 0.18 | 0.21 | ||||||
Price target estimates
Based on consensus from external analysts. Not Kvantra's opinion.
Ratings
Based on consensus from external analysts. Not Kvantra's opinion.
ESG
| Metric | 2024 | 2025 | 2026 |
|---|---|---|---|
| ESG-score | |||
| Environmental score | |||
| Social score | |||
| Governance score | |||
| Risk rating |
Company overview
Bullish, a global digital asset platform that provides market infrastructure and information services in United States. The company operates Bullish Exchange, a digital assets spot and derivatives exchange that integrates a central limit order book matching engine with automated market making to provide deep and predictable liquidity. It also offers CoinDesk Indices, a collection of tradable proprietary and single-asset benchmarks and indices that track the performance of digital assets to leading traditional finance institutions, including exchanges and asset managers; CoinDesk Data, a comprehensive suite of digital assets market data and analytics, providing real-time insights into prices, trends, and market dynamics; and CoinDesk Insights offers news, analysis, information, conferences and networking opportunities related to digital assets, blockchain technology and the broader financial technology industry. Bullish was founded in 2020 and is based in George Town, Cayman Islands.
Similar companies
For informational purposes only. Kvantra provides data and quantitative analysis, not investment advice. KvantraRank is a mechanical model output. Analyst price targets and ratings are sourced from third parties and are not Kvantra recommendations. Past performance does not guarantee future results; all investments carry risk.
No price history available.
Consensus from external analysts. Not Kvantra's opinion.
Based on consensus from external analysts. Not Kvantra's opinion.
Bullish, a global digital asset platform that provides market infrastructure and information services in United States. The company operates Bullish Exchange, a digital assets spot and derivatives exchange that integrates a central limit order book matching engine with automated market making to provide deep and predictable liquidity. It also offers CoinDesk Indices, a collection of tradable proprietary and single-asset benchmarks and indices that track the performance of digital assets to leading traditional finance institutions, including exchanges and asset managers; CoinDesk Data, a comprehensive suite of digital assets market data and analytics, providing real-time insights into prices, trends, and market dynamics; and CoinDesk Insights offers news, analysis, information, conferences and networking opportunities related to digital assets, blockchain technology and the broader financial technology industry. Bullish was founded in 2020 and is based in George Town, Cayman Islands.
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