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BULLISH (BLSH) Stock Fundamental Analysis

USA - NYSE:BLSH - KYG169101204 - Common Stock

62.59 USD
+0.76 (+1.23%)
Last: 9/26/2025, 8:04:00 PM
62.75 USD
+0.16 (+0.26%)
After Hours: 9/26/2025, 8:04:00 PM
Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to BLSH. BLSH was compared to 237 industry peers in the Capital Markets industry. While BLSH seems to be doing ok healthwise, there are quite some concerns on its profitability. BLSH is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

In the past year BLSH was profitable.
In the past year BLSH had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: BLSH reported negative net income in multiple years.
BLSH had negative operating cash flow in 4 of the past 5 years.
BLSH Yearly Net Income VS EBIT VS OCF VS FCFBLSH Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2020 2021 2022 2023 2024 0 1B -1B -2B -3B -4B

1.2 Ratios

With a Return On Assets value of 2.95%, BLSH perfoms like the industry average, outperforming 55.27% of the companies in the same industry.
BLSH's Return On Equity of 4.01% is on the low side compared to the rest of the industry. BLSH is outperformed by 64.56% of its industry peers.
Industry RankSector Rank
ROA 2.95%
ROE 4.01%
ROIC N/A
ROA(3y)-16.69%
ROA(5y)-13.85%
ROE(3y)-40.28%
ROE(5y)-28.85%
ROIC(3y)N/A
ROIC(5y)N/A
BLSH Yearly ROA, ROE, ROICBLSH Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2020 2021 2022 2023 2024 0 100 -100 -200

1.3 Margins

The Profit Margin of BLSH (0.03%) is worse than 73.00% of its industry peers.
BLSH has a worse Gross Margin (0.04%) than 71.73% of its industry peers.
Industry RankSector Rank
OM N/A
PM (TTM) 0.03%
GM 0.04%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
BLSH Yearly Profit, Operating, Gross MarginsBLSH Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2020 2021 2022 2023 2024 0 -20 -40 -60 -80 -100

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6

2. Health

2.1 Basic Checks

BLSH has about the same amout of shares outstanding than it did 1 year ago.
Compared to 1 year ago, BLSH has an improved debt to assets ratio.
BLSH Yearly Shares OutstandingBLSH Yearly Shares OutstandingYearly Shares Outstanding 2020 2021 2022 2023 2024 50M 100M
BLSH Yearly Total Debt VS Total AssetsBLSH Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2020 2021 2022 2023 2024 2B 4B 6B

2.2 Solvency

An Altman-Z score of 101.80 indicates that BLSH is not in any danger for bankruptcy at the moment.
The Altman-Z score of BLSH (101.80) is better than 100.00% of its industry peers.
BLSH has a Debt/Equity ratio of 0.28. This is a healthy value indicating a solid balance between debt and equity.
BLSH's Debt to Equity ratio of 0.28 is fine compared to the rest of the industry. BLSH outperforms 75.11% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.28
Debt/FCF N/A
Altman-Z 101.8
ROIC/WACCN/A
WACCN/A
BLSH Yearly LT Debt VS Equity VS FCFBLSH Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2020 2021 2022 2023 2024 0 2B 4B 6B

2.3 Liquidity

A Current Ratio of 15.98 indicates that BLSH has no problem at all paying its short term obligations.
BLSH has a better Current ratio (15.98) than 98.31% of its industry peers.
BLSH has a Quick Ratio of 14.76. This indicates that BLSH is financially healthy and has no problem in meeting its short term obligations.
With an excellent Quick ratio value of 14.76, BLSH belongs to the best of the industry, outperforming 97.89% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 15.98
Quick Ratio 14.76
BLSH Yearly Current Assets VS Current LiabilitesBLSH Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2020 2021 2022 2023 2024 2B 4B 6B

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4

3. Growth

3.1 Past

BLSH shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -93.92%.
BLSH shows a strong growth in Revenue. In the last year, the Revenue has grown by 114.78%.
Measured over the past years, BLSH shows a very strong growth in Revenue. The Revenue has been growing by 474.20% on average per year.
EPS 1Y (TTM)-93.92%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-430%
Revenue 1Y (TTM)114.78%
Revenue growth 3Y474.21%
Revenue growth 5YN/A
Sales Q2Q%-0.21%

3.2 Future

BLSH is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 22.76% yearly.
The Revenue is expected to decrease by -79.13% on average over the next years. This is quite bad
EPS Next Y-49.74%
EPS Next 2Y21.14%
EPS Next 3Y24.86%
EPS Next 5Y22.76%
Revenue Next Year-99.9%
Revenue Next 2Y-96.44%
Revenue Next 3Y-88.66%
Revenue Next 5Y-79.13%

3.3 Evolution

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
BLSH Yearly Revenue VS EstimatesBLSH Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2021 2022 2023 2024 2025 2026 2027 2028 50B 100B 150B 200B 250B
BLSH Yearly EPS VS EstimatesBLSH Yearly EPS VS EstimatesYearly EPS VS Estimates 2025 2026 2027 2028 0.2 0.4 0.6 0.8 1

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1

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 118.09, BLSH can be considered very expensive at the moment.
Based on the Price/Earnings ratio, BLSH is valued a bit more expensive than the industry average as 79.75% of the companies are valued more cheaply.
The average S&P500 Price/Earnings ratio is at 27.32. BLSH is valued rather expensively when compared to this.
BLSH is valuated quite expensively with a Price/Forward Earnings ratio of 80.48.
Based on the Price/Forward Earnings ratio, BLSH is valued a bit more expensive than the industry average as 73.42% of the companies are valued more cheaply.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.89, BLSH is valued quite expensively.
Industry RankSector Rank
PE 118.09
Fwd PE 80.48
BLSH Price Earnings VS Forward Price EarningsBLSH Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80 100

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
BLSH Per share dataBLSH EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 500 1K 1.5K

4.3 Compensation for Growth

A more expensive valuation may be justified as BLSH's earnings are expected to grow with 24.86% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y21.14%
EPS Next 3Y24.86%

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0

5. Dividend

5.1 Amount

BLSH does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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BULLISH

NYSE:BLSH (9/26/2025, 8:04:00 PM)

After market: 62.75 +0.16 (+0.26%)

62.59

+0.76 (+1.23%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)N/A N/A
Earnings (Next)N/A N/A
Inst Owners0.24%
Inst Owner ChangeN/A
Ins Owners68.11%
Ins Owner ChangeN/A
Market Cap9.32B
AnalystsN/A
Price Target58.01 (-7.32%)
Short Float %5.02%
Short Ratio0.32
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr YearsN/A
Div Non Decr YearsN/A
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)N/A
PT rev (3m)N/A
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
Industry RankSector Rank
PE 118.09
Fwd PE 80.48
P/S 0.04
P/FCF N/A
P/OCF 240.37
P/B 4.76
P/tB 5
EV/EBITDA N/A
EPS(TTM)0.53
EY0.85%
EPS(NY)0.78
Fwd EY1.24%
FCF(TTM)-0.12
FCFYN/A
OCF(TTM)0.26
OCFY0.42%
SpS1680.11
BVpS13.15
TBVpS12.51
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 2.95%
ROE 4.01%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 0.03%
GM 0.04%
FCFM N/A
ROA(3y)-16.69%
ROA(5y)-13.85%
ROE(3y)-40.28%
ROE(5y)-28.85%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-ScoreN/A
Asset Turnover93.89
Health
Industry RankSector Rank
Debt/Equity 0.28
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 663.45%
Cap/Sales 0.02%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 15.98
Quick Ratio 14.76
Altman-Z 101.8
F-ScoreN/A
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)79.12%
Cap/Depr(5y)N/A
Cap/Sales(3y)0%
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-93.92%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-430%
EPS Next Y-49.74%
EPS Next 2Y21.14%
EPS Next 3Y24.86%
EPS Next 5Y22.76%
Revenue 1Y (TTM)114.78%
Revenue growth 3Y474.21%
Revenue growth 5YN/A
Sales Q2Q%-0.21%
Revenue Next Year-99.9%
Revenue Next 2Y-96.44%
Revenue Next 3Y-88.66%
Revenue Next 5Y-79.13%
EBIT growth 1Y-38.3%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year210.56%
EBIT Next 3Y68.67%
EBIT Next 5Y52.07%
FCF growth 1Y64.2%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y76.33%
OCF growth 3YN/A
OCF growth 5YN/A