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StockVS

NYSE · Software - Infrastructure · USD

Bullish (BLSH) Stock Analysis

Bullish (BLSH) is a Software - Infrastructure stock listed on NYSE and quoted in US Dollar.

Last Updated: October 21, 2026

BLSH

$29.77

+$1.06 (+3.69%)

Oct 21, 2026 · Market close

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Price History

Hover for the daily close. The dotted line marks the period open.

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BLSH Key Statistics

As of Oct 21, 2026
Trading
Open
$29.47
Previous Close
$28.71
Day's Range
28.84–29.85
52-Week Range
20.55–60.52
Volume
1.34M
Valuation
Market Cap
$4.83B
P/E Ratio
unprofitable
Forward P/EShare price divided by forecast earnings for the year ahead, rather than the year just past.
44.74
P/S ratioMarket value divided by annual revenue. Useful for companies that are not yet profitable, where a P/E cannot be calculated.
16.07
EPS (ttm)Profit attributable to each share over the last twelve months.
−9.70
Financials (FY)
Revenue (FY)
$244.97B−2.11%
Net Income (FY)
−$764.68M−1,073.78%
Shares OutstandingThe total number of shares held by all investors. Market value is this figure multiplied by the share price.
151.65M
1-Year Return
−48.02%
Dividend and dates
Earnings Date
November 18, 2026estimated
Avg Volume
1.48M

Only metrics the company reports are shown. Data provided by Yahoo Finance via yfinance. Updated daily.

Key facts

As of October 21, 2026, BLSH closed at $29.77, −48.02% over 1 year.

Bullish (BLSH) has a market capitalization of $4.83B.

In fiscal 2025, BLSH reported revenue of $244.97B.

BLSH Stock Return by Calendar Year

Bullish (BLSH) return since Aug 2025: what $10,000 became

1 year
$10,000 $5,198
−48.02%
Since Aug 2025
$10,000 $4,378
−56.22%

If you had invested $10,000 in Bullish (BLSH) at the close on August 13, 2025, the earliest close on record here, it would have been worth $4,378 at the close on October 21, 2026: −56.22% in total, −50.10% a year, over a partial period shorter than 10 years. A historical calculation from closing prices adjusted for splits and dividends, before fees and taxes.

Calendar-year returns computed from daily closing prices. Partial years are shown muted and marked with an asterisk.

YearReturn
2026 (partial year)−21.39%
2025 (partial year)−44.31%

As of October 21, 2026.

BLSH Revenue and Earnings by Fiscal Year

FY ends December
Fiscal yearRevenueNet incomeNet margin
2025$244.97B−$764.68M−0.3%
2024$250.26B$78.53M0.0%
2023$116.51B$1.30B1.1%
2022$72.90B−$4.25B−5.8%
Fiscal yearRevenueGross profitOperating incomeNet incomeNet margin
2025$244.97B$74.08M$50.66M−$764.68M−0.3%
2024$250.26B$5.28M$31.92M$78.53M0.0%
2023$116.51B−$21.67M$10.21M$1.30B1.1%
2022$72.90B−$6.56M$15.67M−$4.25B−5.8%

Annual figures as reported, in the company's reporting currency. As of December 31, 2025.

BLSH Valuation vs Software - Infrastructure Median

Median of 182 stocks
MetricBLSHSoftware - Infrastructure medianvs median
P/S ratio16.073.274.9x the median

Medians across 182 Software - Infrastructure stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of October 21, 2026.

Recent News

All 20 articles ↓

News provided by third-party sources. Not financial advice.

Analysis

Data-derived

Company Overview

The market values Bullish (BLSH) at $4.83B. The company sits in the Technology sector, in the Software - Infrastructure industry. The company reports 394 employees.

BLSH last closed at $29.77 on October 21, 2026. That is +$1.06 (+3.69%) against the previous close. The 52-week range on file runs from $20.55 to $60.52. The latest close sits 44.87% above that 52-week low.

Financial Health

In fiscal 2025, Bullish reported revenue of $244.97B. That is −2.11% against the prior fiscal year, when revenue was $250.26B. The same year closed with a net loss of $764.68M. Trailing earnings per share are −9.7.

Across the 4 fiscal years on file, revenue moves from $72.90B in 2022 to $244.97B in 2025. Of those 4 years, 2 report positive net income.

Valuation Assessment

No trailing P/E applies: the last reported earnings figure is negative. On forward earnings the ratio is 44.74. Measured against sales, the shares trade at 16.07 times revenue. On price-to-sales that is 4.9 times the Software - Infrastructure median of 3.27. The medians here are taken across 182 Software - Infrastructure companies that report the metric.

Over the trailing twelve months the total return is −48.02%. Annualized volatility over the trailing 1 year is 74.48%.

Growth & Income

No dividend is on file for BLSH.

2026 is still running; the total return is −21.39% year to date.

Peer Comparison

Bullish (BLSH) operates in the Software - Infrastructure industry. Here is how it compares to its closest peers by market capitalization:

Company Ticker Market Cap P/E Ratio
Bullish BLSH $4.83B —
Microsoft Corporation MSFT $3.96T 29.7
Palantir Technologies Inc. PLTR $484.74B 173.9
Oracle Corporation ORCL $391.46B 20.2

The Software - Infrastructure industry average P/E ratio is 30.2x. Bullish has no P/E ratio because it is not currently profitable.

Every figure above is read from this page's own data on each daily rebuild. Informational only, not financial advice. As of October 21, 2026.

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About Bullish

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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