Company Deep Dive
Business segments breakdown, earnings transcript analysis, management credibility scoring, competitive landscape, and scenario modelling.
BLSH
Strong SellSinkerBullish · Technology · Cayman Islands · $5.0B · Avg Vol: $55M/d
COMPANY DESCRIPTION
Bullish is a technology company that operates a regulated, institutional-grade cryptocurrency exchange utilizing proprietary automated market-making (AMM) technology. The company's competitive moat is anchored by its massive, multi-billion-dollar balance sheet, which provides deep, reliable liquidity to institutional traders even during periods of high market volatility. By combining the performance of central order books with the liquidity depth of decentralized finance (DeFi) protocols, Bullish occupies a unique niche in the digital asset infrastructure market.
FINANCIAL SUMMARY (USD)
| Year | 2022 | 2023 | 2024 | 2025 | CAGR | TTM | 2026E | 2027E | Fwd CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 72.9B | 116.5B | 250.3B | 245.0B | 49.8% | — | 303.4B | 344.7B | 18.6% |
| EPS | -29.04 | 8.89 | 0.54 | -6.15 | -94.0% | -10.00 | — | — | — |
| Shares | 146.2M | 146.2M | 146.2M | 150.8M | +3.2% | 151.6M | — | — | — |
| Debt | 14.1M | 440.4M | 543.1M | 581.1M | 245.2% | 518.2M | — | — | — |
| Equity | 1.9B | 1.3B | 2.4B | 3.2B | 19.5% | — | — | — | — |
| Op CF | 194.9M | -126.7M | -30.0M | 28.6M | -47.2% | 123.0M | — | — | — |
| Inv CF | -1.3M | 3.9M | -45.1M | 2.1M | — | — | — | — | — |
| Fin CF | -7.7M | -1.2B | -1.0M | 42.4M | — | — | — | — | — |
SCORE BREAKDOWN
FUNDAMENTALS
SECTOR PEERS
Closest peers in Technology, ranked by industry match, size, and score similarity. Cross-listings of BLSH are excluded.
| Ticker | Company | Mkt Cap | StockRank | Signal |
|---|---|---|---|---|
| BLSH | Bullish(you) | $5.0B | 9 | Strong Sell |
| STNE | StoneCo Ltd. | $2.2B | 65 | Buy |
| 6415.TW | Silergy Corp. | $5.6B | 41 | Hold |
| 4991.TWO | GCS Holdings, Inc. | $2.0B | 35 | Hold |
| 4927.TW | Apex International Co., Ltd. | $360M | 8 | Strong Sell |
| 4977.TW | PCL Technologies, Inc. | $495M | 18 | Strong Sell |
| FN | Fabrinet | $14.8B | 54 | Hold |
| 6456.TW | General Interface Solution (GIS) Holding Limited | $776M | 40 | Hold |
| 4958.TW | Zhen Ding Technology Holding Limited | $16.8B | 72 | Buy |
| 6863.TW | Arizon RFID Technology (Cayman) Co., Ltd. | $259M | 39 | Hold |
Peer medians: ROE 11.9% · P/E 31.2x · Gross margin 27.1%