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Wednesday 4 November 2026
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Bullish
BLSH Technology Software Infrastructure
Bullish’s revenue for fiscal 2025 (year ended December 2025) was $245.0 billion, down 2.11% from fiscal 2024.
- Revenue
- −44.3%
- EPS
- −287.4%
- Free cash flow
- +2.25%
- Total debt
- −13.5%
Quarter to June 2026, against a year earlier
23.39
0.43
+1.87%
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Bullish (BLSH) Operating margin
Bullish's operating margin over the twelve months to 30 June 2026 was −0.78%, down 0.5 percentage points from fiscal 2025 (−0.30%). That is below the Software Infrastructure industry median of 0.00% and below the Technology sector median of 0.31%.
Operating margin, annual
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Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | −0.30% | (0.37) |
| FY2024 | 0.07% | (1.05) |
| FY2023 | 1.12% | — |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Jun 2026 | −0.87% | 0.42 |
| Mar 2026 | −1.29% | (0.40) |
| Dec 2025 | −0.89% | (1.01) |
| Sep 2025 | 0.12% | (0.12) |
| 6 more quarters | Free account |
Operating margin against peers
| Company | Operating margin |
|---|---|
| DLO DLocal Limited compare | 17.4% |
| CLBT Cellebrite DI Ltd. compare | 10.9% |
| AVPT AvePoint, Inc. compare | 9.78% |
| FOUR Shift4 Payments, Inc. compare | 8.11% |
| TDC Teradata Corporation compare | 7.51% |
| APPN Appian Corporation compare | 1.28% |
| BLSH Bullish | −0.78% |
| WIX Wix.com Ltd. compare | −9.77% |
| TCGL TechCreate Group Ltd. compare | — |
| Software Infrastructure industry median | 0.00% |
| Technology sector median | 0.31% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
More on BLSH
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- The full statement