Software - Infrastructure
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BLSH vs MARA
Revenue, margins, valuation, and 5-year total return — side by side.
Financial - Capital Markets
BLSH vs MARA — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||
|---|---|---|
| Industry | Software - Infrastructure | Financial - Capital Markets |
| Market Cap | $6.20B | $4.83B |
| Revenue (TTM) | $244.91B | $907M |
| Net Income (TTM) | $-765M | $-1.31B |
| Gross Margin | 0.1% | -47.7% |
| Operating Margin | -0.0% | -90.6% |
| Forward P/E | 66.1x | — |
| Total Debt | $601M | $3.65B |
| Cash & Equiv. | $105M | $547M |
Quick Verdict: BLSH vs MARA
Each card shows where this stock fits in a portfolio — not just who wins on paper.
BLSH is the clearest fit if your priority is income & stability and long-term compounding.
- Dividend streak 2 yrs, beta 2.64
- -39.5% 10Y total return vs MARA's -51.6%
- Lower volatility, beta 2.64, Low D/E 18.2%, current ratio 29.28x
MARA carries the broadest edge in this set and is the clearest fit for growth exposure.
- Rev growth 38.2%, EPS growth -314.5%
- 38.2% NII/revenue growth vs BLSH's -2.2%
- -4.7% vs BLSH's -39.5%
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 38.2% NII/revenue growth vs BLSH's -2.2% | |
| Quality / Margins | -0.3% margin vs MARA's -144.6% | |
| Stability / Safety | Beta 2.64 vs MARA's 3.11, lower leverage | |
| Dividends | Tie | Neither stock pays a meaningful dividend |
| Momentum (1Y) | -4.7% vs BLSH's -39.5% | |
| Efficiency (ROA) | -17.1% ROA vs BLSH's -19.3%, ROIC -9.0% vs -2.3% |
BLSH vs MARA — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
BLSH vs MARA — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
Income & Cash Flow (Last 12 Months)
BLSH leads this category, winning 5 of 5 comparable metrics.
Income & Cash Flow (Last 12 Months)
BLSH is the larger business by revenue, generating $244.9B annually — 270.0x MARA's $907M. BLSH is the more profitable business, keeping -0.3% of every revenue dollar as net income compared to MARA's -144.6%.
| Metric | ||
|---|---|---|
| RevenueTrailing 12 months | $244.9B | $907M |
| EBITDAEarnings before interest/tax | -$7M | $627M |
| Net IncomeAfter-tax profit | -$765M | -$1.3B |
| Free Cash FlowCash after capex | -$77M | -$312M |
| Gross MarginGross profit ÷ Revenue | +0.1% | -47.7% |
| Operating MarginEBIT ÷ Revenue | -0.0% | -90.6% |
| Net MarginNet income ÷ Revenue | -0.3% | -144.6% |
| FCF MarginFCF ÷ Revenue | -0.0% | -34.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | -2.6% | — |
| EPS Growth (YoY)Latest quarter vs prior year | -4.4% | -4.8% |
Valuation Metrics
BLSH leads this category, winning 2 of 3 comparable metrics.
Valuation Metrics
| Metric | ||
|---|---|---|
| Market CapShares × price | $6.2B | $4.8B |
| Enterprise ValueMkt cap + debt − cash | $6.7B | $7.9B |
| Trailing P/EPrice ÷ TTM EPS | -6.87x | -3.44x |
| Forward P/EPrice ÷ next-FY EPS est. | 66.05x | — |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | — | — |
| Price / SalesMarket cap ÷ Revenue | 0.03x | 5.32x |
| Price / BookPrice ÷ Book value/share | 1.59x | 1.30x |
| Price / FCFMarket cap ÷ FCF | — | — |
Profitability & Efficiency
BLSH leads this category, winning 7 of 9 comparable metrics.
Profitability & Efficiency
BLSH delivers a -23.2% return on equity — every $100 of shareholder capital generates $-23 in annual profit, vs $-31 for MARA. BLSH carries lower financial leverage with a 0.18x debt-to-equity ratio, signaling a more conservative balance sheet compared to MARA's 1.05x. On the Piotroski fundamental quality scale (0–9), BLSH scores 4/9 vs MARA's 3/9, reflecting mixed financial health.
| Metric | ||
|---|---|---|
| ROE (TTM)Return on equity | -23.2% | -30.5% |
| ROA (TTM)Return on assets | -19.3% | -17.1% |
| ROICReturn on invested capital | -2.3% | -9.0% |
| ROCEReturn on capital employed | -3.1% | -12.1% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 3 |
| Debt / EquityFinancial leverage | 0.18x | 1.05x |
| Net DebtTotal debt minus cash | $497M | $3.1B |
| Cash & Equiv.Liquid assets | $105M | $547M |
| Total DebtShort + long-term debt | $601M | $3.6B |
| Interest CoverageEBIT ÷ Interest expense | -14.02x | 4.73x |
Total Returns (Dividends Reinvested)
MARA leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in BLSH five years ago would be worth $6,051 today (with dividends reinvested), compared to $4,054 for MARA. Over the past 12 months, MARA leads with a -4.7% total return vs BLSH's -39.5%. The 3-year compound annual growth rate (CAGR) favors MARA at 10.8% vs BLSH's -15.4% — a key indicator of consistent wealth creation.
| Metric | ||
|---|---|---|
| YTD ReturnYear-to-date | +4.8% | +28.2% |
| 1-Year ReturnPast 12 months | -39.5% | -4.7% |
| 3-Year ReturnCumulative with dividends | -39.5% | +36.1% |
| 5-Year ReturnCumulative with dividends | -39.5% | -59.5% |
| 10-Year ReturnCumulative with dividends | -39.5% | -51.6% |
| CAGR (3Y)Annualised 3-year return | -15.4% | +10.8% |
Risk & Volatility
Evenly matched — BLSH and MARA each lead in 1 of 2 comparable metrics.
Risk & Volatility
BLSH is the less volatile stock with a 2.64 beta — it tends to amplify market swings less than MARA's 3.11 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. MARA currently trades 54.2% from its 52-week high vs BLSH's 34.9% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ||
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 2.64x | 3.11x |
| 52-Week HighHighest price in past year | $118.00 | $23.45 |
| 52-Week LowLowest price in past year | $24.79 | $6.66 |
| % of 52W HighCurrent price vs 52-week peak | +34.9% | +54.2% |
| RSI (14)Momentum oscillator 0–100 | 60.8 | 69.6 |
| Avg Volume (50D)Average daily shares traded | 1.2M | 47.6M |
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Wall Street rates BLSH as "Buy" and MARA as "Buy". Consensus price targets imply 27.0% upside for MARA (target: $16) vs 21.5% for BLSH (target: $50).
| Metric | ||
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $50.00 | $16.13 |
| # AnalystsCovering analysts | 7 | 19 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | 2 | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +1.0% |
BLSH leads in 3 of 6 categories (Income & Cash Flow, Valuation Metrics). MARA leads in 1 (Total Returns). 1 tied.
BLSH vs MARA: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is BLSH or MARA a better buy right now?
For growth investors, Marathon Digital Holdings, Inc.
(MARA) is the stronger pick with 38. 2% revenue growth year-over-year, versus -2. 2% for Bullish (BLSH). Analysts rate Bullish (BLSH) a "Buy" — based on 7 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — BLSH or MARA?
Over the past 5 years, Bullish (BLSH) delivered a total return of -39.
5%, compared to -59. 5% for Marathon Digital Holdings, Inc. (MARA). Over 10 years, the gap is even starker: BLSH returned -39. 5% versus MARA's -51. 6%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — BLSH or MARA?
By beta (market sensitivity over 5 years), Bullish (BLSH) is the lower-risk stock at 2.
64β versus Marathon Digital Holdings, Inc. 's 3. 11β — meaning MARA is approximately 17% more volatile than BLSH relative to the S&P 500. On balance sheet safety, Bullish (BLSH) carries a lower debt/equity ratio of 18% versus 105% for Marathon Digital Holdings, Inc. — giving it more financial flexibility in a downturn.
04Which is growing faster — BLSH or MARA?
By revenue growth (latest reported year), Marathon Digital Holdings, Inc.
(MARA) is pulling ahead at 38. 2% versus -2. 2% for Bullish (BLSH). On earnings-per-share growth, the picture is similar: Marathon Digital Holdings, Inc. grew EPS -314. 5% year-over-year, compared to -1209. 3% for Bullish. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
05Which has better profit margins — BLSH or MARA?
Bullish (BLSH) is the more profitable company, earning -0.
3% net margin versus -144. 6% for Marathon Digital Holdings, Inc. — meaning it keeps -0. 3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BLSH leads at -0. 0% versus -90. 6% for MARA. At the gross margin level — before operating expenses — BLSH leads at 0. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is BLSH or MARA more undervalued right now?
Analyst consensus price targets imply the most upside for MARA: 27.
0% to $16. 13.
07Which pays a better dividend — BLSH or MARA?
None of the stocks in this comparison currently pay a material dividend.
All are effectively zero-yield and should be held for capital appreciation rather than income.
08Is BLSH or MARA better for a retirement portfolio?
For long-horizon retirement investors, Bullish (BLSH) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding.
Marathon Digital Holdings, Inc. (MARA) carries a higher beta of 3. 11 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (BLSH: -39. 5%, MARA: -51. 6%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between BLSH and MARA?
These companies operate in different sectors (BLSH (Technology) and MARA (Financial Services)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.
In terms of investment character: BLSH is a small-cap quality compounder stock; MARA is a small-cap high-growth stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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