Bullish (BLSH)
Valuation Overview•Is Bullish Overvalued or Undervalued?
Commands a peer premium multiple, but this multiple is justified by a strong intrinsic cash flow value.
Fragile underlying quality score of 32/100; weak margins or elevated debt leverage warrant caution.
Analysts remain bullish, forecasting further upside expansion with consensus targets suggesting solid gains.
Verdict: Mixed fundamental profile with offsetting strengths and weaknesses.
Wall Street is highly bullish, projecting significant upside alongside robust expected earnings growth. The company currently retains all capital for reinvestment and growth rather than returning it to shareholders.
BLSH struggles with subpar profitability and pressured margins. However, the balance sheet carries elevated leverage, requiring careful monitoring of debt servicing capabilities.
The company is driving exceptional top-line expansion (49.8% 3Y CAGR) paired with stable bottom-line earnings. However, profitability remains a major concern with severely compressed operating margins (-0.0%).
| Financial Metric | Trend (12Q) | Latest Qtr | 1Y Growth | 3Y CAGR | 5Y CAGR | 10Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $51.8B | -2.1% | +49.8% | — | — | |
| EBITDA | -$55.6M | — | +45.1% | — | — | |
| Net Income | -$581.7M | -1073.8% | +43.5% | — | — | |
| EPS (Diluted) | $-3.85 | -1209.3% | — | — | — | |
| Free Cash Flow | $76.7M | +100.0% | — | — | — |
| Metric | TTM | 3Y Avg | 5Y Avg | 10Y Avg |
|---|---|---|---|---|
| Gross Margin | 0.0% | 0.0% | -15.8% | -15.8% |
| Operating Margin | -0.0% | 0.0% | -19.3% | -19.3% |
| Net Margin | -0.5% | 0.3% | -22.2% | -22.2% |
| FCF Margin | 0.0% | -0.1% | -8.6% | -8.6% |
| Quarter | EPS Est. | EPS Act. | Surprise | EPS | Rev |
|---|---|---|---|---|---|
| Q2'26Latest | $0.15 | $0.13 | -12.9% | ||
| Q1'26 | $0.14 | $0.20 | +39.6% | ||
| Q4'25 | $0.10 | $0.10 | -3.0% | ||
| Q3'25 | $-0.05 | $-0.05 | +2.4% | ||
| Q1'25 | — | $-2.35 | — | ||
| Q4'24 | — | $1.07 | — | ||
| Q3'24 | — | $-0.46 | — | ||
| Q2'24 | — | $-0.79 | — |
Total return is -65.5% (1Y), lagging the benchmark by -86.3%
| Period | Total Return | vs S&P 500 (Alpha) | Dividend Contribution |
|---|---|---|---|
| YTD | -40.2% | -47.5% | — |
| 1Y | -65.5% | -86.3% | — |
| 3YCAGR | -29.9% | -47.8% | — |
| 5YCAGR | -19.2% | -29.7% | — |
| 10YCAGR | -10.1% | -23.2% | — |
The S&P 500 is at 30.6x trailing P/E — Expensive relative to historical averages.
Quick answers to common questions about Bullish (BLSH) valuation, health, and returns.
Bullish is estimated to be undervalued under our discounted cash flow framework. relative multiples indicate the stock is Limited: Expensive versus peers compared to industry peers. undervalued (implying +1817.1% upside to DCF intrinsic value of $446.50)
Bullish has multiple valuation anchors: DCF Intrinsic Value: $446.50 | Peer Relative Fair Value: $6.60 | Wall Street Analyst Target: $51.33 (implying +120.4% upside). A convergence of these signals offers higher conviction.
Bullish displays weak financial health with a composite quality score of 32/100, supported by a Altman Z-Score of 58.0 (safe zone), Piotroski F-Score of 4/9, Return on Invested Capital (ROIC) of 1.1%.
Bullish does not return material capital to shareholders via dividends or share repurchases, electing to retain earnings to fund internal growth.
Bullish's current growth trajectory is Decelerating. The company achieved -2.1% 1Y revenue growth and -1209.3% 1Y EPS growth, compared to its 3Y revenue CAGR of +49.8%.
Wall Street consensus is Buy based on 7 analysts, beating EPS expectations in 50% of recent quarters with a -1-quarter streak. The consensus price target represents a +120.4% change from current levels.
Investment risks for Bullish include: -70.7% 1-year max drawdown, high beta (2.67x market volatility). Volatility risk is characterized by a beta of 2.67x.
No. These computations are purely quantitative model outputs for informational purposes. They do not account for qualitative management shifts or macro events. Always consult a licensed RIA before buying or selling shares.
Disclaimer: This page is for informational purposes only and does not constitute financial advice. All valuation models, scores, and target estimates are automated computations under stated assumptions and should not be relied upon as the sole basis for any investment decision.