Bakkt (BKKT-WT) FCF Margin (2021 - 2026)
Bakkt (BKKT-WT) posted FCF Margin of 8.71% for Q2 2026, down 75.41% on a QoQ basis from 4.96% in Q1 2026, and down 966.0% year-over-year from 1.01% in Q2 2025.
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Analysis
Bakkt (BKKT-WT) FCF Margin (2021 - 2026) Analysis & Trends
Bakkt has reported FCF Margin for 6 years, with the latest figure at 8.71% in Q2 2026.
- On a quarterly basis, FCF Margin fell 966.0% year-over-year to 8.71% in Q2 2026; TTM through Jun 2026 was 7.57%, a 514.0% decrease from a year earlier, with the FY2025 full-year figure at 6.62%, down 591.0% from the prior year.
- FCF Margin was 8.71% for Q2 2026 at Bakkt, down from 4.96% in the prior quarter.
- The five-year high for FCF Margin was 11.1% in Q3 2023, with the low at 385.51% in Q1 2023.
- Average FCF Margin over 5 years is 84.42%, with a median of 9.07% recorded in 2026.
- The sharpest annual moves came in 2022 and 2024: FCF Margin sank 22775 bps in 2022, then soared 38979 bps in 2024.
- Over 5 years, FCF Margin stood at 199.28% in 2022, then jumped by 97 bps to 5.16% in 2023, then jumped by 134 bps to 1.78% in 2024, then slumped by 303 bps to 3.61% in 2025, then tumbled by 141 bps to 8.71% in 2026.
- The last three FCF Margin figures came in at 8.71% (Q2 2026), 4.96% (Q1 2026), and 3.61% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 47.21 Bn | 38.42 Bn | 1.16 Bn | 16.17% |
| 2 | Bullish | 4.54 Bn | 4.44 Bn | 15.53 Mn | 0.05% |
| 3 | Canton Strategic Holdings | 483.83 Mn | 483.83 Mn | - | -468.09% |
| 4 | Cypherpunk Technologies | 477.41 Mn | 477.41 Mn | - | - |
| 5 | Coincheck | 271.17 Mn | 169.57 Mn | 11.20 Mn | -0.95% |
| 6 | Wewards | 214.97 Mn | 214.97 Mn | - | - |
| 7 | Usbc | 194.69 Mn | 191.03 Mn | - | - |
| 8 | TON Strategy | 188.89 Mn | 188.86 Mn | - | - |
| 9 | Universal Token | 174.68 Mn | 174.68 Mn | - | - |
| 10 | Bakkt | 663,025.70 | -50.03 Mn | 2.21 Mn | -8.71% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -8.71% |
| Mar 31, 2026 | -4.96% |
| Dec 31, 2025 | -3.61% |
| Sep 30, 2025 | -11.60% |
| Jun 30, 2025 | 0.95% |
| Mar 31, 2025 | -9.43% |
| Dec 31, 2024 | 1.78% |
| Sep 30, 2024 | -7.80% |
| Jun 30, 2024 | -13.01% |
| Mar 31, 2024 | 4.28% |
| Dec 31, 2023 | -5.16% |
| Sep 30, 2023 | 11.10% |
| Jun 30, 2023 | -9.66% |
| Mar 31, 2023 | -385.51% |
| Dec 31, 2022 | -199.28% |
| Sep 30, 2022 | -312.15% |
| Jun 30, 2022 | -277.27% |
| Mar 31, 2022 | -289.48% |
| Mar 31, 2021 | -61.73% |