Bullish (BLSH) Enterprise Value (2023 - 2025)
Bullish recorded quarterly Enterprise Value of -$87.9 million in Q4 2025, down 63.61% quarter-over-quarter from -$53.7 million in Q2 2025, and down 178.67% year-over-year from $111.7 million in Q4 2024.
Bullish's Enterprise Value history runs 3 years deep, the most recent figure standing at -$87.9 million for Q4 2025.
- In Q4 2025, Enterprise Value fell 178.67% year-over-year to -$87.9 million; the TTM figure through Dec 2025 stood at -$87.9 million (down 178.67% YoY), while the FY2025 annual figure was -$87.9 million, down 178.67% from the prior year.
- Enterprise Value came in at -$87.9 million for Q4 2025 at Bullish, down from -$53.7 million in the prior quarter.
- In the past five years, Enterprise Value ranged from a high of -$31.5 million in Q4 2024 to a low of -$112.9 million in Q4 2023.
- A 3-year average of -$71.2 million and a median of -$70.2 million in 2024 frame the typical range for Enterprise Value.
- Across the five-year window, Enterprise Value surged 72.06% in 2024 and tumbled 178.67% in 2025, its largest moves.
- Bullish's Enterprise Value stood at -$112.9 million in 2023, then soared by 72.06% to -$31.5 million in 2024, then tumbled by 178.67% to -$87.9 million in 2025.
- According to Business Quant data, Enterprise Value over the past three periods registered -$87.9 million, -$53.7 million, and -$31.5 million for Q4 2025, Q2 2025, and Q4 2024 respectively.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Enterprise Value (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,425.08 Bn | 3,346.81 Bn | 56.06 Bn | -78.27 Bn |
| 2 | Oracle | 712.03 Bn | 673.46 Bn | 15.14 Bn | -38.58 Bn |
| 3 | Palantir Technologies | 384.58 Bn | 376.66 Bn | 1.42 Bn | -7.92 Bn |
| 4 | Palo Alto Networks | 208.80 Bn | 204.26 Bn | 1.91 Bn | -4.54 Bn |
| 5 | CrowdStrike Holdings | 195.63 Bn | 192.58 Bn | 993.68 Mn | -3.06 Bn |
| 6 | Fortinet | 108.69 Bn | 105.40 Bn | 1.49 Bn | -3.29 Bn |
| 7 | Cloudflare | 95.27 Bn | 94.32 Bn | 455.60 Mn | -943.18 Mn |
| 8 | Synopsys | 93.41 Bn | 93.30 Bn | 1.77 Bn | -117.84 Mn |
| 9 | CoreWeave | 65.84 Bn | 63.57 Bn | 2.01 Bn | -2.27 Bn |
| 10 | Bullish | 4.10 Bn | 4.01 Bn | -64,323,503.65 Bn | -87.89 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -87.89 Mn |
| Jun 30, 2025 | -53.72 Mn |
| Dec 31, 2024 | -31.54 Mn |
| Jun 30, 2024 | -70.16 Mn |
| Dec 31, 2023 | -112.90 Mn |