Bullish (BLSH) FCF Margin (2024 - 2026)
Bullish's (BLSH) quarterly FCF Margin came in at 0.05% in Q2 2026, up 2.0% year-over-year from 0.05% in Q2 2025, and down 69.5% quarter-over-quarter from 0.18% in Q1 2026.
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Analysis
Bullish (BLSH) FCF Margin (2024 - 2026) Analysis & Trends
Bullish has disclosed FCF Margin across 3 years of filings, most recently posting 0.05% for Q2 2026.
- In Q2 2026, FCF Margin rose 2.0% year-over-year to 0.05%; the TTM figure through Jun 2026 stood at 0.07% (up 3.0% YoY), while the FY2025 annual figure was 0.02%, changed 0.0% from the prior year.
- FCF Margin came in at 0.05% for Q2 2026 at Bullish, down from 0.18% in the prior quarter.
- In the past five years, FCF Margin ranged from a high of 0.18% in Q1 2026 to a low of 0.11% in Q3 2025.
- Average FCF Margin over 3 years is 0.04%, with a median of 0.03% recorded in 2025.
- Year-over-year, FCF Margin slipped 9 bps in 2025 and climbed 18 bps in 2026.
- Over 3 years, FCF Margin stood at 0.15% in 2024, then slipped by 28 bps to 0.11% in 2025, then sank by 50 bps to 0.05% in 2026.
- Per Business Quant data, the three most recent FCF Margin figures were 0.05% in Q2 2026, 0.18% in Q1 2026, and 0.11% in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Bitmine Immersion Technologies | 57.68 Bn | 57.34 Bn | 40.81 Mn | -4,558.91% |
| 2 | Coinbase Global | 52.26 Bn | 43.47 Bn | 1.16 Bn | 16.17% |
| 3 | PayPal Holdings | 45.26 Bn | 34.01 Bn | - | 20.44% |
| 4 | Block | 44.88 Bn | 38.42 Bn | 3.17 Bn | -114.17% |
| 5 | Iren | 35.80 Bn | 28.23 Bn | 103.89 Mn | 351.43% |
| 6 | Corpay | 25.96 Bn | 19.27 Bn | 1.19 Bn | 105.74% |
| 7 | Fiserv | 24.43 Bn | 23.83 Bn | 3.59 Bn | 18.61% |
| 8 | Global Payments | 22.33 Bn | 17.57 Bn | 2.03 Bn | 12.86% |
| 9 | Hut 8 | 12.62 Bn | 6.14 Bn | 48.04 Mn | -12.84% |
| 10 | Bullish | 6.05 Bn | 5.99 Bn | 15.53 Mn | 0.05% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 0.05% |
| Mar 31, 2026 | 0.18% |
| Dec 31, 2025 | 0.11% |
| Sep 30, 2025 | -0.11% |
| Jun 30, 2025 | 0.03% |
| Mar 31, 2025 | 0.00% |
| Dec 31, 2024 | 0.06% |
| Sep 30, 2024 | -0.02% |
| Jun 30, 2024 | 0.00% |
API Access
Bullish FCF Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=fcf-margin&ticker=BLSH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "ticker": "BLSH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=fcf-margin&ticker=BLSH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();