Bullish (BLSH) Invested Capital (2023 - 2026)
Bullish's Invested Capital was $2.96 billion in Q2 2026, down 5.2% from $3.12 billion a year earlier and down 7.1% from the prior quarter.
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Analysis
Bullish (BLSH) Invested Capital (2023 - 2026) Analysis & Trends
For FY2025, Invested Capital at Bullish came in at $3.85 billion, up 32.5% from FY2024.
- In earlier years, Invested Capital was $2.91 billion in FY2024.
- The Q2 2026 figure marks the lowest quarterly Invested Capital since Q4 2024.
- Per Business Quant data, BLSH's Invested Capital in the three quarters before Q2 2026 was $3.19 billion (Q1 2026), $3.85 billion (Q4 2025) and $4.54 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | PayPal Holdings | 49.49 Bn | 7.72 Bn | - | 33.22 Bn |
| 2 | Block | 46.34 Bn | 17.64 Bn | 3.17 Bn | 28.93 Bn |
| 3 | Coinbase Global | 44.39 Bn | 1.20 Bn | - | 19.56 Bn |
| 4 | Corpay | 26.40 Bn | 16.28 Bn | - | 14.21 Bn |
| 5 | Fiserv | 25.40 Bn | 22.08 Bn | 2.90 Bn | 54.81 Bn |
| 6 | Global Payments | 22.86 Bn | 652.84 Mn | 2.03 Bn | 47.31 Bn |
| 7 | Guidewire Software | 14.45 Bn | 11.02 Bn | 269.68 Mn | 1.87 Bn |
| 8 | Bitmine Immersion Technologies | 11.93 Bn | 9.31 Bn | 40.81 Mn | - |
| 9 | Chime Financial | 11.25 Bn | 7.04 Bn | 594.87 Mn | 1.45 Bn |
| 10 | Bullish | 3.49 Bn | -1.33 Bn | 15.53 Mn | 2.46 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 2.46 Bn |
| Mar 31, 2026 | 2.71 Bn |
| Dec 31, 2025 | 3.90 Bn |
| Sep 30, 2025 | 4.03 Bn |
| Jun 30, 2025 | 2.62 Bn |
| Mar 31, 2025 | -449.62 Mn |
| Dec 31, 2024 | 3.06 Bn |
| Sep 30, 2024 | 359.56 Mn |
| Jun 30, 2024 | 396.03 Bn |
| Dec 31, 2023 | 1.29 Bn |
API Access
Bullish Invested Capital 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=invested-capital&ticker=BLSH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "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=invested-capital&ticker=BLSH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();