Bullish (BLSH) Invested Capital (2023 - 2025)
Bullish recorded quarterly Invested Capital of $3.9 billion in Q4 2025, up 465737.52% quarter-over-quarter from $829000.0 in Q3 2025, and up 33.95% year-over-year from $2.9 billion in Q4 2024.
Bullish's Invested Capital history runs 3 years deep, the most recent figure standing at $3.9 billion for Q4 2025.
- In Q4 2025, Invested Capital rose 33.95% year-over-year to $3.9 billion; the TTM figure through Dec 2025 stood at $3.9 billion (up 33.95% YoY), while the FY2025 annual figure was $3.9 billion, up 33.95% from the prior year.
- Invested Capital came in at $3.9 billion for Q4 2025 at Bullish, up from $829000.0 in the prior quarter.
- In the past five years, Invested Capital ranged from a high of $3.9 billion in Q4 2025 to a low of $829000.0 in Q3 2025.
- A 3-year average of $2.0 billion and a median of $2.1 billion in 2023 frame the typical range for Invested Capital.
- Across the five-year window, Invested Capital jumped 123.76% in 2024 and surged 33.95% in 2025, its largest moves.
- Bullish's Invested Capital stood at $1.3 billion in 2023, then jumped by 123.76% to $2.9 billion in 2024, then jumped by 33.95% to $3.9 billion in 2025.
- According to Business Quant data, Invested Capital over the past three periods registered $3.9 billion, $829000.0, and $2.9 billion for Q4 2025, Q3 2025, and Q4 2024 respectively.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,425.08 Bn | 3,346.81 Bn | 56.06 Bn | 423.21 Bn |
| 2 | Oracle | 712.03 Bn | 673.46 Bn | 15.14 Bn | 38.50 Bn |
| 3 | Palantir Technologies | 384.58 Bn | 376.66 Bn | 1.42 Bn | 8.45 Bn |
| 4 | Palo Alto Networks | 208.80 Bn | 204.26 Bn | 1.91 Bn | 9.39 Bn |
| 5 | CrowdStrike Holdings | 195.63 Bn | 192.58 Bn | 993.68 Mn | 4.43 Bn |
| 6 | Fortinet | 108.69 Bn | 105.40 Bn | 1.49 Bn | 989.70 Mn |
| 7 | Cloudflare | 95.27 Bn | 94.32 Bn | 455.60 Mn | 2.82 Bn |
| 8 | Synopsys | 93.41 Bn | 93.30 Bn | 1.77 Bn | 40.59 Bn |
| 9 | CoreWeave | 65.84 Bn | 63.57 Bn | 2.01 Bn | 29.62 Bn |
| 10 | Bullish | 4.10 Bn | 4.01 Bn | -64,323,503.65 Bn | 3.86 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 3.86 Bn |
| Sep 30, 2025 | 829,000.00 |
| Dec 31, 2024 | 2.88 Bn |
| Dec 31, 2023 | 1.29 Bn |