Bullish share price today

Bullish's share price was $21.31 at the close on 6 November 2026. That is 33.3% below its average price over the last 200 trading days. In the last 52 weeks it traded between $21 and $46, and at that close it was at the low of that range.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). The phase helps read everything below.

Over the past 13 weeks it has done worse than the S&P 500, and it has been behind for 1 week running.

Over the last 1 year the share price moved −69% while the S&P 500 moved +14%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 30 October 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Bullish pays no dividend. In the last 12 reported quarters it declared no dividend per share, so there is no payout history to chart and no yield to show. Companies like this usually keep their earnings in the business, so the cash-flow sections show where that cash goes.

Bullish is on one of our US lists: US tech stocks.

Bullish posted a net loss of $270 M in the Jun 2026 quarter. That quarter includes a one-off gain bigger than its revenue, so the comparison with last year does not reflect normal business. The full FY25 year was a loss of $765 M. That loss is 335.7% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned $108 M. 8 of the last 12 reported quarters were loss-making.

Jun 2026 profit was −$270 M, −351.3% on a year earlier. For the full year, FY25 profit was −$765 M (−1,073.8% on the year before).

Read this profit with care: at −$270 M it is bigger than the quarter's whole revenue of $80.5 M. No business earns more than it takes in from sales, so this is a one-off item (for example a debt settlement, a tax write-back or an asset sale), not money the business earned. The underlying business is running at a −314.3% operating margin. The jump on last year, and any P/E built on this profit, come from the one-off, not from a real turn in earnings.

Bullish reported $80.5 M of revenue in the Jun 2026 quarter, +68.8% on the same quarter a year earlier. That is the 4th quarter in a row with growth on the year before. Over 4 years it has grown 433.4% a year on average. The last full year, FY25, came in at $237 M.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to $301 M.

FY25 revenue was $237 M, +49.7% on the year before.

Recent pace: the last four quarters grew +82.5% on average, against 433.4% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +80.5%, against +86.8% a year over the last 8 quarters (rolling over).

Bullish's operating margin was −314.3% in the Jun 2026 quarter, 431.1 percentage points lower than the same quarter a year ago. Across 5 years it has been between −4,35,362.1% and 1,474.2%. The latest quarter is within that range.

Operating margin is what is left from every $100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed −431.1 percentage points on the year while gross margin changed +0.0 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

Over the last 2 years Bullish's operations used more cash than they brought in, so cash conversion was −11%, a gap worth watching. In FY25 it brought in $28.6 M of operating cash against −$765 M of profit. After $9.9 M of spending on assets, $18.7 M was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason.

What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building.

Bullish does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $11.3 M on assets over the last 3 years. Averaged over those years that is 1.6% of FY25 revenue a year.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn.

Spending on assets: $11.3 M over the last 3 years.

In short: most of the cash goes on covering the loss, not on new assets; spending on assets is small next to it.

Bullish has no P/E right now, because its earnings are negative. The revenue and margin sections are where a turn would show first. Measured against sales instead, the market values Bullish at 13.6× its FY25 revenue of $237 M. The P/E comes back here once profit turns positive.

P/E is the share price divided by a year's profit per share: how many dollars the market pays for each dollar of yearly profit.

Why the multiple is where it is: over the past year earnings per share moved −980.9% while the price moved −52.7%. The price did better than earnings, which pushed the multiple up within its own range.

Bullish's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 7 quarters of 1 measure, with some gaps.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: with too little history, we say so rather than guess a direction.

The latest quarter’s profit includes a one-off item bigger than the normal business, so the profit line is shown but does not count in this reading.

One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result.

The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone.

There are fewer than eight usable quarters, so this page does not guess a direction from so little history.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the stock price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Bullish earned a ROE of −23% in FY25. That is up from a low of −226% in FY22. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a −322.3% net margin and 0.06× asset turnover (sales divided by assets).

Return on equity (ROE) is the profit the business earns on its shareholders’ money. We do not have the full capital split, so ROE is the longest history we can draw here.

Why the return is what it is (FY25): a −322.3% net margin × 0.06× asset turnover × 1.20× leverage (assets divided by equity) ≈ −23.2% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed.

The −28.8% ROIC above is the latest reading, as reported. The yearly chart below shows FY25 at −5.8%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method.

Bullish has total debt of $518 M against shareholder equity of $2.5 B as of Jun 2026, so its debt is 0.21× its equity, which is very little. Year by year, that ratio went from 0.19 in FY21 to 0.18 in FY25. So the returns on this page come from the business, not from borrowed money.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.

17.9% of Bullish's tradable shares are in short positions, which are bets that the price will fall, so a large group of traders is betting against it. At normal trading volumes, closing those positions would take about 5.5 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead.

There is no quarter-by-quarter list of owners here, so we look at short interest: the share of tradable shares held in short positions, which gain if the price falls.

It is a single reading at one point in time; we do not have its history.

Why it is at this level: the figure does not say who has the short positions or why, so we show the level without guessing the story.

For Bullish, the Z-score is 4.96. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is well clear of danger. It estimates how far the balance sheet is from trouble; it is not a forecast of failure.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

Why it matters: a Z-score of 4.96 is well clear of the danger zone, so the balance sheet is not the risk here.

There is no score against its industry: Bullish is not among the largest members shown in this industry comparison for Software - Infrastructure.

The score ranks a company within its industry: each measure is scored against the other members. Without that group there is no score, so none is shown.

No sector comparison is shown here, not among the largest members shown in this industry comparison.

Bullish is the 53rd largest of 117 Software - Infrastructure companies on Sector Alpha by market value (scores of 6 November 2026). Just above it: Appian Corporation, AvePoint, Inc. and Shift4 Payments, Inc. Just below it: Wix.com, Cellebrite DI and Teradata Corporation.

Software - Infrastructure companies close in size

50. Appian Corporation $3.7 billion
51. AvePoint, Inc. $3.5 billion
52. Shift4 Payments, Inc. $3.3 billion
53. Bullish $3.2 billion
54. Wix.com Ltd. $3.2 billion
55. Cellebrite DI Ltd. $3.1 billion
56. Teradata Corporation $3 billion

All 117 Software - Infrastructure companies, largest first

Companies close in size in other industries

1652. Viridian Therapeutics, Inc. $3.2 billion · Biotechnology
1653. FS KKR Capital Corp. $3.2 billion · Asset Management
1654. Bullish $3.2 billion
1655. Arcutis Biotherapeutics, Inc. $3.2 billion · Biotechnology
1656. Assured Guaranty Ltd. $3.2 billion · Insurance - Specialty

Sector Alpha, written by code from the published numbers. Data as of 6 November 2026.

Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.

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