BullishBLSH -1.10%15 EV-to-FCF is 26.03 as of Jul. 01, 2026. GuruFocus rates BLSH with a GF Score™ of 15/100. The stock has 3 warning signs investors should review. Among 1,588 Software companies, Bullish ranks worse than 71.73% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Bullish's Enterprise Value is $2,908 Mil.
Bullish's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was $112 Mil. Therefore, Bullish's EV-to-FCF for today is 26.03.
The historical rank and industry rank for Bullish's EV-to-FCF or its related term are showing as below:
BLSH'
s EV-to-FCF Range Over the Past 10 Years
Min: -3559.56 Med: -141.78 Max: 53.3
Current: 26.03
During the past 6 years, the highest EV-to-FCF of Bullish was 53.30. The lowest was -3559.56. And the median was -141.78.
BLSH's EV-to-FCF is ranked worse than 71.73% of 1588
companies
in the Software industry
Industry Median: 14.105
vs BLSH: 26.03
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
As of today (2026-07-01), Bullish's stock price is $23.43.
Bullish's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 was $-6.745. Therefore, Bullish's PE Ratio (TTM) for today is At Loss.
Bullish (NYSE:BLSH) EV-to-FCF Explanation
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Bullish's share price for today is $23.43.
Bullish's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-6.745.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Bullish EV-to-FCF Related Terms
Bullish EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Bullish's EV-to-FCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Software - Infrastructure subindustry, Bullish's EV-to-FCF, along with its competitors' market caps and EV-to-FCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Bullish EV-to-FCF vs Software Industry
For the Software industry and Technology sector, Bullish's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Bullish's EV-to-FCF falls into.
Bullish's current Enterprise Value is $2,908 Mil.
Bullish's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $112 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Bullish (BLSH) has a EV-to-FCF of 26.03 as of Jul. 01, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Bullish and its competitors. According to the industry distribution chart, Bullish ranks #1139 out of 1588 companies in the Software industry, placing it in the top 71.7%.
Is Bullish's EV-to-FCF too high?
Bullish's current EV-to-FCF is 26.03. The Software industry median EV-to-FCF is 14.11. Bullish's value of 26.03 is 84.5% above this industry median. Based on the distribution chart, Bullish ranks #1139 out of 1588 companies in the Software industry, which is below the industry midpoint. Overall, Bullish has a GF Score™ of 15/100, reflecting its overall financial health beyond just this single metric.
How does Bullish's EV-to-FCF compare to CLBT and BOX?
According to the Software industry distribution chart, Bullish ranks #1139 out of 1588 companies for EV-to-FCF. This places Bullish in the lower half of its industry. The industry median EV-to-FCF is 14.11. Bullish's value of 26.03 is 84.5% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for a Software company?
The median EV-to-FCF among Software companies is 14.11, based on 1,588 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Bullish's current EV-to-FCF of 26.03 is 84.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Bullish and its competitors. For the Software industry, the median EV-to-FCF is 14.11 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bullish's current EV-to-FCF is 26.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bullish stock overvalued right now?
Bullish (BLSH) has a current EV-to-FCF of 26.03. The current EV-to-FCF is 26.03 and 84.5% above the Software industry median of 14.11. Bullish's overall GF Score™ is 15/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Bullish (BLSH), the current EV-to-FCF is 26.03 as of Jul. 01, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Bullish is an institutionally focused global digital asset platform focused on providing market infrastructure and information services. Its objective is to provide mission critical products and services that are designed to help institutions grow their businesses, empower individual investors, and drive the adoption of stablecoins, digital assets, and blockchain technology. It expanded its product offering to provide trusted insights, authoritative news, data, indices and transparent analysis to the digital assets industry while facilitating partnerships, investment opportunities, and community engagement through its flagship Consensus conference.
15GF Score
Get the complete analysis for BLSH
EV-to-FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
BLSH has been successfully added to your 
