Bullish (BLSH) — Working Capital to Net Assets Ratio
Bullish (BLSH) has a Working Capital to Net Assets ratio of 113.1% as of March 2026. Working capital of $3.06 Billion (current assets of $3.18 Billion minus current liabilities of $120.28 Million) is measured against net assets of $2.70 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See BLSH financial flexibility score to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Bullish Working Capital to Net Assets (2020–2025)
This chart shows how Bullish's Working Capital to Net Assets ratio has evolved across 6 annual periods from 2020 to 2025. As of March 2026, the ratio stands at 113.1%, reflecting working capital of $3.06 Billion against net assets of $2.70 Billion USD. See BLSH defensive interval ratio to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for Bullish (2020–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Bullish from 2020 to 2025, covering 6 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see Bullish (BLSH) market capitalisation.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 111.4% | $3.67 Billion | $3.30 Billion | $3.80 Billion | $129.91 Million | ▼ -6.4 pp |
| 2024 | 117.8% | $2.83 Billion | $2.40 Billion | $2.91 Billion | $85.05 Million | ▼ -12.3 pp |
| 2023 | 130.1% | $1.67 Billion | $1.28 Billion | $1.71 Billion | $37.74 Million | ▲ +31.0 pp |
| 2022 | 99.1% | $1.87 Billion | $1.88 Billion | $3.38 Billion | $1.51 Billion | ▼ -19.9 pp |
| 2021 | 119.0% | $7.27 Billion | $6.11 Billion | $7.44 Billion | $172.42 Million | ▲ +112.4 pp |
| 2020 | 6.6% | $263.88 Million | $4.01 Billion | $292.00 Million | $28.12 Million | — |