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PURR
Hyperliquid Strategies Inc
NASDAQ· Financial Services· Capital Markets· CUSIP 44916Y106
$8.68-9.77%Price as of Oct 23, 00:39 UTC · updated once a day, after the close
At a glance
Hyperliquid Strategies Inc (PURR) is listed on NASDAQ and classified in Capital Markets, part of the Financial Services sector. It is headquartered in New York, United States and has 5 employees. The company is worth $2.42B and trades at 3.0x its earnings of the last twelve months; the median for its sector is 13.2x. Revenue was $9.46M in fiscal 2026. Net income was $305.54M. The share price is 41.2% below its 52-week high of $14.76. 7 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Daniel Sundheim (D1 Capital Partners), at $49.92M. In that quarter, 5 of them opened or added to the position and 1 reduced it. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Analysis
Articles on this site that cover Hyperliquid Strategies Inc.
Key metrics
- Market cap
- $2.42B
- P/E
- 3.0x
- Forward P/E
- 23.5x
- P/B
- 0.9x
- Dividend yield
- 0.00%
- Payout
- —
- EPS
- $2.90
- ROE
- 32.64%
- Profit margin
- 3229.83%
- Revenue growth
- —
- Beta
- —
- 52-week high
- $14.76
- 52-week low
- $3.01
History
Year by year, from the annual reports; dividends from the payments themselves.
Bars are year-end balances; lines are what happened during the year.
Investors holding this
Major managers that reported this stock in their latest 13F.
mNAV — the price of its bitcoin
P/E and P/B say nothing about a company like this: many have no operating profit, and what shows up on the earnings line is the revaluation of their own bitcoin. The question that remains is whether buying the stock is cheaper or dearer than buying the crypto directly.
0.77x
Enterprise value — market cap plus net debt plus preferred stock — is 23% below the crypto the company holds. A discount usually says the market distrusts the wrapper: dilution, costs, whether it will ever sell.
0.83x
Market cap ÷ crypto, ignoring debt and preferred stock. It is the number most trackers show — and it flatters leveraged companies, because creditors and preferred holders rank ahead of common shareholders on the same coins. The gap between the two is what common shareholders do not own.
$2.37B
The amount of HYPE on the Jun 30, 2026 balance sheet, at today’s coin price. That filing said $1.92B — the amount has not changed since, but what it is worth has.
$1.83B
Market cap plus net debt plus preferred stock, at the Oct 23, 2026 price: what it costs to buy the whole company today.
Both lines move every day. The company side is the day’s share price times the share count from the last filing; the crypto side is the amount of HYPE implied by that same filing, marked at the day’s coin price. The amount only changes when the company buys or sells — which is quarterly — but what it is worth changes daily, and that movement is what the ratio measures. The amount is re-derived at every filing, so the line passes exactly through each reported figure: a purchase the company made without announcing shows up as the step at the next filing, and does not accumulate as error.
The crypto side is marked to market: the amount from the last filing, at today’s coin price. It assumes the company has not bought or sold since — when it has, the next filing corrects it, and that correction is the step you see in the chart. Filed figures, not independently verified holdings.
Fair price, seven ways
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Earnings
$24.69
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings
—
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Earnings
$38.15
Median P/E of 13.2 among peers in the sector.
Earnings
—
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Cash flow
—
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Operating
—
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Dividends
Others in the same sector
Companies of similar size in Financial Services, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| LIFEEthos Technologies Inc. | $37.52 | — | 5.0x | 0.00% | -26.11% | $2.44B |
| SYBTStock Yards Bancorp, Inc. | $78.56 | 15.3x | 2.0x | 1.68% | 13.28% | $2.44B |
| APAMArtisan Partners Asset Management Inc. | $34.40 | 8.0x | 5.8x | 10.06% | 64.55% | $2.44B |
| BBTBeacon Financial Corp |
About the company
- 5
- New York, United States