SharpLink (SBET) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

SharpLink

NasdaqCM•Financial Services•Capital Markets

$8.58-0.57(-0.06%)Market open

Market Cap

$1.96B

P/S

39.1x

P/B

1.4x

Sharplink, Inc. engages in the digital asset treasury business in the United States and internationally. The company operates as an institutional-grade Ethereum treasury platform. It operates in two segments, Ether (ETH) Treasury Management and Affiliate Marketing. The ETH Treasury Management segment focuses on the accumulation and active management of ETH as a long-term treasury asset. Its activities include native and liquid staking arrangements executed within a governance, custody, and risk management framework. The Affiliate Marketing segment provides performance-based customer acquisition services to sportsbook and online casino gaming operators. It also drives user traffic and player acquisition for licensed gaming operators through PAS.net, an international affiliate network, as well as a portfolio of U.S. state-specific digital properties. The company was formerly known as SharpLink Gaming, Inc. and changed its name to Sharplink, Inc. in February 2026. The company was founded in 2019 and is headquartered in Miami, Florida.

How this company scores

AverageMetricSide Score: 42/100

Strongest: Growth (16/25); weakest: Cash & Earnings Quality (2/25).

Profitability9/25

Growth16/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality2/25

Strengths

Growing revenueInterest easily coveredConsistent growthNet cash position

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 3.0x5y range 3.0x – 3.0x

P/S · 39.1x5y range 0.5x – 196.3x

Currently near its 8-quarter median.

P/B · 1.4x5y range 0.4x – 18.4x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $1.96B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $50.20M
Q. Revenue: $11.53M
TTM EBITDA: $-1.71B
TTM Op. Income: $-1.71B
Q. Op. Income: $-393.45M
TTM Net Income: $-1.71B
Q. Net Income: $-394.27M
EPS: $-1.88
Shares Out.: $209.78M

$50.20M in TTM revenue grew 1496.7% YoY, reaching $11.53M last quarter. TTM EBITDA of $-1.71B and TTM operating income of $-1.71B show growth is flowing through to the bottom line. However, net income is negative at $1.71B — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 4 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: -3413.0%
Op. Margin: -3413.0%
Net Margin: -3420.1%

Op. margin of -3413.0% is up 11413.0% YoY — cost efficiency is improving. Net margin at -3420.1% Over the past year, operating margin is up 77% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 39.1x
P/B Ratio: 1.4x

P/S of 39.1x and P/B of 1.4x. P/S is high, meaning growth expectations are priced in.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $1.42B
Cash: $56.20M
Long-Term Debt: N/A
Book Value: $1.41B
D/E Ratio: N/A
Debt/EBITDA: N/A

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-7.15M
TTM Free Cash Flow: $-33.35M
FCF Margin: -66.4%
FCF / Net Income: 0.0

TTM FCF of $-33.35M on $-7.15M in operating cash flow. The FCF / Net Income ratio of 0.0x means cash covers only part of net income — earnings quality needs attention. Across the last 8 quarters, free cash flow has fallen for 5 consecutive quarters — a weakening trend.