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Digital-asset treasury company that accumulates and holds HYPE tokens from the Hyperliquid crypto exchange.
Digital-asset treasury company that accumulates and holds HYPE tokens from the Hyperliquid crypto exchange.
Earns no operating revenue: its worth follows the HYPE tokens it holds, which it buys with money raised from investors. The shares offer a way to hold the token through a listed stock, and their price can sit above or below the value of the tokens behind them.
In one line: A HYPE-token MicroStrategy.
Moat: none. Value tracks the price of its HYPE token holdings; no independent operating business or moat.
Founded: 2025 · Employees: 5
Size Hyperliquid Strategies (PURR) is a United States Financials company (Financial Conglomerates) with a market value of $2.45B, the 1665th largest of 3,117 United States companies the cockpit tracks. Shares closed at $8.81 on 6 Nov 2026.
Performance Over six months the shares gained 103.6%, against +2.6% for the median peer and -1.1% for the United States market (cap-weighted) — highest of 21 in its peer set.
Growth The operating margin is -60.1% (peer median 15.0%).
Valuation It trades at 0.94× book value against a peer median of 0.94× (10th cheapest of 21).
Price implies The share price implies a return on equity of about 18.9%; Hyperliquid Strategies delivers 33.9%, so the price asks less than the business earns today.
Next results Next results expected around 17 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | |
|---|---|---|---|
| Revenue | $9.46M | $9.46M | $0 |
| Revenue growth | — | — | — |
| Gross profit | n/a | n/a | $0 |
| EBITDA | -$5.69M | -$4.49M | -$597,000 |
| Net income | $318M | $306M | -$597,000 |
| Free cash flow | -$19.1M | -$19.1M | $0 |
| Capital expenditure | $785M | $785M | $0 |
| Total debt | $0 | $0 | $0 |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Hyperliquid Strategies PURR | $2.45B | +104% | n/a | 34% | 0.94× | 18.9% |
| Strategy MSTR | $54.5B | -31% | +4% | -22% | 0.98× | 19.5% |
| BitMine Immersion Technologies BMNR | $11.3B | -15% | +1,022% | -151% | 0.94× | 15.1% |
| Lion 4912.T | $3.19B | +21% | +6% | 9% | 1.54× | 5.7% |
| Forward Industries FWDI | $435M | +19% | +172% | -461% | 0.89× | 8.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | PURR | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +32.2% | +4.5% | highest of 21 |
| 6-month return | +103.6% | +2.6% | highest of 21 |
| Return on equity | 33.9% | 5.3% | 2nd highest of 20 |
| Price / book | 0.94× | 0.94× | 10th cheapest of 21 |
| Trailing P/E | 13.6× | 17.9× | 6th cheapest of 15 |
| ROE the price implies | 18.9% | 8.8% | 4th most demanding of 21 |
| ROE delivered | 33.9% | 4.6% | 2nd highest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid Strategies PURR | United States | $2.45B | +104% | n/a | 34% | 0.94× | 18.9% | 33.9% |
| Zhejiang Provincial New Energy Investment 600032.SS | China | $2.59B | -27% | -6% | 2% | 1.31× | 8.5% | 2.3% |
| Bure Equity BURE.ST | Sweden | $2.30B | +12% | -3% | 22% | 0.88× | 9.2% | 21.8% |
| Strive ASST | United States | $2.73B | +35% | +650% | -138% | 2.72× | 48.9% | -137.9% |
| Financiere Moncey FMONC.PA | France | $2.19B | -21% | n/a | 0% | 0.95× | 8.1% | 0.2% |
| Kinnevik KINV-A.ST | Sweden | $2.04B | +27% | +675% | -23% | 0.72× | 7.6% | -22.9% |
| Kyivstar KYIV | United States | $2.96B | -4% | +26% | 20% | 2.13× | 18.0% | 20.2% |
| Georgia Capital CGEO.L | United Kingdom | $2.03B | +20% | n/a | 32% | 0.94× | 10.4% | 31.7% |
| Roko ROKO-B.ST | Sweden | $2.97B | +14% | +20% | 15% | 4.58× | 12.3% | 14.5% |
| Storskogen STOR-B.ST | Sweden | $1.97B | +25% | +2% | 5% | 0.88× | 9.0% | 5.3% |
| Golub Capital BDC GBDC | United States | $3.31B | -3% | -9% | 4% | 0.89× | 6.7% | 4.5% |
| BB Biotech BION.SW | Switzerland | $3.45B | +13% | +125% | 39% | 0.87× | 4.6% | 38.7% |
| IndiGrid Infrastructure Trust INDIGRID.NS | India | $1.72B | -1% | +52% | 7% | 2.69× | 20.1% | n/a |
| Tamburi Investment Partners TIP.MI | Italy | $1.72B | +5% | +353% | 0% | 0.96× | 10.0% | 0.0% |
| Yangzijiang Maritime Development 8YZ.SI | Singapore | $1.59B | -14% | +18% | 7% | 0.94× | 3.5% | 6.9% |
| Peugeot Invest PEUG.PA | France | $1.54B | -16% | -101% | 6% | 0.38× | 6.5% | 6.3% |
| Legend 3396.HK | Hong Kong | $4.03B | +34% | +27% | 5% | 0.49× | 5.9% | 4.6% |
| LunR Royalties LUNR.TO | Canada | $1.46B | -28% | n/a | n/a | 2.15× | 27.1% | n/a |
| Wendel MF.PA | France | $4.14B | 0% | -13% | -4% | 1.11× | 12.4% | -3.9% |
| Hyosung 004800.KS | South Korea | $1.42B | -49% | +10% | 14% | 0.79× | 8.3% | n/a |
| Ratos RATO-A.ST | Sweden | $1.38B | +24% | -23% | -2% | 0.89× | 7.1% | -1.6% |