Knowstox

Fundamentals snapshot

Cipher Digital Inc.

CIFR · NMS · Technology · Information Technology Services

Current price

$6.86

52-week range

$6.62 - $30.14

Market cap

$2.85B

One-glance verdict

Not enough data

Fair value unavailable

Not enough cash-flow history to value this one with our method.

Balance sheet

Distressed

-9.23x Concerning

Net debt $4.75B. Interest coverage shows how many times profit covers the interest bill.

What this company does

Cipher Digital Inc.

Cipher Digital Inc. builds and runs huge buildings called data centers where they handle complex computer tasks for things like mining digital money (like Bitcoin) and powering super-fast computers for other companies. Their main income comes from renting out space and computer power in these data centers to big clients. This matters because it shows they have a steady stream of money coming in from their customers for these specialized services.

Price history

How the share price has moved

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Earnings history

Last 8 quarters — what happened

Click any quarter to read the call summary and what the numbers say.

Free cash flow by quarter (oldest to newest)
FY2024 Q4 $-76.10M FY2025 Q1 $-71.81M FY2025 Q2 $-87.51M FY2025 Q3 $-256.22M FY2025 Q4 $-280.32M FY2026 Q1 $-462.46M FY2026 Q2 $-653.81M FY2026 Q3 $-1.68B
Revenue $26.70M
Net income $31.61M
Diluted EPS -0.22
Operating cash flow $-131.19M
Free cash flow $-1.68B
Revenue $24.84M
Net income $-267.53M
Diluted EPS -0.65
Operating cash flow $-243.54M
Free cash flow $-653.81M
Revenue $34.84M
Net income $-114.32M
Diluted EPS -0.28
Operating cash flow $91.53M
Free cash flow $-462.46M
Revenue $59.71M
Net income $-734.21M
Diluted EPS -1.91
Operating cash flow $-54.43M
Free cash flow $-280.32M
Revenue $71.71M
Net income $-3.28M
Diluted EPS -0.01
Operating cash flow $-50.05M
Free cash flow $-256.22M
Revenue $43.56M
Net income $-45.78M
Diluted EPS -0.12
Operating cash flow $-56.22M
Free cash flow $-87.51M
Revenue $48.96M
Net income $-38.98M
Diluted EPS -0.11
Operating cash flow $-47.24M
Free cash flow $-71.81M
Revenue $42.22M
Net income $17.51M
Diluted EPS 0.04
Operating cash flow $-28.98M
Free cash flow $-76.10M

Is it cheap or expensive?

Fair value — vs current price $6.86

We couldn't calculate a fair value right now.

lower confidence

We estimate the cash this business should generate over the next 10 years and beyond, then convert it to today's money for a fair value per share, in its trading currency. Cautious, middle and optimistic growth cases give a range. Not for banks/insurers.

Is it drowning in debt?

Distressed

Net debt $4.8B. Interest coverage -9.2x.

Net debt $4.75B
Interest coverage -9.23x

Cipher Digital Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 5 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.

Distressed
Worse cushion Baseline Better cushion
CIFR BASELINE Cipher Digital Inc.

Total debt $5.59B Interest coverage -9.23x This is the baseline the peer rows are being compared against.

Total debt $2.47B Interest coverage -16.99x Neither company has much profit cushion over interest right now.

Total debt $877.80M Interest coverage -14.22x Neither company has much profit cushion over interest right now.

Total debt $1.79B Interest coverage -9.44x Neither company has much profit cushion over interest right now.

Total debt $7.67B Interest coverage -3.24x Neither company has much profit cushion over interest right now.

Total debt $7.84B Interest coverage -6.39x Neither company has much profit cushion over interest right now.

What you should know

The case for and against CIFR

0 Rewards 3 Risks

Rewards

Risks

  • Net debt grew 24393.6% over 3 years.
  • Return on equity was -167.5% last year — the company lost money on shareholders' equity.
  • Insider ownership is only 3.6% (peer median: 6.5%).

The numbers

All the key metrics, grouped by purpose

Tap any ? icon to learn what it means.

Valuation

How expensive the stock looks

P/E (TTM)
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Forward P/E
31.20x
P/B
5.06x
P/S
14.90x
EV/EBITDA
81.25x
PEG ratio
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Profitability

How much profit each dollar creates

Gross margin
-10.0%
Operating margin
-301.7%
Net margin
0.0%
ROE
-167.5%
ROA
-0.8%

Health

Liquidity and balance-sheet strength

Debt / equity
9.51x
Current ratio
3.00x
Quick ratio
0.62x
Total debt
$5.59B
Total cash
$831.83M

Growth

How the business has been compounding

Revenue TTM
$146.09M
Revenue 5Y CAGR
319.3%
EPS TTM
-2.87
EPS 5Y CAGR
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Cash flow

How much cash the business throws off

Operating CF TTM
$-337.63M
Free CF TTM
$-695.86M
FCF margin
-476.3%

Dividend

Shareholder payout

Yield
0.0%
Payout ratio
0.0%
Last ex-div date
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