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Cipher Mining (CIFRW) Financials

Cipher Mining logo
$0.55 -0.04 (-6.68%)
Closing price 05/23/2025 03:57 PM Eastern
Extended Trading
$0.54 -0.02 (-2.73%)
As of 05/23/2025 04:01 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
Annual Income Statements for Cipher Mining

Annual Income Statements for Cipher Mining

This table shows Cipher Mining's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2020
Net Income / (Loss) Attributable to Common Shareholders
-45 -26 -39 0.01
Consolidated Net Income / (Loss)
-45 -26 -39 -0.11
Net Income / (Loss) Continuing Operations
-45 -26 -39 0.01
Total Pre-Tax Income
-44 -22 -37 0.01
Total Operating Income
-44 -20 -37 0.00
Total Gross Profit
98 89 2.75 0.00
Total Revenue
155 129 3.04 0.00
Operating Revenue
151 127 3.04 -
Other Revenue
3.33 2.36 0.00 -
Total Cost of Revenue
57 40 0.29 0.00
Operating Cost of Revenue
57 40 0.29 -
Total Operating Expenses
196 144 77 0.00
Selling, General & Admin Expense
93 85 71 0.00
Depreciation Expense
102 59 4.38 -
Total Other Income / (Expense), net
54 33 37 0.01
Interest Expense
1.71 2.00 0.14 -
Interest & Investment Income
3.00 -2.37 -37 0.03
Other Income / (Expense), net
53 38 74 -0.02
Income Tax Expense
0.32 3.57 1.84 -
Basic Earnings per Share
($0.14) ($0.10) ($0.16) $0.00
Weighted Average Basic Shares Outstanding
323.10M 252.44M 248.23M 4.48M
Diluted Earnings per Share
($0.14) ($0.10) ($0.16) $0.00
Weighted Average Diluted Shares Outstanding
323.10M 252.44M 248.23M 4.48M
Weighted Average Basic & Diluted Shares Outstanding
361.53M 296.49M 248.63M 21.21M

Quarterly Income Statements for Cipher Mining

This table shows Cipher Mining's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders
-39 18 -87 -15 40 11 -19 -13 -4.55 -52 59
Consolidated Net Income / (Loss)
-39 18 -87 -15 40 11 -19 -13 -4.55 -52 59
Net Income / (Loss) Continuing Operations
-39 18 -87 -15 40 11 -19 -13 -4.55 -51 59
Total Pre-Tax Income
-39 16 -91 -15 45 15 -20 -13 -4.48 -50 59
Total Operating Income
-38 17 -91 -16 47 15 -19 -12 -4.12 -50 59
Total Gross Profit
20 57 -4.26 24 21 76 3.04 8.34 1.92 2.75 0.00
Total Revenue
48 44 24 38 48 46 30 31 22 3.04 0.00
Operating Revenue
49 41 24 38 48 43 30 31 22 - -
Other Revenue
-0.48 - 0.00 - - - 0.10 - - - -
Total Cost of Revenue
28 -12 28 14 27 -30 27 23 20 0.29 0.00
Operating Cost of Revenue
28 -12 28 14 27 -30 27 23 20 - 0.00
Total Operating Expenses
52 80 88 45 -17 91 20 22 11 110 -68
Selling, General & Admin Expense
8.95 70 8.92 8.37 6.08 64 6.83 8.67 5.48 19 18
Depreciation Expense
43 36 29 20 17 17 16 14 12 4.35 0.01
Total Other Income / (Expense), net
-6.69 39 1.69 6.50 6.78 30 -2.61 1.30 4.22 57 -8.29
Interest Expense
0.78 0.59 0.35 0.37 0.40 0.49 0.63 0.49 0.40 0.14 0.00
Interest & Investment Income
-5.10 -1.04 2.04 0.48 1.52 1.70 -1.99 -1.41 -0.67 -16 -8.29
Other Income / (Expense), net
-0.81 41 -0.00 6.40 5.65 29 0.00 3.19 5.29 73 0.00
Income Tax Expense
0.14 -1.97 -3.80 0.53 5.56 3.98 -1.10 0.62 0.07 - 0.00
Basic Earnings per Share
($0.11) $0.04 ($0.26) ($0.05) $0.13 $0.04 ($0.07) ($0.05) ($0.02) - $0.24
Weighted Average Basic Shares Outstanding
360.51M 323.10M 332.68M 314.35M 296.64M 252.44M 251.79M 249.13M 248.65M 248.23M 247.51M
Diluted Earnings per Share
($0.11) $0.04 ($0.26) ($0.05) $0.13 $0.04 ($0.07) ($0.05) ($0.02) - $0.24
Weighted Average Diluted Shares Outstanding
360.51M 323.10M 332.68M 314.35M 304.40M 252.44M 251.79M 249.13M 248.65M 248.23M 248.34M
Weighted Average Basic & Diluted Shares Outstanding
371.21M 361.53M 347.81M 328.94M 310.03M 296.49M 254.66M 250.96M 248.94M 248.63M 247.52M

Annual Cash Flow Statements for Cipher Mining

This table details how cash moves in and out of Cipher Mining's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022
Period end date 12/31/2024 12/31/2023 12/31/2022
Net Change in Cash & Equivalents
-66 74 -198
Net Cash From Operating Activities
-88 -94 -21
Net Cash From Continuing Operating Activities
-88 -94 -21
Net Income / (Loss) Continuing Operations
-45 -26 -39
Consolidated Net Income / (Loss)
-45 -26 -39
Depreciation Expense
102 59 4.38
Amortization Expense
1.90 0.94 0.77
Non-Cash Adjustments To Reconcile Net Income
-164 -121 10
Changes in Operating Assets and Liabilities, net
17 -7.37 2.87
Net Cash From Investing Activities
-192 53 -174
Net Cash From Continuing Investing Activities
-192 53 -174
Purchase of Property, Plant & Equipment
-141 -21 -40
Acquisitions
-37 -3.55 0.00
Sale and/or Maturity of Investments
0.00 3.81 54
Other Investing Activities, net
-14 74 -188
Net Cash From Financing Activities
214 116 -3.09
Net Cash From Continuing Financing Activities
214 116 -3.09
Repurchase of Common Equity
-31 -7.31 -3.09
Issuance of Debt
25 0.00 -
Issuance of Common Equity
225 136 0.00
Other Financing Activities, net
-5.54 -13 0.00

Quarterly Cash Flow Statements for Cipher Mining

This table details how cash moves in and out of Cipher Mining's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents
18 -20 -83 34 2.57 83 1.60 -2.18 -8.01 -16 -8.93
Net Cash From Operating Activities
-47 -29 -6.55 -25 -27 -48 -19 -18 -10 -12 1.04
Net Cash From Continuing Operating Activities
-47 -29 -6.55 -25 -27 -48 -19 -18 -10 -12 1.04
Net Income / (Loss) Continuing Operations
-39 18 -87 -15 40 11 -19 -13 -4.55 -52 59
Consolidated Net Income / (Loss)
-39 18 -87 -15 40 11 -19 -13 -4.55 -52 59
Depreciation Expense
43 36 28 20 17 17 16 14 12 4.35 0.01
Amortization Expense
0.56 0.54 0.49 0.47 0.40 0.26 0.24 0.23 0.22 0.22 0.21
Non-Cash Adjustments To Reconcile Net Income
-31 -81 36 -33 -87 -56 -20 -24 -21 38 -60
Changes in Operating Assets and Liabilities, net
-21 -1.99 15 1.96 2.50 -20 3.57 5.00 3.85 -2.52 1.20
Net Cash From Investing Activities
-17 3.02 -133 -31 -31 15 20 15 2.62 -4.15 -9.95
Net Cash From Continuing Investing Activities
-17 3.02 -133 -31 -31 15 20 15 2.62 -4.15 -9.95
Purchase of Property, Plant & Equipment
-25 -47 -77 -8.36 -8.10 12 -4.44 -11 -18 -11 -16
Acquisitions
-7.28 9.12 -26 -2.12 -18 - -0.45 -0.00 -3.09 - -
Other Investing Activities, net
15 41 -30 -21 -4.54 3.09 25 26 20 -4.01 -27
Net Cash From Financing Activities
82 6.20 57 91 60 116 0.37 0.05 -0.48 -0.01 -0.03
Net Cash From Continuing Financing Activities
82 6.20 57 91 60 116 0.37 0.05 -0.48 -0.01 -0.03
Repurchase of Common Equity
-1.49 -17 -4.14 -5.31 -4.80 -3.78 -2.33 -0.71 -0.48 -0.01 -0.03
Issuance of Common Equity
85 - 62 97 66 124 8.82 2.82 0.00 - -
Other Financing Activities, net
-0.91 -1.92 -1.21 -1.21 -1.21 -4.69 -6.13 -2.06 0.00 - -

Annual Balance Sheets for Cipher Mining

This table presents Cipher Mining's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020
Total Assets
855 566 418 354 172
Total Current Assets
168 155 48 224 1.57
Cash & Equivalents
5.59 86 12 210 1.28
Accounts Receivable
2.69 0.87 1.20 0.00 -
Prepaid Expenses
3.39 3.67 7.25 14 0.30
Other Current Assets
157 65 27 0.00 -
Plant, Property, & Equipment, net
0.00 244 191 5.12 0.00
Total Noncurrent Assets
687 167 180 125 170
Long-Term Investments
54 35 37 0.00 -
Intangible Assets
8.88 8.11 0.60 - -
Other Noncurrent Operating Assets
624 123 141 125 170
Total Liabilities & Shareholders' Equity
855 566 418 354 172
Total Liabilities
173 75 76 0.64 0.25
Total Current Liabilities
132 34 40 0.50 0.13
Short-Term Debt
32 0.00 - - -
Accounts Payable
23 6.53 17 0.24 0.13
Accrued Expenses
70 22 19 0.26 -
Other Current Liabilities
6.93 4.82 3.60 0.00 -
Total Noncurrent Liabilities
42 41 35 0.14 0.12
Asset Retirement Reserve & Litigation Obligation
20 18 17 0.00 -
Noncurrent Deferred & Payable Income Tax Liabilities
4.27 5.21 1.84 0.00 -
Other Noncurrent Operating Liabilities
17 17 17 0.14 0.12
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
682 491 343 354 1.35
Total Preferred & Common Equity
682 491 343 354 1.35
Preferred Stock
0.00 0.00 0.00 0.00 -
Total Common Equity
682 491 343 354 1.35
Common Stock
863 628 454 426 1.46
Retained Earnings
-181 -137 -111 -72 -0.11
Other Equity Adjustments
-0.01 - - - -

Quarterly Balance Sheets for Cipher Mining

This table presents Cipher Mining's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q3 2024 Q2 2024 Q1 2024 Q3 2023 Q2 2023 Q1 2023 Q3 2022
Period end date 3/31/2025 9/30/2024 6/30/2024 3/31/2024 9/30/2023 6/30/2023 3/31/2023 9/30/2022
Total Assets
914 775 776 677 416 417 413 407
Total Current Assets
155 152 309 250 54 42 36 70
Cash & Equivalents
23 25 123 89 3.34 1.74 3.92 28
Accounts Receivable
1.06 0.29 0.46 1.11 0.36 1.99 1.57 0.73
Prepaid Expenses
2.97 3.49 3.60 2.91 3.96 2.26 4.28 8.28
Other Current Assets
127 123 183 158 47 36 27 33
Plant, Property, & Equipment, net
478 311 239 239 258 268 263 41
Total Noncurrent Assets
281 313 227 188 104 107 113 297
Long-Term Investments
48 55 50 53 34 33 35 32
Intangible Assets
9.04 26 8.50 8.16 - - - -
Other Noncurrent Operating Assets
224 232 169 128 70 74 79 265
Total Liabilities & Shareholders' Equity
914 775 776 677 416 417 413 407
Total Liabilities
179 103 85 76 74 74 68 24
Total Current Liabilities
139 59 36 31 39 39 33 20
Short-Term Debt
35 - - - - - - -
Accounts Payable
30 13 14 7.52 6.16 3.61 12 7.88
Accrued Expenses
66 41 18 19 25 23 17 11
Other Current Liabilities
7.10 5.17 4.86 4.80 7.92 12 3.74 1.00
Total Noncurrent Liabilities
40 44 48 45 35 35 35 4.78
Asset Retirement Reserve & Litigation Obligation
21 20 19 19 18 18 17 -
Noncurrent Deferred & Payable Income Tax Liabilities
3.63 6.56 11 10 1.29 2.51 1.89 -
Other Noncurrent Operating Liabilities
16 18 18 16 16 15 16 4.78
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
735 672 691 601 343 343 345 383
Total Preferred & Common Equity
735 672 691 601 343 343 345 383
Preferred Stock
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity
735 672 691 601 343 343 345 383
Common Stock
955 871 803 698 491 474 462 443
Retained Earnings
-220 -199 -112 -97 -148 -131 -118 -60
Other Equity Adjustments
-0.00 - - - - - - -

Annual Metrics And Ratios for Cipher Mining

This table displays calculated financial ratios and metrics derived from Cipher Mining's official financial filings.

Metric 2024 2023 2022 2021
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2020
Growth Metrics
- - - -
Revenue Growth
19.66% 4,154.10% 0.00% 0.00%
EBITDA Growth
45.51% 87.27% 214,464.24% 0.00%
EBIT Growth
-48.87% -51.64% 187,758.16% 0.00%
NOPAT Growth
-117.25% 46.25% 0.00% 0.00%
Net Income Growth
-73.16% 33.99% -36,387.56% 0.00%
EPS Growth
-40.00% 37.50% 0.00% 0.00%
Operating Cash Flow Growth
7.14% -350.59% 0.00% 0.00%
Free Cash Flow Firm Growth
-248.26% 48.54% 0.00% 0.00%
Invested Capital Growth
76.98% 26.06% 104.25% 0.00%
Revenue Q/Q Growth
-0.79% 49.27% 0.00% 0.00%
EBITDA Q/Q Growth
64.39% 74.25% 151.37% 0.00%
EBIT Q/Q Growth
157.95% 662.13% 120.06% 0.00%
NOPAT Q/Q Growth
4.12% 76.36% -262.44% 0.00%
Net Income Q/Q Growth
13.41% 70.71% -337.38% 0.00%
EPS Q/Q Growth
0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth
17.79% -61.51% 0.00% 0.00%
Free Cash Flow Firm Q/Q Growth
0.77% -115.63% 0.00% 0.00%
Invested Capital Q/Q Growth
10.67% 21.01% -9.22% 0.00%
Profitability Metrics
- - - -
Gross Margin
63.16% 68.75% 90.45% 0.00%
EBITDA Margin
72.86% 59.92% 1,361.15% 0.00%
Operating Margin
-28.27% -15.57% -1,232.17% 0.00%
EBIT Margin
5.79% 13.54% 1,191.57% 0.00%
Profit (Net Income) Margin
-28.87% -19.95% -1,285.91% 0.00%
Tax Burden Percent
100.72% 116.06% 104.94% -1,328.26%
Interest Burden Percent
-495.33% -126.92% -102.83% -41.79%
Effective Tax Rate
0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)
-5.97% -4.24% -11.98% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)
12.94% 9.45% -2.06% 0.00%
Return on Net Nonoperating Assets (RNNOA)
-1.64% -1.94% 0.77% 0.00%
Return on Equity (ROE)
-7.61% -6.18% -11.22% -0.04%
Cash Return on Invested Capital (CROIC)
-61.56% -27.30% -80.51% 0.00%
Operating Return on Assets (OROA)
1.26% 3.55% 9.37% 0.00%
Return on Assets (ROA)
-6.28% -5.24% -10.11% 0.00%
Return on Common Equity (ROCE)
-7.61% -6.18% -11.22% -0.03%
Return on Equity Simple (ROE_SIMPLE)
-6.55% -5.25% -11.39% -0.03%
Net Operating Profit after Tax (NOPAT)
-31 -14 -26 0.00
NOPAT Margin
-19.79% -10.90% -862.52% 0.00%
Net Nonoperating Expense Percent (NNEP)
-18.91% -13.70% -9.92% -0.05%
Return On Investment Capital (ROIC_SIMPLE)
-4.28% -2.87% - -
Cost of Revenue to Revenue
36.84% 31.25% 9.55% 0.00%
SG&A Expenses to Revenue
60.45% 65.94% 2,332.43% 0.00%
R&D to Revenue
0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
126.71% 111.68% 2,524.70% 0.00%
Earnings before Interest and Taxes (EBIT)
8.95 17 36 -0.02
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
113 77 41 -0.02
Valuation Ratios
- - - -
Price to Book Value (P/BV)
2.37 2.14 0.40 0.60
Price to Tangible Book Value (P/TBV)
2.40 2.18 0.40 0.60
Price to Revenue (P/Rev)
10.44 8.14 45.64 0.00
Price to Earnings (P/E)
0.00 0.00 0.00 26,520.99
Dividend Yield
0.00% 0.00% 0.00% 0.00%
Earnings Yield
0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)
2.42 2.51 0.30 0.03
Enterprise Value to Revenue (EV/Rev)
10.26 7.20 29.37 0.00
Enterprise Value to EBITDA (EV/EBITDA)
14.09 12.02 2.16 0.00
Enterprise Value to EBIT (EV/EBIT)
177.34 53.17 2.47 0.00
Enterprise Value to NOPAT (EV/NOPAT)
0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)
0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 0.00 0.00
Leverage & Solvency
- - - -
Debt to Equity
0.05 0.00 0.00 0.00
Long-Term Debt to Equity
0.00 0.00 0.00 0.00
Financial Leverage
-0.13 -0.20 -0.37 -0.59
Leverage Ratio
1.21 1.18 1.11 1.00
Compound Leverage Factor
-6.00 -1.50 -1.14 -0.42
Debt to Total Capital
4.53% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital
4.53% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
95.47% 100.00% 100.00% 100.00%
Debt to EBITDA
0.29 0.00 0.00 0.00
Net Debt to EBITDA
-0.24 0.00 0.00 0.00
Long-Term Debt to EBITDA
0.00 0.00 0.00 0.00
Debt to NOPAT
-1.06 0.00 0.00 0.00
Net Debt to NOPAT
0.89 0.00 0.00 0.00
Long-Term Debt to NOPAT
0.00 0.00 0.00 0.00
Altman Z-Score
5.55 8.69 1.04 202.08
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 32.39%
Liquidity Ratios
- - - -
Current Ratio
1.28 4.60 1.18 448.22
Quick Ratio
0.06 2.57 0.33 420.52
Cash Flow Metrics
- - - -
Free Cash Flow to Firm (FCFF)
-315 -91 -176 0.00
Operating Cash Flow to CapEx
-62.10% -446.34% -52.53% 0.00%
Free Cash Flow to Firm to Interest Expense
-184.66 -45.31 -1,284.61 0.00
Operating Cash Flow to Interest Expense
-51.24 -47.14 -152.66 0.00
Operating Cash Flow Less CapEx to Interest Expense
-133.74 -57.71 -443.28 0.00
Efficiency Ratios
- - - -
Asset Turnover
0.22 0.26 0.01 0.00
Accounts Receivable Turnover
87.03 125.01 0.00 0.00
Inventory Turnover
0.00 0.00 0.00 0.00
Fixed Asset Turnover
0.00 0.59 0.03 0.00
Accounts Payable Turnover
3.90 3.38 0.03 0.00
Days Sales Outstanding (DSO)
4.19 2.92 0.00 0.00
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
93.66 108.06 11,082.78 0.00
Cash Conversion Cycle (CCC)
-89.47 -105.14 -11,082.78 0.00
Capital & Investment Metrics
- - - -
Invested Capital
655 370 293 144
Invested Capital Turnover
0.30 0.39 0.01 0.00
Increase / (Decrease) in Invested Capital
285 76 150 0.00
Enterprise Value (EV)
1,587 930 89 3.87
Market Capitalization
1,614 1,052 139 214
Book Value per Share
$1.96 $1.93 $1.39 $16.46
Tangible Book Value per Share
$1.94 $1.90 $1.38 $16.46
Total Capital
714 491 343 354
Total Debt
32 0.00 0.00 0.00
Total Long-Term Debt
0.00 0.00 0.00 0.00
Net Debt
-27 -121 -49 -210
Capital Expenditures (CapEx)
141 21 40 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)
63 36 -4.52 13
Debt-free Net Working Capital (DFNWC)
69 122 7.41 223
Net Working Capital (NWC)
36 122 7.41 223
Net Nonoperating Expense (NNE)
14 12 13 0.11
Net Nonoperating Obligations (NNO)
-27 -121 -49 -210
Total Depreciation and Amortization (D&A)
104 60 5.15 0.00
Debt-free, Cash-free Net Working Capital to Revenue
40.86% 27.55% -148.77% 0.00%
Debt-free Net Working Capital to Revenue
44.47% 94.20% 243.96% 0.00%
Net Working Capital to Revenue
23.56% 94.20% 243.96% 0.00%
Earnings Adjustments
- - - -
Adjusted Basic Earnings per Share
($0.14) ($0.10) ($0.16) $0.00
Adjusted Weighted Average Basic Shares Outstanding
323.10M 252.44M 248.23M 4.48M
Adjusted Diluted Earnings per Share
($0.14) ($0.10) ($0.16) $0.00
Adjusted Weighted Average Diluted Shares Outstanding
323.10M 252.44M 248.23M 4.48M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
361.53M 296.49M 248.63M 21.21M
Normalized Net Operating Profit after Tax (NOPAT)
-31 -14 -25 0.00
Normalized NOPAT Margin
-19.79% -10.90% -828.71% 0.00%
Pre Tax Income Margin
-28.67% -17.19% -1,225.32% 0.00%
Debt Service Ratios
- - - -
EBIT to Interest Expense
5.24 8.75 264.15 0.00
NOPAT to Interest Expense
-17.91 -7.04 -191.20 0.00
EBIT Less CapEx to Interest Expense
-77.27 -1.81 -26.47 0.00
NOPAT Less CapEx to Interest Expense
-100.41 -17.61 -481.82 0.00
Payout Ratios
- - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio
-69.74% -28.34% -7.91% 0.00%

Quarterly Metrics And Ratios for Cipher Mining

This table displays calculated financial ratios and metrics derived from Cipher Mining's official financial filings.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics
- - - - - - - - - - -
Revenue Growth
0.71% -2.70% -20.71% 21.44% 119.85% 1,404.08% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Growth
-92.11% 53.99% -2,257.08% 87.93% 436.02% 116.61% -104.46% 119.76% 175.16% 611.31% 2,581.51%
EBIT Growth
-186.29% 30.11% -378.47% -9.80% 4,381.79% 86.90% -132.25% 69.58% 106.68% 496.45% 2,572.33%
NOPAT Growth
-164.93% 74.17% -378.35% -33.77% 1,523.38% 131.72% -122.58% 58.78% 76.52% -1,023.62% 3,806.46%
Net Income Growth
-197.68% 65.27% -365.89% -15.86% 976.35% 120.52% -131.41% 54.83% 73.98% -1,431.46% 2,549.07%
EPS Growth
-184.62% 0.00% -271.43% 0.00% 750.00% 0.00% -129.17% 58.33% 0.00% 0.00% 2,500.00%
Operating Cash Flow Growth
-77.35% 39.52% 64.68% -43.60% -162.63% -298.50% -1,879.92% -167.04% -205.39% 0.00% 104.01%
Free Cash Flow Firm Growth
-136.32% -305.85% -8,453.60% -127.20% -53.07% 64.56% 102.52% -37.45% 6.10% 0.00% -67.70%
Invested Capital Growth
51.99% 76.98% 93.53% 68.07% 50.12% 26.06% -5.43% 40.51% 29.94% 104.25% 230.90%
Revenue Q/Q Growth
9.07% 84.41% -36.43% -21.23% 5.38% 50.26% -2.64% 42.61% 620.94% 0.00% 0.00%
EBITDA Q/Q Growth
-94.77% 251.12% -678.73% -84.57% 66.20% 2,413.14% -146.14% -56.00% -53.88% -52.42% 304.69%
EBIT Q/Q Growth
-167.43% 163.11% -835.21% -118.64% 108.62% 332.08% -114.61% -860.77% -95.07% -59.96% 302.43%
NOPAT Q/Q Growth
-238.52% 130.09% -465.17% -127.57% 305.36% 182.63% -58.04% -193.35% 91.72% -158.82% 388.54%
Net Income Q/Q Growth
-322.59% 120.18% -467.35% -138.32% 311.98% 156.90% -41.09% -189.87% 91.18% -187.07% 302.92%
EPS Q/Q Growth
-375.00% 115.38% -420.00% -138.46% 225.00% 157.14% -40.00% -150.00% 0.00% 0.00% 300.00%
Operating Cash Flow Q/Q Growth
-63.01% -342.75% 74.18% 4.82% 78.97% -158.60% -4.96% -74.07% 15.65% -1,255.04% 115.75%
Free Cash Flow Firm Q/Q Growth
-0.02% 24.10% -58.18% -96.81% -69.39% -1,662.15% 104.30% -32.60% 60.23% -10.98% -134.86%
Invested Capital Q/Q Growth
6.69% 10.67% 14.16% 12.76% 24.23% 21.01% -0.85% 0.72% 4.32% -9.22% 47.31%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
41.82% 127.81% -17.65% 62.34% 44.57% 165.36% 10.00% 26.71% 8.75% 90.45% 0.00%
EBITDA Margin
10.19% 212.30% -259.06% 28.45% 145.28% 134.14% -8.71% 18.39% 59.59% 931.45% 0.00%
Operating Margin
-78.56% 38.43% -379.20% -42.65% 97.19% 33.28% -62.85% -38.72% -18.82% -1,638.92% 0.00%
EBIT Margin
-80.23% 129.77% -379.21% -25.77% 108.93% 97.05% -62.84% -28.51% 5.34% 781.03% 0.00%
Profit (Net Income) Margin
-80.39% 39.40% -359.95% -40.33% 82.89% 23.19% -61.26% -42.27% -20.79% -1,699.93% 0.00%
Tax Burden Percent
100.37% 112.69% 95.80% 103.58% 87.76% 72.70% 94.44% 104.89% 101.56% 104.02% 100.00%
Interest Burden Percent
99.83% 26.94% 99.08% 151.06% 86.70% 32.87% 103.22% 141.37% -383.16% -209.25% 100.09%
Effective Tax Rate
0.00% -12.69% 0.00% 0.00% 12.24% 27.30% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)
-14.71% 13.07% -92.19% -11.71% 34.63% 9.42% -12.11% -5.77% -1.21% -15.94% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)
-0.84% 15.41% -53.34% -7.88% 35.92% 9.96% -1.26% 1.59% 1.08% -2.99% 0.00%
Return on Net Nonoperating Assets (RNNOA)
0.11% -1.95% 6.16% 1.58% -6.83% -2.04% 0.17% -0.31% -0.23% 1.11% 0.00%
Return on Equity (ROE)
-14.60% 11.12% -86.02% -10.13% 27.80% 7.38% -11.94% -6.08% -1.44% -14.83% 4.31%
Cash Return on Invested Capital (CROIC)
-56.80% -61.56% -70.84% -46.59% -34.66% -27.30% -13.35% -35.48% -32.24% -80.51% 0.00%
Operating Return on Assets (OROA)
-15.63% 28.23% -99.16% -7.01% 31.07% 25.47% -13.20% -4.22% 0.35% 6.14% 0.00%
Return on Assets (ROA)
-15.66% 8.57% -94.12% -10.97% 23.64% 6.09% -12.87% -6.26% -1.35% -13.36% 0.00%
Return on Common Equity (ROCE)
-14.60% 11.12% -86.02% -10.13% 27.80% 7.38% -11.94% -6.08% -1.44% -14.83% 4.31%
Return on Equity Simple (ROE_SIMPLE)
-16.81% 0.00% -7.67% 2.40% 3.11% 0.00% -25.68% -2.94% -7.58% 0.00% 4.29%
Net Operating Profit after Tax (NOPAT)
-27 19 -64 -11 41 11 -13 -8.46 -2.88 -35 59
NOPAT Margin
-55.00% 43.30% -265.44% -29.85% 85.30% 24.19% -44.00% -27.10% -13.18% -1,147.24% 0.00%
Net Nonoperating Expense Percent (NNEP)
-13.87% -2.34% -38.85% -3.83% -1.29% -0.53% -10.85% -7.36% -2.30% -12.95% 0.03%
Return On Investment Capital (ROIC_SIMPLE)
-3.46% 2.69% - - - 2.25% - - - - -
Cost of Revenue to Revenue
58.18% -27.81% 117.65% 37.66% 55.43% -65.36% 90.00% 73.29% 91.25% 9.55% 0.00%
SG&A Expenses to Revenue
18.46% 157.69% 37.01% 22.06% 12.62% 140.59% 22.46% 27.76% 25.04% 625.19% 0.00%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
108.12% 180.55% 365.06% 118.42% -35.80% 199.89% 66.28% 71.16% 48.48% 3,619.46% 0.00%
Earnings before Interest and Taxes (EBIT)
-39 58 -91 -9.77 52 44 -19 -8.90 1.17 24 59
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
4.94 94 -62 11 70 61 -2.65 5.74 13 28 59
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
1.13 2.37 1.89 1.86 2.54 2.14 1.71 2.07 1.68 0.40 0.81
Price to Tangible Book Value (P/TBV)
1.15 2.40 1.97 1.89 2.58 2.18 1.71 2.07 1.68 0.40 0.81
Price to Revenue (P/Rev)
5.37 10.44 8.17 7.94 9.82 8.14 6.76 12.68 23.24 45.64 0.00
Price to Earnings (P/E)
0.00 0.00 0.00 77.59 81.76 0.00 0.00 0.00 0.00 0.00 18.83
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield
0.00% 0.00% 0.00% 1.29% 1.22% 0.00% 0.00% 0.00% 0.00% 0.00% 5.31%
Enterprise Value to Invested Capital (EV/IC)
1.14 2.42 2.02 2.15 3.01 2.51 1.79 2.20 1.77 0.30 0.78
Enterprise Value to Revenue (EV/Rev)
5.13 10.26 7.65 6.87 8.91 7.20 6.33 12.06 21.69 29.37 0.00
Enterprise Value to EBITDA (EV/EBITDA)
14.46 14.09 17.41 8.68 11.24 12.02 12.33 6.36 7.54 2.16 15.33
Enterprise Value to EBIT (EV/EBIT)
0.00 177.34 0.00 19.60 24.00 53.17 0.00 9.00 9.86 2.47 15.33
Enterprise Value to NOPAT (EV/NOPAT)
0.00 0.00 0.00 64.28 66.83 0.00 0.00 0.00 0.00 0.00 15.63
Enterprise Value to Operating Cash Flow (EV/OCF)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.05 0.05 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage
-0.13 -0.13 -0.12 -0.20 -0.19 -0.20 -0.13 -0.20 -0.21 -0.37 -0.45
Leverage Ratio
1.19 1.21 1.17 1.15 1.15 1.18 1.14 1.16 1.12 1.11 1.03
Compound Leverage Factor
1.19 0.33 1.16 1.74 1.00 0.39 1.17 1.63 -4.30 -2.32 1.04
Debt to Total Capital
4.60% 4.53% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital
4.60% 4.53% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
95.40% 95.47% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA
0.64 0.29 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA
-0.66 -0.24 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT
-0.39 -1.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT
0.40 0.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score
2.50 5.74 6.98 9.49 12.69 8.84 4.36 5.45 4.79 0.94 8.09
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
1.11 1.28 2.57 8.49 8.08 4.60 1.40 1.09 1.10 1.18 3.56
Quick Ratio
0.17 0.06 0.43 3.38 2.90 2.57 0.10 0.10 0.17 0.33 1.47
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-266 -266 -350 -221 -112 -65 4.19 -97 -73 -185 -166
Operating Cash Flow to CapEx
-189.54% -61.02% -8.50% -303.18% -328.76% 0.00% -417.41% -166.64% -56.51% -110.75% 6.55%
Free Cash Flow to Firm to Interest Expense
-341.85 -450.12 -1,011.32 -594.66 -281.00 -134.64 6.68 -200.75 -183.11 -1,347.73 0.00
Operating Cash Flow to Interest Expense
-60.80 -49.12 -18.92 -68.15 -66.59 -98.59 -29.55 -36.40 -25.29 -87.77 0.00
Operating Cash Flow Less CapEx to Interest Expense
-92.87 -129.60 -241.37 -90.63 -86.85 -74.18 -36.63 -58.24 -70.05 -167.01 0.00
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.19 0.22 0.26 0.27 0.29 0.26 0.21 0.15 0.06 0.01 0.00
Accounts Receivable Turnover
142.94 87.03 483.21 132.03 115.91 125.01 158.67 45.64 0.00 0.00 0.00
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
0.43 0.00 0.55 0.64 0.62 0.59 0.58 0.39 0.18 0.03 0.00
Accounts Payable Turnover
3.13 3.90 4.09 4.44 4.77 3.38 10.05 4.23 2.24 0.03 0.00
Days Sales Outstanding (DSO)
2.55 4.19 0.76 2.76 3.15 2.92 2.30 8.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
116.71 93.66 89.31 82.27 76.54 108.06 36.33 86.20 162.74 11,082.78 0.00
Cash Conversion Cycle (CCC)
-114.15 -89.47 -88.55 -79.50 -73.39 -105.14 -34.03 -78.20 -162.74 -11,082.78 0.00
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
699 655 592 518 460 370 306 308 306 293 323
Invested Capital Turnover
0.27 0.30 0.35 0.39 0.41 0.39 0.28 0.21 0.09 0.01 0.00
Increase / (Decrease) in Invested Capital
239 285 286 210 153 76 -18 89 71 150 226
Enterprise Value (EV)
795 1,587 1,193 1,114 1,386 930 548 677 541 89 252
Market Capitalization
832 1,614 1,273 1,287 1,527 1,052 585 712 579 139 312
Book Value per Share
$2.03 $1.96 $2.04 $2.23 $2.03 $1.93 $1.37 $1.38 $1.39 $1.39 $1.55
Tangible Book Value per Share
$2.01 $1.94 $1.96 $2.20 $2.00 $1.90 $1.37 $1.38 $1.39 $1.38 $1.55
Total Capital
770 714 672 691 601 491 343 343 345 343 383
Total Debt
35 32 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt
-36 -27 -80 -173 -141 -121 -37 -35 -38 -49 -60
Capital Expenditures (CapEx)
25 47 77 8.36 8.10 -12 4.44 11 18 11 16
Debt-free, Cash-free Net Working Capital (DFCFNWC)
28 63 67 150 131 36 12 1.88 -0.75 -4.52 22
Debt-free Net Working Capital (DFNWC)
51 69 93 273 219 122 16 3.62 3.18 7.41 50
Net Working Capital (NWC)
16 36 93 273 219 122 16 3.62 3.18 7.41 50
Net Nonoperating Expense (NNE)
12 1.74 23 3.97 1.16 0.46 5.25 4.74 1.67 17 -0.06
Net Nonoperating Obligations (NNO)
-36 -27 -80 -173 -141 -121 -37 -35 -38 -49 -60
Total Depreciation and Amortization (D&A)
44 37 29 21 17 17 16 15 12 4.57 0.22
Debt-free, Cash-free Net Working Capital to Revenue
18.14% 40.86% 43.20% 92.76% 84.00% 27.55% 14.08% 3.35% -2.99% -148.77% 0.00%
Debt-free Net Working Capital to Revenue
33.09% 44.47% 59.46% 168.35% 141.05% 94.20% 17.94% 6.45% 12.74% 243.96% 0.00%
Net Working Capital to Revenue
10.21% 23.56% 59.46% 168.35% 141.05% 94.20% 17.94% 6.45% 12.74% 243.96% 0.00%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
($0.11) $0.04 ($0.26) ($0.05) $0.13 $0.04 ($0.07) ($0.05) ($0.03) $0.00 $0.24
Adjusted Weighted Average Basic Shares Outstanding
360.51M 323.10M 332.68M 314.35M 296.64M 252.44M 251.79M 249.13M 248.65M 248.23M 247.51M
Adjusted Diluted Earnings per Share
($0.11) $0.04 ($0.26) ($0.05) $0.13 $0.04 ($0.07) ($0.05) ($0.03) $0.00 $0.24
Adjusted Weighted Average Diluted Shares Outstanding
360.51M 323.10M 332.68M 314.35M 304.40M 252.44M 251.79M 249.13M 248.65M 248.23M 248.34M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
371.21M 361.53M 347.81M 328.94M 310.03M 296.49M 254.66M 250.96M 248.94M 248.63M 247.52M
Normalized Net Operating Profit after Tax (NOPAT)
-27 12 -64 -11 41 11 -13 -8.46 -2.88 -35 41
Normalized NOPAT Margin
-55.00% 26.90% -265.44% -29.85% 85.30% 24.19% -44.00% -27.10% -13.18% -1,147.24% 0.00%
Pre Tax Income Margin
-80.10% 34.96% -375.72% -38.94% 94.45% 31.91% -64.86% -40.30% -20.48% -1,634.31% 0.00%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
-50.06 97.76 -264.16 -26.27 131.09 91.22 -30.47 -18.35 2.92 173.14 0.00
NOPAT to Interest Expense
-34.31 32.62 -184.90 -30.43 102.65 22.74 -21.33 -17.45 -7.19 -254.32 0.00
EBIT Less CapEx to Interest Expense
-82.13 17.28 -486.61 -48.75 110.84 115.63 -37.55 -40.20 -41.84 93.89 0.00
NOPAT Less CapEx to Interest Expense
-66.39 -47.86 -407.35 -52.91 82.40 47.15 -28.41 -39.29 -51.95 -333.57 0.00
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio
-22.52% -69.74% -34.98% 97.82% 62.25% -28.34% -4.02% -12.18% -1.99% -7.91% 0.00%

Frequently Asked Questions About Cipher Mining's Financials

When does Cipher Mining's financial year end?

According to the most recent income statement we have on file, Cipher Mining's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Cipher Mining's net income changed over the last 3 years?

Cipher Mining's net income appears to be on an upward trend, with a most recent value of -$44.64 million in 2024, rising from -$107.03 thousand in 2021. The previous period was -$25.78 million in 2023.

What is Cipher Mining's operating income?
Cipher Mining's total operating income in 2024 was -$43.70 million, based on the following breakdown:
  • Total Gross Profit: $97.64 million
  • Total Operating Expenses: $195.90 million
How has Cipher Mining revenue changed over the last 3 years?

Over the last 3 years, Cipher Mining's total revenue changed from $0.00 in 2021 to $154.60 million in 2024, a change of 15,460,300,000.0%.

How much debt does Cipher Mining have?

Cipher Mining's total liabilities were at $173.49 million at the end of 2024, a 131.9% increase from 2023, and a 68,621.5% increase since 2020.

How much cash does Cipher Mining have?

In the past 4 years, Cipher Mining's cash and equivalents has ranged from $1.28 million in 2020 to $209.84 million in 2021, and is currently $5.59 million as of their latest financial filing in 2024.

How has Cipher Mining's book value per share changed over the last 3 years?

Over the last 3 years, Cipher Mining's book value per share changed from 16.46 in 2021 to 1.96 in 2024, a change of -88.1%.



This page (NASDAQ:CIFRW) was last updated on 5/25/2025 by MarketBeat.com Staff
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