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Cipher Mining (CIFRW) Financials

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$0.40 -0.02 (-5.04%)
As of 05/2/2025 03:59 PM Eastern
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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 2021 2022 2023 2024
Period end date 12/31/2020 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 0.01 -39 -26 -45
Consolidated Net Income / (Loss)		 -0.11 -39 -26 -45
Net Income / (Loss) Continuing Operations		 0.01 -39 -26 -45
Total Pre-Tax Income 		0.01 -37 -22 -44
Total Operating Income		 0.00 -37 -20 -44
Total Gross Profit		 0.00 2.75 89 98
Total Revenue		 0.00 3.04 129 155
Operating Revenue		 - 3.04 127 151
Other Revenue		 - 0.00 2.36 3.33
Total Cost of Revenue		 0.00 0.29 40 57
Operating Cost of Revenue		 - 0.29 40 57
Total Operating Expenses		 0.00 77 144 196
Selling, General & Admin Expense		 0.00 71 85 93
Depreciation Expense		 - 4.38 59 102
Total Other Income / (Expense), net		 0.01 37 33 54
Interest Expense		 - 0.14 2.00 1.71
Interest & Investment Income		 0.03 -37 -2.37 3.00
Other Income / (Expense), net		 -0.02 74 38 53
Income Tax Expense		 - 1.84 3.57 0.32
Basic Earnings per Share		 $0.00 ($0.16) ($0.10) ($0.14)
Weighted Average Basic Shares Outstanding		 4.48M 248.23M 252.44M 323.10M
Diluted Earnings per Share		 $0.00 ($0.16) ($0.10) ($0.14)
Weighted Average Diluted Shares Outstanding		 4.48M 248.23M 252.44M 323.10M
Weighted Average Basic & Diluted Shares Outstanding		 21.21M 248.63M 296.49M 361.53M

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

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

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

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 2020 2021 2022 2023 2024
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 172 354 418 566 855
Total Current Assets		 1.57 224 48 155 168
Cash & Equivalents		 1.28 210 12 86 5.59
Accounts Receivable		 - 0.00 1.20 0.87 2.69
Prepaid Expenses		 0.30 14 7.25 3.67 3.39
Other Current Assets		 - 0.00 27 65 157
Plant, Property, & Equipment, net		 0.00 5.12 191 244 0.00
Total Noncurrent Assets		 170 125 180 167 687
Long-Term Investments		 - 0.00 37 35 54
Intangible Assets		 - - 0.60 8.11 8.88
Other Noncurrent Operating Assets		 170 125 141 123 624
Total Liabilities & Shareholders' Equity		 172 354 418 566 855
Total Liabilities		 0.25 0.64 76 75 173
Total Current Liabilities		 0.13 0.50 40 34 132
Short-Term Debt		 - - - 0.00 32
Accounts Payable		 0.13 0.24 17 6.53 23
Accrued Expenses		 - 0.26 19 22 70
Other Current Liabilities		 - 0.00 3.60 4.82 6.93
Total Noncurrent Liabilities		 0.12 0.14 35 41 42
Asset Retirement Reserve & Litigation Obligation		 - 0.00 17 18 20
Noncurrent Deferred & Payable Income Tax Liabilities		 - 0.00 1.84 5.21 4.27
Other Noncurrent Operating Liabilities		 0.12 0.14 17 17 17
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1.35 354 343 491 682
Total Preferred & Common Equity		 1.35 354 343 491 682
Preferred Stock		 - 0.00 0.00 0.00 0.00
Total Common Equity		 1.35 354 343 491 682
Common Stock		 1.46 426 454 628 863
Retained Earnings		 -0.11 -72 -111 -137 -181
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 Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
Total Assets		 407 413 417 416 677 776 775
Total Current Assets		 70 36 42 54 250 309 152
Cash & Equivalents		 28 3.92 1.74 3.34 89 123 25
Accounts Receivable		 0.73 1.57 1.99 0.36 1.11 0.46 0.29
Prepaid Expenses		 8.28 4.28 2.26 3.96 2.91 3.60 3.49
Other Current Assets		 33 27 36 47 158 183 123
Plant, Property, & Equipment, net		 41 263 268 258 239 239 311
Total Noncurrent Assets		 297 113 107 104 188 227 313
Long-Term Investments		 32 35 33 34 53 50 55
Intangible Assets		 - - - - 8.16 8.50 26
Other Noncurrent Operating Assets		 265 79 74 70 128 169 232
Total Liabilities & Shareholders' Equity		 407 413 417 416 677 776 775
Total Liabilities		 24 68 74 74 76 85 103
Total Current Liabilities		 20 33 39 39 31 36 59
Accounts Payable		 7.88 12 3.61 6.16 7.52 14 13
Accrued Expenses		 11 17 23 25 19 18 41
Other Current Liabilities		 1.00 3.74 12 7.92 4.80 4.86 5.17
Total Noncurrent Liabilities		 4.78 35 35 35 45 48 44
Asset Retirement Reserve & Litigation Obligation		 - 17 18 18 19 19 20
Noncurrent Deferred & Payable Income Tax Liabilities		 - 1.89 2.51 1.29 10 11 6.56
Other Noncurrent Operating Liabilities		 4.78 16 15 16 16 18 18
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 383 345 343 343 601 691 672
Total Preferred & Common Equity		 383 345 343 343 601 691 672
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 383 345 343 343 601 691 672
Common Stock		 443 462 474 491 698 803 871
Retained Earnings		 -60 -118 -131 -148 -97 -112 -199
Treasury Stock		 -0.00 -0.00 -0.00 -0.01 -0.01 -0.01 -0.01

Annual Metrics and Ratios for Cipher Mining

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

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

Quarterly Metrics and Ratios for Cipher Mining

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

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

Frequently Asked Questions About Cipher Mining's Financials

When does Cipher Mining's fiscal year end?

According to the most recent income statement we have on file, Cipher Mining's financial year ends in December. Their financial 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%.


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This page (NASDAQ:CIFRW) was last updated on 5/4/2025 by MarketBeat.com Staff
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