Core Scientific (CORZ) Financials

$27.20 +0.83 (+3.15%)

Closing price 04:00 PM Eastern

Extended Trading

$27.48 +0.28 (+1.01%)

As of 04:58 PM Eastern

Annual Income Statements for Core Scientific

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

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-18	47	-2,146	-246	-1,438	-289
Consolidated Net Income / (Loss)	-12	47	-2,146	-246	-1,438	-289
Net Income / (Loss) Continuing Operations	-18	47	-2,146	-246	-1,438	-289
Total Pre-Tax Income	-12	63	-2,163	-246	-1,437	-288
Total Operating Income	-6.33	131	-2,110	8.96	-142	-246
Total Gross Profit	9.39	239	8.40	123	121	38
Total Revenue	54	544	640	502	511	319
Operating Revenue	54	544	640	502	511	319
Total Cost of Revenue	51	306	632	379	403	281
Operating Cost of Revenue	51	306	632	379	403	281
Total Operating Expenses	16	107	2,118	114	249	283
Selling, General & Admin Expense	15	60	213	108	114	159
Other Operating Expenses / (Income)	-	0.00	0.00	0.03	8.63	103
Impairment Charge	0.00	37	1,881	4.41	123	11
Other Special Charges / (Income)	-5.88	-2.06	-16	1.96	4.21	9.68
Total Other Income / (Expense), net	-5.88	-68	-54	-255	-1,295	-42
Interest Expense	1.33	8.02	0.29	-20	0.49	1.93
Interest & Investment Income	-4.44	-44	-97	-86	-37	3.28
Other Income / (Expense), net	-0.11	-16	43	-189	-1,257	-44
Income Tax Expense	0.00	16	-17	0.68	0.86	0.58
Basic Earnings per Share	($0.14)	$0.23	($6.30)	($0.65)	($4.87)	($0.88)
Weighted Average Basic Shares Outstanding	157.60M	207.26M	340.65M	379.86M	255.83M	318.07M
Diluted Earnings per Share	($0.14)	$0.20	($6.30)	($0.65)	($4.87)	($0.88)
Weighted Average Diluted Shares Outstanding	157.60M	233.31M	340.65M	379.86M	255.83M	318.07M
Weighted Average Basic & Diluted Shares Outstanding	-	0.00	373.80M	177.60M	294.12M	315.33M

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-41	-196	211	-902	-455	-266	576	-937	-144	214	-347
Consolidated Net Income / (Loss)	-41	-196	211	-902	-455	-266	576	-937	-144	214	-347
Net Income / (Loss) Continuing Operations	-41	-196	211	-902	-455	-266	576	-937	-144	214	-347
Total Pre-Tax Income	-41	-195	211	-902	-455	-265	576	-937	-144	214	-347
Total Operating Income	-12	3.93	55	-91	-41	-40	-47	-26	-55	-119	-310
Total Gross Profit	15	39	78	39	-0.16	4.76	8.21	5.03	3.91	21	30
Total Revenue	113	142	180	141	95	94	80	79	81	80	115
Operating Revenue	113	142	180	141	95	94	80	79	81	80	115
Total Cost of Revenue	97	103	102	102	96	90	71	74	77	59	85
Operating Cost of Revenue	97	103	102	102	96	90	71	74	77	59	85
Total Operating Expenses	27	35	23	129	41	44	55	31	59	140	341
Selling, General & Admin Expense	24	24	17	31	40	36	32	57	69	-7.19	45
Other Operating Expenses / (Income)	0.00	0.03	2.22	1.12	0.21	0.26	23	-30	-11	133	16
Impairment Charge	0.68	1.54	-	97	0.00	-	0.00	0.00	0.00	-	266
Other Special Charges / (Income)	-0.02	3.80	3.82	-0.27	0.51	0.15	0.01	4.17	0.30	2.58	14
Total Other Income / (Expense), net	-29	-199	156	-811	-414	-225	623	-910	-89	334	-36
Interest & Investment Income	-2.20	-84	-14	-15	-7.07	-1.14	2.19	1.19	0.82	-0.92	-4.86
Other Income / (Expense), net	-27	-114	170	-796	-407	-224	621	-910	-90	335	-31
Income Tax Expense	0.11	0.34	0.21	0.14	0.13	0.38	0.21	0.16	0.13	0.10	0.60
Basic Earnings per Share	($0.11)	($0.52)	$0.91	($5.05)	($1.17)	$0.38	$1.42	($0.04)	($0.45)	($1.82)	($1.06)
Weighted Average Basic Shares Outstanding	382.48M	379.86M	230.95M	178.51M	292.49M	255.83M	315.19M	317.99M	318.56M	318.07M	322.91M
Diluted Earnings per Share	($0.11)	($0.52)	$0.78	($5.05)	($1.17)	$0.51	$1.24	($0.04)	($0.45)	($1.63)	($1.06)
Weighted Average Diluted Shares Outstanding	382.48M	379.86M	282.53M	178.51M	292.49M	255.83M	363.31M	317.99M	318.56M	318.07M	322.91M
Weighted Average Basic & Diluted Shares Outstanding	386.02M	177.60M	177.78M	258.22M	279.25M	294.12M	297.82M	305.41M	310.06M	315.33M	317.89M

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

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	1.81	123	-79	17	767	-526
Net Cash From Operating Activities	-24	-57	205	65	43	278
Net Cash From Continuing Operating Activities	-24	-57	205	65	43	278
Net Income / (Loss) Continuing Operations	-12	47	-2,146	-246	-1,438	-289
Consolidated Net Income / (Loss)	-12	47	-2,146	-246	-1,438	-289
Depreciation Expense	9.40	33	225	96	113	69
Amortization Expense	1.30	1.37	7.97	1.19	11	17
Non-Cash Adjustments To Reconcile Net Income	4.95	-75	2,058	47	1,387	-44
Changes in Operating Assets and Liabilities, net	-27	-64	60	167	-30	525
Net Cash From Investing Activities	-15	-424	-591	-3.00	-95	-741
Net Cash From Continuing Investing Activities	-15	-425	-591	-3.00	-95	-741
Purchase of Property, Plant & Equipment	0.00	0.00	-384	-16	-95	-729
Acquisitions	-14	-365	-	-0.83	-0.23	-15
Sale of Property, Plant & Equipment	-	0.00	0.00	14	0.00	3.46
Net Cash From Financing Activities	41	604	306	-45	820	-63
Net Cash From Continuing Financing Activities	41	604	306	-45	820	-63
Repayment of Debt	-7.10	-49	-113	-41	-309	-36
Issuance of Debt	45	671	261	0.00	1,078	0.00
Issuance of Common Equity	-	-	0.00	0.00	55	0.00
Other Financing Activities, net	2.64	-18	190	-3.66	-4.54	-27

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-13	5.77	45	-17	157	583	-138	-117	-128	-142	835
Net Cash From Operating Activities	5.43	22	22	1.20	5.71	14	-45	34	132	153	250
Net Cash From Continuing Operating Activities	5.43	22	22	1.20	5.71	14	-45	34	132	153	250
Net Income / (Loss) Continuing Operations	-41	-196	211	-805	-455	-266	576	-937	-147	214	-347
Consolidated Net Income / (Loss)	-41	-196	211	-805	-455	-266	576	-937	-147	214	-347
Depreciation Expense	24	31	29	29	29	26	20	19	16	14	17
Amortization Expense	0.23	0.49	1.43	2.45	2.29	4.51	4.41	4.36	4.16	4.34	4.84
Non-Cash Adjustments To Reconcile Net Income	15	26	-199	807	431	225	-662	848	39	-269	513
Changes in Operating Assets and Liabilities, net	7.52	159	-20	-33	-1.46	24	17	100	219	189	62
Net Cash From Investing Activities	-2.87	2.36	-32	-3.18	-31	-29	-89	-120	-254	-273	-387
Net Cash From Continuing Investing Activities	-2.87	2.36	-32	-3.18	-31	-29	-89	-120	-254	-273	-387
Purchase of Property, Plant & Equipment	-2.87	-12	-32	-3.14	-31	-29	-84	-121	-244	-275	-389
Acquisitions	-	-	0.00	-	-	-	-5.04	-	-10	-0.05	-0.06
Sale of Property, Plant & Equipment	-	-	-	-	-	-	0.00	-	0.26	1.53	2.63
Net Cash From Financing Activities	-15	-18	54	-15	182	598	-4.20	-32	-5.32	-22	971
Net Cash From Continuing Financing Activities	-15	-18	54	-15	182	598	-4.20	-32	-5.32	-22	971
Repayment of Debt	-12	-22	-14	-11	-271	-15	-3.96	-32	-1.67	1.02	-0.88
Issuance of Debt	-	-	20	-	448	610	0.00	-	-	-	995
Other Financing Activities, net	-3.41	3.41	-6.94	-4.10	6.01	2.97	-0.24	-0.25	-3.65	-23	-23

This table presents Core Scientific'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	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	0.02	2,439	808	712	1,476	2,348
Total Current Assets	0.00	757	85	97	904	896
Cash & Equivalents	0.00	118	16	50	836	311
Restricted Cash	-	14	36	19	0.78	0.00
Other Current Assets	-	593	0.72	26	67	584
Plant, Property, & Equipment, net	0.00	0.00	691	585	433	1,293
Total Noncurrent Assets	0.02	1,682	31	30	139	159
Other Noncurrent Operating Assets	0.02	618	30	30	139	159
Total Liabilities & Shareholders' Equity	0.02	2,439	808	712	1,476	2,348
Total Liabilities	0.00	1,053	1,217	1,309	2,419	3,310
Total Current Liabilities	0.00	320	187	488	135	781
Short-Term Debt	-	104	36	124	-	0.00
Accounts Payable	0.00	12	54	155	19	126
Accrued Expenses	0.00	68	18	180	65	512
Current Deferred Revenue	-	136	78	9.83	18	128
Other Current Liabilities	-	0.00	0.77	20	32	16
Total Noncurrent Liabilities	0.00	733	1,030	821	2,284	2,529
Long-Term Debt	-	652	0.00	684	1,074	1,060
Noncurrent Deferred Revenue	-	-	-	-	0.00	428
Other Noncurrent Operating Liabilities	0.00	19	1,030	99	1,210	1,040
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	0.01	1,341	-409	-597	-943	-963
Total Preferred & Common Equity	0.01	1,341	-409	-597	-943	-963
Preferred Stock	0.00	-	-	0.00	0.00	0.00
Total Common Equity	0.01	1,341	-409	-597	-943	-963
Common Stock	0.03	1,380	1,764	1,823	2,915	3,184
Retained Earnings	-0.01	-27	-2,174	-2,420	-3,858	-4,147

This table presents Core Scientific'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	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	1,404	760	751	705	814	761	922	1,498	1,851	2,171	3,070
Total Current Assets	214	100	111	135	143	118	278	833	1,005	1,061	1,455
Cash & Equivalents	30	47	58	42	98	96	253	698	581	453	1,005
Restricted Cash	8.10	22	19	22	16	0.98	0.78	0.78	0.00	0.00	60
Other Current Assets	173	31	33	34	28	16	18	133	423	608	389
Plant, Property, & Equipment, net	1,156	628	608	547	576	550	550	523	701	954	1,345
Total Noncurrent Assets	34	32	32	23	95	94	94	142	145	156	270
Other Noncurrent Operating Assets	33	30	29	21	93	94	94	142	145	156	270
Total Liabilities & Shareholders' Equity	1,404	760	751	705	814	761	922	1,498	1,851	2,171	3,070
Total Liabilities	1,331	1,169	1,143	1,124	1,132	1,845	1,651	1,807	3,043	3,424	4,375
Total Current Liabilities	1,289	215	187	313	138	75	77	196	563	670	2,662
Short-Term Debt	978	36	28	128	23	18	18	16	-	-	994
Accounts Payable	44	50	54	46	16	8.49	6.50	6.33	215	212	219
Accrued Expenses	102	59	41	56	68	29	32	95	181	358	364
Current Deferred Revenue	87	70	64	63	9.25	7.91	9.94	61	150	84	220
Other Current Liabilities	78	0.60	0.42	20	21	11	10	17	17	16	865
Total Noncurrent Liabilities	42	954	956	812	994	1,771	1,575	1,611	2,480	2,754	1,713
Long-Term Debt	0.00	-	0.05	680	557	527	475	1,072	1,058	1,059	1,062
Noncurrent Deferred Revenue	-	-	-	-	-	-	-	-	-	-	435
Other Noncurrent Operating Liabilities	42	953	955	95	368	1,176	1,035	445	1,422	1,695	217
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	73	-409	-392	-419	-319	-1,084	-729	-309	-1,192	-1,253	-1,306
Total Preferred & Common Equity	73	-409	-392	-419	-319	-1,084	-729	-309	-1,192	-1,253	-1,306
Preferred Stock	-	-	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	73	-409	-392	-419	-319	-1,084	-729	-309	-1,192	-1,253	-1,306
Common Stock	1,739	1,777	1,791	1,806	1,891	1,931	2,740	2,973	3,027	3,110	3,188
Retained Earnings	-1,739	-2,185	-2,183	-2,225	-2,210	-3,014	-3,470	-3,282	-4,219	-4,363	-4,494

This table displays calculated financial ratios and metrics derived from Core Scientific's official financial filings.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	620,122,600.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	620,122,600.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-0.47
Growth Metrics	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	-4.43	99	-1,477	6.27	-13	-172
Return On Investment Capital (ROIC_SIMPLE)	-	-	396.55%	2.52%	-3.65%	-176.17%
Earnings before Interest and Taxes (EBIT)	-6.44	115	-2,066	-180	-1,277	-289
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	4.27	150	-1,833	-82	-1,153	-203
Valuation Ratios	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-1,974	1,021	-597	635	-664
Efficiency Ratios	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	0.01	2,073	-425	179	-469	-214
Increase / (Decrease) in Invested Capital	0.00	2,073	-2,497	604	-648	492
Book Value per Share	$0.00	$31.10	($1.09)	($1.55)	($2.94)	($3.11)
Tangible Book Value per Share	$0.00	$6.43	($1.10)	($1.55)	($2.94)	($3.11)
Total Capital	0.01	2,204	-372	249	368	98
Total Debt	0.00	819	37	846	1,188	1,060
Total Long-Term Debt	0.00	714	0.72	721	1,172	1,060
Net Debt	0.00	687	-15	776	351	749
Capital Expenditures (CapEx)	0.00	0.00	384	3.00	95	726
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-0.00	409	-118	-337	-51	-197
Debt-free Net Working Capital (DFNWC)	-0.00	541	-65	-267	786	114
Net Working Capital (NWC)	-0.00	436	-102	-391	769	114
Net Nonoperating Expense (NNE)	7.78	51	670	253	1,302	117
Net Nonoperating Obligations (NNO)	0.00	687	-15	776	351	749
Total Depreciation and Amortization (D&A)	11	35	233	97	124	86
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($0.83)	($6.30)	($0.65)	($4.39)	($0.88)
Adjusted Weighted Average Basic Shares Outstanding	0.00	316.24M	340.65M	379.86M	255.83M	318.07M
Adjusted Diluted Earnings per Share	$0.00	($0.83)	($6.30)	($0.65)	($4.39)	($0.88)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	316.24M	340.65M	379.86M	255.83M	318.07M
Adjusted Basic & Diluted Earnings per Share	$0.00	($0.83)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	8.50M	373.80M	177.60M	294.12M	315.33M
Normalized Net Operating Profit after Tax (NOPAT)	-8.55	125	-171	11	-10	-157
Debt Service Ratios	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-

This table displays calculated financial ratios and metrics derived from Core Scientific's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	620,122,600.00	315,332,655.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	620,122,600.00	315,332,655.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	0.35	-1.10
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-30.55%	17.05%	49.05%	11.18%	-15.54%	-33.50%	-55.64%	-44.28%	-14.95%	-	44.92%
EBITDA Growth	95.55%	78.38%	42,747.75%	-6,645.19%	-2,726.82%	-196.78%	135.99%	-20.50%	69.53%	-	-153.43%
EBIT Growth	90.15%	74.57%	1,177.34%	-8,516.31%	-1,041.89%	-139.23%	157.17%	-18.56%	67.06%	-	-159.42%
NOPAT Growth	97.00%	100.62%	936.81%	-30.52%	-242.24%	-1,111.26%	-177.18%	-499.51%	-39.32%	-	-362.12%
Net Income Growth	90.54%	55.00%	54,401.80%	-8,592.18%	-1,006.45%	-35.69%	175.61%	-16.39%	67.79%	-	-160.25%
EPS Growth	91.06%	50.94%	0.00%	-22,450.00%	-963.64%	198.08%	60.26%	99.11%	60.68%	-	-185.48%
Operating Cash Flow Growth	110.44%	-81.29%	11.19%	-93.32%	5.13%	-36.39%	-283.09%	2,723.92%	2,206.69%	-	654.78%
Free Cash Flow Firm Growth	167.74%	-129.28%	-122.22%	-92.92%	6.50%	203.21%	78.78%	-98.72%	-92.13%	-	5,387.73%
Invested Capital Growth	-67.81%	142.17%	149.24%	-29.02%	-230.43%	-361.96%	39.33%	-3.54%	-22.82%	-	-279.80%
Revenue Q/Q Growth	-11.04%	25.71%	26.71%	-21.54%	-32.42%	-1.02%	-15.74%	-1.13%	3.15%	-	44.48%
EBITDA Q/Q Growth	-227.31%	-433.62%	424.72%	-396.69%	45.01%	43.98%	358.20%	-251.50%	86.11%	-	-236.55%
EBIT Q/Q Growth	-327.73%	-181.47%	303.90%	-450.99%	43.31%	41.03%	319.18%	-261.82%	84.26%	-	-258.18%
NOPAT Q/Q Growth	-227.19%	132.66%	1,903.52%	-91.65%	-726.52%	3.48%	-52.90%	56.79%	-118.48%	-	-82.25%
Net Income Q/Q Growth	-344.34%	-375.61%	207.66%	-482.03%	43.44%	41.67%	318.68%	-261.32%	84.34%	-	-262.12%
EPS Q/Q Growth	-450.00%	-372.73%	250.00%	-678.21%	74.06%	143.59%	145.10%	-103.20%	-1,050.00%	-	34.97%
Operating Cash Flow Q/Q Growth	-69.87%	299.39%	2.17%	-94.57%	374.50%	141.64%	-394.09%	183.75%	287.59%	-	63.25%
Free Cash Flow Firm Q/Q Growth	-63.72%	-188.57%	-0.68%	121.94%	445.71%	-14.16%	-120.64%	101.32%	3,257.19%	-	144.75%
Invested Capital Q/Q Growth	174.04%	-45.09%	22.41%	-361.48%	25.15%	-10.28%	164.55%	-294.31%	11.21%	-	-47.56%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	13.66%	27.69%	43.18%	27.51%	-0.16%	5.05%	10.33%	6.39%	4.81%	-	26.12%
EBITDA Margin	-13.06%	-55.43%	142.05%	-537.15%	-437.06%	-247.38%	758.06%	-1,161.59%	-156.43%	-	-277.45%
Operating Margin	-10.67%	2.77%	30.71%	4.66%	-43.23%	-42.15%	-53.56%	-33.43%	-70.81%	-	-269.36%
EBIT Margin	-34.73%	-77.76%	125.13%	-559.78%	-469.55%	-279.75%	727.71%	-1,190.99%	-181.69%	-	-296.09%
Profit (Net Income) Margin	-36.44%	-137.88%	117.16%	-570.44%	-477.44%	-281.35%	730.20%	-1,191.43%	-180.83%	-	-301.26%
Tax Burden Percent	100.28%	100.17%	99.90%	100.02%	100.03%	100.14%	99.96%	100.02%	100.09%	-	100.17%
Interest Burden Percent	104.65%	177.01%	93.72%	101.89%	101.65%	100.43%	100.38%	100.02%	99.44%	-	101.57%
Effective Tax Rate	0.00%	0.00%	0.10%	0.00%	0.00%	0.00%	0.04%	0.00%	0.00%	-	0.00%
Return on Invested Capital (ROIC)	-5.37%	0.00%	0.00%	0.00%	0.00%	0.00%	-84.61%	0.00%	0.00%	-	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	-9.26%	0.00%	0.00%	0.00%	0.00%	0.00%	37.59%	0.00%	0.00%	-	0.00%
Return on Net Nonoperating Assets (RNNOA)	45.11%	0.00%	0.00%	0.00%	0.00%	0.00%	-76.69%	0.00%	0.00%	-	0.00%
Return on Equity (ROE)	39.74%	48.99%	9.74%	112.58%	216.90%	185.59%	-161.30%	100.24%	82.73%	-	150.15%
Cash Return on Invested Capital (CROIC)	36.61%	-333.65%	-284.87%	0.00%	0.00%	0.00%	-64.37%	0.00%	0.00%	-	0.00%
Operating Return on Assets (OROA)	-15.86%	-51.41%	89.29%	-426.24%	-322.14%	-123.64%	245.16%	-302.96%	-37.74%	-	-45.99%
Return on Assets (ROA)	-16.64%	-91.16%	83.60%	-434.35%	-327.55%	-124.34%	246.00%	-303.07%	-37.56%	-	-46.79%
Return on Common Equity (ROCE)	39.74%	48.99%	9.74%	112.58%	216.90%	185.59%	-161.30%	100.24%	82.73%	-	150.15%
Return on Equity Simple (ROE_SIMPLE)	115.98%	0.00%	11.12%	76.67%	170.71%	0.00%	520.64%	0.00%	0.00%	-	0.00%
Net Operating Profit after Tax (NOPAT)	-8.43	2.75	55	4.61	-29	-28	-43	-18	-40	-119	-217
NOPAT Margin	-7.47%	1.94%	30.68%	3.26%	-30.26%	-29.51%	-53.54%	-23.40%	-49.56%	-	-188.55%
Net Nonoperating Expense Percent (NNEP)	3.88%	52.17%	-61.81%	346.20%	81.31%	42.18%	-122.20%	185.16%	23.41%	-	17.62%
Return On Investment Capital (ROIC_SIMPLE)	-	1.11%	-	-	-	-7.57%	-4.25%	263.59%	58.30%	-122.18%	-28.98%
Cost of Revenue to Revenue	86.34%	72.31%	56.52%	72.49%	100.16%	95.53%	89.67%	93.61%	95.19%	-	73.88%
SG&A Expenses to Revenue	20.82%	17.08%	7.86%	18.60%	36.03%	37.83%	50.44%	72.42%	85.51%	-	38.91%
R&D to Revenue	2.00%	1.32%	1.00%	1.54%	2.98%	5.31%	0.00%	0.00%	0.00%	-	0.00%
Operating Expenses to Revenue	24.32%	24.92%	12.77%	22.85%	43.06%	46.62%	63.89%	39.82%	75.62%	-	295.92%
Earnings before Interest and Taxes (EBIT)	-39	-110	225	-790	-448	-264	579	-936	-147	216	-341
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-15	-79	255	-758	-417	-233	603	-913	-127	234	-320
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Price to Revenue (P/Rev)	0.00	0.00	1.12	2.87	5.49	7.68	5.18	14.59	16.40	-	13.30
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	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	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	5.36	0.00	0.00	0.00	8.63	0.00	0.00	-	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	2.07	3.77	6.03	8.37	6.36	15.96	18.21	-	16.09
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	6.71	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	17.57	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	29.40	57.71	196.14	0.00	0.00	0.00	0.00	-	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	17.29	42.94	66.28	99.65	0.00	430.39	43.78	-	9.96
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	13.11	4.38	6.74	0.00	0.00	0.00	-	42.38
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-2.02	-1.42	-2.04	-0.57	-0.76	-1.45	-6.52	-0.99	-0.94	-	-1.57
Long-Term Debt to Equity	-1.71	-1.21	-1.97	-0.55	-0.74	-1.43	-6.43	-0.99	-0.94	-	-0.81
Financial Leverage	-4.87	-0.76	-0.69	-0.32	-0.91	-0.80	-2.04	-0.46	-0.49	-	-0.91
Leverage Ratio	-6.10	-1.51	-2.16	-1.02	-1.42	-1.63	-4.88	-1.28	-1.73	-	-2.83
Compound Leverage Factor	-6.39	-2.67	-2.03	-1.04	-1.44	-1.64	-4.90	-1.28	-1.72	-	-2.87
Debt to Total Capital	198.27%	339.97%	196.06%	-130.06%	-325.26%	322.91%	118.12%	-15,153.24%	-1,535.84%	-	274.11%
Short-Term Debt to Total Capital	30.11%	49.99%	7.04%	-3.90%	-10.46%	4.43%	1.62%	0.00%	0.00%	-	132.54%
Long-Term Debt to Total Capital	168.15%	289.98%	189.02%	-126.16%	-314.80%	318.48%	116.50%	-15,153.24%	-1,535.84%	-	141.57%
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	-98.27%	-239.97%	-96.06%	230.06%	425.26%	-222.91%	-18.12%	15,253.24%	1,635.84%	-	-174.11%
Debt to EBITDA	-2.30	-10.26	3.74	-1.03	-0.56	-1.03	-1.47	-1.10	-1.58	-	-1.83
Net Debt to EBITDA	-2.12	-9.41	3.09	-0.87	-0.30	-0.30	-0.60	-0.50	-0.90	-	-0.88
Long-Term Debt to EBITDA	-1.95	-8.75	3.61	-1.00	-0.54	-1.02	-1.45	-1.10	-1.58	-	-0.95
Debt to NOPAT	-1.91	134.82	16.41	16.30	32.50	-88.42	-14.44	-10.08	-9.11	-	-5.77
Net Debt to NOPAT	-1.77	123.71	13.53	13.72	17.72	-26.13	-5.91	-4.54	-5.21	-	-2.78
Long-Term Debt to NOPAT	-1.62	115.00	15.82	15.81	31.46	-87.21	-14.24	-10.08	-9.11	-	-2.98
Altman Z-Score	0.00	0.00	-1.86	-7.60	-4.89	-1.95	-0.11	-3.01	-1.49	-	-2.13
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	0.43	0.20	1.04	1.58	3.63	6.72	4.26	1.79	1.58	-	0.55
Quick Ratio	0.14	0.11	0.72	1.35	3.39	6.22	3.58	1.03	0.68	-	0.38
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	678	-601	-603	132	723	620	-128	1.69	57	-611	274
Operating Cash Flow to CapEx	189.47%	186.48%	69.52%	38.41%	18.33%	47.62%	-45.90%	28.03%	53.96%	-	64.64%
Free Cash Flow to Firm to Interest Expense	0.00	-561.60	-12,069.80	1,103.41	2,279.39	0.00	0.00	1.23	0.00	-	0.00
Operating Cash Flow to Interest Expense	0.00	20.28	443.48	10.03	18.02	0.00	0.00	24.69	0.00	-	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	9.41	-194.40	-16.09	-80.32	0.00	0.00	-63.38	0.00	-	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.46	0.66	0.71	0.76	0.69	0.44	0.34	0.25	0.21	-	0.16
Accounts Receivable Turnover	230.49	798.73	876.10	194.02	151.83	504.12	386.74	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
Fixed Asset Turnover	0.57	0.79	0.93	0.99	1.02	0.89	0.67	0.00	0.41	-	0.38
Accounts Payable Turnover	9.98	3.64	11.78	12.94	15.46	4.48	31.95	2.96	2.86	-	2.62
Days Sales Outstanding (DSO)	1.58	0.46	0.42	1.88	2.40	0.72	0.94	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
Days Payable Outstanding (DPO)	36.57	100.36	30.99	28.22	23.62	81.51	11.43	123.41	127.80	-	139.33
Cash Conversion Cycle (CCC)	-34.99	-99.91	-30.57	-26.33	-21.21	-80.79	-10.48	-123.41	-127.80	-	-139.33
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	326	179	217	-568	-425	-469	303	-588	-522	-214	-315
Invested Capital Turnover	0.72	-4.09	-5.01	-1.14	-11.25	-3.52	1.58	-0.60	-0.71	-	-5.07
Increase / (Decrease) in Invested Capital	-687	604	659	-128	-751	-648	85	-20	-97	492	-491
Enterprise Value (EV)	0.00	0.00	1,165	2,169	3,367	4,275	2,614	5,560	6,085	-	5,708
Market Capitalization	0.00	0.00	629	1,653	3,063	3,924	2,129	5,084	5,479	-	4,717
Book Value per Share	($1.09)	($1.55)	($1.79)	($6.10)	($2.82)	($2.94)	($0.62)	($3.57)	($3.69)	($3.11)	($4.04)
Tangible Book Value per Share	($1.10)	($1.55)	($1.81)	($6.10)	($2.82)	($2.94)	($0.62)	($3.57)	($3.69)	($3.11)	($4.04)
Total Capital	426	249	332	-471	-172	368	1,002	-6.98	-69	98	750
Total Debt	845	846	650	613	558	1,188	1,183	1,058	1,059	1,060	2,056
Total Long-Term Debt	717	721	627	594	540	1,172	1,167	1,058	1,059	1,060	1,062
Net Debt	781	776	536	516	304	351	484	476	606	749	990
Capital Expenditures (CapEx)	2.87	12	32	3.14	31	29	88	121	244	273	387
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-114	-337	-86	-36	-35	-51	-45	-139	-62	-197	-1,278
Debt-free Net Working Capital (DFNWC)	-50	-267	29	61	219	786	654	442	391	114	-213
Net Working Capital (NWC)	-178	-391	5.18	43	201	769	638	442	391	114	-1,207
Net Nonoperating Expense (NNE)	33	198	-156	810	426	238	-623	918	106	-333	130
Net Nonoperating Obligations (NNO)	745	776	536	516	304	351	484	476	606	749	990
Total Depreciation and Amortization (D&A)	24	32	30	32	31	31	24	23	20	18	21
Debt-free, Cash-free Net Working Capital to Revenue	-23.57%	-67.03%	-15.27%	-6.20%	-6.18%	-10.04%	-10.91%	-39.98%	-18.63%	-	-360.38%
Debt-free Net Working Capital to Revenue	-10.30%	-53.15%	5.08%	10.67%	39.28%	153.85%	159.13%	126.86%	117.05%	-	-60.05%
Net Working Capital to Revenue	-36.94%	-77.91%	0.92%	7.48%	36.07%	150.66%	155.19%	126.86%	117.05%	-	-340.24%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.11)	($0.52)	$0.91	($4.51)	($1.17)	$0.38	$1.44	($0.04)	($0.46)	($1.82)	($1.06)
Adjusted Weighted Average Basic Shares Outstanding	382.48M	379.86M	230.95M	178.51M	292.49M	255.83M	315.19M	317.99M	318.56M	318.07M	322.91M
Adjusted Diluted Earnings per Share	($0.11)	($0.52)	$0.78	($4.51)	($1.17)	$0.51	$1.25	($0.04)	($0.46)	($1.63)	($1.06)
Adjusted Weighted Average Diluted Shares Outstanding	382.48M	379.86M	282.53M	178.51M	292.49M	255.83M	363.31M	317.99M	318.56M	318.07M	322.91M
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	386.02M	177.60M	177.78M	258.22M	279.25M	294.12M	297.82M	305.41M	310.06M	315.33M	317.89M
Normalized Net Operating Profit after Tax (NOPAT)	-7.97	6.49	59	4.42	-28	-28	-43	-15	-38	-117	-21
Normalized NOPAT Margin	-7.06%	4.58%	32.80%	3.13%	-29.89%	-29.40%	-53.54%	-19.69%	-47.03%	-	-18.10%
Pre Tax Income Margin	-36.34%	-137.64%	117.27%	-570.33%	-477.30%	-280.95%	730.46%	-1,191.23%	-180.68%	-	-300.74%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	-103.15	4,500.68	-6,582.14	-1,412.42	0.00	0.00	-680.06	0.00	-	0.00
NOPAT to Interest Expense	0.00	2.57	1,103.46	38.38	-91.02	0.00	0.00	-13.36	0.00	-	0.00
EBIT Less CapEx to Interest Expense	0.00	-114.02	3,862.80	-6,608.27	-1,510.76	0.00	0.00	-768.14	0.00	-	0.00
NOPAT Less CapEx to Interest Expense	0.00	-8.30	465.58	12.25	-189.36	0.00	0.00	-101.44	0.00	-	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%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%

Financials Breakdown Chart

Key Financial Trends

Here’s a concise, investor-focused snapshot of Core Scientific (CORZ) using the last four fiscal years of quarterly data (2022–2025). The stories that stand out are a mix of improving cash flow in late 2025 driven by one-time items, a heavy capex footprint, and persistent operating and balance-sheet challenges.

Positive: Q4 2025 net cash from continuing operating activities was about $153.1 million, signaling a strong quarterly cash generator relative to several prior periods.
Positive: Q4 2025 other income / (expense), net totaled about $335.0 million, providing a substantial one-time boost to net income.
Revenue trended down over the period, declining from around $141.9 million in some 2023 quarters to the mid-to-high $70s–$80s million in 2024–2025, indicating ongoing headwinds.
Net income in Q4 2025 was reported at about $214.2 million, largely due to non-operating items rather than core operating performance, so sustainability is unclear.
Cash balances fluctuated: Cash & equivalents were about $581.3 million in mid-2025, dipping to roughly $453.4 million by Q3 2025, implying liquidity volatility.
Operating income has been negative in most quarters of 2023–2025 (Q4 2025 operating income around -$119.3 million), highlighting ongoing operating losses.
Recent equity lines show a persistent deficit: Total equity is negative in several reports (for example, Total Common Equity around -$1.25 billion in Q3 2025), signaling a continuing equity shortfall.
Debt load remains high, with long-term debt typically near $1.06–$1.07 billion in recent periods, underscoring a substantial leverage burden.
Capital expenditures have been sizable, with PPE purchases around $245–$275 million in several quarters (e.g., Q4 2025 PPE of about $274.8 million; Q3 2025 about $244.5 million; Q4 2024 about $289.9 million).
Financing cash flows have tended to be negative in multiple quarters, reflecting net outflows from financing activity (for example, Q4 2025 net cash from financing activities around -$21.8 million).

05/27/26 05:00 PM ETAI Generated. May Contain Errors.

Core Scientific Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Core Scientific's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Core Scientific's net income appears to be on an upward trend, with a most recent value of -$288.62 million in 2025, rising from -$12.21 million in 2020. The previous period was -$1.44 billion in 2024. See Core Scientific's forecast for analyst expectations on what's next for the company.

Core Scientific's total operating income in 2025 was -$245.59 million, based on the following breakdown:

Total Gross Profit: $37.90 million
Total Operating Expenses: $283.49 million

Over the last 5 years, Core Scientific's total revenue changed from $54.19 million in 2020 to $319.02 million in 2025, a change of 488.7%.

Core Scientific's total liabilities were at $3.31 billion at the end of 2025, a 36.8% increase from 2024, and a 827,595,900.0% increase since 2020.

In the past 5 years, Core Scientific's cash and equivalents has ranged from $0.00 in 2020 to $836.20 million in 2024, and is currently $311.38 million as of their latest financial filing in 2025.

Over the last 5 years, Core Scientific's book value per share changed from 0.00 in 2020 to -3.11 in 2025, a change of -3,105,100.0%.

Related Companies

Financial statements for NASDAQ:CORZ last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Core Scientific (CORZ) Financials

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Core Scientific (CORZ) Financials

Annual Income Statements for Core Scientific

Quarterly Income Statements for Core Scientific

Annual Cash Flow Statements for Core Scientific

Quarterly Cash Flow Statements for Core Scientific

Annual Balance Sheets for Core Scientific

Quarterly Balance Sheets for Core Scientific

Annual Metrics And Ratios for Core Scientific

Quarterly Metrics And Ratios for Core Scientific

Financials Breakdown Chart

Key Financial Trends

Core Scientific Financials - Frequently Asked Questions

When does Core Scientific's fiscal year end?

How has Core Scientific's net income changed over the last 5 years?

What is Core Scientific's operating income?

How has Core Scientific's revenue changed over the last 5 years?

How much debt does Core Scientific have?

How much cash does Core Scientific have?

How has Core Scientific's book value per share changed over the last 5 years?

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