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Core Scientific (CORZW) Financials

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$12.30 -1.69 (-12.08%)
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Annual Income Statements for Core Scientific

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

Quarterly Income Statements for Core Scientific

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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -196 211 -902 -455 -266 576 -937 -144 214 -347 -1,155
Consolidated Net Income / (Loss)		 -196 211 -902 -455 -266 576 -937 -144 214 -347 -1,155
Net Income / (Loss) Continuing Operations		 -196 211 -902 -455 -266 576 -937 -144 214 -347 -1,155
Total Pre-Tax Income 		-195 211 -902 -455 -265 576 -937 -144 214 -347 -1,153
Total Operating Income		 3.93 55 -91 -41 -40 -47 -26 -55 -119 -310 -78
Total Gross Profit		 39 78 39 -0.16 4.76 8.21 5.03 3.91 21 30 70
Total Revenue		 142 180 141 95 94 80 79 81 80 115 164
Operating Revenue		 142 180 141 95 94 80 79 81 80 115 164
Total Cost of Revenue		 103 102 102 96 90 71 74 77 59 85 94
Operating Cost of Revenue		 103 102 102 96 90 71 74 77 59 85 94
Total Operating Expenses		 35 23 129 41 44 55 31 59 140 341 149
Selling, General & Admin Expense		 24 17 31 40 36 32 45 69 -7.19 45 49
Other Operating Expenses / (Income)		 0.03 2.22 1.12 0.21 0.26 23 12 -11 133 16 27
Impairment Charge		 1.54 - 97 0.00 - 0.00 0.00 0.00 - 266 0.00
Other Special Charges / (Income)		 3.80 3.82 -0.27 0.51 0.15 0.01 -26 0.30 2.58 14 72
Total Other Income / (Expense), net		 -199 156 -811 -414 -225 623 -910 -89 334 -36 -1,075
Interest Expense		 1.07 0.05 0.12 0.32 - - 1.38 0.00 0.56 - 5.44
Interest & Investment Income		 -84 -14 -15 -7.07 -1.14 2.19 1.19 0.82 -0.92 -4.86 -24
Other Income / (Expense), net		 -114 170 -796 -407 -224 621 -910 -90 335 -31 -1,046
Income Tax Expense		 0.34 0.21 0.14 0.13 0.38 0.21 0.16 0.13 0.10 0.60 1.91
Basic Earnings per Share		 ($0.52) $0.91 ($5.05) ($1.17) $0.38 $1.42 ($0.04) ($0.45) ($1.82) ($1.06) ($3.32)
Weighted Average Basic Shares Outstanding		 379.86M 230.95M 178.51M 292.49M 255.83M 315.19M 317.99M 318.56M 318.07M 322.91M 325.33M
Diluted Earnings per Share		 ($0.52) $0.78 ($5.05) ($1.17) $0.51 $1.24 ($0.04) ($0.45) ($1.63) ($1.06) ($3.32)
Weighted Average Diluted Shares Outstanding		 379.86M 282.53M 178.51M 292.49M 255.83M 363.31M 317.99M 318.56M 318.07M 322.91M 325.33M
Weighted Average Basic & Diluted Shares Outstanding		 177.60M 177.78M 258.22M 279.25M 294.12M 297.82M 305.41M 310.06M 315.33M 317.89M 321.34M

Annual Cash Flow Statements for Core Scientific

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

Quarterly Cash Flow Statements for Core Scientific

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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Change in Cash & Equivalents		 5.77 45 -17 157 583 -138 -117 -128 -142 835 1,405
Net Cash From Operating Activities		 22 22 1.20 5.71 14 -45 34 132 153 250 -19
Net Cash From Continuing Operating Activities		 22 22 1.20 5.71 14 -45 34 132 153 250 -19
Net Income / (Loss) Continuing Operations		 -196 211 -805 -455 -266 576 -937 -147 214 -347 -1,155
Consolidated Net Income / (Loss)		 -196 211 -805 -455 -266 576 -937 -147 214 -347 -1,155
Depreciation Expense		 31 29 29 29 26 20 19 16 14 17 15
Non-Cash Adjustments To Reconcile Net Income		 26 -199 807 431 225 -662 848 39 -269 513 1,084
Changes in Operating Assets and Liabilities, net		 159 -20 -33 -1.46 24 17 100 219 189 62 42
Net Cash From Investing Activities		 2.36 -32 -3.18 -31 -29 -89 -120 -254 -273 -387 -796
Net Cash From Continuing Investing Activities		 2.36 -32 -3.18 -31 -29 -89 -120 -254 -273 -387 -796
Purchase of Property, Plant & Equipment		 -12 -32 -3.14 -31 -29 -84 -121 -244 -275 -389 -798
Sale of Property, Plant & Equipment		 - - - - - 0.00 - 0.26 1.53 2.63 1.30
Net Cash From Financing Activities		 -18 54 -15 182 598 -4.20 -32 -5.32 -22 971 2,221
Net Cash From Continuing Financing Activities		 -18 54 -15 182 598 -4.20 -32 -5.32 -22 971 2,221
Repayment of Debt		 -22 -14 -11 -271 -15 -3.96 -32 -1.67 1.02 -0.88 -1,047
Issuance of Debt		 - 20 - 448 610 0.00 - - - 995 3,280
Other Financing Activities, net		 3.41 -6.94 -4.10 6.01 2.97 -0.24 -0.25 -3.65 -23 -23 -13

Annual Balance Sheets for Core Scientific

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
Intangible Assets		 - 8.20 1.70 - - 1.08
Other Noncurrent Operating Assets		 0.02 618 30 30 139 158
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
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

Quarterly Balance Sheets for Core Scientific

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 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Total Assets		 760 751 705 814 761 922 1,498 1,851 2,171 3,070 5,257
Total Current Assets		 100 111 135 143 118 278 833 1,005 1,061 1,455 2,444
Cash & Equivalents		 47 58 42 98 96 253 698 581 453 1,005 1,770
Restricted Cash		 22 19 22 16 0.98 0.78 0.78 0.00 0.00 60 166
Other Current Assets		 31 33 34 28 16 18 133 423 608 389 508
Plant, Property, & Equipment, net		 628 608 547 576 550 550 523 701 954 1,345 1,774
Total Noncurrent Assets		 32 32 23 95 94 94 142 145 156 270 1,040
Intangible Assets		 2.17 2.52 2.45 2.14 - - - - - - 229
Other Noncurrent Operating Assets		 30 29 21 93 94 94 142 145 156 270 811
Total Liabilities & Shareholders' Equity		 760 751 705 814 761 922 1,498 1,851 2,171 3,070 5,257
Total Liabilities		 1,169 1,143 1,124 1,132 1,845 1,651 1,807 3,043 3,424 4,375 7,677
Total Current Liabilities		 215 187 313 138 75 77 196 563 670 2,662 2,738
Accounts Payable		 50 54 46 16 8.49 6.50 6.33 215 212 219 112
Accrued Expenses		 59 41 56 68 29 32 95 181 358 364 509
Current Deferred Revenue		 70 64 63 9.25 7.91 9.94 61 150 84 220 287
Other Current Liabilities		 0.60 0.42 20 21 11 10 17 17 16 865 1,829
Total Noncurrent Liabilities		 954 956 812 994 1,771 1,575 1,611 2,480 2,754 1,713 4,939
Long-Term Debt		 - 0.05 680 557 527 475 1,072 1,058 1,059 1,062 4,298
Noncurrent Deferred Revenue		 - - - - - - - - - 435 367
Other Noncurrent Operating Liabilities		 953 955 95 368 1,176 1,035 445 1,422 1,695 217 274
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		 -409 -392 -419 -319 -1,084 -729 -309 -1,192 -1,253 -1,306 -2,419
Total Preferred & Common Equity		 -409 -392 -419 -319 -1,084 -729 -309 -1,192 -1,253 -1,306 -2,419
Preferred Stock		 - - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -409 -392 -419 -319 -1,084 -729 -309 -1,192 -1,253 -1,306 -2,419
Common Stock		 1,777 1,791 1,806 1,891 1,931 2,740 2,973 3,027 3,110 3,188 3,230
Retained Earnings		 -2,185 -2,183 -2,225 -2,210 -3,014 -3,470 -3,282 -4,219 -4,363 -4,494 -5,649

Annual Metrics And Ratios for Core Scientific

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		 - - - - - -

Quarterly Metrics And Ratios for Core Scientific

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
DEI Shares Outstanding		 - - - - - - - - 620,122,600.00 315,332,655.00 317,885,292.00
DEI Adjusted Shares Outstanding		 - - - - - - - - 620,122,600.00 315,332,655.00 317,885,292.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - 0.35 -1.10 -3.63
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 17.05% 49.05% 11.18% -15.54% -33.50% -55.64% -44.28% -14.95% - 44.92% 108.83%
EBITDA Growth		 78.38% 42,747.75% -6,645.19% -2,726.82% -196.78% 135.99% -20.50% 69.53% - -153.43% -20.81%
EBIT Growth		 74.57% 1,177.34% -8,516.31% -1,041.89% -139.23% 157.17% -18.56% 67.06% - -159.42% -20.04%
NOPAT Growth		 100.62% 936.81% -30.52% -242.24% -1,111.26% -177.18% -499.51% -39.32% - -362.12% -198.54%
Net Income Growth		 55.00% 54,401.80% -8,592.18% -1,006.45% -35.69% 175.61% -16.39% 67.79% - -160.25% -23.33%
EPS Growth		 50.94% 0.00% -22,450.00% -963.64% 198.08% 60.26% 99.11% 60.68% - -185.48% -8,200.00%
Operating Cash Flow Growth		 -81.29% 11.19% -93.32% 5.13% -36.39% -283.09% 2,723.92% 2,206.69% - 654.78% -155.67%
Free Cash Flow Firm Growth		 -129.28% -122.22% -92.92% 6.50% 203.21% 78.78% -98.72% -92.13% - 5,387.73% -653.23%
Invested Capital Growth		 142.17% 149.24% -29.02% -230.43% -361.96% 39.33% -3.54% -22.82% - -279.80% 92.05%
Revenue Q/Q Growth		 25.71% 26.71% -21.54% -32.42% -1.02% -15.74% -1.13% 3.15% - 44.48% 42.48%
EBITDA Q/Q Growth		 -433.62% 424.72% -396.69% 45.01% 43.98% 358.20% -251.50% 86.11% - -236.55% -246.73%
EBIT Q/Q Growth		 -181.47% 303.90% -450.99% 43.31% 41.03% 319.18% -261.82% 84.26% - -258.18% -229.44%
NOPAT Q/Q Growth		 132.66% 1,903.52% -91.65% -726.52% 3.48% -52.90% 56.79% -118.48% - -82.25% 74.72%
Net Income Q/Q Growth		 -375.61% 207.66% -482.03% 43.44% 41.67% 318.68% -261.32% 84.34% - -262.12% -232.76%
EPS Q/Q Growth		 -372.73% 250.00% -678.21% 74.06% 143.59% 145.10% -103.20% -1,050.00% - 34.97% -213.21%
Operating Cash Flow Q/Q Growth		 299.39% 2.17% -94.57% 374.50% 141.64% -394.09% 183.75% 287.59% - 63.25% -107.57%
Free Cash Flow Firm Q/Q Growth		 -188.57% -0.68% 121.94% 445.71% -14.16% -120.64% 101.32% 3,257.19% - 144.75% -360.80%
Invested Capital Q/Q Growth		 -45.09% 22.41% -361.48% 25.15% -10.28% 164.55% -294.31% 11.21% - -47.56% 81.97%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 27.69% 43.18% 27.51% -0.16% 5.05% 10.33% 6.39% 4.81% - 26.12% 42.66%
EBITDA Margin		 -55.43% 142.05% -537.15% -437.06% -247.38% 758.06% -1,161.59% -156.43% - -277.45% -675.17%
Operating Margin		 2.77% 30.71% 4.66% -43.23% -42.15% -53.56% -33.43% -70.81% - -269.36% -47.79%
EBIT Margin		 -77.76% 125.13% -559.78% -469.55% -279.75% 727.71% -1,190.99% -181.69% - -296.09% -684.61%
Profit (Net Income) Margin		 -137.88% 117.16% -570.44% -477.44% -281.35% 730.20% -1,191.43% -180.83% - -301.26% -703.60%
Tax Burden Percent		 100.17% 99.90% 100.02% 100.03% 100.14% 99.96% 100.02% 100.09% - 100.17% 100.17%
Interest Burden Percent		 177.01% 93.72% 101.89% 101.65% 100.43% 100.38% 100.02% 99.44% - 101.57% 102.60%
Effective Tax Rate		 0.00% 0.10% 0.00% 0.00% 0.00% 0.04% 0.00% 0.00% - 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% -84.61% 0.00% 0.00% - 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 37.59% 0.00% 0.00% - 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% -76.69% 0.00% 0.00% - 0.00% 0.00%
Return on Equity (ROE)		 48.99% 9.74% 112.58% 216.90% 185.59% -161.30% 100.24% 82.73% - 150.15% 79.23%
Cash Return on Invested Capital (CROIC)		 -333.65% -284.87% 0.00% 0.00% 0.00% -64.37% 0.00% 0.00% - 0.00% 0.00%
Operating Return on Assets (OROA)		 -51.41% 89.29% -426.24% -322.14% -123.64% 245.16% -302.96% -37.74% - -45.99% -84.81%
Return on Assets (ROA)		 -91.16% 83.60% -434.35% -327.55% -124.34% 246.00% -303.07% -37.56% - -46.79% -87.17%
Return on Common Equity (ROCE)		 48.99% 9.74% 112.58% 216.90% 185.59% -161.30% 100.24% 82.73% - 150.15% 79.23%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 11.12% 76.67% 170.71% 0.00% 520.64% 0.00% 0.00% - 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 2.75 55 4.61 -29 -28 -43 -18 -40 -119 -217 -55
NOPAT Margin		 1.94% 30.68% 3.26% -30.26% -29.51% -53.54% -23.40% -49.56% - -188.55% -33.45%
Net Nonoperating Expense Percent (NNEP)		 52.17% -61.81% 346.20% 81.31% 42.18% -122.20% 185.16% 23.41% - 17.62% 77.52%
Return On Investment Capital (ROIC_SIMPLE)		 1.11% - - - -7.57% -4.25% 263.59% 58.30% -122.18% -28.98% -2.92%
Cost of Revenue to Revenue		 72.31% 56.52% 72.49% 100.16% 95.53% 89.67% 93.61% 95.19% - 73.88% 57.34%
SG&A Expenses to Revenue		 17.08% 7.86% 18.60% 36.03% 37.83% 50.44% 72.42% 85.51% - 38.91% 30.08%
R&D to Revenue		 1.32% 1.00% 1.54% 2.98% 5.31% 0.00% 0.00% 0.00% - 0.00% 0.00%
Operating Expenses to Revenue		 24.92% 12.77% 22.85% 43.06% 46.62% 63.89% 39.82% 75.62% - 295.92% 90.45%
Earnings before Interest and Taxes (EBIT)		 -110 225 -790 -448 -264 579 -936 -147 216 -341 -1,124
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -79 255 -758 -417 -233 603 -913 -127 234 -320 -1,109
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 1.12 2.87 5.49 7.68 5.18 14.59 16.40 - 13.30 18.47
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 5.36 0.00 0.00 0.00 8.63 0.00 0.00 - 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 2.07 3.77 6.03 8.37 6.36 15.96 18.21 - 16.09 23.84
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 6.71 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 17.57 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 29.40 57.71 196.14 0.00 0.00 0.00 0.00 - 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 17.29 42.94 66.28 99.65 0.00 430.39 43.78 - 9.96 20.18
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 13.11 4.38 6.74 0.00 0.00 0.00 - 42.38 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 -1.42 -2.04 -0.57 -0.76 -1.45 -6.52 -0.99 -0.94 - -1.57 -1.78
Long-Term Debt to Equity		 -1.21 -1.97 -0.55 -0.74 -1.43 -6.43 -0.99 -0.94 - -0.81 -1.78
Financial Leverage		 -0.76 -0.69 -0.32 -0.91 -0.80 -2.04 -0.46 -0.49 - -0.91 -0.79
Leverage Ratio		 -1.51 -2.16 -1.02 -1.42 -1.63 -4.88 -1.28 -1.73 - -2.83 -1.97
Compound Leverage Factor		 -2.67 -2.03 -1.04 -1.44 -1.64 -4.90 -1.28 -1.72 - -2.87 -2.02
Debt to Total Capital		 339.97% 196.06% -130.06% -325.26% 322.91% 118.12% -15,153.24% -1,535.84% - 274.11% 228.78%
Short-Term Debt to Total Capital		 49.99% 7.04% -3.90% -10.46% 4.43% 1.62% 0.00% 0.00% - 132.54% 0.00%
Long-Term Debt to Total Capital		 289.98% 189.02% -126.16% -314.80% 318.48% 116.50% -15,153.24% -1,535.84% - 141.57% 228.78%
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		 -239.97% -96.06% 230.06% 425.26% -222.91% -18.12% 15,253.24% 1,635.84% - -174.11% -128.78%
Debt to EBITDA		 -10.26 3.74 -1.03 -0.56 -1.03 -1.47 -1.10 -1.58 - -1.83 -3.23
Net Debt to EBITDA		 -9.41 3.09 -0.87 -0.30 -0.30 -0.60 -0.50 -0.90 - -0.88 -1.78
Long-Term Debt to EBITDA		 -8.75 3.61 -1.00 -0.54 -1.02 -1.45 -1.10 -1.58 - -0.95 -3.23
Debt to NOPAT		 134.82 16.41 16.30 32.50 -88.42 -14.44 -10.08 -9.11 - -5.77 -10.94
Net Debt to NOPAT		 123.71 13.53 13.72 17.72 -26.13 -5.91 -4.54 -5.21 - -2.78 -6.01
Long-Term Debt to NOPAT		 115.00 15.82 15.81 31.46 -87.21 -14.24 -10.08 -9.11 - -2.98 -10.94
Altman Z-Score		 0.00 -1.86 -7.60 -4.89 -1.95 -0.11 -3.01 -1.49 - -2.13 -1.56
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		 0.20 1.04 1.58 3.63 6.72 4.26 1.79 1.58 - 0.55 0.89
Quick Ratio		 0.11 0.72 1.35 3.39 6.22 3.58 1.03 0.68 - 0.38 0.65
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -601 -603 132 723 620 -128 1.69 57 -611 274 -714
Operating Cash Flow to CapEx		 186.48% 69.52% 38.41% 18.33% 47.62% -45.90% 28.03% 53.96% - 64.64% -2.38%
Free Cash Flow to Firm to Interest Expense		 -561.60 -12,069.80 1,103.41 2,279.39 0.00 0.00 1.23 0.00 - 0.00 -131.31
Operating Cash Flow to Interest Expense		 20.28 443.48 10.03 18.02 0.00 0.00 24.69 0.00 - 0.00 -3.48
Operating Cash Flow Less CapEx to Interest Expense		 9.41 -194.40 -16.09 -80.32 0.00 0.00 -63.38 0.00 - 0.00 -149.98
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.66 0.71 0.76 0.69 0.44 0.34 0.25 0.21 - 0.16 0.12
Accounts Receivable Turnover		 798.73 876.10 194.02 151.83 504.12 386.74 0.00 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		 0.79 0.93 0.99 1.02 0.89 0.67 0.00 0.41 - 0.38 0.36
Accounts Payable Turnover		 3.64 11.78 12.94 15.46 4.48 31.95 2.96 2.86 - 2.62 1.93
Days Sales Outstanding (DSO)		 0.46 0.42 1.88 2.40 0.72 0.94 0.00 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
Days Payable Outstanding (DPO)		 100.36 30.99 28.22 23.62 81.51 11.43 123.41 127.80 - 139.33 189.40
Cash Conversion Cycle (CCC)		 -99.91 -30.57 -26.33 -21.21 -80.79 -10.48 -123.41 -127.80 - -139.33 -189.40
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 179 217 -568 -425 -469 303 -588 -522 -214 -315 -57
Invested Capital Turnover		 -4.09 -5.01 -1.14 -11.25 -3.52 1.58 -0.60 -0.71 - -5.07 -1.14
Increase / (Decrease) in Invested Capital		 604 659 -128 -751 -648 85 -20 -97 492 -491 659
Enterprise Value (EV)		 0.00 1,165 2,169 3,367 4,275 2,614 5,560 6,085 - 5,708 10,497
Market Capitalization		 0.00 629 1,653 3,063 3,924 2,129 5,084 5,479 - 4,717 8,135
Book Value per Share		 ($1.55) ($1.79) ($6.10) ($2.82) ($2.94) ($0.62) ($3.57) ($3.69) ($3.11) ($4.04) ($7.61)
Tangible Book Value per Share		 ($1.55) ($1.81) ($6.10) ($2.82) ($2.94) ($0.62) ($3.57) ($3.69) ($3.11) ($4.04) ($8.33)
Total Capital		 249 332 -471 -172 368 1,002 -6.98 -69 98 750 1,879
Total Debt		 846 650 613 558 1,188 1,183 1,058 1,059 1,060 2,056 4,298
Total Long-Term Debt		 721 627 594 540 1,172 1,167 1,058 1,059 1,060 1,062 4,298
Net Debt		 776 536 516 304 351 484 476 606 749 990 2,362
Capital Expenditures (CapEx)		 12 32 3.14 31 29 88 121 244 273 387 796
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -337 -86 -36 -35 -51 -45 -139 -62 -197 -1,278 -2,230
Debt-free Net Working Capital (DFNWC)		 -267 29 61 219 786 654 442 391 114 -213 -294
Net Working Capital (NWC)		 -391 5.18 43 201 769 638 442 391 114 -1,207 -294
Net Nonoperating Expense (NNE)		 198 -156 810 426 238 -623 918 106 -333 130 1,100
Net Nonoperating Obligations (NNO)		 776 536 516 304 351 484 476 606 749 990 2,362
Total Depreciation and Amortization (D&A)		 32 30 32 31 31 24 23 20 18 21 15
Debt-free, Cash-free Net Working Capital to Revenue		 -67.03% -15.27% -6.20% -6.18% -10.04% -10.91% -39.98% -18.63% - -360.38% -506.38%
Debt-free Net Working Capital to Revenue		 -53.15% 5.08% 10.67% 39.28% 153.85% 159.13% 126.86% 117.05% - -60.05% -66.81%
Net Working Capital to Revenue		 -77.91% 0.92% 7.48% 36.07% 150.66% 155.19% 126.86% 117.05% - -340.24% -66.81%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.52) $0.91 ($4.51) ($1.17) $0.38 $1.44 ($0.04) ($0.46) ($1.82) ($1.06) ($3.32)
Adjusted Weighted Average Basic Shares Outstanding		 379.86M 230.95M 178.51M 292.49M 255.83M 315.19M 317.99M 318.56M 318.07M 322.91M 325.33M
Adjusted Diluted Earnings per Share		 ($0.52) $0.78 ($4.51) ($1.17) $0.51 $1.25 ($0.04) ($0.46) ($1.63) ($1.06) ($3.32)
Adjusted Weighted Average Diluted Shares Outstanding		 379.86M 282.53M 178.51M 292.49M 255.83M 363.31M 317.99M 318.56M 318.07M 322.91M 325.33M
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		 177.60M 177.78M 258.22M 279.25M 294.12M 297.82M 305.41M 310.06M 315.33M 317.89M 321.34M
Normalized Net Operating Profit after Tax (NOPAT)		 6.49 59 4.42 -28 -28 -43 -15 -38 -117 -21 -4.47
Normalized NOPAT Margin		 4.58% 32.80% 3.13% -29.89% -29.40% -53.54% -19.69% -47.03% - -18.10% -2.72%
Pre Tax Income Margin		 -137.64% 117.27% -570.33% -477.30% -280.95% 730.46% -1,191.23% -180.68% - -300.74% -702.43%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -103.15 4,500.68 -6,582.14 -1,412.42 0.00 0.00 -680.06 0.00 - 0.00 -206.83
NOPAT to Interest Expense		 2.57 1,103.46 38.38 -91.02 0.00 0.00 -13.36 0.00 - 0.00 -10.11
EBIT Less CapEx to Interest Expense		 -114.02 3,862.80 -6,608.27 -1,510.76 0.00 0.00 -768.14 0.00 - 0.00 -353.33
NOPAT Less CapEx to Interest Expense		 -8.30 465.58 12.25 -189.36 0.00 0.00 -101.44 0.00 - 0.00 -156.60
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

Core Scientific’s latest quarter shows a company with meaningful liquidity, improving near-term operating cash generation, but still carrying a heavy debt load and recurring losses. The biggest takeaway is that Q1 2026 looks much stronger on the cash flow statement than the income statement. Core Scientific generated solid operating cash flow, added significant cash on hand, and continued to invest in infrastructure. At the same time, profitability remains deeply negative, and the balance sheet still reflects more liabilities than equity.

  • Cash & equivalents rose to $1.01 billion in Q1 2026 from $453 million in Q3 2025, giving the company a much larger liquidity cushion.
  • Net cash from operating activities was $249.9 million in Q1 2026, a strong improvement from $153.1 million in Q4 2025.
  • Revenue increased to $115.2 million in Q1 2026 from $79.8 million in Q4 2025, showing a meaningful sequential rebound.
  • Gross profit improved to $30.1 million in Q1 2026, compared with $20.8 million in Q4 2025.
  • The company ended Q1 2026 with $3.07 billion in total assets, up sharply from $2.17 billion in Q3 2025, reflecting a bigger asset base and higher cash.
  • Core Scientific has shown it can generate cash from operations even while posting accounting losses, which is important for a capital-intensive business.
  • Quarterly revenue has been volatile over the last several years, swinging from $179.8 million in Q1 2024 to $79.5 million in Q1 2025, then back to $115.2 million in Q1 2026.
  • The company continues to spend heavily on property, plant, and equipment, with $389.2 million of capex in Q1 2026, suggesting ongoing infrastructure buildout.
  • Weighted average shares outstanding remain high at about 322.9 million, so per-share results may stay pressured if profitability does not improve.
  • Core Scientific posted a $347.2 million net loss in Q1 2026, versus a $214.2 million net profit in Q4 2025.
  • The company reported negative total common equity of $1.31 billion, which means liabilities still exceed assets on an accounting basis.
  • Total liabilities were $4.38 billion, including $2.06 billion of total debt, leaving leverage a major concern.
  • Q1 2026 operating expenses were elevated at $341.0 million, including a large $266.5 million impairment charge.
  • Operating income was a loss of $310.4 million in Q1 2026, showing the core business is still far from consistent profitability.

Longer-term trend: Core Scientific has moved from the very distressed balance sheet and heavy losses seen in 2022–2023 toward a more liquid position, and 2024 brought periods of positive operating performance. But the business remains highly cyclical and capital-intensive, and the latest quarter shows that big non-cash charges can still overwhelm reported earnings. For retail investors, the story here is less about stable earnings and more about whether the company can keep generating operating cash while managing debt and funding expansion.

Bottom line: The latest quarter is encouraging on liquidity and operating cash flow, but not yet on profitability or balance-sheet health. Investors should watch whether revenue growth continues and whether the company can reduce impairment-driven volatility while steadily improving margins.

07/29/26 11:28 AM 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 fiscal year ends in December. Their fiscal 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.

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%.


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Financial statements for NASDAQ:CORZW last updated on 7/28/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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