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Riot Platforms (RIOT) Financials

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$9.94 +0.28 (+2.90%)
Closing price 06/18/2025 04:00 PM Eastern
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$9.97 +0.03 (+0.30%)
As of 06/18/2025 07:59 PM Eastern
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Annual Income Statements for Riot Platforms

Annual Income Statements for Riot Platforms

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 -8.76 -4.27 -20 -58 -20 -14 -15 -510 -49 109
Consolidated Net Income / (Loss)		 -8.76 -4.27 -20 -60 -20 -14 -15 -510 -49 109
Net Income / (Loss) Continuing Operations		 -8.76 -3.16 -16 -60 -20 -14 -15 -510 -49 109
Total Pre-Tax Income 		-8.76 -3.16 -18 -61 -20 -14 -15 -521 -55 110
Total Operating Income		 -8.75 -5.19 -13 -59 -9.42 -16 -30 -513 -63 154
Total Gross Profit		 0.17 0.10 0.24 2.03 0.74 5.83 131 65 26 114
Total Revenue		 0.20 0.10 0.27 7.85 6.84 12 213 259 281 377
Operating Revenue		 0.20 0.00 0.27 7.85 6.84 12 213 259 281 377
Total Cost of Revenue		 0.03 0.00 0.03 5.82 6.10 6.25 82 194 254 263
Operating Cost of Revenue		 0.03 0.00 0.03 5.82 6.10 6.25 82 194 254 263
Total Operating Expenses		 8.92 5.29 13 61 10 21 161 578 89 -40
Selling, General & Admin Expense		 6.76 4.41 7.31 21 9.16 10 87 67 100 267
Depreciation Expense		 - 0.63 0.89 5.27 0.12 4.49 26 108 252 212
Other Operating Expenses / (Income)		 - 0.00 - 0.00 0.00 0.00 -18 -89 -269 -542
Impairment Charge		 - 0.00 5.22 35 1.54 13 44 539 0.00 0.00
Restructuring Charge		 - - - - 0.00 0.00 21 0.08 0.00 5.54
Other Special Charges / (Income)		 0.00 - - - -0.67 -6.38 -0.25 -47 5.34 17
Total Other Income / (Expense), net		 -0.01 2.03 -4.71 -1.64 -11 1.44 15 -8.60 8.48 -43
Other Income / (Expense), net		 0.01 1.94 -0.00 -1.59 -12 1.44 15 -8.60 8.48 -43
Income Tax Expense		 - 0.00 -1.61 -0.70 -0.14 0.00 0.25 -12 -5.09 0.74
Basic Earnings per Share		 ($2.26) ($1.05) ($3.30) ($4.33) - ($0.34) ($0.17) ($3.65) ($0.28) $0.40
Weighted Average Basic Shares Outstanding		 3.88M 4.07M 6.02M 13.40M 19.60M 41.98M 93.45M 139.43M 175.03M 275.98M
Diluted Earnings per Share		 ($2.26) ($1.05) ($3.30) ($4.33) - ($0.33) ($0.17) ($3.65) ($0.28) $0.34
Weighted Average Diluted Shares Outstanding		 3.88M 4.07M 6.02M 13.40M 19.60M 41.98M 93.45M 139.43M 175.03M 318.93M
Weighted Average Basic & Diluted Shares Outstanding		 3.88M 4.07M 6.02M 13.40M 19.60M 41.98M 93.45M 166.98M 253.54M 350.21M

Quarterly Income Statements for Riot Platforms

This table shows Riot Platforms' 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 Q1 2025
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 3/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -32 -160 19 -27 -80 39 212 -84 -154 136 -296
Consolidated Net Income / (Loss)		 -32 -160 19 -27 -80 39 212 -84 -154 136 -296
Net Income / (Loss) Continuing Operations		 -32 -160 19 -27 -80 39 212 -84 -154 136 -296
Total Pre-Tax Income 		-35 -163 14 -27 -80 39 212 -84 -154 137 -296
Total Operating Income		 -36 -162 17 -32 -83 34 204 -117 -122 188 -234
Total Gross Profit		 3.61 3.11 10 13 -12 15 32 16 12 53 66
Total Revenue		 46 60 73 77 52 79 79 70 85 143 161
Operating Revenue		 46 60 73 77 52 79 79 70 85 143 161
Total Cost of Revenue		 43 57 63 64 64 63 47 54 73 89 96
Operating Cost of Revenue		 43 57 63 64 64 63 47 54 73 89 96
Total Operating Expenses		 39 166 -7.26 45 71 -19 -172 133 133 -135 300
Selling, General & Admin Expense		 16 30 13 20 29 39 58 61 67 81 71
Depreciation Expense		 27 47 59 66 65 62 32 37 60 82 78
Other Operating Expenses / (Income)		 1.57 37 -79 -41 -28 -120 -262 35 3.35 -318 150
Restructuring Charge		 0.00 - - - 0.00 - - - 3.08 - 0.08
Other Special Charges / (Income)		 -7.67 -21 - 0.03 5.31 - - 0.07 0.00 - 0.13
Total Other Income / (Expense), net		 0.49 -0.60 -3.83 4.91 2.35 5.06 7.81 33 -33 -51 -62
Other Income / (Expense), net		 0.49 -2.23 -3.83 4.91 2.35 5.06 7.81 33 -33 -51 -62
Income Tax Expense		 -2.95 -2.91 -4.97 0.11 -0.16 -0.08 -0.02 0.06 0.03 0.68 0.44
Basic Earnings per Share		 ($0.21) ($1.04) $0.11 ($0.16) ($0.44) $0.21 $0.82 ($0.32) ($0.54) $0.44 ($0.90)
Weighted Average Basic Shares Outstanding		 153.90M 139.43M 167.34M 167.34M 180.95M 175.03M 259.51M 264.63M 286.24M 275.98M 329.51M
Diluted Earnings per Share		 ($0.21) ($1.04) $0.11 ($0.16) ($0.44) $0.21 $0.81 ($0.32) ($0.54) $0.39 ($0.90)
Weighted Average Diluted Shares Outstanding		 153.90M 139.43M 172.11M 167.34M 180.95M 175.03M 262.36M 264.63M 286.24M 318.93M 329.51M
Weighted Average Basic & Diluted Shares Outstanding		 167.30M 166.98M 175.08M 185.31M 206.52M 253.54M 288.78M 303.52M 332.33M 350.21M 357.26M

Annual Cash Flow Statements for Riot Platforms

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -1.53 3.52 36 -41 7.22 216 89 -82 367 -246
Net Cash From Operating Activities		 -6.87 -5.52 -4.44 -19 -15 -2.85 -86 0.53 33 -255
Net Cash From Continuing Operating Activities		 -6.87 -4.45 -3.52 -19 -15 -2.85 -86 0.53 33 -255
Net Income / (Loss) Continuing Operations		 -8.76 -3.16 -16 -60 -20 -14 -15 -510 -49 109
Consolidated Net Income / (Loss)		 -8.76 -4.27 -20 -60 -20 -14 -15 -510 -49 109
Depreciation Expense		 0.25 0.09 0.89 5.27 0.12 4.49 26 108 252 212
Amortization Expense		 - 0.00 4.75 0.00 2.20 0.27 -0.10 -0.10 -0.10 0.15
Non-Cash Adjustments To Reconcile Net Income		 1.32 -0.86 8.96 33 9.54 5.14 -95 399 -163 -596
Changes in Operating Assets and Liabilities, net		 0.31 -0.52 -1.70 3.02 -6.97 1.36 -1.67 3.64 -7.01 19
Net Cash From Investing Activities		 5.79 9.35 5.58 -25 -3.25 -41 -491 -355 -415 -1,509
Net Cash From Continuing Investing Activities		 5.79 9.37 5.57 -25 -3.25 -41 -491 -355 -415 -1,509
Purchase of Property, Plant & Equipment		 0.00 - 0.00 -21 -4.96 -8.14 -147 -152 -194 -244
Acquisitions		 -0.09 -0.03 -0.06 -0.58 -0.04 0.00 -70 -9.53 -0.03 -636
Purchase of Investments		 -27 -17 -3.20 -6.41 - - 0.00 0.00 -4.50 -204
Sale of Property, Plant & Equipment		 0.01 1.81 - - 0.00 0.15 0.00 0.00 6.37 14
Sale and/or Maturity of Investments		 33 24 7.51 - 0.00 0.00 1.80 1.81 0.00 0.00
Other Investing Activities, net		 - - 0.00 -6.33 -1.45 -33 -275 -195 -223 -439
Net Cash From Financing Activities		 -0.45 -0.31 35 2.49 26 260 666 272 749 1,518
Net Cash From Continuing Financing Activities		 -0.45 -0.31 35 2.49 26 260 666 272 749 1,518
Repayment of Debt		 -0.45 -0.31 -0.27 -0.14 -0.95 - 0.00 0.00 -6.14 -21
Repurchase of Common Equity		 - 0.00 -0.39 0.00 0.00 -0.45 -5.08 -17 -31 -32
Issuance of Debt		 - 0.00 4.75 1.77 3.00 - 0.00 0.00 6.92 594
Issuance of Common Equity		 0.00 0.00 38 0.73 24 257 670 305 778 977
Other Financing Activities, net		 - 0.00 2.01 0.43 0.00 2.90 0.81 -16 0.00 0.00
Cash Interest Paid		 0.10 0.04 0.01 0.01 0.00 - 0.00 0.00 0.08 0.05
Cash Income Taxes Paid		 - - 0.00 0.00 0.00 - 0.00 0.00 0.68 0.11

Quarterly Cash Flow Statements for Riot Platforms

This table details how cash moves in and out of Riot Platforms' 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 Q1 2025
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 3/31/2025
Net Change in Cash & Equivalents		 -16 -24 -43 101 0.93 307 91 -207 -53 -77 -113
Net Cash From Operating Activities		 13 1.49 32 -38 -6.17 45 -58 -43 -56 -98 -122
Net Cash From Continuing Operating Activities		 13 1.49 32 -38 -6.17 45 -58 -43 -56 -98 -122
Net Income / (Loss) Continuing Operations		 -32 -160 19 -27 -80 39 212 -84 -154 136 -296
Consolidated Net Income / (Loss)		 -32 -160 19 -27 -80 39 212 -84 -154 136 -296
Depreciation Expense		 27 47 59 66 65 62 32 37 60 82 78
Amortization Expense		 -0.03 -0.02 0.56 -0.61 -0.03 -0.02 -0.02 -0.02 -0.03 0.23 0.73
Non-Cash Adjustments To Reconcile Net Income		 13 119 -82 -14 25 -92 -283 1.76 18 -332 117
Changes in Operating Assets and Liabilities, net		 6.53 -4.29 36 -63 -15 35 -19 2.87 20 15 -22
Net Cash From Investing Activities		 -59 -25 -74 -33 -125 -182 -194 -326 -205 -783 -59
Net Cash From Continuing Investing Activities		 -59 -25 -74 -33 -125 -182 -194 -326 -205 -783 -59
Purchase of Property, Plant & Equipment		 -57 -17 -74 -33 -41 -45 -57 -54 -76 -58 -33
Other Investing Activities, net		 -2.44 - 0.00 - -91 -132 -137 -139 -52 -111 -26
Net Cash From Financing Activities		 30 -0.45 -0.93 173 132 444 344 161 209 804 68
Net Cash From Continuing Financing Activities		 30 -0.45 -0.93 173 132 444 344 161 209 804 68
Repayment of Debt		 - - -0.50 - -3.11 -2.52 -0.07 -0.07 -5.06 -16 -0.06
Repurchase of Common Equity		 -1.06 -6.91 -1.31 -15 2.80 -17 -2.00 -8.77 -0.71 -20 -0.48
Issuance of Common Equity		 31 6.46 0.00 188 129 461 346 170 215 246 68
Cash Interest Paid		 - - 0.00 0.02 0.02 0.05 0.01 0.01 0.01 0.01 0.00
Cash Income Taxes Paid		 - - - - - - - - - 0.11 0.03

Annual Balance Sheets for Riot Platforms

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 21 17 52 14 30 280 1,522 1,320 2,051 3,935
Total Current Assets		 16 14 42 2.31 13 236 565 443 1,009 599
Cash & Equivalents		 2.01 5.53 42 0.23 7.44 223 312 230 597 278
Restricted Cash		 - - - - - - - - 0.00 73
Short-Term Investments		 14 7.51 - - - 0.00 11 - 0.00 134
Note & Lease Receivable		 - - - - - - - - - 0.00
Accounts Receivable		 0.00 - - - - 0.00 15 27 25 27
Prepaid Expenses		 0.25 0.22 0.54 1.38 1.35 1.26 7.14 33 29 40
Other Current Assets		 - 0.00 0.20 0.71 3.84 0.00 219 153 358 46
Plant, Property, & Equipment, net		 1.95 0.01 4.29 0.03 5.05 10 276 693 704 1,339
Total Noncurrent Assets		 2.50 3.29 5.65 12 13 34 681 184 338 1,997
Long-Term Investments		 0.97 0.00 3.00 9.41 9.72 0.31 0.31 0.31 13 19
Goodwill		 - 0.39 1.19 - - 0.00 336 - 0.00 122
Intangible Assets		 0.00 0.55 1.26 1.21 0.46 0.34 14 21 16 34
Other Noncurrent Operating Assets		 1.52 - 0.00 0.70 2.52 33 331 162 309 1,822
Total Liabilities & Shareholders' Equity		 21 17 52 14 30 280 1,522 1,320 2,051 3,935
Total Liabilities		 4.79 2.12 2.71 9.37 4.15 3.08 174 169 163 792
Total Current Liabilities		 1.79 1.06 1.04 6.66 3.37 2.40 110 122 121 160
Short-Term Debt		 0.30 0.14 0.14 - - - - - 0.26 0.31
Accounts Payable		 0.70 0.25 0.41 3.83 0.72 0.72 20 18 23 18
Accrued Expenses		 0.24 0.31 0.22 1.53 2.19 1.58 22 65 62 76
Current Deferred Revenue		 0.10 0.10 0.10 1.30 0.10 0.10 2.84 2.88 2.46 2.89
Other Current Liabilities		 - - 0.00 0.00 0.37 0.00 65 35 33 64
Total Noncurrent Liabilities		 3.00 1.07 1.67 2.71 0.78 0.68 64 47 42 631
Long-Term Debt		 1.84 - 0.00 1.70 - - - - 0.53 584
Noncurrent Deferred Revenue		 1.16 1.07 0.97 0.87 0.78 0.68 20 18 16 14
Other Noncurrent Operating Liabilities		 - - - - - 0.00 44 29 26 33
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 16 15 50 4.49 26 277 1,348 1,151 1,888 3,144
Total Preferred & Common Equity		 16 15 49 5.79 26 277 1,348 1,151 1,888 3,144
Total Common Equity		 16 15 41 5.72 26 277 1,348 1,151 1,888 3,144
Common Stock		 122 125 180 203 243 507 1,595 1,908 2,688 3,834
Retained Earnings		 -106 -110 -139 -197 -217 -230 -247 -756 -800 -690
Accumulated Other Comprehensive Income / (Loss)		 - - - - - - - 0.00 0.15 0.22
Other Equity Adjustments		 - 0.00 0.00 0.00 0.00 - - - 0.00 0.00

Quarterly Balance Sheets for Riot Platforms

This table presents Riot Platforms' 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
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
Total Assets		 1,454 1,250 1,359 1,455 2,611 2,724 2,922 3,719
Total Current Assets		 477 366 483 513 785 744 717 450
Cash & Equivalents		 255 158 289 290 688 481 356 164
Restricted Cash		 - 29 - - - - 73 74
Short-Term Investments		 2.17 - - - - 158 190 71
Accounts Receivable		 17 20 13 13 14 14 15 20
Prepaid Expenses		 22 22 20 36 34 31 31 45
Other Current Assets		 180 136 160 175 49 61 52 76
Plant, Property, & Equipment, net		 650 717 700 668 822 1,040 1,173 1,307
Total Noncurrent Assets		 327 167 177 274 1,004 940 1,032 1,962
Long-Term Investments		 0.31 0.92 0.82 5.62 12 13 13 19
Goodwill		 0.00 - - - - - 97 122
Intangible Assets		 13 20 19 17 14 13 11 33
Other Noncurrent Operating Assets		 313 146 157 251 978 914 911 1,788
Total Liabilities & Shareholders' Equity		 1,454 1,250 1,359 1,455 2,611 2,724 2,922 3,719
Total Liabilities		 154 158 118 115 136 139 173 774
Total Current Liabilities		 107 112 74 71 93 97 126 139
Short-Term Debt		 - - - - - - 0.66 0.31
Accounts Payable		 13 20 13 8.90 14 5.09 13 7.94
Accrued Expenses		 39 83 27 25 44 54 45 72
Current Deferred Revenue		 2.56 2.78 5.79 2.56 2.46 2.46 2.52 2.68
Other Current Liabilities		 53 6.94 29 34 33 35 65 56
Total Noncurrent Liabilities		 47 46 44 44 43 42 47 635
Long-Term Debt		 - - - - - - 5.60 585
Noncurrent Deferred Revenue		 18 17 17 16 15 15 14 13
Other Noncurrent Operating Liabilities		 29 29 27 27 28 27 27 37
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,299 1,092 1,241 1,341 2,475 2,585 2,749 2,945
Total Preferred & Common Equity		 1,299 1,092 1,241 1,341 2,475 2,585 2,749 2,945
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 1,299 1,092 1,241 1,341 2,475 2,585 2,749 2,945
Common Stock		 1,891 1,904 2,081 2,226 3,063 3,257 3,576 3,931
Retained Earnings		 -592 -812 -840 -885 -588 -672 -827 -987
Accumulated Other Comprehensive Income / (Loss)		 - - - - 0.01 -0.02 0.19 0.25
Other Equity Adjustments		 0.00 - - - 0.00 0.00 0.00 0.00

Annual Metrics And Ratios for Riot Platforms

This table displays calculated financial ratios and metrics derived from Riot Platforms' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 18.65% -51.18% 178.86% 2,809.25% -12.85% 76.70% 1,665.11% 21.54% 8.30% 34.20%
EBITDA Growth		 16.60% 62.81% -138.22% -640.68% 65.62% 51.19% 218.21% -3,843.65% 147.82% 63.06%
EBIT Growth		 15.70% 62.82% -304.98% -363.21% 64.79% 34.27% -7.63% -3,333.46% 89.53% 301.86%
NOPAT Growth		 15.90% 40.65% -153.34% -351.30% 84.14% -65.06% -92.16% -1,616.44% 87.70% 445.67%
Net Income Growth		 16.14% 51.21% -367.39% -201.50% 66.28% 30.52% -9.43% -3,200.86% 90.29% 321.14%
EPS Growth		 16.14% 53.54% -214.29% -31.21% 0.00% 0.00% 48.48% -2,047.06% 92.33% 221.43%
Operating Cash Flow Growth		 25.37% 19.64% 19.56% -329.09% 19.09% 81.52% -2,921.48% 100.62% 6,142.45% -870.90%
Free Cash Flow Firm Growth		 24.61% 65.23% -653.77% -117.90% 41.75% -188.72% -1,698.35% 74.33% -57.74% -346.12%
Invested Capital Growth		 -26.01% -151.79% 1,047.66% -165.21% 362.88% 488.39% 1,820.12% -10.16% 38.85% 152.15%
Revenue Q/Q Growth		 -10.03% -8.07% 178.86% 24.88% -7.57% 51.20% 67.06% -10.60% 7.12% 20.37%
EBITDA Q/Q Growth		 -7.56% 52.02% -1,148.73% -1.01% 27.20% 43.71% -69.39% -30.77% 1,615.46% 57.82%
EBIT Q/Q Growth		 -7.23% 51.58% -220.32% 1.13% 22.44% 30.08% -211.01% -36.11% 78.14% 788.70%
NOPAT Q/Q Growth		 -7.33% 22.63% -219.45% 1.46% 41.41% 27.44% -2,135.93% -35.56% 75.73% 50,225.14%
Net Income Q/Q Growth		 -7.15% 13.55% -50.69% -6.52% 31.29% 29.55% -210.26% -35.38% 80.14% 781.70%
EPS Q/Q Growth		 -7.15% 15.32% -34.69% -10.74% 0.00% 0.00% 0.00% 0.00% 81.70% 112.50%
Operating Cash Flow Q/Q Growth		 4.14% -0.48% 8.31% -10.50% 3.77% 74.80% -56.80% 102.03% 416.42% -128.42%
Free Cash Flow Firm Q/Q Growth		 8.34% 59.05% -7,374.48% 31.56% -110.89% -31.57% -48.76% 58.11% -117.31% -66.06%
Invested Capital Q/Q Growth		 -51.71% -123.14% 2,078.67% -162.65% 173.12% 76.33% 46.74% -11.62% 22.35% 51.76%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 84.56% 100.00% 90.66% 25.81% 10.82% 48.26% 61.50% 25.26% 9.39% 30.24%
EBITDA Margin		 -4,284.39% -3,263.81% -2,788.16% -709.85% -279.99% -77.34% 5.18% -159.53% 70.43% 85.58%
Operating Margin		 -4,416.62% -5,369.62% -4,878.23% -756.74% -137.74% -128.66% -14.01% -197.82% -22.46% 40.78%
EBIT Margin		 -4,412.53% -3,360.31% -4,880.04% -776.99% -313.92% -116.77% -7.12% -201.14% -19.44% 29.24%
Profit (Net Income) Margin		 -4,421.09% -4,418.70% -7,406.05% -767.53% -296.96% -116.77% -7.24% -196.61% -17.63% 29.05%
Tax Burden Percent		 100.00% 135.31% 110.72% 98.70% 99.30% 100.00% 101.67% 97.75% 90.67% 99.32%
Interest Burden Percent		 100.19% 97.18% 137.07% 100.09% 95.26% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.68%
Return on Invested Capital (ROIC)		 -483.01% -1,398.13% -389.03% -4,513.78% -234.55% -34.85% -3.88% -36.89% -4.01% 6.78%
ROIC Less NNEP Spread (ROIC-NNEP)		 -468.86% -1,393.94% -353.05% -4,442.40% -125.32% -32.17% -5.88% 17.49% -2.74% 23.08%
Return on Net Nonoperating Assets (RNNOA)		 438.95% 1,370.55% 327.15% 4,291.26% 102.39% 25.54% 1.98% -3.88% 0.76% -2.43%
Return on Equity (ROE)		 -44.06% -27.57% -61.88% -222.52% -132.16% -9.30% -1.90% -40.77% -3.26% 4.35%
Cash Return on Invested Capital (CROIC)		 -453.12% 0.00% -284.54% 0.00% -210.70% -176.74% -184.08% -26.19% -36.54% -79.64%
Operating Return on Assets (OROA)		 -35.25% -17.15% -37.94% -184.17% -97.03% -9.09% -1.69% -36.69% -3.24% 3.68%
Return on Assets (ROA)		 -35.32% -22.55% -57.57% -181.92% -91.79% -9.09% -1.71% -35.86% -2.94% 3.66%
Return on Common Equity (ROCE)		 -44.06% -27.57% -53.73% -192.60% -137.37% -9.30% -1.90% -40.77% -3.26% 4.35%
Return on Equity Simple (ROE_SIMPLE)		 -54.49% -28.64% -40.87% -1,040.49% -77.37% -5.09% -1.14% -44.25% -2.62% 3.48%
Net Operating Profit after Tax (NOPAT)		 -6.12 -3.63 -9.21 -42 -6.59 -11 -21 -359 -44 153
NOPAT Margin		 -3,091.64% -3,758.73% -3,414.76% -529.72% -96.42% -90.07% -9.81% -138.48% -15.72% 40.50%
Net Nonoperating Expense Percent (NNEP)		 -14.15% -4.19% -35.99% -71.38% -109.23% -2.68% 2.00% -54.38% -1.27% -16.30%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - -31.17% -2.34% 4.09%
Cost of Revenue to Revenue		 15.44% 0.00% 9.34% 74.19% 89.18% 51.74% 38.50% 74.74% 90.61% 69.76%
SG&A Expenses to Revenue		 3,411.18% 4,561.92% 2,712.20% 265.88% 133.96% 84.85% 41.00% 26.03% 35.75% 70.86%
R&D to Revenue		 1,090.00% 257.67% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 4,501.18% 5,469.62% 4,978.23% 782.55% 148.56% 176.92% 75.51% 223.09% 31.85% -10.54%
Earnings before Interest and Taxes (EBIT)		 -8.74 -3.25 -13 -61 -21 -14 -15 -521 -55 110
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -8.49 -3.16 -7.52 -56 -19 -9.34 11 -413 198 322
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.52 1.03 5.75 3.83 1.06 3.12 1.92 0.35 1.69 1.08
Price to Tangible Book Value (P/TBV)		 0.52 1.10 6.11 4.85 1.08 3.13 2.59 0.35 1.71 1.14
Price to Revenue (P/Rev)		 42.46 159.42 876.37 2.79 4.05 71.62 12.14 1.53 11.38 9.01
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 31.01
Dividend Yield		 0.00% 0.00% 3.52% 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% 3.22%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 37.85 0.00 1.16 12.02 2.21 0.18 2.02 1.08
Enterprise Value to Revenue (EV/Rev)		 0.00 26.04 742.82 1.62 1.54 53.11 10.62 0.64 9.21 9.22
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 205.13 0.00 13.08 10.77
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 31.53
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 22.77
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 314.94 78.14 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		 0.13 0.01 0.00 0.38 0.00 0.00 0.00 0.00 0.00 0.19
Long-Term Debt to Equity		 0.11 0.00 0.00 0.38 0.00 0.00 0.00 0.00 0.00 0.19
Financial Leverage		 -0.94 -0.98 -0.93 -0.97 -0.82 -0.79 -0.34 -0.22 -0.28 -0.11
Leverage Ratio		 1.25 1.22 1.07 1.22 1.44 1.02 1.11 1.14 1.11 1.19
Compound Leverage Factor		 1.25 1.19 1.47 1.22 1.37 1.02 1.11 1.14 1.11 1.19
Debt to Total Capital		 11.75% 0.93% 0.27% 27.41% 0.00% 0.00% 0.00% 0.00% 0.04% 15.68%
Short-Term Debt to Total Capital		 1.65% 0.93% 0.27% 0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.01%
Long-Term Debt to Total Capital		 10.10% 0.00% 0.00% 27.41% 0.00% 0.00% 0.00% 0.00% 0.03% 15.67%
Preferred Equity to Total Capital		 0.00% 0.00% 15.56% 1.12% 0.08% 0.01% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 1.52% -20.95% -0.03% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 88.25% 99.07% 82.64% 92.42% 99.94% 99.99% 100.00% 100.00% 99.96% 84.32%
Debt to EBITDA		 -0.25 -0.04 -0.02 -0.03 0.00 0.00 0.00 0.00 0.00 1.81
Net Debt to EBITDA		 1.77 4.09 5.92 0.14 0.00 0.00 0.00 0.00 -3.08 0.25
Long-Term Debt to EBITDA		 -0.22 0.00 0.00 -0.03 0.00 0.00 0.00 0.00 0.00 1.81
Debt to NOPAT		 -0.35 -0.04 -0.01 -0.04 0.00 0.00 0.00 0.00 -0.02 3.83
Net Debt to NOPAT		 2.45 3.55 4.83 0.19 0.00 0.00 0.00 0.00 13.81 0.53
Long-Term Debt to NOPAT		 -0.30 0.00 0.00 -0.04 0.00 0.00 0.00 0.00 -0.01 3.83
Altman Z-Score		 -6.56 -4.39 48.76 -32.84 -7.74 168.50 9.19 -0.20 11.78 2.65
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 13.17% 13.45% -3.94% 0.01% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 9.16 13.03 40.74 0.35 3.75 98.57 5.14 3.65 8.33 3.74
Quick Ratio		 9.02 12.36 40.03 0.03 2.21 93.19 3.08 2.12 5.14 2.74
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -5.75 -2.00 -15 -33 -19 -55 -992 -255 -402 -1,793
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% -91.68% -310.91% -35.64% -58.51% 0.35% 17.66% -110.83%
Free Cash Flow to Firm to Interest Expense		 -58.05 -66.24 -3.13 -266.77 -156.68 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 -69.41 -183.01 -0.92 -154.89 -126.35 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 -69.32 -123.04 -0.92 -323.85 -166.99 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.01 0.01 0.01 0.24 0.31 0.08 0.24 0.18 0.17 0.13
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 12.25 10.87 14.53
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		 0.10 0.10 0.13 3.63 2.69 1.59 1.49 0.53 0.40 0.37
Accounts Payable Turnover		 0.05 0.00 0.08 2.75 2.68 8.71 7.91 10.07 12.23 12.89
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 29.81 33.58 25.11
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)		 6,793.68 0.00 4,810.29 132.92 136.07 41.90 46.14 36.26 29.85 28.31
Cash Conversion Cycle (CCC)		 -6,793.68 0.00 -4,810.29 -132.92 -136.07 -41.90 -46.14 -6.45 3.72 -3.20
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 1.08 -0.56 5.29 -3.45 9.07 53 1,025 921 1,279 3,224
Invested Capital Turnover		 0.16 0.37 0.11 8.52 2.43 0.39 0.40 0.27 0.26 0.17
Increase / (Decrease) in Invested Capital		 -0.38 -1.64 5.85 -8.74 13 44 972 -104 358 1,945
Enterprise Value (EV)		 -6.58 2.52 200 13 11 642 2,265 167 2,585 3,473
Market Capitalization		 8.41 15 236 22 28 865 2,589 398 3,195 3,393
Book Value per Share		 $0.52 $3.31 $4.94 $0.39 $1.06 $5.44 $11.63 $9.82 $9.14 $9.46
Tangible Book Value per Share		 $0.52 $3.10 $4.65 $0.31 $1.04 $5.43 $8.61 $9.64 $9.07 $8.99
Total Capital		 18 15 50 6.19 26 277 1,348 1,151 1,889 3,728
Total Debt		 2.14 0.14 0.14 1.70 0.00 0.00 0.00 0.00 0.78 585
Total Long-Term Debt		 1.84 0.00 0.00 1.70 0.00 0.00 0.00 0.00 0.53 584
Net Debt		 -15 -13 -45 -7.94 -17 -224 -323 -231 -610 80
Capital Expenditures (CapEx)		 -0.01 -1.81 0.00 21 4.96 7.99 147 152 187 230
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -1.24 -0.21 -0.17 -4.57 1.82 10 132 92 291 -46
Debt-free Net Working Capital (DFNWC)		 15 13 41 -4.35 9.26 234 455 322 888 439
Net Working Capital (NWC)		 15 13 41 -4.35 9.26 234 455 322 888 439
Net Nonoperating Expense (NNE)		 2.63 0.64 11 19 14 3.23 -5.47 151 5.34 43
Net Nonoperating Obligations (NNO)		 -15 -15 -44 -7.94 -17 -224 -323 -231 -610 80
Total Depreciation and Amortization (D&A)		 0.25 0.09 5.64 5.27 2.32 4.76 26 108 252 212
Debt-free, Cash-free Net Working Capital to Revenue		 -624.85% -215.77% -61.53% -58.28% 26.61% 86.80% 61.71% 35.31% 103.55% -12.26%
Debt-free Net Working Capital to Revenue		 7,533.36% 13,265.87% 15,384.74% -55.41% 135.42% 1,935.83% 213.24% 124.18% 316.31% 116.66%
Net Working Capital to Revenue		 7,381.28% 13,121.49% 15,334.47% -55.41% 135.42% 1,935.83% 213.24% 124.18% 316.22% 116.58%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($2.24) ($1.05) ($3.30) ($4.33) ($1.02) ($0.30) $0.00 $0.00 ($0.28) $0.40
Adjusted Weighted Average Basic Shares Outstanding		 3.87M 5.40M 6.02M 13.40M 31.03M 84.12M 0.00 0.00 175.03M 275.98M
Adjusted Diluted Earnings per Share		 ($2.24) ($1.05) ($3.30) ($4.33) ($1.02) ($0.30) $0.00 $0.00 ($0.28) $0.34
Adjusted Weighted Average Diluted Shares Outstanding		 3.87M 5.40M 6.02M 13.40M 31.03M 84.12M 0.00 0.00 175.03M 318.93M
Adjusted Basic & Diluted Earnings per Share		 ($2.24) ($1.05) ($3.30) ($4.33) ($1.02) ($0.30) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 3.87M 4.07M 6.02M 13.40M 19.60M 41.98M 0.00 0.00 253.54M 350.21M
Normalized Net Operating Profit after Tax (NOPAT)		 -6.12 -3.63 -5.56 -17 -5.98 -6.24 25 -14 -40 175
Normalized NOPAT Margin		 -3,091.64% -3,758.73% -2,060.22% -215.04% -87.42% -51.66% 11.51% -5.59% -14.39% 46.56%
Pre Tax Income Margin		 -4,421.09% -3,265.62% -6,688.86% -777.67% -299.05% -116.77% -7.12% -201.14% -19.44% 29.24%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 -88.32 -107.73 -2.74 -495.57 -175.93 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 -61.88 -120.51 -1.92 -337.86 -54.03 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 -88.24 -47.76 -2.74 -664.53 -216.57 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 -61.80 -60.54 -1.92 -506.81 -94.67 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% -47.88% -0.50% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% -49.84% -0.50% 0.00% -3.16% -32.92% -3.29% -62.04% 29.21%

Quarterly Metrics And Ratios for Riot Platforms

This table displays calculated financial ratios and metrics derived from Riot Platforms' official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
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 3/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -28.57% -33.82% -8.21% 5.20% 12.10% 31.03% 8.27% -8.76% 63.39% 80.88% 103.52%
EBITDA Growth		 -306.70% -467.21% 42.70% 111.33% -76.81% 186.04% 232.32% -223.03% -502.79% 116.22% -189.06%
EBIT Growth		 -352.52% -524.77% -63.29% 92.38% -126.63% 123.90% 1,463.46% -209.42% -92.44% 248.33% -239.82%
NOPAT Growth		 -765.13% -481.07% -38.36% 90.89% -130.08% 130.23% 758.86% -263.67% -47.21% 444.76% -180.27%
Net Income Growth		 -111.40% -493.96% -49.39% 92.25% -146.77% 124.63% 1,043.94% -208.35% -92.86% 245.91% -239.94%
EPS Growth		 0.00% 0.00% -64.52% 94.10% -109.52% 120.19% 636.36% -100.00% -22.73% 85.71% -211.11%
Operating Cash Flow Growth		 139.83% 105.93% 171.41% -223.35% -145.92% 2,914.39% -278.76% -11.44% -813.57% -318.40% -110.98%
Free Cash Flow Firm Growth		 45.08% 99.03% 135.00% 105.87% 83.49% -3,276.93% -273.43% -2,614.78% -1,813.71% -443.71% -138.29%
Invested Capital Growth		 49.17% -10.16% -28.56% -6.38% 0.29% 38.85% 96.46% 103.24% 103.28% 152.15% 80.39%
Revenue Q/Q Growth		 -36.54% 29.94% 21.76% 4.78% -32.38% 51.88% 0.61% -11.70% 21.09% 68.14% 13.21%
EBITDA Q/Q Growth		 97.38% -1,234.14% 167.31% -47.88% -140.89% 749.22% 264.80% -119.29% -100.36% 332.87% -198.89%
EBIT Q/Q Growth		 90.12% -365.34% 108.70% -301.38% -194.03% 149.08% 4,455.83% -139.85% -82.87% 188.84% -315.83%
NOPAT Q/Q Growth		 89.84% -352.78% 120.88% -194.86% -156.49% 159.49% 49,376.28% -140.17% -3.82% 320.16% -187.42%
Net Income Q/Q Growth		 90.83% -393.72% 111.56% -247.93% -192.26% 149.28% 4,380.16% -139.88% -82.79% 188.39% -317.22%
EPS Q/Q Growth		 92.25% -395.24% 110.58% -245.45% -175.00% 147.73% 3,950.00% -139.51% -68.75% 172.22% -330.77%
Operating Cash Flow Q/Q Growth		 -56.58% -88.87% 2,066.20% -217.87% 83.84% 830.38% -228.46% 26.52% -32.51% -74.60% -24.10%
Free Cash Flow Firm Q/Q Growth		 48.89% 97.40% 4,119.89% -89.01% -243.84% -431.46% -86.80% -59.35% -9.46% -50.99% 9.52%
Invested Capital Q/Q Growth		 2.58% -11.62% -1.88% 5.25% 9.89% 22.35% 38.91% 8.89% 9.91% 51.76% -0.68%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 7.80% 5.18% 13.81% 16.65% -22.91% 19.47% 40.60% 23.39% 13.98% 37.52% 40.77%
EBITDA Margin		 -19.13% -196.37% 100.29% 49.88% -30.17% 128.94% 307.80% -67.26% -111.29% 154.13% -134.63%
Operating Margin		 -77.50% -270.08% 23.72% -41.94% -159.08% 43.53% 257.19% -167.16% -143.32% 132.02% -144.92%
EBIT Margin		 -76.45% -273.78% 18.49% -35.54% -154.55% 49.95% 267.04% -120.53% -182.02% 96.18% -183.37%
Profit (Net Income) Margin		 -70.07% -266.24% 25.28% -35.69% -154.25% 50.05% 267.07% -120.61% -182.06% 95.70% -183.64%
Tax Burden Percent		 91.66% 98.22% 136.69% 100.41% 99.80% 100.20% 100.01% 100.07% 100.02% 99.50% 100.15%
Interest Burden Percent		 100.00% 99.01% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% -36.69% 0.00% 0.00% -0.20% -0.01% 0.00% 0.00% 0.50% 0.00%
Return on Invested Capital (ROIC)		 -18.08% -50.36% 7.56% -7.66% -27.96% 11.13% 55.07% -22.73% -19.81% 21.98% -18.70%
ROIC Less NNEP Spread (ROIC-NNEP)		 -13.63% -33.61% 10.92% -5.93% -19.91% 9.93% 53.32% -22.19% -4.75% 41.18% 41.12%
Return on Net Nonoperating Assets (RNNOA)		 2.17% 7.45% -1.37% 1.32% 4.17% -2.74% -13.29% 5.46% 1.07% -4.33% -3.36%
Return on Equity (ROE)		 -15.91% -42.92% 6.18% -6.34% -23.79% 8.39% 41.79% -17.26% -18.74% 17.65% -22.07%
Cash Return on Invested Capital (CROIC)		 -69.89% -26.19% -1.18% -8.58% -17.72% -36.54% -55.84% -65.41% -68.13% -79.64% -65.34%
Operating Return on Assets (OROA)		 -18.41% -49.93% 3.34% -6.52% -27.84% 8.32% 39.66% -16.53% -26.02% 12.10% -26.58%
Return on Assets (ROA)		 -16.87% -48.56% 4.56% -6.55% -27.79% 8.33% 39.66% -16.55% -26.03% 12.04% -26.62%
Return on Common Equity (ROCE)		 -15.91% -42.92% 6.18% -6.34% -23.79% 8.39% 41.79% -17.26% -18.74% 17.65% -22.07%
Return on Equity Simple (ROE_SIMPLE)		 -28.97% 0.00% -48.31% -16.23% -18.58% 0.00% 5.81% 3.36% 0.45% 0.00% -13.54%
Net Operating Profit after Tax (NOPAT)		 -25 -114 24 -23 -58 34 204 -82 -85 187 -164
NOPAT Margin		 -54.25% -189.05% 32.43% -29.36% -111.35% 43.62% 257.22% -117.01% -100.32% 131.36% -101.44%
Net Nonoperating Expense Percent (NNEP)		 -4.45% -16.76% -3.36% -1.73% -8.05% 1.21% 1.76% -0.54% -15.06% -19.20% -59.82%
Return On Investment Capital (ROIC_SIMPLE)		 - -9.88% - - - 1.82% - - - 5.02% -4.64%
Cost of Revenue to Revenue		 92.20% 94.82% 86.19% 83.35% 122.91% 80.53% 59.40% 76.61% 86.02% 62.48% 59.23%
SG&A Expenses to Revenue		 34.57% 49.59% 17.31% 25.85% 56.02% 49.19% 72.70% 87.39% 78.95% 56.92% 44.27%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 85.30% 275.25% -9.91% 58.59% 136.17% -24.06% -216.59% 190.55% 157.29% -94.50% 185.69%
Earnings before Interest and Taxes (EBIT)		 -35 -165 14 -27 -80 39 212 -84 -154 137 -296
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -8.85 -118 73 38 -16 102 244 -47 -94 220 -217
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.83 0.35 1.53 1.67 1.29 1.69 1.02 1.02 0.82 1.08 0.85
Price to Tangible Book Value (P/TBV)		 0.84 0.35 1.56 1.69 1.31 1.71 1.03 1.03 0.85 1.14 0.89
Price to Revenue (P/Rev)		 3.74 1.53 6.60 8.07 6.60 11.38 8.82 9.43 7.20 9.01 5.44
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 17.58 30.43 181.51 31.01 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 5.69% 3.29% 0.55% 3.22% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.79 0.18 1.64 1.87 1.37 2.02 1.03 1.03 0.77 1.08 0.86
Enterprise Value to Revenue (EV/Rev)		 2.85 0.64 5.86 6.94 5.47 9.21 6.37 7.10 5.20 9.22 6.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 13.08 4.96 7.02 7.97 10.77 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 12.72 22.97 131.30 31.53 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 14.78 51.29 0.00 22.77 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 314.94 18.92 194.71 0.00 78.14 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.19 0.20
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.19 0.20
Financial Leverage		 -0.16 -0.22 -0.13 -0.22 -0.21 -0.28 -0.25 -0.25 -0.23 -0.11 -0.08
Leverage Ratio		 1.16 1.14 1.13 1.11 1.10 1.11 1.08 1.07 1.07 1.19 1.17
Compound Leverage Factor		 1.16 1.13 1.13 1.11 1.10 1.11 1.08 1.07 1.07 1.19 1.17
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.04% 0.00% 0.00% 0.23% 15.68% 16.58%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.00% 0.00% 0.02% 0.01% 0.01%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.03% 0.00% 0.00% 0.20% 15.67% 16.57%
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% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 99.96% 100.00% 100.00% 99.77% 84.32% 83.42%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.03 1.81 -4.21
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 -3.08 0.00 0.00 -3.06 0.25 -1.85
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.03 1.81 -4.21
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 -0.02 0.00 0.00 -20.56 3.83 -2.94
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 13.81 0.00 0.00 2,053.04 0.53 -1.29
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 -0.01 0.00 0.00 -18.40 3.83 -2.94
Altman Z-Score		 4.07 0.69 5.90 10.14 8.56 11.93 11.55 11.33 7.58 2.67 1.52
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 4.45 3.65 3.26 6.49 7.22 8.33 8.47 7.65 5.68 3.74 3.23
Quick Ratio		 2.56 2.12 1.59 4.07 4.26 5.14 7.58 6.71 4.45 2.74 1.83
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -369 -9.57 385 42 -61 -323 -668 -1,064 -1,164 -1,758 -1,591
Operating Cash Flow to CapEx		 23.54% 8.75% 43.76% -113.98% -15.12% 98.99% -100.68% -79.37% -74.60% -225.71% -371.48%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.24 0.18 0.18 0.18 0.18 0.17 0.15 0.14 0.14 0.13 0.14
Accounts Receivable Turnover		 27.59 12.25 14.09 17.52 17.43 10.87 16.86 20.85 22.33 14.53 27.22
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.68 0.53 0.48 0.46 0.40 0.40 0.37 0.32 0.34 0.37 0.43
Accounts Payable Turnover		 12.63 10.07 13.65 14.46 22.99 12.23 14.36 25.75 22.15 12.89 29.04
Days Sales Outstanding (DSO)		 13.23 29.81 25.90 20.83 20.94 33.58 21.65 17.51 16.35 25.11 13.41
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 28.89 36.26 26.75 25.25 15.87 29.85 25.42 14.18 16.48 28.31 12.57
Cash Conversion Cycle (CCC)		 -15.66 -6.45 -0.85 -4.41 5.07 3.72 -3.76 3.33 -0.13 -3.20 0.84
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,042 921 903 951 1,045 1,279 1,775 1,933 2,124 3,224 3,202
Invested Capital Turnover		 0.33 0.27 0.23 0.26 0.25 0.26 0.21 0.19 0.20 0.17 0.18
Increase / (Decrease) in Invested Capital		 343 -104 -361 -65 3.06 358 871 982 1,079 1,945 1,427
Enterprise Value (EV)		 826 167 1,479 1,779 1,433 2,585 1,827 1,988 1,627 3,473 2,750
Market Capitalization		 1,083 398 1,668 2,069 1,729 3,195 2,528 2,639 2,252 3,393 2,493
Book Value per Share		 $8.41 $9.82 $6.54 $7.09 $7.24 $9.14 $9.54 $8.95 $9.06 $9.46 $8.41
Tangible Book Value per Share		 $8.32 $9.64 $6.42 $6.98 $7.14 $9.07 $9.48 $8.91 $8.70 $8.99 $7.97
Total Capital		 1,299 1,151 1,092 1,241 1,341 1,889 2,475 2,585 2,755 3,728 3,530
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.78 0.00 0.00 6.26 585 585
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.53 0.00 0.00 5.60 584 585
Net Debt		 -257 -231 -189 -290 -296 -610 -700 -652 -625 80 257
Capital Expenditures (CapEx)		 57 17 74 33 41 45 57 54 76 44 33
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 113 92 66 119 152 291 3.95 7.74 -27 -46 1.67
Debt-free Net Working Capital (DFNWC)		 370 322 254 408 442 888 692 647 591 439 311
Net Working Capital (NWC)		 370 322 254 408 442 888 692 647 591 439 310
Net Nonoperating Expense (NNE)		 7.32 46 5.24 4.86 22 -5.07 -7.81 2.52 69 51 133
Net Nonoperating Obligations (NNO)		 -257 -231 -189 -290 -296 -610 -700 -652 -625 80 257
Total Depreciation and Amortization (D&A)		 27 47 60 66 65 62 32 37 60 83 79
Debt-free, Cash-free Net Working Capital to Revenue		 38.87% 35.31% 26.06% 46.51% 58.08% 103.55% 1.38% 2.76% -8.70% -12.26% 0.36%
Debt-free Net Working Capital to Revenue		 127.57% 124.18% 100.39% 159.28% 168.80% 316.31% 241.49% 230.89% 188.96% 116.66% 67.70%
Net Working Capital to Revenue		 127.57% 124.18% 100.39% 159.28% 168.80% 316.22% 241.49% 230.89% 188.76% 116.58% 67.63%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.24) ($1.04) ($0.33) ($0.17) ($0.25) $0.21 $0.82 ($0.32) ($0.54) $0.44 ($0.90)
Adjusted Weighted Average Basic Shares Outstanding		 153.90M 139.43M 167.34M 167.34M 180.95M 175.03M 259.51M 264.63M 286.24M 275.98M 329.51M
Adjusted Diluted Earnings per Share		 $0.00 ($1.04) ($0.33) ($0.01) ($0.25) $0.21 $0.81 ($0.32) ($0.54) $0.39 ($0.90)
Adjusted Weighted Average Diluted Shares Outstanding		 153.90M 139.43M 167.34M 167.34M 180.95M 175.03M 262.36M 264.63M 286.24M 318.93M 329.51M
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		 167.30M 166.98M 175.08M 185.31M 206.52M 253.54M 288.78M 303.52M 332.33M 350.21M 357.26M
Normalized Net Operating Profit after Tax (NOPAT)		 -28 -77 12 -23 -54 24 143 -82 -83 187 -164
Normalized NOPAT Margin		 -61.28% -128.63% 16.61% -29.33% -104.20% 30.47% 180.03% -116.94% -97.78% 131.36% -101.35%
Pre Tax Income Margin		 -76.45% -271.08% 18.49% -35.54% -154.55% 49.95% 267.04% -120.53% -182.02% 96.18% -183.37%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 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% 0.00%
Augmented Payout Ratio		 -3.50% -3.29% -0.60% -8.96% -5.70% -62.04% 10.24% 9.32% 93.39% 29.21% -5.76%

Key Financial Trends

Riot Platforms reported mixed results in Q1 2025 as the company continues to scale its mining operations and invest heavily in infrastructure. While revenues edged higher, profitability and cash flows remain under pressure due to rising non‐cash and operating expenses.

  • Revenue growth: Q1 2025 total revenue of $161.4 M represents a 3.5% increase vs. the prior quarter
  • Strong liquidity: $163.7 M in cash & equivalents, plus $71.0 M in short-term investments, supporting a 3.23 current ratio
  • Undervalued book value: $8.41 book value per share with a P/B of 0.85
  • Heavy capital spending: $32.9 M in property, plant & equipment purchases reflects ongoing capacity expansion
  • Significant non-cash charges: $78.7 M of depreciation & amortization
  • Invested capital rose to $3.20 B, up 0.8% quarterly, indicating continued asset build-out
  • Deepening losses: Q1 2025 net loss of $296.4 M vs. net income of $211.8 M in Q1 2024
  • Cash burn: negative operating cash flow of $122.1 M in the quarter
  • Margin pressure: operating margin of –1.45% and net profit margin of –1.84%
  • Rising operating expenses: other operating expenses of $150.1 M weigh on the P&L
06/20/25 12:19 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Riot Platforms' Financials

When does Riot Platforms' fiscal year end?

According to the most recent income statement we have on file, Riot Platforms' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Riot Platforms' net income changed over the last 9 years?

Riot Platforms' net income appears to be on an upward trend, with a most recent value of $109.40 million in 2024, falling from -$8.76 million in 2015. The previous period was -$49.47 million in 2023. Find out what analysts predict for Riot Platforms in the coming months.

What is Riot Platforms' operating income?
Riot Platforms' total operating income in 2024 was $153.59 million, based on the following breakdown:
  • Total Gross Profit: $113.90 million
  • Total Operating Expenses: -$39.69 million
How has Riot Platforms' revenue changed over the last 9 years?

Over the last 9 years, Riot Platforms' total revenue changed from $198.09 thousand in 2015 to $376.66 million in 2024, a change of 190,048.7%.

How much debt does Riot Platforms have?

Riot Platforms' total liabilities were at $791.62 million at the end of 2024, a 385.5% increase from 2023, and a 16,421.2% increase since 2015.

How much cash does Riot Platforms have?

In the past 9 years, Riot Platforms' cash and equivalents has ranged from $225 thousand in 2018 to $597.17 million in 2023, and is currently $277.86 million as of their latest financial filing in 2024.

How has Riot Platforms' book value per share changed over the last 9 years?

Over the last 9 years, Riot Platforms' book value per share changed from 0.52 in 2015 to 9.46 in 2024, a change of 1,724.1%.


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This page (NASDAQ:RIOT) was last updated on 6/20/2025 by MarketBeat.com Staff
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