Cipher Mining (CIFRW) Financials

$0.42 +0.04 (+9.09%)

As of 03:59 PM Eastern

Annual Income Statements for Cipher Mining

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

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

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

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

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

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

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

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

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

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

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

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	407	413	417	416	677	776	775
Total Current Assets	70	36	42	54	250	309	152
Cash & Equivalents	28	3.92	1.74	3.34	89	123	25
Accounts Receivable	0.73	1.57	1.99	0.36	1.11	0.46	0.29
Prepaid Expenses	8.28	4.28	2.26	3.96	2.91	3.60	3.49
Other Current Assets	33	27	36	47	158	183	123
Plant, Property, & Equipment, net	41	263	268	258	239	239	311
Total Noncurrent Assets	297	113	107	104	188	227	313
Long-Term Investments	32	35	33	34	53	50	55
Intangible Assets	-	-	-	-	8.16	8.50	26
Other Noncurrent Operating Assets	265	79	74	70	128	169	232
Total Liabilities & Shareholders' Equity	407	413	417	416	677	776	775
Total Liabilities	24	68	74	74	76	85	103
Total Current Liabilities	20	33	39	39	31	36	59
Accounts Payable	7.88	12	3.61	6.16	7.52	14	13
Accrued Expenses	11	17	23	25	19	18	41
Other Current Liabilities	1.00	3.74	12	7.92	4.80	4.86	5.17
Total Noncurrent Liabilities	4.78	35	35	35	45	48	44
Asset Retirement Reserve & Litigation Obligation	-	17	18	18	19	19	20
Noncurrent Deferred & Payable Income Tax Liabilities	-	1.89	2.51	1.29	10	11	6.56
Other Noncurrent Operating Liabilities	4.78	16	15	16	16	18	18
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	383	345	343	343	601	691	672
Total Preferred & Common Equity	383	345	343	343	601	691	672
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	383	345	343	343	601	691	672
Common Stock	443	462	474	491	698	803	871
Retained Earnings	-60	-118	-131	-148	-97	-112	-199
Treasury Stock	-0.00	-0.00	-0.00	-0.01	-0.01	-0.01	-0.01

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

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

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

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

Frequently Asked Questions About Cipher Mining's Financials

When does Cipher Mining's financial year end?

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

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

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

What is Cipher Mining's operating income?

Cipher Mining's total operating income in 2024 was -$43.70 million, based on the following breakdown:

Total Gross Profit: $97.64 million
Total Operating Expenses: $195.90 million

How has Cipher Mining revenue changed over the last 3 years?

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

How much debt does Cipher Mining have?

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

How much cash does Cipher Mining have?

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

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

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

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This page (NASDAQ:CIFRW) was last updated on 4/23/2025 by MarketBeat.com Staff

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Cipher Mining (CIFRW) Financials

Frequently Asked Questions About Cipher Mining's Financials

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Cipher Mining (CIFRW) Financials

Annual Income Statements for Cipher Mining

Quarterly Income Statements for Cipher Mining

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Quarterly Cash Flow Statements for Cipher Mining

Annual Balance Sheets for Cipher Mining

Quarterly Balance Sheets for Cipher Mining

Annual Metrics and Ratios for Cipher Mining

Quarterly Metrics and Ratios for Cipher Mining

Frequently Asked Questions About Cipher Mining's Financials

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