Bitdeer Technologies Group logo BTDR - Bitdeer Technologies Group

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 9
HOLD 2
SELL 0
STRONG
SELL
0
| PRICE TARGET: $19.70 DETAILS
HIGH: $30.00
LOW: $5.90
MEDIAN: $22.00
CONSENSUS: $19.70
UPSIDE: 34.47%
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1
Revenue
Revenue 188.9 224.8 169.7 155.6 70.1 69.0 62.0 99.2 119.5 114.8 87.3 93.8 72.6 77.1 76.6 89.2 90.4 87.5 87.5 109.8 109.8 51.6 51.6 41.6 41.6
Cost of Revenue 228.0 214.3 128.9 142.8 74.1 63.9 59.3 74.8 85.4 87.8 66.2 77.7 59.1 66.4 73.0 61.5 49.1 38.2 38.2 38.4 38.4 58.8 58.8 46.0 46.0
Gross Profit (39.0) 10.6 40.8 12.8 (4.0) 5.1 2.8 24.4 34.1 27.0 21.1 16.2 13.5 10.7 3.5 27.6 41.4 49.3 49.3 71.4 71.4 (7.3) (7.3) (4.3) (4.3)
Operating Expenses
R&D Expenses 20.2 35.2 39.1 20.6 59.0 22.9 24.8 8.0 21.2 8.3 8.5 6.4 6.3 8.5 7.2 8.7 11.1 13.1 13.1 1.7 1.7 3.4 3.4 1.5 1.5
SG&A Expenses 27.5 31.1 21.4 21.8 16.7 19.6 18.1 18.0 16.7 19.1 18.8 18.3 18.4 25.0 21.2 24.4 34.6 43.1 43.1 6.0 6.0 9.6 9.6 3.4 3.4
Other Expenses 19.2 23.1 (26.5) (4.6) 18.8 10.9 13.5 14.0 (4.2) (4.1) (1.7) 32.7 (1.0) 1.7 (0.1) 2.7 (1.0) (2.3) (2.3) (6.2) (6.2) (4.0) (4.0) 6.3 6.3
Operating Expenses 66.9 89.4 34.0 37.7 94.5 53.4 56.4 40.1 33.6 23.3 25.6 57.5 23.7 35.2 28.2 35.8 44.6 53.9 53.9 1.4 1.4 9.0 9.0 11.1 11.1
Operating Income
Operating Income (105.9) (78.8) 6.9 (24.9) (98.5) (48.3) (53.6) (15.7) 0.5 3.7 (4.5) (41.3) (10.2) (24.5) (24.7) (8.1) (3.3) (4.6) (4.6) 70.0 70.0 (16.2) (16.2) (15.5) (15.5)
Interest Expense 29.5 36.4 29.4 13.7 9.3 10.2 0.2 0.0 0 0 0 0.9 0.2 0 2.7 5.0 0.8 0 0 0 0
Interest Income 0 0 0 0 0 0 0 0 0.2 2.2 1.2 0 0 0 0 0 0 0.0 0.0 0.2 0.2 0.0 0.0
Profitability
EBITDA (133.4) 275.9 6.9 376.3 104.0 (542.6) (38.9) (0.2) (1.9) 12.6 (5.3) (42.8) (10.3) (22.3) (24.8) (8.1) (3.3) 1.9 1.9 91.1 91.1 14.9 14.9 10.0 10.0
EBIT (133.4) 275.9 6.9 376.3 104.0 (542.6) (38.9) (0.2) (1.9) 12.6 (5.3) (42.8) (10.3) (22.3) (24.8) (8.1) (3.3) (6.9) (6.9) 70.6 70.6 (14.7) (14.7) (14.5) (14.5)
Income Before Tax (162.9) 72.9 (261.1) (147.9) 98.7 (532.7) (53.8) (15.7) 0.7 4.9 (3.3) (42.2) (10.4) (20.1) (27.4) (13.1) (4.1) (4.8) (4.8) 70.2 70.2 (10.0) (10.0) (13.9) (13.9)
Income Tax Expense (3.4) 2.4 5.6 (0.2) (6.6) (0.8) (3.7) 2.0 0.0 9.9 (1.5) (1.8) (1.0) (7.1) (5.3) 2.5 5.5 10.8 10.8 13.3 13.3 3.2 3.2 0.7 0.7
Net Income (159.5) 70.5 (266.7) (147.7) 105.3 (531.9) (50.1) (17.7) 0.6 (5.0) (1.8) (40.4) (9.5) (13.0) (22.1) (15.6) (9.6) (15.6) (15.6) 56.9 56.9 (13.3) (13.3) (14.6) (14.6)
Per Share Data
EPS (Basic) -0.68 0.31 -1.28 -0.76 2.15 -3.22 -0.35 -0.14 0.01 -0.05 -0.02 -0.36 -0.09 -0.12 -0.20 -0.14 -0.09 -0.00 0.00 -0.00 -0.00 -0.00 -0.00
EPS (Diluted) -0.68 0.26 -1.28 -0.76 1.79 -3.22 -0.35 -0.14 0.01 -0.05 -0.02 -0.36 -0.09 -0.12 -0.20 -0.14 -0.09 -0.00 0.00 -0.00 -0.00 -0.00 -0.00
Shares Outstanding 233.4 96.6 208.6 194.0 190.2 165.4 143.8 126.5 114.8 111.1 111.3 110.9 111.1 111.3 108.7 108.7 111.3 111.3 111.3 111.3 111.3 12,670.8 12,670.8 12,670.1 12,670.1
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3
Current Assets
Cash & Cash Equivalents 291.3 171.7 196.3 299.8 215.6 476.3 291.3 203.9 128.0 144.7 134.5 139.7 185.4 231.4 330.8 0.3 372.1 372.1 179.7 179.7 44.8 44.8
Short-Term Investments 4.7 5.0 88.3 173.9 166.6 82.1 0 0 0 16.4 0 0 0 0 31.9 0 0 6.7 5.4 5.4 6.1 6.1
Net Receivables 252.8 176.6 193.0 28.3 26.1 25.1 24.7 28.7 28.7 17.5 13.7 15.7 15.6 22.0 20.9 0 20.7 8.7 2.8 2.8 2.0 2.0
Inventory 613.0 252.0 231.5 208.8 153.7 64.9 68.6 8.2 0 0.3 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets 376.2 781.4 579.5 404.6 347.2 301.1 9.1 9.1 163.0 (8.1) 9.5 129.7 126.9 11.5 31.2 0 10.3 26.6 665.2 665.2 624.6 624.6
Total Current Assets 1,538.1 1,386.6 1,288.6 1,115.3 909.2 949.4 393.8 360.5 319.7 260.3 157.8 285.1 327.9 319.6 414.7 0.3 424.2 415.3 853.1 853.1 677.5 677.5
Non-Current Assets
Property, Plant & Equipment 1,336.5 525.1 899.7 652.2 479.1 388.0 339.1 319.3 233.2 277.0 284.9 246.4 233.5 226.4 235.5 0 208.0 208.0 117.2 117.2 135.1 135.1
Goodwill 35.8 35.8 35.8 35.8 35.8 35.8 35.8 14.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 87.9 93.4 99.1 83.2 78.3 83.2 89.4 27.0 4.7 4.8 4.9 5.1 0.3 0.3 0.2 0 0.1 0.1 0.2 0.2 0.1 0.1
Long-Term Investments 44.2 107.2 40.8 35.1 4.5 38.0 41.6 41.7 73.8 36.8 36.5 43.8 35.4 61.0 0 58.1 1.2 0 0 0 0 0
Other Non-Current Assets 45.6 645.3 64.8 110.8 83.1 57.2 141.5 61.2 58.5 59.6 133.9 34.4 35.6 39.3 9.3 0 8.7 23.6 25.2 25.2 40.6 40.6
Total Non-Current Assets 1,563.0 1,417.9 1,148.5 925.8 689.4 608.4 652.7 467.2 371.3 379.1 463.8 333.9 308.9 331.8 244.9 58.1 222.8 231.7 142.7 142.7 175.8 175.8
Total Assets 3,101.1 2,804.6 2,437.1 2,041.1 1,598.6 1,557.9 1,046.4 827.7 691.0 639.4 621.6 619.0 636.8 651.4 659.7 58.4 647.0 647.0 995.7 995.7 853.3 853.3
Current Liabilities
Account Payables 133.6 119.8 78.0 76.2 50.7 31.5 36.9 36.2 25.3 32.5 25.0 0 0 15.8 12.0 0 17.7 17.7 5.0 5.0 3.1 3.1
Short-Term Debt 566.1 763.0 562.2 449.7 215.4 208.1 0 0 0 0 0 0 0 0 0 0.2 0 0 23.8 23.8 24.8 24.8
Deferred Revenue 57.6 64.4 52.5 56.9 61.0 0 111.4 119.9 130.8 49.5 148.4 155.6 167.6 182.3 0 0 213.4 0 0 0 0 0
Other Current Liabilities 62.0 560.1 672.5 438.0 256.8 801.0 0 1.4 40.7 (9.7) 0 47.1 39.0 1.3 2.7 2.8 0 11.6 660.9 660.9 638.4 638.4
Total Current Liabilities 832.0 1,520.7 1,435.7 1,082.0 711.1 1,100.1 192.3 199.6 201.3 121.2 205.1 202.7 206.7 221.2 30.7 3.0 258.9 48.8 705.2 705.2 678.1 678.1
Non-Current Liabilities
Long-Term Debt 1,376.2 336.3 262.1 83.4 0 0 92.7 37.8 22.7 22.6 22.6 30.0 29.9 29.8 29.6 0 29.5 29.5 0 0 0.9 0.9
Deferred Tax Liabilities 12.5 14.1 14.3 14.8 15.7 16.6 17.6 6.2 0.5 1.6 4.2 7.2 9.4 11.6 0 0 7.5 0 0 0 0 0
Other Non-Current Liabilities 2.5 (86.6) 2.5 2.4 1.8 1.6 144.4 25.3 0 1.7 0 (155.6) (167.6) 0 223.5 2.0 0 221.0 46.2 46.2 11.6 11.6
Total Non-Current Liabilities 1,538.9 416.1 427.6 252.3 92.9 181.1 333.4 148.7 98.3 185.6 97.8 107.9 108.9 111.9 311.7 2.0 100.0 310.1 60.3 60.3 29.3 29.3
Total Liabilities 2,371.0 1,936.7 1,863.3 1,334.3 804.0 1,281.3 525.7 348.3 299.6 306.8 302.8 310.5 315.6 333.1 342.4 5.0 358.9 358.9 765.5 765.5 707.4 707.4
Stockholders' Equity
Common Stock 0 0 0 0 0 0 0 0 0 0 0 0 0.0 0 0.0 3.4 0.0 0.0 0.0 0.0 145.9 145.9
Retained Earnings (693.0) (583.4) (653.9) (387.3) (239.5) (649.0) (117.1) (67.0) (49.2) (49.9) (44.8) (43.0) (2.7) 6.8 42.0 (8.1) 67.2 67.2 98.4 98.4 0 0
Accumulated Other Comprehensive Income 0 1,776.9 1,518.4 1,384.6 1,215.2 1,086.5 638.8 546.4 440.6 385.0 363.8 351.5 0 311.5 275.3 288.1 220.9 220.9 131.8 131.8 0 0
Total Stockholders' Equity 730.1 867.8 573.8 706.8 794.6 276.6 520.7 479.4 391.4 332.6 318.8 308.5 321.2 318.3 317.3 53.5 288.1 288.1 230.2 230.2 145.9 145.9
Total Liabilities & Equity 3,101.1 2,804.6 2,437.1 2,041.1 1,598.6 1,557.9 1,046.4 827.7 691.0 639.4 621.6 619.0 636.8 651.4 659.7 58.4 647.0 647.0 995.7 995.7 853.3 853.3
Debt Metrics
Total Debt 2,028.7 1,188.3 916.0 625.7 301.2 286.3 171.4 117.2 97.8 92.8 93.6 100.7 99.5 100.2 91.8 0.2 92.4 92.4 43.2 43.2 47.6 47.6
Net Debt 1,737.3 1,016.6 719.7 325.9 85.5 (190.0) (119.9) (86.7) (30.2) (51.9) (40.9) (39.0) (85.9) (131.1) (239.0) (0.1) (279.7) (279.7) (136.5) (136.5) 2.8 2.8
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1
Operating Activities
Net Income (159.5) 70.5 0 0 0 (531.9) 0 (17.7) 0.6 (5.0) 0 0 (9.5) (0.5) (22.1) (15.6) (9.6) (0.8) (0.3) (0.1) 56.9 (13.3) (13.3) (14.6) (14.6)
Depreciation & Amortization 0 0 0 0 0 25.1 0 0 0 0 0 0 17.3 0 18.5 0 0 0 0 0 21.7 30.6 30.6 25.5 25.5
Stock-Based Compensation 0 0 0 0 0 8.7 0 8.1 0 11.3 0 0 0 0 0 19.3 35.2 0 0 0 0 0 0 0 0
Change in Working Capital 0 0 0 0 0 (310.4) 0 0 0 0 0 0 0 0 0 0 0 1.0 0.1 (0.4) (1.8) 5.7 5.7 (0.2) (0.2)
Other Non-Cash Items (187.4) (670.1) (520.3) (334.9) (284.0) 483.5 (90.7) (64.5) (0.6) (6.3) (47.6) (66.1) (7.8) 0.5 3.6 (3.6) (25.6) 0.0 (0.0) 0.0 (77.1) (52.2) (52.2) (36.0) (36.0)
Operating Cash Flow (346.9) (599.5) (520.3) (334.9) (284.0) (325.1) (90.7) (74.1) 0 0 (47.6) (66.1) 0 0 0 0 0 0.2 (0.2) (0.4) (0.3) (29.2) (29.2) (25.4) (25.4)
Investing Activities
Capital Expenditure (93.7) (50.7) (59.7) (111.5) (67.6) (48.4) (30.1) (17.5) 0 0 (13.8) (38.1) 0 0 0 0 0 0.0 0.0 (0.0) (12.2) (25.4) (25.4) (46.5) (46.5)
Acquisitions 0.6 0 0 0 0 0 0.2 (6.3) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Purchases of Investments (0.4) 0 (2.1) (1.2) (0.1) 0 0 (1.5) 0 0 (3) (0.4) 0 0 0 0 0 0.0 0.1 (58.0) 0 0 0 0 0
Sales/Maturities of Investments 0 0 0 0 0 0 0.2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Investing Activities 206.8 148.6 89.0 100.1 (5.9) 38.4 39.9 79.6 0 0 76.8 70.3 0 0 0 0 0 0 0 0 88.6 68.2 68.2 35.1 35.1
Investing Cash Flow 113.3 97.9 27.2 (12.6) (73.6) (10.0) 10.2 54.3 0 0 60.0 31.8 0 0 0 0 0 0.0 0.1 (58.0) 76.4 42.8 42.8 (11.4) (11.4)
Financing Activities
Net Debt Issuance (2.0) 383.2 295.8 519.0 (1.9) (16.5) 160.7 (1.2) 0 0 (8.4) (1.4) 0 0 0 0 0 0 0 0 0 0 0 0 0
Stock Repurchased (4) (35) 0 (9) (21.0) 0 (0.6) 0 0 0 (0.1) 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities (33.7) 106.3 1.0 (78.5) (0.6) 539.3 0.2 0.3 0 0 (0.0) (7.5) 0 0 0 0 0 0 0 0 (8.2) (26.3) (26.3) 41.7 41.7
Financing Cash Flow 352.6 454.5 388.2 431.5 94.9 522.8 168.1 105.1 0 0 (8.5) (8.9) 0 0 0 0 0 (0.6) (0.1) 59.4 (8.2) (26.3) (26.3) 41.7 41.7
Cash Position
Net Change in Cash 119.6 (46.9) (103.5) 84.2 (260.6) 185.0 87.4 85.4 0 0 4.3 (43.7) 184.9 0.5 0 0 0 (0.3) (0.2) 0.9 (44.8) (12.5) (12.5) 4.9 4.9
Cash at Beginning 171.7 196.3 299.8 215.6 476.3 291.3 203.9 118.5 0 0 130.2 173.9 0.5 0 0 0 0 0.7 0.9 0 44.8 57.2 69.7 64.8 0
Cash at End 291.3 149.4 196.3 299.8 215.6 476.3 291.3 203.9 0 0 134.5 130.2 185.4 0.5 0 0 0 0.4 0.7 0.9 0 44.8 57.2 69.7 4.9
Free Cash Flow (440.6) (650.3) (580.0) (446.4) (351.6) (373.4) (120.9) (91.6) 0 0 (61.4) (104.2) 0 0 0 0 0 0.2 (0.2) (0.4) (12.6) (54.6) (54.6) (71.9) (71.9)
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1
Income Statement
Revenue 188.9 224.8 169.7 155.6 70.1 69.0 62.0 99.2 119.5 114.8 87.3 93.8 72.6 77.1 76.6 89.2 90.4 87.5 87.5 109.8 109.8 51.6 51.6 41.6 41.6
Gross Profit (39.0) 10.6 40.8 12.8 (4.0) 5.1 2.8 24.4 34.1 27.0 21.1 16.2 13.5 10.7 3.5 27.6 41.4 49.3 49.3 71.4 71.4 (7.3) (7.3) (4.3) (4.3)
Operating Income (105.9) (78.8) 6.9 (24.9) (98.5) (48.3) (53.6) (15.7) 0.5 3.7 (4.5) (41.3) (10.2) (24.5) (24.7) (8.1) (3.3) (4.6) (4.6) 70.0 70.0 (16.2) (16.2) (15.5) (15.5)
Net Income (159.5) 70.5 (266.7) (147.7) 105.3 (531.9) (50.1) (17.7) 0.6 (5.0) (1.8) (40.4) (9.5) (13.0) (22.1) (15.6) (9.6) (15.6) (15.6) 56.9 56.9 (13.3) (13.3) (14.6) (14.6)
EPS (Diluted) -0.68 0.26 -1.28 -0.76 1.79 -3.22 -0.35 -0.14 0.01 -0.05 -0.02 -0.36 -0.09 -0.12 -0.20 -0.14 -0.09 -0.00 0.00 -0.00 -0.00 -0.00 -0.00
Balance Sheet
Cash & Equivalents 291.3 171.7 196.3 299.8 215.6 476.3 291.3 203.9 128.0 144.7 134.5 139.7 185.4 231.4 330.8 0.3 372.1 372.1 179.7 179.7 44.8 44.8
Total Assets 3,101.1 2,804.6 2,437.1 2,041.1 1,598.6 1,557.9 1,046.4 827.7 691.0 639.4 621.6 619.0 636.8 651.4 659.7 58.4 647.0 647.0 995.7 995.7 853.3 853.3
Total Debt 2,028.7 1,188.3 916.0 625.7 301.2 286.3 171.4 117.2 97.8 92.8 93.6 100.7 99.5 100.2 91.8 0.2 92.4 92.4 43.2 43.2 47.6 47.6
Stockholders' Equity 730.1 867.8 573.8 706.8 794.6 276.6 520.7 479.4 391.4 332.6 318.8 308.5 321.2 318.3 317.3 53.5 288.1 288.1 230.2 230.2 145.9 145.9
Cash Flow
Operating Cash Flow (346.9) (599.5) (520.3) (334.9) (284.0) (325.1) (90.7) (74.1) 0 0 (47.6) (66.1) 0 0 0 0 0 0.2 (0.2) (0.4) (0.3) (29.2) (29.2) (25.4) (25.4)
Capital Expenditure (93.7) (50.7) (59.7) (111.5) (67.6) (48.4) (30.1) (17.5) 0 0 (13.8) (38.1) 0 0 0 0 0 0.0 0.0 (0.0) (12.2) (25.4) (25.4) (46.5) (46.5)
Free Cash Flow (440.6) (650.3) (580.0) (446.4) (351.6) (373.4) (120.9) (91.6) 0 0 (61.4) (104.2) 0 0 0 0 0 0.2 (0.2) (0.4) (12.6) (54.6) (54.6) (71.9) (71.9)