CIFR - Cipher Mining Inc.
Price:
--
--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$27.90
DETAILS
HIGH:
$42.50
LOW:
$18.00
MEDIAN:
$25.00
CONSENSUS:
$27.90
UPSIDE:
26.99%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Revenue | ||||||
| Revenue | 223.9 | 151.3 | 126.8 | 3.0 | 0 | 0 |
| Cost of Revenue | 160.3 | 123.2 | 50.3 | 0.7 | 0.0 | 0 |
| Gross Profit | 63.6 | 28.1 | 76.5 | 2.3 | (0.0) | 0 |
| Operating Expenses | ||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 36.4 | 32.7 | 85.2 | 70.8 | 72.1 | 0.2 |
| Other Expenses | 364.6 | 39.2 | 11.5 | (31.1) | 0 | 0 |
| Operating Expenses | 401.0 | 71.8 | 96.6 | 39.7 | 72.1 | 0.2 |
| Operating Income | ||||||
| Operating Income | (337.4) | (43.7) | (20.1) | (37.4) | (72.2) | (0.2) |
| Interest Expense | 36.6 | 1.7 | 2.0 | 0.1 | 0.0 | 0 |
| Interest Income | 19.5 | 3.4 | 0.2 | 0.2 | 0 | 0.0 |
| Profitability | ||||||
| EBITDA | (588.4) | 61.1 | 39.7 | (31.9) | (72.1) | 1.1 |
| EBIT | (789.0) | (42.6) | (20.2) | (37.1) | (72.1) | 1.1 |
| Income Before Tax | (825.6) | (44.3) | (22.2) | (37.2) | (72.2) | 1.1 |
| Income Tax Expense | (3.3) | 0.3 | 3.6 | 1.8 | 0 | 0 |
| Net Income | (822.2) | (44.6) | (25.8) | (39.1) | (72.2) | 1.1 |
| Per Share Data | ||||||
| EPS (Basic) | -2.15 | -0.14 | -0.10 | -0.16 | -0.36 | -0.01 |
| EPS (Diluted) | -2.15 | -0.14 | -0.10 | -0.16 | -0.36 | -0.01 |
| Shares Outstanding | 381.6 | 323.1 | 252.4 | 248.2 | 218.0 | 214.8 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Current Assets | ||||||
| Cash & Cash Equivalents | 628.3 | 5.6 | 86.1 | 11.9 | 209.8 | 0 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 1.0 | 34.9 | 0.9 | 1.2 | 0 | 0 |
| Inventory | 125.4 | 92.7 | 33.0 | 6.3 | 0 | 0 |
| Other Current Assets | 1,890.3 | 35.0 | 35.5 | 21.1 | 0 | 0 |
| Total Current Assets | 2,652.9 | 168.2 | 155.5 | 47.7 | 223.7 | 0 |
| Non-Current Assets | ||||||
| Property, Plant & Equipment | 622.5 | 532.3 | 250.9 | 269.3 | 120.0 | 0.0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 77.4 | 8.9 | 8.1 | 0.6 | 0 | 0 |
| Long-Term Investments | 327.2 | 53.9 | 35.3 | 37.5 | 0 | 0 |
| Other Non-Current Assets | 249.0 | 92.2 | 116.4 | 63.4 | 10.5 | 0.2 |
| Total Non-Current Assets | 1,276 | 687.2 | 410.6 | 370.7 | 130.5 | 0.2 |
| Total Assets | 4,291.9 | 855.4 | 566.1 | 418.5 | 354.2 | 0.2 |
| Current Liabilities | ||||||
| Account Payables | 40.1 | 22.7 | 5.0 | 17.4 | 0.2 | 0.0 |
| Short-Term Debt | 37.8 | 32.3 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 35.3 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 489.9 | 9.6 | 6.4 | 0.2 | 0.0 | 0 |
| Total Current Liabilities | 699.1 | 131.8 | 33.8 | 40.3 | 0.5 | 0.2 |
| Non-Current Liabilities | ||||||
| Long-Term Debt | 2,711.6 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 4.3 | 5.2 | 1.8 | 0 | 0 |
| Other Non-Current Liabilities | 33.7 | 20.3 | 18.4 | 16.7 | 0.1 | 0 |
| Total Non-Current Liabilities | 2,757.0 | 41.7 | 41.0 | 35.2 | 0.1 | 0 |
| Total Liabilities | 3,456.1 | 173.5 | 74.8 | 75.6 | 0.6 | 0.2 |
| Stockholders' Equity | ||||||
| Common Stock | 0.4 | 0.4 | 0.3 | 0.3 | 0.3 | 0.2 |
| Retained Earnings | (1,003.7) | (181.4) | (136.8) | (111.2) | (72.2) | (0.0) |
| Accumulated Other Comprehensive Income | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Stockholders' Equity | 805.5 | 682.0 | 491.3 | 342.9 | 353.5 | (0.0) |
| Total Liabilities & Equity | 4,291.9 | 855.4 | 566.1 | 418.5 | 354.2 | 0.2 |
| Debt Metrics | ||||||
| Total Debt | 2,767.0 | 56.4 | 22.0 | 20.7 | 0 | 0 |
| Net Debt | 2,138.8 | 50.8 | (64.1) | 8.7 | (209.8) | 0 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Operating Activities | ||||||
| Net Income | (822.2) | (44.6) | (25.8) | (39.1) | (72.2) | (0.1) |
| Depreciation & Amortization | 200.6 | 103.7 | 59.9 | 5.2 | 0.0 | 0 |
| Stock-Based Compensation | 52.8 | 42.1 | 38.5 | 41.5 | 69.6 | 0 |
| Change in Working Capital | (68.0) | 18.3 | (10.7) | 0.8 | (23.3) | (0.2) |
| Other Non-Cash Items | 433.2 | (206.1) | (159.5) | (31.2) | 63.8 | (0.0) |
| Operating Cash Flow | (207.9) | (87.5) | (94.2) | (20.9) | (31.7) | (0.3) |
| Investing Activities | ||||||
| Capital Expenditure | (487.9) | (139.5) | (55.0) | (227.9) | (5.1) | 0 |
| Acquisitions | 0 | 0 | (3.5) | 0 | 0 | 0 |
| Purchases of Investments | 0 | 0 | 0 | 0 | 0 | (170) |
| Sales/Maturities of Investments | 0 | 0 | 111.2 | 0 | 0 | 0 |
| Other Investing Activities | 151.3 | 110.3 | (0.5) | 53.4 | (115.0) | 0 |
| Investing Cash Flow | (336.6) | (192.1) | 52.8 | (173.9) | (120.1) | (170) |
| Financing Activities | ||||||
| Net Debt Issuance | 3,116.0 | 19.5 | (12.9) | 0 | 0 | 0 |
| Stock Repurchased | (89.6) | (27.6) | (3.9) | (3.1) | (25.4) | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | 0 | (3.5) | (3.4) | 0 | 361.6 | 171.6 |
| Financing Cash Flow | 3,189.2 | 213.5 | 115.7 | (3.1) | 361.6 | 171.6 |
| Cash Position | ||||||
| Net Change in Cash | 2,644.7 | (66.1) | 74.2 | (197.9) | 208.6 | 1.3 |
| Cash at Beginning | 20.0 | 86.1 | 11.9 | 209.8 | 1.3 | 0 |
| Cash at End | 2,664.6 | 20.0 | 86.1 | 11.9 | 209.8 | 1.3 |
| Free Cash Flow | (695.9) | (227.0) | (149.3) | (248.8) | (36.8) | (0.3) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 223.9 | 151.3 | 126.8 | 3.0 | 0 | 0 |
| Gross Profit | 63.6 | 28.1 | 76.5 | 2.3 | (0.0) | 0 |
| Operating Income | (337.4) | (43.7) | (20.1) | (37.4) | (72.2) | (0.2) |
| Net Income | (822.2) | (44.6) | (25.8) | (39.1) | (72.2) | 1.1 |
| EPS (Diluted) | -2.15 | -0.14 | -0.10 | -0.16 | -0.36 | -0.01 |
| Balance Sheet | ||||||
| Cash & Equivalents | 628.3 | 5.6 | 86.1 | 11.9 | 209.8 | 0 |
| Total Assets | 4,291.9 | 855.4 | 566.1 | 418.5 | 354.2 | 0.2 |
| Total Debt | 2,767.0 | 56.4 | 22.0 | 20.7 | 0 | 0 |
| Stockholders' Equity | 805.5 | 682.0 | 491.3 | 342.9 | 353.5 | (0.0) |
| Cash Flow | ||||||
| Operating Cash Flow | (207.9) | (87.5) | (94.2) | (20.9) | (31.7) | (0.3) |
| Capital Expenditure | (487.9) | (139.5) | (55.0) | (227.9) | (5.1) | 0 |
| Free Cash Flow | (695.9) | (227.0) | (149.3) | (248.8) | (36.8) | (0.3) |