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BITFARMS LTD/CANADA (BITF.CA) Stock Fundamental Analysis

Canada - TSX:BITF - CA09173B1076 - Common Stock

5.52 CAD
-0.79 (-12.52%)
Last: 10/22/2025, 7:00:00 PM
Fundamental Rating

3

Taking everything into account, BITF scores 3 out of 10 in our fundamental rating. BITF was compared to 62 industry peers in the Software industry. The financial health of BITF is average, but there are quite some concerns on its profitability. BITF is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

In the past year BITF has reported negative net income.
In the past year BITF has reported a negative cash flow from operations.
BITF had negative earnings in 4 of the past 5 years.
In multiple years BITF reported negative operating cash flow during the last 5 years.
BITF.CA Yearly Net Income VS EBIT VS OCF VS FCFBITF.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 0 -100M -200M -300M -400M

1.2 Ratios

The Return On Assets of BITF (-10.41%) is comparable to the rest of the industry.
The Return On Equity of BITF (-13.01%) is comparable to the rest of the industry.
Industry RankSector Rank
ROA -10.41%
ROE -13.01%
ROIC N/A
ROA(3y)-35.51%
ROA(5y)-26.79%
ROE(3y)-46.46%
ROE(5y)-47.92%
ROIC(3y)N/A
ROIC(5y)N/A
BITF.CA Yearly ROA, ROE, ROICBITF.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2017 2018 2019 2020 2021 2022 2023 2024 0 -20 -40 -60 -80 -100

1.3 Margins

The Profit Margin and Operating Margin and Gross Margin are not available for BITF so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
BITF.CA Yearly Profit, Operating, Gross MarginsBITF.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50 -100 -150

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5

2. Health

2.1 Basic Checks

BITF does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for BITF has been increased compared to 1 year ago.
Compared to 5 years ago, BITF has more shares outstanding
Compared to 1 year ago, BITF has an improved debt to assets ratio.
BITF.CA Yearly Shares OutstandingBITF.CA Yearly Shares OutstandingYearly Shares Outstanding 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M
BITF.CA Yearly Total Debt VS Total AssetsBITF.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

2.2 Solvency

BITF has an Altman-Z score of 7.55. This indicates that BITF is financially healthy and has little risk of bankruptcy at the moment.
The Altman-Z score of BITF (7.55) is better than 75.81% of its industry peers.
A Debt/Equity ratio of 0.11 indicates that BITF is not too dependend on debt financing.
BITF has a Debt to Equity ratio of 0.11. This is comparable to the rest of the industry: BITF outperforms 56.45% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.11
Debt/FCF N/A
Altman-Z 7.55
ROIC/WACCN/A
WACC10.23%
BITF.CA Yearly LT Debt VS Equity VS FCFBITF.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M -400M 600M

2.3 Liquidity

A Current Ratio of 3.11 indicates that BITF has no problem at all paying its short term obligations.
BITF has a better Current ratio (3.11) than 77.42% of its industry peers.
BITF has a Quick Ratio of 3.03. This indicates that BITF is financially healthy and has no problem in meeting its short term obligations.
The Quick ratio of BITF (3.03) is better than 79.03% of its industry peers.
Industry RankSector Rank
Current Ratio 3.11
Quick Ratio 3.03
BITF.CA Yearly Current Assets VS Current LiabilitesBITF.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M

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6

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 71.46% over the past year.
The Revenue has grown by 42.25% in the past year. This is a very strong growth!
Measured over the past years, BITF shows a very strong growth in Revenue. The Revenue has been growing by 42.85% on average per year.
EPS 1Y (TTM)71.46%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%71.43%
Revenue 1Y (TTM)42.25%
Revenue growth 3Y4.4%
Revenue growth 5Y42.85%
Sales Q2Q%87.25%

3.2 Future

Based on estimates for the next years, BITF will show a small growth in Earnings Per Share. The EPS will grow by 4.38% on average per year.
The Revenue is expected to grow by 35.37% on average over the next years. This is a very strong growth
EPS Next Y19.87%
EPS Next 2Y4.38%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year65.01%
Revenue Next 2Y35.38%
Revenue Next 3Y61.97%
Revenue Next 5Y35.37%

3.3 Evolution

The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
BITF.CA Yearly Revenue VS EstimatesBITF.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 200M 400M 600M 800M 1B
BITF.CA Yearly EPS VS EstimatesBITF.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 2025 2026 0 -0.5 -1

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0

4. Valuation

4.1 Price/Earnings Ratio

BITF reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Also next year BITF is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
Industry RankSector Rank
PE N/A
Fwd PE N/A
BITF.CA Price Earnings VS Forward Price EarningsBITF.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 -20 40 60 80

4.2 Price Multiples

BITF's Enterprise Value to EBITDA is on the same level as the industry average.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 133.85
BITF.CA Per share dataBITF.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 0.5 -0.5 1 -1 1.5

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y4.38%
EPS Next 3YN/A

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0

5. Dividend

5.1 Amount

No dividends for BITF!.
Industry RankSector Rank
Dividend Yield N/A

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BITFARMS LTD/CANADA

TSX:BITF (10/22/2025, 7:00:00 PM)

5.52

-0.79 (-12.52%)

Chartmill FA Rating
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)08-12 2025-08-12/bmo
Earnings (Next)11-11 2025-11-11/bmo
Inst Owners22.03%
Inst Owner ChangeN/A
Ins Owners0.11%
Ins Owner ChangeN/A
Market Cap3.10B
Revenue(TTM)245.66M
Net Income(TTM)-86203000
Analysts82.5
Price Target3.57 (-35.33%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-1.54%
Min EPS beat(2)-47.06%
Max EPS beat(2)43.98%
EPS beat(4)2
Avg EPS beat(4)45.73%
Min EPS beat(4)-47.06%
Max EPS beat(4)198.04%
EPS beat(8)3
Avg EPS beat(8)-73.92%
EPS beat(12)5
Avg EPS beat(12)-291.86%
EPS beat(16)6
Avg EPS beat(16)-276.19%
Revenue beat(2)0
Avg Revenue beat(2)-4.28%
Min Revenue beat(2)-6.48%
Max Revenue beat(2)-2.09%
Revenue beat(4)1
Avg Revenue beat(4)-4.55%
Min Revenue beat(4)-11.96%
Max Revenue beat(4)2.32%
Revenue beat(8)4
Avg Revenue beat(8)6.81%
Revenue beat(12)7
Avg Revenue beat(12)6.82%
Revenue beat(16)7
Avg Revenue beat(16)3.38%
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)N/A
EPS NY rev (1m)29.03%
EPS NY rev (3m)-57.14%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-8.5%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-13.61%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 9.01
P/FCF N/A
P/OCF N/A
P/B 3.34
P/tB 3.36
EV/EBITDA 133.85
EPS(TTM)-0.14
EYN/A
EPS(NY)-0.18
Fwd EYN/A
FCF(TTM)-1.28
FCFYN/A
OCF(TTM)-0.65
OCFYN/A
SpS0.61
BVpS1.65
TBVpS1.64
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -10.41%
ROE -13.01%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM N/A
FCFM N/A
ROA(3y)-35.51%
ROA(5y)-26.79%
ROE(3y)-46.46%
ROE(5y)-47.92%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score2
Asset Turnover0.3
Health
Industry RankSector Rank
Debt/Equity 0.11
Debt/FCF N/A
Debt/EBITDA 4.31
Cap/Depr 210.27%
Cap/Sales 102.81%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 3.11
Quick Ratio 3.03
Altman-Z 7.55
F-Score2
WACC10.23%
ROIC/WACCN/A
Cap/Depr(3y)198.14%
Cap/Depr(5y)284.61%
Cap/Sales(3y)120.6%
Cap/Sales(5y)97.75%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)71.46%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%71.43%
EPS Next Y19.87%
EPS Next 2Y4.38%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)42.25%
Revenue growth 3Y4.4%
Revenue growth 5Y42.85%
Sales Q2Q%87.25%
Revenue Next Year65.01%
Revenue Next 2Y35.38%
Revenue Next 3Y61.97%
Revenue Next 5Y35.37%
EBIT growth 1Y-37.74%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year181.29%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-1250.68%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-1419.56%
OCF growth 3YN/A
OCF growth 5YN/A