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

TSX:BITF - Toronto Stock Exchange - CA09173B1076 - Common Stock - Currency: CAD

1.41  -0.02 (-1.4%)

Fundamental Rating

4

Overall BITF gets a fundamental rating of 4 out of 10. We evaluated BITF against 63 industry peers in the Software industry. The financial health of BITF is average, but there are quite some concerns on its profitability. BITF shows excellent growth, but is valued quite expensive already.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

BITF had negative earnings in the past year.
BITF had a negative operating cash flow in the past year.
BITF had negative earnings in 4 of the past 5 years.
The reported operating cash flow has been mixed in the past 5 years: BITF reported negative operating cash flow in multiple 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

BITF has a Return On Assets of -8.10%. This is comparable to the rest of the industry: BITF outperforms 42.86% of its industry peers.
With a Return On Equity value of -8.89%, BITF perfoms like the industry average, outperforming 52.38% of the companies in the same industry.
Industry RankSector Rank
ROA -8.1%
ROE -8.89%
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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6

2. Health

2.1 Basic Checks

BITF does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, BITF has more shares outstanding
BITF has more shares outstanding than it did 5 years ago.
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 4.93. This indicates that BITF is financially healthy and has little risk of bankruptcy at the moment.
The Altman-Z score of BITF (4.93) is better than 74.60% of its industry peers.
A Debt/Equity ratio of 0.03 indicates that BITF is not too dependend on debt financing.
BITF's Debt to Equity ratio of 0.03 is fine compared to the rest of the industry. BITF outperforms 74.60% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF N/A
Altman-Z 4.93
ROIC/WACCN/A
WACC9.23%
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 5.89 indicates that BITF has no problem at all paying its short term obligations.
Looking at the Current ratio, with a value of 5.89, BITF belongs to the top of the industry, outperforming 85.71% of the companies in the same industry.
A Quick Ratio of 5.86 indicates that BITF has no problem at all paying its short term obligations.
BITF has a Quick ratio of 5.86. This is amongst the best in the industry. BITF outperforms 85.71% of its industry peers.
Industry RankSector Rank
Current Ratio 5.89
Quick Ratio 5.86
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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7

3. Growth

3.1 Past

BITF shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 57.70%, which is quite impressive.
The Revenue has grown by 31.78% in the past year. This is a very strong growth!
The Revenue has been growing by 42.85% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)57.7%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%115.77%
Revenue 1Y (TTM)31.78%
Revenue growth 3Y4.4%
Revenue growth 5Y42.85%
Sales Q2Q%21.46%

3.2 Future

Based on estimates for the next years, BITF will show a very strong growth in Earnings Per Share. The EPS will grow by 139.06% 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 Y49.01%
EPS Next 2Y139.06%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year91%
Revenue Next 2Y87.87%
Revenue Next 3Y61.97%
Revenue Next 5Y35.37%

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
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 -0.5 -1

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1

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for BITF. In the last year negative earnings were reported.
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 40

4.2 Price Multiples

BITF's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. BITF is cheaper than 68.25% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 13.76
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

A more expensive valuation may be justified as BITF's earnings are expected to grow with 139.06% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y139.06%
EPS Next 3YN/A

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0

5. Dividend

5.1 Amount

BITF does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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BITFARMS LTD/CANADA

TSX:BITF (5/2/2025, 7:00:00 PM)

1.41

-0.02 (-1.4%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)03-27 2025-03-27/bmo
Earnings (Next)05-19 2025-05-19/bmo
Inst Owners25.43%
Inst Owner ChangeN/A
Ins Owners0.08%
Ins Owner ChangeN/A
Market Cap760.27M
Analysts82.86
Price Target6.63 (370.21%)
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)93%
Min EPS beat(2)-12.04%
Max EPS beat(2)198.04%
EPS beat(4)2
Avg EPS beat(4)47.43%
Min EPS beat(4)-30.91%
Max EPS beat(4)198.04%
EPS beat(8)3
Avg EPS beat(8)-70.1%
EPS beat(12)4
Avg EPS beat(12)-364.7%
EPS beat(16)6
Avg EPS beat(16)-285.94%
Revenue beat(2)1
Avg Revenue beat(2)-4.82%
Min Revenue beat(2)-11.96%
Max Revenue beat(2)2.32%
Revenue beat(4)2
Avg Revenue beat(4)-5.15%
Min Revenue beat(4)-13.39%
Max Revenue beat(4)2.44%
Revenue beat(8)6
Avg Revenue beat(8)12.53%
Revenue beat(12)7
Avg Revenue beat(12)6.27%
Revenue beat(16)9
Avg Revenue beat(16)8.54%
PT rev (1m)0%
PT rev (3m)-3.7%
EPS NQ rev (1m)-100%
EPS NQ rev (3m)0%
EPS NY rev (1m)-275%
EPS NY rev (3m)-250%
Revenue NQ rev (1m)1.12%
Revenue NQ rev (3m)-0.11%
Revenue NY rev (1m)-8.66%
Revenue NY rev (3m)-7.37%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 2.85
P/FCF N/A
P/OCF N/A
P/B 0.9
P/tB 0.91
EV/EBITDA 13.76
EPS(TTM)-0.19
EYN/A
EPS(NY)-0.1
Fwd EYN/A
FCF(TTM)-1.23
FCFYN/A
OCF(TTM)-0.36
OCFYN/A
SpS0.49
BVpS1.56
TBVpS1.55
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -8.1%
ROE -8.89%
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
ROICexcg growth 3YN/A
ROICexcg 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-Score3
Asset Turnover0.29
Health
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF N/A
Debt/EBITDA 0.57
Cap/Depr 241.09%
Cap/Sales 176.2%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 5.89
Quick Ratio 5.86
Altman-Z 4.93
F-Score3
WACC9.23%
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)57.7%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%115.77%
EPS Next Y49.01%
EPS Next 2Y139.06%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)31.78%
Revenue growth 3Y4.4%
Revenue growth 5Y42.85%
Sales Q2Q%21.46%
Revenue Next Year91%
Revenue Next 2Y87.87%
Revenue Next 3Y61.97%
Revenue Next 5Y35.37%
EBIT growth 1Y-73.79%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year262.39%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-171.4%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-32.97%
OCF growth 3YN/A
OCF growth 5YN/A