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BITFARMS LTD/CANADA (BITF) Stock Fundamental Analysis

NASDAQ:BITF - Nasdaq - CA09173B1076 - Common Stock - Currency: USD

1.0575  -0.03 (-2.98%)

Fundamental Rating

4

Overall BITF gets a fundamental rating of 4 out of 10. We evaluated BITF against 283 industry peers in the Software industry. BITF scores quite bad on profitability, while its financial health is fine. Not spectacular, but in line with the averages. BITF is growing strongly while it is still valued neutral. This is a good combination!


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.
BITF had a negative operating cash flow in the past year.
In the past 5 years BITF reported 4 times negative net income.
The reported operating cash flow has been mixed in the past 5 years: BITF reported negative operating cash flow in multiple years.
BITF Yearly Net Income VS EBIT VS OCF VS FCFBITF 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

With a Return On Assets value of -8.10%, BITF perfoms like the industry average, outperforming 42.05% of the companies in the same industry.
The Return On Equity of BITF (-8.89%) is comparable to the rest of the 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 Yearly ROA, ROE, ROICBITF Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2017 2018 2019 2020 2021 2022 2023 2024 0 -20 -40 -60 -80 -100

1.3 Margins

BITF does not have Profit Margin and Operating Margin and Gross Margin available, so we won't be analyzing them here.
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 Yearly Profit, Operating, Gross MarginsBITF 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
The number of shares outstanding for BITF has been increased compared to 5 years ago.
BITF has a better debt/assets ratio than last year.
BITF Yearly Shares OutstandingBITF Yearly Shares OutstandingYearly Shares Outstanding 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M
BITF Yearly Total Debt VS Total AssetsBITF 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

An Altman-Z score of 5.47 indicates that BITF is not in any danger for bankruptcy at the moment.
BITF has a better Altman-Z score (5.47) than 71.38% of its industry peers.
A Debt/Equity ratio of 0.03 indicates that BITF is not too dependend on debt financing.
The Debt to Equity ratio of BITF (0.03) is better than 60.42% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF N/A
Altman-Z 5.47
ROIC/WACCN/A
WACC9.55%
BITF Yearly LT Debt VS Equity VS FCFBITF 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

BITF has a Current Ratio of 5.89. This indicates that BITF is financially healthy and has no problem in meeting its short term obligations.
The Current ratio of BITF (5.89) is better than 89.40% of its industry peers.
BITF has a Quick Ratio of 5.86. This indicates that BITF is financially healthy and has no problem in meeting its short term obligations.
BITF has a better Quick ratio (5.86) than 89.40% of its industry peers.
Industry RankSector Rank
Current Ratio 5.89
Quick Ratio 5.86
BITF Yearly Current Assets VS Current LiabilitesBITF 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

The Earnings Per Share has grown by an impressive 55.97% over the past year.
BITF shows a strong growth in Revenue. In the last year, the Revenue has grown by 31.78%.
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)55.97%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-49.78%
Revenue 1Y (TTM)31.78%
Revenue growth 3Y4.4%
Revenue growth 5Y42.85%
Sales Q2Q%32.85%

3.2 Future

BITF is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 139.06% yearly.
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

The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
BITF Yearly Revenue VS EstimatesBITF 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 Yearly EPS VS EstimatesBITF Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 2025 2026 0 0.5 -0.5 -1

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5

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for BITF. In the last year negative earnings were reported.
BITF is valuated cheaply with a Price/Forward Earnings ratio of 2.03.
Based on the Price/Forward Earnings ratio, BITF is valued cheaply inside the industry as 100.00% of the companies are valued more expensively.
BITF's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 21.85.
Industry RankSector Rank
PE N/A
Fwd PE 2.03
BITF Price Earnings VS Forward Price EarningsBITF 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 rather cheap when compared to the industry. BITF is cheaper than 86.57% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 15.18
BITF Per share dataBITF EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 0.5 -0.5 1

4.3 Compensation for Growth

BITF's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
BITF's earnings are expected to grow with 139.06% in the coming years. This may justify a more expensive valuation.
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

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

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BITFARMS LTD/CANADA

NASDAQ:BITF (5/23/2025, 9:47:01 AM)

1.0575

-0.03 (-2.98%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)05-14 2025-05-14/bmo
Earnings (Next)08-06 2025-08-06/bmo
Inst Owners25.43%
Inst Owner Change-10.2%
Ins Owners0.08%
Ins Owner ChangeN/A
Market Cap585.47M
Analysts82.86
Price Target4.79 (352.96%)
Short Float %11.72%
Short Ratio2.8
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)3.56%
PT rev (3m)-0.13%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)-250%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)1.12%
Revenue NY rev (1m)-8.66%
Revenue NY rev (3m)-7.37%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 2.03
P/S 3.04
P/FCF N/A
P/OCF N/A
P/B 0.96
P/tB 0.97
EV/EBITDA 15.18
EPS(TTM)-0.15
EYN/A
EPS(NY)0.52
Fwd EY49.19%
FCF(TTM)-0.87
FCFYN/A
OCF(TTM)-0.25
OCFYN/A
SpS0.35
BVpS1.1
TBVpS1.09
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 5.47
F-Score3
WACC9.55%
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)55.97%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-49.78%
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%32.85%
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