BITFARMS LTD/CANADA (BITF)

CA09173B1076 - Common Stock

1.92  +0.03 (+1.59%)

After market: 1.91 -0.01 (-0.52%)

Fundamental Rating

3

Taking everything into account, BITF scores 3 out of 10 in our fundamental rating. BITF was compared to 275 industry peers in the Software industry. While BITF seems to be doing ok healthwise, there are quite some concerns on its profitability. BITF is quite expensive at the moment. It does show a decent growth rate.



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1

1. Profitability

1.1 Basic Checks

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

1.2 Ratios

BITF's Return On Assets of -19.08% is on the low side compared to the rest of the industry. BITF is outperformed by 66.55% of its industry peers.
With a Return On Equity value of -22.09%, BITF perfoms like the industry average, outperforming 47.27% of the companies in the same industry.
Industry RankSector Rank
ROA -19.08%
ROE -22.09%
ROIC N/A
ROA(3y)-32.37%
ROA(5y)-25.46%
ROE(3y)-64.58%
ROE(5y)-48.81%
ROIC(3y)N/A
ROIC(5y)N/A

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

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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.
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 a worse debt to assets ratio.

2.2 Solvency

BITF has an Altman-Z score of 6.21. This indicates that BITF is financially healthy and has little risk of bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 6.21, BITF is in the better half of the industry, outperforming 76.36% of the companies in the same industry.
A Debt/Equity ratio of 0.05 indicates that BITF is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.05, BITF is in line with its industry, outperforming 59.27% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.05
Debt/FCF N/A
Altman-Z 6.21
ROIC/WACCN/A
WACC8.61%

2.3 Liquidity

A Current Ratio of 2.82 indicates that BITF has no problem at all paying its short term obligations.
Looking at the Current ratio, with a value of 2.82, BITF is in the better half of the industry, outperforming 74.18% of the companies in the same industry.
BITF has a Quick Ratio of 2.80. This indicates that BITF is financially healthy and has no problem in meeting its short term obligations.
The Quick ratio of BITF (2.80) is better than 73.45% of its industry peers.
Industry RankSector Rank
Current Ratio 2.82
Quick Ratio 2.8

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6

3. Growth

3.1 Past

BITF shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 75.35%, which is quite impressive.
Looking at the last year, BITF shows a very negative growth in Revenue. The Revenue has decreased by -27.33% in the last year.
The Revenue has been growing by 75.06% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)75.35%
EPS 3YN/A
EPS 5YN/A
EPS growth Q2Q88.7%
Revenue 1Y (TTM)-27.33%
Revenue growth 3Y63.78%
Revenue growth 5Y75.06%
Revenue growth Q2Q4.06%

3.2 Future

BITF is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 30.38% yearly.
BITF is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 38.51% yearly.
EPS Next Y84.21%
EPS Next 2Y43.58%
EPS Next 3Y30.38%
EPS Next 5YN/A
Revenue Next Year-25.93%
Revenue Next 2Y24.98%
Revenue Next 3Y38.51%
Revenue Next 5YN/A

3.3 Evolution

The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.

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3

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 quite expensively with a Price/Forward Earnings ratio of 29.87.
BITF's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. BITF is cheaper than 72.36% of the companies in the same industry.
BITF's Price/Forward Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 21.26.
Industry RankSector Rank
PE N/A
Fwd PE 29.87

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, BITF is valued a bit cheaper than the industry average as 67.64% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 52.04

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as BITF's earnings are expected to grow with 30.38% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y43.58%
EPS Next 3Y30.38%

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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 (4/19/2024, 7:00:00 PM)

After market: 1.91 -0.01 (-0.52%)

1.92

+0.03 (+1.59%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap579.56M
Analysts
Price Target
Dividend
Industry RankSector Rank
Dividend Yield N/A
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
Max EPS beat(2)
EPS beat(4)
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Avg EPS beat(8)
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Revenue beat(8)
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Revenue beat(12)
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Revenue beat(16)
Avg Revenue beat(16)
PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 29.87
P/S
P/FCF
P/OCF
P/B
P/tB
EV/EBITDA
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -19.08%
ROE -22.09%
ROCE
ROIC
ROICexc
ROICexgc
OM N/A
PM (TTM) N/A
GM N/A
FCFM
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.38
Health
Industry RankSector Rank
Debt/Equity 0.05
Debt/FCF
Debt/EBITDA
Cap/Depr
Cap/Sales
Interest Coverage
Cash Conversion
Profit Quality
Current Ratio 2.82
Quick Ratio 2.8
Altman-Z
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)75.35%
EPS 3YN/A
EPS 5Y
EPS growth Q2Q
EPS Next Y84.21%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)-27.33%
Revenue growth 3Y63.78%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y