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BIT ORIGIN LTD-CL A (BTOG) Stock Fundamental Analysis

USA - Nasdaq - NASDAQ:BTOG - KYG216211188 - Common Stock

0.1905 USD
+0 (+1.87%)
Last: 1/9/2026, 11:55:00 AM
Fundamental Rating

2

Taking everything into account, BTOG scores 2 out of 10 in our fundamental rating. BTOG was compared to 276 industry peers in the Software industry. No worries on liquidiy or solvency for BTOG as it has an excellent financial health rating, but there are worries on the profitability. BTOG has a expensive valuation and it also scores bad on growth.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

BTOG had negative earnings in the past year.
BTOG had a negative operating cash flow in the past year.
In the past 5 years BTOG reported 4 times negative net income.
In the past 5 years BTOG always reported negative operating cash flow.
BTOG Yearly Net Income VS EBIT VS OCF VS FCFBTOG Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 -10M -20M -30M -40M

1.2 Ratios

BTOG's Return On Assets of -184.76% is on the low side compared to the rest of the industry. BTOG is outperformed by 96.74% of its industry peers.
The Return On Equity of BTOG (-167.53%) is worse than 81.88% of its industry peers.
Industry RankSector Rank
ROA -184.76%
ROE -167.53%
ROIC N/A
ROA(3y)-219.54%
ROA(5y)-152.2%
ROE(3y)-499%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
BTOG Yearly ROA, ROE, ROICBTOG Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500 -500 1K -1K

1.3 Margins

With an excellent Gross Margin value of 100.00%, BTOG belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
BTOG does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 100%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
BTOG Yearly Profit, Operating, Gross MarginsBTOG Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 -5K -10K -15K

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7

2. Health

2.1 Basic Checks

BTOG does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, BTOG has more shares outstanding
Compared to 5 years ago, BTOG has more shares outstanding
BTOG has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
BTOG Yearly Shares OutstandingBTOG Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10M 20M 30M 40M 50M
BTOG Yearly Total Debt VS Total AssetsBTOG Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M

2.2 Solvency

BTOG has an Altman-Z score of -64.22. This is a bad value and indicates that BTOG is not financially healthy and even has some risk of bankruptcy.
With a Altman-Z score value of -64.22, BTOG is not doing good in the industry: 95.65% of the companies in the same industry are doing better.
BTOG has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Altman-Z -64.22
ROIC/WACCN/A
WACC11.01%
BTOG Yearly LT Debt VS Equity VS FCFBTOG Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10M -10M 20M -20M 30M

2.3 Liquidity

A Current Ratio of 9.50 indicates that BTOG has no problem at all paying its short term obligations.
The Current ratio of BTOG (9.50) is better than 94.20% of its industry peers.
BTOG has a Quick Ratio of 9.50. This indicates that BTOG is financially healthy and has no problem in meeting its short term obligations.
BTOG's Quick ratio of 9.50 is amongst the best of the industry. BTOG outperforms 94.20% of its industry peers.
Industry RankSector Rank
Current Ratio 9.5
Quick Ratio 9.5
BTOG Yearly Current Assets VS Current LiabilitesBTOG Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10M 20M 30M 40M 50M

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0

3. Growth

3.1 Past

BTOG shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 87.41%, which is quite impressive.
Looking at the last year, BTOG shows a very negative growth in Revenue. The Revenue has decreased by -98.63% in the last year.
The Revenue for BTOG have been decreasing by -41.76% on average. This is quite bad
EPS 1Y (TTM)87.41%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%93.51%
Revenue 1Y (TTM)-98.63%
Revenue growth 3Y-41.76%
Revenue growth 5YN/A
Sales Q2Q%N/A

3.2 Future

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
BTOG Yearly Revenue VS EstimatesBTOG Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2016 2017 2018 2022 2023 2024 2025 20M 40M 60M 80M 100M

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0

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for BTOG. In the last year negative earnings were reported.
Industry RankSector Rank
PE N/A
Fwd PE N/A
BTOG Price Earnings VS Forward Price EarningsBTOG Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 0 0 0 0 0 0 0 0 0 0

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
BTOG Per share dataBTOG EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 -0.1 -0.2 -0.3 -0.4

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2YN/A
EPS Next 3YN/A

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0

5. Dividend

5.1 Amount

BTOG does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

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BIT ORIGIN LTD-CL A

NASDAQ:BTOG (1/9/2026, 11:55:00 AM)

0.1905

+0 (+1.87%)

Chartmill FA Rating
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)12-24 2025-12-24
Earnings (Next)04-06 2026-04-06
Inst Owners0.93%
Inst Owner ChangeN/A
Ins Owners0.87%
Ins Owner ChangeN/A
Market Cap17.03M
Revenue(TTM)39.50K
Net Income(TTM)-6.53M
AnalystsN/A
Price TargetN/A
Short Float %0.43%
Short Ratio0.22
Dividend
Industry RankSector Rank
Dividend Yield 0%
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)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)N/A
PT rev (3m)N/A
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 431.06
P/FCF N/A
P/OCF N/A
P/B 4.37
P/tB 4.37
EV/EBITDA N/A
EPS(TTM)-0.44
EYN/A
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)-0.03
FCFYN/A
OCF(TTM)-0.03
OCFYN/A
SpS0
BVpS0.04
TBVpS0.04
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -184.76%
ROE -167.53%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 100%
FCFM N/A
ROA(3y)-219.54%
ROA(5y)-152.2%
ROE(3y)-499%
ROE(5y)N/A
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-Score5
Asset Turnover0.01
Health
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 9.5
Quick Ratio 9.5
Altman-Z -64.22
F-Score5
WACC11.01%
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)87.41%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%93.51%
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-98.63%
Revenue growth 3Y-41.76%
Revenue growth 5YN/A
Sales Q2Q%N/A
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y49.86%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y71.11%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y71.11%
OCF growth 3YN/A
OCF growth 5YN/A

BIT ORIGIN LTD-CL A / BTOG FAQ

What is the fundamental rating for BTOG stock?

ChartMill assigns a fundamental rating of 2 / 10 to BTOG.


What is the valuation status of BIT ORIGIN LTD-CL A (BTOG) stock?

ChartMill assigns a valuation rating of 0 / 10 to BIT ORIGIN LTD-CL A (BTOG). This can be considered as Overvalued.


How profitable is BIT ORIGIN LTD-CL A (BTOG) stock?

BIT ORIGIN LTD-CL A (BTOG) has a profitability rating of 1 / 10.