MARA Stock Analysis: Marathon Digital Holdings | NASDAQ
Capital Markets | NASDAQ, USA | Market Cap: 4.122m USD | 12M Return: -27% | US5657881067 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 469M
Qual. Beats: 0
Rev. Trend: 90.0%
Qual. Beats: -1
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
MARA Holdings, Inc. (NASDAQ: MARA) is a U.S.-based energy and digital infrastructure company operating across North America, the Middle East, Europe, and Latin America. Incorporated in 2010 and headquartered in Hallandale Beach, Florida, the company was renamed from Marathon Digital Holdings, Inc. in August 2024 to reflect its expanded focus beyond cryptocurrency mining.
The companys business model combines Bitcoin mining with AI compute services, allowing it to monetize excess energy and underutilized power capacity. This dual approach also supports power management optimization across its operations and enables AI inference applications. Listed in the Information Technology sector under Application Software, MARA represents the convergence of digital asset mining and high-performance computing, with operators increasingly repurposing or co-locating power-intensive mining infrastructure to serve AI and cloud compute demand.
- Bitcoin price swings drive mining segment revenue
- AI compute diversification reduces bitcoin mining dependency
- Energy costs and hashprice pressure mining margins
| Net Income: -3.46b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.36 > 0.02 and ΔFCF/TA -16.34 > 1.0 |
| NWC/Revenue: -8.04% < 20% (prev -25.62%; Δ 17.58% < -1%) |
| CFO/TA -0.26 > 3% & CFO -1.14b > Net Income -3.46b |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 0.89 > 1.5 & < 3 |
| Outstanding Shares: last quarter (381.6m) vs 12m ago -13.46% < -2% |
| Gross Margin: -8.46% > 18% (prev 30.98%; Δ -39.44% > 0.5%) |
| Asset Turnover: 13.33% > 50% (prev 10.34%; Δ 2.99% > 0%) |
| Interest Coverage Ratio: -60.11 > 6 (EBIT TTM -2.56b / Interest Expense TTM 42.6m) |
| A: -0.01 (Total Current Assets 527.2m - Total Current Liabilities 591.8m) / Total Assets 4.35b |
| B: -0.74 (Retained Earnings -3.21b / Total Assets 4.35b) |
| C: -0.42 (EBIT TTM -2.56b / Avg Total Assets 6.04b) |
| D: 0.64 (Book Value of Equity 1.66b / Total Liabilities 2.59b) |
| Altman-Z'' = -4.68 = D |
| DSRI: 0.88 (Receivables 27.5m/31.0m, Revenue 804.2m/798.4m) |
| GMI: 1.00 (fallback, negative margins) |
| AQI: 0.78 (AQ_t 0.59 / AQ_t-1 0.75) |
| SGI: 1.01 (Revenue 804.2m / 798.4m) |
| TATA: -0.53 (NI -3.46b - CFO -1.14b) / TA 4.35b) |
| Beneish M = -3.30 (Cap -4..+1) = AA |
As of September 04, 2026, the stock is trading at USD 11.60 with a total of 68,928,569 shares traded. Over the past week, the price has changed by -2.27%, over one month by -1.28%, over three months by -16.91% and over the past year by -27.00%.
Current recommended Stop Loss: 9.30 (which is 19.8% or 2.5 ATR below the current price).
Marathon Digital Holdings has received a consensus analysts rating of 3.53. Therefore, it is recommended to hold MARA.
- StrongBuy: 4
- Buy: 2
- Hold: 8
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 18 | 55.1% |
P/E Forward = 39.5257
P/S = 5.1252
P/B = 2.7613
P/EG = 0.0971
Revenue TTM = 804.2m USD
EBIT TTM = -2.56b USD
EBITDA TTM = -1.74b USD
Long Term Debt = 1.93b USD (from longTermDebt, last quarter)
Short Term Debt = 488.9m USD (from shortTermDebt, last quarter)
Debt = 2.51b USD (from shortLongTermDebtTotal, last quarter) + Leases 48.2m
Net Debt = 2.09b USD (calculated: Debt 2.51b - CCE 421.3m)
Enterprise Value = 6.21b USD (4.12b + Debt 2.51b - CCE 421.3m)
Interest Coverage Ratio = -60.11 (Ebit TTM -2.56b / Interest Expense TTM 42.6m)
EV/FCF = -3.97x (Enterprise Value 6.21b / FCF TTM -1.57b)
FCF Yield = -25.19% (FCF TTM -1.57b / Enterprise Value 6.21b)
FCF Margin = -194.7% (FCF TTM -1.57b / Revenue TTM 804.2m)
Net Margin = -429.7% (Net Income TTM -3.46b / Revenue TTM 804.2m)
Gross Margin = -8.46% ((Revenue TTM 804.2m - Cost of Revenue TTM 872.3m) / Revenue TTM)
Gross Margin QoQ = 72.12% (prev -92.98%)
Tobins Q-Ratio = 1.43 (Enterprise Value 6.21b / Total Assets 4.35b)
Interest Expense / Debt = 1.69% (Interest Expense 42.6m / Debt 2.51b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -2.02b (EBIT -2.56b * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 0.89 (Total Current Assets 527.2m / Total Current Liabilities 591.8m)
Debt / Equity = 1.51 (Debt 2.51b / totalStockholderEquity, last quarter 1.66b)
Debt / EBITDA = -1.20 (negative EBITDA) (Net Debt 2.09b / EBITDA -1.74b)
Debt / FCF = -1.34 (negative FCF - burning cash) (Net Debt 2.09b / FCF TTM -1.57b)
Total Stockholder Equity = 3.13b (last 4 quarters mean from totalStockholderEquity)
RoA = -57.26% (Net Income -3.46b / Total Assets 4.35b)
RoE = -110.4% (Net Income TTM -3.46b / Total Stockholder Equity 3.13b)
RoCE = -50.56% (EBIT -2.56b / Capital Employed (Equity 3.13b + L.T.Debt 1.93b))
RoIC = -48.09% (negative operating profit) (NOPAT -2.02b / Invested Capital 4.21b)
WACC = 10.08% (E(4.12b)/V(6.64b) * Re(15.41%) + D(2.51b)/V(6.64b) * Rd(1.69%) * (1-Tc(0.21)))
Discount Rate = 15.41% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 60.85 | Cagr: 17.02%
[DCF] Fair Price = unknown (Cash Flow -1.57b)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.10 | # QB: 0
Revenue Correlation: 90.02 | Revenue CAGR: 46.35% | SUE: -1.49 | # QB: -1
EPS current Quarter (2026-09-30): EPS=-0.33 | Chg30d=-266.67% | Revisions=+0% | Analysts=2
EPS current Year (2026-12-31): EPS=-4.98 | Chg30d=-32.98% | Revisions=+0% | GrowthEPS=-169.7% | GrowthRev=-22.7%
EPS next Year (2027-12-31): EPS=-1.15 | Chg30d=+16.97% | Revisions=+0% | GrowthEPS=+76.9% | GrowthRev=+11.6%
[Analyst] Revisions Ratio: +0% (up=0, down=0)