(MARA) Marathon Digital Holdings - Overview
Stock: Bitcoin Mining, Data Center Tech, Liquid Cooling, Mining Firmware
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 94.2% |
| Relative Tail Risk | -11.3% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.79 |
| Alpha | -87.38 |
| Character TTM | |
|---|---|
| Beta | 2.179 |
| Beta Downside | 1.716 |
| Drawdowns 3y | |
|---|---|
| Max DD | 78.34% |
| CAGR/Max DD | 0.05 |
Description: MARA Marathon Digital Holdings January 08, 2026
MARA Holdings, Inc. (NASDAQ: MARA) is a U.S.-based digital-asset technology firm that designs and operates Bitcoin mining infrastructure across the United States and Europe. The company’s core services include deploying high-efficiency mining hardware, implementing liquid-immersion cooling, and supplying firmware that maximizes hash-rate output while reducing energy consumption. Formerly Marathon Digital Holdings, it rebranded to MARA Holdings in August 2024 and remains headquartered in Hallandale Beach, Florida.
Key operational metrics (as of Q4 2023) show a hash-rate of roughly 12 EH/s, placing MARA among the top-10 U.S. miners, and an average mining cost of about $0.09 per kWh-significantly lower than the industry median of $0.12 /kWh. The firm’s earnings are tightly linked to Bitcoin’s price (a 10 % rise in BTC typically lifts MARA’s quarterly revenue by 8-9 %) and to regulatory developments in the U.S. that affect energy-intensive crypto activities. Capital-expenditure trends indicate a planned $500 million rollout of next-generation ASICs through 2025, which should boost energy efficiency by ~15 %.
For a deeper, data-driven view of MARA’s valuation dynamics, consider exploring the analytics platform ValueRay.
Piotroski VR‑10 (Strict, 0-10) 4.5
| Net Income: 926.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.14 > 0.02 and ΔFCF/TA -4.24 > 1.0 |
| NWC/Revenue: 54.67% < 20% (prev 29.99%; Δ 24.68% < -1%) |
| CFO/TA -0.10 > 3% & CFO -891.4m > Net Income 926.7m |
| Net Debt (2.82b) to EBITDA (1.84b): 1.53 < 3 |
| Current Ratio: 2.09 > 1.5 & < 3 |
| Outstanding Shares: last quarter (470.1m) vs 12m ago 59.40% < -2% |
| Gross Margin: 56.97% > 18% (prev 0.26%; Δ 5672 % > 0.5%) |
| Asset Turnover: 14.44% > 50% (prev 16.72%; Δ -2.29% > 0%) |
| Interest Coverage Ratio: 27.89 > 6 (EBITDA TTM 1.84b / Interest Expense TTM 43.6m) |
Altman Z'' 1.87
| A: 0.05 (Total Current Assets 961.9m - Total Current Liabilities 459.4m) / Total Assets 9.15b |
| B: 0.04 (Retained Earnings 371.8m / Total Assets 9.15b) |
| C: 0.19 (EBIT TTM 1.22b / Avg Total Assets 6.37b) |
| D: 0.09 (Book Value of Equity 371.8m / Total Liabilities 3.98b) |
| Altman-Z'' Score: 1.87 = BBB |
Beneish M 1.00
| DSRI: 7.73 (Receivables 33.1m/2.79m, Revenue 919.2m/598.8m) |
| GMI: 0.45 (GM 56.97% / 25.73%) |
| AQI: 1.16 (AQ_t 0.72 / AQ_t-1 0.63) |
| SGI: 1.54 (Revenue 919.2m / 598.8m) |
| TATA: 0.20 (NI 926.7m - CFO -891.4m) / TA 9.15b) |
| Beneish M-Score: 2.69 (Cap -4..+1) = D |
What is the price of MARA shares?
Over the past week, the price has changed by -31.74%, over one month by -36.45%, over three months by -60.71% and over the past year by -60.48%.
Is MARA a buy, sell or hold?
- StrongBuy: 4
- Buy: 2
- Hold: 8
- Sell: 0
- StrongSell: 1
What are the forecasts/targets for the MARA price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 20.7 | 207% |
| Analysts Target Price | 20.7 | 207% |
| ValueRay Target Price | 6.5 | -3.9% |
MARA Fundamental Data Overview February 03, 2026
P/E Forward = 39.5257
P/S = 3.9087
P/B = 0.7229
Revenue TTM = 919.2m USD
EBIT TTM = 1.22b USD
EBITDA TTM = 1.84b USD
Long Term Debt = 3.25b USD (from longTermDebt, last quarter)
Short Term Debt = 351.5m USD (from shortTermDebt, last quarter)
Debt = 3.64b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.82b USD (from netDebt column, last quarter)
Enterprise Value = 6.41b USD (3.59b + Debt 3.64b - CCE 826.4m)
Interest Coverage Ratio = 27.89 (Ebit TTM 1.22b / Interest Expense TTM 43.6m)
EV/FCF = -4.84x (Enterprise Value 6.41b / FCF TTM -1.32b)
FCF Yield = -20.65% (FCF TTM -1.32b / Enterprise Value 6.41b)
FCF Margin = -144.0% (FCF TTM -1.32b / Revenue TTM 919.2m)
Net Margin = 100.8% (Net Income TTM 926.7m / Revenue TTM 919.2m)
Gross Margin = 56.97% ((Revenue TTM 919.2m - Cost of Revenue TTM 395.5m) / Revenue TTM)
Gross Margin QoQ = 82.93% (prev 82.50%)
Tobins Q-Ratio = 0.70 (Enterprise Value 6.41b / Total Assets 9.15b)
Interest Expense / Debt = 0.35% (Interest Expense 12.8m / Debt 3.64b)
Taxrate = 23.43% (37.7m / 160.8m)
NOPAT = 930.3m (EBIT 1.22b * (1 - 23.43%))
Current Ratio = 2.09 (Total Current Assets 961.9m / Total Current Liabilities 459.4m)
Debt / Equity = 0.71 (Debt 3.64b / totalStockholderEquity, last quarter 5.16b)
Debt / EBITDA = 1.53 (Net Debt 2.82b / EBITDA 1.84b)
Debt / FCF = -2.13 (negative FCF - burning cash) (Net Debt 2.82b / FCF TTM -1.32b)
Total Stockholder Equity = 4.45b (last 4 quarters mean from totalStockholderEquity)
RoA = 14.56% (Net Income 926.7m / Total Assets 9.15b)
RoE = 20.82% (Net Income TTM 926.7m / Total Stockholder Equity 4.45b)
RoCE = 15.78% (EBIT 1.22b / Capital Employed (Equity 4.45b + L.T.Debt 3.25b))
RoIC = 12.81% (NOPAT 930.3m / Invested Capital 7.26b)
WACC = 7.06% (E(3.59b)/V(7.24b) * Re(13.95%) + D(3.64b)/V(7.24b) * Rd(0.35%) * (1-Tc(0.23)))
Discount Rate = 13.95% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 41.94%
Fair Price DCF = unknown (Cash Flow -1.32b)
EPS Correlation: 39.66 | EPS CAGR: 1.54% | SUE: 0.29 | # QB: 0
Revenue Correlation: 79.65 | Revenue CAGR: 46.50% | SUE: -0.14 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.13 | Chg30d=+0.000 | Revisions Net=-1 | Analysts=2
EPS next Year (2026-12-31): EPS=-0.27 | Chg30d=+0.000 | Revisions Net=+0 | Growth EPS=-151.4% | Growth Revenue=+16.7%