(MARA) Marathon Digital Holdings - Overview
Sector: Financial Services | Industry: Capital Markets | Exchange: NASDAQ (USA) | Market Cap: 4.644m USD | Total Return: -11.8% in 12m
Avg Turnover: 509M
Qual. Beats: 0
Rev. Trend: 92.2%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Confidence
MARA Holdings, Inc., formerly Marathon Digital Holdings, operates as a global energy and digital infrastructure firm specializing in Bitcoin mining and artificial intelligence compute. The company focuses on monetizing excess energy and optimizing power management through high-performance data centers across North America, Europe, the Middle East, and Latin America.
The business model relies on large-scale hardware deployments that convert electricity into digital assets, a process where profitability is highly sensitive to both energy costs and the network difficulty of the underlying blockchain. Recently, the sector has seen a shift toward diversifying revenue streams by repurposing infrastructure for AI inference applications to stabilize cash flows against cryptocurrency volatility.
For a detailed breakdown of the companys valuation metrics, consider reviewing the data on ValueRay. Founded in 2010 and headquartered in Florida, MARA continues to scale its proprietary technology to integrate digital asset production with broader energy grid management.
- Bitcoin price volatility directly dictates revenue and digital asset balance sheet valuation
- Energy procurement costs and power management efficiency determine mining operational margins
- Global hash rate competition and network difficulty impact total Bitcoin production volume
- Expansion into AI compute infrastructure diversifies revenue beyond cryptocurrency mining operations
- Regulatory shifts in energy consumption and digital asset taxation influence investor sentiment
| Net Income: -2.04b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.08 > 0.02 and ΔFCF/TA 11.34 > 1.0 |
| NWC/Revenue: 32.22% < 20% (prev -10.86%; Δ 43.08% < -1%) |
| CFO/TA 0.01 > 3% & CFO 62.7m > Net Income -2.04b |
| Net Debt (1.98b) to EBITDA (1.43b): 1.39 < 3 |
| Current Ratio: 1.84 > 1.5 & < 3 |
| Outstanding Shares: last quarter (380.2m) vs 12m ago 10.48% < -2% |
| Gross Margin: 0.30% > 18% (prev 0.14%; Δ 15.42% > 0.5%) |
| Asset Turnover: 15.23% > 50% (prev 10.94%; Δ 4.29% > 0%) |
| Interest Coverage Ratio: 12.66 > 6 (EBITDA TTM 1.43b / Interest Expense TTM 49.2m) |
| A: 0.06 (Total Current Assets 611.1m - Total Current Liabilities 331.5m) / Total Assets 4.95b |
| B: -0.52 (Retained Earnings -2.60b / Total Assets 4.95b) |
| C: 0.11 (EBIT TTM 622.4m / Avg Total Assets 5.70b) |
| D: -0.99 (Book Value of Equity -2.60b / Total Liabilities 2.62b) |
| Altman-Z'' = -1.65 = D |
| DSRI: 2.41 (Receivables 25.6m/8.63m, Revenue 867.8m/705.1m) |
| GMI: 48.36 (GM 0.30% / 14.44%) |
| AQI: 0.83 (AQ_t 0.59 / AQ_t-1 0.71) |
| SGI: 1.23 (Revenue 867.8m / 705.1m) |
| TATA: -0.42 (NI -2.04b - CFO 62.7m) / TA 4.95b) |
| Beneish M = 40.68 (Cap -4..+1) = D |
As of May 24, 2026, the stock is trading at USD 13.55 with a total of 34,040,382 shares traded.
Over the past week, the price has changed by +11.01%,
over one month by +16.64%,
over three months by +75.25% and
over the past year by -11.76%.
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 | 18.2 | 34.1% |
P/S = 5.3512
P/B = 2.125
P/EG = 0.0971
Revenue TTM = 867.8m USD
EBIT TTM = 622.4m USD
EBITDA TTM = 1.43b USD
Long Term Debt = 2.22b USD (from longTermDebt, last quarter)
Short Term Debt = 200.7m USD (from shortTermDebt, last quarter)
Debt = 2.51b USD (from shortLongTermDebtTotal, last quarter) + Leases 47.8m
Net Debt = 1.98b USD (calculated: Debt 2.51b - CCE 527.6m)
Enterprise Value = 6.63b USD (4.64b + Debt 2.51b - CCE 527.6m)
Interest Coverage Ratio = 12.66 (Ebit TTM 622.4m / Interest Expense TTM 49.2m)
EV/FCF = -17.22x (Enterprise Value 6.63b / FCF TTM -385.0m)
FCF Yield = -5.81% (FCF TTM -385.0m / Enterprise Value 6.63b)
FCF Margin = -44.37% (FCF TTM -385.0m / Revenue TTM 867.8m)
Net Margin = -234.8% (Net Income TTM -2.04b / Revenue TTM 867.8m)
Gross Margin = 0.30% ((Revenue TTM 867.8m - Cost of Revenue TTM 865.2m) / Revenue TTM)
Gross Margin QoQ = -92.98% (prev -119.2%)
Tobins Q-Ratio = 1.34 (Enterprise Value 6.63b / Total Assets 4.95b)
Interest Expense / Debt = 1.96% (Interest Expense 49.2m / Debt 2.51b)
Taxrate = 21.0% (US default 21%)
NOPAT = 491.7m (EBIT 622.4m * (1 - 21.00%))
Current Ratio = 1.84 (Total Current Assets 611.1m / Total Current Liabilities 331.5m)
Debt / Equity = 1.13 (Debt 2.51b / totalStockholderEquity, last quarter 2.23b)
Debt / EBITDA = 1.39 (Net Debt 1.98b / EBITDA 1.43b)
Debt / FCF = -5.15 (negative FCF - burning cash) (Net Debt 1.98b / FCF TTM -385.0m)
Total Stockholder Equity = 3.91b (last 4 quarters mean from totalStockholderEquity)
RoA = -35.77% (Net Income -2.04b / Total Assets 4.95b)
RoE = -31.30% (Net Income TTM -2.04b / Total Stockholder Equity 6.51b)
RoCE = 7.13% (EBIT 622.4m / Capital Employed (Equity 6.51b + L.T.Debt 2.22b))
RoIC = 11.46% (NOPAT 491.7m / Invested Capital 4.29b)
WACC = 10.13% (E(4.64b)/V(7.16b) * Re(14.78%) + D(2.51b)/V(7.16b) * Rd(1.96%) * (1-Tc(0.21)))
Discount Rate = 14.78% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 68.89 | Cagr: 24.22%
[DCF] Fair Price = unknown (Cash Flow -385.0m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.43 | # QB: 0
Revenue Correlation: 92.18 | Revenue CAGR: 70.33% | SUE: -0.41 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.43 | Chg30d=+14.71% | Revisions=N/A | Analysts=2
EPS next Quarter (2026-09-30): EPS=0.94 | Chg30d=+332.10% | Revisions=N/A | Analysts=1
EPS current Year (2026-12-31): EPS=-2.83 | Chg30d=-60.06% | Revisions=N/A | GrowthEPS=-53.0% | GrowthRev=-10.6%
EPS next Year (2027-12-31): EPS=-0.86 | Chg30d=+28.81% | Revisions=N/A | GrowthEPS=+69.4% | GrowthRev=+17.7%