(WULF) Terawulf - Overview
Sector: Financial Services | Industry: Capital Markets | Exchange: NASDAQ (USA) | Market Cap: 11.060m USD | Total Return: 458% in 12m
Avg Turnover: 579M
Qual. Beats: 0
Rev. Trend: 91.2%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Leader, Tailwind, Pullback 52w
TeraWulf Inc. (WULF) is a Maryland-based company that develops and operates digital infrastructure for bitcoin mining and high-performance computing (HPC) workloads. Founded in 2021, the firm focuses on utilizing carbon-free energy sources to power its data center operations in the United States.
The company operates within the vertically integrated mining sector, where firms own their power infrastructure to mitigate energy price volatility. This business model is increasingly shifting toward HPC and AI applications to diversify revenue streams beyond block rewards. Analyzing how these energy assets impact valuation on ValueRay can provide further clarity on the companys growth trajectory.
As a domestic operator, TeraWulf manages large-scale facilities designed to balance high-density computing requirements with reliable power grids. Its strategic focus remains on scaling infrastructure that supports both the decentralized finance ecosystem and the rising demand for intensive computational processing.
- Expansion of high-performance computing capacity drives non-bitcoin revenue diversification
- Low-cost nuclear energy contracts provide competitive advantage in mining margins
- Bitcoin price volatility directly impacts operational cash flow and profitability
- Capital expenditure requirements for infrastructure expansion influence share dilution risk
- Regulatory shifts in clean energy credits impact long-term operational costs
| Net Income: -1.03b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.24 > 0.02 and ΔFCF/TA 12.24 > 1.0 |
| NWC/Revenue: 287.1% < 20% (prev 82.65%; Δ 204.5% < -1%) |
| CFO/TA -0.03 > 3% & CFO -197.3m > Net Income -1.03b |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 1.20 > 1.5 & < 3 |
| Outstanding Shares: last quarter (423.0m) vs 12m ago 10.40% < -2% |
| Gross Margin: 3.62% > 18% (prev 0.33%; Δ 329.3% > 0.5%) |
| Asset Turnover: 4.28% > 50% (prev 15.70%; Δ -11.41% > 0%) |
| Interest Coverage Ratio: -1.72 > 6 (EBITDA TTM -138.7m / Interest Expense TTM 143.3m) |
| A: 0.07 (Total Current Assets 2.87b - Total Current Liabilities 2.38b) / Total Assets 7.01b |
| B: -0.20 (Retained Earnings -1.42b / Total Assets 7.01b) |
| C: -0.06 (EBIT TTM -245.8m / Avg Total Assets 3.92b) |
| D: -0.20 (Book Value of Equity -1.42b / Total Liabilities 7.09b) |
| Altman-Z'' = -0.84 = CCC |
| DSRI: 0.86 (Receivables 5.60m/5.10m, Revenue 168.1m/132.0m) |
| GMI: 9.13 (GM 3.62% / 33.10%) |
| AQI: 18.39 (AQ_t 0.19 / AQ_t-1 0.01) |
| SGI: 1.27 (Revenue 168.1m / 132.0m) |
| TATA: -0.12 (NI -1.03b - CFO -197.3m) / TA 7.01b) |
| Beneish M = 14.62 (Cap -4..+1) = D |
As of May 24, 2026, the stock is trading at USD 22.92 with a total of 19,526,686 shares traded.
Over the past week, the price has changed by +2.24%,
over one month by +11.05%,
over three months by +45.54% and
over the past year by +457.95%.
Terawulf has received a consensus analysts rating of 4.55. Therefore, it is recommended to buy WULF.
- StrongBuy: 7
- Buy: 3
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 30.8 | 34.4% |
P/S = 65.8108
P/B = 84.2543
Revenue TTM = 168.1m USD
EBIT TTM = -245.8m USD
EBITDA TTM = -138.7m USD
Long Term Debt = 4.64b USD (from longTermDebt, last fiscal year)
Short Term Debt = 634.6m USD (from shortTermDebt, last quarter)
Debt = 5.34b USD (from shortLongTermDebtTotal, last quarter) + Leases 24.6m
Net Debt = 2.51b USD (calculated: Debt 5.34b - CCE 2.83b)
Enterprise Value = 13.6b USD (11.1b + Debt 5.34b - CCE 2.83b)
Interest Coverage Ratio = -1.72 (Ebit TTM -245.8m / Interest Expense TTM 143.3m)
EV/FCF = -8.05x (Enterprise Value 13.6b / FCF TTM -1.69b)
FCF Yield = -12.43% (FCF TTM -1.69b / Enterprise Value 13.6b)
FCF Margin = -1.00k% (FCF TTM -1.69b / Revenue TTM 168.1m)
Net Margin = -611.5% (Net Income TTM -1.03b / Revenue TTM 168.1m)
Gross Margin = 3.62% ((Revenue TTM 168.1m - Cost of Revenue TTM 162.0m) / Revenue TTM)
Gross Margin QoQ = 9.33% (prev -30.11%)
Tobins Q-Ratio = 1.94 (Enterprise Value 13.6b / Total Assets 7.01b)
Interest Expense / Debt = 2.68% (Interest Expense 143.3m / Debt 5.34b)
Taxrate = 21.0% (US default 21%)
NOPAT = -194.2m (EBIT -245.8m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.20 (Total Current Assets 2.87b / Total Current Liabilities 2.38b)
Debt / Equity = -67.77 (negative equity) (Debt 5.34b / totalStockholderEquity, last quarter -78.8m)
Debt / EBITDA = -18.11 (negative EBITDA) (Net Debt 2.51b / EBITDA -138.7m)
Debt / FCF = -1.49 (negative FCF - burning cash) (Net Debt 2.51b / FCF TTM -1.69b)
Total Stockholder Equity = 120.8m (last 4 quarters mean from totalStockholderEquity)
RoA = -26.18% (Net Income -1.03b / Total Assets 7.01b)
RoE = -66.64% (Net Income TTM -1.03b / Total Stockholder Equity 1.54b)
RoCE = -3.98% (EBIT -245.8m / Capital Employed (Equity 1.54b + L.T.Debt 4.64b))
RoIC = -3.84% (negative operating profit) (NOPAT -194.2m / Invested Capital 5.06b)
WACC = 12.65% (E(11.1b)/V(16.4b) * Re(17.73%) + D(5.34b)/V(16.4b) * Rd(2.68%) * (1-Tc(0.21)))
Discount Rate = 17.73% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 91.11 | Cagr: 20.75%
[DCF] Fair Price = unknown (Cash Flow -1.69b)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.29 | # QB: 0
Revenue Correlation: 91.21 | Revenue CAGR: 60.45% | SUE: 0.45 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.26 | Chg30d=-7.14% | Revisions=+20% | Analysts=2
EPS next Quarter (2026-09-30): EPS=-0.18 | Chg30d=-42.86% | Revisions=+20% | Analysts=2
EPS current Year (2026-12-31): EPS=-0.43 | Chg30d=+36.01% | Revisions=+33% | GrowthEPS=-5.8% | GrowthRev=+99.5%
EPS next Year (2027-12-31): EPS=0.15 | Chg30d=-60.90% | Revisions=+0% | GrowthEPS=+135.5% | GrowthRev=+211.4%
[Analyst] Revisions Ratio: +33%