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EV / sales at other companies

TeraWulf logo
TeraWulfWULF
39.9×+31.0×
Equinix, Inc. logo
Equinix, Inc.EQIX
12.5×+1.7×
Applied Digital logo
Applied DigitalAPLD
24.6×+10.4×
Digital Realty logo
Digital RealtyDLR
8.4×-1.8×
Iris Energy logo
Iris EnergyIREN
12.6×
Hut 8 Mining Corp. logo
Hut 8 Mining Corp.HUT
17.8×+9.1×

Other financials

Income statement

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Revenue$34.8M-28.8%
Gross profit$17.1M-49.7%
Operating income-$114.6M-201%
Net income-$114.3M-193%
EPS (diluted)-$0.28-155%

Balance sheet

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Cash & equivalents$713.0M+1,798%
Total debt$4.7B+8,030%
Total equity$714.2M-2.8%
Total assets$6.4B+600%

Cash flow

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Operating cash flow$91.5M+294%
CapEx$554.0M+456%
Free cash flow-$462.5M-215%

Valuation

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Market cap$11.94B+527%
Enterprise value$15.97B+985%
P/S56.9×+44.4×

Profitability

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Gross margin60%+1.0pp
Operating margin-237.4%
Net margin-427.8%
FCF margin-482%-3,491pp

Returns & leverage

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Return on equity-123.9%
Debt / equity6.6×+6.6×
Current ratio3.1×+2.0×

Where this comes from

Calculated from Cipher Digital, Inc. ’s reported figures.

Based on the most recent quarter.

The official record: Cipher Digital, Inc. ’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Cipher Digital, Inc. 's EV / sales?
Cipher Digital, Inc. (CIFR) reported EV / sales of 44.1× in Q1 2026.
How has Cipher Digital, Inc. 's EV / sales changed year-over-year?
Cipher Digital, Inc. 's EV / sales increased by 686.5% year-over-year, from 5.6× to 44.1×.
What is the long-term trend for Cipher Digital, Inc. 's EV / sales?
Over 3 years (2022 to 2025), Cipher Digital, Inc. 's EV / sales has grown at a -9.9% compound annual growth rate (CAGR), from 49.3× to 36×.
What does EV / sales mean?
What the whole business costs relative to its annual sales.
How do you interpret EV / sales?
A fallback valuation gauge for pre-profit or cyclical firms. Like P/S, only comparable across similar-margin businesses, but it accounts for debt and cash unlike P/S.
How does EV / sales compare across companies?
Compare within a margin cohort; the debt-and-cash adjustment makes it cleaner than P/S for leveraged firms.