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Gross margin at other companies

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51.1%+1.6pp
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Applied DigitalAPLD
34.4%+5.9pp
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Iris EnergyIREN
68.4%+3.9pp
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Hut 8 Mining Corp.HUT
59.7%+17.9pp
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Advanced Energy IndustriesAEIS
38.2%+1.8pp

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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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 trailing twelve months.

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 gross margin?
Cipher Digital, Inc. (CIFR) reported gross margin of 60% in Q1 2026.
How has Cipher Digital, Inc. 's gross margin changed year-over-year?
Cipher Digital, Inc. 's gross margin increased by 1.7% year-over-year, from 58.9% to 60%.
What is the long-term trend for Cipher Digital, Inc. 's gross margin?
Over 3 years (2022 to 2025), Cipher Digital, Inc. 's gross margin has grown at a -5.4% compound annual growth rate (CAGR), from 75.4% to 63.7%.
What does gross margin mean?
How much of every sales dollar is left after the direct cost of what was sold.
How do you interpret gross margin?
Higher and stable gross margins indicate pricing power and a durable cost structure. A declining trend signals input-cost pressure, pricing competition, or a shift toward lower-margin products.
How does gross margin compare across companies?
Highly comparable within an industry, less so across industries — software runs 70%+ while distributors run in single digits. Track the trend more than the absolute level across sectors.