What are Cipher Digital, Inc. 's profit margins?

Cipher Digital, Inc. (CIFR) runs a 60.0% gross margin and a -237.4% operating margin, with a -427.8% net margin.

Where do Cipher Digital, Inc. 's ratios come from?

Every ratio is computed from Cipher Digital, Inc. 's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Cipher Digital, Inc. CIFR Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Gross margin	60%-3.8pp	63.7%+0.1pp	63.6%+3.6pp	60%+1.1pp	58.9%+0.2pp
Operating margin	-237.4%-49.1pp	-188.2%—	——	——	——
Net margin	-427.8%-60.6pp	-367.2%—	——	——	——
EBITDA margin	-153.9%-54.8pp	-99.1%—	——	——	——
Free cash flow margin	-482%-171pp	-310.7%-72.6pp	-238.1%-37.6pp	-200.6%+22.6pp	-223.1%-73.1pp
Returns
Return on equity	-123.9%-13.3pp	-110.6%—	——	——	——
Return on assets	-24.6%+7.4pp	-31.9%—	——	——	——
Return on invested capital	-18.1%+4.3pp	-22.4%—	——	——	——
Efficiency
Asset turnover	0.1×0.0×	0.1×0.0×	0.1×-0.1×	0.2×0.0×	0.2×0.0×
Liquidity
Current ratio	3.1×-0.7×	3.8×+1.3×	2.5×-1.7×	4.2×+3.1×	1.1×-0.2×
Quick ratio	3.1×-0.7×	3.8×+1.3×	2.5×-1.7×	4.2×+3.1×	1.1×-0.2×
Cash ratio	0.6×-0.2×	0.8×-1.4×	2.1×+0.7×	1.5×+1.2×	0.3×+0.1×
Leverage
Debt-to-equity	6.6×+3.2×	3.4×+2.1×	1.3×+1.1×	0.3×+0.2×	0.1×0.0×
Debt-to-assets	0.7×+0.1×	0.6×+0.3×	0.4×+0.2×	0.2×+0.1×	0.1×0.0×
Interest coverage	-5.2×+6.3×	-11.5×—	——	——	——
Per Share
Book value per share	$1.76-16.5%	$2.11+6.0%	$1.99-0.2%	$2.00-2.0%	$2.04-3.4%
Valuation
Market capitalization	$5.21B-10.6%	$5.83B+17.8%	$4.95B+246%	$1.43B+71.9%	$831.52M-48.5%
Enterprise value	$9.25B+14.7%	$8.06B+68.9%	$4.77B+210%	$1.54B+80.8%	$852.34M-48.4%
Price / sales	24.8×-1.2×	26×+2.1×	24×+15.0×	9×+3.5×	5.5×-5.2×
Price / book	7.3×+0.1×	7.2×+0.9×	6.3×+4.4×	1.9×+0.8×	1.1×-1.2×
EV / sales	44.1×+8.1×	36×+12.9×	23.1×+13.4×	9.7×+4.1×	5.6×-5.3×
Free cash flow yield	-19.4%-7.5pp	-11.9%-2.0pp	-9.9%+12.4pp	-22.3%+18.5pp	-40.8%-26.7pp
Earnings yield	-17.2%-3.1pp	-14.1%—	——	——	——

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Questions, answered.

What are Cipher Digital, Inc. 's profit margins?: Cipher Digital, Inc. (CIFR) runs a 60.0% gross margin and a -237.4% operating margin, with a -427.8% net margin.
Where do Cipher Digital, Inc. 's ratios come from?: Every ratio is computed from Cipher Digital, Inc. 's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.