What is CleanSpark's EV / sales?

CleanSpark (CLSK) reported EV / sales of 5.9× in Q3 2024.

How has CleanSpark's EV / sales changed year-over-year?

CleanSpark's EV / sales increased by 80.2% year-over-year, from 3.3× to 5.9×.

What is the long-term trend for CleanSpark's EV / sales?

Over 4 years (2020 to 2024), CleanSpark's EV / sales has grown at a -41.7% compound annual growth rate (CAGR), from 51.3× to 5.9×.

What does EV / sales mean?

Enterprise value at the quarter end divided by trailing-twelve-month revenue. A capital-structure-neutral revenue multiple, useful when earnings are negative.

CleanSpark CLSK EV / sales

EV / sales at other companies

TeraWulfWULF

39.9×+31.0×

Equinix, Inc.EQIX

12.5×+1.7×

Riot Platforms, Inc.RIOT

8.2×+1.8×

Digital RealtyDLR

8.4×-1.8×

Marathon Digital HoldingsMARA

5.8×-2.9×

Cipher Digital, Inc. CIFR

44.1×+38.5×

Other financials

Income statement

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Revenue$191.6M+115%

Gross profit$105.8M+229%

Operating income-$345.7M-150%

Net income-$378.3M-173%

EPS (diluted)-$1.52-210%

Balance sheet

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Cash & equivalents$260.3M+168%

Total debt$709.0K-15.5%

Total equity$986.2M-47.8%

Total assets$2.9B+9.7%

Cash flow

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Operating cash flow-$135.8M-21.0%

CapEx$37.6M+10.3%

Free cash flow-$173.4M-18.5%

Valuation

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Market cap$4.41B+15.3%

Profitability

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Gross margin55.2%-1.1pp

Operating margin41.6%+28.0pp

Net margin47.7%+33.0pp

FCF margin-84.5%+17.8pp

Returns & leverage

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Return on equity-34.7%-67.6pp

Debt / equity0×0.0×

Current ratio8.3×-0.4×

Where this comes from

Calculated from CleanSpark’s reported figures.

enterprise value/total revenue=5.9×

Based on the most recent quarter.

The official record: CleanSpark’s 10-K, filed November 25, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is CleanSpark's EV / sales?: CleanSpark (CLSK) reported EV / sales of 5.9× in Q3 2024.
How has CleanSpark's EV / sales changed year-over-year?: CleanSpark's EV / sales increased by 80.2% year-over-year, from 3.3× to 5.9×.
What is the long-term trend for CleanSpark's EV / sales?: Over 4 years (2020 to 2024), CleanSpark's EV / sales has grown at a -41.7% compound annual growth rate (CAGR), from 51.3× to 5.9×.
What does EV / sales mean?: Enterprise value at the quarter end divided by trailing-twelve-month revenue. A capital-structure-neutral revenue multiple, useful when earnings are negative.