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Marathon Digital Holdings MARA Return on invested capital

Return on invested capital at other companies

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CleanSparkCLSK
-13%-4.3pp
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AmazonAMZN
14%-3.8pp
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Riot Platforms, Inc.RIOT
-27.5%-80.5pp
Core Scientific, Inc. logo
Core Scientific, Inc.CORZ
-130.6%
Iris Energy logo
Iris EnergyIREN
1.8%
TeraWulf logo
TeraWulfWULF
-72.1%+161pp

Other financials

Income statement

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Revenue$174.6M-18.4%
Gross profit-$52.8M
Operating income-$1.1B-96.2%
Net income-$1.3B-137%
EPS (diluted)-$3.31-114%

Balance sheet

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Cash & equivalents$525.7M+152%
Total debt$2.5B+5.4%
Total equity$2.2B-40.1%
Total assets$4.9B-23.2%

Cash flow

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Operating cash flow-$247.5M-14.9%
CapEx$79.5M+105%
Free cash flow-$327.0M-28.6%

Valuation

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Market cap$5.42B-22.0%

Profitability

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Gross margin-24.3%
Operating margin-201%-785pp
Net margin-235.1%-313pp
FCF margin-147.8%-5.6pp

Returns & leverage

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Return on equity-68.5%-83.9pp
Debt / equity1.1×+0.5×
Current ratio1.8×+1.1×

Where this comes from

Calculated from Marathon Digital Holdings’s reported figures.

Based on trailing twelve months.

The official record: Marathon Digital Holdings’s 10-Q, filed May 11, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Marathon Digital Holdings's return on invested capital?
Marathon Digital Holdings (MARA) reported return on invested capital of -34.8% in Q1 2026.
How has Marathon Digital Holdings's return on invested capital changed year-over-year?
Marathon Digital Holdings's return on invested capital decreased by 140.1% year-over-year, from -14.5% to -34.8%.
What is the long-term trend for Marathon Digital Holdings's return on invested capital?
Over 4 years (2020 to 2025), Marathon Digital Holdings's return on invested capital has grown at a 14.3% compound annual growth rate (CAGR), from -11.2% to -19.2%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.