What is Riot Platforms, Inc.'s price / earnings?

Riot Platforms, Inc. (RIOT) reported price / earnings of 42.9× in Q3 2025.

What does price / earnings mean?

How many dollars investors pay for each dollar of the company's annual profit.

How do you interpret price / earnings?

Lower can mean cheaper — or that the market expects earnings to fall. High multiples embed growth expectations. Meaningless when earnings are negative, so it is suppressed there.

How does price / earnings compare across companies?

Compare against the company's own history and sector peers, not across sectors with different growth and risk profiles.

Riot Platforms, Inc. RIOT Price / earnings

Price / earnings at other companies

Equinix, Inc.EQIX

67.7×-16.6×

Iris EnergyIREN

72×—

Hut 8 Mining Corp.HUT

17.9×+7.0×

AESAES

7.4×+0.6×

MicroStrategyMSTR

11.5×—

Iron MountainIRM

106.6×-99.1×

Other financials

Income statement

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Revenue$167.2M+3.6%

Operating income-$499.9M-114%

Net income-$500.5M-68.9%

EPS (diluted)-$1.44-60.0%

Balance sheet

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Cash & equivalents$205.7M+25.6%

Total debt$877.2M+41.8%

Total equity$2.4B-18.7%

Total assets$3.4B-7.6%

Cash flow

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Operating cash flow-$182.7M-49.6%

CapEx$115.5M+251%

Free cash flow-$298.1M-92.4%

Valuation

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Market cap$10.63B+87.9%

Enterprise value$11.3B+81.7%

P/S16.3×+3.9×

Profitability

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Gross margin62.4%—

Operating margin-136%-835pp

Net margin-132.8%+148pp

FCF margin-140.4%+36.0pp

Returns & leverage

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Return on equity-32.5%-189pp

Debt / equity0.4×+0.2×

Current ratio1.1×-2.1×

Where this comes from

Calculated from Riot Platforms, Inc.’s reported figures.

market cap/net income=42.9×

Based on the most recent quarter.

The official record: Riot Platforms, Inc.’s 10-Q, filed October 30, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Riot Platforms, Inc.'s price / earnings?: Riot Platforms, Inc. (RIOT) reported price / earnings of 42.9× in Q3 2025.
What does price / earnings mean?: How many dollars investors pay for each dollar of the company's annual profit.
How do you interpret price / earnings?: Lower can mean cheaper — or that the market expects earnings to fall. High multiples embed growth expectations. Meaningless when earnings are negative, so it is suppressed there.
How does price / earnings compare across companies?: Compare against the company's own history and sector peers, not across sectors with different growth and risk profiles.