What is TeraWulf's EV / EBITDA?

TeraWulf (WULF) reported EV / EBITDA of 66.4× in Q3 2024.

What does EV / EBITDA mean?

What the whole business (debt included) costs relative to its operating cash earnings.

How do you interpret EV / EBITDA?

Lets you compare companies with different leverage and tax positions on a like-for-like basis — the standard multiple in M&A. Lower can mean cheaper, subject to growth and capital intensity.

How does EV / EBITDA compare across companies?

Broadly comparable across non-financial sectors; not used for banks and insurers, where EBITDA is not meaningful.

TeraWulf WULF EV / EBITDA

EV / EBITDA at other companies

Equinix, Inc.EQIX

28.9×+0.4×

Riot Platforms, Inc.RIOT

13.1×—

Digital RealtyDLR

20.1×-5.1×

Cipher Digital, Inc. CIFR

30.3×—

Core Scientific, Inc.CORZ

52.9×—

Hut 8 Mining Corp.HUT

7.8×+1.8×

Other financials

Income statement

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Revenue$34.0M-1.1%

Gross profit$31.7M+221%

Operating income-$162.1M-172%

Net income-$427.6M-596%

EPS (diluted)-$1.01-531%

Balance sheet

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Cash & equivalents$3.1B+1,318%

Total debt$3.7B+959%

Total equity-$78.8M-146%

Total assets$7.0B+733%

Cash flow

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Operating cash flow-$17.6M-131%

CapEx$523.0M+458%

Free cash flow-$540.5M-1,353%

Valuation

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Market cap$14.36B+484%

Enterprise value$14.94B+470%

P/S85.5×+66.8×

Profitability

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Gross margin64%+19.1pp

Operating margin-171.8%+398pp

Net margin-611.5%-747pp

FCF margin-1,003.6%-1,433pp

Returns & leverage

See full

Return on equity-343.7%-382pp

Debt / equity25.4×+25.4×

Current ratio1.2×-0.7×

Where this comes from

Calculated from TeraWulf’s reported figures.

enterprise value/ebitda=66.4×

Based on the most recent quarter.

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

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Questions, answered.

What is TeraWulf's EV / EBITDA?: TeraWulf (WULF) reported EV / EBITDA of 66.4× in Q3 2024.
What does EV / EBITDA mean?: What the whole business (debt included) costs relative to its operating cash earnings.
How do you interpret EV / EBITDA?: Lets you compare companies with different leverage and tax positions on a like-for-like basis — the standard multiple in M&A. Lower can mean cheaper, subject to growth and capital intensity.
How does EV / EBITDA compare across companies?: Broadly comparable across non-financial sectors; not used for banks and insurers, where EBITDA is not meaningful.