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TeraWulf WULF Gross margin

Gross margin at other companies

Equinix, Inc. logo
Equinix, Inc.EQIX
51.1%+1.6pp
Cipher Digital, Inc.
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Cipher Digital, Inc. CIFR
60%+1.0pp
Applied Digital logo
Applied DigitalAPLD
34.4%+5.9pp
Hut 8 Mining Corp. logo
Hut 8 Mining Corp.HUT
59.7%+17.9pp
Iris Energy logo
Iris EnergyIREN
68.4%+3.9pp
Super Micro Computer, Inc. logo
Super Micro Computer, Inc.SMCI
8.4%-2.9pp

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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Operating margin-171.8%+398pp
Net margin-611.5%-747pp
FCF margin-1,003.6%-1,433pp

Returns & leverage

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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.

Based on trailing twelve months.

The official record: TeraWulf’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is TeraWulf's gross margin?
TeraWulf (WULF) reported gross margin of 64% in Q1 2026.
How has TeraWulf's gross margin changed year-over-year?
TeraWulf's gross margin increased by 42.6% year-over-year, from 44.9% to 64%.
What is the long-term trend for TeraWulf's gross margin?
Over 4 years (2020 to 2025), TeraWulf's gross margin has grown at a 15.0% compound annual growth rate (CAGR), from 29.1% to 50.9%.
What does gross margin mean?
How much of every sales dollar is left after the direct cost of what was sold.
How do you interpret gross margin?
Higher and stable gross margins indicate pricing power and a durable cost structure. A declining trend signals input-cost pressure, pricing competition, or a shift toward lower-margin products.
How does gross margin compare across companies?
Highly comparable within an industry, less so across industries — software runs 70%+ while distributors run in single digits. Track the trend more than the absolute level across sectors.