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TeraWulf WULF Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

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$1.07B-1.5%
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$2.55B-0.1%
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$7.18B+26.3%
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FluorFLR
-2.9×+0.3×
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$536.97M-34.3%
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The Ensign GroupENSG
$136.49M-2.9%

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

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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.

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 net debt?
TeraWulf (WULF) reported net debt of $580.49M in Q1 2026.
How has TeraWulf's net debt changed year-over-year?
TeraWulf's net debt increased by 351.5% year-over-year, from $128.58M to $580.49M.
What is the long-term trend for TeraWulf's net debt?
Over 5 years (2020 to 2025), TeraWulf's net debt has grown at a 174.3% compound annual growth rate (CAGR), from -$1.01M to -$156.15M.
What does net debt mean?
Debt left over after using all the company's cash to pay it down.
How do you interpret net debt?
A negative value means net cash — more cash than debt, a position of strength. The numerator of net-debt/EBITDA, the most common leverage yardstick.
How does net debt compare across companies?
Most informative as net-debt/EBITDA; cash-rich balance sheets can show large total debt yet little or negative net debt.