What are TeraWulf's profit margins?

TeraWulf (WULF) runs a 64.0% gross margin and a -171.8% operating margin, with a -611.5% net margin.

Where do TeraWulf's ratios come from?

Every ratio is computed from TeraWulf's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

TeraWulf WULF Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Gross margin	64%+13.1pp	50.9%+0.7pp	50.2%+6.4pp	43.8%-1.1pp	44.9%-10.4pp
Operating margin	-171.8%-61.3pp	-110.5%-20.3pp	-90.3%+8.5pp	-98.8%+2.3pp	-101.1%-46.7pp
Net margin	-611.5%-219pp	-392.6%-56.1pp	-336.5%-245pp	-91.4%+2.7pp	-94.1%-42.4pp
EBITDA margin	-111.4%-53.5pp	-57.9%-12.9pp	-45.1%+8.7pp	-53.7%+1.7pp	-55.5%-43.8pp
Free cash flow margin	-1,003.6%-301pp	-702.5%-299pp	-403.7%-91.4pp	-312.3%-80.9pp	-231.3%-22.6pp
Returns
Return on assets	-26.2%-8.2pp	-18%+21.4pp	-39.4%-19.9pp	-19.5%+0.6pp	-20.1%-7.7pp
Return on invested capital	-72.1%—	——	——	-32.5%+10.2pp	-42.7%—
Efficiency
Asset turnover	0×0.0×	0×-0.1×	0.1×-0.1×	0.2×0.0×	0.2×0.0×
Liquidity
Current ratio	1.2×-0.8×	2×+1.0×	1×+0.4×	0.7×-1.2×	1.9×-3.5×
Quick ratio	1.2×-0.8×	2×+1.0×	1×+0.4×	0.7×-1.2×	1.9×-3.5×
Cash ratio	1.3×-0.8×	2.1×+1.1×	1×+0.4×	0.6×-1.2×	1.8×-3.5×
Leverage
Debt-to-assets	0.5×0.0×	0.5×+0.5×	0×-0.5×	0.5×+0.1×	0.4×+0.4×
Interest coverage	-2×+0.3×	-2.3×+4.9×	-7.2×+5.2×	-12.4×-2.0×	-10.4×-6.6×
Per Share
Book value per share	-$0.19-153%	$0.35-42.7%	$0.62+36.7%	$0.45+1.3%	$0.44-36.1%
Valuation
Market capitalization	$6.12B+27.2%	$4.81B+2.7%	$4.68B+213%	$1.5B+42.8%	$1.05B-52.1%
Enterprise value	$6.7B+43.9%	$4.65B+16.5%	$4B+117%	$1.84B+56.8%	$1.18B-38.6%
Price / sales	36.4×+7.9×	28.6×+0.6×	27.9×+17.6×	10.4×+2.5×	7.9×-7.7×
EV / sales	39.9×+12.2×	27.6×+3.8×	23.8×+11.1×	12.8×+3.9×	8.9×-4.8×
Free cash flow yield	-27.6%-3.0pp	-24.6%-10.2pp	-14.4%+15.6pp	-30.1%-0.9pp	-29.2%-15.8pp
Earnings yield	-16.8%-3.0pp	-13.7%-1.7pp	-12%-3.2pp	-8.8%+3.1pp	-11.9%-8.5pp

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Questions, answered.

What are TeraWulf's profit margins?: TeraWulf (WULF) runs a 64.0% gross margin and a -171.8% operating margin, with a -611.5% net margin.
Where do TeraWulf's ratios come from?: Every ratio is computed from TeraWulf's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.