Is the business good?
How good a business is CIFR?
Cipher Digital Inc. earns −7.8% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
−7.8%
Return on invested capital · cost of capital 9.0% · 17 points below what the capital costs: growth destroys value
- Operating margin
- −278%
Operating margin · Information Technology Services median 7.9% · 12 months to Q2 2026
- Share count, year on year
- +9.2%
Share count, year on year · shareholders own a smaller slice than a year ago
- Gross margin
- 56%
Gross margin
| Year | Operating margin |
|---|---|
| FY2022 | −1232% |
| FY2023 | −16% |
| FY2024 | −29% |
| FY2025 | −188% |
Details›
- Gross margin12 months to Q2 2026
- 56%
- Operating margin12 months to Q2 2026
- −278%
- Net margin12 months to Q2 2026
- −586%
- Free cash flow margin
- −780%
- Revenue, trailing twelve months
- $191M
- Free cash flow, trailing twelve months
- −$1.49B
- Net income, trailing twelve months
- −$1.12B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −7.8%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Information Technology Services
Ranks #19 of 37 by Smart Score