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Core Scientific, Inc. (CORZ) 10-Year Financial Performance & Capital Metrics

CORZ • • Industrial / General
TechnologyInfrastructure SoftwareDigital Asset & Blockchain InfrastructureBlockchain Infrastructure & Mining
AboutCore Scientific, Inc. operates facilities for digital asset mining and colocation services in North America. It provides blockchain infrastructure, software solutions, and services. The company mines digital assets for its own account and provides hosting colocation services for other large-scale miners. It operates in two segments, Equipment Sales and Hosting. The company owns and operates computer equipment that is used to process transactions conducted on one or more blockchain networks in exchange for transaction processing fees rewarded in digital currency assets, commonly referred to as mining; and datacenter facilities to provide colocation and hosting services for distributed ledger technology, also commonly known as blockchain. It also develops blockchain-based platforms and applications, including infrastructure management, security technologies, mining optimization, and recordkeeping. The company is headquartered in Austin, Texas. On December 21, 2022, Core Scientific, Inc. filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas.Show more
  • Revenue $511M +1.6%
  • EBITDA $101M -4.3%
  • Net Income -$1.32B -433.5%
  • EPS (Diluted) -5.14 -690.8%
  • Gross Margin 23.71% -3.5%
  • EBITDA Margin 19.76% -5.8%
  • Operating Margin -3.76% -310.8%
  • Net Margin -257.5% -424.9%
  • ROE -
  • ROIC -
  • Debt/Equity -
  • Interest Coverage -0.52 -598.3%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong 5Y sales CAGR of 53.7%
  • ✓Share count reduced 32.7% through buybacks

✗Weaknesses

  • ✗Negative free cash flow

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y53.71%
3Y-2.11%
TTM-40.08%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM38.3%

EPS CAGR

10Y-
5Y-
3Y-
TTM103.6%

ROCE

10Y Avg-25.32%
5Y Avg-28.75%
3Y Avg-51.39%
Latest-2.27%

Peer Comparison

Blockchain Infrastructure & Mining
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Size & Scale
Valuation
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Growth
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Quality & Returns
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Sector-Specific
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EXODExodus Movement, Inc.162.13M16.324.63108.89%78.71%36.66%
SOSSOS Limited15.34M1.76-0.39150.42%-7.02%-5.6%
CORZCore Scientific, Inc.5.61B18.08-3.521.65%-229.91%
DGXXDigi Power X Inc.196.59M3.01-13.6841.7%-39.25%-27.71%0.01
DFDVDeFi Development Corp.218.82M7.32-26.234.82%9.33%28.79%0.00
OWLSOBOOK HOLDINGS INC.248.05M6.55-46.7918.29%-135.67%

Profit & Loss

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+59.52M60.32M544.48M640.31M502.4M510.67M
Revenue Growth %-0.01%8.03%0.18%-0.22%0.02%
Cost of Goods Sold+49M50.93M305.62M631.91M378.94M389.6M
COGS % of Revenue0.82%0.84%0.56%0.99%0.75%0.76%
Gross Profit+10.53M9.39M238.86M8.4M123.46M121.07M
Gross Margin %0.18%0.16%0.44%0.01%0.25%0.24%
Gross Profit Growth %--0.11%24.43%-0.96%13.7%-0.02%
Operating Expenses+23.02M15.72M72.22M2.12B114.5M140.27M
OpEx % of Revenue0.39%0.26%0.13%3.31%0.23%0.27%
Selling, General & Admin17.54M16.32M64.55M226.01M100.93M120.42M
SG&A % of Revenue0.29%0.27%0.12%0.35%0.2%0.24%
Research & Development5.48M5.27M7.67M26.96M7.18M11.83M
R&D % of Revenue0.09%0.09%0.01%0.04%0.01%0.02%
Other Operating Expenses0-5.88M01.86B6.39M8.02M
Operating Income+-11.69M-6.33M166.64M-2.11B8.96M-19.2M
Operating Margin %-0.2%-0.1%0.31%-3.29%0.02%-0.04%
Operating Income Growth %-0.46%27.34%-13.66%1%-3.14%
EBITDA+-5.57M3.08M200M-1.88B105.41M100.92M
EBITDA Margin %-0.09%0.05%0.37%-2.94%0.21%0.2%
EBITDA Growth %-1.55%64.02%-10.42%1.06%-0.04%
D&A (Non-Cash Add-back)6.12M9.4M33.36M226.09M96.44M120.12M
EBIT-11.69M-7.77M107.43M-2.07B-159.57M-1.28B
Net Interest Income+-235K-4.44M-44.35M-96.83M-86.24M-37.07M
Interest Income000000
Interest Expense235K4.44M44.35M96.83M86.24M37.07M
Other Income/Expense-235K-5.88M-103.56M-53.86M-254.76M-1.29B
Pretax Income+-11.92M-12.21M63.08M-2.16B-245.8M-1.31B
Pretax Margin %-0.2%-0.2%0.12%-3.38%-0.49%-2.57%
Income Tax+0015.76M-17.09M683K859K
Effective Tax Rate %1%1%0.75%0.99%1%1%
Net Income+-11.92M-12.21M47.31M-2.15B-246.49M-1.32B
Net Margin %-0.2%-0.2%0.09%-3.35%-0.49%-2.58%
Net Income Growth %--0.02%4.88%-46.37%0.89%-4.33%
Net Income (Continuing)-11.92M-12.21M47.31M-2.15B-246.49M-1.32B
Discontinued Operations000000
Minority Interest000000
EPS (Diluted)+-0.28-0.000.20-6.30-0.65-5.14
EPS Growth %-1%--32.5%0.9%-6.91%
EPS (Basic)-0.28-0.000.23-6.30-0.65-5.14
Diluted Shares Outstanding43.13M43.13M233.31M340.65M379.86M255.83M
Basic Shares Outstanding43.13M43.13M207.26M340.65M379.86M255.83M
Dividend Payout Ratio------

Balance Sheet

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+11.05M70.92M756.56M85.1M97.02M903.96M
Cash & Short-Term Investments6.66M8.67M117.87M15.88M50.41M836.2M
Cash Only6.66M8.67M117.87M15.88M50.41M836.2M
Short-Term Investments000000
Accounts Receivable287K1.11M1.68M3.54M7.16M1.02M
Days Sales Outstanding1.766.71.132.025.20.73
Inventory000000
Days Inventory Outstanding------
Other Current Assets1.41M59.93M250.35M37.38M24.59M66.74M
Total Non-Current Assets+150.96M154.66M1.68B722.58M615.14M694.85M
Property, Plant & Equipment81.3M85.24M599.76M711.56M593.27M670.81M
Fixed Asset Turnover0.73x0.71x0.91x0.90x0.85x0.76x
Goodwill58.24M58.24M1.06B000
Intangible Assets3.98M6.67M8.2M1.7M2.25M0
Long-Term Investments000000
Other Non-Current Assets7.45M4.5M18.59M9.32M19.62M24.04M
Total Assets+162.01M225.58M2.44B807.69M712.16M1.6B
Asset Turnover0.37x0.27x0.22x0.79x0.71x0.32x
Asset Growth %-0.39%9.81%-0.67%-0.12%1.25%
Total Current Liabilities+19.47M69.65M320.29M186.79M488.42M134.56M
Accounts Payable7.5M3.06M11.62M53.64M154.75M19.27M
Days Payables Outstanding55.8921.9113.8730.98149.0618.05
Short-Term Debt648K16.02M76M36.24M124.36M16.29M
Deferred Revenue (Current)001000K1000K1000K1000K
Other Current Liabilities8.69M47.49M4.39M1.64M6.78M69.23M
Current Ratio0.57x1.02x2.36x0.46x0.20x6.72x
Quick Ratio0.57x1.02x2.36x0.46x0.20x6.72x
Cash Conversion Cycle------
Total Non-Current Liabilities+6.69M22.23M777.37M1.03B820.67M2.28B
Long-Term Debt2.09M19.86M652.21M0684.08M1.07B
Capital Lease Obligations3.18M2.26M62.15M720K37.26M97.85M
Deferred Tax Liabilities000000
Other Non-Current Liabilities1.41M103K63.01M1.03B99.33M1.11B
Total Liabilities26.16M91.88M1.1B1.22B1.31B2.42B
Total Debt+7.49M40.29M818.81M37.73M865.54M1.2B
Net Debt837K31.62M700.93M21.85M815.14M363.57M
Debt / Equity0.06x0.30x0.61x---
Debt / EBITDA-13.10x4.09x-8.21x11.89x
Net Debt / EBITDA-10.28x3.50x-7.73x3.60x
Interest Coverage-49.73x-1.43x3.76x-21.79x0.10x-0.52x
Total Equity+135.85M133.7M1.34B-409.35M-596.94M-820.18M
Equity Growth %--0.02%9.03%-1.31%-0.46%-0.37%
Book Value per Share3.153.105.75-1.20-1.57-3.21
Total Shareholders' Equity135.85M133.7M1.34B-409.35M-596.94M-820.18M
Common Stock1K1K27K36K36K3K
Retained Earnings-62.54M-74.74M-27.43M-2.17B-2.42B-3.74B
Treasury Stock000000
Accumulated OCI00-10.97M000
Minority Interest000000

Cash Flow

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-832K-23.77M-56.73M205.19M65.11M42.9M
Operating CF Margin %-0.01%-0.39%-0.1%0.32%0.13%0.08%
Operating CF Growth %--27.56%-1.39%4.62%-0.68%-0.34%
Net Income-11.92M-12.21M47.31M-2.15B-246.49M-1.32B
Depreciation & Amortization6.12M9.4M33.36M226.09M96.44M120.12M
Stock-Based Compensation2.88M3.04M38.94M182.89M58.89M51.92M
Deferred Taxes009.53M-18.52M00
Other Non-Cash Items-3.59M-2.87M-136.36M1.88B-394.77M1.21B
Working Capital Changes5.68M-21.13M-49.52M78.61M551.03M-27.64M
Change in Receivables-83K-1.55M-7.41M-7.58M-744K659K
Change in Inventory000000
Change in Payables0-1.77M-21.99M26.71M118.6M-12.27M
Cash from Investing+-37.36M-15.14M-423.84M-590.78M-3M-95.19M
Capital Expenditures-37.41M-1.57M-59.27M-601.66M-16.16M-94.96M
CapEx % of Revenue0.63%0.03%0.11%0.94%0.03%0.19%
Acquisitions------
Investments------
Other Investing52K92K645K-10.82M13.16M-231K
Cash from Financing+28.69M40.72M603.53M306.15M-44.65M819.57M
Debt Issued (Net)------
Equity Issued (Net)------
Dividends Paid000000
Share Repurchases------
Other Financing29.53M2.64M-681.43M220.06M-3.66M-2.34M
Net Change in Cash------
Free Cash Flow+-38.24M-25.33M-116.01M-396.47M48.95M-52.06M
FCF Margin %-0.64%-0.42%-0.21%-0.62%0.1%-0.1%
FCF Growth %-0.34%-3.58%-2.42%1.12%-2.06%
FCF per Share-0.89-0.59-0.50-1.160.13-0.20
FCF Conversion (FCF/Net Income)0.07x1.95x-1.20x-0.10x-0.26x-0.03x
Interest Paid02.9M38.18M86.01M00
Taxes Paid009.62M5.76M00

Key Ratios

Metric201920202021202220232024
Return on Equity (ROE)-8.78%-9.06%6.42%-460.65%--
Return on Invested Capital (ROIC)--3.14%11.32%-191.24%3.08%-
Gross Margin17.69%15.57%43.87%1.31%24.57%23.71%
Net Margin-20.03%-20.24%8.69%-335.2%-49.06%-257.5%
Debt / Equity0.06x0.30x0.61x---
Interest Coverage-49.73x-1.43x3.76x-21.79x0.10x-0.52x
FCF Conversion0.07x1.95x-1.20x-0.10x-0.26x-0.03x
Revenue Growth-1.34%802.66%17.6%-21.54%1.65%

Revenue by Segment

202220232024
Equipment Sales67.11M--
Equipment Sales Growth---
Digital Asset Mining Service397.8M390.33M-
Digital Asset Mining Service Growth--1.88%-
Hosting Service169.72M87.25M-
Hosting Service Growth--48.59%-
Hosting Service, Customers130.23M--
Hosting Service, Customers Growth---
Equipment Sales, Related Parties71.44M--
Equipment Sales, Related Parties Growth---
Hosting Service, Related Parties29.45M--
Hosting Service, Related Parties Growth---
Equipment Sales, Customers11.39M--
Equipment Sales, Customers Growth---

Frequently Asked Questions

Growth & Financials

Core Scientific, Inc. (CORZ) reported $334.2M in revenue for fiscal year 2024. This represents a 461% increase from $59.5M in 2019.

Core Scientific, Inc. (CORZ) grew revenue by 1.6% over the past year. Growth has been modest.

Core Scientific, Inc. (CORZ) reported a net loss of $768.3M for fiscal year 2024.

Dividend & Returns

Core Scientific, Inc. (CORZ) had negative free cash flow of $354.1M in fiscal year 2024, likely due to heavy capital investments.

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