Latest Ratios: P/E Ratio -7.9x · EV/EBITDA 8.2x · ROE -20.0%. (2020–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Market Cap | $248M | $434M | $819M | — | — | — | — |
| Enterprise Value | $333M | $519M | $816M | — | — | — | — |
| P/E Ratio → | -7.89 | — | 15.00 | — | — | — | — |
| P/S Ratio | 0.52 | 0.91 | 1.77 | — | — | — | — |
| P/B Ratio | 1.65 | 2.90 | 5.04 | — | — | — | — |
| P/FCF | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.09 | 1.76 | — | — | — | — |
| EV / EBITDA | 8.21 | 12.79 | 8.97 | — | — | — | — |
| EV / EBIT | 26.54 | — | 12.01 | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 6.1% | 6.1% | 6.4% | 4.5% | 18.3% | 8.8% | 11.4% |
| Operating Margin | 2.6% | 2.6% | 14.3% | 5.8% | 2.0% | 5.7% | -90.7% |
| Net Profit Margin | -6.5% | -6.5% | 11.6% | 3.7% | 1.2% | 4.8% | -90.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | -20.0% | -20.0% | 60.0% | 86.8% | 41.8% | 207.8% | — |
| ROA | -8.5% | -8.5% | 18.4% | 5.1% | 1.6% | 8.4% | -80.3% |
| ROIC | 4.1% | 4.1% | 45.7% | 18.3% | 4.8% | 180.6% | — |
| ROCE | 4.4% | 4.4% | 30.3% | 13.8% | 6.4% | 246.1% | — |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.76 | 0.76 | 0.22 | 0.14 | 16.00 | 0.02 | — |
| Debt / EBITDA | 2.79 | 2.79 | 0.38 | 0.06 | 4.96 | 0.02 | — |
| Net Debt / Equity | — | 0.57 | -0.02 | -1.85 | 7.17 | -2.75 | — |
| Net Debt / EBITDA | 2.10 | 2.10 | -0.04 | -0.78 | 2.22 | -2.28 | 0.00 |
| Debt / FCF | — | — | — | — | — | -73.83 | — |
| Interest Coverage | -2.42 | -2.42 | 10.74 | 3.29 | 1.71 | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 3.30 | 3.30 | 4.15 | 1.40 | 1.07 | 1.04 | 0.94 |
| Quick Ratio | 3.30 | 3.30 | 4.15 | 1.40 | 1.07 | 1.04 | 0.94 |
| Cash Ratio | 0.28 | 0.28 | 0.60 | 0.37 | 0.74 | 0.12 | — |
| Asset Turnover | — | 1.34 | 1.23 | 1.35 | 1.00 | 0.89 | 0.89 |
| Inventory Turnover | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 6.7% | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Shares Outstanding | — | $164M | $166M | $163M | $163M | $160M | $158M |
Extreme margin volatility
According to recent financial data, FUFU trades at a forward P/E of 34.41, which appears disconnected from its negative TTM earnings and suggests that investors are pricing in a recovery that remains highly speculative given the company's current inability to generate consistent bottom-line profitability.
The current P/S multiple of 0.52 indicates that the market is heavily discounting the company's revenue base, likely due to the thin gross margins inherent in its brokerage-style business model. This valuation suggests that investors are skeptical of the firm's ability to scale profitably without significant capital investment or a favorable shift in the broader Bitcoin hash price environment.
Based on reported figures, FUFU's ROIC plummeted to -1.1% in 2025Q4 from a peak of 47.1% in 2024Q1, illustrating a rapid decay in the company's ability to generate returns on invested capital as operational costs and network difficulty have outpaced revenue growth.
The sharp decline in ROIC highlights the structural challenge of maintaining an asset-light model when the underlying cost of hash rate production is rising. This trend suggests that the company's previous high-return periods were likely driven by favorable market conditions rather than a sustainable, proprietary competitive advantage in capital allocation.
As reported in financial statements, FUFU's asset turnover ratio has fluctuated significantly, reaching 0.24 in 2025Q4, which indicates that the company is struggling to extract meaningful revenue from its asset base compared to its historical performance and broader industry benchmarks.
The variability in DSO, which shifted from 2 days in 2024Q2 to 32 days in 2025Q4, suggests potential friction in the company's collection cycle and customer payment terms. This deterioration in efficiency warrants further investigation into whether the firm is being forced to offer more lenient credit terms to maintain its cloud-mining client base.
According to recent SEC filings, FUFU's debt-to-equity ratio climbed to 0.76 in 2025Q4, a significant increase from 0.20 in 2025Q2, signaling that the company is increasingly reliant on debt to sustain operations as its internal cash generation capabilities have turned negative.
The negative interest coverage ratio of -35.14 in 2025Q4 is particularly concerning, as it implies that the company is currently unable to service its debt obligations from operating income. Investors should monitor whether this reliance on external financing will lead to further dilution or restrictive covenant triggers in the coming quarters.
Financial analysts frequently misapply the P/E ratio to FUFU, failing to account for the extreme volatility in net income caused by digital asset impairments and the cyclical nature of the Bitcoin halving, which renders traditional earnings-based valuation metrics largely ineffective for this business model.
Instead of P/E, investors should focus on EV/Hash Rate or EV/EBITDA, as these metrics better capture the company's operational scale and its ability to manage costs relative to its primary revenue driver. Relying on P/E obscures the underlying cash burn and the structural risks associated with the company's thin-margin brokerage operations.
Includes 30+ ratios · 6 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying FUFU stock.
BitFuFu Inc.'s current P/E ratio is -7.9x. The historical average is 15.0x.
BitFuFu Inc.'s current EV/EBITDA is 8.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.9x.
BitFuFu Inc.'s return on equity (ROE) is -20.0%. The historical average is 75.3%.
Based on historical data, BitFuFu Inc. is trading at a P/E of -7.9x. Compare with industry peers and growth rates for a complete picture.
BitFuFu Inc. has 6.1% gross margin and 2.6% operating margin.
BitFuFu Inc.'s Debt/EBITDA ratio is 2.8x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.