Upside case
Bull case
—
The bull case requires both strong earnings delivery and the market pricing GLXY more generously than it does today.
Analysis OverviewBuyUpdated May 1, 2026
Galaxy Digital (GLXY) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
11
analysts
9 bullish · 0 bearish · 11 covering GLXY
Strong Buy
0
Buy
9
Hold
2
Sell
0
Strong Sell
0
Consensus Target
$37
+20.3% vs today
Scenario Range
— – —
Model bear to bull value window
Coverage
11
Published analyst ratings
Valuation Context
—
Forward P/E · Market cap $121.1B
GLXY price targets
Three scenarios for where GLXY stock could go
Current
~$31
Confidence
51 / 100
Updated
May 1, 2026
Market caseClosest to today
Base case
—
The base case reflects analyst consensus expectations — steady delivery without requiring a major catalyst or re-rating.
Stress case
Bear case
—
The bear case reflects a scenario where earnings shortfalls or multiple compression combine to materially reduce the stock from its current level.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Galaxy Digital
GLXY · NASDAQFinancial ServicesFinancial - Capital MarketsDecember year-end
Galaxy Digital is a diversified financial services firm focused exclusively on the digital asset and blockchain ecosystem. It generates revenue through three main segments: Global Markets (trading, lending, and capital markets services), Asset Management (investment products and advisory services), and Digital Infrastructure Solutions (mining and validator services). The company's competitive advantage lies in its comprehensive institutional-grade platform that provides integrated access across the entire digital asset value chain—from trading and investment to infrastructure—serving as a one-stop shop for institutional crypto exposure.
Market Cap
$121.1B
Net Income TTM
$40M
GLXY Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
75%Exceptional
5 quarters tracked
Revenue Beat Rate
33%Exceptional
vs consensus estimates
Avg EPS Surprise
+107.4%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 3 of 4Q3 2025
EPS
$0.08/$-0.06
Revenue
$8.7B/$21.6B
Q4 2025
EPS
$1.12/$0.38
Revenue
—/$18.6B
Q1 2026
EPS
$-1.08/$-1.24
Revenue
$10.2B/$12.0B
Q2 2026
EPS
$-0.49/$-0.44
Revenue
$10.2B/$8.7B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $0.08/$-0.06 | +233.3% | $8.7B/$21.6B | -59.9% |
| Q4 2025 | $1.12/$0.38 | +194.7% | —/$18.6B | — |
| Q1 2026 | $-1.08/$-1.24 | +12.9% | $10.2B/$12.0B | -14.8% |
| Q2 2026 | $-0.49/$-0.44 | -11.4% | $10.2B/$8.7B | +17.0% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$69.6B
+13.4% YoY
FY2
$89.0B
+27.8% YoY
EPS Outlook
FY1
$-0.10
-1049.5% YoY
FY2
$0.04
+143.3% YoY
Trailing FCF (TTM)$55M
Next Earnings
—
Expected EPS
—
Expected Revenue
—
GLXY beat EPS estimates in 3 of 4 tracked quarters. A strong delivery record supports forward estimate credibility.
GLXY Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Significantly Overvalued
Fair value est. $2 — implies -93.7% from today's price.
Premium to Fair Value
93.7%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
GLXY
-58.7x
vs
S&P 500
25.2x
333% discount
vs Financial Services Trailing P/E
GLXY
-58.7x
vs
Financial Services
13.4x
539% discount
vs GLXY 5Y Avg P/E
Today
-58.7x
vs
5Y Average
—
Benchmark unavailable
Forward PE
—
S&P 500
19.1x
—
Financial Services
10.5x
—
5Y Avg
—
—
Trailing PE
-58.7x
S&P 500
25.2x
-333%
Financial Services
13.4x
-539%
5Y Avg
—
—
PEG Ratio
—
S&P 500
1.74x
—
Financial Services
1.02x
—
5Y Avg
—
—
EV/EBITDA
205.2x
S&P 500
15.2x
+1248%
Financial Services
11.5x
+1691%
5Y Avg
—
—
Price/FCF
—
S&P 500
21.3x
—
Financial Services
10.7x
—
5Y Avg
—
—
Price/Sales
2.0x
S&P 500
3.1x
-37%
Financial Services
2.2x
-12%
5Y Avg
1.4x
+39%
Dividend Yield
0.04%
S&P 500
1.87%
-98%
Financial Services
2.68%
-98%
5Y Avg
0.06%
-28%
| Metric | GLXY | S&P 500 | Financial Services | 5Y Avg GLXY |
|---|---|---|---|---|
| Forward PE | — | 19.1x | 10.5x | — |
| Trailing PE | -58.7x | 25.2x-333% | 13.4x-539% | — |
| PEG Ratio | — | 1.74x | 1.02x | — |
| EV/EBITDA | 205.2x | 15.2x+1248% | 11.5x+1691% | — |
| Price/FCF | — | 21.3x | 10.7x | — |
| Price/Sales | 2.0x | 3.1x-37% | 2.2x-12% | 1.4x+39% |
| Dividend Yield | 0.04% | 1.87% | 2.68% | 0.06% |
GLXY trades above S&P 500 benchmarks on 1 of 3 measured multiples — is elevated on some multiples, but competitive on others — a mixed valuation picture.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolGLXY Financial Health
Verdict
Stressed
GLXY generates 1.5% ROE and 0.4% return on assets — the two primary signals for banking profitability. FCF-based metrics are not applicable to financial companies.
Earnings Engine
Revenue, profitability, and return on capital
Revenue (TTM)
Trailing-twelve-month sales base
—
Revenue Growth
TTM vs prior year
—
Operating Margin
Operating income divided by revenue
—
Net Margin
Net income divided by revenue
—
EPS (TTM)
Diluted earnings per share, trailing twelve months
$0.01
ROE
Return on equity — the primary profitability signal for banks
1.5%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
9.2%
ROA
Return on assets, trailing twelve months
0.4%
Cash & Equivalents
Liquid assets on the balance sheet
$1.4B
Net Debt
Total debt minus cash
$3.9B
FCF Analysis
Traditional FCF and debt/FCF ratios are not meaningful for financial companies. Focus on ROE and ROA above.
ROE
Return on equity — the headline bank profitability metric
1.5%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.0%
Dividend
0.0%
Buyback
0.0%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$0
Dividend / Share
Annualized trailing dividend per share
$0.01
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Current diluted share count
3.9B
All figures from the trailing twelve months. For financial companies, ROE and ROA are the primary health signals — FCF-based metrics are not applicable.
Open full ratios pageGLXY Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Cryptocurrency Market Volatility
Galaxy Digital's performance is heavily tied to the price fluctuations of digital assets. A significant downturn in the crypto market can reduce the value of its holdings, decrease trading volumes and revenues, and negatively impact its asset management fees.
High Risk
Regulatory Uncertainty
The cryptocurrency industry faces ongoing regulatory scrutiny, and adverse regulatory developments can negatively impact Galaxy Digital's digital asset business. The company has faced past enforcement actions, including a significant settlement related to its involvement with the Terra LUNA token.
High Risk
Financial Health and Profitability
Galaxy Digital has reported net losses, with its Q1 2026 results showing a $216 million GAAP net loss. The company remains unprofitable on a trailing basis, making traditional valuation metrics difficult to apply.
Medium
Counterparty and Credit Risks
The company is exposed to counterparty and credit risks, particularly within its lending operations. The recent bear market has highlighted these risks, which could lead to significant financial repercussions.
Medium
Trading and Market-Making Risks
A significant portion of Galaxy Digital's revenue comes from crypto market making, which has narrow margins and is highly dependent on trading volume. Fluctuations in trading activity can adversely affect revenue.
Medium
Operational and Execution Risks
Challenges in developing infrastructure and executing on its data center and AI initiatives, such as the Helios project, present operational risks. While the Helios project shows promise, execution risks remain.
Lower
Competitive Landscape
Galaxy Digital faces competition from both traditional financial institutions and other players in the rapidly evolving blockchain and data center industries. This competitive pressure could impact market share and profitability.
Lower
Insider Sentiment
Recent insider sentiment for GLXY has been negative, driven by significant open-market selling from key executives. This could signal a lack of confidence in the company's future performance.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why GLXY Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
Diversification into AI and Data Centers
Galaxy Digital is transitioning from a primary focus on cryptocurrency to high-margin AI and data center infrastructure. The Helios campus in Texas is a key part of this strategy, with the first data hall set to be delivered to CoreWeave, expected to generate a steady revenue stream less correlated with crypto market volatility.
Leadership in Tokenized Equities
Galaxy Digital is a pioneer in offering tokenized versions of real shares, providing full economic and legal rights. This first-mover advantage positions them well in a market projected to reach $190 trillion globally over the next two decades, appealing to institutional investors with benefits like 24/7 trading and lower fees.
Strong Analyst Support
A significant majority of Wall Street analysts maintain a positive outlook on GLXY stock, with many issuing 'Buy' or 'Strong Buy' ratings. This analyst sentiment reflects confidence in the company's strategic direction and growth potential.
Financial Resilience Amid Market Volatility
Despite market fluctuations, Galaxy Digital has shown resilience, ending 2025 with $12 billion in assets and $2.6 billion in cash and stablecoins. This financial cushion allows the company to navigate digital asset volatility while continuing investments in AI and data centers.
Favorable Political Developments
Recent political developments, including Donald Trump's support for the Genius Act, are seen as positive tailwinds for Galaxy Digital. This regulatory clarity is expected to reduce risks and potentially unlock further upside for GLXY stock.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
GLXY Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$31.12
52W Range Position
50%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$16.43
+89.4% from the low
52-Week High
$45.92
-32.2% from the high
1 Month
+70.24%
3 Month
+57.49%
YTD
+25.7%
1 Year
+36.5%
3Y CAGR
+10.9%
5Y CAGR
+6.4%
10Y CAGR
+3.2%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
GLXY vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
—
vs 41.9x median
Peer median unavailable
Revenue Growth
+13.4%
vs +18.5% median
-28% below peer median
Net Margin
—
vs -2566.2% median
Peer median unavailable
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
GLX GLXY Galaxy Digital | $121.1B | — | +13.4% | — | Buy | +20.3% |
COI COIN Coinbase Global, Inc. | $56.9B | 67.8x | +3.2% | — | Buy | +22.9% |
MST MSTR Strategy Inc | $51.9B | 2.5x | +1.3% | -2566.2% | Buy | +50.3% |
HOO HOOD Robinhood Markets, Inc. | $71.2B | 41.9x | +18.5% | — | Buy | +48.2% |
MAR MARA Marathon Digital Holdings, Inc. | $5.0B | — | +29.5% | — | Buy | +23.8% |
RIO RIOT Riot Platforms, Inc. | $9.0B | — | +38.2% | — | Buy | +17.8% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
GLXY Dividend and Capital Return
GLXY does not currently return meaningful capital to shareholders.
Dividend UnknownFCF Stretched
Total Shareholder Yield
0.0%
Dividend + buyback return per year
Buyback Yield
0.0%
Dividend Yield
0.04%
Payout Ratio
—
How GLXY Splits Its Return
Div 0.04%
Dividend 0.04%Buybacks 0.0%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.01
Growth Streak
Consecutive years of dividend increases
1Y
3Y Div CAGR
—
5Y Div CAGR
—
Ex-Dividend Date
—
Payment Cadence
—
0 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$0
Estimated Shares Retired
0
Approx. Share Reduction
0.0%
Shares Outstanding
Current diluted share count from the screening snapshot
3.9B
FAQ
7 questionsGLXY Investor Questions
Common questions answered from live analyst data and company financials.
01Is Galaxy Digital (GLXY) stock a buy or sell in 2026?
Galaxy Digital (GLXY) is rated Buy by Wall Street analysts as of 2026. Of 11 analysts covering the stock, 9 rate it Buy or Strong Buy, 2 rate it Hold, and 0 rate it Sell or Strong Sell. The consensus 12-month price target is $37, implying +20.3% from the current price of $31.
02What is the GLXY stock price target for 2026?
The Wall Street consensus price target for GLXY is $37 based on 11 analyst estimates. The high-end target is $60 (+92.8% from today), and the low-end target is $24 (-22.9%).
03Is Galaxy Digital (GLXY) stock overvalued in 2026?
Forward earnings data for GLXY is not currently available. Review the valuation table above for trailing P/E, EV/EBITDA, and price-to-sales comparisons against market and sector benchmarks.
04What are the main risks for Galaxy Digital (GLXY) stock in 2026?
The primary risks for GLXY in 2026 are: (1) Cryptocurrency Market Volatility — Galaxy Digital's performance is heavily tied to the price fluctuations of digital assets. (2) Regulatory Uncertainty — The cryptocurrency industry faces ongoing regulatory scrutiny, and adverse regulatory developments can negatively impact Galaxy Digital's digital asset business. (3) Financial Health and Profitability — Galaxy Digital has reported net losses, with its Q1 2026 results showing a $216 million GAAP net loss. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Galaxy Digital's revenue and earnings forecast?
Analyst consensus estimates GLXY will report consensus revenue of $69.6B (+13.4% year-over-year) and EPS of $-0.10 (-1049.5% year-over-year) for the upcoming fiscal year. The following year, analysts project $89.0B in revenue.
06When does Galaxy Digital (GLXY) report its next earnings?
A confirmed upcoming earnings date for GLXY is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does Galaxy Digital generate?
Galaxy Digital (GLXY) generated $55M in free cash flow over the trailing twelve months. GLXY returns capital to shareholders through dividends (0.0% yield) and share repurchases ($0 TTM).