14 years of historical data (2012–2025) · Financial Services · Financial - Capital Markets
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Hut 8 Corp. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $5.9B | $4.8B | $2.1B | $664M | $620M | $1.1B | $259M | $71M | $88M | — | — |
| Enterprise Value | $6.2B | $5.2B | $2.3B | $892M | $637M | $954M | $257M | $94M | $117M | — | — |
| P/E Ratio → | -24.87 | — | 6.03 | 23.82 | — | — | 13.75 | 39.20 | — | — | — |
| P/S Ratio | 24.92 | 20.58 | 12.75 | 6.92 | 7.14 | 13.30 | 6.37 | 0.87 | 1.78 | — | — |
| P/B Ratio | 3.32 | 2.86 | 2.11 | 1.03 | 1.73 | 1.86 | 7.06 | 1.66 | 2.70 | — | — |
| P/FCF | — | — | — | — | — | — | — | 13.47 | — | — | — |
| P/OCF | — | — | — | — | — | — | — | 4.90 | — | — | — |
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 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 22.22 | 14.36 | 9.29 | 7.34 | 12.04 | 6.31 | 1.15 | 2.37 | — | — |
| EV / EBITDA | — | — | 4.59 | 43.74 | — | — | — | 3.10 | — | — | — |
| EV / EBIT | — | — | 4.84 | 19.03 | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | 17.85 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Hut 8 Corp. earns an operating margin of -136.9%, below the Financial Services sector average of 21.9%. Operating margins have compressed from 9.8% to -136.9% over the past 3 years, signaling potential cost pressures or competitive headwinds. A negative ROE of -16.9% indicates the company is currently destroying shareholder equity.
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 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 91.3% | 91.3% | 46.6% | 43.6% | 50.3% | 67.4% | -51.8% | 2.6% | -47.5% | 88.3% | — |
| Operating Margin | -136.9% | -136.9% | 283.6% | 9.8% | -79.2% | -25.0% | -17.5% | -3.2% | -99.3% | 20.4% | — |
| Net Profit Margin | -96.2% | -96.2% | 204.4% | 22.7% | -75.6% | -40.2% | -47.4% | 2.6% | -276.6% | 8.4% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -16.9% | -16.9% | 40.9% | 4.4% | -14.2% | -10.6% | -48.6% | 5.7% | -837.3% | 1463.8% | -87.8% |
| ROA | -10.6% | -10.6% | 26.6% | 3.1% | -11.6% | -8.3% | -33.8% | 2.8% | -328.9% | 204.6% | -33.8% |
| ROIC | -14.0% | -14.0% | 30.9% | 1.1% | -10.2% | -4.6% | -9.7% | -3.0% | -113.3% | 2667.0% | -65.8% |
| ROCE | -17.2% | -17.2% | 42.0% | 1.6% | -12.8% | -5.4% | -14.3% | -4.3% | -161.1% | 3556.0% | -87.8% |
Solvency and debt-coverage ratios — lower is generally safer
Net debt stands at $384M ($429M total debt minus $45M cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.25 | 0.25 | 0.35 | 0.42 | 0.13 | 0.07 | 0.13 | 0.61 | 0.99 | — | — |
| Debt / EBITDA | — | — | 0.68 | 13.17 | — | — | — | 0.86 | — | — | — |
| Net Debt / Equity | — | 0.23 | 0.27 | 0.35 | 0.05 | -0.18 | -0.06 | 0.54 | 0.88 | -26.68 | -4.22 |
| Net Debt / EBITDA | — | — | 0.51 | 11.17 | — | — | — | 0.76 | — | -0.11 | — |
| Debt / FCF | — | — | — | — | — | — | — | 4.38 | — | — | — |
| Interest Coverage | -10.71 | -10.71 | 15.46 | 0.38 | -9.05 | -14.62 | -2.91 | -0.55 | -54.29 | — | — |
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.09x means Hut 8 Corp. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 0.55x to 1.09x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.09 | 1.09 | 1.67 | 0.55 | 8.15 | 17.96 | 1.60 | 1.68 | 0.17 | 1.04 | 1.30 |
| Quick Ratio | 1.09 | 1.09 | 1.67 | 0.55 | 8.15 | 17.96 | 1.60 | 1.68 | 0.17 | 1.04 | 1.30 |
| Cash Ratio | 0.12 | 0.12 | 0.55 | 0.28 | 1.01 | 5.38 | 1.10 | 0.34 | 0.16 | 1.03 | 1.28 |
| Asset Turnover | — | 0.09 | 0.11 | 0.10 | 0.21 | 0.11 | 0.94 | 1.15 | 0.60 | 25.64 | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Hut 8 Corp. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
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 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 16.6% | 4.2% | — | — | 7.3% | 2.6% | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | 7.4% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $105M | $101M | $50M | $38M | $27M | $19M | $18M | $17M | $11368 | $11368 |
Compare HUT with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| HUTYou | $6B | -24.9 | — | — | 91.3% | -136.9% | -16.9% | -14.0% | — |
| IREN | $14B | 105.0 | 70.6 | — | 68.3% | 3.5% | 6.0% | 0.7% | 4.9 |
| BMNR | $8B | 1.4 | 16.3 | — | 5.1% | 7288.1% | 8.0% | 7.7% | — |
| WULF | $7B | -77.2 | — | — | 55.3% | -54.4% | -31.0% | -10.6% | — |
| CIFR | $6B | -7.3 | 199.0 | — | -60.5% | -76.7% | -108.3% | -15.8% | 1.9 |
| RIOT | $6B | 47.9 | 17.5 | — | 30.2% | 40.8% | 4.3% | 4.1% | 1.7 |
| MARA | $3B | -2.4 | — | — | — | -135.0% | — | -74.2% | — |
| BITF | $1B | -16.9 | 38.3 | — | -16.8% | -55.8% | -12.0% | -17.1% | 0.7 |
| BTBT | $538M | 8.3 | 7.6 | — | 61.9% | 16.8% | 9.2% | 6.5% | 0.2 |
| FUFU | $387M | 7.2 | 4.2 | — | 6.4% | 14.3% | 60.0% | 46.2% | 0.4 |
| ABTC | $199M | 2.2 | 0.4 | — | 44.8% | 676.7% | 57.6% | 47.2% | 0.0 |
| Financial Services Median | — | 13.8 | 11.1 | 11.2 | 60.2% | 21.9% | 9.1% | 5.4% | 4.1 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 14 years · Updated daily
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View ValuationSee how HUT stacks up against sector leader IREN Limited.
Start ComparisonHut 8 Corp.'s current P/E ratio is -24.9x. The historical average is 20.7x.
Hut 8 Corp.'s return on equity (ROE) is -16.9%. The historical average is -22.0%.
Based on historical data, Hut 8 Corp. is trading at a P/E of -24.9x. Compare with industry peers and growth rates for a complete picture.
Hut 8 Corp. has 91.3% gross margin and -136.9% operating margin.