Last 48 quarters of trend data · Financial Services · Financial - Capital Markets
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -24.87 | — | 20.24 | 3.94 | — | 9.31 | 306.50 | — | 0.76 | 11.50 | — | — | 5.64 |
| — | — | -93.4% | — | — | -19.0% | — | — | -86.5% | — | — | — | — | |
| P/S Ratio | 24.92 | 13.67 | 12.69 | 13.40 | 13.70 | 1.52 | 6.76 | — | 5.00 | 4.35 | 4.85 | 8.68 | 6.26 |
| — | +797.5% | +87.8% | — | +174.0% | -65.0% | +39.3% | — | -20.1% | +29.4% | +96.6% | +368.9% | -51.6% | |
| P/B Ratio | 3.32 | 2.86 | 1.84 | 1.59 | 1.21 | 2.11 | 1.66 | 2.02 | 1.40 | 1.03 | 18.07 | 1.51 | 0.83 |
| — | +35.6% | +11.0% | -21.2% | -13.4% | +104.3% | -90.8% | +33.7% | +67.9% | +109.5% | +2482.5% | +225.4% | -45.0% | |
| P/FCF | — | 3.56 | — | — | — | — | — | — | — | 19.80 | 52.70 | — | — |
| — | — | — | — | — | — | — | — | — | +1848.3% | — | — | — | |
| EV / EBITDA | — | — | 11.79 | 2.83 | — | 1.96 | 38.87 | — | 1.11 | 21.51 | 36.23 | 37.11 | 90.52 |
| — | — | -69.7% | — | — | -90.9% | +7.3% | — | -98.8% | — | +284.4% | — | — | |
| EV / EBIT | — | — | 16.29 | 3.40 | — | 2.16 | 39.08 | — | 1.15 | 13.94 | 97.78 | 43.68 | 4.21 |
| — | — | -58.3% | — | — | -84.5% | -60.0% | — | -72.6% | — | +305.7% | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Hut 8 Corp.'s operating margin was -491.4% in Q4 2025, down 578.4 pp QoQ and down 574.4 pp YoY. This marks the 3rd consecutive quarter of margin compression, signaling a persistent pressure on profitability that investors should monitor. The trailing four-quarter average of -156.6% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin expanded 69.2% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 91.3% | 159.1% | 61.3% | 47.3% | 14.5% | 94.0% | 59.9% | 156.3% | 45.6% | 47.1% | 37.7% | 41.6% | 45.6% |
| — | +69.2% | +2.4% | -69.8% | -68.3% | +99.4% | +58.9% | +275.7% | -0.1% | +15.7% | -20.7% | -32.5% | -24.2% | |
| Operating Margin | -136.9% | -491.4% | 87.0% | 454.9% | -676.8% | 83.0% | -3.6% | 236.7% | 515.8% | 28.6% | -3.1% | 4.6% | -11.3% |
| — | -692.4% | +2525.1% | +92.2% | -231.2% | +190.4% | -17.1% | +5097.1% | +4647.0% | +105.2% | -128.5% | +110.1% | +50.6% | |
| Net Margin | -96.2% | -316.6% | 60.6% | 332.5% | -613.7% | 44.8% | 1.5% | 196.2% | 484.9% | 27.7% | -20.2% | -8.2% | 110.7% |
| — | -806.9% | +3996.7% | +69.5% | -226.6% | +61.6% | +107.3% | +2489.2% | +337.8% | +104.5% | -1162.4% | +89.6% | +611.6% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -16.9% | -14.0% | 2.7% | 11.6% | -13.6% | 18.0% | 0.1% | -10.2% | 36.3% | 3.2% | -1.8% | -0.4% | 4.2% |
| — | -178.1% | +2828.2% | +213.3% | -137.5% | +466.1% | +105.3% | -2749.6% | +766.5% | +116.8% | -1486.7% | +91.8% | +718.9% | |
| ROA | -10.6% | -8.6% | 1.8% | 7.6% | -8.7% | 11.6% | 0.1% | -6.9% | 25.4% | 1.8% | -1.2% | -0.3% | 3.6% |
| — | -174.2% | +2867.6% | +210.9% | -134.1% | +535.1% | +105.0% | -2145.9% | +599.3% | +111.1% | -1103.2% | +92.0% | +750.8% | |
| ROIC | -14.0% | -13.1% | 2.4% | 9.1% | -8.3% | 17.7% | -0.1% | -6.5% | 21.4% | 1.5% | -0.1% | 0.1% | -0.3% |
| — | -174.0% | +2210.1% | +239.9% | -138.8% | +1070.2% | +21.0% | -4997.5% | +7524.2% | +113.4% | -127.8% | +107.7% | +42.7% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
The current ratio has weakened 34.9% YoY to 1.09x, tightening the short-term liquidity position.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.25 | 0.25 | 0.24 | 0.26 | 0.36 | 0.35 | 0.48 | 0.55 | 0.30 | 0.42 | 6.14 | 0.14 | 0.10 |
| — | -27.9% | -51.1% | -52.8% | +21.7% | -15.7% | -92.1% | +305.6% | +187.8% | +215.0% | +5941.6% | +39.1% | +53.5% | |
| Debt / EBITDA | — | — | 5.41 | 1.74 | — | 1.16 | 36.79 | — | 0.78 | 25.91 | 37.59 | 12.69 | 41.23 |
| — | — | -85.3% | — | — | -95.5% | -2.1% | — | -98.1% | — | +621.0% | — | — | |
| Current Ratio | 1.09 | 1.09 | 0.72 | 1.81 | 1.26 | 1.67 | 1.00 | 1.68 | 0.31 | — | 1.99 | 6.96 | 9.60 |
| — | -34.9% | -27.8% | +8.0% | +306.3% | — | -49.9% | -75.9% | -96.8% | — | -79.2% | -34.5% | -52.3% | |
| Quick Ratio | 1.09 | 1.09 | 0.72 | 1.81 | 1.26 | 1.67 | 1.00 | 1.68 | 0.31 | — | 1.99 | 6.96 | 9.60 |
| — | -34.9% | -27.8% | +8.0% | +306.3% | — | -49.9% | -75.9% | -96.8% | — | -79.2% | -34.5% | -52.3% | |
| Interest Coverage | -10.71 | -77.76 | 8.43 | 22.37 | -19.77 | 29.48 | -0.20 | -14.42 | 42.49 | 1.82 | -0.12 | 0.17 | -0.23 |
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Includes 30+ ratios · 48 years · Updated daily
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Start ComparisonHut 8 Corp.'s current P/E is -24.9x. The average P/E over the last 2 quarters is 12.1x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Hut 8 Corp.'s current operating margin is -136.9%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Hut 8 Corp.'s business trajectory between earnings reports.