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Marathon Digital Holdings, Inc. (MARA) 10-Year Financial Performance & Capital Metrics

MARA • • Banking & Credit
Financial ServicesCapital MarketsCryptocurrency Mining & InfrastructureBitcoin Mining Operators
AboutMarathon Digital Holdings, Inc. operates as a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets in United States. As of December 31, 2021, it had approximately 8,115 bitcoins, which included the 4,794 bitcoins held in the investment fund. The company was formerly known as Marathon Patent Group, Inc. and changed its name to Marathon Digital Holdings, Inc. in February 2021. Marathon Digital Holdings, Inc. was incorporated in 2010 and is headquartered in Las Vegas, Nevada.Show more
  • Net Interest Income $4M +149.3%
  • Total Revenue $656M +69.4%
  • Net Income $541M +107.2%
  • Return on Equity 18.82% -27.9%
  • Net Interest Margin 0.05% +114.4%
  • Efficiency Ratio -70.92% -16.3%
  • ROA 12.31% -24.9%
  • Equity / Assets 60.81% -25.1%
  • Book Value per Share 13.26 +57.8%
  • Tangible BV/Share 12.99 +54.6%
  • Debt/Equity 0.60 +196.3%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Efficient operations: -70.9% efficiency ratio
  • ✓Well capitalized: 60.8% equity/assets
  • ✓Diversified revenue: 97.5% from non-interest income
  • ✓Trading at only 0.8x book value

✗Weaknesses

  • ✗Weak Piotroski F-Score: 1/9
  • ✗Weak NIM of 0.1%
  • ✗Weak momentum: RS Rating 10 (bottom 10%)
  • ✗Shares diluted 62.2% in last year
  • ✗Trading more than 30% below 52-week high

* 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

10Y40.82%
5Y253.73%
3Y60.36%
TTM-

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM292.45%

EPS CAGR

10Y-
5Y-
3Y-
TTM67.59%

ROCE

10Y Avg-111.91%
5Y Avg-8.67%
3Y Avg-10.19%
Latest7.07%

Peer Comparison

Bitcoin Mining Operators
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Size & Scale
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Per Share
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
IRENIREN Limited17.04B51.89133.05167.65%17.35%18.19%0.53
RIOTRiot Platforms, Inc.6.16B16.5748.7434.2%29.05%4.68%0.20
HUTHut 8 Corp.6.19B57.2816.8569.07%204.38%8.96%0.35
BTBTBit Digital, Inc.747.69M2.3111.55264.59%17.29%13.1%0.03
MARAMarathon Digital Holdings, Inc.4.03B10.666.2069.38%82.46%17.91%0.60
CLSKWCleanSpark, Inc.123.65M0.430.39102.21%47.56%16.76%0.38
ARBKArgo Blockchain plc1.51M4.54-0.02-15.95%-113.58%
ABTCAmerican Bitcoin Corp328.24M1.68-0.6610.09%6%57.62%0.01

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Net Interest Income+-4.24M-3.14M-4.87M-2.36M-18.26K-2.64K-891.59K-13.96M-7.54M3.71M
NII Growth %-6.82%0.26%-0.55%0.52%0.99%0.86%-336.59%-14.66%0.46%1.49%
Net Interest Margin %----------
Interest Income1.07K4.35K2.79K14.23K33.65K18.34K677.41K1.02M2.81M16.71M
Interest Expense4.25M3.14M4.87M2.37M51.91K20.98K1.57M14.98M10.35M13M
Loan Loss Provision17.78M28.86M2.96M2.96M3.91M6.89M40.83M136.44M392.5M802.75M
Non-Interest Income+18.98M36.62M516.83K1.55M1.15M4.34M158.49M116.73M384.7M639.67M
Non-Interest Income %----------
Total Revenue+18.98M36.63M519.62K1.56M1.19M4.36M159.16M117.75M387.51M656.38M
Revenue Growth %-0.11%0.93%-0.99%2.01%-0.24%2.68%35.53%-0.26%2.29%0.69%
Non-Interest Expense22.64M20.21M6.87M8.3M1.47M7.26M174.35M639.87M-236.25M-465.48M
Efficiency Ratio----------
Operating Income+-25.68M-15.58M-14.18M-12.08M-4.24M-9.82M-57.59M-673.54M220.91M306.11M
Operating Margin %----------
Operating Income Growth %-3.14%0.39%0.09%0.15%0.65%-1.32%-4.87%-10.7%1.33%0.39%
Pretax Income+-25.1M-17.31M-31.44M-12.75M-3.52M-10.45M-14.52M-718.25M277.6M616.5M
Pretax Margin %----------
Income Tax+-8.16M11.52M-103.95K69.13K02K22.58M-24.23M16.43M75.5M
Effective Tax Rate %----------
Net Income+-16.94M-28.67M-31.33M-12.81M-3.52M-10.45M-37.1M-694.02M261.17M541.25M
Net Margin %----------
Net Income Growth %-8%-0.69%-0.09%0.59%0.73%-1.97%-2.55%-17.71%1.38%1.07%
Net Income (Continuing)-16.94M-28.83M-31.33M-12.81M-3.52M-10.45M-37.1M-694.02M261.17M541.01M
EPS (Diluted)+-19.08-30.22-19.22-2.41-0.61-0.13-0.37-6.121.061.72
EPS Growth %-6.4%-0.58%0.36%0.87%0.75%0.79%-1.85%-15.54%1.17%0.62%
EPS (Basic)-19.08-30.22-19.22-2.41-0.61-0.13-0.37-6.121.411.87
Diluted Shares Outstanding888.05K948.63K1.63M5.32M6.66M81.41M99.34M113.47M192.29M311.84M

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash & Short Term Investments+1000K1000K1000K1000K692.96K1000K1000K1000K1000K1000K
Cash & Due from Banks2.56M5M14.95M2.55M692.96K141.32M268.56M103.7M357.31M391.77M
Short Term Investments00001.14K01000K000
Total Investments+00001.14K0322.14M37M106.29M3.34B
Investments Growth %1%-----1%--0.89%1.87%30.38%
Long-Term Investments0000003M37M106.29M3.34B
Accounts Receivables136.84K95.07K6.83K0000000
Goodwill & Intangibles+----------
Goodwill4.48M222.84K000000082.75M
Intangible Assets25.46M12.31M10.01K1.14M1.07M1M931K206K242K2.71M
PP&E (Net)61.3K28.33K10.01K1.03M4.05M17.42M276.24M274.3M672.22M1.57B
Other Assets9.17K201.2K-10.01K008.41M479.92M606.19M182.66M1.34B
Total Current Assets4.78M5.52M15.05M3.02M1.49M286.41M684.24M277.55M1.03B470.37M
Total Non-Current Assets42.45M12.77M10.01K2.18M5.13M26.84M760.09M917.7M961.17M6.33B
Total Assets+47.23M18.29M15.06M5.19M6.62M313.25M1.44B1.2B1.99B6.8B
Asset Growth %-0.21%-0.61%-0.18%-0.66%0.27%46.32%3.61%-0.17%0.67%2.42%
Return on Assets (ROA)-0.32%-0.88%-1.88%-1.27%-0.6%-0.07%-0.04%-0.53%0.16%0.12%
Accounts Payable6.53M7.22M1.96M1.24M1.24M999.74K7.77M1.31M11.34M12.56M
Total Debt+22.61M17.83M1.76M999.11K1.21M184.1K728.41M783.51M326.13M2.47B
Net Debt20.05M12.83M-13.18M-1.55M514.58K-141.14M459.85M679.81M-31.18M2.08B
Long-Term Debt12.22M4.67M00999.11K62.5K728.41M782.17M325.65M2.45B
Short-Term Debt10.38M13.16M1.76M999.11K0000124K0
Other Liabilities4.33M2.44M00000008.41M
Total Current Liabilities16.95M20.46M7.67M2.27M1.85M1.44M11.25M26.11M33.76M95.2M
Total Non-Current Liabilities17.6M7.11M3.73M999.11K1.12M62.5K750.98M783.19M341.29M2.57B
Total Liabilities34.55M27.58M7.67M2.27M2.97M1.51M762.23M809.3M375.05M2.67B
Total Equity+12.68M-9.29M7.39M2.92M3.65M311.74M682.1M385.94M1.62B4.14B
Equity Growth %-0.48%-1.73%1.8%-0.6%0.25%84.46%1.19%-0.43%3.19%1.56%
Equity / Assets (Capital Ratio)----------
Return on Equity (ROE)-0.92%-16.92%-4.24%-2.49%-1.07%-0.07%-0.07%-1.3%0.26%0.19%
Book Value per Share14.27-9.794.530.550.553.836.873.408.4013.26
Tangible BV per Share----------
Common Stock1.49K1.88K1.25K2.55K8468.2K10K15K24K34K
Additional Paid-in Capital43.22M49.88M97.11M105.46M109.71M428.24M835.69M1.23B2.18B4.16B
Retained Earnings-29.28M-57.94M-89.28M-102.09M-105.61M-116.06M-153.6M-840.34M-567.64M-26.39M
Accumulated OCI-1.27M-1.06M-450.73K-450.72K-450.72K-450.72K0000
Treasury Stock0000000000
Preferred Stock0000000000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-2.96M10.17M-10.81M-8.24M-3.32M-7.77M-18.22M-176.48M-315.65M-677.02M
Operating CF Growth %-1.66%4.44%-2.06%0.24%0.6%-1.34%-1.34%-8.69%-0.79%-1.14%
Net Income-16.94M-28.83M-31.33M-12.81M-3.52M-10.45M-36.17M-686.74M261.17M541.01M
Depreciation & Amortization10.83M7.46M1.85M2.07M1.08M3.16M15.1M78.71M179.51M426.63M
Deferred Taxes-8.28M11.39M00385.45K1.17M23.02M-22.57M15.29M73.22M
Other Non-Cash Items5.18M15.82M17.33M5.82M-507.86K992.99K-43.25M606.1M-391.92M-1.7B
Working Capital Changes3.76M2.38M-629.24K-4.74M-1.69M-3.82M-137.7M-176.57M-412.35M-173.89M
Cash from Investing+-58.39K-3.69M-7.79K-4.16M1.21M-81.29M-891.92M-390.23M4.59M-3.23B
Purchase of Investments000000-153M-500K-71.8M-1.98B
Sale/Maturity of Investments0001000K1000K1000K1000K1000K1000K1000K
Net Investment Activity----------
Acquisitions000000-3M-44M-71.8M-335.63M
Other Investing0-3.68M0-250K00-30M-1.15B-89.15M873K
Cash from Financing+508.84K-4.01M20.45M0245.49K229.69M1.04B410.65M555.86M3.95B
Dividends Paid0000000000
Share Repurchases00000000-15.75M-34.86M
Stock Issued04.65M16.07M0255.89K222.89M312.2M361.49M621.99M1.85B
Net Stock Activity----------
Debt Issuance (Net)490.09K-1000K1000K0063K1000K1000K-1000K1000K
Other Financing18.75K46.67K158.51K0-10.4K-500313.64M-81K-380K4.61M
Net Change in Cash+-2.53M2.44M9.95M-12.4M-1.86M140.63M127.2M-156.05M244.81M46.46M
Exchange Rate Effect-16.63K-31.81K317.87K15000000
Cash at Beginning5.08M2.56M5M14.95M2.55M692.96K141.32M268.56M112.5M357.31M
Cash at End2.56M5M14.95M2.55M692.96K141.32M268.52M112.5M357.31M403.77M
Interest Paid1.98M1.92M1.54M000011.43M7.39M678K
Income Taxes Paid168.38K43.05K5.46K00007K723K1.15M
Free Cash Flow+-3.02M6.48M-10.82M-13.74M-3.32M-91.16M-727.14M-217.59M-343.26M-930.48M
FCF Growth %0.12%3.15%-2.67%-0.27%0.76%-26.43%-6.98%0.7%-0.58%-1.71%

Banking Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)-91.74%-1691.85%-424.11%-248.6%-107.09%-6.63%-7.47%-129.96%26.09%18.82%
Return on Assets (ROA)-31.75%-87.51%-187.93%-126.54%-59.54%-6.53%-4.22%-52.59%16.39%12.31%
Net Interest Margin-8.99%-17.15%-32.33%-45.38%-0.28%-0%-0.06%-1.17%-0.38%0.05%
Efficiency Ratio119.27%55.18%1322.09%531.41%123.75%166.63%109.54%543.4%-60.97%-70.92%
Equity / Assets26.84%-50.78%49.06%56.23%55.1%99.52%47.23%32.29%81.16%60.81%
Book Value / Share14.27-9.794.530.550.553.836.873.48.413.26
NII Growth-682.26%26.12%-55.23%51.58%99.23%85.54%-33659.37%-1465.75%45.98%149.26%

Revenue by Segment

20162018201920202024
Hosting Services----31.64M
Hosting Services Growth-----
Cryptocurrency Mining Revenue-1.5M1.19M4.36M-
Cryptocurrency Mining Revenue Growth---20.74%267.65%-
Other Revenue-66.97K---
Other Revenue Growth-----

Revenue by Geography

20162018201920202024
D108K----
D Growth-----

Frequently Asked Questions

Valuation & Price

Marathon Digital Holdings, Inc. (MARA) has a price-to-earnings (P/E) ratio of 6.2x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Marathon Digital Holdings, Inc. (MARA) grew revenue by 69.4% over the past year. This is strong growth.

Yes, Marathon Digital Holdings, Inc. (MARA) is profitable, generating $926.7M in net income for fiscal year 2024 (82.5% net margin).

Dividend & Returns

Marathon Digital Holdings, Inc. (MARA) has a return on equity (ROE) of 18.8%. This is reasonable for most industries.

Industry Metrics

Marathon Digital Holdings, Inc. (MARA) has a net interest margin (NIM) of 0.1%. NIM has been under pressure due to interest rate environment.

Marathon Digital Holdings, Inc. (MARA) has an efficiency ratio of -70.9%. This is excellent, indicating strong cost control.

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