Last 47 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 → | -3.53 | — | 16.91 | 2.13 | — | 3.35 | — | — | 4.48 | 6.12 | 6.25 | — | 3.03 |
| — | — | — | — | — | -45.2% | — | — | +48.0% | — | — | — | — | |
| P/S Ratio | 5.46 | 3.94 | 8.50 | 7.25 | 4.63 | 8.21 | 9.08 | 9.53 | 9.15 | 8.74 | 4.12 | 7.14 | 6.79 |
| — | -52.0% | -6.4% | -23.9% | -49.5% | -6.1% | +120.7% | +33.4% | +34.9% | +132.0% | -83.3% | +21.8% | -51.3% | |
| P/B Ratio | 1.33 | 0.92 | 1.66 | 1.44 | 1.06 | 1.70 | 1.68 | 2.09 | 2.44 | 3.39 | 1.58 | 3.83 | 2.54 |
| — | -46.1% | -1.0% | -31.1% | -56.5% | -49.8% | +6.1% | -45.3% | -4.0% | +205.6% | -20.9% | +331.8% | -31.7% | |
| P/FCF | — | 1.57 | — | — | — | — | — | 353.06 | 32.18 | 22.01 | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | — | — | 13.26 | 2.81 | — | 4.77 | — | — | 3.36 | 32.13 | — | 23.68 | 3.57 |
| — | — | — | — | — | -85.2% | — | — | -5.9% | — | — | — | — | |
| EV / EBIT | — | — | 16.42 | 2.29 | — | 3.48 | — | — | 4.03 | 5.66 | 206.78 | — | 4.08 |
| — | — | — | — | — | -38.5% | — | — | -1.2% | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Marathon Digital Holdings, Inc.'s operating margin was -164.0% in Q4 2025, down 182.9 pp QoQ and down 323.1 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 -28.3% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin contracted 384.0% YoY, suggesting cost inflation or competitive pricing pressure.
| 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 | -47.7% | -119.2% | 82.9% | 82.5% | 79.7% | -24.6% | -50.9% | 35.3% | 96.3% | 6.8% | -15.7% | -13.1% | 0.0% |
| — | -384.0% | +262.9% | +133.6% | -17.3% | -460.8% | -225.0% | +368.9% | +223887.7% | +112.8% | +92.7% | +80.1% | -99.9% | |
| Operating Margin | -90.6% | -164.0% | 18.9% | 285.0% | -253.0% | 159.1% | -130.8% | -160.1% | 223.8% | -18.2% | -81.9% | -7.4% | 238.7% |
| — | -203.1% | +114.4% | +278.0% | -213.0% | +973.3% | -59.7% | -2057.8% | -6.3% | +98.8% | +76.4% | +99.1% | +948.9% | |
| Net Margin | -144.6% | -845.0% | 48.8% | 338.9% | -249.3% | 246.5% | -94.8% | -137.6% | 204.1% | 142.5% | -0.4% | -11.0% | 232.1% |
| — | -442.8% | +151.5% | +346.4% | -222.1% | +73.0% | -23680.9% | -1155.0% | -12.1% | +110.0% | +99.9% | +98.7% | +1034.3% |
| 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 | -34.5% | -39.5% | 2.5% | 19.0% | -13.6% | 15.1% | -4.5% | -7.8% | 16.5% | 17.0% | -0.0% | -1.6% | 25.5% |
| — | -361.4% | +154.4% | +343.1% | -182.3% | -10.8% | -9396.2% | -403.1% | -35.3% | +121.1% | +99.6% | +94.8% | +1543.5% | |
| ROA | -18.4% | -20.6% | 1.5% | 11.4% | -8.1% | 10.2% | -3.7% | -6.6% | 13.6% | 13.2% | -0.0% | -0.7% | 9.5% |
| — | -302.6% | +139.2% | +273.6% | -159.1% | -23.1% | -13067.8% | -881.9% | +43.5% | +143.5% | +99.4% | +95.2% | +1202.2% | |
| ROIC | -9.0% | -3.1% | 0.4% | 7.4% | -6.3% | 5.1% | -4.0% | -6.0% | 11.7% | -1.3% | -4.5% | -0.3% | 7.5% |
| — | -161.7% | +111.0% | +223.0% | -153.7% | +488.6% | +10.8% | -1632.0% | +55.9% | +94.7% | -91.7% | +96.6% | +1098.7% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
The current ratio has weakened 74.2% YoY to 1.27x, tightening the short-term liquidity position. Debt/Equity has risen for 3 consecutive quarters, indicating increasing financial leverage that investors should watch closely.
| 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 | 1.05 | 1.05 | 0.70 | 0.55 | 0.71 | 0.60 | 0.22 | 0.13 | 0.14 | 0.20 | 0.32 | 1.20 | 1.35 |
| — | +75.3% | +214.5% | +320.1% | +414.4% | +196.3% | -29.9% | -89.1% | -89.8% | -90.1% | -74.5% | +3.6% | +42.5% | |
| Debt / EBITDA | — | — | 16.95 | 3.14 | — | 5.17 | — | — | 0.75 | 7.69 | — | 23.55 | 5.25 |
| — | — | — | — | — | -32.7% | — | — | -85.6% | — | — | — | — | |
| Current Ratio | 1.27 | 1.27 | 2.09 | 0.54 | 0.79 | 4.94 | 4.00 | 3.75 | 23.07 | 30.51 | 11.33 | 14.91 | 16.22 |
| — | -74.2% | -47.7% | -85.7% | -96.6% | -83.8% | -64.7% | -74.9% | +42.2% | +187.0% | +115.0% | +271.0% | -59.5% | |
| Quick Ratio | 1.27 | 1.27 | 2.09 | 0.54 | 0.79 | 4.94 | 4.00 | 3.75 | 23.07 | 30.51 | 11.33 | 14.91 | 16.22 |
| — | -74.2% | -47.7% | -85.7% | -96.6% | -83.8% | -64.7% | -74.9% | +42.2% | +187.0% | +115.0% | +271.0% | -59.5% | |
| Interest Coverage | -16.99 | -25.83 | 13.60 | 80.21 | -64.65 | 81.53 | -73.27 | -167.97 | 299.75 | 198.26 | 0.88 | -2.08 | 32.59 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Marathon Digital Holdings, Inc.'s current P/E is -3.5x. The average P/E over the last 2 quarters is 9.5x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Marathon Digital Holdings, Inc.'s current operating margin is -90.6%. 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 Marathon Digital Holdings, Inc.'s business trajectory between earnings reports.