24 years of historical data (2001–2024) · 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
Riot Platforms, Inc. trades at 47.9x earnings, 60% above its 5-year average of 30.0x, sitting at the 100th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.8x, the stock trades at a premium of 248%.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $6.0B | $3.3B | $2.7B | $473M | $2.1B | $713M | $22M | $20M | $171M | $16M | — |
| Enterprise Value | $6.4B | $3.6B | $2.1B | $265M | $1.8B | $490M | $15M | $22M | $129M | $10M | — |
| P/E Ratio → | 47.91 | 30.03 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 16.05 | 8.65 | 9.65 | 1.82 | 9.79 | 59.03 | 3.21 | 2.58 | 634.00 | 147.12 | — |
| P/B Ratio | 1.65 | 1.04 | 1.43 | 0.41 | 1.55 | 2.57 | 0.84 | 4.51 | 3.44 | 1.05 | — |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | 81.84 | 891.85 | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Riot Platforms, Inc.'s enterprise value stands at 17.5x EBITDA, 66% above its 5-year average of 10.5x. The Financial Services sector median is 11.1x, placing the stock at a 57% premium on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.54 | 7.60 | 1.02 | 8.38 | 40.54 | 2.18 | 2.77 | 480.04 | 96.32 | — |
| EV / EBITDA | 17.45 | 9.82 | 11.26 | — | — | — | — | — | — | — | — |
| EV / EBIT | 41.54 | 32.03 | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Riot Platforms, Inc. earns an operating margin of 40.8%, significantly above the Financial Services sector average of 21.9%. Operating margins have expanded from -197.8% to 40.8% over the past 3 years, signaling improving operational efficiency. ROE of 4.3% is modest, trailing the sector median of 9.1%. ROIC of 4.1% represents below-average returns on invested capital versus a sector median of 5.4%.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 30.2% | 30.2% | 9.4% | 25.3% | 61.5% | 48.3% | 10.8% | 25.8% | 90.7% | 97.1% | 84.6% |
| Operating Margin | 40.8% | 40.8% | -22.5% | -197.8% | -14.0% | -128.7% | -137.7% | -756.7% | -4878.2% | -5943.7% | -4416.6% |
| Net Profit Margin | 29.0% | 29.0% | -17.6% | -196.6% | -7.2% | -116.8% | -293.1% | -739.4% | -7359.7% | -4026.6% | -4421.1% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.3% | 4.3% | -3.3% | -40.8% | -1.9% | -9.3% | -130.4% | -214.4% | -61.5% | -27.6% | -44.1% |
| ROA | 3.7% | 3.7% | -2.9% | -35.9% | -1.7% | -9.1% | -90.6% | -175.3% | -57.2% | -22.5% | -35.3% |
| ROIC | 4.1% | 4.1% | -3.1% | -30.3% | -2.7% | -7.7% | -43.1% | -159.2% | -30.4% | -28.4% | -29.7% |
| ROCE | 5.4% | 5.4% | -4.0% | -39.3% | -3.5% | -10.2% | -55.0% | -203.0% | -39.1% | -36.0% | -38.0% |
Solvency and debt-coverage ratios — lower is generally safer
Riot Platforms, Inc. carries a Debt/EBITDA ratio of 1.7x, which is manageable (59% below the sector average of 4.1x). Net debt stands at $335M ($613M total debt minus $278M cash). Interest coverage of 77.4x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.20 | 0.20 | 0.01 | 0.02 | 0.01 | — | 0.01 | 0.38 | 0.00 | 0.01 | 0.13 |
| Debt / EBITDA | 1.68 | 1.68 | 0.11 | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.11 | -0.30 | -0.18 | -0.22 | -0.81 | -0.27 | 0.33 | -0.84 | -0.36 | 0.01 |
| Net Debt / EBITDA | 0.92 | 0.92 | -3.04 | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | 77.38 | 77.38 | — | -391.67 | -100.91 | — | -77.19 | -482.65 | -2.74 | -207.42 | -88.40 |
Short-term solvency ratios and asset-utilisation metrics
Riot Platforms, Inc.'s current ratio of 3.74x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 3.65x to 3.74x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.74 | 3.74 | 8.33 | 3.65 | 5.14 | 98.57 | 3.75 | 0.35 | 40.74 | 13.03 | 9.16 |
| Quick Ratio | 3.74 | 3.74 | 8.33 | 3.65 | 5.14 | 98.57 | 3.75 | 0.35 | 40.74 | 13.03 | 9.16 |
| Cash Ratio | 1.73 | 1.73 | 4.93 | 1.90 | 2.84 | 93.19 | 2.21 | 0.03 | 40.03 | 5.24 | 1.12 |
| Asset Turnover | — | 0.10 | 0.14 | 0.20 | 0.14 | 0.04 | 0.23 | 0.57 | 0.01 | 0.01 | 0.01 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Riot Platforms, Inc. returns 0.2% to shareholders annually primarily through share buybacks. The earnings yield of 2.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | 100.0% | 4.9% | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.1% | 3.3% | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.2% | 0.4% | 0.5% | 2.1% | 0.2% | 0.1% | 0.0% | 0.0% | 0.2% | 0.0% | — |
| Total Shareholder Yield | 0.2% | 0.4% | 0.5% | 2.1% | 0.2% | 0.1% | 0.0% | 100.0% | 5.1% | 0.0% | — |
| Shares Outstanding | — | $319M | $175M | $139M | $93M | $42M | $20M | $13M | $6M | $4M | $4M |
Compare RIOT 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 |
|---|---|---|---|---|---|---|---|---|---|
| RIOTYou | $6B | 47.9 | 17.5 | — | 30.2% | 40.8% | 4.3% | 4.1% | 1.7 |
| 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 |
| HUT | $6B | -24.9 | — | — | 91.3% | -136.9% | -16.9% | -14.0% | — |
| 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 · 24 years · Updated daily
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Start ComparisonRiot Platforms, Inc.'s current P/E ratio is 47.9x. The historical average is 30.0x. This places it at the 100th percentile of its historical range.
Riot Platforms, Inc.'s current EV/EBITDA is 17.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.5x.
Riot Platforms, Inc.'s return on equity (ROE) is 4.3%. The historical average is -72.8%.
Based on historical data, Riot Platforms, Inc. is trading at a P/E of 47.9x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Riot Platforms, Inc. has 30.2% gross margin and 40.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Riot Platforms, Inc.'s Debt/EBITDA ratio is 1.7x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.