Last 40 quarters of trend data · Financial Services · Financial - Capital Markets
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
EV/EBITDA has compressed 82.7% YoY to 413.7x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -77.24 | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| P/S Ratio | 50.87 | 22.67 | 8.89 | 7.60 | 15.60 | 16.52 | 10.65 | 4.50 | 7.13 | 3.55 | 5.96 | 3.36 | 2.30 |
| — | +37.2% | -16.5% | +68.8% | +118.7% | +364.9% | +78.9% | +33.9% | +210.1% | -59.9% | -73.6% | -99.7% | -99.6% | |
| P/B Ratio | 23.31 | 18.54 | 9.72 | 6.14 | 8.93 | 4.80 | 3.92 | 2.81 | 2.99 | 1.81 | 2.73 | 1.06 | 0.75 |
| — | +286.4% | +147.7% | +118.8% | +199.1% | +164.4% | +43.7% | +164.7% | +299.5% | +61.2% | +195.2% | -84.7% | -93.9% | |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | — | 413.73 | 133.39 | — | — | 2398.29 | 48.73 | 15.72 | 47.67 | — | 143.96 | — | — |
| — | -82.7% | +173.7% | — | — | — | -66.1% | — | — | — | — | — | — | |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
TeraWulf Inc.'s operating margin was -48.8% in Q3 2025, down 16.1 pp QoQ and up 9.3 pp YoY. The trailing four-quarter average of -100.5% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 44.4% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 55.3% | 66.1% | 53.6% | 28.6% | 43.9% | 45.8% | 60.9% | 66.0% | 61.6% | 57.9% | 66.9% | 56.6% | 44.8% |
| — | +44.4% | -11.9% | -56.6% | -28.8% | -20.9% | -9.0% | +16.6% | +37.5% | +270.0% | +16.7% | -33.6% | -0.3% | |
| Operating Margin | -54.4% | -48.8% | -32.7% | -173.3% | -147.0% | -58.1% | -19.0% | -5.5% | -20.0% | -49.3% | -37.8% | -80.0% | -139.9% |
| — | +16.0% | -72.1% | -3075.4% | -633.5% | -17.8% | +49.7% | +93.2% | +85.7% | +85.8% | +93.3% | +98.1% | +97.9% | |
| Net Margin | -51.7% | -899.7% | -38.6% | -178.5% | -83.5% | -84.0% | -30.6% | -22.7% | -45.2% | -97.2% | -113.5% | -227.7% | -260.8% |
| — | -970.9% | -26.1% | -688.0% | -84.6% | +13.6% | +73.1% | +90.0% | +82.7% | +89.0% | +88.5% | +97.3% | +96.1% |
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -31.0% | -215.8% | -10.7% | -29.6% | -9.5% | -6.0% | -3.3% | -3.9% | -5.6% | -13.2% | -12.5% | -19.9% | -20.8% |
| — | -3502.4% | -222.7% | -662.1% | -69.2% | +54.7% | +73.5% | +80.5% | +73.2% | +50.0% | -16.9% | -33.5% | +68.9% | |
| ROA | -12.4% | -27.4% | -2.1% | -7.5% | -4.9% | -5.1% | -2.5% | -2.5% | -3.1% | -6.2% | -5.7% | -8.3% | -8.0% |
| — | -433.3% | +13.6% | -203.4% | -60.4% | +17.8% | +56.3% | +70.0% | +61.6% | +42.2% | -23.2% | -22.4% | +75.3% | |
| ROIC | -10.6% | -1.8% | -1.7% | -6.4% | -7.0% | -2.8% | -1.2% | -0.5% | -1.1% | -2.7% | -1.7% | -2.7% | -4.0% |
| — | +34.8% | -43.4% | -1225.5% | -522.7% | -4.1% | +28.3% | +82.3% | +72.3% | +31.7% | +31.0% | +12.5% | +86.2% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
TeraWulf Inc.'s Debt/EBITDA ratio is 362.1x, up from 126.9x last quarter — elevated, raising questions about debt serviceability.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.01 | 4.39 | 2.87 | 2.89 | 2.01 | 0.00 | 0.19 | 0.37 | 0.56 | 0.82 | 0.89 | 0.78 | 1.10 |
| — | +179210.5% | +1414.7% | +683.5% | +259.2% | -99.7% | -78.7% | -52.9% | -49.1% | -22.8% | +1.9% | -7.1% | +41.5% | |
| Debt / EBITDA | — | 362.12 | 126.93 | — | — | 4.96 | 9.62 | 7.70 | 32.33 | — | 144.18 | — | — |
| — | +7205.9% | +1220.0% | — | — | — | -93.3% | — | — | — | — | — | — | |
| Current Ratio | 5.43 | 1.03 | 0.66 | 1.90 | 5.43 | 1.00 | 1.20 | 0.45 | 0.40 | 0.12 | 0.18 | 0.40 | 0.11 |
| — | +3.3% | -45.4% | +327.4% | +1241.4% | +735.7% | +583.0% | +12.4% | +260.5% | -21.6% | -20.5% | -19.2% | -92.4% | |
| Quick Ratio | 5.43 | 1.03 | 0.66 | 1.90 | 5.43 | 1.00 | 1.20 | 0.45 | 0.40 | 0.12 | 0.18 | 0.40 | 0.11 |
| — | +3.3% | -45.4% | +327.4% | +1241.4% | +735.7% | +583.0% | +12.4% | +260.5% | -21.6% | -20.5% | -19.2% | -92.4% | |
| Interest Coverage | -3.85 | -2.51 | -3.89 | -14.73 | -17.06 | -38.41 | -1.27 | -0.21 | -0.50 | -0.95 | -0.69 | -1.35 | -1.68 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 40 years · Updated daily
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Start ComparisonTeraWulf Inc.'s current P/E is -77.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
TeraWulf Inc.'s current operating margin is -54.4%. 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 TeraWulf Inc.'s business trajectory between earnings reports.