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TERAWULF INC.

WULF

$17.09 ▼ -0.52 (-2.95%) at close

16 Visible periods

34 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Poor

Bearish

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Analytical Summary

TERAWULF INC. faces fundamental challenges with weakness in Operating Margin (%). The fundamentals warrant careful consideration of downside risks.

Market Cap $6.8B

Dividend Yield —

Revenue Growth 20.3% ↘

Op. Margin -110.5% ↘

ROIC -5.7% ↗

FCF / Share $-2.98 ↘

Trailing P/E —

Price / Book 51.1x

FCF Yield —

Debt / Equity 22.06

info Valuation on last close. End-of-day price, Aug 7, 2026.

16-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$168.46M

↑ +20.3% —

Net Income Profit after all expenses

$-661.42M

↓ -813.3% —

Operating Margin Operating profit as % of sales

-110.5%

↓ -103.1% 2th

FCF / Share Free cash flow per share

$-2.98

↓ -257.6% —

Long-Term Debt Long-term obligations

$3.10B

— —

trending_up

Bullish Indicators

No bullish signals detected.

warning

Bearish Risks

Debt to EquityDebt to Equity is concerning (bottom quartile)
Operating Margin (%)Operating Margin (%) is in the bottom quartile
Profit Margin (%)Profit Margin (%) is in the bottom quartile

Health Breakdown

Profitability ↓

Financial Health ↑

Cash Quality ↑

Dividend History

Dividend / share · sourced from SEC filings

$0.00 Latest / share

FY 2014

FY 2015

FY 2016

FY 2017

FY 2018

FY 2019

FY 2020

FY 2021

$0.00

FY 2022

$0.00

FY 2023

$0.00

FY 2024

$0.00

FY 2025

Financial view

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📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2020 10-K ↗	FY 2020 Dec 31, 2019 10-K ↗	FY 2019 Dec 31, 2018 10-K ↗	FY 2018 Dec 31, 2017 10-K ↗	FY 2017 Dec 31, 2016 10-K ↗	FY 2016 Dec 31, 2015 10-K ↗	FY 2015 Dec 31, 2014 10-K ↗	FY 2014 Dec 31, 2013 10-K ↗	FY 2013 Dec 31, 2012 10-K ↗	FY 2012 Dec 31, 2011 10-K ↗	FY 2011 Dec 31, 2010 10-K ↗	FY 2010 Dec 31, 2009 10-K ↗
Revenue Growth YoY (%)	20.3% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+238%)	102.3% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+1605%)	360.5% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+5909%)	11.9% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+99%)	-23.8% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-496%)	-3.3% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-154%)	5.6% Fair ↑ Fair Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-6%)	-1.9% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-131%)	0.0% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-99%)	-5.0% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-184%)	5.7% Fair ↑ Fair Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: At sector avg	1.0% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-83%)	3.2% Caution Caution Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-47%)	1.6% Caution Caution Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-73%)	—	—
EPS Growth YoY (%)	-690.5% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	40.0% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	57.3% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-272.7% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	46.3% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	N/M	N/M	-266.7% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	N/M	-78.1% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-5.9% Weak ↑ Weak Improving Year-over-year change in earnings per share Optimal: > 10%	-2.9% Weak ↑ Weak Improving Year-over-year change in earnings per share Optimal: > 10%	0.0% Caution Caution Year-over-year change in earnings per share Optimal: > 10%	-37.5% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	—	—
Net Income Growth YoY (%)	-813.3% Weak ↑ Weak Improving Year-over-year change in net income	1.4% Caution ↑ Caution Improving Year-over-year change in net income	19.1% Good ↑ Good Improving Year-over-year change in net income	-20566.3% Weak Weak Year-over-year change in net income	46.0% Excellent Excellent Year-over-year change in net income	N/M	N/M	-247.6% Weak ↓ Weak Declining Year-over-year change in net income	N/M	-79.2% Weak ↓ Weak Declining Year-over-year change in net income	-4.9% Weak ↑ Weak Improving Year-over-year change in net income	-1.7% Weak ↑ Weak Improving Year-over-year change in net income	-0.6% Weak Weak Year-over-year change in net income	-37.3% Weak Weak Year-over-year change in net income	—	—
FCF Growth YoY (%)	-257.6% Weak ↓ Weak Declining Year-over-year change in free cash flow	-146.4% Weak ↓ Weak Declining Year-over-year change in free cash flow	60.7% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-209.8% Weak Weak Year-over-year change in free cash flow	42.4% Excellent Excellent Year-over-year change in free cash flow	N/M	N/M	97.8% Excellent Excellent Year-over-year change in free cash flow	—	—	—	—	—	—	—	—
Revenue CAGR 3Y (%)	123.8% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	118.5% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	57.8% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	-6.2% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-8.0% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	0.1% Weak ↑ Weak Improving Compound annual revenue growth over 3 years	1.2% Weak ↑ Weak Improving Compound annual revenue growth over 3 years	-2.3% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	0.1% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	0.5% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	3.3% Caution Caution Compound annual revenue growth over 3 years	1.9% Weak Weak Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	57.1% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	50.4% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	32.0% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	-3.1% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	-5.2% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	-1.0% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	0.8% Weak ↑ Weak Improving Compound annual revenue growth over 5 years	-0.1% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	0.9% Weak Weak Compound annual revenue growth over 5 years	1.2% Caution Caution Compound annual revenue growth over 5 years	—	—	—	—	—	—
EPS CAGR 3Y (%)	—	—	—	—	—	—	0.0% Caution Caution Compound annual EPS growth over 3 years	—	—	-41.5% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	-2.9% Weak Weak Compound annual EPS growth over 3 years	-15.3% Weak Weak Compound annual EPS growth over 3 years	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2020 10-K ↗	FY 2020 Dec 31, 2019 10-K ↗	FY 2019 Dec 31, 2018 10-K ↗	FY 2018 Dec 31, 2017 10-K ↗	FY 2017 Dec 31, 2016 10-K ↗	FY 2016 Dec 31, 2015 10-K ↗	FY 2015 Dec 31, 2014 10-K ↗	FY 2014 Dec 31, 2013 10-K ↗	FY 2013 Dec 31, 2012 10-K ↗	FY 2012 Dec 31, 2011 10-K ↗	FY 2011 Dec 31, 2010 10-K ↗	FY 2010 Dec 31, 2009 10-K ↗
Operating Margin (%) (%)	-110.5% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-542%)	-54.4% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-318%)	-42.5% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-270%)	-291.0% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1264%)	-13.3% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-153%)	-5.4% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-122%)	1.2% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-95%)	-2.7% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-111%)	-0.1% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-101%)	1.3% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-95%)	4.9% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-80%)	5.3% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-79%)	6.0% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-76%)	6.1% Caution Caution Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-76%)	9.3% Caution Caution Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-63%)	—
Effective Tax Rate (%) (%)	-0.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.3% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	32.3% Weak → Weak Stable Actual taxes paid relative to pre-tax income Optimal: 15-25%	17.5% Good ↓ Good Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	24.8% Fair ↓ Fair Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	56.9% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	5.8% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	40.0% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	29.4% Caution ↓ Caution Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	26.4% Caution ↓ Caution Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	33.6% Weak Weak Actual taxes paid relative to pre-tax income Optimal: 15-25%	33.1% Weak Weak Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—
Profit Margin (%) (%)	-392.6% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1885%)	-51.7% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-335%)	-106.1% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-582%)	—	-3.3% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-115%)	-4.6% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-121%)	0.8% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-97%)	-1.3% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-106%)	-0.4% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-102%)	0.8% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-97%)	3.5% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-84%)	3.9% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-82%)	4.0% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-82%)	4.2% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-81%)	6.7% Caution Caution Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-69%)	—
FCF Margin (%) (%)	—	-208.8% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-102.4% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	—	-4.1% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-5.4% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	3.7% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-0.1% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	-6.5% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—	—	—	—	—	8.5% Caution Caution Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	1.79x Excellent ↓ Excellent Declining Free cash flow relative to reported net income Optimal: > 1x	4.04x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	0.97x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	1.05x Fair ↓ Fair Declining Free cash flow relative to reported net income Optimal: > 1x	1.25x Good ↓ Good Declining Free cash flow relative to reported net income Optimal: > 1x	1.17x Fair ↓ Fair Declining Free cash flow relative to reported net income Optimal: > 1x	4.89x Excellent ↓ Excellent Declining Free cash flow relative to reported net income Optimal: > 1x	0.11x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	17.64x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	—	—	—	—	—	1.27x Good Good Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2020 10-K ↗	FY 2020 Dec 31, 2019 10-K ↗	FY 2019 Dec 31, 2018 10-K ↗	FY 2018 Dec 31, 2017 10-K ↗	FY 2017 Dec 31, 2016 10-K ↗	FY 2016 Dec 31, 2015 10-K ↗	FY 2015 Dec 31, 2014 10-K ↗	FY 2014 Dec 31, 2013 10-K ↗	FY 2013 Dec 31, 2012 10-K ↗	FY 2012 Dec 31, 2011 10-K ↗	FY 2011 Dec 31, 2010 10-K ↗	FY 2010 Dec 31, 2009 10-K ↗
Return on Invested Capital (%)	-5.7% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-31.2% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-8.5% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-17.6% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-10.2% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-5.2% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	1.1% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-1.3% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-0.1% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	1.0% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	4.8% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	5.4% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	5.8% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	5.3% Caution Caution Return earned on debt + equity capital invested Optimal: > 10%	9.9% Fair Fair Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	-2.8% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-9.7% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-7.8% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-13.8% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-11.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-5.7% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	1.3% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-2.7% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-0.1% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	1.5% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	6.2% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	6.6% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	7.8% Fair ↓ Fair Declining Operating profit relative to total assets Optimal: > 10%	7.2% Fair Fair Operating profit relative to total assets Optimal: > 10%	11.7% Good Good Operating profit relative to total assets Optimal: > 10%	—
Return on Common Equity (%) (%)	—	-29.6% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-347%)	-33.0% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-375%)	-73.7% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-714%)	-3.7% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-131%)	-6.6% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-155%)	1.1% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-91%)	-1.7% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-115%)	-0.5% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-104%)	1.0% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-92%)	4.9% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-59%)	5.4% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-55%)	5.9% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-51%)	5.4% Caution Caution Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-55%)	9.1% Caution Caution Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-24%)	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2020 10-K ↗	FY 2020 Dec 31, 2019 10-K ↗	FY 2019 Dec 31, 2018 10-K ↗	FY 2018 Dec 31, 2017 10-K ↗	FY 2017 Dec 31, 2016 10-K ↗	FY 2016 Dec 31, 2015 10-K ↗	FY 2015 Dec 31, 2014 10-K ↗	FY 2014 Dec 31, 2013 10-K ↗	FY 2013 Dec 31, 2012 10-K ↗	FY 2012 Dec 31, 2011 10-K ↗	FY 2011 Dec 31, 2010 10-K ↗	FY 2010 Dec 31, 2009 10-K ↗
Debt to Equity (x)	22.06x Weak ↑ Weak Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+1739%)	0.00x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-100%)	0.56x Good ↓ Good Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-54%)	1.01x Caution ↑ Caution Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-15%)	—	0.24x Excellent → Excellent Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-80%)	0.23x Excellent → Excellent Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-81%)	0.23x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-81%)	0.23x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-81%)	—	—	—	—	—	—	—
Interest Coverage (x)	-13.30x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-10.96x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-0.85x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-1.77x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-20.63x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-10.62x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	2.49x Caution ↑ Caution Improving Operating income divided by interest expense Optimal: > 5x	-5.59x Weak Weak Operating income divided by interest expense Optimal: > 5x	-0.38x Weak Weak Operating income divided by interest expense Optimal: > 5x	—	—	—	—	—	—	—
Net Debt (USD)	$-167.83M	$-274.06M	$69.08M	$123.63M	$-3.69M	$1.95M	$1.43M	$2.02M	$2.03M	$-2.25M	$-1.94M	$-1.70M	$-967.94K	$-1.87M	$-1.29M	$-1.30M
Debt / EBITDA (x)	-31.74x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.00x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-115.33x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-3.37x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	-9.21x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.11x Caution ↓ Caution Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	7.92x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.17x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—	—	—	—

📊 What does each share earn? 8 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2020 10-K ↗	FY 2020 Dec 31, 2019 10-K ↗	FY 2019 Dec 31, 2018 10-K ↗	FY 2018 Dec 31, 2017 10-K ↗	FY 2017 Dec 31, 2016 10-K ↗	FY 2016 Dec 31, 2015 10-K ↗	FY 2015 Dec 31, 2014 10-K ↗	FY 2014 Dec 31, 2013 10-K ↗	FY 2013 Dec 31, 2012 10-K ↗	FY 2012 Dec 31, 2011 10-K ↗	FY 2011 Dec 31, 2010 10-K ↗	FY 2010 Dec 31, 2009 10-K ↗
Revenue per Share (USD)	$0.42	$0.40	$0.33	$0.14	$6.80	$8.90	$9.18	$8.59	$8.70	$8.70	$9.17	$8.72	$8.71	$8.47	$8.38	—
Basic EPS, GAAP (USD)	$-1.66	$-0.21	$-0.35	$-0.82	$-0.22	$-0.41	$0.07	$-0.11	$-0.03	$0.07	$0.32	$0.34	$0.35	$0.35	$0.56	—
Free Cash Flow per Share (USD)	$-2.98	$-0.83	$-0.34	$-0.86	$-0.28	$-0.48	$0.34	$-0.01	$-0.57	—	—	—	—	—	$0.72	—
Dividend per Share (USD)	$0.00	$0.00	$0.00	$0.00	—	—	—	—	—	—	—	—	—	—	—	—
Book Value per Share (USD)	$0.33	$0.63	$0.80	$0.85	$5.99	$6.20	$6.61	$6.53	$6.67	$6.69	$6.61	$6.26	$5.90	$6.55	$6.18	—
Tangible Book Value per Share (USD)	$0.20	$0.63	$0.80	$0.85	$5.99	$6.20	$6.61	$6.53	$6.67	$6.69	$6.61	$6.26	$5.90	$6.55	$6.18	—
Basic Weighted Avg Shares (shares)	397.61M	351.32M	209.96M	110.64M	1.98M	1.98M	1.98M	2.01M	2.02M	2.02M	2.02M	2.01M	1.99M	1.98M	1.97M	—
Dividend Payout Ratio (%)	0.0% Excellent → Excellent Stable Dividends paid as a percentage of earnings Optimal: 30-60%	0.0% Excellent → Excellent Stable Dividends paid as a percentage of earnings Optimal: 30-60%	0.0% Excellent Excellent Dividends paid as a percentage of earnings Optimal: 30-60%	0.0% Excellent Excellent Dividends paid as a percentage of earnings Optimal: 30-60%	—	—	—	—	—	—	—	—	—	—	—	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2020 10-K ↗	FY 2020 Dec 31, 2019 10-K ↗	FY 2019 Dec 31, 2018 10-K ↗	FY 2018 Dec 31, 2017 10-K ↗	FY 2017 Dec 31, 2016 10-K ↗	FY 2016 Dec 31, 2015 10-K ↗	FY 2015 Dec 31, 2014 10-K ↗	FY 2014 Dec 31, 2013 10-K ↗	FY 2013 Dec 31, 2012 10-K ↗	FY 2012 Dec 31, 2011 10-K ↗	FY 2011 Dec 31, 2010 10-K ↗	FY 2010 Dec 31, 2009 10-K ↗
Working Capital (USD)	$1.74B	$229.59M	$-92.08M	$-111.88M	$4.21M	$6.76M	$7.65M	$7.40M	$7.73M	$5.59M	$8.11M	$7.17M	$6.39M	$7.57M	$7.03M	—
LT Debt (USD)	$3.10B	$0.00	$123.52M	$124.91M	—	$2.92M	$3.06M	$2.95M	$3.08M	—	—	—	—	—	—	—
Total Equity (USD)	$140.44M	$244.44M	$222.49M	$123.18M	$11.84M	$12.26M	$13.11M	$12.96M	$13.46M	$13.50M	$13.34M	$12.60M	$11.79M	$12.99M	$12.19M	$11.03M

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2020 10-K ↗	FY 2020 Dec 31, 2019 10-K ↗	FY 2019 Dec 31, 2018 10-K ↗	FY 2018 Dec 31, 2017 10-K ↗	FY 2017 Dec 31, 2016 10-K ↗	FY 2016 Dec 31, 2015 10-K ↗	FY 2015 Dec 31, 2014 10-K ↗	FY 2014 Dec 31, 2013 10-K ↗	FY 2013 Dec 31, 2012 10-K ↗	FY 2012 Dec 31, 2011 10-K ↗	FY 2011 Dec 31, 2010 10-K ↗	FY 2010 Dec 31, 2009 10-K ↗
Sales/Revenue/Turnover (USD)	$168.46M	$140.05M	$69.23M	$15.03M	$13.43M	$17.62M	$18.21M	$17.24M	$17.57M	$17.56M	$18.49M	$17.49M	$17.31M	$16.78M	$16.52M	—
Depreciation Expense (USD)	$88.60M	$59.81M	$28.35M	$6.67M	$661.57K	$640.00K	$758.83K	$836.88K	$760.77K	$659.53K	$635.61K	$568.79K	$489.21K	$415.82K	$402.03K	—
Net Income, GAAP (USD)	$-661.42M	$-72.42M	$-73.42M	$-90.79M	$-439.32K	$-813.56K	$139.47K	$-226.15K	$-65.06K	$135.01K	$648.77K	$682.17K	$693.93K	$698.26K	$1.11M	—
Operating Cash Flow (USD)	$-123.18M	$-24.42M	$4.26M	$-34.07M	$-398.83K	$-477.03K	$1.22M	$204.69K	$916.95K	—	—	—	—	—	$1.60M	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 1 week ago 16 years · 62 quarters

TERAWULF INC.

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16-Year Financial Trajectory

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