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Friday 6 November 2026
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Bitdeer Technologies Group
BTDR Technology Software Application
Bitdeer Technologies Group’s revenue for fiscal 2025 (year ended December 2025) was $620.3 million, up 77.3% from fiscal 2024.
- Revenue
- +47.1%
- EPS
- −14.0%
- Free cash flow
- +5.54%
- Total debt
- +245.5%
Quarter to June 2026, against a year earlier
5.46
1.07
−16.39%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | 333 | 369 | 350 | 620 | 812 | +23.0% | 951 | 1,623 | 2,789 | +65.1% | |
| Gross margin, % | — | — | — | — | — | — | 24.97 | 21.11 | 18.98 | 9.83 | 0.67 | (15.1) pt | ||||||
| EBT | — | — | — | — | — | (1) | (65) | (51) | (602) | 71 | (233) | n/m | ||||||
| EBT margin, % | — | — | — | — | — | 0.00 | (19.43) | (13.83) | (171.99) | 11.42 | (28.70) | +11.4 pt | ||||||
| Net income | — | 0 | — | — | — | (1) | (60) | (57) | (599) | 66 | 66 | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | 0.00 | 3.07 | 3.34 | 2.55 | 3.03 | 3.30 | n/m | |||||
| Earnings | — | — | — | — | — | (0.76) | (0.52) | (0.51) | (4.36) | 0.32 | (0.96) | n/m | ||||||
| Cash flow | — | — | — | — | — | (0.25) | (2.47) | (2.46) | (4.53) | (8.49) | (6.59) | +142.5% | ||||||
| Capex | — | — | — | — | — | 0.00 | (0.82) | (1.14) | (0.92) | (1.31) | (1.90) | n/m | ||||||
| Free cash flow | — | — | — | — | — | (0.25) | (3.28) | (3.60) | (5.45) | (9.80) | (8.49) | +151.3% | ||||||
| Book value | — | — | — | — | — | (1.57) | 2.93 | 3.01 | 2.01 | 4.24 | 4.48 | n/m | ||||||
| Shares, m | — | — | — | — | — | 2 | 109 | 110 | 137 | 205 | 223 | +235.2% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 35.16 | 0.00 | 8.8 | |||||
| P/S | — | — | — | — | — | — | 3.42 | 2.66 | 8.51 | 3.70 | 1.66 | 4.6 | ||||||
| P/B | — | — | — | — | — | — | 3.58 | 2.95 | 10.77 | 2.71 | 1.22 | 5.0 | ||||||
| EV/Sales | — | — | — | — | — | — | 3.01 | 2.32 | 7.55 | 5.82 | 3.31 | 4.7 | ||||||
| EV/FCF | — | — | — | — | — | — | (3.74) | (1.13) | (3.53) | (1.80) | (1.29) | (2.5) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | 0 | (268) | (272) | (622) | (1,739) | (1,622) | +712.7% | |||||
| Capex | — | — | — | — | — | — | (89) | (126) | (127) | (268) | (469) | +44.4% | ||||||
| Free cash flow | — | — | — | — | — | 0 | (357) | (398) | (749) | (2,006) | (2,091) | +742.3% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | (1) | (21) | 139 | (151) | (134) | 5 | +298.0% | |||||
| Net debt | — | — | — | — | — | 0 | (138) | (125) | (359) | 741 | 1,348 | n/m | ||||||
| Shareholders’ equity | — | — | — | — | — | (3) | 318 | 333 | 277 | 868 | 1,103 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | (4.23) | (17.00) | (8.78) | (54.54) | 3.01 | (8.33) | +7.2 pt | |||||
| ROIC | — | — | — | — | — | 0.00 | (21.03) | (15.76) | 0.00 | 6.20 | 0.75 | +6.2 pt | ||||||
| ROE | — | — | — | — | — | 0.00 | (38.23) | (17.41) | (196.71) | 11.46 | (25.26) | +11.5 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | 2 | 211 | 246 | 471 | — | +517.5% | |||||
| Revenue/emp, $m | — | — | — | — | — | — | 166.67 | 1.75 | 1.42 | 1.32 | — | (80.1%) | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 25 Oct 2026
Bitdeer Technologies Group vs peers in Software Application (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| DBD Diebold Nixdorf, Incorporated | $2.0B | 26.6× | — | +5.19% (above 0%: growing) | −81.35% (below 0%: shrinking) | −346.12% (below 0%: shrinking) | 24.86% | 3.90% | Compare |
| BL BlackLine | $2.0B | 57.0× | 35.5× | +9.18% (above 0%: growing) | +115.38% (above 0%: growing) | +43.65% (above 0%: growing) | 75.96% | 5.85% | Compare |
| SOUN SoundHound AI, Inc. | $1.9B | — (loss-making) | — (loss-making) | +45.02% (above 0%: growing) | n/m | −49.37% (below 0%: shrinking) | 45.12% | (69.95%) | Compare |
| WLTH Wealthfront Corporation | $1.7B | — (loss-making) | 28.3× | +0.82% (above 0%: growing) | −86.01% (below 0%: shrinking) | +22.17% (above 0%: growing) | 88.28% | 18.27% | Compare |
| DFIN Donnelley Financial Solutions | $1.6B | 17.4× | 16.8× | +5.53% (above 0%: growing) | n/m | +44.93% (above 0%: growing) | 64.76% | 17.62% | Compare |
| ADEA Adeia Inc. | $1.6B | 13.8× | 31.7× | −8.18% (below 0%: shrinking) | −74.37% (below 0%: shrinking) | −75.31% (below 0%: shrinking) | 100.00% | 11.28% | Compare |
| CXM Sprinklr, Inc. | $1.6B | 68.2× | 57.4× | +0.80% (above 0%: growing) | −40.00% (below 0%: shrinking) | −55.52% (below 0%: shrinking) | 65.12% | 4.66% | Compare |
| PDFS PDF Solutions, Inc. | $1.5B | 90.8× | 88.2× | +19.64% (above 0%: growing) | +433.33% (above 0%: growing) | +552.90% (above 0%: growing) | 72.79% | 12.13% | Compare |
| BTDR Bitdeer Technologies Group | $1.4B | — (loss-making) | — (loss-making) | +47.05% (above 0%: growing) | n/m | +5.54% (above 0%: growing) | (3.73%) | (44.47%) | |
| Median of peers | $1.7B | 41.8× | 33.6× | +5.36% | −57.18% | −13.60% | 68.96% | 8.57% |