Cleanspark, Inc.

CLSK Financial Capital Markets

Cleanspark, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $766.3 million, up 102.2% from fiscal 2024. In the quarter to June 2026, revenue fell 30.5%, EPS fell 198.9% and free cash flow grew 202.4%, each against the same quarter a year earlier. Revenue growth for ten consecutive years.

8.40 0.95 −10.16%
Market cap
$2.4B
P/E
0.0×
Fwd P/E
−4.7×
Dividend yield
—
F-score
4/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a

Insider Decisions trades per month

Total sells 1.93
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — 2 — — — — — — — 1 1 1
Insider Ownership 8.63%

Capital & Financial Ratios $m

Market Cap 2,400.00
Revenue 679.25
Net Income (997.82)
Free Cash Flow (124.10)
Net Debt 1,576.03
Current Ratio 5.91
Debt/Equity 2.34
P/E ratio 0.00
Fwd P/E (4.74) (negative: loss-making)
P/S ratio 3.32
P/B ratio 2.96
Past 5Y EPS Growth —
This Y EPS Growth (438.04%) (below 0%: weak)
Next Y EPS Growth 55.00% (at or above 15%: strong)
Next Y revenue growth (22.41%) (below 0%: weak)
Next 5Y EPS Growth 59.67% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/S against its own 10 years 25.62%
10-year low 10-year high
P/B against its own 10 years 74.95%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2023 Powerpack
2022 Powerpack
2021 0.00
0.12
2020 Powerpack
2019 Powerpack
2018 Powerpack
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 30 125 46 206
Receivables 10 78 295 101
Inventory — — — 592
Other 59 433 967 592
102 705 1,320 921
2023 2024 2025 Q'26
Payables 40 83 15 11
ST’ Debt 7 59 177 2
Other 1 2 6 11
74 188 316 156

Compound Annual Growth %

10y 5y 3y
Sales — 138.03% 79.94%
Cash Flow — 0.00% 0.00%
Earnings — 0.00% 0.00%
Book Value — 165.70% 75.27%

Revenue $m

Dec Mar Jun Sep Year
’26 181 136 138 — —
’25 162 182 199 224 766
’24 74 112 104 89 379
’23 28 43 46 53 168
’22 37 37 31 26 132
’21 2 8 9 20 39
’20 1 4 3 2 10
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Dec Mar Jun Sep Year
’26 (161) (136) (112) — —
’25 (119) (112) (110) (119) (461)
’24 (48) (45) (58) (83) (234)
’23 5 7 6 (35) (17)
’22 13 34 6 21 73
’21 (7) (5) (9) (3) (24)
’20 (1) 0 (2) (3) (7)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Dec Mar Jun Sep Year
’26 (64) (139) 156 — —
’25 (369) (167) (152) (77) (764)
’24 (124) (220) (246) (406) (995)
’23 (31) (48) (111) (128) (318)
’22 (10) 28 2 (134) (114)
’21 (10) (57) (22) (82) (163)
’20 (1) 0 (2) (3) (7)
Fiscal quarters ending in the months shown.

EPS $

Dec Mar Jun Sep Year
’26 (1.35) (1.52) (0.89) — —
’25 0.83 (0.49) 0.78 (0.01) 1.12
’24 0.14 0.58 (1.03) (0.27) (0.69)
’23 (0.44) (0.23) (0.12) (0.55) (1.33)
’22 0.35 0.00 (0.71) (0.99) (1.35)
’21 (0.32) 0.22 (0.49) (0.15) (0.75)
’20 (0.40) (1.13) (0.77) (0.14) (2.44)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 20.00 17.00 9.00 3.00 0.97 9.52 1.74 1.96 6.41 6.45

Analyst estimates 2026–2028

Powerpack
High 45.00 50.00 150.10 79.50 30.75 42.60 13.91 13.56 24.72 23.61
People
People Employees — — 7 20 62 87 130 131 270 314
Revenue/emp, $m 0.00 0.00 0.08 0.23 0.16 0.45 1.01 1.29 1.40 2.44
Income, $m
Income, $m Revenue 0 0 1 5 10 39 132 168 379 766
Gross margin, % (643.54) 33.86 32.47 14.82 21.15 86.60 68.65 44.43 56.32 55.23
EBT (3) (13) (47) (26) (23) (8) (40) (131) (142) 404
EBT margin, % (3,098.29) (3,013.06) (8,124.13) (576.18) (232.79) (20.95) (30.48) (77.97) (37.58) 52.66
Net income (3) (13) (47) (26) (23) (22) (57) (138) (146) 364
Depreciation 1 3 3 11 12 9 49 121 155 348
Per share, $
Per share, $ Revenue 0.04 0.14 0.17 1.09 1.05 1.33 3.09 1.64 1.75 2.72
Earnings (1.10) (4.19) (13.62) (5.65) (2.44) (0.75) (1.35) (1.33) (0.69) 1.25
Cash flow (0.19) (0.42) (0.37) (1.36) (0.70) (0.81) 1.72 (0.17) (1.08) (1.63)
Capex 0.00 (0.04) (0.12) (0.16) (0.01) (4.73) (4.39) (2.93) (3.51) (1.07)
Free cash flow (0.19) (0.46) (0.49) (1.53) (0.71) (5.54) (2.67) (3.10) (4.59) (2.71)
Book value 14.50 6.32 4.65 4.52 1.72 10.38 9.48 6.58 8.12 7.71
Shares, m 2 3 3 4 10 29 43 103 217 282
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 11.60
P/S 0.00 0.00 0.00 7.83 11.90 8.69 1.03 2.35 5.34 5.34
P/B 0.00 0.00 0.00 1.88 7.26 1.12 0.34 0.59 1.15 1.88
EV/Sales 0.00 0.00 0.00 6.74 11.54 8.24 0.93 2.22 5.19 6.35
EV/FCF 0.00 0.00 0.00 (4.80) (17.12) (1.91) (1.02) (1.15) (1.96) (6.31)
Cash, $m
Cash, $m Operating cash flow 0 (1) (1) (6) (7) (24) 73 (17) (234) (461)
Capex 0 0 0 (1) 0 (139) (187) (301) (762) (303)
Free cash flow 0 (1) (2) (6) (7) (163) (114) (318) (995) (764)
Balance, $m
Balance, $m Working capital 0 0 (1) 8 3 48 17 28 518 1,004
Total debt 0 0 1 3 1 1 8 7 66 821
Net debt 0 0 1 (5) (4) (18) (13) (23) (59) 775
Shareholders’ equity 33 20 16 19 16 306 404 676 1,761 2,175
Returns, %
Returns, % ROA (9.44) (50.17) (245.15) (127.43) (102.01) (12.94) (14.95) (22.74) (10.94) 13.71
ROIC 0.00 (40.76) (26.48) (74.12) (73.30) (2.58) (6.05) (12.54) (5.47) 6.76
ROE (9.59) (50.94) (258.31) (149.50) (132.24) (13.65) (16.22) (25.57) (12.23) 17.93
Negative figures in brackets.

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026 · fundamentals updated 2 Oct 2026

Charts ten years each

Cleanspark, Inc. vs peers in Capital Markets (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
LAZ Lazard, Inc. $3.5B 16.3× 14.6× +1.47% (above 0%: growing) −94.64% (below 0%: shrinking) +434.39% (above 0%: growing) 100.00% 4.66% Compare
PJT PJT Partners Inc. $3.5B 17.9× 23.7× +19.52% (above 0%: growing) +34.65% (above 0%: growing) +26.53% (above 0%: growing) 33.04% 20.99% Compare
MARA Marathon Digital Holdings, Inc. $3.2B — (loss-making) — (loss-making) −26.67% (below 0%: shrinking) n/m +85.60% (above 0%: growing) 17.19% (297.96%) Compare
MIAX Miami International Holdings, Inc. $3.1B 26.0× 15.2× +18.26% (above 0%: growing) +26.97% (above 0%: growing) +162.65% (above 0%: growing) 36.40% 7.17% Compare
PURR Hyperliquid Strategies Inc $2.7B — (loss-making) — (loss-making) +6,940.21% (above 0%: growing) n/m −6,672.51% (below 0%: shrinking) 100.00% 7,380.58% Compare
CLSK Cleanspark, Inc. $2.4B — (loss-making) — (loss-making) −30.53% (below 0%: shrinking) n/m +202.37% (above 0%: growing) 38.06% (168.40%)
ETOR eToro Group Ltd. $2.0B 7.9× 13.7× −23.93% (below 0%: shrinking) +71.05% (above 0%: growing) −32.39% (below 0%: shrinking) 15.03% 4.80% Compare
SBET Sharplink Inc $1.8B — (loss-making) — (loss-making) +1,553.95% (above 0%: growing) n/m −339.59% (below 0%: shrinking) 97.76% (3,413.02%) Compare
TOP TOP Financial Group Limited $1.6B 155× — — n/m +141.67% (above 0%: growing) 83.91% (35.94%) Compare
Median of peers $2.9B 17.9× 14.9× +18.26% +30.81% +56.07% 60.16% 4.73%

All 93 Capital Markets stocks →

Cleanspark, Inc. (CLSK) key facts

  • Strength: Cleanspark, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $766.3 million, up 102.2% from fiscal 2024.
  • Cleanspark, Inc. (CLSK) is a Capital Markets company in the Financial sector, listed on Nasdaq.
  • As of October 16, 2026, CLSK traded at $8.40, a market capitalization of $2.4 billion.
  • Return on equity was 17.9% and debt-to-equity 2.34.
  • Its Piotroski F-score is 4 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations · fundamentals updated Oct 2, 2026.

Cleanspark, Inc. (CLSK) Latest News

stockrow.com/CLSK · Data as of Oct 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com