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Friday 6 November 2026
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Core Scientific, Inc.
CORZ Technology Software Infrastructure
Core Scientific, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $319.0 million, down 37.5% from fiscal 2024.
- Revenue
- +108.8%
- EPS
- −12.7%
- Free cash flow
- −852.1%
- Total debt
- +306.4%
Quarter to June 2026, against a year earlier
11.51
1.25
−9.80%
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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 | — | — | — | — | 60 | 544 | 640 | 502 | 511 | 319 | 440 | +39.5% | 676 | 1,148 | 1,725 | +75.5% | |
| Gross margin, % | — | — | — | — | 15.57 | 43.87 | 1.31 | 24.57 | 23.71 | 11.88 | 28.35 | (3.7) pt | ||||||
| EBT | — | — | — | — | (12) | 63 | (2,163) | (246) | (1,437) | (288) | (1,428) | +88.2% | ||||||
| EBT margin, % | — | — | — | — | (20.24) | 11.58 | (337.87) | (48.93) | (281.40) | (90.29) | (324.28) | (70.0) pt | ||||||
| Net income | — | — | — | — | (12) | 47 | (2,146) | (246) | (1,438) | (289) | (1,431) | +88.3% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | 0.38 | 2.63 | 1.88 | 1.32 | 2.00 | 1.00 | 1.35 | +21.3% | |||||
| Earnings | — | — | — | — | (0.14) | 0.23 | (6.30) | (0.65) | (4.87) | (0.88) | (4.24) | +44.4% | ||||||
| Cash flow | — | — | — | — | (0.15) | (0.27) | 0.60 | 0.17 | 0.17 | 0.87 | 1.60 | n/m | ||||||
| Capex | — | — | — | — | (0.01) | (0.28) | (1.73) | (0.04) | (0.37) | (2.31) | (5.27) | +197.7% | ||||||
| Free cash flow | — | — | — | — | (0.16) | (0.56) | (1.13) | 0.13 | (0.20) | (1.44) | (3.67) | +55.0% | ||||||
| Book value | — | — | — | — | 0.00 | 6.47 | (1.20) | (1.57) | (3.69) | (3.03) | (7.44) | n/m | ||||||
| Shares, m | — | — | — | — | 158 | 207 | 341 | 380 | 256 | 318 | 322 | +15.1% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | — | — | — | — | 2.60 | 2.60 | 2.60 | 2.60 | 8.42 | 14.59 | 8.50 | 5.6 | ||||||
| P/B | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | ||||||
| EV/Sales | — | — | — | — | 3.90 | 3.90 | 3.90 | 3.90 | 8.89 | 16.93 | 13.87 | 6.9 | ||||||
| EV/FCF | — | — | — | — | 40.67 | 40.67 | 40.67 | 40.67 | (86.78) | (11.81) | (5.11) | 10.7 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | (24) | (57) | 205 | 65 | 43 | 278 | 520 | n/m | |||||
| Capex | — | — | — | — | (2) | (59) | (591) | (17) | (95) | (736) | (1,715) | +242.2% | ||||||
| Free cash flow | — | — | — | — | (25) | (115) | (386) | 48 | (52) | (457) | (1,195) | +78.4% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | 436 | (102) | (391) | 769 | 114 | (294) | (28.5%) | |||||
| Net debt | — | — | — | — | — | 583 | (52) | 650 | 237 | 749 | 2,362 | +6.5% | ||||||
| Shareholders’ equity | — | — | — | — | — | 1,341 | (409) | (597) | (943) | (963) | (2,419) | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | 0.00 | 3.88 | (132.22) | (32.44) | (113.82) | (15.10) | (38.84) | (15.1) pt | |||||
| ROIC | — | — | — | — | 0.00 | 4.27 | 0.00 | 10.53 | 0.00 | 0.00 | 0.00 | 0.0 pt | ||||||
| ROE | — | — | — | — | 0.00 | 0.00 | (460.65) | 48.99 | 161.73 | 30.29 | 79.25 | +30.3 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | 235 | 286 | 325 | 325 | — | +11.4% | |||||
| Revenue/emp, $m | — | — | — | — | 0.00 | 0.00 | 2.72 | 1.76 | 1.57 | 0.98 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026
Core Scientific, Inc. vs peers in Software Infrastructure (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 |
|---|---|---|---|---|---|---|---|---|---|
| DOX Amdocs Limited | $4.7B | 10.4× | 11.4× | +2.66% (above 0%: growing) | −57.55% (below 0%: shrinking) | −18.84% (below 0%: shrinking) | 39.76% | 8.90% | Compare |
| APPN Appian Corporation | $3.9B | — (loss-making) | 1,228× | +25.47% (above 0%: growing) | +54.55% (above 0%: growing) | −210.79% (below 0%: shrinking) | 0.00% | 9.08% | Compare |
| DLO DLocal Limited | $3.8B | 19.2× | 15.9× | +55.84% (above 0%: growing) | +26.67% (above 0%: growing) | +12.57% (above 0%: growing) | 31.81% | 16.05% | Compare |
| PAY Paymentus Holdings, Inc. | $3.7B | 44.7× | 45.6× | +19.77% (above 0%: growing) | +55.71% (above 0%: growing) | +32.10% (above 0%: growing) | 25.21% | 9.01% | Compare |
| CORZ Core Scientific, Inc. | $3.7B | — (loss-making) | — (loss-making) | +108.83% (above 0%: growing) | n/m | −852.12% (below 0%: shrinking) | 42.66% | (47.79%) | |
| AVPT AvePoint, Inc. | $3.5B | 45.6× | 57.7× | +19.48% (above 0%: growing) | +50.00% (above 0%: growing) | −13.62% (below 0%: shrinking) | 72.20% | 8.73% | Compare |
| FOUR Shift4 Payments, Inc. | $3.4B | 67.6× | 28.3× | +34.06% (above 0%: growing) | −77.14% (below 0%: shrinking) | −109.09% (below 0%: shrinking) | 34.44% | 7.34% | Compare |
| WIX Wix.com Ltd. | $3.2B | — (loss-making) | — (loss-making) | +14.93% (above 0%: growing) | n/m | −64.35% (below 0%: shrinking) | 65.77% | (10.44%) | Compare |
| BLSH Bullish | $3.1B | — (loss-making) | — (loss-making) | −44.34% (below 0%: shrinking) | n/m | +2.25% (above 0%: growing) | 0.25% | (0.87%) | Compare |
| Median of peers | $3.6B | 44.7× | 37.0× | +19.62% | +38.33% | −16.23% | 33.13% | 8.82% |
Pay and ownership Proxy statement filed 31 March 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 22.92m | 74.80m | 423.26 |
| 2024 | 41.94m | 58.40m | 408.43 |
| 2022 | 5.81m | (106.96m) | — |
Ownership
Directors and executive officers, together
1.70%
The Vanguard Group
10.80%
Situational Awareness
9.10%
Pentwater Capital Management LP
8.30%
BlackRock, Inc.
7.40%
Two Seas Capital
5.50%
Susquehanna Securities
5.50%
Citadel Securities
5.40%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
Core Scientific, Inc. (CORZ) Latest News
5 Nov
15 Oct
14 Oct
CORZ metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score