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Friday 6 November 2026 Export GLXY’s income statement to Excel — free account

Galaxy Digital Inc.

GLXY Financial Capital Markets

Galaxy Digital Inc.’s revenue for fiscal 2025 (year ended December 2025) was $60.4 billion, up 41.8% from fiscal 2024.

Revenue
−0.99%
EPS
−190.0%
Free cash flow
+80.1%
Total debt
+189.9%

Quarter to June 2026, against a year earlier

14.16 1.18 +9.09%
Market cap
$5.0B
P/E
0.0×
Fwd P/E
205×
Dividend yield
—
F-score
n/a
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Galaxy Digital Inc. (GLXY) valuation and DCF model

What the price implies · reverse DCF

At $14.16 the price implies 49.0% a year of dividend growth, at a 9.0% cost of equity.

Return on equity averaged −3.1% over ten years; the price implies 9.0% for good.

The headline discounts the last twelve months’ the dividend a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
49.0% a year for ten years
$14.16
today’s price
Its base case
5.0% a year for five years, then 3.0%
$0.57
95.9% below today’s price

Both are growth in the dividend a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record Galaxy Digital Inc.’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · Dividends
the four quarters to June 2026, from the 10-Q and 10-K filings

Yearly growth in the dividend. It usually slows as the company matures.

Today’s price implies the dividend a share growing 49.0% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Against Galaxy Digital Inc.’s own cost of capital: risk-free 4.3% + beta 3.57 × equity premium 4.5% = 20.4% cost of equity; after-tax cost of debt 2.4%; weighted, 12.6%.

Use 12.6%
Base case value per share $0.57 ten years discounted, and what follows
Current price $14.16 market price per share
Below today’s price 95.9% downside at the base case’s assumptions

How we got there$0.26 10 years of dividends+$0.32 terminal value=$0.57 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Capital Markets).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E — 18.87× 18.87× — 14.35× —
P/B 0.93× 1.02× 1.02× 9% below 1.36× 32% below
EV/EBITDA — 63.29× 63.29× — 3.38× —
EV/Sales — 0.07× 0.07× — 3.90× —
P/E P/B EV/EBITDA EV/Sales
0.89×0.98×1.08×1.18×10Y avg 1.02×202420252026

GLXY trades at 0.93× P/B, against a 10-year average of 1.02× (range 0.93×–1.17×). That is cheaper than 100% of the last 2 year-end readings; re-rating to the average implies $15.55 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.