HIVE Digital Technologies Ltd.
HIVE Financial Capital Markets
HIVE Digital Technologies Ltd.’s revenue for fiscal 2026 (year ended March 2026) was $297.8 million, up 158.3% from fiscal 2025. In the quarter to June 2026, revenue grew 73.5%, EPS fell 370.0%, free cash flow fell 12.5% and total debt rose 951.4%, each against the same quarter a year earlier. Revenue growth for three consecutive years.
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HIVE Digital Technologies Ltd. (HIVE) Piotroski F-score
HIVE Digital Technologies Ltd.'s Piotroski F-score for fiscal 2026 is 4 out of 9: 4 of nine tests of profitability, leverage and efficiency passed, up from 3 in fiscal 2025.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2026 | 4 | 1.00 |
| FY2025 | 3 | (3.00) |
| FY2024 | 6 | 3.00 |
| FY2023 | 3 | (3.00) |
| FY2022 | 6 | 1.00 |
| FY2021 | 5 | 0.00 |
| FY2020 | 5 | — |
How fiscal 2026’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (25.36%) | (0.71%) | Fail | 0 |
| Positive operating cash flow | 62.34m | 16.63m | Pass | 1 |
| Rising return on assets | (25.36%) | (0.71%) | Fail | 0 |
| Cash flow above net income | 210.79m | 19.63m | Pass | 1 |
| Falling long-term leverage | 0.09 | 0.03 | Fail | 0 |
| Rising current ratio | 1.10 | 3.66 | Fail | 0 |
| No new shares issued | 225,420,000 | 127,943,000 | Fail | 0 |
| Rising gross margin | 37.30% | 23.53% | Pass | 1 |
| Rising asset turnover | 0.51 | 0.28 | Pass | 1 |
| Piotroski F-score | Mixed | 4 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| TIGR UP Fintech Holding Limited compare | 7 |
| CD Chaince Digital Holdings Inc. compare | 6 |
| HIVE HIVE Digital Technologies Ltd. | 4 |
| ABTC American Bitcoin Corp. compare | 4 |
| BTBT Bit Digital, Inc. compare | 2 |
| BTGO BitGo Holdings, Inc. compare | — |
| CSHR CoinShares PLC compare | — |
| SVIA Silvia, Inc. compare | — |
| GEMI Gemini Space Station, Inc. compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover