Marathon Digital Holdings, Inc.
MARA Financial Capital Markets
Marathon Digital Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $907.1 million, up 38.2% from fiscal 2024. In the quarter to June 2026, revenue fell 26.7%, EPS fell 169.9%, free cash flow grew 85.6% and total debt fell 19.9%, each against the same quarter a year earlier. Revenue growth for three consecutive years.
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Marathon Digital Holdings, Inc. (MARA) P/E ratio
Marathon Digital Holdings, Inc. has no meaningful P/E ratio: its trailing twelve-month earnings is negative. Over the past ten years it has ranged from 0.0× (October 2026) to 187× (January 2015) — the current reading is the lowest in ten years.
P/E ratio, daily
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Annual newest first
| Period | P/E ratio | Change |
|---|---|---|
| FY2025 | 0.0× | — |
| FY2024 | 9.0× | (49.64%) |
| FY2023 | 17.9× | — |
| FY2022 | 0.0× | — |
| FY2021 | 0.0× | — |
| FY2020 | 0.0× | — |
| FY2019 | 0.0× | — |
| FY2018 | 0.0× | — |
| FY2017 | 0.0× | — |
| FY2016 | 0.0× | — |
Quarterly newest first
| Period | P/E ratio | Change |
|---|---|---|
| Jun 2026 | 0.0× | — |
| Mar 2026 | 0.0× | — |
| Dec 2025 | 0.0× | — |
| Sep 2025 | 6.6× | (15.03%) |
| 42 more quarters | Free account |
Against its own ten years
P/E ratio against peers
| Company | P/E ratio |
|---|---|
| MARA Marathon Digital Holdings, Inc. | n/m |
| PURR Hyperliquid Strategies Inc compare | n/m |
| CLSK Cleanspark, Inc. compare | n/m |
| ETOR eToro Group Ltd. compare | 7.9× |
| PIPR Piper Sandler Companies compare | 14.2× |
| LAZ Lazard, Inc. compare | 16.3× |
| PJT PJT Partners Inc. compare | 17.9× |
| MC Moelis & Company compare | 18.0× |
| MIAX Miami International Holdings, Inc. compare | 26.0× |
| Capital Markets industry median | 14.2× |
| Financial sector median | 12.4× |
| Market median | 18.1× |
What P/E ratio is
Price to Earnings Ratio shows how much investors pay for each dollar of a company’s annual profit per share.
Stock Price ÷ EPS (Basic) (TTM)