Saturday 17 October 2026
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TeraWulf Inc.
WULF Financial Capital Markets
TeraWulf Inc.’s revenue for fiscal 2025 (year ended December 2025) was $168.5 million, up 20.3% from fiscal 2024. In the quarter to June 2026, revenue fell 6.02%, EPS fell 3,780.0%, free cash flow fell 695.3% and total debt rose 966.1%, each against the same quarter a year earlier. Revenue growth for three consecutive years; insiders bought in the last twelve months.
11.68
0.94
−7.45%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
1 | 4 | — | — | — | 4 | 3 | 8 | 5 | 4 |
P/E ratio |
0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 | 120.43 | 0.00 | 0.00 |
P/S ratio |
27.12 | 14.20 | 6.98 | 5.23 | — | 1.47 | 0.60 | 0.92 | 0.90 | 1.28 |
P/FCF ratio |
0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 | 26.48 | 0.00 | 0.00 |
P/Operating CF |
(51.81) | (46.54) | 44.32 | (17.62) | — | 85.19 | 74.30 | 108.82 | 272.84 | 200.25 |
P/B ratio |
32.53 | 8.46 | 2.26 | 0.72 | — | 1.66 | 0.86 | 1.28 | 1.20 | 1.68 |
Price to Tangible BV |
53.75 | 8.46 | 2.27 | 0.73 | — | 1.70 | 0.88 | 1.31 | 1.24 | 1.72 |
EV/Sales |
37.30 | 16.24 | 8.00 | 13.35 | — | 1.43 | 0.58 | 0.84 | 0.86 | 1.22 |
EV/EBITDA |
0.00 | 0.00 | 28.48 | 0.00 | — | 0.00 | 0.00 | 15.04 | 36.13 | 27.80 |
EV/Operating CF |
(51.01) | (93.14) | 129.90 | (5.89) | — | (48.09) | (21.48) | 12.54 | 72.46 | 23.42 |
EV/FCF |
(6.16) | (11.28) | (7.81) | (2.11) | — | (35.17) | (10.68) | 24.31 | (466.40) | (18.62) |
Quick Ratio |
1.99 | 5.37 | 0.36 | 0.07 | 1.03 | 1.68 | 2.90 | 5.01 | 6.87 | 5.10 |
Current Ratio |
2.00 | 5.43 | 0.40 | 0.11 | 1.48 | 2.17 | 4.49 | 6.87 | 9.44 | 6.89 |
Net Debt/EBITDA |
(24.16) | (58.51) | 3.65 | (4.87) | (1.14) | 0.92 | 1.27 | (1.34) | (1.82) | (1.41) |
Debt/Assets |
78.85% | 61.94% | 33.15% | 41.06% | 35.75% | 17.42% | 16.72% | 16.94% | 18.18% | 17.52% |
Debt/Equity |
36.82 | 2.00 | 0.56 | 1.11 | 0.77 | 0.23 | 0.23 | 0.23 | 0.24 | 0.24 |
Asset Turnover |
0.05 | 0.24 | 0.20 | 0.05 | 0.00 | 0.83 | 1.03 | 1.06 | 0.98 | 1.05 |
Operating CF/Net income |
0.19 | 0.34 | (0.06) | 0.38 | 0.25 | 0.91 | 0.59 | 8.78 | (0.91) | (14.08) |
Capex/Depreciation |
(7.79) | (2.44) | (1.54) | (3.28) | (112.10) | (0.21) | (0.71) | (0.75) | (0.27) | (2.61) |
Interest Coverage |
(2.32) | (3.85) | (0.85) | (1.77) | (19.25) | (20.62) | (10.62) | 2.49 | (5.59) | (0.38) |
| (352.18%) | (32.30%) | (45.65%) | (78.38%) | (141.73%) | (3.65%) | (6.41%) | 1.07% | (1.71%) | (0.48%) | |
| (18.01%) | (12.43%) | (21.10%) | (31.17%) | (68.26%) | (2.72%) | (4.74%) | 0.81% | (1.28%) | (0.39%) | |
ROIC |
(6.27%) | (10.40%) | (6.27%) | (11.40%) | (15.82%) | (10.30%) | (5.02%) | 1.20% | (2.38%) | (0.11%) |
Return on Tangible Assets |
(20.35%) | (11.29%) | (64.85%) | (113.99%) | (84.20%) | (3.79%) | (5.54%) | 0.89% | (1.44%) | (0.39%) |
Average Days of Receivables |
9.98 | 11.14 | 5.28 | 0.00 | 0.00 | 63.55 | 50.47 | 44.45 | 46.41 | 49.91 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | — | 5.00% | 4.94% | 3.72% | 3.99% | 3.68% |
Selling, General and Administrative Expense of Revenue |
87.71% | 50.39% | 53.47% | 239.81% | 0.00% | 37.37% | 31.12% | 29.38% | 31.93% | 31.94% |
Intangible Assets out of Total Assets |
0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 |
Share Based Compensation of Revenue |
30.22% | 22.35% | 8.50% | 10.98% | — | 0.16% | 0.05% | 0.07% | 0.14% | 0.14% |
Graham Net Nets |
(0.64) | (0.13) | (0.19) | (2.37) | — | 0.21 | 0.38 | 0.28 | 0.28 | 0.19 |
Graham Number |
0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 | 3.23 | 0.00 | 0.00 |
Earnings Yield |
(14.19%) | (3.53%) | (15.27%) | (117.89%) | — | (2.31%) | (7.66%) | 0.83% | (1.42%) | (0.33%) |
Free Cash Flow Yield |
(22.34%) | (10.14%) | (14.69%) | (121.21%) | — | (2.77%) | (9.06%) | 3.78% | (0.20%) | (5.11%) |
Revenue per Share |
0.42 | 0.40 | 0.33 | 0.14 | 0.00 | 6.80 | 8.90 | 9.18 | 8.59 | 8.70 |
Operating CF per Share |
(0.31) | (0.07) | 0.02 | (0.31) | (0.28) | (0.20) | (0.24) | 0.62 | 0.10 | 0.45 |
Capex per Share |
(2.26) | (0.50) | (0.36) | (0.55) | (1.28) | (0.07) | (0.24) | (0.30) | (0.12) | (1.03) |
Free Cash Flow per Share |
(2.57) | (0.57) | (0.34) | (0.86) | (1.56) | (0.28) | (0.48) | 0.32 | (0.02) | (0.57) |
Cash per Share |
8.69 | 0.78 | 0.26 | 0.08 | 0.55 | 1.87 | 1.60 | 2.18 | 1.91 | 2.13 |
Shareholders Equity per Share |
0.35 | 0.70 | 1.06 | 1.06 | 1.45 | 5.99 | 6.19 | 6.61 | 6.45 | 6.67 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
0.35 | 0.70 | 1.06 | 1.06 | 1.45 | 5.99 | 6.19 | 6.61 | 6.45 | 6.67 |
Free Cash Flow |
(1,020.39) | (201.67) | (70.90) | (95.18) | (133.17) | (0.55) | (0.96) | 0.63 | (0.03) | (1.15) |
Working Capital |
1,742.43 | 229.59 | (92.07) | (111.87) | 22.20 | 4.21 | 6.76 | 7.65 | 7.40 | 7.73 |
Capital Expenditures |
(897.21) | (177.24) | (75.17) | (61.12) | (109.07) | (0.15) | (0.48) | (0.59) | (0.24) | (2.07) |
Net Current Asset Value |
(2,939.46) | (261.63) | (93.03) | (185.79) | (73.68) | 4.21 | 4.07 | 4.65 | 4.31 | 4.21 |
EV/EBIT |
0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 | 67.99 | 0.00 | 0.00 |
Capex to Sales |
5.33 | 1.27 | 1.09 | 4.07 | 0.00 | 0.01 | 0.03 | 0.03 | 0.01 | 0.12 |
Price to Operating Income |
0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 | 74.04 | 0.00 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.08 | 0.18 | 0.24 | 0.10 | 0.01 | 0.09 | 0.09 | 0.10 | 0.11 | 0.09 |
Cash ROIC |
(11.64%) | (20.04%) | (17.63%) | (37.11%) | (50.38%) | (2.99%) | (5.26%) | 3.10% | (0.16%) | (5.50%) |
Accounts Receivable Turnover |
37.94 | 53.10 | 84.02 | 0.00 | 0.00 | 5.63 | 7.57 | 8.26 | 7.51 | 7.52 |
Accounts Payable Turnover |
1.85 | 3.17 | 1.37 | 0.55 | 0.01 | 15.60 | 17.35 | 24.67 | 21.88 | 15.27 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4.98 | 5.78 | 5.79 | 5.65 | 5.52 |
Average Days of Payables |
287.62 | 142.15 | 202.70 | 815.59 | 110,082.60 | 17.62 | 22.75 | 19.76 | 10.21 | 23.52 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 63.02 | 65.12 | 62.46 | 66.14 | 63.97 |
Average Receivables |
4.44 | 2.64 | 0.82 | — | 1.49 | 2.39 | 2.33 | 2.21 | 2.30 | 2.34 |
Average Payables |
44.76 | 19.78 | 19.97 | 20.22 | 8.07 | 0.61 | 0.70 | 0.48 | 0.53 | 0.74 |
Average Inventory |
— | — | — | — | — | 1.91 | 2.11 | 2.07 | 2.04 | 2.05 |
Average Assets |
3,672.85 | 582.81 | 347.90 | 291.30 | 140.17 | 16.16 | 17.15 | 17.17 | 17.61 | 16.66 |
Average Common Equity |
187.81 | 224.19 | 160.85 | 115.83 | 67.51 | 12.05 | 12.68 | 13.03 | 13.21 | 13.48 |
Columns are period end dates