Bit Digital, Inc. (BTBT) vs CoinShares PLC (CSHR)

Bit Digital, Inc. and CoinShares PLC are both Capital Markets companies. CoinShares PLC is the larger, with a market value of $769.7M against $645.5M — 1.2× the size. Bit Digital, Inc. has negative trailing earnings, so its P/E is not meaningful; CoinShares PLC trades at 7.3×. CoinShares PLC has the higher net margin (0.00% vs −237.2%) and the higher return on invested capital (0.00% vs −19.6%). Across the 12 metrics below, CoinShares PLC leads on 10 and Bit Digital, Inc. on 2.

Valuation

Metric BTBT CSHR Capital Markets median
P/E n/m 7.32 15.78
P/S 5.02 n/m 2.32
P/B 1.18 n/m 1.89
Price to free cash flow n/m n/m 6.25
EV/EBITDA n/m n/m 8.87
EV/Sales 7.86 n/m 2.28
Earnings yield (59.66%) 13.65% (3.77%)
Free cash flow yield (119.00%) (3.07%) (1.49%)

Profitability

Metric BTBT CSHR Capital Markets median
Gross margin 57.64% — 62.80%
Operating margin (225.29%) 0.00% 0.00%
Net margin (237.20%) 0.00% (0.55%)
Free cash flow margin (596.79%) 0.00% 0.00%
Return on equity (50.79%) (103.66%) 0.00%
Return on assets (29.74%) 4.73% 0.00%
Return on invested capital (19.62%) 0.00% 0.00%

Growth

Metric BTBT CSHR Capital Markets median
Revenue growth (TTM) 23.59% — 21.02%
EPS growth (last fiscal year) (263.16%) 147.36% —
Revenue growth, 5-year CAGR 40.07% — 18.16%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric BTBT CSHR Capital Markets median
Debt to equity 0.83 0.00 0.08
Current ratio 1.51 0.18 1.51
Net debt to EBITDA 7.85 0.02 (0.24)

Dividend

Metric BTBT CSHR Capital Markets median
Dividend yield — — 2.20%
Payout ratio 0.00 — 0.00

Size

Metric BTBT CSHR Capital Markets median
Market cap 645.53m 769.71m 724.58m

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