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Cleanspark, Inc. (CLSK) vs Ionic Digital Inc. (IOND)

Cleanspark, Inc. and Ionic Digital Inc. are both Capital Markets companies. Ionic Digital Inc. is the larger, with a market value of $2.5B against $1.5B — 1.7× the size. Ionic Digital Inc. has the higher net margin (−24.9% vs −151.8%) and the higher return on invested capital (−3.52% vs −23.9%). Across the 14 metrics below, Ionic Digital Inc. leads on 11 and Cleanspark, Inc. on 3.

Valuation

Metric CLSK IOND Capital Markets median
P/E n/m n/m 14.35
P/S 2.27 11.53 2.07
P/B 2.03 4.03 1.36
Price to free cash flow n/m n/m 9.28
EV/EBITDA — 102.91 —
EV/Sales — 10.83 —
Earnings yield (65.57%) (2.15%) (8.28%)
Free cash flow yield (8.47%) (5.18%) (1.12%)

Profitability

Metric CLSK IOND Capital Markets median
Gross margin 46.99% 68.15% 68.15%
Operating margin (131.59%) (14.07%) 0.00%
Net margin (151.84%) (24.90%) (0.34%)
Free cash flow margin (18.27%) (59.70%) 0.00%
Return on equity (70.93%) 0.00% 0.00%
Return on assets (35.54%) 0.00% 0.00%
Return on invested capital (23.90%) (3.52%) 0.00%

Growth

Metric CLSK IOND Capital Markets median
Revenue growth (TTM) 7.49% — 19.72%
EPS growth (last fiscal year) 262.32% — 16.79%
Revenue growth, 5-year CAGR 138.03% — 17.41%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric CLSK IOND Capital Markets median
Debt to equity 2.34 0.00 0.07
Current ratio 5.91 24.39 1.51
Net debt to EBITDA 1.16 0.00 (0.03)

Dividend

Metric CLSK IOND Capital Markets median
Dividend yield — — 1.58%
Payout ratio — — 0.19

Size

Metric CLSK IOND Capital Markets median
Market cap 1.46b 2.46b 527.01m

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