CoinShares PLC (CSHR) vs HIVE Digital Technologies Ltd. (HIVE)

CoinShares PLC and HIVE Digital Technologies Ltd. are both Capital Markets companies. HIVE Digital Technologies Ltd. is the larger, with a market value of $907.9M against $769.7M — 1.2× the size. HIVE Digital Technologies Ltd. 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 −98.5%) and the higher return on invested capital (0.00% vs −18.8%). Across the 12 metrics below, CoinShares PLC leads on 10 and HIVE Digital Technologies Ltd. on 2.

Valuation

Metric CSHR HIVE Capital Markets median
P/E 7.32 n/m 15.78
P/S n/m 2.54 2.32
P/B n/m 1.99 1.89
Price to free cash flow n/m n/m 6.25
EV/EBITDA n/m 22.89 8.87
EV/Sales n/m 2.87 2.28
Earnings yield 13.65% (40.82%) (3.77%)
Free cash flow yield (3.07%) (14.13%) (1.49%)

Profitability

Metric CSHR HIVE Capital Markets median
Gross margin — 36.12% 62.80%
Operating margin 0.00% (48.45%) 0.00%
Net margin 0.00% (98.51%) (0.55%)
Free cash flow margin 0.00% (35.89%) 0.00%
Return on equity (103.66%) (66.39%) 0.00%
Return on assets 4.73% (42.02%) 0.00%
Return on invested capital 0.00% (18.81%) 0.00%

Growth

Metric CSHR HIVE Capital Markets median
Revenue growth (TTM) — 157.52% 21.02%
EPS growth (last fiscal year) 147.36% (3,200.00%) —
Revenue growth, 5-year CAGR — 34.48% 18.16%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric CSHR HIVE Capital Markets median
Debt to equity 0.00 0.85 0.08
Current ratio 0.18 1.96 1.51
Net debt to EBITDA 0.02 0.38 (0.24)

Dividend

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

Size

Metric CSHR HIVE Capital Markets median
Market cap 769.71m 907.87m 724.58m

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