DeFi Technologies Inc. (DEFT) vs Soluna Holdings, Inc. (SLNH)

DeFi Technologies Inc. and Soluna Holdings, Inc. are both Capital Markets companies. DeFi Technologies Inc. and Soluna Holdings, Inc. are of similar size ($183.8M and $171.2M). Soluna Holdings, Inc. has negative trailing earnings, so its P/E is not meaningful; DeFi Technologies Inc. trades at 7.2×. Soluna Holdings, Inc. grew revenue faster over the last twelve months: 50.9% against −8.13%. DeFi Technologies Inc. has the higher net margin (38.5% vs −219.5%) and the higher return on invested capital (51.1% vs −27.4%). Across the 16 metrics below, DeFi Technologies Inc. leads on 11 and Soluna Holdings, Inc. on 5.

Valuation

Metric DEFT SLNH Capital Markets median
P/E 7.17 n/m 14.20
P/S 2.73 2.05 2.00
P/B 1.20 0.41 1.51
Price to free cash flow n/m n/m 6.36
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 13.95% (127.35%) (3.94%)
Free cash flow yield (48.85%) (57.00%) (1.62%)

Profitability

Metric DEFT SLNH Capital Markets median
Gross margin 100.00% 16.11% 62.80%
Operating margin 19.64% (127.03%) 0.00%
Net margin 38.50% (219.50%) (0.55%)
Free cash flow margin (133.16%) (117.11%) 0.00%
Return on equity 22.98% (77.06%) 0.00%
Return on assets 3.26% (47.92%) 0.00%
Return on invested capital 51.14% (27.40%) 0.00%

Growth

Metric DEFT SLNH Capital Markets median
Revenue growth (TTM) (8.13%) 50.86% 20.70%
EPS growth (last fiscal year) 288.89% 80.41% 22.92%
Revenue growth, 5-year CAGR — 118.62% 18.16%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric DEFT SLNH Capital Markets median
Debt to equity 0.00 0.17 0.08
Current ratio 1.14 2.06 1.50
Net debt to EBITDA (2.07) 3.24 (0.24)

Dividend

Metric DEFT SLNH Capital Markets median
Dividend yield — — 1.36%
Payout ratio — — 0.19

Size

Metric DEFT SLNH Capital Markets median
Market cap 171.15m 183.82m 565.91m

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