BitFuFu Inc. (FUFU) vs Soluna Holdings, Inc. (SLNH)

BitFuFu Inc. and Soluna Holdings, Inc. are both Capital Markets companies. Soluna Holdings, Inc. is the larger, with a market value of $310.9M against $210.0M — 1.5× the size. Soluna Holdings, Inc. grew revenue faster over the last twelve months: 50.9% against 4.33%. BitFuFu Inc. has the higher net margin (−29.3% vs −219.5%) and the lower return on invested capital (−101.5% vs −27.4%). Across the 17 metrics below, BitFuFu Inc. leads on 11 and Soluna Holdings, Inc. on 6.

Valuation

Metric FUFU SLNH Capital Markets median
P/E n/m n/m 15.78
P/S 0.59 3.80 2.32
P/B 1.58 0.76 1.89
Price to free cash flow n/m n/m 6.25
EV/EBITDA n/m n/m 8.87
EV/Sales 0.54 1.69 2.28
Earnings yield (49.68%) (68.89%) (3.77%)
Free cash flow yield (27.09%) (30.84%) (1.49%)

Profitability

Metric FUFU SLNH Capital Markets median
Gross margin 2.26% 16.11% 62.80%
Operating margin (29.95%) (127.03%) 0.00%
Net margin (29.29%) (219.50%) (0.55%)
Free cash flow margin (16.07%) (117.11%) 0.00%
Return on equity 0.00% (77.06%) 0.00%
Return on assets (32.24%) (47.92%) 0.00%
Return on invested capital (101.53%) (27.40%) 0.00%

Growth

Metric FUFU SLNH Capital Markets median
Revenue growth (TTM) 4.33% 50.86% 21.02%
EPS growth (last fiscal year) (153.97%) 80.41% —
Revenue growth, 5-year CAGR — 118.62% 18.16%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric FUFU SLNH Capital Markets median
Debt to equity 1.05 0.17 0.08
Current ratio 4.22 2.06 1.51
Net debt to EBITDA (16.07) 3.24 (0.24)

Dividend

Metric FUFU SLNH Capital Markets median
Dividend yield — — 2.20%
Payout ratio 0.00 0.00 0.00

Size

Metric FUFU SLNH Capital Markets median
Market cap 209.98m 310.85m 724.58m

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