Hut 8 Corp. (HUT) vs Marex Group PLC (MRX)

Hut 8 Corp. and Marex Group PLC are both Capital Markets companies. Hut 8 Corp. is the larger, with a market value of $5.7B against $4.7B — 1.2× the size. Hut 8 Corp. has negative trailing earnings, so its P/E is not meaningful; Marex Group PLC trades at 15.3×. Marex Group PLC has the higher net margin (15.3% vs −169.8%) and the higher return on invested capital (0.00% vs 0.00%). Across the 14 metrics below, Marex Group PLC leads on 12 and Hut 8 Corp. on 2.

Valuation

Metric HUT MRX Capital Markets median
P/E n/m 15.34 14.35
P/S 18.87 2.26 2.07
P/B 2.99 2.49 1.36
Price to free cash flow n/m 2.03 9.28
EV/EBITDA — — —
EV/Sales — — —
Earnings yield (10.32%) 6.52% (8.28%)
Free cash flow yield (13.33%) 49.31% (1.12%)

Profitability

Metric HUT MRX Capital Markets median
Gross margin 0.00% 100.00% 68.15%
Operating margin (226.95%) 36.42% 0.00%
Net margin (169.83%) 15.28% (0.34%)
Free cash flow margin (20.42%) 0.00% 0.00%
Return on equity (28.95%) 0.00% 0.00%
Return on assets (7.97%) 0.00% 0.00%
Return on invested capital 0.00% 0.00% 0.00%

Growth

Metric HUT MRX Capital Markets median
Revenue growth (TTM) 71.33% — 19.72%
EPS growth (last fiscal year) (161.67%) 41.91% 16.79%
Revenue growth, 5-year CAGR 30.64% — 17.41%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric HUT MRX Capital Markets median
Debt to equity 0.00 4.96 0.07
Current ratio 9.48 1.09 1.51
Net debt to EBITDA (0.74) (12.17) (0.03)

Dividend

Metric HUT MRX Capital Markets median
Dividend yield — 0.96% 1.58%
Payout ratio — 0.16 0.19

Size

Metric HUT MRX Capital Markets median
Market cap 5.66b 4.67b 527.01m

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