Hut 8 Corp. (HUT) vs Riot Platforms, Inc. (RIOT)

Hut 8 Corp. and Riot Platforms, Inc. are both Capital Markets companies. Hut 8 Corp. is the larger, with a market value of $12.7B against $8.9B — 1.4× the size. Hut 8 Corp. grew revenue faster over the last twelve months: 129.5% against 24.5%. Hut 8 Corp. has the higher net margin (−188.7% vs −196.3%) and the higher return on invested capital (−27.5% vs −34.0%). Across the 18 metrics below, Hut 8 Corp. leads on 10 and Riot Platforms, Inc. on 8.

Valuation

Metric HUT RIOT Capital Markets median
P/E n/m n/m 15.78
P/S 36.08 11.86 2.32
P/B 6.54 3.65 1.89
Price to free cash flow n/m n/m 6.25
EV/EBITDA n/m n/m 8.87
EV/Sales 37.28 12.27 2.28
Earnings yield (5.61%) (16.74%) (3.77%)
Free cash flow yield (6.94%) (9.11%) (1.49%)

Profitability

Metric HUT RIOT Capital Markets median
Gross margin 55.95% 28.26% 62.80%
Operating margin (295.30%) (199.22%) 0.00%
Net margin (188.65%) (196.28%) (0.55%)
Free cash flow margin (251.08%) (107.46%) 0.00%
Return on equity (38.18%) (48.24%) 0.00%
Return on assets (10.00%) (35.08%) 0.00%
Return on invested capital (27.46%) (34.02%) 0.00%

Growth

Metric HUT RIOT Capital Markets median
Revenue growth (TTM) 129.50% 24.51% 21.02%
EPS growth (last fiscal year) (161.67%) (673.53%) —
Revenue growth, 5-year CAGR 30.64% 121.73% 18.16%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric HUT RIOT Capital Markets median
Debt to equity 4.22 0.38 0.08
Current ratio 19.35 1.59 1.51
Net debt to EBITDA (0.74) (0.87) (0.24)

Dividend

Metric HUT RIOT Capital Markets median
Dividend yield — — 2.20%
Payout ratio 0.00 0.00 0.00

Size

Metric HUT RIOT Capital Markets median
Market cap 12.72b 8.90b 724.58m

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