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BITFARMS LTD/CANADA (BITF.CA) Stock Fundamental Analysis

TSX:BITF - Toronto Stock Exchange - CA09173B1076 - Common Stock - Currency: CAD

1.39  -0.01 (-0.71%)

Fundamental Rating

4

Taking everything into account, BITF scores 4 out of 10 in our fundamental rating. BITF was compared to 63 industry peers in the Software industry. The financial health of BITF is average, but there are quite some concerns on its profitability. BITF is valued quite expensive, but it does show an excellent growth.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

In the past year BITF has reported negative net income.
BITF had a negative operating cash flow in the past year.
BITF had negative earnings in 4 of the past 5 years.
In multiple years BITF reported negative operating cash flow during the last 5 years.
BITF.CA Yearly Net Income VS EBIT VS OCF VS FCFBITF.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 0 -100M -200M -300M -400M

1.2 Ratios

Looking at the Return On Assets, with a value of -8.10%, BITF is in line with its industry, outperforming 44.44% of the companies in the same industry.
BITF has a Return On Equity (-8.89%) which is in line with its industry peers.
Industry RankSector Rank
ROA -8.1%
ROE -8.89%
ROIC N/A
ROA(3y)-35.51%
ROA(5y)-26.79%
ROE(3y)-46.46%
ROE(5y)-47.92%
ROIC(3y)N/A
ROIC(5y)N/A
BITF.CA Yearly ROA, ROE, ROICBITF.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2017 2018 2019 2020 2021 2022 2023 2024 0 -20 -40 -60 -80 -100

1.3 Margins

The Profit Margin and Operating Margin and Gross Margin are not available for BITF so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
BITF.CA Yearly Profit, Operating, Gross MarginsBITF.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50 -100 -150

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6

2. Health

2.1 Basic Checks

BITF does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for BITF has been increased compared to 1 year ago.
BITF has more shares outstanding than it did 5 years ago.
The debt/assets ratio for BITF has been reduced compared to a year ago.
BITF.CA Yearly Shares OutstandingBITF.CA Yearly Shares OutstandingYearly Shares Outstanding 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M
BITF.CA Yearly Total Debt VS Total AssetsBITF.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

2.2 Solvency

BITF has an Altman-Z score of 4.85. This indicates that BITF is financially healthy and has little risk of bankruptcy at the moment.
With a decent Altman-Z score value of 4.85, BITF is doing good in the industry, outperforming 76.19% of the companies in the same industry.
A Debt/Equity ratio of 0.03 indicates that BITF is not too dependend on debt financing.
BITF has a Debt to Equity ratio of 0.03. This is in the better half of the industry: BITF outperforms 74.60% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF N/A
Altman-Z 4.85
ROIC/WACCN/A
WACC9.22%
BITF.CA Yearly LT Debt VS Equity VS FCFBITF.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M -400M 600M

2.3 Liquidity

A Current Ratio of 5.89 indicates that BITF has no problem at all paying its short term obligations.
BITF has a better Current ratio (5.89) than 85.71% of its industry peers.
A Quick Ratio of 5.86 indicates that BITF has no problem at all paying its short term obligations.
The Quick ratio of BITF (5.86) is better than 85.71% of its industry peers.
Industry RankSector Rank
Current Ratio 5.89
Quick Ratio 5.86
BITF.CA Yearly Current Assets VS Current LiabilitesBITF.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M

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7

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 57.70% over the past year.
Looking at the last year, BITF shows a very strong growth in Revenue. The Revenue has grown by 31.78%.
The Revenue has been growing by 42.85% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)57.7%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%115.77%
Revenue 1Y (TTM)31.78%
Revenue growth 3Y4.4%
Revenue growth 5Y42.85%
Sales Q2Q%21.46%

3.2 Future

BITF is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 139.06% yearly.
The Revenue is expected to grow by 35.37% on average over the next years. This is a very strong growth
EPS Next Y49.01%
EPS Next 2Y139.06%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year91%
Revenue Next 2Y87.87%
Revenue Next 3Y61.97%
Revenue Next 5Y35.37%

3.3 Evolution

The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
BITF.CA Yearly Revenue VS EstimatesBITF.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 200M 400M 600M 800M 1B
BITF.CA Yearly EPS VS EstimatesBITF.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 2025 2026 0 0.5 -0.5 -1

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1

4. Valuation

4.1 Price/Earnings Ratio

BITF reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Also next year BITF is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
Industry RankSector Rank
PE N/A
Fwd PE N/A
BITF.CA Price Earnings VS Forward Price EarningsBITF.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 -10 20 30 40

4.2 Price Multiples

68.25% of the companies in the same industry are more expensive than BITF, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 13.54
BITF.CA Per share dataBITF.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 0.5 -0.5 1 -1 1.5

4.3 Compensation for Growth

A more expensive valuation may be justified as BITF's earnings are expected to grow with 139.06% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y139.06%
EPS Next 3YN/A

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0

5. Dividend

5.1 Amount

No dividends for BITF!.
Industry RankSector Rank
Dividend Yield N/A

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BITFARMS LTD/CANADA

TSX:BITF (4/30/2025, 7:00:00 PM)

1.39

-0.01 (-0.71%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)03-27 2025-03-27/bmo
Earnings (Next)05-19 2025-05-19/bmo
Inst Owners25.43%
Inst Owner ChangeN/A
Ins Owners0.08%
Ins Owner ChangeN/A
Market Cap749.49M
Analysts82.86
Price Target6.63 (376.98%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)93%
Min EPS beat(2)-12.04%
Max EPS beat(2)198.04%
EPS beat(4)2
Avg EPS beat(4)47.43%
Min EPS beat(4)-30.91%
Max EPS beat(4)198.04%
EPS beat(8)3
Avg EPS beat(8)-70.1%
EPS beat(12)4
Avg EPS beat(12)-364.7%
EPS beat(16)6
Avg EPS beat(16)-285.94%
Revenue beat(2)1
Avg Revenue beat(2)-4.82%
Min Revenue beat(2)-11.96%
Max Revenue beat(2)2.32%
Revenue beat(4)2
Avg Revenue beat(4)-5.15%
Min Revenue beat(4)-13.39%
Max Revenue beat(4)2.44%
Revenue beat(8)6
Avg Revenue beat(8)12.53%
Revenue beat(12)7
Avg Revenue beat(12)6.27%
Revenue beat(16)9
Avg Revenue beat(16)8.54%
PT rev (1m)-3.7%
PT rev (3m)9.86%
EPS NQ rev (1m)-100%
EPS NQ rev (3m)-233.33%
EPS NY rev (1m)-275%
EPS NY rev (3m)-167.74%
Revenue NQ rev (1m)1.12%
Revenue NQ rev (3m)-21.07%
Revenue NY rev (1m)-8.66%
Revenue NY rev (3m)-7.37%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 2.81
P/FCF N/A
P/OCF N/A
P/B 0.89
P/tB 0.9
EV/EBITDA 13.54
EPS(TTM)-0.19
EYN/A
EPS(NY)-0.1
Fwd EYN/A
FCF(TTM)-1.23
FCFYN/A
OCF(TTM)-0.36
OCFYN/A
SpS0.49
BVpS1.56
TBVpS1.55
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -8.1%
ROE -8.89%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM N/A
FCFM N/A
ROA(3y)-35.51%
ROA(5y)-26.79%
ROE(3y)-46.46%
ROE(5y)-47.92%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score3
Asset Turnover0.29
Health
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF N/A
Debt/EBITDA 0.57
Cap/Depr 241.09%
Cap/Sales 176.2%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 5.89
Quick Ratio 5.86
Altman-Z 4.85
F-Score3
WACC9.22%
ROIC/WACCN/A
Cap/Depr(3y)198.14%
Cap/Depr(5y)284.61%
Cap/Sales(3y)120.6%
Cap/Sales(5y)97.75%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)57.7%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%115.77%
EPS Next Y49.01%
EPS Next 2Y139.06%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)31.78%
Revenue growth 3Y4.4%
Revenue growth 5Y42.85%
Sales Q2Q%21.46%
Revenue Next Year91%
Revenue Next 2Y87.87%
Revenue Next 3Y61.97%
Revenue Next 5Y35.37%
EBIT growth 1Y-73.79%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year262.39%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-171.4%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-32.97%
OCF growth 3YN/A
OCF growth 5YN/A