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

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

1.87  -0.11 (-5.56%)

Fundamental Rating

4

Overall BITF gets a fundamental rating of 4 out of 10. We evaluated BITF against 66 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.
In the past year BITF has reported a negative cash flow from operations.
In the past 5 years BITF reported 4 times negative net income.
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 0 -100M -200M

1.2 Ratios

BITF has a worse Return On Assets (-21.58%) than 63.64% of its industry peers.
Looking at the Return On Equity, with a value of -24.73%, BITF is in line with its industry, outperforming 45.45% of the companies in the same industry.
Industry RankSector Rank
ROA -21.58%
ROE -24.73%
ROIC N/A
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
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 0 -20 -40 -60 -80 -100

1.3 Margins

BITF does not have Profit Margin and Operating Margin and Gross Margin available, so we won't be analyzing them here.
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 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.
There is no outstanding debt for BITF. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
BITF.CA Yearly Shares OutstandingBITF.CA Yearly Shares OutstandingYearly Shares Outstanding 2017 2018 2019 2020 2021 2022 50M 100M 150M 200M
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 100M 200M 300M 400M 500M

2.2 Solvency

BITF has an Altman-Z score of 4.58. This indicates that BITF is financially healthy and has little risk of bankruptcy at the moment.
The Altman-Z score of BITF (4.58) is better than 71.21% of its industry peers.
BITF has a Debt/Equity ratio of 0.04. This is a healthy value indicating a solid balance between debt and equity.
BITF has a better Debt to Equity ratio (0.04) than 72.73% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.04
Debt/FCF N/A
Altman-Z 4.58
ROIC/WACCN/A
WACC12.62%
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 0 200M -200M 400M

2.3 Liquidity

BITF has a Current Ratio of 3.70. This indicates that BITF is financially healthy and has no problem in meeting its short term obligations.
BITF has a better Current ratio (3.70) than 86.36% of its industry peers.
BITF has a Quick Ratio of 3.68. This indicates that BITF is financially healthy and has no problem in meeting its short term obligations.
BITF has a Quick ratio of 3.68. This is amongst the best in the industry. BITF outperforms 87.88% of its industry peers.
Industry RankSector Rank
Current Ratio 3.7
Quick Ratio 3.68
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 50M 100M 150M 200M 250M

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7

3. Growth

3.1 Past

BITF shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -62.98%.
The Revenue has grown by 43.88% in the past year. This is a very strong growth!
BITF shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 34.06% yearly.
EPS 1Y (TTM)-62.98%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-14.16%
Revenue 1Y (TTM)43.88%
Revenue growth 3Y61.57%
Revenue growth 5Y34.06%
Sales Q2Q%29.65%

3.2 Future

Based on estimates for the next years, BITF will show a very strong growth in Earnings Per Share. The EPS will grow by 52.86% on average per year.
Based on estimates for the next years, BITF will show a very strong growth in Revenue. The Revenue will grow by 40.26% on average per year.
EPS Next Y38.37%
EPS Next 2Y39.23%
EPS Next 3Y52.86%
EPS Next 5YN/A
Revenue Next Year86.29%
Revenue Next 2Y91.7%
Revenue Next 3Y84.6%
Revenue Next 5Y40.26%

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
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 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 0 0.5 -0.5 -1

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1

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for BITF. In the last year negative earnings were reported.
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 20 -20 40 -40 60 -60

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of BITF indicates a somewhat cheap valuation: BITF is cheaper than 66.67% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 15.18
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 52.86% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y39.23%
EPS Next 3Y52.86%

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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 (2/21/2025, 7:00:00 PM)

1.87

-0.11 (-5.56%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)11-13 2024-11-13/bmo
Earnings (Next)03-05 2025-03-05/bmo
Inst Owners20.22%
Inst Owner ChangeN/A
Ins Owners0.09%
Ins Owner ChangeN/A
Market Cap896.35M
Analysts82.86
Price Target6.89 (268.45%)
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)11.3%
Min EPS beat(2)-12.04%
Max EPS beat(2)34.64%
EPS beat(4)1
Avg EPS beat(4)-188.1%
Min EPS beat(4)-744.07%
Max EPS beat(4)34.64%
EPS beat(8)3
Avg EPS beat(8)-94.66%
EPS beat(12)3
Avg EPS beat(12)-385.14%
EPS beat(16)5
Avg EPS beat(16)-310.42%
Revenue beat(2)0
Avg Revenue beat(2)-12.67%
Min Revenue beat(2)-13.39%
Max Revenue beat(2)-11.96%
Revenue beat(4)2
Avg Revenue beat(4)6.22%
Min Revenue beat(4)-13.39%
Max Revenue beat(4)47.78%
Revenue beat(8)6
Avg Revenue beat(8)12.68%
Revenue beat(12)6
Avg Revenue beat(12)5.52%
Revenue beat(16)9
Avg Revenue beat(16)9.52%
PT rev (1m)14.08%
PT rev (3m)14.08%
EPS NQ rev (1m)-50%
EPS NQ rev (3m)-400%
EPS NY rev (1m)-81.82%
EPS NY rev (3m)-81.82%
Revenue NQ rev (1m)-15.07%
Revenue NQ rev (3m)-41.25%
Revenue NY rev (1m)-7.14%
Revenue NY rev (3m)-13.39%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 3.45
P/FCF N/A
P/OCF N/A
P/B 1.23
P/tB 1.24
EV/EBITDA 15.18
EPS(TTM)-0.51
EYN/A
EPS(NY)-0.03
Fwd EYN/A
FCF(TTM)-1.11
FCFYN/A
OCF(TTM)-0.25
OCFYN/A
SpS0.54
BVpS1.52
TBVpS1.51
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -21.58%
ROE -24.73%
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)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
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-Score4
Asset Turnover0.31
Health
Industry RankSector Rank
Debt/Equity 0.04
Debt/FCF N/A
Debt/EBITDA 0.53
Cap/Depr 209.44%
Cap/Sales 158.17%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 3.7
Quick Ratio 3.68
Altman-Z 4.58
F-Score4
WACC12.62%
ROIC/WACCN/A
Cap/Depr(3y)380.97%
Cap/Depr(5y)305.89%
Cap/Sales(3y)99.88%
Cap/Sales(5y)77.18%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-62.98%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-14.16%
EPS Next Y38.37%
EPS Next 2Y39.23%
EPS Next 3Y52.86%
EPS Next 5YN/A
Revenue 1Y (TTM)43.88%
Revenue growth 3Y61.57%
Revenue growth 5Y34.06%
Sales Q2Q%29.65%
Revenue Next Year86.29%
Revenue Next 2Y91.7%
Revenue Next 3Y84.6%
Revenue Next 5Y40.26%
EBIT growth 1Y-33.07%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year250.77%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-56.06%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-1081.65%
OCF growth 3YN/A
OCF growth 5YN/A