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BITFARMS LTD/CANADA (BITF) Stock Fundamental Analysis

NASDAQ:BITF - Nasdaq - CA09173B1076 - Common Stock - Currency: USD

1.32  -0.07 (-5.04%)

After market: 1.33 +0.01 (+0.76%)

Fundamental Rating

4

Taking everything into account, BITF scores 4 out of 10 in our fundamental rating. BITF was compared to 284 industry peers in the Software industry. While BITF seems to be doing ok healthwise, there are quite some concerns on its profitability. BITF is valued quite expensively, but it does show have an excellent growth rating.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

BITF had negative earnings in the past year.
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.
The reported operating cash flow has been mixed in the past 5 years: BITF reported negative operating cash flow in multiple years.
BITF Yearly Net Income VS EBIT VS OCF VS FCFBITF 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 72.46% of its industry peers.
The Return On Equity of BITF (-24.73%) is comparable to the rest of the 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 Yearly ROA, ROE, ROICBITF 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 Yearly Profit, Operating, Gross MarginsBITF 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.
BITF has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
BITF Yearly Shares OutstandingBITF Yearly Shares OutstandingYearly Shares Outstanding 2017 2018 2019 2020 2021 2022 50M 100M 150M 200M
BITF Yearly Total Debt VS Total AssetsBITF 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 4.57. This indicates that BITF is financially healthy and has little risk of bankruptcy at the moment.
BITF's Altman-Z score of 4.57 is fine compared to the rest of the industry. BITF outperforms 61.96% of its industry peers.
A Debt/Equity ratio of 0.04 indicates that BITF is not too dependend on debt financing.
BITF has a Debt to Equity ratio (0.04) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.04
Debt/FCF N/A
Altman-Z 4.57
ROIC/WACCN/A
WACC12.67%
BITF Yearly LT Debt VS Equity VS FCFBITF 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

A Current Ratio of 3.70 indicates that BITF has no problem at all paying its short term obligations.
Looking at the Current ratio, with a value of 3.70, BITF belongs to the top of the industry, outperforming 81.52% of the companies in the same industry.
A Quick Ratio of 3.68 indicates that BITF has no problem at all paying its short term obligations.
BITF has a Quick ratio of 3.68. This is amongst the best in the industry. BITF outperforms 81.52% of its industry peers.
Industry RankSector Rank
Current Ratio 3.7
Quick Ratio 3.68
BITF Yearly Current Assets VS Current LiabilitesBITF 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%.
BITF shows a strong growth in Revenue. In the last year, the Revenue has grown by 43.88%.
Measured over the past years, BITF shows a very strong growth in Revenue. The Revenue has been growing by 34.06% on average per year.
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

The Earnings Per Share is expected to grow by 52.86% on average over the next years. This is a very strong growth
BITF is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 40.26% yearly.
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 Yearly Revenue VS EstimatesBITF 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 Yearly EPS VS EstimatesBITF 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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2

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for BITF. In the last year negative earnings were reported.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for BITF. No positive earnings are expected for the next year.
Industry RankSector Rank
PE N/A
Fwd PE N/A
BITF Price Earnings VS Forward Price EarningsBITF Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 -20 40 -40 -60

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of BITF indicates a rather cheap valuation: BITF is cheaper than 88.41% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 15.14
BITF Per share dataBITF EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 0.5 -0.5 1

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

NASDAQ:BITF (2/21/2025, 8:03:33 PM)

After market: 1.33 +0.01 (+0.76%)

1.32

-0.07 (-5.04%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)11-13 2024-11-13/bmo
Earnings (Next)03-19 2025-03-19/bmo
Inst Owners25.43%
Inst Owner Change25.48%
Ins Owners0.08%
Ins Owner ChangeN/A
Market Cap632.72M
Analysts82.86
Price Target4.8 (263.64%)
Short Float %16.57%
Short Ratio1.42
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)14.93%
PT rev (3m)9.94%
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 3.46
P/FCF N/A
P/OCF N/A
P/B 1.24
P/tB 1.25
EV/EBITDA 15.14
EPS(TTM)-0.36
EYN/A
EPS(NY)-0.02
Fwd EYN/A
FCF(TTM)-0.78
FCFYN/A
OCF(TTM)-0.17
OCFYN/A
SpS0.38
BVpS1.07
TBVpS1.06
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 4.57
F-Score4
WACC12.67%
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