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BITFARMS LTD/CANADA (BITF) Stock Fundamental Analysis

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

0.9367  +0.1 (+12.19%)

Fundamental Rating

4

Overall BITF gets a fundamental rating of 4 out of 10. We evaluated BITF against 285 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 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.
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 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 2024 0 -100M -200M -300M -400M

1.2 Ratios

The Return On Assets of BITF (-8.10%) is comparable to the rest of the industry.
BITF has a Return On Equity (-8.89%) which is comparable to the rest of the industry.
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 Yearly ROA, ROE, ROICBITF 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 Yearly Profit, Operating, Gross MarginsBITF 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 Yearly Shares OutstandingBITF Yearly Shares OutstandingYearly Shares Outstanding 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M
BITF Yearly Total Debt VS Total AssetsBITF 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

An Altman-Z score of 3.92 indicates that BITF is not in any danger for bankruptcy at the moment.
BITF has a Altman-Z score of 3.92. This is in the better half of the industry: BITF outperforms 68.07% of its industry peers.
BITF has a Debt/Equity ratio of 0.03. This is a healthy value indicating a solid balance between debt and equity.
BITF has a Debt to Equity ratio of 0.03. This is comparable to the rest of the industry: BITF outperforms 59.30% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF N/A
Altman-Z 3.92
ROIC/WACCN/A
WACC9.63%
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 2024 0 200M -200M 400M -400M 600M

2.3 Liquidity

BITF has a Current Ratio of 5.89. This indicates that BITF is financially healthy and has no problem in meeting its short term obligations.
With an excellent Current ratio value of 5.89, BITF belongs to the best of the industry, outperforming 88.07% of the companies in the same industry.
BITF has a Quick Ratio of 5.86. This indicates that BITF is financially healthy and has no problem in meeting its short term obligations.
Looking at the Quick ratio, with a value of 5.86, BITF belongs to the top of the industry, outperforming 88.07% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 5.89
Quick Ratio 5.86
BITF Yearly Current Assets VS Current LiabilitesBITF 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

BITF shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 57.70%, which is quite impressive.
BITF shows a strong growth in Revenue. In the last year, the Revenue has grown by 31.78%.
BITF shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 42.85% yearly.
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.
BITF is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 34.17% yearly.
EPS Next Y49.01%
EPS Next 2Y139.06%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year100.05%
Revenue Next 2Y83.76%
Revenue Next 3Y59.6%
Revenue Next 5Y34.17%

3.3 Evolution

The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
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 2020 2021 2022 2023 2024 2025 2026 0 0.5 -0.5 -1

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2

4. Valuation

4.1 Price/Earnings Ratio

BITF reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
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 10 -10 20 30 40

4.2 Price Multiples

89.12% 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 11.08
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 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

BITF does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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BITFARMS LTD/CANADA

NASDAQ:BITF (4/22/2025, 11:38:03 AM)

0.9367

+0.1 (+12.19%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)03-27 2025-03-27/bmo
Earnings (Next)05-13 2025-05-13/bmo
Inst Owners25.43%
Inst Owner Change-0.02%
Ins Owners0.08%
Ins Owner ChangeN/A
Market Cap505.07M
Analysts82.86
Price Target4.62 (393.22%)
Short Float %15.28%
Short Ratio1.52
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)0.82%
PT rev (3m)10.84%
EPS NQ rev (1m)-100%
EPS NQ rev (3m)-233.33%
EPS NY rev (1m)-250%
EPS NY rev (3m)-167.74%
Revenue NQ rev (1m)1.12%
Revenue NQ rev (3m)-21.07%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-6.35%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 2.62
P/FCF N/A
P/OCF N/A
P/B 0.83
P/tB 0.84
EV/EBITDA 11.08
EPS(TTM)-0.14
EYN/A
EPS(NY)-0.07
Fwd EYN/A
FCF(TTM)-0.89
FCFYN/A
OCF(TTM)-0.26
OCFYN/A
SpS0.36
BVpS1.13
TBVpS1.12
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 3.92
F-Score3
WACC9.63%
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 Year100.05%
Revenue Next 2Y83.76%
Revenue Next 3Y59.6%
Revenue Next 5Y34.17%
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