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Cipher Digital Inc.(CIFR)

F

Financial data as of Dec 31, 2025Declining · Crypto Related

FCF Margin-313.6%Free Cash Flow / Revenue
Cash Conversion25.3%Operating CF / Net Income
Free Cash Flow-$702.2M
Revenue$223.9M
Net Cash-$2.1BNet debt position
Debt / FCFN/AElevated debt burden
Current Ratio3.79Adequate short-term liquidity
YoY FCF Growth-173.2%0 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseF
→
-1Negative FCF in 4 of last 4 quarters
→
-1Low cash conversion rate (25%)
→
-1Significant YoY FCF decline (-173.2%)
→
-1Only 0 positive quarters recently
→
FinalF

Analysis Summary

Strengths

  • Strong liquidity (current ratio: 3.79)

Concerns

  • Negative FCF margin (-313.6%)
  • Weak cash conversion (25%)
  • Net debt position ($2.1B)
  • Only 0 positive FCF quarters recently
  • Significant YoY FCF decline (-173.2%)

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin-313.6%
Net Margin-367.2%
Operating CF Margin-92.9%
CapEx Ratio220.7%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$2.1BNet debt position
Debt / FCFN/AElevated debt burden
Current Ratio3.79Strong liquidity
Debt / Equity3.44High leverage

Quarterly FCF Trend

-173.2% YoYDeclining (-173.2%)

Free cash flow per quarter

Sector Comparison — Crypto Related

FCF Margin ranked against sector peers

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Detailed Metrics

Company NameCipher Digital Inc.
SectorCrypto Related
Free Cash Flow-$702.2M
Revenue$223.9M
Net Income-$822.2M
Operating Cash Flow-$207.9M
Capital Expenditure$494.2M
FCF Margin-313.6%
Cash Conversion Rate25.3%
Net Margin-367.2%
Total Debt$2.8B
Total Cash$628.3M
Net Cash-$2.1B
Current Ratio3.79
Debt / Equity3.44
Debt / FCFN/A
YoY FCF Growth-173.2%
Positive Quarters0 of 5
Trend DirectionDeclining
Report DateDec 31, 2025
GradeF
Data SourceYahoo Finance

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