NASDAQ: MARA
Marathon Digital Holdings, Inc.
Financial Services · Financial - Capital Markets
Market Cap
$4.19B
52w High
$23.45
52w Low
$6.66
P/E
-2.00
Volume
21.05M
Outstanding Shares
381.27M
Price vs Fundamentals
Why The Stock Is Moving
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
What changed
The stock fell 30.97% over the last year. Revenue grew 23.08% over the trailing twelve months. Operating margin moved from -85.76% to 16.9%. Free cash flow declined 4.11% over the trailing twelve months.
What the market seems to be pricing
Visible fundamentals weakened far less than the stock price, and the shares now sit around the 0th percentile of their historical P/E range. That looks more like a rerating of the multiple than a collapse in the business.
What would invalidate this read
This read changes if operating margin (currently 16.9%) continues to decline, or if revenue growth turns negative. The bull case requires the business to hold its current trajectory.
Company profile
MARA Holdings, Inc. is a digital asset technology company, which engages in mining cryptocurrencies with a focus on the Bitcoin ecosystem.
Valuation
Stock splits
Every 4 shares became 1
Every 4 shares became 1
Every 1 shares became 2
Every 13 shares became 1
Profitability & growth
Standard profitability metrics can be misleading for financial/insurance companies. GAAP requires unrealized investment gains/losses in net income (affecting ROE), and margins are blended across diverse business segments.
Analyst consensus
10
Buy
9
Hold
1
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Aug 6, 2026
Q3 FY26 · EPS est $0.17 · Revenue est $209.44M
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