Marathon Digital Holdings, Inc. MARA NASDAQ

NASDAQ Capital Marke • Financial Services • Financial - Capital Markets • US • USD

SharesGrow Score

48/100

2/7 Pass

SharesGrow Intrinsic Value

Income Statement Balance Sheet Cash Flow Statement

Annual Quarterly

Marathon Digital Holdings, Inc. (MARA) generated $94.72M in operating cash flow for fiscal year 2025. After capital expenditures of $407.07M, free cash flow was $-312.35M.

Free cash flow margin was -34.4% of revenue. Cash conversion ratio was -20.16x, suggesting some earnings are non-cash.

The company returned $46.92M in share buybacks to shareholders during the period.

Criteria supported by this page:

HEALTH (33/100, Fail) — weak cash flow raises concerns about debt servicing
MOAT (20/100, Fail) — limited free cash flow weakens the competitive position
INCOME (10/100) — Cash conversion ratio was -20.16x suggests some earnings are non-cash items

Overall SharesGrow Score: 48/100 with 2/7 criteria passed.

SharesGrow 7-Criteria Score

48/100

SG Score

View full scorecard →

✓

VALUE

100/100

Price-to-Earnings & upside

→ Valuation

✓

FUTURE

64/100

Analyst consensus

→ Forecast

PAST

50/100

→ Income

✗

HEALTH

33/100

Debt-to-Equity & liquidity

Proven by this page

✗

MOAT

20/100

Proven by this page

GROWTH

58/100

→ Income

✗

INCOME

10/100

→ Income

Marathon Digital Holdings, Inc. Cash Flow History

Metric	TTM	FY2025	FY2024	FY2023	FY2022
Operating Cash Flow	$94.72M	$94.72M	$-677.02M	$-315.65M	$-176.48M
Capital Expenditure	$-407.07M	$-407.07M	$-253.46M	$-27.61M	$-41.11M
Free Cash Flow	$-312.35M	$-312.35M	$-930.48M	$-343.26M	$-217.59M