Marathon Digital Intrinsic Value – MARATHON DIGITAL Reports 675.4% Revenue Increase for FY2023 Q3, Totaling USD 97.8 Million
November 22, 2023
☀️Earnings Overview
For the third quarter ending September 30 2023, MARATHON DIGITAL ($NASDAQ:MARA) reported total revenue of USD 97.8 million – an increase of 675.4% from the same quarter in the prior year. Net income for the quarter was USD 64.1 million, showing a 185.0% jump from the year before.
Analysis – Marathon Digital Intrinsic Value
GoodWhale conducted a thorough financial analysis of MARATHON DIGITAL‘s performance. Our proprietary Valuation Line estimated the intrinsic value of MARATHON DIGITAL’s share to be around $32.3. Despite this, the stock is currently trading at $8.6, representing an undervaluation of 73.3%. This represents an immense buying opportunity for those interested in investing in this company. GoodWhale’s analysis suggests that the stock is severely underpriced and could be a great investment for those looking to take advantage of the current pricing. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Marathon Digital. More…
| Total Revenues | Net Income | Net Margin |
| 259.16 | -348.67 | -47.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Marathon Digital. More…
| Operations | Investing | Financing |
| -317.23 | -22.03 | 376.32 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Marathon Digital. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.38k | 363.83 | 4.82 |
Key Ratios Snapshot
Some of the financial key ratios for Marathon Digital are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 406.8% | – | -136.3% |
| FCF Margin | ROE | ROA |
| -140.6% | -27.1% | -16.0% |
Peers
As the cryptocurrency market continues to grow, so does the competition among mining companies. Marathon Digital Holdings Inc is up against some stiff competition from the likes of Hut 8 Mining Corp, Bit Digital Inc, and HIVE Blockchain Technologies Ltd. All three companies are vying for a piece of the pie, and each has its own strengths and weaknesses. It will be interesting to see how this competition plays out in the coming months and years.
– Hut 8 Mining Corp ($TSX:HUT)
Hut 8 Mining Corp is a cryptocurrency mining and blockchain infrastructure company. The Company has a portfolio of 24,490 bitcoin mining machines. Hut 8 Mining Corp was founded in 2017 and is headquartered in Toronto, Canada.
– Bit Digital Inc ($NASDAQ:BTBT)
The company has a market cap of $87.42M and a ROE of -12.65%. The company is engaged in the business of providing digital marketing and advertising services. The company has a portfolio of products and services that helps businesses to reach their target audiences. The company offers a suite of tools that helps businesses to create, manage, and track their digital marketing campaigns.
– HIVE Blockchain Technologies Ltd ($TSXV:HIVE)
HIVE Blockchain Technologies Ltd is a cryptocurrency mining company that operates mining facilities for cryptocurrencies, primarily for Ethereum. The company is based in Vancouver, Canada. The company went public on the TSX Venture Exchange in September 2017. In 2018, the company acquired a majority stake in a Swedish cryptocurrency mining company, Cryptomine.
Summary
MARATHON DIGITAL released their financial results for the third quarter of fiscal year 2023 with total revenue reaching USD 97.8 million, representing an impressive 675.4% surge compared to the same quarter of the previous year. Net income increased by a remarkable 185.0%, reaching USD 64.1 million. Despite these standout numbers, the stock price dropped on the same day, indicating investors may be cautious of the company’s future performance. It is important to further analyze MARATHON DIGITAL’s financials and business prospects in order to form an informed opinion about investing in the company.
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