Cipher Digital CIFR
United StatesTechnology · Information Technology ServicesUSD
30.48 USD (+109.3%)
22 analysts
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Cipher Digital Inc. is an information technology services company offering digital and cybersecurity solutions to enterprise clients, although its business model is currently in severe difficulty with sharply declining revenues and deeply negative margins.
Key points
from its scores- ✕Weak growth0.0
- ✕Unfavourable risk and backdrop0.0
- ✕Little competitive advantage0.2
AI analysis
bottom line, main risk, context and newsFundamentals are extremely weak, debt is unsustainable, and valuation offers no margin of safety; there are no visible catalysts to justify taking this risk.
Cipher Digital presents a critical financial profile: net debt to EBITDA of 49.49x, operating margin of -301.69%, ROE of -167.48%, and a 43% revenue decline, reflecting a deeply deteriorating business with no signs of recovery. Valuation is extremely expensive (forward P/E 110.46, P/S 31.62) and unjustified by any fundamental, posing a very high risk of capital loss.
The main risk is insolvency: with net debt to EBITDA of 49.49x, negative operating margin, and deeply negative free cash flow, the company may not survive without restructuring or a capital injection, especially in a rising interest rate environment that makes refinancing more expensive.
Context and risks
Cipher Digital Inc. operates in the information technology services sector in the United States, a country with a stable regulatory and governance framework. The main risk is not geopolitical or regulatory, but severe operational deterioration: operating margin of -301.69%, ROE of -167.48%, and net debt to EBITDA of 49.49x, reflecting a business model in extreme difficulty. Interest rate exposure is materially relevant given its very high leverage, but governance risk in the US is moderate and does not add a significant additional premium.
Is Cipher Digital stock cheap or expensive?
at the analysis dateOn EV / EBITDA, it trades 452% above the Technology median.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| EV / EBITDA | 112.6 | 20.4 | +452% |
| Price / book | 10.7 | 6.3 | +70% |
| Price / sales | 31.6 | 5.3 | +499% |
Sector: median of the 283 Technology companies analysed. In bold, the multiples used for the comparison.
Valuation score: 0.2 out of 10 (median for Technology: 5.3).
Average analyst target: 30.48 USD, +109.3% versus the price.
A premium can be justified if the company is of higher quality or grows faster than its sector: Quality / Moat 0.2 (sector 6.4), Growth 0.0 (sector 7.5).
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Technology medianValuation
- Forward P/E
- 110.5
- EV / EBITDA
- 112.6
- Price / book
- 10.7
- Price / sales
- 31.6
- Market cap
- 6.0B USD
- Enterprise value
- 10.8B USD
Profitability
- ROE
- −167.5%
- ROA
- −0.8%
- ROIC (approx.)
- −9.4%
- Gross margin
- −10.0%
- Operating margin
- −301.7%
- Net margin
- 0.0%
- Free cash flow
- −2.9B USD
- FCF yield
- −48.0%
- Cash conversion
- −3,016%
Solvency
- Total debt
- 5.6B USD
- Net debt
- 4.8B USD
- Cash
- 831.8M USD
- EBITDA
- 96.1M USD
- Net debt / EBITDA
- 49.49
- Debt / equity
- 950.56
- Current ratio
- 3.00
- Quick ratio
- 0.62
Growth
- Revenue growth
- −43.0%
- EPS (TTM)
- −2.87 USD
- EPS (forward)
- 0.13 USD
Dividend
- Dividend yield
- 0.0%
- Payout
- 0.0%
Risk and market
- Beta
- 3.21
- Analyst consensus
- Strong buy (22)
- Target price
- 30.48 USD
- 52-week range
- 11.72 – 30.14
Recent news
All CIFR news →Compare it with its sector
All 283 in Technology →Frequently asked questions about Cipher Digital
Is Cipher Digital stock cheap or expensive?
On EV / EBITDA, it trades 452% above the Technology median. Valuation score: 0.2 out of 10 (median for Technology: 5.3). Average analyst target: 30.48 USD, +109.3% versus the price. This is not investment advice.
What score does Cipher Digital get on MeridIAn Screener?
It scores 0.9 out of 10, rank 2,127 of 2,130 (better than 0% of the companies analysed). Its strongest category is Momentum (6.0) and its weakest, Growth (0.0). Analysis of 08/10/2026.
How much is Cipher Digital worth on the stock market?
Its market capitalisation is 6.0B USD and its enterprise value, debt included, is 10.8B USD.
How much debt does Cipher Digital have?
Its net debt (debt minus cash) is 4.8B USD. That is 49.49 times its EBITDA; the Technology median is 0.20.
Does Cipher Digital pay a dividend?
It pays no dividend, or almost none.
How has Cipher Digital stock performed over the last year?
It has fallen 14.2% over the last year, excluding dividends. Over the last 52 weeks it has traded between 11.72 and 30.14 USD. Past performance does not guarantee future results.
What do analysts think of Cipher Digital?
22 analysts cover it; their average recommendation is “Strong buy” and their average target is 30.48 USD (+109.3% versus the price). It is an estimate, not market data.