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M

MARA Holdings MARA · USD

Information Technology · US listing · 🇺🇸 United States

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6.64

+4.57%

Close of 9 Nov 2026, in USD

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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.

At a glance

Figures in USD, from our data supplier.

FY2025

Revenue

$907.1m

FY2016FY2025

Net income

−$1.31bn

FY2016FY2025

Free cash flow

−$312.3m

FY2016FY2025

Shareholders' equity

$3.47bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue$907.1m$656.4m$387.5m$117.8m$159.2m$4.4m$1.2m$1.6m$519,622$36.6m
Gross profit−$432.9m−$159.4m−$15.3m−$33.7m$116.8m−$2.6m−$2.8m−$3.8m−$5.5m$4.6m
Research and development$30.1m$13.2m$2.8m$98,000——————
Operating income−$822.2m$306.1m$287.9m−$703.3m−$57.6m−$9.8m−$4.2m−$10.4m−$26.6m−$14.2m
Net income−$1.31bn$541.3m$261.2m−$694.0m−$37.1m−$10.4m−$3.5m−$12.8m−$31.3m−$28.7m
Diluted earnings per share-3.691.291.12-5.54-0.36-0.11-0.42-0.50-1.62-1.49

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assets$7.29bn$6.80bn$1.99bn$1.20bn$1.45bn$313.3m$6.6m$5.2m$15.1m$18.3m
Cash and short-term investments$547.1m$391.8m$357.3m$103.7m$492.3m$141.3m$692,963$2.6m$14.9m$5.0m
Total liabilities$3.81bn$2.67bn$375.1m$809.3m$765.2m$1.5m$3.0m$2.3m$7.7m$27.6m
Debt$3.60bn$2.45bn$326.0m$782.2m$728.4m$100,000$1.0m$1.0m$1.8m$19.3m
Shareholders' equity$3.47bn$4.13bn$1.62bn$385.9m$683.0m$311.7m$3.6m$2.9m$7.4m−$9.1m
Shares outstanding355m420m233m125m103m99m8m26m19m19m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operations$94.7m−$677.0m−$315.7m−$176.5m−$18.2m−$7.8m−$3.3m−$8.2m−$10.8m$10.2m
Capital spending−$407.1m−$253.5m−$27.6m−$41.1m−$708.9m−$83.4m−$5,225−$5.5m−$7,788−$3.7m
Free cash flow−$312.3m−$930.5m−$343.3m−$217.6m−$727.1m−$91.2m−$3.3m−$13.7m−$10.8m$6.5m
Dividends paid———−$81,000−$4.7m−$62,500————

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
Revenue$174.9m$174.6m$202.3m$252.4m$238.5m$213.9m$214.4m$131.6m
Gross profit−$144.6m−$162.4m−$241.1m$209.3m$196.8m$170.4m−$52.8m−$67.0m
Operating income−$252.5m−$248.9m−$331.8m$47.6m$679.8m−$541.1m$341.0m−$172.2m
Net income−$609.7m−$1.26bn−$1.71bn$123.1m$808.2m−$533.2m$528.5m−$124.8m
Diluted earnings per share-1.60-3.30-4.810.352.28-1.501.26-0.30
Cash from operations−$471.0m−$247.0m−$224.0m−$199.0m−$163.0m−$215.0m−$313.0m−$440.0m
Capital spending−$94.0m−$79.0m−$164.0m−$84.0m−$118.0m−$38.0m−$189.0m−$37.0m
Free cash flow−$565.0m−$326.0m−$388.0m−$283.0m−$281.0m−$253.0m−$502.0m−$477.0m
Total assets$4.35bn$4.95bn$7.29bn$9.15bn$7.72bn$6.44bn$6.80bn$3.58bn
Cash and short-term investments$421.3m$527.6m$547.1m$826.4m$109.5m$196.2m$391.8m$164.3m
Debt$2.42bn$2.42bn$3.60bn$3.60bn$2.60bn$2.60bn$2.45bn$619.2m
Shareholders' equity$1.66bn$2.23bn$3.47bn$5.16bn$4.79bn$3.72bn$4.13bn$2.86bn

Financial ratios

Data as of 24 Oct 2026

FY2025FY2024FY2023FY2022FY2021FY2020
Gross margin-47.7%-24.3%-4.0%-28.6%73.4%-58.7%
Operating margin-145.5%95.9%74.3%-597.2%-8.1%-239.3%
Net margin-144.6%82.5%67.4%-589.4%-23.3%-239.8%
Return on equity-37.8%13.1%16.2%-179.8%-5.4%-3.4%
Return on assets-18.0%8.0%13.1%-58.1%-2.6%-3.3%
Free cash flow yield20.1%-14.4%-17.6%-15.4%95.8%10.9%
Revenue growth38.2%69.4%229.1%-26.0%3553.0%267.6%
Earnings growth-342.3%107.2%-137.6%1770.9%255.1%197.1%
Current ratio1.27x4.94x30.51x10.63x49.89x198.38x
Debt to equity1.04x0.59x0.20x2.03x2.13x0.00x
Equity ratio47.6%60.7%81.2%32.3%47.2%99.5%
Interest coverage-27.28x48.44x27.82x-46.94x-8.25x-496.81x
R&D as a share of sales3.3%2.0%0.7%0.1%——
Buybacks as a share of market value15.4%-79.9%-86.3%-22.0%-3.9%-1068.1%

Growth per year

Compound annual rate

3 years5 years10 years
Revenue97.5%190.9%47.2%
Operating income5.3%142.4%41.4%
Net income23.6%162.9%54.5%

Average margins

Over each period

1 year3 years5 years10 years
Gross margin-37.9%-31.0%-23.6%-23.5%
Operating margin-33.0%-45.0%-44.7%-47.1%
Net margin-49.3%-58.2%-56.0%-58.7%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Price to earnings-2.413.021.0-0.6-90.9-98.7-2.1-2.9-10.1-6.8
Price to sales3.510.714.23.621.2236.86.323.5—5.3

Market value over time

30 Nov 2016 to 23 Oct 2026, in USD

$436.4m$2.68bn

Share price return

Finished calendar years

2025202420232022202120202019201820172016
Return-55%-2%468%-88%182%1098%-44%-92%124%9%

Dividends and splits

Per share, in the currency the company pays

Paid for 0 years.

  • 4-to-1 reverse split · 8 Apr 2019
  • 4-to-1 reverse split · 30 Oct 2017
  • 2-for-1 split · 23 Dec 2014
  • 13-to-1 reverse split · 22 Jul 2013
  • 1.3626-for-1 split · 13 Dec 2011

Sources and methodology

Data on this tab
Our data supplier
Chart on the Overview
TradingView

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