Riot Platforms, Inc. RIOT R2K

Financial Services · Capital Markets · United States

https://www.riotplatforms.com

Riot Platforms, Inc., together with its subsidiaries, operates as a Bitcoin mining company in the United States. It operates in two segments, Bitcoin Mining and Engineering. The company offers comprehensive and critical infrastructure for bitcoin mining and data center services at its facilities. The company also designs and manufactures power distribution equipment and engineered-to-order electrical products; and electricity distribution product design, manufacturing, and installation services for large-scale industrial and governmental customers, as well as data center, power generation, utility, water, industrial, and alternative energy markets. The company was founded in 2000 and is based in Castle Rock, Colorado.

Market & Price

Market Cap

$10.25B

Current Price

$27.11

High / Low (52W)

$27.74 / $8.07

Beta

3.74

Valuation

Stock P/E

Industry PE

12.01

Forward P/E

PEG Ratio

Book Value

$6.32

Price to Book

4.29

P/S

15.69

EV/EBITDA

-33.43

Dividend Yield

Profitability & Returns

ROCE

-18.44%

ROE

-32.49%

ROA

-12.11%

Profit Margin

Op Margin

EPS (Latest Qtr)

$-1.44

EPS (TTM)

$-2.49

Balance Sheet & Liquidity

Debt/Equity

0.37

Quick Ratio

0.67

Current Ratio

1.08

Debt

$877.19M

Total Assets

$3.94B

Current Assets

$448.71M

Working Capital

$-21.07M

Ownership

Promoter Holding

7.63%

Chg in Prom Hold

FII / Inst Holding

81.22%

Chg in FII Hold

0.03%

Financial Snapshot

Enterprise Value

$10.92B

Total Revenue (TTM)

$653.27M

EBITDA

$-326.71M

Free Cash Flow

$-445.85M

Operating Cash Flow

$-633.52M

Shares Outstanding

378.15M

Gross Margin

32.35%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

35.69%

Profit 5Y

-10.05%

Revenue (YoY)

3.60%

Earnings (YoY)

PROS

Compounding revenue at 35.7% over 5 years.
In a confirmed uptrend (50-DMA above 200-DMA).

CONS

Earnings shrank at -10.0% CAGR over 5 years.

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Financial Services).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	RIOT Riot Platforms, Inc. R2K	27.11	-	$10.25B	-	-18.44%	-32.49%	35.69%	-10.05%
2	JPM JPMorgan Chase & Co. SPX	299.31	14.33	$802.00B	2.00%	-	16.47%	12.50%	14.83%
3	V Visa Inc. SPX	326.36	28.48	$620.65B	0.82%	38.38%	60.35%	10.92%	10.28%
4	MA Mastercard Incorporated SPX	493.98	28.57	$436.47B	0.70%	61.47%	-	13.82%	14.66%
5	MS Morgan Stanley SPX	208.00	18.84	$328.08B	1.92%	-	16.39%	9.52%	15.20%
6	GS The Goldman Sachs Group, Inc. SPX	1,025.56	18.73	$302.55B	1.76%	-	14.55%	7.16%	15.11%
7	WFC Wells Fargo & Company SPX	77.54	11.98	$237.29B	2.32%	-	12.03%	4.02%	15.98%
8	BLK BlackRock, Inc. SPX	1,046.88	26.32	$162.51B	2.19%	4.89%	11.90%	10.65%	2.36%
9	SCHW The Charles Schwab Corporation SPX	87.35	17.37	$151.91B	1.47%	-	19.08%	4.83%	7.21%

Quarterly Results

Figures in USD.

Metric	Jun 2014	Sep 2014	Dec 2014	Mar 2015	Jun 2015	Sep 2015	Dec 2015	Mar 2016	Jun 2016	Sep 2016	Mar 2017	Jun 2017	Sep 2017	Mar 2018	Jun 2018	Sep 2018	Mar 2019	Jun 2019	Sep 2019	Mar 2020	Jun 2020	Sep 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	-	-	-	-	-	-	24.18K	24.17K	24.18K	925.55K	2.79M	2.37M	1.43M	2.47M	1.74M	2.39M	1.94M	2.46M	23.20M	34.35M	64.81M	79.79M	72.95M	46.29M	73.24M	76.74M	51.89M	79.30M	70.02M	-	-	161.39M	152.99M	180.23M	152.83M	167.22M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	95.59M	91.04M	109.47M	105.78M	135.68M
Gross Profit	-	24.00K	51.00K	7.28K	16.42K	42.56K	5.00K	-	-	356	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	65.80M	61.95M	70.76M	47.06M	31.54M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	141.57M	150.79M	122.13M	174.37M	152.89M
Operating Income	-2.60M	-2.54M	-	-2.21M	-1.99M	-1.59M	-	-1.38M	-871.75K	-1.51M	-1.03M	-1.07M	-590.50K	-19.44M	-23.88M	-6.46M	-3.22M	-1.37M	-1.89M	-4.41M	-11.97M	-2.11M	4.98M	-5.45M	-10.84M	38.86M	-353.24M	-35.88M	17.37M	-32.18M	-82.55M	203.94M	-117.04M	-	-	-75.78M	-88.84M	-51.37M	-127.32M	-121.35M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-215.70M	309.06M	197.15M	-582.89M	-399.83M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2.31M	6.09M	8.05M	7.69M	2.62M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-295.93M	219.77M	106.17M	-693.34M	-500.19M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	437.00K	320.00K	1.69M	-2.59M	291.00K
Net Income	-2.59M	-2.53M	-2.37M	-2.19M	-2.03M	-1.58M	-2.96M	559.51K	-835.88K	-1.71M	-4.35M	-1.31M	-5.30M	-16.35M	-24.02M	-6.23M	-13.53M	-1.28M	-1.83M	-4.28M	-10.59M	-1.72M	5.16M	19.01M	-22.04M	36.58M	-353.56M	-32.44M	18.51M	-27.39M	-80.04M	211.78M	-84.45M	-	-	-296.37M	219.45M	104.48M	-690.75M	-500.48M
Diluted EPS	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.15	-0.31	-0.04	0.06	0.21	-0.23	0.31	-2.71	-0.21	0.11	-0.16	-0.44	0.51	-0.32	-0.54	-	-0.90	0.58	0.26	-	-1.44
R&D Expense	950.15K	1.12M	-	707.74K	552.41K	426.26K	-	372.59K	73.08K	52.96K	17.69K	10.00K	17.66K	4.53K	10.00K	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	-	-	-	-	-	-	269.66K	7.84M	6.84M	12.08M	-	259.17M	280.68M	376.66M	647.43M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	193.70M	254.33M	262.75M	401.88M
Gross Profit	-419.33K	12.13K	203.07K	40.97K	34.88K	95.48K	70.80K	6.36K	-	-	-	-	-	65.47M	26.34M	113.90M	245.56M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	148.06M	281.49M	445.28M	588.86M
Operating Income	-15.55M	-13.45M	-10.98M	-8.96M	-12.10M	-10.40M	-8.75M	-5.19M	-13.15M	-59.37M	-9.42M	-15.54M	-	-82.58M	-255.14M	-331.38M	-343.30M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-412.04M	200.64M	324.18M	-292.38M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	1.31M	2.85M	1.99M	24.14M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-521.30M	-54.56M	110.14M	-663.33M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-11.75M	-5.09M	744.00K	-150.00K
Net Income	-15.52M	-13.34M	-10.21M	-9.21M	-12.15M	-10.44M	-8.76M	-4.27M	-19.85M	-58.01M	-20.04M	-14.11M	-	-509.55M	-49.47M	109.40M	-663.18M
Diluted EPS	-	-	-	-	-	-	-	-	-	-	-	-0.33	-	-3.65	-0.28	0.34	-1.95
R&D Expense	9.29M	6.11M	5.67M	3.84M	6.71M	4.03M	2.16M	249.16K	20.03K	-	-	-	-	-	-	-	-

Compounded Sales Growth

5 Years:	35.69%
1 Year:	3.60%

Compounded Profit Growth

5 Years:	-10.05%
1 Year:	-

Stock Price Performance

1 Year:	+235.94%
6 Months:	+88.39%
3 Months:	+66.42%
1 Month:	+69.65%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	-	17.16M	8.73M	16.61M	18.64M	28.72M	20.86M	17.04M	52.34M	13.86M	30.38M	280.15M	372.09M	902.23M	943.57M	-	1.54B	1.44B	1.45B	1.32B	2.05B	3.94B	3.94B
Current Assets	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	443.38M	1.01B	599.48M	448.71M
Cash & Equivalents	11.82M	13.37M	8.91M	2.97M	10.98M	5.66M	3.54M	2.01M	5.53M	41.65M	225.00K	7.44M	223.38M	241.01M	147.18M	57.88M	-	113.58M	270.48M	254.97M	230.33M	597.17M	277.86M	233.52M
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Receivables	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	26.93M	24.71M	27.12M	29.79M
Total Liabilities	-	-	5.91M	4.90M	5.92M	5.69M	5.04M	4.79M	2.12M	2.71M	9.37M	4.14M	3.08M	8.09M	192.21M	184.09M	-	162.07M	147.66M	154.25M	168.52M	163.06M	791.62M	1.08B
Current Liabilities	-	-	2.73M	2.07M	4.08M	2.25M	1.78M	1.79M	1.06M	1.04M	6.66M	3.37M	2.40M	7.43M	37.48M	25.57M	-	116.18M	100.57M	107.06M	121.54M	121.02M	160.38M	469.77M
Long Term Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	526.00K	584.31M	586.91M
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22.25M	22.13M	613.16M	866.76M
Total Equity	17.89M	12.81M	11.25M	3.83M	10.69M	12.95M	23.69M	16.07M	14.92M	48.87M	5.79M	26.24M	275.63M	-	-	-	-	-	-	-	1.15B	1.89B	3.14B	2.86B
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	167.75M	230.84M	344.89M	371.58M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	-11.36M	-10.71M	-8.33M	-5.49M	-9.73M	-	-5.52M	-4.44M	-19.05M	-15.41M	-2.85M	-	530.00K	33.09M	-255.05M	-572.93M
Investing Cash Flow	4.53M	-2.92M	1.61M	-316.12K	-7.63M	-	9.35M	5.58M	-24.86M	-3.25M	-41.13M	-	-354.86M	-414.77M	-1.51B	76.13M
Financing Cash Flow	8.38M	9.17M	782.16K	13.81M	12.04M	-	-311.11K	34.98M	2.49M	25.88M	259.92M	-	272.35M	748.52M	1.52B	455.29M
Capital Expenditure	-243.77K	-191.51K	-90.10K	-43.69K	-26.32K	-30.14K	-35.40K	-	-20.20M	-4.96M	-8.14M	-	-352.86M	-424.13M	-1.27B	-566.95M
Free Cash Flow	-11.61M	-10.90M	-8.42M	-5.53M	-9.76M	-	-5.56M	-	-39.25M	-20.37M	-10.99M	-	-352.33M	-391.05M	-1.52B	-1.14B
Net Change in Cash	-	-	-	-	-	-	-	-	-	-	-	-	-81.99M	366.84M	-245.87M	-41.51M
Share Buybacks	-	-	-	-	-	-	-	-	-	-	446.00K	5.08M	10.14M	14.04M	11.56M	4.29M
Dividends Paid	-	-	-	-	-	-	-	9.56M	-	-	-	-	-	-	-	-

Ratios (Annual)

Figures in %.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	-	-	-	-	-	-	25.3%	9.4%	30.2%	37.9%
Operating Margin %	-	-	-	-	-	-	-	-	-4,878.2%	-756.7%	-137.7%	-128.7%	-	-31.9%	-90.9%	-88.0%	-53.0%
Net Margin %	-	-	-	-	-	-	-	-	-7,359.7%	-739.4%	-293.1%	-116.8%	-	-196.6%	-17.6%	29.0%	-102.4%
ROE %	-121.1%	-118.6%	-267.0%	-86.2%	-93.8%	-44.1%	-54.5%	-28.6%	-40.6%	-1,002.4%	-76.4%	-5.1%	-	-44.3%	-2.6%	3.5%	-23.2%
ROCE %	-	-93.2%	-164.9%	-71.5%	-73.8%	-38.6%	-45.9%	-32.5%	-25.6%	-824.3%	-34.9%	-5.6%	-	-6.9%	-13.2%	-8.8%	-9.9%

Shareholding Pattern

Insiders

7.63%

Institutions

81.22%

Public Float

87.93%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Blackrock Inc.	7.84%	29.65M	$803.88M
2	Vanguard Portfolio Management LLC	5.73%	21.69M	$587.90M
3	Starboard Value LP	4.11%	15.54M	$421.41M
4	FMR, LLC	3.97%	15.01M	$407.05M
5	Vanguard Capital Management LLC	3.93%	14.87M	$402.99M
6	Situational Awareness Partners LP	3.04%	11.50M	$311.82M
7	Situational Awareness LP	3.04%	11.50M	$311.82M
8	Nomura Holdings Inc.	2.62%	9.91M	$268.53M
9	State Street Corporation	2.43%	9.19M	$249.13M
10	Geode Capital Management, LLC	2.37%	8.96M	$243.03M

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