Company Valuation: Riot Platforms, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,603 567.1 3,195 3,393 4,711 6,993 - -
Change - -78.21% 463.32% 6.21% 38.84% 48.45% - -
Enterprise Value (EV) 1 2,603 567.1 3,195 3,139 5,242 7,318 8,949 10,169
Change - -78.21% 463.32% -1.73% 66.97% 39.62% 22.28% 13.63%
P/E -279x -0.93x -55.3x 30x -6.5x -6.91x -14.7x -16.8x
PBR 1.92x - - 1.12x 1.51x 3.55x 14.1x -116x
PEG - -0x 0.6x -0x 0x -0.2x 0.3x 1.4x
Capitalization / Revenue 12.2x 2.19x 11.4x 9.01x 7.28x 10.4x 8.55x 5.49x
EV / Revenue 12.2x 2.19x 11.4x 8.33x 8.1x 10.8x 10.9x 7.98x
EV / EBITDA 31.6x -8.44x 14.9x 6.78x 405x -31.5x 56.9x 22.4x
EV / EBIT -116x -1.24x -50.7x 20.4x -8.43x -8.48x -26x -61.2x
EV / FCF -11.1x - -19.9x -6.34x -6.77x -6.12x -4.72x -4.24x
FCF Yield -8.97% - -5.03% -15.8% -14.8% -16.3% -21.2% -23.6%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -0.08 -3.65 -0.28 0.34 -1.95 -2.697 -1.266 -1.109
Distribution rate - - - - - - - -
Net sales 1 213.2 259.2 280.7 376.7 647.4 675.4 818.1 1,274
EBITDA 1 82.42 -67.19 214 463.2 12.96 -232.7 157.3 453.9
EBIT 1 -22.36 -457.3 -63.05 153.6 -622.2 -863.5 -343.9 -166.2
Net income 1 -7.926 -509.6 -49.47 109.4 -663.2 -915.4 -459.7 -412.3
Net Debt 1 - - - -253.6 531 325.5 1,956 3,176
Reference price 2 22.33 3.39 15.47 10.21 12.67 18.64 18.64 18.64
Nbr of stocks (in thousands) 116,583 167,297 206,515 332,326 371,807 375,259 - -
Announcement Date 16/3/22 2/3/23 22/2/24 24/2/25 2/3/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-6.91x10.84x-31.46x-.--% 6.99B
-15.2x39.33x-42.37x - 9.94B
-4.62x40.37x164.31x - 7.39B
-31.38x21.01x50.32x - 7.26B
-11.37x43.3x-450.54x-.--% 6.3B
-2.08x4.94x-3.38x-.--% 4.04B
-2.76x7.33x-6.98x-.--% 2.91B
-6.12x15.91x-23.62x - 1.92B
-2.84x - - - 741M
Average -9.25x 22.88x -42.96x 0% 5.28B
Weighted average by Cap. -11.86x 27.00x -42.31x 0%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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  4. Valuation Riot Platforms, Inc.