Terawulf Inc.
WULF Nasdaq· Finance Services
Last close · Oct 26, 2026
$11.98
KIRA · Stoqly’s AI analyst, in plain words
- Terawulf Inc. had $168M of revenue in fiscal 2025, up 20.3% on the year before. Over five years, revenue changed +65.8% a year on average.
- Its operating margin was −110.5%, down 56.1 pts: of every 100 in sales, about −111 is left after running the business.
- Terawulf Inc. lost $661M in fiscal 2025.
- Free cash flow was −$1.2B in fiscal 2025, −702.5% of revenue.
- Terawulf Inc. returned $33.3M to shareholders in fiscal 2025. The diluted share count rose 13.2%.
- Terawulf Inc. has $168M more cash than debt.
Market cap
$5.8B
P/E
—
Revenue
$168M
Net income
−$661M
Free cash flow
−$1.2B
Operating margin
−110.5%
Terawulf Inc. in 30 seconds · fiscal 2025
Are sales growing?
+20.3%
Yes. Sales grew 20.3% last year.
Does it make a profit?
−392.6%
No. It lost money last year.
Does profit turn into cash?
−702.5%
No. It spent more cash than it brought in.
How healthy are the accounts?
1 / 9
Weak. It passes 1 of 9 health tests.
How is the share priced?
—
No P/E: it made no profit over the last four quarters.
What Terawulf Inc. does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 27, 2026
- Legal name
- TERAWULF INC.
- CIK
- 0001083301
Terawulf Inc. · WULF
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY20 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $13.4M | — | $69.2M | $140M | $168M |
| Revenue growth | −23.8% | — | — | 102.3% | 20.3% |
| Gross margin | 29.1% | — | 53.5% | 49.8% | 39.2% |
| Operating margin | −13.3% | — | −42.5% | −54.4% | −110.5% |
| Net income | −$0.4M | — | −$73.4M | −$72.4M | −$661M |
| Net margin | −3.3% | — | −106.1% | −51.7% | −392.6% |
| Diluted EPS | −$0.22 | — | −$0.35 | −$0.21 | −$1.66 |
| Cash | |||||
| Cash from operations | −$0.4M | — | $4.3M | −$24.4M | −$123M |
| Capital expenditure | $0.1M | — | $75.2M | $268M | $1.1B |
| Free cash flow | −$0.5M | — | −$70.9M | −$292M | −$1.2B |
| FCF margin | −4.1% | — | −102.4% | −208.8% | −702.5% |
| Share buybacks | — | — | $0.0M | $118M | $33.3M |
| Share count change | −0.2% | — | — | 67.3% | 13.2% |
| Debt and strength | |||||
| Cash and short-term investments | $3.7M | $1.3M | $54.4M | $274M | $3.3B |
| Debt incl. finance leases | $2.7M | $125M | $124M | $0.3M | $3.1B |
| Shareholders' equity | $11.8M | $118M | $222M | $244M | $140M |
| Current ratio | 2.2x | 0.1x | 0.4x | 5.4x | 2.0x |
| Interest coverage | −20.6x | — | −0.8x | −3.9x | −2.3x |
| Returns and quality | |||||
| Return on capital | −13.0% | — | −8.0% | — | — |
| Return on equity | −3.6% | — | −43.2% | −31.0% | −343.7% |
| Return on tangible equity | −3.8% | — | −33.5% | −29.6% | −778.2% |
| Piotroski F-score | 3 | — | — | 4 | 1 |
| Altman Z'' | 6.3 | — | −2.9 | 0.4 | 1.1 |
Insiders bought, 12 months
$0.4M
1 insider
Insiders sold, 12 months
$36.1M
4 insiders
Of sales under plans
52%
$18.9M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Terawulf Inc. · WULF
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $11.98 a share, the company is worth $5.8B.
Source: SEC EDGAR XBRL filings (CIK 0001083301). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.