| Snowflake Score | |
|---|---|
| Valuation | 2/6 |
| Future Growth | 0/6 |
| Past Performance | 2/6 |
| Financial Health | 4/6 |
| Dividends | 0/6 |
BITF Stock Overview
Bitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in North America.
Bitfarms Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | CA$1.93 |
| 52 Week High | CA$11.60 |
| 52 Week Low | CA$1.66 |
| Beta | 2.13 |
| 1 Month Change | -12.27% |
| 3 Month Change | -58.50% |
| 1 Year Change | -61.17% |
| 3 Year Change | n/a |
| 5 Year Change | n/a |
| Change since IPO | -12.27% |
Recent News & Updates
Is There Now An Opportunity In Bitfarms Ltd. (TSE:BITF)?
Bitfarms Ltd. ( TSE:BITF ), might not be a large cap stock, but it saw significant share price movement during recent...
Shareholder Returns
| BITF | CA Software | CA Market | |
|---|---|---|---|
| 7D | 14.9% | 7.5% | 0.3% |
| 1Y | -61.2% | -24.6% | -4.0% |
Return vs Industry: BITF underperformed the Canadian Software industry which returned -24.9% over the past year.
Return vs Market: BITF underperformed the Canadian Market which returned -4.1% over the past year.
Price Volatility
| BITF volatility | |
|---|---|
| BITF Average Weekly Movement | 13.2% |
| Software Industry Average Movement | 12.8% |
| Market Average Movement | 10.0% |
| 10% most volatile stocks in CA Market | 17.3% |
| 10% least volatile stocks in CA Market | 4.4% |
Stable Share Price: BITF is not significantly more volatile than the rest of Canadian stocks over the past 3 months, typically moving +/- 13% a week.
Volatility Over Time: BITF's weekly volatility (13%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2017 | 106 | Emi Grodzki | https://www.bitfarms.com |
Bitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in North America. It owns and operates server farms that primarily validates transactions on the Bitcoin Blockchain and earning cryptocurrency from block rewards and transaction fees. The company also provides electrician services to commercial and residential customers in Quebec, Canada.
Bitfarms Fundamentals Summary
| BITF fundamental statistics | |
|---|---|
| Market Cap | US$303.49m |
| Earnings (TTM) | US$34.25m |
| Revenue (TTM) | US$181.39m |
8.9x
P/E Ratio1.7x
P/S RatioIs BITF overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| BITF income statement (TTM) | |
|---|---|
| Revenue | US$181.39m |
| Cost of Revenue | US$72.54m |
| Gross Profit | US$108.85m |
| Other Expenses | US$74.59m |
| Earnings | US$34.25m |
Last Reported Earnings
Mar 31, 2022
Next Earnings Date
n/a
| Earnings per share (EPS) | 0.17 |
| Gross Margin | 60.01% |
| Net Profit Margin | 18.88% |
| Debt/Equity Ratio | 30.1% |
How did BITF perform over the long term?
See historical performance and comparisonValuation
Is BITF undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
2/6Valuation Score 2/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio
Key Valuation Metric
Which metric is best to use when looking at relative valuation for BITF?
Other financial metrics that can be useful for relative valuation.
| What is BITF's n/a Ratio? | |
|---|---|
| n/a Ratio | 0x |
| n/a | n/a |
| Market Cap | US$303.49m |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 2.1x |
| Enterprise Value/EBITDA | 4.3x |
| PEG Ratio | n/a |
Price to Earnings Ratio vs Peers
How does BITF's PE Ratio compare to its peers?
| BITF PE Ratio vs Peers |
|---|
| Company | PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 62.3x |
Price-To-Earnings vs Peers: BITF is good value based on its Price-To-Earnings Ratio (8.9x) compared to the peer average (62.3x).
Price to Earnings Ratio vs Industry
How does BITF's PE Ratio compare vs other companies in the Canadian Software Industry?
Price-To-Earnings vs Industry: BITF is good value based on its Price-To-Earnings Ratio (8.9x) compared to the Canadian Software industry average (52.7x)
Price to Earnings Ratio vs Fair Ratio
What is BITF's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 8.9x |
| Fair PE Ratio | n/a |
Price-To-Earnings vs Fair Ratio: Insufficient data to calculate BITF's Price-To-Earnings Fair Ratio for valuation analysis.
Share Price vs Fair Value
What is the Fair Price of BITF when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: Insufficient data to calculate BITF's fair value for valuation analysis.
Significantly Below Fair Value: Insufficient data to calculate BITF's fair value for valuation analysis.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate BITF's PEG Ratio to determine if it is good value.
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Future Growth
How is Bitfarms forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
Future Growth Score
0/6Future Growth Score 0/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE
29.7%
Forecasted Software industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Bitfarms has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
Discover growth companies
- Examine Bitfarms's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
- Bitfarms competitive advantages and company strategy can generally be found in its financial reports archived here.
Past Performance
How has Bitfarms performed over the past 5 years?
Past Performance Score
2/6Past Performance Score 2/6
Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE
12.1%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: BITF has a high level of non-cash earnings.
Growing Profit Margin: BITF became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: BITF has become profitable over the past 5 years, growing earnings by 12.1% per year.
Accelerating Growth: BITF has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: BITF has become profitable in the last year, making it difficult to compare its past year earnings growth to the Software industry (7.6%).
Return on Equity
High ROE: BITF's Return on Equity (7.5%) is considered low.
Discover strong past performing companies
Financial Health
How is Bitfarms's financial position?
Financial Health Score
4/6Financial Health Score 4/6
Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage
Financial Position Analysis
Short Term Liabilities: BITF's short term assets ($323.8M) exceed its short term liabilities ($142.8M).
Long Term Liabilities: BITF's short term assets ($323.8M) exceed its long term liabilities ($36.5M).
Debt to Equity History and Analysis
Debt Level: BITF's net debt to equity ratio (13.3%) is considered satisfactory.
Reducing Debt: Insufficient data to determine if BITF's debt to equity ratio has reduced over the past 5 years.
Debt Coverage: BITF's operating cash flow is negative, therefore debt is not well covered.
Interest Coverage: BITF's interest payments on its debt are well covered by EBIT (9.9x coverage).
Balance Sheet
Discover healthy companies
Dividend
What is Bitfarms's current dividend yield, its reliability and sustainability?
Dividend Score
0/6Dividend Score 0/6
Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage
Dividend Yield vs Market
Notable Dividend: Unable to evaluate BITF's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate BITF's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if BITF's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if BITF's dividend payments have been increasing.
Earnings Payout to Shareholders
Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: Unable to calculate sustainability of dividends as BITF has not reported any payouts.
Discover strong dividend paying companies
Management
How experienced are the management team and are they aligned to shareholders interests?
1.0yrs
Average management tenure
CEO
Emi Grodzki (45 yo)
2.25yrs
Tenure
US$6,758,998
Compensation
Mr. Emiliano Joel Grodzki, also known as Emi, has been the Chief Strategy Officer at Blockchain Mining Limited since March 7, 2018 and has also been its Director since February 19, 2018. Mr. Grodzki is a F...
CEO Compensation Analysis
Compensation vs Market: Emi's total compensation ($USD6.76M) is above average for companies of similar size in the Canadian market ($USD1.24M).
Compensation vs Earnings: Emi's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: BITF's management team is not considered experienced ( 1 years average tenure), which suggests a new team.
Board Members
Experienced Board: BITF's board of directors are considered experienced (3 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 25.6%.
Top Shareholders
Company Information
Bitfarms Ltd.'s employee growth, exchange listings and data sources
Key Information
- Name: Bitfarms Ltd.
- Ticker: BITF
- Exchange: TSX
- Founded: 2017
- Industry: Application Software
- Sector: Software
- Implied Market Cap: CA$392.012m
- Shares outstanding: 203.12m
- Website: https://www.bitfarms.com
Number of Employees
Location
- Bitfarms Ltd.
- 18 King Street East
- Suite 902
- Toronto
- Ontario
- M5C 1C4
- Canada
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/06/26 00:00 |
| End of Day Share Price | 2022/06/24 00:00 |
| Earnings | 2022/03/31 |
| Annual Earnings | 2021/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.