TeraWulf Inc.

DB:ZT8 Stock Report

Market Cap: €9.8b

TeraWulf Valuation

Is ZT8 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of ZT8 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: Insufficient data to calculate ZT8's future cash flow value for valuation analysis.

Significantly Below Future Cash Flow Value: Insufficient data to calculate ZT8's future cash flow value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ZT8?

Key metric: As ZT8 barely has revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for ZT8. This is calculated by dividing ZT8's market cap by their current book value.
What is ZT8's PB Ratio?
PB Ratio-146.3x
Book-US$78.77m
Market CapUS$11.52b

Price to Book Ratio vs Peers

How does ZT8's PB Ratio compare to its peers?

The above table shows the PB ratio for ZT8 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average9x
NEM Nemetschek
7x16.19%€7.1b
AOF ATOSS Software
12.3x12.18%€1.2b
1INN innoscripta
12.6x20.92%€678.0m
TMV TeamViewer
4.2x7.53%€899.9m
ZT8 TeraWulf
n/a101.66%€11.5b

Price-To-Book vs Peers: ZT8 has negative equity and a Price-To-Book Ratio (-146.3x) compared to the peer average (9x).

Historical Price to Book Ratio

Historical Price to Book Ratio compares a stock's price to the book value of it's equity over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Book Ratio vs Industry

How does ZT8's PB Ratio compare vs other companies in the DE Software Industry?

5 CompaniesPrice / BookEstimated GrowthMarket Cap
OSP2 USU Software
0.4xn/aUS$98.14m
CLIQ Cliq Digital
0.3x43.37%US$24.98m
UMD UMT United Mobility Technology
0.1xn/aUS$760.38k
9R6 Scape Technologies
0.4xn/aUS$256.04k
ZT8 is unprofitableIndustry Avg. 2.0xNo. of Companies6PB0246810+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: ZT8 has negative equity and a Price-To-Book Ratio (-146.3x) compared to the German Software industry average (2x).

Price to Book Ratio vs Fair Ratio

What is ZT8's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ZT8 PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio-146.3x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate ZT8's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ZT8 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€19.73
€25.85
+31.01%
16.78%€35.31€21.27n/a12
May ’27€18.33
€23.54
+28.44%
18.71%€35.40€18.77n/a13
Apr ’27€12.45
€22.09
+77.46%
16.92%€31.86€17.22n/a14
Mar ’27€13.65
€21.49
+57.43%
16.91%€31.30€16.92n/a13
Feb ’27€11.05
€18.61
+68.37%
12.89%€21.88€14.31n/a12
Jan ’27n/a
€18.82
0%
12.89%€22.13€14.47n/a12
Dec ’26n/a
€18.50
0%
20.44%€22.44€8.20n/a13
Nov ’26n/a
€18.36
0%
19.64%€22.42€8.19n/a13
Oct ’26n/a
€11.03
0%
27.59%€18.44€5.57n/a11
Sep ’26n/a
€10.43
0%
19.19%€12.84€5.56n/a11
Aug ’26n/a
€6.22
0%
17.38%€8.66€5.19n/a11
Jul ’26n/a
€5.86
0%
24.28%€8.54€3.42n/a11
Jun ’26n/a
€5.88
0%
27.09%€8.86€3.54n/a11
May ’26n/a
€6.42
0%
30.57%€8.86€3.54€18.3310
Apr ’26n/a
€7.90
0%
21.32%€9.24€3.70€12.4510
Mar ’26n/a
€9.16
0%
8.95%€10.12€7.23€13.659
Feb ’26n/a
€9.37
0%
10.45%€10.48€7.15€11.059
Jan ’26n/a
€9.55
0%
7.31%€10.58€8.65n/a8
Dec ’25n/a
€9.30
0%
9.97%€10.56€7.68n/a8
Nov ’25n/a
€6.48
0%
20.50%€9.21€4.60n/a8
Oct ’25n/a
€5.92
0%
29.86%€9.02€2.71n/a8
Sep ’25n/a
€5.94
0%
31.35%€8.94€2.68n/a7
Aug ’25n/a
€6.30
0%
31.76%€9.21€2.76n/a6
Jul ’25n/a
€5.64
0%
32.62%€8.41€2.80n/a6
Jun ’25n/a
€3.34
0%
13.40%€3.88€2.77n/a6
May ’25n/a
€3.33
0%
13.40%€3.87€2.76n/a6
€25.62
Fair Value
23.0% undervalued intrinsic discount
12
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/11 14:18
End of Day Share Price 2026/05/08 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

TeraWulf Inc. is covered by 15 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Pierre-Marie D'OrnanoArete Research Services LLP
Martin TonerATB Cormark
Nicholas GilesB. Riley Securities, Inc.