Cipher Mining Valuation
Is CIFR * undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
3/6Valuation Score 3/6
Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast
Share Price vs Fair Value
What is the Fair Price of CIFR * when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: CIFR * (MX$124) is trading below our estimate of fair value (MX$997.35)
Significantly Below Fair Value: CIFR * is trading below fair value by more than 20%.
Key Valuation Metric
Which metric is best to use when looking at relative valuation for CIFR *?
Key metric: As CIFR * is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.
| What is CIFR *'s PS Ratio? | |
|---|---|
| PS Ratio | 12.8x |
| Sales | US$152.47m |
| Market Cap | US$2.24b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 14.7x |
| Enterprise Value/EBITDA | 63.9x |
| PEG Ratio | n/a |
Price to Sales Ratio vs Peers
How does CIFR *'s PS Ratio compare to its peers?
| Company | Forward PS | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 20.2x | ||
WULF TeraWulf | 19.8x | 58.2% | US$2.7b |
IREN Iris Energy | 9.6x | 37.2% | US$2.0b |
CLSK CleanSpark | 9.8x | 37.2% | US$3.9b |
SOUN SoundHound AI | 41.8x | 54.7% | US$3.0b |
CIFR * Cipher Mining | 12.8x | 57.1% | Mex$2.2b |
Price-To-Sales vs Peers: CIFR * is good value based on its Price-To-Sales Ratio (12.8x) compared to the peer average (20.2x).
Price to Sales Ratio vs Industry
How does CIFR *'s PS Ratio compare vs other companies in the Global Software Industry?
| 243 Companies | Price / Sales | Estimated Growth | Market Cap |
|---|---|---|---|
| 243 Companies | Estimated Growth | Market Cap | |
|---|---|---|---|
Price-To-Sales vs Industry: CIFR * is expensive based on its Price-To-Sales Ratio (12.8x) compared to the Global Software industry average (3.2x).
Price to Sales Ratio vs Fair Ratio
What is CIFR *'s PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
| Fair Ratio | |
|---|---|
| Current PS Ratio | 12.8x |
| Fair PS Ratio | n/a |
Price-To-Sales vs Fair Ratio: Insufficient data to calculate CIFR *'s Price-To-Sales 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?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | Mex$124.00 | Mex$165.34 +33.3% | 18.1% | Mex$223.44 | Mex$121.88 | n/a | 10 |
| Nov ’25 | n/a | Mex$152.42 0% | 20.3% | Mex$220.18 | Mex$120.10 | n/a | 10 |
| Oct ’25 | n/a | Mex$145.64 0% | 15.9% | Mex$176.77 | Mex$117.85 | n/a | 10 |
| Sep ’25 | Mex$75.00 | Mex$150.19 +100.2% | 13.6% | Mex$173.99 | Mex$115.99 | n/a | 8 |
| Aug ’25 | Mex$104.50 | Mex$125.02 +19.6% | 17.9% | Mex$163.58 | Mex$90.88 | n/a | 7 |
| Jul ’25 | n/a | Mex$121.71 0% | 19.8% | Mex$166.39 | Mex$92.44 | n/a | 6 |
| Jun ’25 | n/a | Mex$97.34 0% | 14.6% | Mex$125.15 | Mex$83.43 | n/a | 6 |
| May ’25 | n/a | Mex$97.05 0% | 20.2% | Mex$137.01 | Mex$77.07 | n/a | 6 |
| Apr ’25 | n/a | Mex$94.20 0% | 20.2% | Mex$132.99 | Mex$74.81 | n/a | 6 |
| Mar ’25 | n/a | Mex$96.71 0% | 20.2% | Mex$136.53 | Mex$76.80 | n/a | 6 |
| Feb ’25 | n/a | Mex$98.18 0% | 19.0% | Mex$134.65 | Mex$75.74 | n/a | 6 |
| Jan ’25 | n/a | Mex$93.09 0% | 13.1% | Mex$107.24 | Mex$75.96 | n/a | 6 |
| Dec ’24 | n/a | Mex$93.09 0% | 13.1% | Mex$107.24 | Mex$75.96 | n/a | 6 |
| Nov ’24 | n/a | Mex$91.23 0% | 15.3% | Mex$109.47 | Mex$72.98 | n/a | 6 |
| Oct ’24 | n/a | Mex$89.62 0% | 12.0% | Mex$102.42 | Mex$76.82 | n/a | 6 |
| Sep ’24 | n/a | Mex$87.43 0% | 11.4% | Mex$102.86 | Mex$77.15 | Mex$75.00 | 5 |
| Aug ’24 | n/a | Mex$75.99 0% | 24.3% | Mex$101.32 | Mex$50.66 | Mex$104.50 | 5 |
| Jul ’24 | n/a | Mex$62.62 0% | 13.6% | Mex$69.58 | Mex$52.18 | n/a | 5 |
| Jun ’24 | n/a | Mex$62.14 0% | 14.3% | Mex$71.02 | Mex$53.27 | n/a | 4 |
| May ’24 | n/a | Mex$62.75 0% | 14.3% | Mex$71.71 | Mex$53.79 | n/a | 4 |
| Apr ’24 | n/a | Mex$53.82 0% | 4.9% | Mex$55.67 | Mex$50.10 | n/a | 3 |
| Mar ’24 | n/a | Mex$52.64 0% | 5.3% | Mex$55.41 | Mex$49.87 | n/a | 2 |
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.