CleanSpark, Inc.

NasdaqCM:CLSK Stock Report

Market Cap: US$3.3b

CleanSpark Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • 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 CLSK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CLSK ($15.1) is trading below our estimate of fair value ($70.21)

Significantly Below Fair Value: CLSK is trading below fair value by more than 20%.

Key Valuation Metric

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

Key metric: As CLSK is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for CLSK. This is calculated by dividing CLSK's market cap by their current revenue.
What is CLSK's PS Ratio?
PS Ratio11.4x
SalesUS$342.21m
Market CapUS$3.35b

Price to Sales Ratio vs Peers

How does CLSK's PS Ratio compare to its peers?

The above table shows the PS ratio for CLSK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average8.9x
YOU Clear Secure
3.4x10.8%US$3.6b
BRZE Braze
7.4x16.9%US$3.9b
MARA MARA Holdings
14x26.8%US$7.8b
ESMT EngageSmart
10.6x20.5%US$3.9b
CLSK CleanSpark
11.4x37.2%US$3.3b

Price-To-Sales vs Peers: CLSK is expensive based on its Price-To-Sales Ratio (11.4x) compared to the peer average (8.9x).

Price to Sales Ratio vs Industry

How does CLSK's PS Ratio compare vs other companies in the US Software Industry?

81 CompaniesPrice / SalesEstimated GrowthMarket Cap
VYX NCR Voyix
0.6x-23.2%US$2.13b
PGY Pagaya Technologies
0.7x15.8%US$704.88m
XPER Xperi
0.8x1.8%US$390.02m
EGHT 8x8
0.6x1.1%US$385.45m
CLSK 11.4xIndustry Avg. 5.3xNo. of Companies81PS048121620+
81 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: CLSK is expensive based on its Price-To-Sales Ratio (11.4x) compared to the US Software industry average (5.3x).

Price to Sales Ratio vs Fair Ratio

What is CLSK'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.

CLSK PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio11.4x
Fair PS Ratio11x

Price-To-Sales vs Fair Ratio: CLSK is expensive based on its Price-To-Sales Ratio (11.4x) compared to the estimated Fair Price-To-Sales Ratio (11x).

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 CLSK forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$15.10
US$22.08
+46.2%
27.8%US$30.00US$10.50n/a6
Nov ’25US$10.33
US$22.08
+113.9%
27.8%US$30.00US$10.50n/a6
Oct ’25US$8.61
US$22.08
+156.5%
27.8%US$30.00US$10.50n/a6
Sep ’25US$10.69
US$23.08
+115.9%
26.9%US$30.00US$10.50n/a6
Aug ’25US$15.09
US$24.25
+60.7%
23.9%US$30.00US$12.50n/a6
Jul ’25US$17.92
US$24.08
+34.4%
23.6%US$30.00US$12.50n/a6
Jun ’25US$16.07
US$23.33
+45.2%
21.2%US$30.00US$15.00n/a6
May ’25US$15.65
US$23.33
+49.1%
21.2%US$30.00US$15.00n/a6
Apr ’25US$18.58
US$23.17
+24.7%
22.6%US$30.00US$14.00n/a6
Mar ’25US$17.86
US$15.03
-15.8%
36.8%US$27.00US$10.00n/a6
Feb ’25US$8.36
US$11.87
+41.9%
18.8%US$14.20US$8.00n/a6
Jan ’25US$11.03
US$11.87
+7.6%
18.8%US$14.20US$8.00n/a6
Dec ’24US$7.64
US$10.05
+31.5%
26.7%US$14.00US$5.30n/a6
Nov ’24US$4.14
US$9.97
+140.7%
27.3%US$14.00US$5.30US$10.336
Oct ’24US$3.81
US$11.25
+195.3%
14.6%US$14.00US$10.00US$8.614
Sep ’24US$4.57
US$11.25
+146.2%
14.6%US$14.00US$10.00US$10.694
Aug ’24US$5.84
US$9.50
+62.7%
22.9%US$12.00US$6.00US$15.094
Jul ’24US$4.29
US$8.00
+86.5%
30.6%US$12.00US$6.00US$17.924
Jun ’24US$4.32
US$8.00
+85.2%
30.6%US$12.00US$6.00US$16.074
May ’24US$3.42
US$7.75
+126.6%
34.6%US$12.00US$5.00US$15.654
Apr ’24US$2.78
US$7.50
+169.8%
38.3%US$12.00US$5.00US$18.584
Mar ’24US$2.58
US$7.50
+190.7%
38.3%US$12.00US$5.00US$17.864
Feb ’24US$3.24
US$8.00
+146.9%
38.5%US$12.00US$5.00US$8.364
Jan ’24US$2.04
US$8.00
+292.2%
38.5%US$12.00US$5.00US$11.034
Dec ’23US$2.30
US$9.33
+305.8%
26.7%US$12.00US$6.00US$7.643
Nov ’23US$3.26
US$9.33
+186.3%
26.7%US$12.00US$6.00US$4.143

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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