Hut 8 Valuation

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

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: Insufficient data to calculate HUT's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate HUT's fair value for valuation analysis.

Key Valuation Metric

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

Key metric: As HUT is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for HUT. This is calculated by dividing HUT's market cap by their current earnings.
What is HUT's PE Ratio?
PE Ratio	12x
Earnings	US$190.17m
Market Cap	US$2.37b

HUT key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	13.7x
Enterprise Value/EBITDA	10.8x
PEG Ratio	-0.2x

Price to Earnings Ratio vs Peers

How does HUT's PE Ratio compare to its peers?

The above table shows the PE ratio for HUT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	62.3x
CXM Sprinklr	39.2x	15.0%	US$2.0b
SEMR Semrush Holdings	177.9x	66.4%	US$2.1b
OPRA Opera	10.8x	1.4%	US$1.7b
SPNS Sapiens International	21.2x	6.4%	US$1.5b
HUT Hut 8	12x	-55.0%	US$2.4b

Price-To-Earnings vs Peers: HUT is good value based on its Price-To-Earnings Ratio (12x) compared to the peer average (50.7x).

Price to Earnings Ratio vs Industry

How does HUT's PE Ratio compare vs other companies in the US Software Industry?

11 Companies	Price / Earnings	Estimated Growth	Market Cap
AISP Airship AI Holdings	4.5x	-27.8%	US$74.21m
GRRR Gorilla Technology Group	2x	-67.4%	US$45.52m
NISN Nisun International Enterprise Development Group	2.1x	n/a	US$35.53m
NXTT Next Technology Holding	0.5x	n/a	US$19.19m

11 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: HUT is good value based on its Price-To-Earnings Ratio (12x) compared to the US Software industry average (41x).

Price to Earnings Ratio vs Fair Ratio

What is HUT'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.

HUT PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	12x
Fair PE Ratio	14.1x

Price-To-Earnings vs Fair Ratio: HUT is good value based on its Price-To-Earnings Ratio (12x) compared to the estimated Fair Price-To-Earnings Ratio (14.1x).

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 HUT forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	US$24.46	US$29.67 +21.3%	22.4%	US$35.00	US$15.00	n/a	6
Nov ’25	US$16.02	US$16.33 +2.0%	17.3%	US$22.00	US$13.50	n/a	6
Oct ’25	US$11.56	US$16.33 +41.4%	17.3%	US$22.00	US$13.50	n/a	6
Sep ’25	US$10.11	US$16.08 +59.1%	17.8%	US$22.00	US$13.50	n/a	6
Aug ’25	US$13.90	US$15.08 +8.5%	28.4%	US$22.00	US$7.50	n/a	6
Jul ’25	US$15.25	US$15.08 -1.1%	28.4%	US$22.00	US$7.50	n/a	6
Jun ’25	US$8.69	US$12.25 +41.0%	19.4%	US$15.00	US$7.50	n/a	6
May ’25	US$7.99	US$12.33 +54.4%	15.3%	US$15.00	US$9.00	n/a	6
Apr ’25	US$10.82	US$12.00 +10.9%	17.7%	US$15.00	US$9.00	n/a	4
Mar ’25	US$8.92	US$11.00 +23.3%	36.4%	US$15.00	US$7.00	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.

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