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RIOT

Riot BlockchainNasdaqCM:RIOT Stock Report

Last Price

US$14.64

Market Cap

US$1.7b

7D

-21.7%

1Y

-24.2%

Updated

26 Jan, 2022

Data

Company Financials +
RIOT fundamental analysis
Snowflake Score
Valuation1/6
Future Growth5/6
Past Performance2/6
Financial Health6/6
Dividends0/6

RIOT Stock Overview

Riot Blockchain, Inc., together with its subsidiaries, focuses on cryptocurrency mining operation in North America.

Riot Blockchain Competitors

Marathon Digital Holdings

NasdaqCM:MARA

US$2.3b

Cipher Mining

NasdaqGS:CIFR

US$688.0m

Rhodium Enterprises

NasdaqGS:RHDM

US$648.9m

Iris Energy

NasdaqGS:IREN

US$525.6m

Price History & Performance

Summary of all time highs, changes and price drops for Riot Blockchain
Historical stock prices
Current Share PriceUS$14.64
52 Week HighUS$79.50
52 Week LowUS$12.90
Beta4.12
1 Month Change-42.97%
3 Month Change-44.94%
1 Year Change-24.22%
3 Year Change717.88%
5 Year Change364.76%
Change since IPO-97.56%

Recent News & Updates

Jan 20

Riot's Cost Structure Cites Massive Overvaluation

Riot has historically fared poorly in the cost control department. In Q3, Riot's total mining cost per BTC stands at $39,500 (13% increase QoQ or 60% higher than BITF) after adjusting for stock compensation. The impact of Riot's higher cost is evident: 50% less Bitcoin accumulated per month compared to BITF despite having 20% more mining capacity than BITF. Comps showed that Riot is overvalued where Riot is priced 300% higher than BITF despite having similar current mining capacity and expected 2022 build-up capacity. Our model puts a number to that overvaluation: 70% overvalued and 30% overvalued given a $50,000 and $66,000 Bitcoin, respectively.

Jan 03

Riot Blockchain Is Ready To Fly

RIOT has been pummeled in recent weeks. Bitcoin weakness isn't helping, but Riot is cheap even relative to prior selling episodes. With capacity expanding nicely and a new acquisition, I think Riot's risk/reward is very good at the moment.

Shareholder Returns

RIOTUS SoftwareUS Market
7D-21.7%-5.1%-5.1%
1Y-24.2%3.4%3.3%

Return vs Industry: RIOT underperformed the US Software industry which returned 7.1% over the past year.

Return vs Market: RIOT underperformed the US Market which returned 4.2% over the past year.

Price Volatility

Is RIOT's price volatile compared to industry and market?
RIOT volatility
RIOT Average Weekly Movement15.0%
Software Industry Average Movement8.7%
Market Average Movement6.7%
10% most volatile stocks in US Market15.4%
10% least volatile stocks in US Market2.4%

Stable Share Price: RIOT is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 15% a week.

Volatility Over Time: RIOT's weekly volatility (15%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

FoundedEmployeesCEOWebsite
20008Jason Leshttps://www.riotblockchain.com

Riot Blockchain, Inc., together with its subsidiaries, focuses on cryptocurrency mining operation in North America. The company primarily focuses on bitcoin mining. As of December 31, 2020, it operated a fleet of 7,043 miners.

Riot Blockchain Fundamentals Summary

How do Riot Blockchain's earnings and revenue compare to its market cap?
RIOT fundamental statistics
Market CapUS$1.71b
Earnings (TTM)US$15.43m
Revenue (TTM)US$127.64m

110.6x

P/E Ratio

13.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
RIOT income statement (TTM)
RevenueUS$127.64m
Cost of RevenueUS$46.01m
Gross ProfitUS$81.63m
ExpensesUS$66.20m
EarningsUS$15.43m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.13
Gross Margin63.95%
Net Profit Margin12.09%
Debt/Equity Ratio0%

How did RIOT perform over the long term?

See historical performance and comparison

Valuation

Is Riot Blockchain undervalued compared to its fair value and its price relative to the market?

110.59x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate RIOT's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate RIOT's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: RIOT is poor value based on its PE Ratio (110.6x) compared to the US Software industry average (41x).

PE vs Market: RIOT is poor value based on its PE Ratio (110.6x) compared to the US market (16.5x).


Price to Earnings Growth Ratio

PEG Ratio: RIOT is poor value based on its PEG Ratio (2.3x)


Price to Book Ratio

PB vs Industry: RIOT is good value based on its PB Ratio (2.2x) compared to the US Software industry average (4.7x).


Future Growth

How is Riot Blockchain forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

48.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: RIOT's forecast earnings growth (48% per year) is above the savings rate (2%).

Earnings vs Market: RIOT's earnings (48% per year) are forecast to grow faster than the US market (13% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: RIOT's revenue (50.6% per year) is forecast to grow faster than the US market (9.1% per year).

High Growth Revenue: RIOT's revenue (50.6% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if RIOT's Return on Equity is forecast to be high in 3 years time


Past Performance

How has Riot Blockchain performed over the past 5 years?

14.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: RIOT has a high level of non-cash earnings.

Growing Profit Margin: RIOT became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: RIOT has become profitable over the past 5 years, growing earnings by 14.6% per year.

Accelerating Growth: RIOT has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: RIOT has become profitable in the last year, making it difficult to compare its past year earnings growth to the Software industry (20%).


Return on Equity

High ROE: RIOT's Return on Equity (2%) is considered low.


Financial Health

How is Riot Blockchain's financial position?


Financial Position Analysis

Short Term Liabilities: RIOT's short term assets ($179.0M) exceed its short term liabilities ($25.6M).

Long Term Liabilities: RIOT's short term assets ($179.0M) exceed its long term liabilities ($158.5M).


Debt to Equity History and Analysis

Debt Level: RIOT is debt free.

Reducing Debt: RIOT has no debt compared to 5 years ago when its debt to equity ratio was 1.3%.

Debt Coverage: RIOT has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: RIOT has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Dividend

What is Riot Blockchain current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate RIOT's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate RIOT'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 RIOT's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if RIOT's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of RIOT's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

0.9yrs

Average management tenure


CEO

Jason Les (35 yo)

0.92

Tenure

US$453,000

Compensation

Mr. Jason Les serves as the Chief Executive Officer since February 8, 2021 and serves as the Non Independent Executive Director at Riot Blockchain, Inc. since November 2017 and was its Member of Advisory B...


Leadership Team

Experienced Management: RIOT's management team is not considered experienced ( 0.9 years average tenure), which suggests a new team.


Board Members

Experienced Board: RIOT's board of directors are considered experienced (3.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: RIOT insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 72.6%.


Top Shareholders

Company Information

Riot Blockchain, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Riot Blockchain, Inc.
  • Ticker: RIOT
  • Exchange: NasdaqCM
  • Founded: 2000
  • Industry: Application Software
  • Sector: Software
  • Implied Market Cap: US$1.707b
  • Shares outstanding: 116.58m
  • Website: https://www.riotblockchain.com

Number of Employees


Location

  • Riot Blockchain, Inc.
  • 202 6th Street
  • Suite 401
  • Castle Rock
  • Colorado
  • 80104
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/26 01:00
End of Day Share Price2022/01/25 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


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.