Riot Platforms, Inc.

NasdaqCM:RIOT Stock Report

Market Cap: US$4.0b

Riot Platforms Valuation

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

Discounted Cash Flow
Simply Wall St
US$31.01
Fair Value
60.4% undervalued intrinsic discount
15
Number of Analysts

Below Fair Value: RIOT ($12.29) is trading below our estimate of fair value ($31.01)

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

Key Valuation Metric

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

Key metric: As RIOT is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for RIOT. This is calculated by dividing RIOT's market cap by their current revenue.
What is RIOT's PS Ratio?
PS Ratio13.1x
SalesUS$312.91m
Market CapUS$3.98b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for RIOT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average8.4x
AI C3.ai
12.6x19.0%US$4.0b
BL BlackLine
6.3x8.3%US$4.0b
BLKB Blackbaud
3.4x5.4%US$3.8b
AVPT AvePoint
11.3x18.0%US$3.5b
RIOT Riot Platforms
13.1x38.2%US$4.0b

Price-To-Sales vs Peers: RIOT is expensive based on its Price-To-Sales Ratio (13.1x) compared to the peer average (8.4x).

Price to Sales Ratio vs Industry

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

74 CompaniesPrice / SalesEstimated GrowthMarket Cap
NBIS Nebius Group
0.9x-139.4%US$7.84b
VYX NCR Voyix
0.5x-22.4%US$1.76b
PGY Pagaya Technologies
0.8x15.2%US$696.05m
XPER Xperi
0.8x1.8%US$402.58m
RIOT 13.1xIndustry Avg. 5.9xNo. of Companies74PS048121620+
74 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: RIOT is expensive based on its Price-To-Sales Ratio (13.1x) compared to the US Software industry average (5.9x).

Price to Sales Ratio vs Fair Ratio

What is RIOT'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.

RIOT PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio13.1x
Fair PS Ratio7.2x

Price-To-Sales vs Fair Ratio: RIOT is expensive based on its Price-To-Sales Ratio (13.1x) compared to the estimated Fair Price-To-Sales Ratio (7.1x).

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 RIOT forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$12.29
US$18.20
+48.1%
18.1%US$23.00US$13.00n/a15
Jan ’26US$10.21
US$17.90
+75.3%
21.5%US$25.00US$11.00n/a15
Dec ’25US$12.65
US$16.71
+32.1%
24.3%US$24.00US$9.50n/a14
Nov ’25US$9.44
US$16.23
+71.9%
29.5%US$24.00US$8.22n/a14
Oct ’25US$7.08
US$16.55
+133.8%
27.9%US$22.00US$8.22n/a14
Sep ’25US$7.53
US$17.17
+128.0%
25.2%US$23.00US$9.50n/a13
Aug ’25US$9.32
US$17.46
+87.4%
22.3%US$23.00US$11.00n/a13
Jul ’25US$9.95
US$17.79
+78.8%
20.8%US$23.00US$12.00n/a12
Jun ’25US$9.74
US$17.83
+83.1%
17.2%US$22.00US$13.00n/a12
May ’25US$9.82
US$19.46
+98.1%
19.2%US$26.00US$13.50n/a12
Apr ’25US$11.47
US$19.63
+71.1%
20.4%US$26.00US$11.00n/a12
Mar ’25US$14.44
US$19.62
+35.8%
21.5%US$26.00US$11.00n/a11
Feb ’25US$11.30
US$18.73
+65.7%
24.0%US$26.00US$11.00US$11.8811
Jan ’25US$15.47
US$17.91
+15.8%
21.6%US$22.50US$11.00US$10.2111
Dec ’24US$13.77
US$16.19
+17.6%
23.9%US$22.00US$8.00US$12.6511
Nov ’24US$10.21
US$17.22
+68.7%
23.4%US$22.86US$7.50US$9.4411
Oct ’24US$9.33
US$19.93
+113.6%
11.5%US$23.00US$16.00US$7.089
Sep ’24US$11.04
US$20.15
+82.5%
9.8%US$23.00US$18.00US$7.539
Aug ’24US$18.23
US$16.56
-9.1%
26.5%US$24.00US$12.00US$9.328
Jul ’24US$11.82
US$12.94
+9.5%
9.9%US$16.00US$12.00US$9.958
Jun ’24US$12.41
US$12.06
-2.9%
20.5%US$16.00US$6.00US$9.749
May ’24US$10.52
US$11.75
+11.7%
25.0%US$17.00US$6.00US$9.829
Apr ’24US$9.99
US$9.31
-6.9%
21.6%US$12.00US$5.00US$11.479
Mar ’24US$6.14
US$9.80
+59.6%
19.3%US$12.00US$5.00US$14.4410
Feb ’24US$6.86
US$10.00
+45.8%
21.1%US$13.00US$5.00US$11.309
Analyst Price Target
Consensus Narrative from 15 Analysts
US$18.20
Fair Value
32.5% undervalued intrinsic discount
15
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 Analysis2025/02/04 23:15
End of Day Share Price 2025/02/04 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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

Riot Platforms, Inc. is covered by 26 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Martin TonerATB Capital Markets
Lucas PipesB. Riley Securities, Inc.
Gregory LewisBTIG