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TeraWulf Valuation Multiples
Discover revenue and EBITDA valuation multiples for TeraWulf and similar public comparables like Hut 8, Cipher Digital, Riot Platforms, Core Scientific and more.
TeraWulf Overview
About TeraWulf
TeraWulf Inc is a digital asset technology company that is engaged in digital infrastructure and sustainable energy development. It is involved in supporting environmentally conscious bitcoin mining operations by developing and operating facilities within the United States. The company's bitcoin mining facilities are powered by clean, affordable, and reliable energy sources. Its primary source of revenue stems from the mining of bitcoin conducted at the company's mining facility sites. Additionally, the company occasionally generates revenue through the provision of miner hosting services to third-party entities.
Founded
2021
HQ
Employees
12
Website
Sectors
Financials (LTM)
EV
$12B
TeraWulf Financials
TeraWulf reported last 12-month revenue of $230M and EBITDA of $41M.
In the same LTM period, TeraWulf generated $132M in gross profit, $41M in EBITDA, and had net loss of ($556M).
Revenue (LTM)
TeraWulf P&L
In the most recent fiscal year, TeraWulf reported revenue of $169M and EBITDA of ($23M).
TeraWulf expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $230M | XXX | $169M | XXX | XXX | XXX |
| Gross Profit | $132M | XXX | $86M | XXX | XXX | XXX |
| Gross Margin | 57% | XXX | 51% | XXX | XXX | XXX |
| EBITDA | $41M | XXX | ($23M) | XXX | XXX | XXX |
| EBITDA Margin | 18% | XXX | (14%) | XXX | XXX | XXX |
| EBIT Margin | (63%) | XXX | (101%) | XXX | XXX | XXX |
| Net Profit | ($556M) | XXX | ($661M) | XXX | XXX | XXX |
| Net Margin | (242%) | XXX | (393%) | XXX | XXX | XXX |
| Net Debt | — | — | $2B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
TeraWulf Stock Performance
TeraWulf has current market cap of $10B, and enterprise value of $12B.
Market Cap Evolution
TeraWulf's stock price is $20.64.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $12B | $10B | -0.0% | XXX | XXX | XXX | $-1.35 |
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Start Free TrialTeraWulf Valuation Multiples
TeraWulf trades at 52.4x EV/Revenue multiple, and 295.3x EV/EBITDA.
EV / Revenue (LTM)
TeraWulf Financial Valuation Multiples
As of April 20, 2026, TeraWulf has market cap of $10B and EV of $12B.
Equity research analysts estimate TeraWulf's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
TeraWulf has a P/E ratio of (18.2x).
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $10B | XXX | $10B | XXX | XXX | XXX |
| EV (current) | $12B | XXX | $12B | XXX | XXX | XXX |
| EV/Revenue | 52.4x | XXX | 71.5x | XXX | XXX | XXX |
| EV/EBITDA | 295.3x | XXX | (521.8x) | XXX | XXX | XXX |
| EV/EBIT | (83.5x) | XXX | (70.7x) | XXX | XXX | XXX |
| EV/Gross Profit | 91.3x | XXX | 140.3x | XXX | XXX | XXX |
| P/E | (18.2x) | XXX | (15.3x) | XXX | XXX | XXX |
| EV/FCF | (8.6x) | XXX | (12.1x) | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified TeraWulf Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
TeraWulf Margins & Growth Rates
TeraWulf's revenue in the last 12 month grew by 133%.
TeraWulf's revenue per employee in the last FY averaged $14.0M, while opex per employee averaged $21.3M for the same period.
TeraWulf's rule of 40 is 173% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
TeraWulf's rule of X is 356% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
TeraWulf Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 133% | XXX | 122% | XXX | XXX | XXX |
| EBITDA Margin | 18% | XXX | (14%) | XXX | XXX | XXX |
| EBITDA Growth | 690% | XXX | (927%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 173% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 356% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $14.0M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $21.3M | XXX | XXX | XXX |
| G&A Expenses to Revenue | 60% | XXX | 83% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 152% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
TeraWulf Public Comps
See public comps and valuation multiples for other Crypto Mining comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| TeraWulf | XXX | XXX | XXX | XXX | XXX | XXX |
| Hut 8 | XXX | XXX | XXX | XXX | XXX | XXX |
| Cipher Digital | XXX | XXX | XXX | XXX | XXX | XXX |
| Riot Platforms | XXX | XXX | XXX | XXX | XXX | XXX |
| Core Scientific | XXX | XXX | XXX | XXX | XXX | XXX |
| MARA Holdings | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
TeraWulf M&A Activity
TeraWulf acquired XXX companies to date.
Last acquisition by TeraWulf was on XXXXXXXX, XXXXX. TeraWulf acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by TeraWulf
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialTeraWulf Investment Activity
TeraWulf invested in XXX companies to date.
TeraWulf made its latest investment on XXXXXXXX, XXXXX. TeraWulf invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by TeraWulf
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout TeraWulf
| When was TeraWulf founded? | TeraWulf was founded in 2021. |
| Where is TeraWulf headquartered? | TeraWulf is headquartered in United States. |
| How many employees does TeraWulf have? | As of today, TeraWulf has over 12 employees. |
| Who is the CEO of TeraWulf? | TeraWulf's CEO is Paul B. Prager. |
| Is TeraWulf publicly listed? | Yes, TeraWulf is a public company listed on Nasdaq. |
| What is the stock symbol of TeraWulf? | TeraWulf trades under WULF ticker. |
| When did TeraWulf go public? | TeraWulf went public in 2021. |
| Who are competitors of TeraWulf? | TeraWulf main competitors are Hut 8, Cipher Digital, Riot Platforms, Core Scientific. |
| What is the current market cap of TeraWulf? | TeraWulf's current market cap is $10B. |
| What is the current revenue of TeraWulf? | TeraWulf's last 12 months revenue is $230M. |
| What is the current revenue growth of TeraWulf? | TeraWulf revenue growth (NTM/LTM) is 133%. |
| What is the current EV/Revenue multiple of TeraWulf? | Current revenue multiple of TeraWulf is 52.4x. |
| Is TeraWulf profitable? | Yes, TeraWulf is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of TeraWulf? | TeraWulf's last 12 months EBITDA is $41M. |
| What is TeraWulf's EBITDA margin? | TeraWulf's last 12 months EBITDA margin is 18%. |
| What is the current EV/EBITDA multiple of TeraWulf? | Current EBITDA multiple of TeraWulf is 295.3x. |
| What is the current FCF of TeraWulf? | TeraWulf's last 12 months FCF is ($1B). |
| What is TeraWulf's FCF margin? | TeraWulf's last 12 months FCF margin is (612%). |
| What is the current EV/FCF multiple of TeraWulf? | Current FCF multiple of TeraWulf is (8.6x). |
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