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TeraWulf Valuation Multiples

Discover revenue and EBITDA valuation multiples for TeraWulf and similar public comparables like More Impact, Bitcoin Group, and Advanced Blockchain.

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

United States of America
Employees

12

Website

terawulf.com

Financials

LTM Revenue $167M

LTM EBITDA $52.2M

EV

$1.7B

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TeraWulf Financials

TeraWulf has a last 12-month revenue (LTM) of $167M and a last 12-month EBITDA of $52.2M.

In the most recent fiscal year, TeraWulf achieved revenue of $140M and an EBITDA of -$17.4M.

TeraWulf expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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TeraWulf P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $167M XXX $140M XXX XXX XXX
Gross Profit $78.7M XXX $77.4M XXX XXX XXX
Gross Margin 47% XXX 55% XXX XXX XXX
EBITDA $52.2M XXX -$17.4M XXX XXX XXX
EBITDA Margin 31% XXX -12% XXX XXX XXX
EBIT -$91.7M XXX -$60.6M XXX XXX XXX
EBIT Margin -55% XXX -43% XXX XXX XXX
Net Profit -$95.6M XXX -$72.4M XXX XXX XXX
Net Margin -57% XXX -52% XXX XXX XXX
Net Debt XXX XXX $213M XXX XXX XXX

Financial data powered by Morningstar, Inc.

TeraWulf Stock Performance

As of May 30, 2025, TeraWulf's stock price is $4.

TeraWulf has current market cap of $1.4B, and EV of $1.7B.

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TeraWulf Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$1.7B $1.4B XXX XXX XXX XXX $-0.26

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TeraWulf Valuation Multiples

As of May 30, 2025, TeraWulf has market cap of $1.4B and EV of $1.7B.

TeraWulf's trades at 11.8x EV/Revenue multiple, and -95.0x EV/EBITDA.

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 -14.3x.

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TeraWulf Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $1.4B XXX $1.4B XXX XXX XXX
EV (current) $1.7B XXX $1.7B XXX XXX XXX
EV/Revenue 9.9x XXX 11.8x XXX XXX XXX
EV/EBITDA 31.7x XXX -95.0x XXX XXX XXX
EV/EBIT -18.0x XXX -27.3x XXX XXX XXX
EV/Gross Profit 21.0x XXX n/a XXX XXX XXX
P/E -14.3x XXX -18.9x XXX XXX XXX
EV/FCF -8.6x XXX -5.7x XXX XXX XXX

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TeraWulf Margins & Growth Rates

TeraWulf's last 12 month revenue growth is 64%

TeraWulf's revenue per employee in the last FY averaged $11.7M, while opex per employee averaged $11.5M for the same period.

TeraWulf's rule of 40 is 64% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

TeraWulf's rule of X is 191% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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TeraWulf Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 64% XXX 63% XXX XXX XXX
EBITDA Margin 31% XXX -12% XXX XXX XXX
EBITDA Growth 65% XXX 1488% XXX XXX XXX
Rule of 40 64% XXX 52% XXX XXX XXX
Bessemer Rule of X XXX XXX 191% XXX XXX XXX
Revenue per Employee XXX XXX $11.7M XXX XXX XXX
Opex per Employee XXX XXX $11.5M XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 99% XXX XXX XXX

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TeraWulf Public Comps

See public comps and valuation multiples for Blockchain & Crypto comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Phoenix Group XXX XXX XXX XXX XXX XXX
Jasmine Technology Solution XXX XXX XXX XXX XXX XXX
Advanced Blockchain XXX XXX XXX XXX XXX XXX
Bitcoin Group XXX XXX XXX XXX XXX XXX
More Impact XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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TeraWulf M&A and Investment Activity

TeraWulf acquired  XXX companies to date.

Last acquisition by TeraWulf was  XXXXXXXX, XXXXX XXXXX XXXXXX . TeraWulf acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by TeraWulf

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About TeraWulf

When was TeraWulf founded? TeraWulf was founded in 2021.
Where is TeraWulf headquartered? TeraWulf is headquartered in United States of America.
How many employees does TeraWulf have? As of today, TeraWulf has 12 employees.
Who is the CEO of TeraWulf? TeraWulf's CEO is Mr. Paul B. Prager.
Is TeraWulf publicy listed? Yes, TeraWulf is a public company listed on NAS.
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? Similar companies to TeraWulf include e.g. Phoenix Group, Jasmine Technology Solution, Advanced Blockchain, Bitcoin Group.
What is the current market cap of TeraWulf? TeraWulf's current market cap is $1.4B
What is the current revenue of TeraWulf? TeraWulf's last 12 months revenue is $167M.
What is the current revenue growth of TeraWulf? TeraWulf revenue growth (NTM/LTM) is 64%.
What is the current EV/Revenue multiple of TeraWulf? Current revenue multiple of TeraWulf is 9.9x.
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 $52.2M.
What is TeraWulf's EBITDA margin? TeraWulf's last 12 months EBITDA margin is 31%.
What is the current EV/EBITDA multiple of TeraWulf? Current EBITDA multiple of TeraWulf is 31.7x.
What is the current FCF of TeraWulf? TeraWulf's last 12 months FCF is -$192M.
What is TeraWulf's FCF margin? TeraWulf's last 12 months FCF margin is -115%.
What is the current EV/FCF multiple of TeraWulf? Current FCF multiple of TeraWulf is -8.6x.

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