5 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | $235M | -$248M | 54.2% | -136.9% | -17.4% | -9.0% | — | — | $45M |
| 2024 | $162M | $331M | 46.6% | 283.6% | 33.9% | 21.8% | — | $301M | $85M |
| 2023 | — | $22M | — | — | 4.5% | 3.0% | — | $187M | $31M |
| 2023 | $82M | -$66M | 47.5% | -83.6% | -239.7% | -34.5% | — | $151M | $10M |
| 2022 | $74M | -$32M | 65.0% | -26.9% | -36.3% | -13.0% | — | $128M | $21M |
| Quarter | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| Jun '26 | $75M | -$150M | 64.1% | -275.4% | -10.4% | -1.5% | — | — | $234M |
| Mar '26 | $71M | -$220M | 64.0% | -521.5% | -15.9% | -8.4% | — | — | $160M |
| Dec '25 | $88M | -$280M | 60.4% | -491.4% | -19.7% | -10.2% | — | — | $45M |
| Sep '25 | $84M | $50M | 61.3% | 87.0% | 3.5% | 1.9% | — | — | $33M |
| Jun '25 | $41M | $137M | 47.3% | 454.9% | 10.8% | 6.8% | — | — | $216M |
| Mar '25 | $22M | -$134M | 14.5% | -676.8% | -13.9% | -8.5% | — | — | $108M |
| Dec '24 | $32M | $152M | 35.9% | 889.5% | 15.6% | 10.0% | — | $301M | $85M |
| Sep '24 | $44M | $647000 | 59.9% | -3.6% | 0.1% | 0.1% | — | $297M | — |
| Jun '24 | $35M | -$72M | 41.4% | -246.2% | -10.9% | -6.6% | — | $329M | — |
| Mar '24 | $52M | $251M | 45.6% | 515.8% | 34.3% | 25.1% | — | $178M | $12M |
| Dec '23 | — | $11M | — | — | 2.2% | 1.4% | — | $187M | $31M |
| Sep '23 | $22M | -$4M | 37.7% | -3.1% | -18.7% | -2.4% | — | — | — |
| Jun '23 | $21M | -$2M | 41.6% | 4.6% | -6.2% | -0.9% | — | $151M | $10M |
| Mar '23 | $16M | $17M | 45.6% | -11.3% | 60.3% | — | — | — | — |
| Sep '22 | — | -$560000 | — | — | -0.6% | — | — | — | — |
How the market has priced HUT against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 4 years, Hut 8's revenue has grown 47.2% per year. These are computed facts, not advice.
As of FY2025, Hut 8 reported — of total debt against $45M of cash; operating income covered interest expense -10.7×.
In FY2025, gross margin was 54.2%, operating margin -136.9%, and net margin -105.5%.
As of Sep '26, Hut 8 traded at a price-to-earnings ratio of about 16.8× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.