15 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 | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $59M | -$1.3B | 0.0% | -2085.5% | -$1.2B | $3.6B | $547M |
| 2024 | $97M | $541M | -745.1% | 317.1% | -$928M | $2.4B | $392M |
| 2023 | $58M | $259M | -598.2% | 382.9% | -$343M | $326M | $357M |
| 2022 | $10M | -$694M | -340.7% | -6815.2% | -$218M | $782M | $104M |
| 2021 | $24M | -$30M | 482.1% | -12.3% | -$293M | $728M | $269M |
| 2020 | $4M | -$10M | -58.7% | -225.3% | -$26M | — | $141M |
| 2019 | $1M | -$4M | 0.0% | -357.7% | -$3M | $999106 | $692963 |
| 2018 | $2M | -$13M | 0.0% | -772.9% | -$13M | $999106 | $3M |
| 2017 | $519622 | -$31M | 0.0% | -2729.6% | -$11M | $2M | $15M |
| 2016 | — | -$29M | — | — | $10M | $18M | $5M |
| 2015 | — | -$17M | — | — | -$3M | — | $3M |
| 2014 | — | -$3M | — | — | $4M | — | — |
| 2013 | — | -$3M | — | — | -$2M | — | $4M |
| 2013 | — | -$9M | — | — | -$2M | — | — |
| 2013 | — | -$8M | — | — | -$2M | — | — |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $17M | -$1.3B | 0.0% | -6096.0% | -$327M | $2.4B | $514M |
| Dec '25 | $12M | -$1.7B | 0.0% | -11795.9% | -$389M | $3.6B | $547M |
| Sep '25 | $17M | $123M | 0.0% | 283.4% | -$284M | $3.2B | $826M |
| Jun '25 | $15M | $808M | 0.0% | 4462.8% | -$282M | $2.3B | $109M |
| Mar '25 | $15M | -$533M | 0.0% | -3675.5% | -$254M | $2.3B | $196M |
| Dec '24 | $13M | $528M | -1992.3% | 2670.5% | -$500M | $2.4B | $392M |
| Sep '24 | $17M | -$125M | -1084.4% | -1026.8% | -$198M | $619M | $164M |
| Jun '24 | $25M | -$200M | -629.5% | -933.0% | -$132M | — | $256M |
| Mar '24 | $43M | $337M | -289.4% | 855.8% | -$97M | — | $324M |
| Dec '23 | $25M | $152M | -496.0% | 755.1% | -$93M | $326M | $357M |
| Sep '23 | $5M | -$390000 | -303.2% | -1585.8% | -$84M | — | $357M |
| Jun '23 | $10M | -$9M | -112.5% | -63.6% | -$57M | — | $114M |
| Mar '23 | $19M | $119M | 0.1% | 645.0% | -$109M | — | $125M |
| Dec '22 | -$79M | — | 154.8% | 517.2% | -$114M | $782M | $104M |
| Sep '22 | $13M | — | -215.7% | -346.9% | -$49M | — | $55M |
| Jun '22 | $25M | — | -66.1% | -795.1% | -$22M | — | $86M |
| Mar '22 | $52M | -$13M | 49.0% | -28.1% | -$33M | — | $118M |
| Dec '21 | $69M | — | 67.0% | 51.2% | -$218M | $728M | $269M |
| Sep '21 | $52M | — | 80.2% | -43.4% | -$2M | — | $33M |
| Jun '21 | $29M | — | 76.1% | -376.1% | -$45M | — | $171M |
How the market has priced MARA 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 5 years, Mara Holdings, Inc.'s revenue has grown 68.2% per year. These are computed facts, not advice.
As of FY2025, Mara Holdings, Inc. reported $3.6B of total debt against $547M of cash; operating income covered interest expense -25.3×.
In FY2025, gross margin was —, operating margin -2085.5%, and net margin -2234.1%.
As of Jun '26, Mara Holdings, Inc. traded at a price-to-earnings ratio of about 8.3× (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.