Stocks · Financial Services · Financial - Capital Markets
Marathon Digital Holdings, Inc. MARA
$11.17 -0.53% Close, Oct 5, 2026 · NASDAQ · Market cap $4.28B
Expensive vs sectorHigh risk
Next earnings report: Nov 3, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Diluted EPS over the last four quarters was $-9.45, down 943.7% year over year.
- Operating margin narrowed to -99.6% from 38.5% a year earlier.
- The diluted share count fell 13.5% in a year, mainly through buybacks.
PromtFinance scores
Each score is a percentile within the Financial Services sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 6, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Bottom 29%
- EPS growth (TTM, YoY)Bottom 1%
- Revenue growth, 3-year CAGRTop 1%
- Revenue growth accelerationBottom 8%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalBottom 3%
- Gross marginBottom 2%
- Operating marginBottom 3%
- Accruals (lower is better)Top 3%
- Interest coverBottom 3%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 2%
- Free-cash-flow yieldBottom 4%
- EBITDA / enterprise valueBottom 3%
- Sales / enterprise valueBottom 15%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthBottom 5%
- 6-month returnTop 12%
- 1-year return vs S&P 500Bottom 7%
- Distance from 52-week highBottom 5%
- Trend checklist (0–4)Top 48%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersBottom 8%
- Consecutive EPS beatsBottom 17%
- Share of analysts rating BuyBottom 47%
- Upside to consensus price targetTop 41%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Bottom 4%
- Maximum drawdown, 3 yearsBottom 4%
- Beta vs S&P 500 (lower is better)Bottom 4%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 23.1% | 0.7% | ↓ |
| Gross margin | 31.0% | -8.5% | ↓ |
| Operating margin | 38.5% | -99.6% | ↓ |
| FCF margin | -190.1% | -194.7% | ↓ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 0.7% | 23.1% | ↓ | Bottom 29% |
| EPS growth (TTM, YoY) | -943.7% | — | Bottom 1% | |
| Gross margin | -8.5% | 31.0% | ↓ | Bottom 2% |
| Operating margin | -99.6% | 38.5% | ↓ | Bottom 3% |
| Net margin | -429.7% | 85.0% | ↓ | — |
| Free-cash-flow margin | -194.7% | -190.1% | ↓ | — |
| Return on invested capital | -18.0% | — | Bottom 3% | |
| Revenue growth, 3-year CAGR | 97.5% | — | Top 1% |
Quality of earnings and balance sheet
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -53.2%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 21.9%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -12.1 pp
- Interest cover (operating income / interest)How many times operating profit covers interest.
- -18.8×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- -5.29%
- Shareholder yield
- -5.29%
- Share count change, 1 year
- -13.5%
- Share count change, 3-year CAGR
- +31.3%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 6, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 0
- Beats in the last 8 reports
- 3 of 8
- Average EPS surprise, last 4
- -50.2%
- Average 2-day reaction, last 8
- -0.6%
- Positive 20 days after report
- 3 of 8
Analysts
- Consensus price target
- $13.25
- Target vs current price
- +18.6%
- Analysts with a rating
- 20
- Share rating Buy or Strong Buy
- 45%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 6, 2026 | -1060.4% | -5.2% | -14.2% | -6.9% | — |
| May 11, 2026 | -32.6% | +3.5% | -3.9% | +6.5% | -13.1% |
| Feb 26, 2026 | -100.0% | -1.4% | +8.4% | -3.4% | +58.1% |
| Nov 4, 2025 | +992.2% | -6.7% | -12.5% | -33.1% | -46.7% |
| Jul 29, 2025 | +2576.8% | -3.2% | -6.5% | -10.3% | +17.0% |
| May 8, 2025 | -355.9% | +7.2% | +19.1% | +11.6% | +20.3% |
| Feb 26, 2025 | +1024.4% | +0.2% | +12.5% | +14.7% | +27.5% |
| Nov 12, 2024 | -24.3% | +0.9% | -27.6% | -8.8% | -33.0% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 6, 2026 | -$1.60 | $0.17 | -1060.4% | $174.9M |
| May 11, 2026 | -$0.61 | -$0.46 | -32.6% | $174.6M |
| Feb 26, 2026 | -$0.46 | -$0.23 | -100.0% | $202.3M |
| Nov 4, 2025 | $0.27 | $0.02 | +992.2% | $252.4M |
| Jul 29, 2025 | $1.84 | -$0.07 | +2576.8% | $238.5M |
| May 8, 2025 | -$1.55 | -$0.34 | -355.9% | $213.9M |
| Feb 26, 2025 | $1.24 | -$0.13 | +1024.4% | $214.4M |
| Nov 12, 2024 | -$0.42 | -$0.34 | -24.3% | $131.6M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| EV / Sales | 7.87× | — | — | Bottom 15% |
| Free-cash-flow yield | -36.57% | — | — | Bottom 4% |
| Earnings yield | -84.60% | — | — | Bottom 2% |
P/E over the past five years
Range 9.1× – 23.4× since Dec 31, 2023. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- -40.6%
- Earnings per share growth (TTM)
- -943.7%
- Change in P/E multiple
- -24.1%
Most of the move came from a change in the valuation multiple.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 22
- 50-day average slope (20 days)
- -1.8%
- 200-day average slope (20 days)
- +0.5%
- Distance from 50-day average
- -0.6%
- Distance from 200-day average
- +1.8%
- RSI (14)
- 44.3
- Relative volume
- 0.75×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 90.4%
- Volatility vs own 5-year history
- 31th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 1.99
- Correlation with S&P 500
- 0.40
- Current drawdown from 1-year high
- -51.1%
- Maximum drawdown, 3 years
- -78.3%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Nov 9, 2021 | Dec 28, 2022 | -95.9% | 285 days | Not yet recovered |
| Apr 5, 2021 | May 13, 2021 | -65.2% | 28 days | 120 days (Nov 2, 2021) |
| Feb 17, 2021 | Mar 8, 2021 | -40.5% | 13 days | 17 days (Mar 31, 2021) |
| Jan 8, 2021 | Jan 21, 2021 | -33.5% | 8 days | 12 days (Feb 8, 2021) |
| Oct 22, 2020 | Nov 2, 2020 | -30.0% | 7 days | 11 days (Nov 17, 2020) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $4.28B
- EPS, diluted (TTM)
- -$9.45
- Revenue (TTM)
- $804.2M
- 52-week range
- $6.66 – $23.45
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $159.2M | $117.8M | $387.5M | $656.4M | $907.1M |
| Gross profit | $116.8M | -$33.7M | -$15.3M | -$159.4M | -$432.9M |
| Operating income | -$57.6M | -$673.5M | $220.9M | $306.1M | -$822.2M |
| Net income | -$37.1M | -$694.0M | $261.2M | $541.3M | -$1.31B |
| EPS (diluted) | -$0.37 | -$6.12 | $1.06 | $1.72 | -$3.69 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $131.6M | $214.4M | $213.9M | $238.5M | $252.4M | $202.3M | $174.6M | $174.9M |
| Net income | -$124.8M | $528.5M | -$533.2M | $808.2M | $123.1M | -$1.71B | -$1.26B | -$609.7M |
| EPS (diluted) | -$0.42 | $1.25 | -$1.55 | $1.84 | $0.27 | -$4.81 | -$3.31 | -$1.60 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | -$18.2M | -$176.5M | -$315.7M | -$677.0M | $94.7M |
| Capital expenditure | -$708.9M | -$41.1M | -$27.6M | -$253.5M | -$407.1M |
| Free cash flow | -$727.1M | -$217.6M | -$343.3M | -$930.5M | -$312.3M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | $312.2M | $361.5M | $606.2M | $1.82B | $521.6M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $421.3M
- Total assets
- $4.35B
- Total liabilities
- $2.59B
- Total debt
- $2.47B
- Net debt
- $2.04B
- Shareholders’ equity
- $1.66B
As of Jun 30, 2026 (filed Aug 6, 2026).
Short interest
- Shares sold short
- 104,599,144
- Days to cover
- 2.38
- Change vs previous report
- -5.0%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- Apr 8, 2019
- 1-for-4
- Oct 30, 2017
- 1-for-4
- Dec 23, 2014
- 2-for-1
- Jul 22, 2013
- 1-for-13