Cipher Digital Inc. Common Stock (CIFR)

FairStock Score: 19/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach this as a Graham-style bargain hunter: I want a durable business earning real profits, bought at a sensible price. Cipher Digital operates data centers for bitcoin mining and HPC hosting, but the financial record is troubling. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $24.8 million and net income was a loss of $267.5 million, a negative 1,077% margin. In fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $34.8 million and net income was a loss of $114.3 million, so the red ink is deepening. In FY2025, revenue was $223.9 million and net income was a loss of $822.2 million; FY2024 lost $44.6 million and FY2023 lost $25.8 million. FairStock calculations show trailing free cash flow of about negative $1.5 billion and an FCF yield of -31.8%, meaning the enterprise consumes enormous capital. Its Piotroski F-Score is 1/9 and Altman Z-Score is 0.56, which point to serious financial fragility; debt-to-equity is 9.51. On the 2026-10-13 close, the price was $11.34, market cap $4.7 billion, P/B 8.34, P/E -3.97, and FairStock Score 19/100. The stock sits near the low end of its 52-week range of $10.68-$30.14, but a low price is not the same as cheap. There is no consistent profit history, with losses in each of the last four years, so a Lynch category is impossible. The HPC data-center optionality may be real, but a durable moat is unproven. I would need evidence of positive cash flow and a repaired balance sheet before calling this a sound value.

In plain English: Cipher Digital builds and runs large data centers, mostly for bitcoin mining and advanced computing. The business is losing a lot of money, revenue has recently fallen, and cash is going out the door. At the recent price of $11.34, the shares look expensive compared with those weak numbers.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer