Galaxy Digital Inc. Class A Common Stock (GLXY)

FairStock Score: 46/100 — MIXED

Key Financials

AI Analysis

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

I look for durable earnings bought at a sensible price. Galaxy Digital is not easy on either count. It runs digital-asset trading, lending, advisory and data-center infrastructure. In fiscal year 2023 it earned $228.5 million; in fiscal year 2024 it earned $346.7 million; in fiscal year 2025 it lost $241.3 million. That swing fits FairStock's TURNAROUND label. More recently, filed figures show a fiscal Q1 2026 loss of $216.3 million (quarter ended 2026-03-31) and a fiscal Q2 2026 loss of $85.3 million (quarter ended 2026-06-30), so red ink is narrowing but not gone. Fiscal Q3 2025, the quarter ended 2025-09-30, did produce $505.1 million of net income on $28.4 billion of revenue, proving the business can earn heavily when markets are hot. But that is the problem: profits depend on digital-asset cycles. At the 2026-10-13 close of $19.71, FairStock calculates a P/B of 2.11, ROE of -10.41%, D/E of 1.87, and Piotroski F-Score of 4/9. Paying more than twice book for negative returns on equity is not a Graham margin of safety. The ROCE of 356.48% looks extraordinary, but with high leverage and volatile earnings I treat it skeptically. Beta of 3.68 is not a sleep-well figure. I would want durable through-cycle profits and lower balance-sheet risk before calling the price attractive. Missing bank-style measures — CET1, NIM, combined ratio — mean credit and underwriting risk cannot be fully assessed.

In plain English: Galaxy Digital runs digital-asset trading, lending and advisory services, plus data centers. The business made money in 2023 and 2024 but lost money in 2025 and is still losing money in 2026, so its earnings are unstable. At $19.71 as of 2026-10-13, the price does not look cheap compared with those weak current profits and its debt load.

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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