What is Riot Platforms, Inc.'s earnings per share (EPS)?

Riot Platforms, Inc. (RIOT) reported diluted earnings per share of -$1.95 for fiscal year 2025. This represents a -673.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Riot Platforms, Inc. (RIOT) Financials

RIOT

Trailing 12 months to June 30, 2026

Revenue $674.5M +24.5% YoY

Net Income -$1.3B -1295.9% YoY

EPS (Diluted) -$3.89 -826.2% YoY

Free Cash Flow -$776.7M -6.3% YoY

Market Cap $6.3B as of Oct 8, 2026

Price / Sales 9.4x on $674.5M revenue, trailing 12 months to June 30, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to June 30, 2026

Price / Book 2.9x on $2.2B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 8, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 10, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the RIOT SEC filings page.

Riot Platforms, Inc. (RIOT) reported $674.5M in revenue over the twelve months to Jun 30, 2026, up 24.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI RIOT FY2025 2026-10-03

Riot's 2025 revenue surge did not translate into profits or cash, and current liabilities now exceed current assets.

The reversal from a $109M profit in FY2024 to a $663M loss in FY2025 arrived as revenue rose, so scale did not stabilize earnings. Operating cash flow also moved from -$255M to -$573M, showing the earnings swing came with worsening cash conversion rather than merely non-cash accounting noise.

FY2025's $201M of capital expenditures sat beside free cash flow of -$774M, meaning reinvestment amplified an already weak cash outcome. With operating cash flow of -$573M, financing cash flow of $455M materially shaped the period's cash movement.

Assets stayed near $3.9B while liabilities rose to $1.1B, indicating the larger operating footprint came with a thicker claims burden. The current ratio dropped from 3.7x to 1.0x, shifting short-term coverage from substantial cushion to near parity.

Financial Health Signals

Financial Health Score 35/100

Scored as: Banks peer group

Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Riot Platforms, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Earnings

Riot Platforms, Inc. earned a return on assets of -16.9% in fiscal year 2025, which is the profit it made on every dollar of assets on its books. This is down from 2.8% the prior year. Earnings ranks banks on that return over three years, and Riot Platforms, Inc. scores 8/100 among other banks.

Growth

Riot Platforms, Inc. reported revenue of $647.4M in fiscal year 2025, against $376.7M in fiscal year 2024. Growth ranks banks on the three-year path of their net revenue, which is interest income and fee income less the interest they pay out, and Riot Platforms, Inc. scores 92/100 among other banks.

Capital

Riot Platforms, Inc. funded 72.6% of its assets with shareholders' equity at the end of fiscal year 2025, holding $2.9B of equity against $3.9B of assets. Capital ranks banks on that cushion, and Riot Platforms, Inc. scores 97/100 among other banks.

Efficiency

Not available for Riot Platforms, Inc., and counted as zero in the overall score.

Credit Quality

Not available for Riot Platforms, Inc., and counted as zero in the overall score.

Stability

Riot Platforms, Inc. reported a net loss of $663.2M in fiscal year 2025, against $109.4M in fiscal year 2024. Stability ranks banks on how steady net income has been across five years, and Riot Platforms, Inc. scores 14/100 among other banks.

Piotroski F-Score Partial

2/8

Riot Platforms, Inc. passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality No Cash Backing

N/A

Riot Platforms, Inc. reported a net loss of $663.2M while operations used $572.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

Revenue

$174.2M

YoY+13.9%

QoQ+4.2%

5Y CAGR+38.4%

Riot Platforms, Inc. generated $174.2M in revenue in Q2 2026. This represents an increase of 13.9% from the same quarter a year earlier. Against the prior quarter it is up 4.2%.

EBITDA

-$141.6M

YoY-147.3%

QoQ+64.8%

Riot Platforms, Inc.'s EBITDA was -$141.6M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 147.3% from the same quarter a year earlier. Against the prior quarter it is up 64.8%.

Net Income

-$237.2M

YoY-208.1%

QoQ+52.6%

Riot Platforms, Inc. reported -$237.2M in net income in Q2 2026. This represents a decrease of 208.1% from the same quarter a year earlier. Against the prior quarter it is up 52.6%.

EPS (Diluted)

-$0.68

YoY-217.2%

QoQ+52.8%

Riot Platforms, Inc. earned -$0.68 per diluted share (EPS) in Q2 2026. This represents a decrease of 217.2% from the same quarter a year earlier. Against the prior quarter it is up 52.8%.

Cash & Balance Sheet

Free Cash Flow

-$150.9M

YoY+48.3%

QoQ+49.4%

Riot Platforms, Inc. recorded an outflow of $150.9M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents an increase of 48.3% from the same quarter a year earlier. Against the prior quarter it is up 49.4%.

Cash & Debt

$471.4M

YoY+84.6%

QoQ+129.2%

5Y CAGR+26.2%

10Y CAGR+59.3%

Riot Platforms, Inc. held $471.4M in cash against $588.4M in long-term debt as of Q2 2026.

Shares Outstanding

375M

YoY+1.5%

QoQ-0.8%

5Y CAGR+31.4%

10Y CAGR+58.0%

Riot Platforms, Inc. had 375M shares outstanding in Q2 2026. This represents an increase of 1.5% from the same quarter a year earlier. Against the prior quarter it is down 0.8%.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Return on Equity

-10.8%

YoY-17.5pp

QoQ+10.1pp

5Y change-13.5pp

Riot Platforms, Inc.'s ROE was -10.8% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 17.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 10.1 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Net Margin

Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Capital Allocation

Share Buybacks

$499K

YoY+384.5%

QoQ-75.3%

5Y CAGR+34.8%

Riot Platforms, Inc. spent $499K on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 384.5% from the same quarter a year earlier. Against the prior quarter it is down 75.3%.

Capital Expenditures

$60.7M

YoY+0.6%

QoQ-47.4%

5Y CAGR+65.7%

Riot Platforms, Inc. invested $60.7M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 0.6% from the same quarter a year earlier. Against the prior quarter it is down 47.4%.

R&D Spending

Not reported for Q2 2026.

RIOT Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

RIOT quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$674.5M	$647.4M+71.9%	$376.7M+34.2%	$280.7M+8.3%	$259.2M+21.5%	$213.2M+1665.1%	$12.1M+76.7%	$6.8M-12.8%	$7.8M+2809.3%	$270K+2763.8%	$9K-90.7%	$101K-39.3%	$167K+197.8%	$56K+34.9%	$42K-81.1%	$219K
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	$6.3M+2.5%	$6.1M+4.8%	$5.8M+23008.1%	$25K+723.6%	$3K-90.0%	$31K-57.2%	$71K+237.2%	$21K+3479.9%	$592-96.4%	$16K
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	$5.8M+687.8%	$740K-63.5%	$2.0M+728.3%	$244K+3745.1%	$6K-91.0%	$71K-25.9%	$95K+173.8%	$35K-14.9%	$41K-79.8%	$203K
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$20K-92.0%	$249K-88.5%	$2.2M-46.5%	$4.0M-39.8%	$6.7M+74.7%	$3.8M-32.3%	$5.7M
SG&A Expenses	$309.6M	$298.8M+11.9%	$266.9M+166.0%	$100.3M+48.8%	$67.5M-22.8%	$87.4M0.0%	$87.4M+854.6%	$9.2M-56.1%	$20.9M+185.2%	$7.3M+65.8%	$4.4M-34.7%	$6.8M+3.0%	$6.6M+18.9%	$5.5M+6.4%	$5.2M-7.0%	$5.6M
Operating Income	-$1.3B	-$622.2M-505.1%	$153.6M+343.6%	-$63.0M+87.7%	-$512.7M-1616.4%	-$29.9M-92.2%	-$15.5M-65.1%	-$9.4M+84.1%	-$59.4M-351.3%	-$13.2M-153.3%	-$5.2M+40.6%	-$8.7M+15.9%	-$10.4M+14.0%	-$12.1M-35.1%	-$9.0M+18.4%	-$11.0M
EBITDA	N/A	-$279.4M-177.6%	$359.8M+96.1%	$183.5M+145.1%	-$406.8M-10690.5%	-$3.8M-135.0%	$10.8M+215.9%	-$9.3M+82.8%	-$54.1M-341.1%	-$12.3M-140.5%	-$5.1M+40.0%	-$8.5M+16.0%	-$10.1M+14.1%	-$11.8M-38.0%	-$8.5M+18.6%	-$10.5M
Interest Expense	N/A	N/A	N/A	N/A	N/A	$296K	N/A	$122K-0.8%	$123K-97.4%	$4.8M+15836.6%	$30K-69.5%	$99K-14.8%	$116K-14.1%	$135K-45.5%	$248K+37.5%	$181K
Income Tax	N/A	-$150K-120.2%	$744K+114.6%	-$5.1M+56.7%	-$11.7M-4725.6%	$254K	N/A	-$143K+79.5%	-$699K+56.6%	-$1.6M	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$1.3B	-$663.2M-706.2%	$109.4M+321.1%	-$49.5M+90.3%	-$509.6M-3200.9%	-$15.4M-9.4%	-$14.1M+29.6%	-$20.0M+65.5%	-$58.0M-192.3%	-$19.8M-364.5%	-$4.3M+51.2%	-$8.8M+16.1%	-$10.4M+14.0%	-$12.1M-31.9%	-$9.2M+9.8%	-$10.2M
EPS (Basic)	N/A	-$1.95-587.5%	$0.40+242.9%	-$0.28+92.3%	-$3.65-2047.1%	-$0.17+50.0%	-$0.34+66.7%	-$1.02	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	-$3.89	-$1.95-673.5%	$0.34	-$0.28+92.3%	-$3.65	-$0.17	-$0.33	-$1.02	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Diluted Shares (Avg)	N/A	341M+6.8%	319M	175M+25.5%	139M	93M	42M	20M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$174.2M+13.9%	$167.2M+3.6%	$152.8M+7.2%	$180.2M+112.6%	$153.0M+118.5%	$161.4M+103.5%	$142.6M+80.9%	$84.8M+63.4%
SG&A Expenses	$82.0M+8.0%	$76.2M+6.6%	$81.6M+0.6%	$69.8M+4.3%	$75.9M+24.0%	$71.4M+23.9%	$81.1M+109.3%	$66.9M+130.3%
Operating Income	-$239.4M-210.8%	-$499.9M-113.7%	-$684.5M-463.7%	$80.1M+165.9%	$216.1M+284.7%	-$233.9M-214.7%	$188.2M+448.6%	-$121.5M-47.2%
EBITDA	-$141.6M-147.3%	-$402.1M-157.9%	-$585.7M-321.3%	$163.0M+365.0%	$299.3M+475.5%	-$155.9M-166.0%	$264.7M+191.8%	-$61.5M-242.2%
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	$679K+959.5%	$32K+120.4%
Net Income	-$237.2M-208.1%	-$500.5M-68.9%	-$690.7M-606.3%	$104.5M+167.7%	$219.5M+359.9%	-$296.4M-239.9%	$136.4M+245.9%	-$154.4M-92.9%
EPS (Basic)	-$0.68-204.6%	-$1.44-60.0%	-$2.03-506.0%	$0.30+155.6%	$0.65+303.1%	-$0.90-276.5%	$0.50+100.0%	-$0.54-22.7%
EPS (Diluted)	-$0.68-217.2%	-$1.44-60.0%	-$2.03-561.4%	$0.26+148.1%	$0.58+281.2%	-$0.90-276.5%	$0.44	-$0.54
Diluted Shares (Avg)	348M-9.1%	348M+5.5%	N/A	403M+40.9%	383M+44.6%	330M+32.0%	N/A	286M

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Interest Expense.

RIOT Balance Sheet

RIOT quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$3.9B0.0%	$3.9B+91.9%	$2.1B+55.4%	$1.3B-13.3%	$1.5B+443.3%	$280.1M+822.1%	$30.4M+119.2%	$13.9M-73.5%	$52.3M+207.1%	$17.0M-18.3%	$20.9M-27.4%	$28.7M+54.1%	$18.6M+12.2%	$16.6M+90.4%	$8.7M
Current Assets	$448.7M-25.1%	$599.5M-40.6%	$1.0B+127.5%	$443.4M-21.5%	$564.6M+139.0%	$236.3M+1771.0%	$12.6M+446.4%	$2.3M-94.5%	$42.4M+208.4%	$13.7M-16.3%	$16.4M-34.1%	$24.9M+68.7%	$14.8M+17.8%	$12.5M+189.9%	$4.3M
Cash & Equivalents	$233.5M-16.0%	$277.9M-53.5%	$597.2M+159.3%	$230.3M-26.3%	$312.3M+39.8%	$223.4M+2902.4%	$7.4M+3206.7%	$225K-99.5%	$41.7M+653.2%	$5.5M+174.8%	$2.0M-43.2%	$3.5M-37.4%	$5.7M-48.5%	$11.0M+269.9%	$3.0M
Short-Term Investments	$0	$0	$0	$0-100.0%	$10.8M	$0	$0	$0-100.0%	$200K-97.3%	$7.5M-46.9%	$14.1M-32.6%	$21.0M+143.0%	$8.6M+643.2%	$1.2M+15.9%	$1.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$416K	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$29.8M+9.8%	$27.1M+9.8%	$24.7M-8.3%	$26.9M+74.9%	$15.4M	N/A	N/A	N/A	N/A	$5K	N/A	$17K0.0%	$17K	$0-100.0%	$35K
Long-Term Investments	$17.9M-8.7%	$19.6M+49.0%	$13.1M+4132.6%	$310K0.0%	$310K0.0%	$310K-96.8%	$9.7M+3.3%	$9.4M+213.8%	$3.0M	$0-100.0%	$972K	$0	$0	$0	$0
Goodwill	$122.5M+0.5%	$121.9M	N/A	N/A	$335.6M	N/A	N/A	N/A	$1.2M+206.4%	$387K-13.6%	$448K0.0%	$448K+15.7%	$387K0.0%	$387K0.0%	$387K
Total Liabilities	$1.1B+36.2%	$791.6M+385.5%	$163.1M-3.2%	$168.5M-2.9%	$173.6M+5544.3%	$3.1M-25.8%	$4.1M-55.8%	$9.4M+246.0%	$2.7M+27.7%	$2.1M-55.7%	$4.8M-4.9%	$5.0M-11.4%	$5.7M-3.9%	$5.9M+20.8%	$4.9M
Current Liabilities	$469.8M+192.9%	$160.4M+32.5%	$121.0M-0.4%	$121.5M+10.6%	$109.9M+4484.0%	$2.4M-28.9%	$3.4M-49.4%	$6.7M+539.9%	$1.0M-1.4%	$1.1M-41.1%	$1.8M+0.5%	$1.8M-20.8%	$2.2M-44.9%	$4.1M+96.9%	$2.1M
Non-Current Liabilities	$608.6M-3.6%	$631.2M+1401.4%	$42.0M-10.5%	$47.0M-26.3%	$63.7M+9287.5%	$679K-12.5%	$776K-71.4%	$2.7M+62.6%	$1.7M+56.5%	$1.1M-64.5%	$3.0M-7.9%	$3.3M-5.4%	$3.4M+86.5%	$1.8M-34.8%	$2.8M
Long-Term Debt	$586.9M+0.4%	$584.3M+110985.7%	$526K	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$2.9B-9.1%	$3.1B+66.5%	$1.9B+64.0%	$1.2B-14.6%	$1.3B+389.2%	$275.6M+950.3%	$26.2M+353.5%	$5.8M-88.2%	$48.9M+227.5%	$14.9M-7.2%	$16.1M-32.1%	$23.7M+82.9%	$12.9M+21.1%	$10.7M+179.4%	$3.8M
Retained Earnings	-$1.4B-96.1%	-$690.4M+13.7%	-$799.8M-5.7%	-$756.3M-206.5%	-$246.8M-7.3%	-$229.9M-5.8%	-$217.2M-10.2%	-$197.2M-41.6%	-$139.3M-26.8%	-$109.9M-4.0%	-$105.6M-9.0%	-$96.8M-12.1%	-$86.4M-16.4%	-$74.2M-14.2%	-$65.0M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$3.3B-23.8%	$3.4B-7.6%	$3.9B0.0%	$4.5B+53.3%	$4.3B+57.3%	$3.7B+42.4%	$3.9B+91.9%	$2.9B+100.8%
Current Assets	$725.7M+40.6%	$462.7M+2.9%	$448.7M-25.1%	$528.6M-26.3%	$516.1M-30.6%	$449.6M-42.7%	$599.5M-40.6%	$716.9M+39.6%
Cash & Equivalents	$471.4M+84.6%	$205.7M+25.6%	$233.5M-16.0%	$330.7M-7.0%	$255.4M-46.9%	$163.7M-76.2%	$277.9M-53.5%	$355.7M+22.6%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$42.4M+66.9%	$66.6M+241.0%	$29.8M+9.8%	$26.5M+72.9%	$25.4M+85.9%	$19.5M+37.6%	$27.1M+9.8%	$15.3M+21.0%
Long-Term Investments	$26.1M+27.2%	$16.7M-14.2%	$17.9M-8.7%	$23.4M+86.3%	$20.5M+57.6%	$19.4M+62.2%	$19.6M+49.0%	$12.6M+123.7%
Goodwill	$122.5M0.0%	$122.5M+0.3%	$122.5M+0.5%	$122.5M+26.6%	$122.5M	$122.2M	$121.9M	$96.8M
Total Liabilities	$1.1B+8.2%	$1.0B+34.8%	$1.1B+36.2%	$974.1M+462.2%	$989.5M+611.5%	$774.2M+469.9%	$791.6M+385.5%	$173.3M+51.1%
Current Liabilities	$457.7M+22.1%	$429.3M+208.2%	$469.8M+192.9%	$358.5M+184.0%	$374.9M+285.3%	$139.3M+50.4%	$160.4M+32.5%	$126.2M+77.5%
Non-Current Liabilities	$613.2M-0.2%	$614.0M-3.3%	$608.6M-3.6%	$615.5M+1208.5%	$614.6M+1371.0%	$634.9M+1369.9%	$631.2M+1401.4%	$47.0M+8.0%
Long-Term Debt	$588.4M+0.5%	$587.7M+0.5%	$586.9M+0.4%	$586.5M+10373.2%	$585.8M	$585.0M	$584.3M+110985.7%	$5.6M
Total Equity	$2.2B-33.5%	$2.4B-18.7%	$2.9B-9.1%	$3.5B+27.5%	$3.3B+27.5%	$2.9B+19.0%	$3.1B+66.5%	$2.7B+99.1%
Retained Earnings	-$2.1B-172.5%	-$1.9B-87.9%	-$1.4B-96.1%	-$662.9M+19.8%	-$767.3M-14.1%	-$986.8M-67.8%	-$690.4M+13.7%	-$826.9M+6.6%

Not reported in any period shown, so not listed: Inventory.

RIOT Cash Flow Statement

RIOT quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	-$492.3M	-$572.9M-124.6%	-$255.1M-870.9%	$33.1M+6142.5%	$530K+100.6%	-$86.1M-2921.5%	-$2.8M+81.5%	-$15.4M+19.1%	-$19.1M-329.1%	-$4.4M+19.6%	-$5.5M+19.6%	-$6.9M+25.4%	-$9.2M+5.4%	-$9.7M-77.3%	-$5.5M+34.1%	-$8.3M
Depreciation & Amortization	N/A	$342.8M+66.2%	$206.2M-16.3%	$246.5M+132.8%	$105.9M+305.7%	$26.1M-0.9%	$26.3M+22021.0%	$119K-97.7%	$5.3M+491.2%	$891K+854.7%	$93K-63.2%	$254K-12.1%	$289K-11.6%	$327K-24.1%	$430K-12.3%	$491K
Stock-Based Compensation	N/A	$125.7M+0.4%	$125.2M+289.2%	$32.2M+31.0%	$24.6M-64.1%	$68.5M+1910.3%	$3.4M+357.3%	$745K-84.0%	$4.7M+79.9%	$2.6M+374.7%	$546K-52.3%	$1.1M+8.3%	$1.1M-26.6%	$1.4M+54.5%	$931K-30.3%	$1.3M
Capital Expenditures	$284.3M	$201.4M-16.2%	$240.3M+24.1%	$193.7M+30.5%	$148.4M+0.9%	$147.1M+1707.5%	$8.1M+64.2%	$5.0M-75.4%	$20.2M	N/A	$35K	N/A	$30K+14.5%	$26K-39.8%	$44K-51.5%	$90K
Free Cash Flow	-$776.7M	-$774.3M-56.3%	-$495.4M-208.4%	-$160.6M-8.6%	-$147.9M+36.6%	-$233.2M-2022.3%	-$11.0M+46.1%	-$20.4M+48.1%	-$39.2M	N/A	-$5.6M	N/A	-$9.2M+5.4%	-$9.8M-76.3%	-$5.5M+34.3%	-$8.4M
Investing Cash Flow	$630.9M	$76.1M+105.0%	-$1.5B-263.8%	-$414.8M-16.9%	-$354.9M+27.7%	-$490.6M-1092.9%	-$41.1M-1165.9%	-$3.2M+86.9%	-$24.9M-545.6%	$5.6M-40.3%	$9.3M	N/A	N/A	-$7.6M-2314.1%	-$316K-119.6%	$1.6M
Financing Cash Flow	$80.0M	$455.3M-70.0%	$1.5B+102.8%	$748.5M+174.8%	$272.3M-59.1%	$665.6M+156.1%	$259.9M+904.4%	$25.9M+940.6%	$2.5M-92.9%	$35.0M+11344.6%	-$311K	N/A	N/A	$12.0M-12.8%	$13.8M+1666.2%	$782K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$9.6M	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$6.2M	$4.3M-62.9%	$11.6M-17.6%	$14.0M+38.4%	$10.1M+99.5%	$5.1M+1039.5%	$446K	N/A	N/A	$392K	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$90.1M+61.0%	-$182.7M-49.6%	-$105.5M-7.3%	-$114.0M-102.4%	-$231.3M-444.1%	-$122.1M-111.0%	-$98.4M-318.4%	-$56.3M-813.6%
Depreciation & Amortization	$97.8M+17.5%	$97.7M+25.4%	$98.7M+29.0%	$82.9M+38.2%	$83.2M+122.9%	$77.9M+140.9%	$76.5M+35.6%	$60.0M-7.1%
Stock-Based Compensation	$35.6M+18.1%	$39.2M+32.4%	N/A	$32.9M+7.5%	$30.1M-6.3%	$29.6M-7.6%	N/A	$30.6M+126.1%
Capital Expenditures	$60.7M+0.6%	$115.5M+251.4%	$82.5M+41.7%	$25.7M-64.0%	$60.4M+12.8%	$32.9M-42.7%	$58.2M+27.9%	$71.3M+74.8%
Free Cash Flow	-$150.9M+48.3%	-$298.1M-92.4%	-$188.0M-20.1%	-$139.7M-9.5%	-$291.7M-203.7%	-$154.9M-34.5%	-$156.6M-33935.2%	-$127.6M-171.8%
Investing Cash Flow	$357.0M+1758.4%	$157.8M+366.4%	-$2.5M+99.7%	$118.7M+157.7%	$19.2M+105.9%	-$59.2M+69.5%	-$782.6M-329.1%	-$205.5M-64.5%
Financing Cash Flow	-$499K-100.2%	-$2.4M-103.5%	$11.5M-98.6%	$71.5M-65.8%	$304.5M+88.7%	$67.9M-80.3%	$803.9M+80.9%	$209.0M+58.3%
Share Buybacks	$499K+384.5%	$2.0M+317.4%	$1.1M+1153.6%	$2.6M+273.6%	$103K-98.8%	$484K-75.8%	$84K-23.6%	$709K-27.2%

Not reported in any period shown, so not listed: Dividends Paid.

RIOT Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

RIOT quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	N/A	N/A	N/A	N/A	N/A	48.3%+37.4pp	10.8%-15.0pp	25.8%-64.8pp	90.7%+23.1pp	67.5%-2.3pp	69.8%+12.6pp	57.2%-5.0pp	62.2%-36.4pp	98.6%+6.0pp	92.5%
Operating Margin	-96.1%-136.9pp	40.8%+63.2pp	-22.5%	-197.8%	-14.0%	-128.7%	-137.7%	-756.7%	-4878.2%	-55144.1%	-8628.9%	-6231.0%	-21586.6%	-21564.8%	-5002.4%
Net Margin	-102.4%	29.0%+46.7pp	-17.6%	-196.6%	-7.2%	-116.8%	-293.1%	-739.4%	-7359.7%	-45378.5%	-8637.7%	-6255.0%	-21667.7%	-22167.7%	-4654.9%
Return on Equity	-23.2%-26.7pp	3.5%+6.1pp	-2.6%+41.6pp	-44.3%-43.1pp	-1.1%+4.0pp	-5.1%+71.2pp	-76.4%+926.0pp	-1002.4%-961.8pp	-40.6%-12.0pp	-28.6%+25.9pp	-54.5%-10.4pp	-44.1%+49.7pp	-93.8%-7.6pp	-86.2%+180.8pp	-267.0%
Return on Assets	-16.9%-19.6pp	2.8%+5.2pp	-2.4%+36.2pp	-38.6%-37.6pp	-1.0%+4.0pp	-5.0%+60.9pp	-66.0%+352.6pp	-418.5%-380.6pp	-37.9%-12.8pp	-25.1%+16.9pp	-42.0%-5.6pp	-36.4%+28.8pp	-65.2%-9.7pp	-55.5%+61.6pp	-117.0%
Current Ratio	0.96-2.8x	3.74-4.6x	8.33+4.7x	3.65-1.5x	5.14-93.4x	98.57+94.8x	3.75+3.4x	0.35-40.4x	40.74+27.7x	13.03+3.9x	9.16-4.8x	13.97+7.4x	6.56+3.5x	3.07+1.0x	2.09
Debt-to-Equity	0.210.0x	0.19+0.2x	0.00-0.1x	0.150.0x	0.13+0.1x	0.01-0.1x	0.16-1.5x	1.62+1.6x	0.06-0.1x	0.14-0.2x	0.30+0.1x	0.21-0.2x	0.44-0.1x	0.55-0.7x	1.28
Asset Turnover	0.16+0.1x	0.100.0x	0.14-0.1x	0.20+0.1x	0.14+0.1x	0.04-0.2x	0.23-0.3x	0.57+0.6x	0.010.0x	0.000.0x	0.000.0x	0.010.0x	0.000.0x	0.000.0x	0.03
FCF Margin	-119.6%	-131.5%	-57.2%-0.2pp	-57.1%	-109.4%	-91.0%	-298.0%	-500.3%	N/A	-58996.9%	N/A	-5530.6%	-17400.3%	-13313.4%	-3838.8%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Margin	-137.4%	-298.9%	-447.9%	44.4%	141.3%	-144.9%	132.0%	-143.3%
Net Margin	-136.1%	-299.3%	-452.0%	58.0%	143.5%	-183.6%	95.7%+45.6pp	-182.1%
Return on Equity	-10.8%-17.5pp	-20.9%-10.8pp	-24.2%-28.5pp	3.0%+8.6pp	6.7%+9.9pp	-10.1%-18.6pp	4.3%+2.3pp	-5.6%+0.2pp
Return on Assets	-7.3%-12.4pp	-14.6%-6.6pp	-17.5%-21.0pp	2.3%+7.6pp	5.1%+8.2pp	-8.0%-16.1pp	3.5%+1.6pp	-5.3%+0.2pp
Current Ratio	1.59+0.2x	1.08-2.1x	0.96-2.8x	1.47-4.2x	1.38-6.3x	3.23-5.2x	3.74-4.6x	5.68-1.5x
Debt-to-Equity	0.27+0.1x	0.250.0x	0.210.0x	0.17+0.2x	0.18+0.1x	0.20+0.1x	0.19+0.2x	0.00-0.1x
Asset Turnover	0.050.0x	0.050.0x	0.040.0x	0.040.0x	0.040.0x	0.040.0x	0.040.0x	0.030.0x
FCF Margin	-86.6%	-178.3%	-123.0%	-77.5%	-190.7%	-96.0%	-109.8%	-150.5%

Not reported in any period shown, so not listed: Gross Margin.

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.

Note: The current ratio is below 1.0 (0.96), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Riot Platforms, Inc. RIOT	FY2025	$647.4M	-$663.2M	N/A	$6.3B	35/100
MARA Holdings, Inc. MARA	FY2025	$907.1M	-$1.3B	N/A	$4.0B	33/100
TeraWulf Inc. WULF	FY2025	$168.5M	-$661.4M	N/A	$7.2B	20/100
Piper Sandler Companies PIPR	FY2025	$1.9B	$281.3M	14.8%	$4.5B	53/100
MOELIS & COMPANY MC	FY2025	N/A	$259.6M	N/A	$4.2B	—
Lazard, Inc. LAZ	FY2025	$3.1B	$237.0M	7.6%	$3.5B	44/100

Where Riot Platforms, Inc. Ranks

Frequently Asked Questions

What is Riot Platforms, Inc.'s annual revenue?

Riot Platforms, Inc. (RIOT) reported $647.4M in total revenue for fiscal year 2025. This represents a 71.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Riot Platforms, Inc.'s revenue growing?

Riot Platforms, Inc. (RIOT) revenue grew by 71.9% year-over-year, from $376.7M to $647.4M in fiscal year 2025.

Is Riot Platforms, Inc. profitable?

No, Riot Platforms, Inc. (RIOT) reported a net income of -$663.2M in fiscal year 2025.

What is Riot Platforms, Inc.'s EBITDA?

Riot Platforms, Inc. (RIOT) had EBITDA of -$279.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Riot Platforms, Inc. have?

As of fiscal year 2025, Riot Platforms, Inc. (RIOT) had $233.5M in cash and equivalents against $586.9M in long-term debt.

What is Riot Platforms, Inc.'s operating margin?

Riot Platforms, Inc. (RIOT) had an operating margin of -96.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Riot Platforms, Inc.'s return on equity (ROE)?

Riot Platforms, Inc. (RIOT) has a return on equity of -23.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Riot Platforms, Inc.'s free cash flow?

Riot Platforms, Inc. (RIOT) recorded an outflow of $774.3M in free cash flow during fiscal year 2025. This represents a -56.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Riot Platforms, Inc.'s operating cash flow?

Riot Platforms, Inc. (RIOT) recorded an outflow of $572.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Riot Platforms, Inc.'s total assets?

Riot Platforms, Inc. (RIOT) had $3.9B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Riot Platforms, Inc.'s capital expenditures?

Riot Platforms, Inc. (RIOT) invested $201.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Riot Platforms, Inc. buy back shares?

Yes, Riot Platforms, Inc. (RIOT) spent $4.3M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Riot Platforms, Inc. have outstanding?

Riot Platforms, Inc. (RIOT) had 379M shares outstanding as of fiscal year 2025.

What is Riot Platforms, Inc.'s current ratio?

Riot Platforms, Inc. (RIOT) had a current ratio of 0.96 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Riot Platforms, Inc.'s debt-to-equity ratio?

Riot Platforms, Inc. (RIOT) had a debt-to-equity ratio of 0.21 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Riot Platforms, Inc.'s return on assets (ROA)?

Riot Platforms, Inc. (RIOT) had a return on assets of -16.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Riot Platforms, Inc.'s P/E ratio?

Riot Platforms, Inc. (RIOT) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $6.3B as of Oct 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Riot Platforms, Inc.'s price-to-sales ratio?

Riot Platforms, Inc. (RIOT) trades at 9.4x sales, its market capitalization divided by revenue of $674.5M revenue, trailing 12 months to June 30, 2026. The market capitalization is $6.3B as of Oct 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Riot Platforms, Inc.'s Piotroski F-Score?

Riot Platforms, Inc. (RIOT) has a Piotroski F-Score of 2 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Riot Platforms, Inc.'s earnings high quality?

Riot Platforms, Inc. (RIOT) reported a net loss of $663.2M while operations used $572.9M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Riot Platforms, Inc.?

Riot Platforms, Inc. (RIOT) scores 35 out of 100 on our Financial Health Score, indicating weak standing within its banks peer group. The score is a 0-100 composite of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.