Latest Ratios: P/E Ratio -58.5x · EV/EBITDA N/A · ROE N/A. (2018–2024 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | — | $4.2B | $5.7B | $1.4B | $10.3B | — | — | — |
| Enterprise Value | — | $4.2B | $5.8B | $1.5B | $10.4B | — | — | — |
| P/E Ratio → | -58.50 | — | — | — | 249.00 | — | — | — |
| P/S Ratio | — | 89.21 | 113.13 | 25.24 | 104.70 | — | — | — |
| P/B Ratio | — | — | 36146.50 | 58.63 | 37.90 | — | — | — |
| P/FCF | — | — | 2103.52 | — | — | — | — | — |
| P/OCF | — | — | 1492.94 | — | 145.98 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 89.88 | 114.22 | 26.21 | 105.27 | — | — | — |
| EV / EBITDA | — | — | 891.41 | 737.81 | 143.41 | — | — | — |
| EV / EBIT | — | — | — | — | 188.51 | — | — | — |
| EV / FCF | — | — | 2123.77 | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 33.2% | 33.2% | 42.1% | 4.8% | 70.7% | 9.1% | 33.9% | -8.4% |
| Operating Margin | -32.6% | -32.6% | -38.4% | -46.6% | 57.9% | -1.1% | 1.6% | -436.9% |
| Net Profit Margin | -117.2% | -117.2% | -69.3% | -390.8% | 42.1% | 7.6% | -10.1% | -538.5% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| ROE | — | — | -282.4% | -150.5% | 27.2% | 6.5% | -4.2% | -19.2% |
| ROA | -115.8% | -115.8% | -37.6% | -89.6% | 19.2% | 5.1% | -3.8% | -19.0% |
| ROIC | -31.3% | -31.3% | -17.8% | -9.0% | 22.0% | -0.6% | 0.5% | -11.7% |
| ROCE | -52.7% | -52.7% | -28.2% | -13.2% | 32.3% | -0.8% | 0.7% | -15.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | 395.68 | 3.09 | 0.27 | 0.31 | 0.05 | — |
| Debt / EBITDA | — | — | 9.65 | 37.40 | 1.01 | 1.31 | 0.46 | — |
| Net Debt / Equity | — | — | 348.64 | 2.27 | 0.21 | 0.22 | 0.04 | -0.76 |
| Net Debt / EBITDA | — | — | 8.50 | 27.49 | 0.79 | 0.95 | 0.39 | — |
| Debt / FCF | — | — | 20.26 | — | — | 9.80 | — | — |
| Interest Coverage | -2.18 | -2.18 | -1.63 | -1.19 | 19.05 | 11.88 | -17.18 | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.24 | 1.24 | 0.54 | 1.28 | 2.85 | 2.01 | 0.82 | 84.96 |
| Quick Ratio | 1.24 | 1.24 | 0.54 | 1.28 | 2.85 | 2.01 | 0.82 | 84.96 |
| Cash Ratio | 0.91 | 0.91 | 0.27 | 0.94 | 0.22 | 0.47 | 0.04 | 74.99 |
| Asset Turnover | — | 2.44 | 0.67 | 0.52 | 0.25 | 0.58 | 0.35 | 0.04 |
| Inventory Turnover | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | 0.4% | — | — | — |
| FCF Yield | — | — | 0.0% | — | — | — | — | — |
| Buyback Yield | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $608M | $504M | $474M | $415M | $335M | $294M | $186M |
Insolvency and liquidity constraints
As reported in recent financial statements, ARBKL's ROIC has remained consistently negative, reaching -7.2% in 2024Q4, which underscores the company's inability to generate sufficient returns on its invested capital compared to the historical benchmarks of the broader digital asset mining sector.
The persistent negative ROIC suggests that the capital deployed into mining infrastructure is failing to cover the cost of operations and asset depreciation. Investors should monitor whether the shift toward an asset-light model can eventually stabilize these returns or if the structural disadvantages of hosting-heavy operations will continue to erode shareholder value.
Based on quarterly data, the company's asset turnover ratio has stagnated at 0.42 as of 2024Q4, reflecting a significant decline in the efficiency with which the firm utilizes its remaining physical infrastructure to generate revenue compared to its historical performance.
The low asset turnover ratio indicates that the current fleet is struggling to produce meaningful output relative to the capital tied up in the business. This inefficiency appears to be a direct consequence of the transition away from owned, high-performance infrastructure toward a model that relies on third-party hosting, which may limit operational agility.
According to recent SEC filings, the company's interest coverage ratio of -2.97 in 2024Q4 highlights a precarious financial position where operating income is insufficient to meet debt obligations, raising significant concerns regarding the sustainability of the current capital structure under existing market conditions.
The negative interest coverage ratio suggests that the company is effectively relying on external financing or asset liquidations to service its debt. Investors should be wary of the potential for further dilutive equity raises or restructuring events, as the current cash flow generation appears inadequate to support the existing debt burden.
As indicated by the 2024Q4 financial reports, the current ratio of 1.24 provides a thin margin of safety, which appears insufficient given the high-burn nature of the business and the volatility inherent in Bitcoin mining revenue streams.
The liquidity position is heavily dependent on the rapid liquidation of mined assets, which introduces significant timing risk. If Bitcoin prices remain stagnant or network difficulty continues to rise, the company may face a liquidity crunch that could force further asset sales or emergency financing at unfavorable terms.
Market participants frequently overemphasize total hashrate growth as a primary indicator of success, yet this metric often obscures the underlying cost of production and the structural margin compression inherent in ARBKL's current hosting-heavy business model.
Investors should instead focus on the 'all-in' cost to mine a single Bitcoin, which accounts for both power costs and the depreciation of hardware. Relying on hashrate alone ignores the reality that growth in computing power is value-destructive if the cost to operate that power exceeds the market value of the rewards generated.
Includes 30+ ratios · 7 years · Updated daily
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Quick answers to the most common questions about buying ARBKL stock.
Argo Blockchain plc 8.75% Senior Notes due 2026's current P/E ratio is -58.5x. This places it at the 50th percentile of its historical range.
Based on historical data, Argo Blockchain plc 8.75% Senior Notes due 2026 is trading at a P/E of -58.5x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Argo Blockchain plc 8.75% Senior Notes due 2026 has 33.2% gross margin and -32.6% operating margin.