Latest Ratios: P/E Ratio 3.1x · EV/EBITDA 0.5x · ROE 36.7%. (2021–2024 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 |
|---|---|---|---|---|---|
| Market Cap | $163M | — | — | — | — |
| Enterprise Value | $49M | — | — | — | — |
| P/E Ratio → | 3.10 | — | — | — | — |
| P/S Ratio | 0.54 | — | — | — | — |
| P/B Ratio | 0.98 | — | — | — | — |
| P/FCF | — | — | — | — | — |
| P/OCF | — | — | — | — | — |
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 |
|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — |
| EV / EBITDA | 0.53 | — | — | — | — |
| EV / EBIT | 0.60 | — | — | — | — |
| EV / FCF | — | — | — | — | — |
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 |
|---|---|---|---|---|---|
| Gross Margin | 42.2% | 42.2% | 77.4% | 59.3% | 69.1% |
| Operating Margin | 27.0% | 27.0% | 67.5% | -3.8% | 44.2% |
| Net Profit Margin | 21.8% | 21.8% | 54.3% | -1.5% | 35.8% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| ROE | 36.7% | 36.7% | 176.8% | -2.3% | 79.7% |
| ROA | 28.5% | 28.5% | 137.3% | -1.6% | 51.2% |
| ROIC | 61.8% | 61.8% | 234.5% | -5.9% | 118.6% |
| ROCE | 45.4% | 45.4% | 219.1% | -5.9% | 95.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.00 | — | — |
| Debt / EBITDA | 0.00 | 0.00 | 0.00 | — | — |
| Net Debt / Equity | — | -0.54 | -0.31 | -0.07 | -0.38 |
| Net Debt / EBITDA | -1.25 | -1.25 | -0.26 | -0.49 | -0.34 |
| Debt / FCF | — | — | — | — | — |
| Interest Coverage | — | — | 79.80 | -3.15 | 26.14 |
Net cash position: cash ($115M) exceeds total debt ($445403)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Current Ratio | 3.21 | 3.21 | 4.19 | 1.56 | 1.93 |
| Quick Ratio | 3.01 | 3.01 | 4.11 | 1.56 | 1.93 |
| Cash Ratio | 1.89 | 1.89 | 1.10 | 0.24 | 0.73 |
| Asset Turnover | — | 1.12 | 1.34 | 1.27 | 1.43 |
| Inventory Turnover | 13.98 | 13.98 | 16.43 | — | — |
| Days Sales Outstanding | — | 10.92 | 6.08 | 10.61 | 16.77 |
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 |
|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Earnings Yield | 32.2% | — | — | — | — |
| FCF Yield | — | — | — | — | — |
| Buyback Yield | 0.0% | — | — | — | — |
| Total Shareholder Yield | 0.0% | — | — | — | — |
| Shares Outstanding | — | $114M | $114M | $114M | $114M |
Network difficulty and halving
With a P/E ratio of 3.22 and an EV/EBITDA of 0.60, BGIN appears significantly undervalued compared to industry peers like IREN, suggesting that the market is heavily discounting the firm's future growth potential based on current reported financial figures and prevailing sector sentiment.
The current valuation multiples imply that investors are pricing in a high degree of cyclical risk, potentially ignoring the stability provided by the company's vertically integrated hosting services. This valuation gap warrants further investigation into whether the market is misclassifying BGIN as a pure-play mining entity rather than a diversified infrastructure provider.
As reported in financial statements, BGIN maintains a 42.24% gross margin, which stands out as a structural advantage over competitors who rely on third-party hardware, suggesting that proprietary chip design is effectively insulating the company from the commoditization pressures typical of the computer hardware industry.
The 27.01% operating margin indicates a lean cost structure that allows for significant profitability even during periods of market volatility. However, investors should monitor the 21.81% net margin closely, as it may be influenced by non-cash fair value adjustments of digital assets rather than purely operational efficiency.
According to recent SEC filings and financial disclosures, BGIN maintains a 0% debt-to-equity ratio, a stark contrast to the leverage-heavy capital structures of peers like Cipher Mining, which provides the firm with a unique defensive buffer against interest rate fluctuations and industry-wide cyclical downturns.
This debt-free position appears to grant management significant flexibility to pursue internal reinvestment or opportunistic asset acquisitions without the burden of debt service obligations. Such a conservative balance sheet strategy may be a critical differentiator in maintaining operational continuity during the upcoming Bitcoin halving cycle.
Based on an analysis of the firm's business model, the P/E ratio is the most commonly misapplied metric, as it fails to account for the non-cash fair value adjustments of digital assets that can artificially inflate or deflate earnings in any given reporting period.
Investors should instead focus on cash-based metrics or EV/EBITDA to better capture the underlying operational performance of the hosting and hardware segments. Relying solely on P/E may obscure the true cash-generating power of the business, leading to an inaccurate assessment of its long-term valuation.
Includes 30+ ratios · 4 years · Updated daily
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Quick answers to the most common questions about buying BGIN stock.
BGIN BLOCKCHAIN Ltd's current P/E ratio is 3.1x. This places it at the 50th percentile of its historical range.
BGIN BLOCKCHAIN Ltd's current EV/EBITDA is 0.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
BGIN BLOCKCHAIN Ltd's return on equity (ROE) is 36.7%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 72.7%.
Based on historical data, BGIN BLOCKCHAIN Ltd is trading at a P/E of 3.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
BGIN BLOCKCHAIN Ltd has 42.2% gross margin and 27.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
BGIN BLOCKCHAIN Ltd's Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.