Latest Ratios: P/E Ratio -0.3x · EV/EBITDA N/A · ROE N/A. (2006–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $5M | $5M | $15M | $50M | $18M | $373M | $15M | $2M | $5M | $6M | — |
| Enterprise Value | $21M | $20M | $34M | $68M | $48M | $391M | $14M | $1M | $4M | $9M | — |
| P/E Ratio → | -0.27 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.14 | 0.12 | 0.25 | 1.15 | 0.21 | 8.51 | 3.35 | — | — | — | — |
| P/B Ratio | — | — | — | 1.65 | 0.23 | 3.26 | 1.97 | 3.54 | 22.65 | — | — |
| P/FCF | — | — | 9.26 | — | — | — | — | — | — | — | — |
| P/OCF | — | — | 4.17 | — | 1.23 | 16.26 | — | — | — | — | — |
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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.51 | 0.57 | 1.55 | 0.57 | 8.91 | 3.18 | — | — | — | — |
| EV / EBITDA | — | — | — | — | 2.31 | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | 21.21 | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 43.6% | 43.6% | 34.2% | 34.5% | 43.5% | 77.4% | 29.1% | — | — | — | — |
| Operating Margin | -50.0% | -50.0% | -52.6% | -138.4% | -52.3% | -97.3% | -130.6% | — | — | — | — |
| Net Profit Margin | -59.5% | -59.5% | -77.8% | -134.4% | -62.5% | -102.5% | -113.2% | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | -339.9% | -109.9% | -55.3% | -73.6% | -124.0% | -923.7% | -1546.7% | — | — |
| ROA | -39.8% | -39.8% | -63.1% | -53.7% | -37.9% | -58.0% | -91.6% | -150.7% | -164.0% | -893.4% | -296.2% |
| ROIC | -62.9% | -62.9% | -62.9% | -56.7% | -27.0% | -44.0% | -102.7% | -139.7% | -184.4% | — | — |
| ROCE | — | — | -201.3% | -93.3% | -39.5% | -64.2% | -142.5% | -848.7% | -1712.3% | — | — |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | 0.72 | 0.41 | 0.20 | 0.05 | 0.04 | 12.43 | — | — |
| Debt / EBITDA | — | — | — | — | 1.51 | — | — | — | — | — | — |
| Net Debt / Equity | — | — | — | 0.57 | 0.40 | 0.15 | -0.10 | -1.30 | -2.58 | — | — |
| Net Debt / EBITDA | — | — | — | — | 1.46 | — | — | — | — | — | — |
| Debt / FCF | — | — | 11.96 | — | — | — | — | — | — | — | — |
| Interest Coverage | -6.02 | -6.02 | -13.64 | -16.25 | -7.91 | -11.38 | -968.47 | -75.67 | -57.55 | -62.11 | -70.19 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.47 | 0.47 | 0.42 | 0.38 | 0.57 | 0.57 | 0.80 | 1.79 | 1.06 | 0.16 | 0.08 |
| Quick Ratio | 0.47 | 0.47 | 0.42 | 0.38 | 0.57 | 0.57 | 0.80 | 1.79 | 1.06 | 0.16 | 0.08 |
| Cash Ratio | 0.23 | 0.23 | 0.10 | 0.08 | 0.03 | 0.27 | 0.51 | 1.12 | 1.00 | 0.06 | 0.03 |
| Asset Turnover | — | 0.69 | 0.96 | 0.51 | 0.63 | 0.30 | 0.45 | — | — | — | — |
| 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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | 10.8% | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $1M | $891450 | $782950 | $634800 | $469200 | $59150 | $8766 | $4708 | $2866 | $2519 |
Insolvency and liquidity exhaustion
According to current market data, MIGI trades at a P/S multiple of 0.14, which, when compared to the broader sector, suggests that investors are heavily discounting the company's future revenue potential due to persistent operational losses and the ongoing contraction of its core mining hashrate.
The lack of a meaningful P/E or EV/EBITDA multiple highlights that the market is currently pricing the company as a distressed asset rather than a growth-oriented technology firm. This valuation suggests that the market expects further equity dilution or asset impairment, as the current price-to-sales ratio fails to account for the significant capital expenditure required to modernize the aging hardware fleet.
Based on reported financial statements, the company's ROIC has fluctuated significantly, reaching -20.8% in 2026Q1, which indicates that management has struggled to generate positive returns on invested capital compared to the more stable performance observed in industry peers like CleanSpark.
The erratic trend in ROIC suggests that the company's modular data center strategy has yet to achieve the necessary economies of scale to offset high fixed costs. Investors should monitor whether the company can improve its capital allocation efficiency, as the current negative returns imply that every dollar of new investment is currently eroding shareholder value rather than compounding it.
As reported in recent filings, the company's asset turnover ratio remains suppressed at 0.09 in 2026Q1, which, when contrasted with historical performance, indicates a significant decline in the efficiency with which the company utilizes its infrastructure to generate top-line revenue.
The elevated DSO of 188 days suggests that the company faces challenges in collecting payments from hosting clients, which further exacerbates the cash conversion cycle issues. This inefficiency in managing working capital appears to be a structural drag on liquidity, limiting the company's ability to pivot quickly in response to shifting Bitcoin network difficulty.
According to quarterly balance sheet data, the debt-to-equity ratio has reached 6.13, a level that signals extreme financial vulnerability when compared to the more conservative capital structures maintained by larger, more diversified mining peers in the North American market.
The negative interest coverage ratio of -1.15 in 2026Q1 confirms that the company is currently unable to service its debt obligations through operating income alone. This precarious leverage profile warrants close investigation, as it suggests that the company may be forced to seek high-cost financing or further dilute equity to avoid a potential default on its existing obligations.
Investors frequently misapply the P/S ratio to evaluate MIGI, which obscures the company's underlying cash burn and the high maintenance costs associated with its modular infrastructure, leading to an overly optimistic assessment of its true financial health compared to more efficient, large-scale mining operators.
Instead of relying on revenue-based multiples, analysts should focus on the cost of production per Bitcoin and the sustainability of the company's energy curtailment credits. These metrics provide a more accurate picture of the company's ability to survive market downturns, as the P/S ratio fails to capture the significant depreciation and interest expenses that currently dominate the income statement.
Includes 30+ ratios · 19 years · Updated daily
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Quick answers to the most common questions about buying MIGI stock.
Mawson Infrastructure Group, Inc.'s current P/E ratio is -0.3x. This places it at the 50th percentile of its historical range.
Based on historical data, Mawson Infrastructure Group, Inc. is trading at a P/E of -0.3x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Mawson Infrastructure Group, Inc. has 43.6% gross margin and -50.0% operating margin.