ARCC
Ares Capital Corporation
ARCC's fundamentals are mixed, but it looks expensive: trading at 16x earnings, above its usual 9.9x. Analysts expect earnings to hold roughly steady.
CIFR
Cipher Mining Inc.
There isn't enough reported data to score CIFR yet.
ARCC Fundamentals
| Metric | Status |
|---|---|
| Weak | |
| Healthy | |
| N/A | |
| N/A |
ARCC's profitability is currently healthy, but its revenue is weak. Free cash flow and net leverage aren't meaningful measures for financial services companies like ARCC.
CIFR Fundamentals
| Metric | Status |
|---|---|
| Weak | |
| Weak | |
| N/A | |
| N/A |
CIFR's revenue and profitability are currently weak. Free cash flow and net leverage aren't meaningful measures for financial services companies like CIFR.
ARCC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6.2x | $7.54 | -61% |
| Fair | 9.8x | $11.94 | -38% |
| Forward | 9.9x | $19.11 | — |
| Expensive | 15x | $17.95 | -6.1% |
| Current | 16x | $19.11 | — |
Historical ranges are pointers, not guarantees.
ARCC's PE is in its expensive range at 16x. On analysts' estimates for next year's earnings, today's price would be 9.9x, in its fair range.
CIFR PE Valuation
CIFR has no meaningful PE right now: it lost money over the past year.
ARCC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Stable | |
| Stable | |
| Strongly weakening | |
| Limited | |
| High |
Analysts expect ARCC's profitability to weaken, with its earnings and revenue holding steady.
CIFR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
CIFR has the edge over ARCC on the outlook, with more favorable earnings and revenue expectations.
ARCC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.92 | +58% |
| Q3 2026 | $1.22 | -39% |
| Q2 2026 | $1.35 | -34% |
| Q1 2026 | $1.63 | -20% |
| Q4 2025 | $1.86 | -24% |
| Q3 2025 | $1.99 | -24% |
| Q2 2025 | $2.04 | -29% |
| Q1 2025 | $2.04 | -30% |
| Q4 2024 | $2.44 | -9% |
ARCC has the edge over CIFR on earnings quality, reporting a profit while its opponent remains loss making.
CIFR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$3.06 | -$2.86 |
| Q2 2026 | -$2.85 | -$2.40 |
| Q1 2026 | -$2.32 | -$1.94 |
| Q4 2025 | -$2.15 | -$2.01 |
| Q3 2025 | -$0.20 | -$0.07 |
| Q2 2025 | -$0.45 | -850% |
| Q1 2025 | -$0.38 | -733% |
| Q4 2024 | -$0.14 | -$0.04 |
CIFR lost $3.06 per share over the past year, and its loss has widened in each of the last four quarters.
ARCC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2022 | $230M | -61% |
| Q1 2022 | $375M | -27% |
| Q4 2021 | $505M | +6.1% |
| Q3 2021 | $444M | -17% |
| Q2 2021 | $585M | +59% |
| Q4 2020 | $476M | +61% |
ARCC has the stronger quarterly revenue trend. Revenue is down 61% for ARCC versus down 63% for CIFR.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2022 | 53% | -31 points |
| Q1 2022 | 60% | -14 points |
| Q4 2021 | 77% | -3.6 points |
| Q3 2021 | 76% | -7.3 points |
| Q2 2021 | 84% | +7 points |
| Q1 2021 | 73% | N/A |
| Q4 2020 | 81% | +11 points |
| Q3 2020 | 84% | N/A |
ARCC's operating margin was 53% last quarter, down 31 points from the same quarter a year ago, near the bottom of its range since 2019.
CIFR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $26.7M | -63% |
| Q2 2026 | $24.8M | -43% |
| Q1 2026 | $34.8M | -29% |
| Q4 2025 | $59.7M | +41% |
| Q3 2025 | $71.7M | +198% |
| Q2 2025 | $43.6M | +18% |
| Q1 2025 | $49M | +1.7% |
| Q4 2024 | $42.2M | -2.8% |
CIFR's revenue has slid since its 2025 peak: $27M last quarter, down 63% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -269% | -217 points |
| Q2 2026 | -316% | -212 points |
| Q1 2026 | -329% | -251 points |
| Q4 2025 | -503% | -544 points |
| Q3 2025 | -52% | +327 points |
| Q2 2025 | -104% | -60 points |
| Q1 2025 | -78% | -175 points |
| Q4 2024 | 40% | +4 points |
CIFR's operating margin was −269% last quarter, down 217 points from the same quarter a year ago.
ARCC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.1B | +$1.8B |
| Q2 2026 | $336M | +$554M |
| Q1 2026 | $184M | +$483M |
| Q4 2025 | -$427M | -$159M |
| Q3 2025 | -$773M | -$252M |
| Q2 2025 | -$218M | +$1.1B |
| Q1 2025 | -$299M | -$278M |
| Q4 2024 | -$268M | +$91M |
ARCC has the edge over CIFR on cash generation, producing positive trailing cash flow while its opponent burns cash.
CIFR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.7B | -$1.4B |
| Q2 2026 | -$653.8M | -$566.3M |
| Q1 2026 | -$462.5M | -$390.7M |
| Q4 2025 | -$280.3M | -$204.2M |
| Q3 2025 | -$256.2M | -$173.1M |
| Q2 2025 | -$87.5M | -$54.3M |
| Q1 2025 | -$71.8M | -$37.3M |
| Q4 2024 | -$76.1M | +$38M |
CIFR's free cash flow was −$3.1B over the past year, against −$492M the year before. Free cash flow isn't a meaningful measure for financial services companies like CIFR.
ARCC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +2M shares |
| 1 year | +1.6% | +11M shares |
| 3 years | +24% | +138M shares |
| 5 years | +59% | +267M shares |
| Available history | +68% | +291M shares |
ARCC has the edge over CIFR on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2022 | — |
| Q1 2022 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | — |
| Q3 2020 | — |
CIFR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +7.4% | +30.3M shares |
| 1 year | +12% | +46.5M shares |
| 3 years | +75% | +188M shares |
| 5 years | +102% | +222M shares |
CIFR has 440M diluted shares, up 12% from a year ago, despite $151M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $19.7M |
| Q2 2026 | $45.2M |
| Q1 2026 | $3.8M |
| Q4 2025 | $82.3M |
| Q3 2025 | $3M |
| Q2 2025 | $3.2M |
| Q1 2025 | $1.1M |
| Q4 2024 | $16.9M |
CIFR spent $151M buying back its own shares over the past year, about six times what it spent the year before.
ARCC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2022 | 10.9x | High |
| Q1 2022 | 6.9x | High |
| Q4 2021 | 6.8x | High |
| Q3 2021 | 5.6x | High |
| Q2 2021 | 5.3x | High |
| Q1 2021 | 5.2x | High |
| Q4 2020 | 16.6x | High |
| Q3 2020 | 23.1x | High |
ARCC's net debt is about 11 years of its operating earnings (EBITDA), up from 5.3 years a year ago. Net leverage isn't a meaningful measure for financial services companies like ARCC.
CIFR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2025 | -2.3x | Net Cash |
| Q1 2025 | 125.4x | High |
| Q4 2024 | 0.5x | Very low |
| Q3 2024 | -0.7x | Net Cash |
| Q2 2024 | -1.2x | Net Cash |
| Q1 2024 | -0.9x | Net Cash |
| Q4 2023 | -2.2x | Net Cash |
| Q2 2023 | -0.1x | Net Cash |
CIFR has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like CIFR.
ARCC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 49.4 | Neutral |
| Stochastic | 42.5 | Neutral |
ARCC's weekly RSI is 49 (neutral) and its Stochastic is 42 (neutral).
CIFR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 34.4 | Neutral |
| Stochastic | 7.8 | Oversold |
CIFR's weekly RSI is 34 (neutral) and its Stochastic is 8 (oversold).
ARCC PE vs Financial Services Sector
| Metric | ARCC | Sector median | Relative |
|---|---|---|---|
| PE | 16x | 13x | 20% above |
| PE % | 87 | 63 | 24 pts above |
ARCC is trading at 16x earnings, a 20% premium to the Financial Services sector's median of 13x.
CIFR PE vs Financial Services Sector
| Metric | CIFR | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
CIFR has no meaningful PE right now: it lost money over the past year.
ARCC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $18.9 | 1% above |
| 20 week MA | $19.2 | 0.6% below |
| 50 week MA | $19.2 | 0.5% below |
| 100 week MA | $20.5 | 6.6% below |
| 200 week MA | $20.2 | 5.4% below |
ARCC has the edge over CIFR on trend strength, trading above more of its moving averages.
CIFR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $10.6 | 33% below |
| 20 week MA | $15.5 | 54% below |
| 50 week MA | $17.0 | 58% below |
| 100 week MA | $12.2 | 41% below |
| 200 week MA | $7.86 | 9% below |
CIFR is in a downtrend: it's below all five of its weekly moving averages, and 9% below its 200-week average.
ARCC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $18.6 | $16.4 | -12% |
| 2021 | $16.4 | $20.7 | +26% |
| 2022 | $20.7 | $18.7 | -9.6% |
| 2023 | $18.7 | $20.0 | +7.2% |
| 2024 | $20.0 | $22.0 | +9.9% |
| 2025 | $22.0 | $20.2 | -8.3% |
| 2026 YTD | $20.2 | $19.1 | -5.4% |
ARCC has the edge over CIFR on returns for 2026, with the stronger performance.
CIFR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $9.92 | $9.95 | +0.3% |
| 2021 | $9.95 | $5.21 | -48% |
| 2022 | $5.21 | $0.54 | -90% |
| 2023 | $0.54 | $4.13 | +665% |
| 2024 | $4.13 | $4.86 | +18% |
| 2025 | $4.86 | $15.2 | +213% |
| 2026 YTD | $15.2 | $7.15 | -53% |
CIFR's yearly returns have swung widely, from +665% in 2023 to −90% in 2022. It's down 53% so far in 2026.