AROW
Arrow Financial Corporation
AROW's fundamentals are mixed: earnings per share grew 28%, but revenue fell 5.6%. At 15x earnings, it's trading above its usual 13x. Analysts expect strong earnings growth.
CIFR
Cipher Mining Inc.
There isn't enough reported data to score CIFR yet.
AROW Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
AROW's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like AROW.
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.
AROW PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 9.3x | $38.68 | — |
| Cheap | 11x | $29.38 | -24% |
| Fair | 13x | $33.92 | -12% |
| Expensive | 15x | $39.77 | +2.8% |
| Current | 15x | $38.68 | — |
Historical ranges are pointers, not guarantees.
AROW's PE is in its expensive range at 15x. If earnings grow as analysts expect, today's price would be 9.3x next year's earnings, in its cheap range.
CIFR PE Valuation
CIFR has no meaningful PE right now: it lost money over the past year.
AROW Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Weakening | |
| Limited | |
| High |
Analysts expect strong earnings and revenue growth for AROW, but weaker profitability.
CIFR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
CIFR has the edge over AROW on the outlook, with more favorable profitability expectations.
AROW Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.16 | +58% |
| Q3 2026 | $2.64 | +28% |
| Q2 2026 | $3.10 | +69% |
| Q1 2026 | $3.09 | +82% |
| Q4 2025 | $2.65 | +50% |
| Q3 2025 | $2.07 | +7.3% |
| Q2 2025 | $1.83 | -1.6% |
| Q1 2025 | $1.70 | +0.6% |
| Q4 2024 | $1.77 | +1.7% |
AROW 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.
AROW Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2024 | $35M | +7.1% |
| Q1 2024 | $34.3M | -1.3% |
| Q4 2023 | $33.1M | -12% |
| Q3 2023 | $33.4M | -14% |
| Q2 2023 | $32.7M | -11% |
| Q1 2023 | $34.8M | -3.4% |
| Q4 2022 | $37.7M | +8.5% |
| Q3 2022 | $38.7M | +6.6% |
AROW has the stronger quarterly revenue trend. Revenue is up 7.1% for AROW versus down 63% for CIFR.
| Quarter | Margin | YoY |
|---|---|---|
| Q4 2019 | 41% | N/A |
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.
AROW Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $18.8M | +31% |
| Q2 2026 | $11.6M | +40% |
| Q1 2026 | $13.9M | +58% |
| Q4 2025 | $4.8M | +18% |
| Q3 2025 | $14.3M | +77% |
| Q2 2025 | $8.3M | +10% |
| Q1 2025 | $8.8M | -4.3% |
| Q4 2024 | $4.1M | +$21M |
AROW 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.
AROW Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +12% | +2M shares |
| 1 year | +13% | +2.1M shares |
| 3 years | +8.3% | +1.4M shares |
| 5 years | +8.2% | +1.4M shares |
| Available history | +9.5% | +1.6M shares |
AROW has 18M diluted shares, up 13% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $1M |
| Q2 2026 | $370,000 |
| Q1 2026 | $113,000 |
| Q4 2025 | $154,000 |
| Q3 2025 | $1.4M |
| Q2 2025 | $5.2M |
| Q1 2025 | $3.5M |
| Q4 2024 | $265,000 |
AROW spent $2M buying back its own shares over the past year, down 84% from the year before.
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 the edge over AROW on shareholder dilution, with a more favorable share count trend.
| 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.
AROW Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2019 | 3.1x | Elevated |
AROW's net debt is about 3.1 years of its operating earnings (EBITDA). Net leverage isn't a meaningful measure for financial services companies like AROW.
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.
AROW Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 54.7 | Neutral |
| Stochastic | 55.0 | Neutral |
AROW's weekly RSI is 55 (neutral) and its Stochastic is 55 (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).
AROW PE vs Financial Services Sector
| Metric | AROW | Sector median | Relative |
|---|---|---|---|
| PE | 15x | 13x | 13% above |
| PE % | 77 | 63 | 14 pts above |
AROW is trading at 15x earnings, a 13% 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.
AROW Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $37.8 | 2.3% above |
| 20 week MA | $38.9 | 0.5% below |
| 50 week MA | $36.4 | 6.2% above |
| 100 week MA | $31.8 | 22% above |
| 200 week MA | $28.4 | 36% above |
AROW 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.
AROW Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $36.4 | $29.4 | -19% |
| 2021 | $29.4 | $34.2 | +17% |
| 2022 | $34.2 | $34.4 | +0.4% |
| 2023 | $34.4 | $27.9 | -19% |
| 2024 | $27.9 | $28.5 | +2% |
| 2025 | $28.5 | $31.5 | +10% |
| 2026 YTD | $31.5 | $38.7 | +23% |
AROW 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.