CIFR
Cipher Mining Inc.
There isn't enough reported data to score CIFR yet.
GAIN
Gladstone Investment Corporation
GAIN's fundamentals are mixed, but it looks cheap: trading at 3.8x earnings, below its usual 5.6x. Analysts expect earnings to hold roughly steady.
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.
GAIN Fundamentals
| Metric | Status |
|---|---|
| Weak | |
| Healthy | |
| N/A | |
| N/A |
GAIN'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 GAIN.
CIFR PE Valuation
CIFR has no meaningful PE right now: it lost money over the past year.
GAIN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 3.8x | $14.87 | — |
| Cheap | 3.9x | $15.39 | +3.5% |
| Fair | 5.6x | $22.05 | +48% |
| Expensive | 11x | $42.09 | +183% |
| Forward | 16x | $14.87 | — |
Historical ranges are pointers, not guarantees.
GAIN's PE is in its cheap range at 3.8x. On analysts' estimates for next year's earnings, today's price would be 16x, in its expensive range.
CIFR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
CIFR has the edge over GAIN on the outlook, with more favorable earnings and profitability expectations.
GAIN Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Stable | |
| Growth | |
| Strongly weakening | |
| Limited | |
| Moderate |
Analysts expect GAIN's revenue to grow, but its profitability to weaken.
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 |
GAIN has the stronger earnings trend. Trailing diluted EPS is down 1,630% for CIFR versus GAIN up 161%.
GAIN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.94 | -76% |
| Q4 2022 | $1.46 | -54% |
| Q3 2022 | $1.51 | -55% |
| Q2 2022 | $2.02 | -25% |
| Q1 2022 | $3.08 | +141% |
| Q4 2021 | $3.20 | +$3.68 |
| Q3 2021 | $3.35 | +$3.88 |
| Q2 2021 | $2.70 | +$3.09 |
| Q1 2021 | $1.28 | +$1.49 |
GAIN earned $3.94 per share over the past year, up 161% from the year before.
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 has the stronger quarterly revenue trend. Revenue is down 63% for CIFR versus down 69% for GAIN.
| 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.
GAIN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2022 | $15.6M | -69% |
| Q1 2022 | $19.7M | -17% |
| Q4 2021 | $10.7M | -40% |
| Q3 2021 | $31.8M | +257% |
| Q2 2021 | $50M | +1711% |
| Q4 2020 | $17.7M | +14% |
GAIN's revenue has slid since its 2021 peak: $16M last quarter, down 69% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2022 | 77% | -17 points |
| Q1 2022 | 85% | -1.6 points |
| Q4 2021 | 97% | +11 points |
| Q3 2021 | 89% | +14 points |
| Q2 2021 | 94% | +93 points |
| Q1 2021 | 86% | N/A |
| Q4 2020 | 86% | +0.3 points |
| Q3 2020 | 74% | N/A |
GAIN's operating margin was 77% last quarter, down 17 points from the same quarter a year ago.
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.
GAIN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$134.7M | -$74M |
| Q2 2026 | $8.1M | +$58.2M |
| Q1 2026 | $16.8M | -85% |
| Q4 2025 | -$7.6M | +$164.3M |
| Q3 2025 | -$60.7M | -196% |
| Q2 2025 | -$50.2M | -507% |
| Q1 2025 | $112.7M | +1850% |
| Q4 2024 | -$171.9M | -924% |
GAIN has the edge over CIFR on cash flow, with more consistent year-over-year improvement.
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.
GAIN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | +3.6% | +1.4M shares |
| 3 years | +18% | +6M shares |
| 5 years | +20% | +6.6M shares |
| Available history | +21% | +7M shares |
GAIN has the edge over CIFR on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2022 | — |
| Q1 2022 | $94.4M |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | $57.5M |
| Q4 2020 | — |
| Q3 2020 | — |
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.
GAIN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2022 | 3.1x | Elevated |
| Q1 2022 | 2.3x | Moderate |
| Q4 2021 | 2.1x | Moderate |
| Q3 2021 | 2.4x | Moderate |
| Q2 2021 | 1.6x | Healthy |
| Q1 2021 | 3.5x | Elevated |
| Q4 2019 | -0.1x | Net Cash |
GAIN's net debt is about 3.1 years of its operating earnings (EBITDA), up from 1.6 years a year ago. Net leverage isn't a meaningful measure for financial services companies like GAIN.
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).
GAIN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 41.9 | Neutral |
| Stochastic | 20.4 | Neutral |
GAIN's weekly RSI is 42 (neutral) and its Stochastic is 20 (neutral).
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.
GAIN PE vs Financial Services Sector
| Metric | GAIN | Sector median | Relative |
|---|---|---|---|
| PE | 3.8x | 13x | 71% below |
| PE % | 14 | 63 | 49 pts below |
GAIN is trading at 3.8x earnings, a 71% discount to the Financial Services sector's median of 13x.
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.
GAIN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $15.2 | 2% below |
| 20 week MA | $15.8 | 5.8% below |
| 50 week MA | $15.1 | 1.6% below |
| 100 week MA | $14.5 | 2.8% above |
| 200 week MA | $14.1 | 5.8% above |
GAIN has the edge over CIFR on trend strength, trading above more of its moving averages.
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.
GAIN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $13.5 | $10.1 | -25% |
| 2021 | $10.1 | $16.6 | +64% |
| 2022 | $16.6 | $12.8 | -23% |
| 2023 | $12.8 | $14.2 | +10% |
| 2024 | $14.2 | $13.2 | -7% |
| 2025 | $13.2 | $13.9 | +5.4% |
| 2026 YTD | $13.9 | $14.9 | +7.2% |
GAIN has the edge over CIFR on returns for 2026, with the stronger performance.