CIFR
Cipher Mining Inc.
There isn't enough reported data to score CIFR yet.
MORN
Morningstar, Inc.
MORN's fundamentals are strong and it looks cheap: trading at 22x earnings, less than half its usual 49x. Analysts expect strong earnings growth.
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.
MORN Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
MORN'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 MORN.
CIFR PE Valuation
CIFR has no meaningful PE right now: it lost money over the past year.
MORN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 17x | $246 | — |
| Current | 22x | $246 | — |
| Cheap | 26x | $298 | +21% |
| Fair | 48x | $549 | +123% |
| Expensive | 88x | $999 | +306% |
Historical ranges are pointers, not guarantees.
MORN's PE is in its cheap range at 22x. If earnings grow as analysts expect, today's price would be 17x next year's earnings.
CIFR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect CIFR's losses to shrink, with revenue growing. However, they disagree widely on these estimates.
MORN Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for MORN, with profitability improving.
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.
MORN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $14.12 | +24% |
| Q3 2026 | $11.41 | +30% |
| Q2 2026 | $10.52 | +12% |
| Q1 2026 | $9.78 | +9.8% |
| Q4 2025 | $8.87 | +3.4% |
| Q3 2025 | $8.80 | +16% |
| Q2 2025 | $9.40 | +64% |
| Q1 2025 | $8.91 | +80% |
| Q4 2024 | $8.58 | +161% |
MORN has the edge over CIFR on earnings quality, reporting a profit while its opponent remains loss making.
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.
MORN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $672.1M | +8.9% |
| Q2 2026 | $663.2M | +9.6% |
| Q1 2026 | $644.8M | +11% |
| Q4 2025 | $641.1M | +8.5% |
| Q3 2025 | $617.4M | +8.4% |
| Q2 2025 | $605.1M | +5.8% |
| Q1 2025 | $581.9M | +7.2% |
| Q4 2024 | $591M | +9.7% |
MORN has the edge over CIFR on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 25% | +4.2 points |
| Q2 2026 | 24% | +3.5 points |
| Q1 2026 | 24% | +4.6 points |
| Q4 2025 | 25% | -3.6 points |
| Q3 2025 | 21% | +0.4 points |
| Q2 2025 | 21% | +1.7 points |
| Q1 2025 | 20% | +2.6 points |
| Q4 2024 | 28% | +11 points |
MORN has the edge over CIFR on profitability, with a higher operating margin.
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.
MORN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $155.4M | -2.9% |
| Q2 2026 | $122.5M | +96% |
| Q1 2026 | $53.6M | -8.8% |
| Q4 2025 | $161.3M | +43% |
| Q3 2025 | $160.1M | +2.8% |
| Q2 2025 | $62.4M | -48% |
| Q1 2025 | $58.8M | -1.2% |
| Q4 2024 | $112.8M | +4.6% |
MORN has the edge over CIFR on cash generation, producing positive trailing cash flow while its opponent burns cash.
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.
MORN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.8% | -300K shares |
| 1 year | -11% | -4.5M shares |
| 3 years | -12% | -5.1M shares |
| 5 years | -13% | -5.6M shares |
| Available history | -13% | -5.5M shares |
MORN has the edge over CIFR on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $100M |
| Q2 2026 | $100M |
| Q1 2026 | $300M |
| Q4 2025 | $395.3M |
| Q3 2025 | $170.1M |
| Q2 2025 | $112M |
| Q1 2025 | $109.6M |
| Q4 2024 | $11.6M |
MORN spent $895M buying back its own shares over the past year, up 122% from the year before.
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.
MORN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.4x | Healthy |
| Q2 2026 | 1.6x | Healthy |
| Q1 2026 | 1.6x | Healthy |
| Q4 2025 | 0.8x | Very low |
| Q3 2025 | 0.5x | Very low |
| Q2 2025 | 0.5x | Very low |
| Q1 2025 | 0.4x | Very low |
| Q4 2024 | 0.3x | Very low |
MORN's net debt is about 1.4 years of its operating earnings (EBITDA), up from less than a year a year ago. Net leverage isn't a meaningful measure for financial services companies like MORN.
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).
MORN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 67.0 | Neutral |
| Stochastic | 94.7 | Overbought |
MORN's weekly RSI is 67 (neutral) and its Stochastic is 95 (overbought).
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.
MORN PE vs Financial Services Sector
| Metric | MORN | Sector median | Relative |
|---|---|---|---|
| PE | 22x | 13x | 66% above |
| PE % | 11 | 63 | 52 pts below |
MORN is trading at 22x earnings, a 66% premium 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.
MORN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $216.6 | 14% above |
| 20 week MA | $202.4 | 22% above |
| 50 week MA | $191.9 | 28% above |
| 100 week MA | $236.4 | 4.1% above |
| 200 week MA | $251.9 | 2.3% below |
MORN 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.
MORN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $152.0 | $222.3 | +46% |
| 2021 | $222.3 | $339.5 | +53% |
| 2022 | $339.5 | $213.5 | -37% |
| 2023 | $213.5 | $286.2 | +34% |
| 2024 | $286.2 | $339.8 | +19% |
| 2025 | $339.8 | $219.1 | -36% |
| 2026 YTD | $219.1 | $246.1 | +12% |
MORN has the edge over CIFR on returns for 2026, with the stronger performance.