CIFR
Cipher Mining Inc.
There isn't enough reported data to score CIFR yet.
MRBK
Meridian Corporation
MRBK's fundamentals are mixed, but it looks expensive: trading at 9.8x earnings, above its usual 8.2x. Analysts expect earnings to decline.
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.
MRBK Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| N/A | |
| N/A |
MRBK's profitability is currently healthy, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like MRBK.
CIFR PE Valuation
CIFR has no meaningful PE right now: it lost money over the past year.
MRBK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6x | $10.15 | -39% |
| Fair | 8.2x | $13.80 | -16% |
| Current | 9.8x | $16.51 | — |
| Forward | 9.8x | $16.51 | — |
| Expensive | 10x | $17.49 | +5.9% |
Historical ranges are pointers, not guarantees.
MRBK's PE is in its expensive range at 9.8x. On analysts' estimates for next year's earnings, today's price would be 9.8x.
CIFR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
CIFR has the edge over MRBK on the outlook, with more favorable earnings and revenue expectations.
MRBK Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Decline | |
| Stable | |
| Strongly weakening | |
| Limited | |
| Moderate |
Analysts expect MRBK's earnings and profitability to decline, with its revenue holding steady.
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.
MRBK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.69 | 0% |
| Q3 2026 | $1.69 | -4.5% |
| Q2 2026 | $1.84 | +14% |
| Q1 2026 | $1.85 | +30% |
| Q4 2025 | $1.89 | +30% |
| Q3 2025 | $1.77 | +74% |
| Q2 2025 | $1.61 | +69% |
| Q1 2025 | $1.42 | +34% |
| Q4 2024 | $1.45 | +25% |
MRBK 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.
MRBK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $30.1M | -8.9% |
| Q2 2026 | $32.7M | +0.7% |
| Q1 2026 | $30.2M | +12% |
| Q4 2025 | $34.2M | +5.1% |
| Q3 2025 | $33.1M | +14% |
| Q2 2025 | $32.4M | +24% |
| Q1 2025 | $27.1M | +10% |
| Q4 2024 | $32.6M | +30% |
MRBK has the edge over CIFR on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 20% | -6.4 points |
| Q2 2026 | 23% | +0.4 points |
| Q1 2026 | 8.6% | -3 points |
| Q4 2025 | 27% | +3.8 points |
| Q3 2025 | 26% | +4.8 points |
| Q2 2025 | 22% | +5.6 points |
| Q1 2025 | 12% | -2.8 points |
| Q4 2024 | 23% | +20 points |
MRBK 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.
MRBK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $12.4M | -48% |
| Q2 2026 | -$1.4M | +$11.3M |
| Q1 2026 | $2.6M | -85% |
| Q4 2025 | -$6.6M | -$5.5M |
| Q3 2025 | $24M | -27% |
| Q2 2025 | -$12.7M | +$6.6M |
| Q1 2025 | $17.9M | +$21.5M |
| Q4 2024 | -$1.1M | -115% |
MRBK 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.
MRBK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +48K shares |
| 1 year | +5.9% | +682K shares |
| 3 years | +7.6% | +859K shares |
| 5 years | -1.9% | -240K shares |
MRBK has the edge over CIFR on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | $1,000 |
| Q2 2023 | $1.6M |
| Q1 2023 | $2.7M |
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.
MRBK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q1 2020 | 10.1x | High |
| Q4 2019 | 9.6x | High |
MRBK's net debt is about 10 years of its operating earnings (EBITDA). Net leverage isn't a meaningful measure for financial services companies like MRBK.
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).
MRBK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 32.4 | Neutral |
| Stochastic | 15.5 | Oversold |
MRBK's weekly RSI is 32 (neutral) and its Stochastic is 16 (oversold).
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.
MRBK PE vs Financial Services Sector
| Metric | MRBK | Sector median | Relative |
|---|---|---|---|
| PE | 9.8x | 13x | 25% below |
| PE % | 71 | 63 | 8 pts above |
MRBK is trading at 9.8x earnings, a 25% 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.
MRBK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $18.2 | 9.4% below |
| 20 week MA | $19.1 | 14% below |
| 50 week MA | $18.9 | 13% below |
| 100 week MA | $16.7 | 1% below |
| 200 week MA | $14.2 | 16% above |
MRBK 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.
MRBK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $9.88 | $10.4 | +5.1% |
| 2021 | $10.4 | $17.7 | +70% |
| 2022 | $17.7 | $15.0 | -15% |
| 2023 | $15.0 | $13.9 | -7.5% |
| 2024 | $13.9 | $13.4 | -3.6% |
| 2025 | $13.4 | $17.6 | +31% |
| 2026 YTD | $17.6 | $16.5 | -6.3% |
MRBK has the edge over CIFR on returns for 2026, with the stronger performance.