CIFR
Cipher Mining Inc.
There isn't enough reported data to score CIFR yet.
NMR
Nomura Holdings, Inc.
There isn't enough reported data to score NMR yet.
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.
NMR Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Healthy | |
| N/A | |
| N/A |
NMR's profitability is currently healthy. There isn't enough data to rate its revenue. Free cash flow and net leverage aren't meaningful measures for financial services companies like NMR.
CIFR PE Valuation
CIFR has no meaningful PE right now: it lost money over the past year.
NMR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.9x | $5.90 | -38% |
| Fair | 12x | $8.70 | -9% |
| Current | 13x | $9.56 | — |
| Expensive | 18x | $13.82 | +45% |
Historical ranges are pointers, not guarantees.
NMR's PE is 13x, but its earnings don't support one, so it isn't a reliable read right now.
CIFR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
CIFR has the edge over NMR on the outlook, with more favorable earnings and profitability expectations.
NMR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Stable | |
| Growth | |
| Weakening | |
| Limited | |
| High |
Analysts expect NMR'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 |
CIFR lost $3.06 per share over the past year, and its loss has widened in each of the last four quarters.
NMR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q1 2026 | $0.75 | +7.1% |
| Q3 2025 | $0.76 | +36% |
| Q1 2025 | $0.70 | +112% |
| Q3 2024 | $0.56 | +107% |
| Q1 2024 | $0.33 | +74% |
| Q3 2023 | $0.27 | +23% |
| Q1 2023 | $0.19 | -32% |
| Q3 2022 | $0.22 | +$0.23 |
NMR has the edge over CIFR in the latest year-over-year earnings comparison.
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.
NMR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $7.1B | +18% |
| Q3 2025 | $6.5B | +11% |
| Q1 2025 | $6B | +13% |
| Q3 2024 | $5.9B | +31% |
| Q1 2024 | $5.3B | +18% |
| Q3 2023 | $4.5B | +16% |
| Q1 2023 | $4.5B | +3.9% |
| Q3 2022 | $3.9B | -8.2% |
NMR has the edge over CIFR in the latest year-over-year revenue comparison.
| Quarter | Margin | YoY |
|---|---|---|
| Q1 2026 | 21% | -0.3 points |
| Q3 2025 | 28% | +14 points |
| Q1 2025 | 25% | +6.3 points |
| Q3 2024 | 25% | +18 points |
| Q1 2024 | 21% | +2.6 points |
| Q3 2023 | 15% | +0.9 points |
| Q1 2023 | 18% | +26 points |
| Q3 2022 | 7.8% | -24 points |
NMR's operating margin was 21% last quarter, about level with 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.
NMR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q1 2026 | -$12.7B | -$10.1B |
| Q3 2025 | $5.2B | +$8B |
| Q1 2025 | -$2.6B | -$1.6B |
| Q3 2024 | -$2.8B | -420% |
| Q1 2024 | -$968.3M | -$27.3M |
| Q3 2023 | $885.9M | +$5.4B |
| Q1 2023 | -$941M | +$6.6B |
| Q3 2022 | -$4.5B | -$2.8B |
NMR's free cash flow was −$12.9B over the past year, against −$5.5B the year before. Free cash flow isn't a meaningful measure for financial services companies like NMR.
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.
NMR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -9.6% | -325M shares |
| 1 year | -14% | -498M shares |
| 3 years | -20% | -781M shares |
NMR has the edge over CIFR on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q1 2026 | $260.1M |
| Q3 2025 | $376.1M |
| Q1 2025 | $50,144 |
| Q3 2024 | $369.8M |
| Q1 2024 | $257.1M |
| Q3 2023 | $125.4M |
| Q1 2023 | $9.5M |
| Q3 2022 | $145.5M |
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.
NMR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q1 2026 | 21.7x | High |
| Q3 2025 | 16.5x | High |
| Q1 2025 | 18.8x | High |
| Q3 2024 | 19.0x | High |
| Q1 2024 | 26.8x | High |
| Q3 2023 | 28.2x | High |
| Q1 2023 | 31.5x | High |
| Q3 2022 | 32.4x | High |
NMR's net debt is more than 20 years of its operating earnings (EBITDA), down from more than 20 years a year ago. Net leverage isn't a meaningful measure for financial services companies like NMR.
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).
NMR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 52.8 | Neutral |
| Stochastic | 26.2 | Neutral |
NMR's weekly RSI is 53 (neutral) and its Stochastic is 26 (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.
NMR PE vs Financial Services Sector
| Metric | NMR | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 13x | 1.5% below |
| PE % | 59 | 63 | 4 pts below |
NMR is trading at 13x earnings, in line with the Financial Services sector's median of 13x, though its earnings don't support one.
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.
NMR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $9.49 | 0.7% above |
| 20 week MA | $9.75 | 1.9% below |
| 50 week MA | $8.94 | 6.9% above |
| 100 week MA | $7.73 | 24% above |
| 200 week MA | $6.28 | 52% above |
NMR 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.
NMR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $5.12 | $5.22 | +2% |
| 2021 | $5.22 | $4.43 | -15% |
| 2022 | $4.43 | $3.68 | -17% |
| 2023 | $3.68 | $4.51 | +23% |
| 2024 | $4.51 | $5.86 | +30% |
| 2025 | $5.86 | $8.41 | +44% |
| 2026 YTD | $8.41 | $9.56 | +14% |
NMR has the edge over CIFR on returns for 2026, with the stronger performance.