CIFR
Cipher Mining Inc.
There isn't enough reported data to score CIFR yet.
TONX
TON Strategy Co.
There isn't enough reported data to score TONX 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.
TONX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| N/A | |
| N/A |
TONX's revenue is currently healthy, but its profitability is under pressure. Free cash flow and net leverage aren't meaningful measures for financial services companies like TONX.
CIFR PE Valuation
CIFR has no meaningful PE right now: it lost money over the past year.
TONX PE Valuation
TONX has no meaningful PE right now: it lost money over the past year.
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.
TONX Forward outlook
There aren't enough analyst estimates for TONX to show an outlook.
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.
TONX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | -$1.91 | +$21.62 |
| Q1 2026 | -$5.01 | +$20.73 |
| Q4 2025 | -$5.96 | +$39.27 |
| Q3 2023 | -$2,144.00 | +$256.00 |
| Q2 2023 | -$2,648.00 | +$232.00 |
| Q1 2023 | -$2,718.00 | +$1,122.00 |
| Q4 2022 | -$3,120.00 | +$1,280.00 |
| Q3 2022 | -$2,400.00 | +$3,760.00 |
TONX has the edge over CIFR on earnings, with more consistent year-over-year improvement.
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.
TONX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $15M | +607% |
| Q1 2026 | $5.3M | +303% |
| Q4 2025 | $5.7M | +694% |
| Q3 2025 | $3.6M | +2720% |
| Q2 2025 | $2.1M | +5638% |
| Q1 2023 | $2.2M | -18% |
| Q4 2022 | $2.2M | -20% |
| Q3 2022 | $2.2M | -25% |
TONX has the edge over CIFR on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 3.2% | +141 points |
| Q1 2026 | -74% | +130 points |
| Q4 2025 | -159% | +354 points |
| Q3 2025 | -602% | +1205 points |
| Q2 2025 | -138% | +6362 points |
| Q1 2025 | -204% | N/A |
| Q4 2024 | -513% | N/A |
| Q3 2024 | -1806% | N/A |
TONX 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.
TONX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$5.9M | -$3.7M |
| Q1 2026 | -$4.7M | -$3.6M |
| Q4 2025 | -$8M | -$6M |
| Q3 2025 | -$9.4M | -$7.7M |
| Q2 2025 | -$2.3M | +$807K |
| Q1 2025 | -$1.1M | +$1.1M |
| Q4 2024 | -$2M | +$109K |
| Q3 2024 | -$1.8M | +$195K |
TONX 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 the edge over TONX 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.
TONX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.8% | +466K shares |
| 1 year | +5654% | +57.7M shares |
| 3 years | +484055% | +58.7M shares |
| 5 years | +2027360% | +58.7M shares |
TONX has 59M diluted shares, up 5654% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | $6.3M |
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.
TONX Net Leverage
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).
TONX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.1 | Neutral |
| Stochastic | 36.8 | Neutral |
TONX's weekly RSI is 55 (neutral) and its Stochastic is 37 (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.
TONX PE vs Financial Services Sector
TONX has no meaningful PE right now: it lost money over the past year.
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.
TONX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.18 | 15% above |
| 20 week MA | $3.14 | 16% above |
| 50 week MA | $2.89 | 26% above |
| 100 week MA | $4.98 | 27% below |
| 200 week MA | $121.8 | 97% below |
TONX 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.
TONX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10,560.0 | $15,680.0 | +48% |
| 2021 | $15,680.0 | $11,280.0 | -28% |
| 2022 | $11,280.0 | $928.0 | -92% |
| 2023 | $928.0 | $34.4 | -96% |
| 2024 | $34.4 | $6.60 | -81% |
| 2025 | $6.60 | $2.19 | -67% |
| 2026 YTD | $2.19 | $3.65 | +67% |
TONX has the edge over CIFR on returns for 2026, with the stronger performance.