RIOTNasdaqFinance ServicesFiscal year ends December 31
Riot Platforms, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 10, 2026
$13.97+0.25 (+1.82%)
Close on Oct 19, 2026
- Market cap
- $4.86B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
–
Operating margin
-96.1%+32.6 pts over 5 years
Net margin
-102.4%+14.4 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +71.9% | +35.7% | +121.7% | +140.2% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -27.6% | -9.4% | -22.1% | |
| Return on assets | -22.5% | -9.1% | -16.8% | |
| Current ratio | 13.03 | 98.57 | 0.96 | |
| Debt to equity | – | – | 0.29 | |
| Net debt to EBITDA | – | – | -2.17× | |
| Interest coverage | -172.2× | – | – | |
| Capex to revenue | 376.0% | 67.4% | 31.1% | |
| Diluted shares | 4M | 42M | 341M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Riot Platforms generated $947.68M from operations and spent $976.06M on capital expenditure, dividends and share buybacks. 95% of that went back into the business.
Generated
$947.68M
Used
$976.06M
Capital expenditure$930.95M95%Dividends$00%Share buybacks$45.11M5%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-102.4%
×Asset turnover0.16×
×Equity multiplier1.31×
=Return on equity, FY2025-22.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -102.4% | 0.16× | 1.31× | -22.1% |
| FY2024 | 29.0% | 0.13× | 1.19× | 4.3% |
| FY2023 | -17.6% | 0.17× | 1.11× | -3.3% |
| FY2022 | -196.6% | 0.18× | 1.14× | -40.8% |
| FY2021 | -7.2% | 0.24× | 1.11× | -1.9% |
| FY2020 | -116.8% | 0.08× | 1.03× | -9.4% |
| FY2019 | -293.1% | 0.31× | 1.38× | -125.1% |
| FY2018 | -739.4% | 0.24× | 1.21× | -212.3% |
| FY2017 | -7359.7% | 0.01× | 1.09× | -62.2% |
| FY2016 | -45378.5% | 0.00× | 1.22× | -27.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
1of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$663.18M
- Cash generatingOperating cash flow above zero-$572.93M
- Return on assets improvedROA up on the prior year5.3% → -16.9%
- Earnings backed by cashOperating cash flow above net income-$572.93M vs -$663.18M
- Less leverageLong-term debt to assets fell14.8% → 14.9%
- Better liquidityCurrent ratio rose3.74 → 0.96
- No dilutionShare count did not rise319M → 341M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.18 → 0.16