Mara Holdings [MARA] vs Terawulf [WULF] Detailed Stock Comparison

Mara Holdings Inc.

NASDAQ
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Terawulf Inc.

NASDAQ
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TLDR: Quick Comparison Summary

Based on 19 vital metrics comparison: Mara Holdings Inc. wins in 9 metrics, Terawulf Inc. wins in 10 metrics, with 0 ties. Terawulf Inc. appears stronger overall.

View Metrics Details

Vital Metrics Comparison

Metric Mara Holdings Inc. Terawulf Inc. Better
P/E Ratio (TTM) 3.44 -12.27 Mara Holdings Inc.
Price-to-Book Ratio 1.30 60.78 Mara Holdings Inc.
Debt-to-Equity Ratio 104.84 3,699.47 Mara Holdings Inc.
PEG Ratio -0.01 5,075.00 Terawulf Inc.
EV/EBITDA -21.61 -127.56 Mara Holdings Inc.
Profit Margin (TTM) -144.58% 50.93% Terawulf Inc.
Operating Margin (TTM) -598.83% -210.53% Terawulf Inc.
Return on Equity -34.46% -343.69% Mara Holdings Inc.
Return on Assets (TTM) -9.00% -2.55% Terawulf Inc.
Free Cash Flow (TTM) $-1.21B $-1.18B Terawulf Inc.
1-Year Return -6.38% 548.26% Terawulf Inc.
Price-to-Sales Ratio (TTM) 4.98 59.04 Mara Holdings Inc.
Enterprise Value $7.61B $10.31B Terawulf Inc.
EV/Revenue Ratio 8.39 61.22 Mara Holdings Inc.
Gross Profit Margin (TTM) 74.92% 47.28% Mara Holdings Inc.
Revenue per Share (TTM) $3 $0 Mara Holdings Inc.
Earnings per Share (Diluted) $-3.69 $-1.66 Terawulf Inc.
Beta (Stock Volatility) 5.31 4.26 Terawulf Inc.
Short % of Float 38.18% 28.35% Terawulf Inc.

Mara Holdings Inc. vs Terawulf Inc. Stock Performance Analysis

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MARA
WULF

Performance Comparison

Short-term Returns

Stock1D1W1M3M6MYTD
Mara Holdings Inc.3.98%6.24%17.68%58.61%36.82%47.73%
Terawulf Inc.8.10%8.93%26.21%71.66%125.54%121.11%

Long-term Returns

Stock1Y3Y5Y10Y15Y20Y
Mara Holdings Inc.-6.38%41.08%-51.31%-65.89%-88.23%-88.23%
Terawulf Inc.548.26%1,684.93%149.86%144.92%206.59%206.59%

Performance & Financial Health Analysis: Mara Holdings Inc. vs Terawulf Inc.

MetricMARAWULF
Market Information
Market Cap i$4.49B$9.98B
Market Cap CategoryMid capMid cap
10 Day Avg. Volume i41,592,84134,397,375
90 Day Avg. Volume i45,795,51731,349,818
Last Close$14.64$28.17
52 Week Range$6.66 - $23.45$3.40 - $28.44
% from 52W High-37.57%-0.97%
All-Time High$155.68 (Dec 22, 2014)$43.98 (Nov 15, 2021)
% from All-Time High-90.60%-35.95%
Growth Metrics
Quarterly Revenue Growth-0.06%0.02%
Quarterly Earnings GrowthN/A0.02%
Financial Health
Profit Margin (TTM) i-1.45%0.51%
Operating Margin (TTM) i-5.99%-2.11%
Return on Equity (TTM) i-0.34%-3.44%
Debt to Equity (MRQ) i104.843,699.47
Cash & Liquidity
Book Value per Share (MRQ)$9.15$0.33
Cash per Share (MRQ)$1.44$7.70
Operating Cash Flow (TTM) i$-802,724,992$-123,180,000
Levered Free Cash Flow (TTM) i$-401,107,008$-113,667,752
Dividends
Last 12-Month Dividend Yield iN/AN/A
Last 12-Month Dividend iN/A$0.00

Valuation & Enterprise Metrics Analysis: Mara Holdings Inc. vs Terawulf Inc.

MetricMARA (Apr 24, 2026)WULF (Apr 24, 2026)
Price Ratios
P/E Ratio (TTM) i3.44-12.27
Forward P/E i-10.245,075.00
PEG Ratio i-0.015,075.00
Price to Sales (TTM) i4.9859.04
Price to Book (MRQ) i1.3060.78
Market Capitalization
Market Capitalization i$4.49B$9.98B
Enterprise Value i$7.61B$10.31B
Enterprise Value Metrics
Enterprise to Revenue i8.3961.22
Enterprise to EBITDA i-21.61-127.56
Risk & Other Metrics
Beta i5.314.26
Book Value per Share (MRQ) i$9.15$0.33

Financial Statements Comparison: Mara Holdings Inc. vs Terawulf Inc.

Financial Metrics

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Revenue

Operating Margin

Profit Margin

Long Term Debt

Income Flow Analysis

Financial Statements Comparison

Income Statement

MetricMARA (2025)WULF (2025)
Revenue/Sales i907.09M168.46M
Cost of Goods Sold i179.04M82.66M
COGS % of Revenue i19.7%49.1%
Gross Profit i728.05M85.79M
Gross Margin i80.3%50.9%
Research & Development i30.12MN/A
Operating Income (EBIT) i-822.17M-170.31M
Operating Margin i-90.6%-101.1%
EBITDA i-25.03M-38.82M
EBITDA Margin i-2.8%-23.0%
Pre-Tax Income i-1.37B-657.21M
Pre-Tax Income % of Revenue i-150.8%-390.1%
Income Tax i-56.38M76,000
Income Tax % of Revenue i-6.2%0.0%
Net Income (Profit) i-1.31B-661.42M
Profit Margin i-144.6%-392.6%

Balance Sheet & Liquidity Metrics

MetricMARA (2025)WULF (2025)
Cash & Equivalents i547.13M3.27B
Total Current Assets i664.27M3.48B
Total Current Assets % of Revenue i73.2%2,064.8%
Total Current Liabilities i521.88M1.74B
Total Current Liabilities % of Revenue i57.5%1,030.5%
Long-Term Debt i3.25B4.66B
Long-Term Debt % of Revenue i357.8%2,764.9%
Total Shareholders Equity i3.48B140.45M
Retained Earnings i-1.34B-993.69M
Retained Earnings % of Revenue i-147.5%-589.9%
Property, Plant & Equipment i2.52B528.13M

Cash Flow Statement Comparison

MetricMARA (2025)WULF (2025)
Operating Cash Flow i-1.31B-626.30M
Operating Cash Flow % of Revenue i-144.2%-371.8%
Capital Expenditures i-403.42M-1.05B
Free Cash Flow i-1.21B-1.18B
FCF Margin i-133.4%-702.5%
Debt Repayment i-18.45M-9.16M
Common Stock Repurchase i0-33.30M

Short Interest & Institutional Ownership Analysis

MetricMARAWULF
Shares Short i113.18M98.36M
Short Ratio i2.293.36
Short % of Float i38.18%28.35%
Shares Outstanding i379.46M420.07M
Float Shares i371.35M324.37M
% Held by Insiders i1.19%23.18%
% Held by Institutions i69.73%72.58%
% Held by Public i29.08%4.24%

Dividend Analysis & Yield Comparison: Mara Holdings Inc. vs Terawulf Inc.

MetricMARAWULF
Last 12-Month Dividend iN/A$0.00
Last 12-Month Dividend Yield iN/AN/A
3-Year Avg Annual Dividend iN/A$0.00
3-Year Avg Dividend Yield iN/AN/A
3-Year Total Dividends iN/A$0.00
Ex-Dividend DateN/AN/A