MARA Chart
About

MARA Holdings, Inc. operates as an energy and digital infrastructure company in the United States and Europe. The company leverages Bitcoin Mining and Artificial Intelligence compute to monetize excess energy and underutilized power, optimize power management across operations and support AI inference applications. The company was formerly known as Marathon Digital Holdings, Inc. and changed its name to MARA Holdings, Inc. in August 2024. MARA Holdings, Inc. was incorporated in 2010 and is based in Hallandale Beach, Florida.

Fundamentals
Scroll to Statements
Sector Financial Services Industry Capital Markets Market Cap 3.29B
Enterprise Value 6.40B Income -1.31B Sales 907.09M
Book/sh 9.15 Cash/sh 1.44 Dividend Yield —
Payout 0.00% Employees 266 IPO —
P/E — Forward P/E -7.13 PEG —
P/S 3.63 P/B 0.95 P/C —
EV/EBITDA -18.17 EV/Sales 7.05 Quick Ratio 1.08
Current Ratio 1.27 Debt/Eq 104.84 LT Debt/Eq —
EPS (ttm) -3.69 EPS next Y -1.22 EPS Growth —
Revenue Growth -5.60% Earnings 2026-05-07 ROA -9.00%
ROE -34.46% ROIC — Gross Margin 48.04%
Oper. Margin -5.99% Profit Margin -144.58% Shs Outstand 380.23M
Shs Float 371.75M Short Float 37.70% Short Ratio 2.24
Short Interest — 52W High 23.45 52W Low 6.66
Beta 5.42 Avg Volume 44.99M Volume 42.22M
Target Price $16.57 Recom Buy Prev Close $8.01
Price $8.66 Change 8.11%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$16.57
Mean price target
2. Current target
$8.66
Latest analyst target
3. DCF / Fair value
$-18.99
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$8.66
Low
$8.00
High
$30.00
Mean
$16.57

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-04 main Macquarie Outperform → Outperform $26
2026-03-04 main Clear Street Hold → Hold $9
2026-02-27 down HC Wainwright & Co. Buy → Neutral —
2026-02-27 main Cantor Fitzgerald Overweight → Overweight $11
2026-01-14 main Piper Sandler Overweight → Overweight $16
2025-11-05 main Cantor Fitzgerald Overweight → Overweight $21
2025-11-05 main Rosenblatt Buy → Buy $22
2025-10-22 main Macquarie Outperform → Outperform $29
2025-10-21 init Guggenheim — → Neutral —
2025-10-16 main Rosenblatt Buy → Buy $25
2025-10-06 main Cantor Fitzgerald Overweight → Overweight $30
2025-09-26 main JP Morgan Overweight → Overweight $20
2025-07-30 main Macquarie Outperform → Outperform $26
2025-07-30 main Rosenblatt Buy → Buy $20
2025-07-28 main Cantor Fitzgerald Overweight → Overweight $39
2025-07-28 up JP Morgan Neutral → Overweight $22
2025-07-25 up Compass Point Sell → Neutral $18
2025-07-21 main Piper Sandler Overweight → Overweight $26
2025-06-13 main JP Morgan Neutral → Neutral $19
2025-05-27 main Rosenblatt Buy → Buy $20
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 494798 — — Stock Award(Grant) at price 0.00 per share. KHAN SALMAN HASSAN Chief Financial Officer — 2026-02-20 00:00:00 D
1 197919 — — Stock Award(Grant) at price 0.00 per share. NOWAID ZABI General Counsel — 2026-02-20 00:00:00 D
2 752093 — — Stock Award(Grant) at price 0.00 per share. THIEL FREDERICK G Chief Executive Officer — 2026-02-20 00:00:00 D
3 509119 — — Stock Award(Grant) at price 0.00 per share. KHAN SALMAN HASSAN Chief Financial Officer — 2026-02-18 00:00:00 D
4 203648 — — Stock Award(Grant) at price 0.00 per share. NOWAID ZABI General Counsel — 2026-02-18 00:00:00 D
5 773861 — — Stock Award(Grant) at price 0.00 per share. THIEL FREDERICK G Chief Executive Officer — 2026-02-18 00:00:00 D
6 16000 122560 — Sale at price 7.66 per share. KHAN SALMAN HASSAN Chief Financial Officer — 2026-02-17 00:00:00 I
7 27505 210688 — Sale at price 7.66 per share. THIEL FREDERICK G Chief Executive Officer — 2026-02-17 00:00:00 D
8 82759 — — Stock Award(Grant) at price 0.00 per share. MEALER-BURKE VICKI Director — 2026-02-13 00:00:00 D
9 82759 — — Stock Award(Grant) at price 0.00 per share. MELLINGER DOUGLAS K Director — 2026-02-13 00:00:00 D
Financials
Line Item2025-12-312024-12-312023-12-312022-12-31
TaxEffectOfUnusualItems-21.51M134.10M23.38M-19.99M
TaxRateForCalcs0.040.120.060.03
NormalizedEBITDA-25.02M-34.16M71.13M-36.55M
TotalUnusualItems-522.09M1.09B396.33M-588.01M
TotalUnusualItemsExcludingGoodwill-522.09M1.09B396.33M-588.01M
NetIncomeFromContinuingOperationNetMinorityInterest-1.31B541.25M261.17M-694.02M
ReconciledDepreciation772.77M426.62M179.51M78.71M
ReconciledCostOfRevenue179.04M412.05M223.34M72.72M
EBITDA-547.12M1.06B467.46M-624.56M
EBIT-1.32B629.50M287.95M-703.27M
NetInterestIncome7.47M3.71M-7.54M-13.96M
InterestExpense48.38M13.00M10.35M14.98M
InterestIncome55.85M16.71M2.81M1.02M
NormalizedIncome-810.90M-414.93M-111.77M-126.00M
NetIncomeFromContinuingAndDiscontinuedOperation-1.31B541.25M261.17M-694.02M
TotalExpenses1.73B1.12B498.08M234.29M
TotalOperatingIncomeAsReported-1.22B306.11M220.91M-673.54M
DilutedAverageShares355.17M311.84M192.29M113.47M
BasicAverageShares355.17M289.96M183.86M113.47M
DilutedEPS-3.691.721.06-6.12
BasicEPS-3.691.871.41-6.12
DilutedNIAvailtoComStockholders-1.31B541.25M259.05M-694.02M
NetIncomeCommonStockholders-1.31B541.25M259.05M-694.02M
OtherunderPreferredStockDividend0.000.002.12M0.00
NetIncome-1.31B541.25M261.17M-694.02M
MinorityInterests412.00K245.00K0.000.00
NetIncomeIncludingNoncontrollingInterests-1.31B541.01M261.17M-694.02M
NetIncomeContinuousOperations-1.31B541.01M261.17M-694.02M
TaxProvision-56.38M75.50M16.43M-24.23M
PretaxIncome-1.37B616.50M277.60M-718.25M
OtherIncomeExpense-553.57M1.08B395.71M-587.75M
OtherNonOperatingIncomeExpenses-26.78M-8.39M2.81M262.00K
SpecialIncomeCharges-136.80M-24.94M82.27M-488.54M
GainOnSaleOfPPE0.000.0083.88M0.00
OtherSpecialCharges3.97M24.94M-82.27M
WriteOff0.000.0055.67M0.00
ImpairmentOfCapitalAssets109.03M0.000.00516.74M
RestructuringAndMergernAcquisition23.80M0.000.00
EarningsFromEquityInterest-4.70M-1.50M-617.00K0.00
GainOnSaleOfSecurity-385.30M1.12B314.06M-99.48M
NetNonOperatingInterestIncomeExpense7.47M3.71M-7.54M-13.96M
InterestExpenseNonOperating48.38M13.00M10.35M14.98M
InterestIncomeNonOperating55.85M16.71M2.81M1.02M
OperatingIncome-822.17M-467.60M-110.57M-116.54M
OperatingExpense1.55B308.23M95.23M82.87M
OtherOperatingExpenses388.23M321.10M226.64M
OtherTaxes9.17M8.34M5.44M
DepreciationAmortizationDepletionIncomeStatement772.77M22.92M0.000.00
DepreciationAndAmortizationInIncomeStatement772.77M22.92M0.000.00
Amortization22.92M0.000.00
AmortizationOfIntangiblesIncomeStatement22.92M0.000.00
ResearchAndDevelopment30.12M13.23M2.81M98.00K
SellingGeneralAndAdministration349.94M272.08M92.42M82.77M
GeneralAndAdministrativeExpense349.94M272.08M92.42M82.77M
OtherGandA349.94M272.08M92.42M82.77M
GrossProfit728.05M-159.37M-15.34M-33.67M
CostOfRevenue179.04M815.75M402.85M151.42M
TotalRevenue907.09M656.38M387.51M117.75M
OperatingRevenue907.09M656.38M387.51M117.75M
Line Item2025-12-312024-12-312023-12-312022-12-31
OrdinarySharesNumber379.46M340.26M242.83M145.57M
ShareIssued379.46M340.26M242.83M145.57M
NetDebt3.05B2.05B678.47M459.85M
TotalDebt3.65B2.47B326.13M783.51M
TangibleBookValue3.47B4.04B1.62B385.94M
InvestedCapital7.07B6.58B1.94B1.17B
WorkingCapital142.39M375.18M996.04M251.43M
NetTangibleAssets3.47B4.04B1.62B385.94M
CapitalLeaseObligations45.43M27.09M478.00K1.34M
CommonStockEquity3.47B4.13B1.62B385.94M
TotalCapitalization6.67B6.58B1.94B1.17B
TotalEquityGrossMinorityInterest3.48B4.14B1.62B385.94M
MinorityInterest5.37M6.91M0.00
StockholdersEquity3.47B4.13B1.62B385.94M
GainsLossesNotAffectingRetainedEarnings0.000.00
OtherEquityAdjustments-450.72K
RetainedEarnings-1.34B-26.39M-567.64M-840.34M
AdditionalPaidInCapital4.81B4.16B2.18B1.23B
CapitalStock37.00K34.00K24.00K15.00K
CommonStock37.00K34.00K24.00K15.00K
PreferredStock0.000.000.000.00
TotalLiabilitiesNetMinorityInterest3.81B2.67B375.05M809.30M
TotalNonCurrentLiabilitiesNetMinorityInterest3.29B2.57B341.29M783.19M
OtherNonCurrentLiabilities12.46M8.41M
NonCurrentDeferredLiabilities29.86M88.50M15.29M0.00
NonCurrentDeferredTaxesLiabilities29.86M88.50M15.29M0.00
LongTermDebtAndCapitalLeaseObligation3.25B2.47B326.01M783.19M
LongTermCapitalLeaseObligation43.53M26.69M354.00K1.02M
LongTermDebt3.20B2.45B325.65M782.17M
CurrentLiabilities521.88M95.20M33.76M26.11M
OtherCurrentLiabilities22.60M5.35M
CurrentDebtAndCapitalLeaseObligation399.74M407.00K124.00K326.00K
CurrentCapitalLeaseObligation1.90M407.00K124.00K326.00K
CurrentDebt397.85M
OtherCurrentBorrowings397.85M
PensionandOtherPostRetirementBenefitPlansCurrent21.43M13.58M6.07M
PayablesAndAccruedExpenses78.10M75.86M27.56M25.79M
CurrentAccruedExpenses59.01M53.07M9.29M23.31M
InterestPayable2.17M2.50M276.00K1.01M
Payables19.09M22.79M18.27M2.48M
OtherPayable1.17M
TotalTaxPayable6.55M10.24M6.93M
IncomeTaxPayable6.55M10.24M6.93M
AccountsPayable12.55M12.56M11.34M1.31M
TotalAssets7.29B6.80B1.99B1.20B
TotalNonCurrentAssets6.62B6.33B961.17M917.70M
OtherNonCurrentAssets1.54M68.88M-20.00
NonCurrentPrepaidAssets229.78M376.17M182.66M537.52M
NonCurrentNoteReceivables1.34B960.06M0.00
FinancialAssets28.98M7.41M0.00
InvestmentsAndAdvances3.50B3.34B106.29M37.00M
OtherInvestments3.46B3.22B0.00
LongTermEquityInvestment42.68M111.49M106.29M37.00M
InvestmentsInOtherVenturesUnderEquityMethod106.29M37.00M3.00M
GoodwillAndOtherIntangibleAssets-548.00K85.47M0.00206.00K
OtherIntangibleAssets-548.00K2.71M242.00K206.00K
Goodwill0.0082.75M0.00
NetPPE1.52B1.57B672.22M274.30M
AccumulatedDepreciation-1.20B-593.68M-196.20M-16.62M
GrossPPE2.72B2.16B868.42M290.92M
ConstructionInProgress75.65M71.40M0.00171.19M
OtherProperties2.52B1.97B868.42M119.73M
MachineryFurnitureEquipment3.32M0.00
BuildingsAndImprovements91.49M86.88M0.00
LandAndImprovements30.04M30.04M0.00
Properties0.000.000.00
CurrentAssets664.27M470.37M1.03B277.55M
OtherCurrentAssets46.72M39.94M665.25M162.68M
HedgingAssetsCurrent20.34M1.54M0.00
RestrictedCash12.00M12.00M0.008.80M
PrepaidAssets19.54M18.78M7.24M2.35M
Receivables18.54M6.34M0.0018.00K
OtherReceivables18.54M6.34M2.09M18.00K
LoansReceivable30.00M
CashCashEquivalentsAndShortTermInvestments547.13M391.77M357.31M103.70M
OtherShortTermInvestments223.78M
CashAndCashEquivalents547.13M391.77M357.31M103.70M
Line Item2025-12-312024-12-312023-12-312022-12-31
FreeCashFlow-1.21B-930.48M-343.26M-217.59M
RepurchaseOfCapitalStock0.000.00-15.75M0.00
RepaymentOfDebt-18.45M-247.51M-50.00M-120.00M
IssuanceOfDebt1.16B2.38B0.00169.25M
IssuanceOfCapitalStock568.56M1.85B621.99M361.49M
CapitalExpenditure-407.07M-253.46M-27.61M-41.11M
InterestPaidSupplementalData2.02M678.00K7.39M11.43M
IncomeTaxPaidSupplementalData32.31M1.15M723.00K7.00K
EndCashPosition559.13M403.77M357.31M112.50M
BeginningCashPosition403.77M357.31M112.50M268.56M
ChangesInCash155.36M46.46M244.81M-156.05M
FinancingCashFlow1.63B3.95B555.86M410.65M
CashFlowFromContinuingFinancingActivities1.63B3.95B555.86M410.65M
NetOtherFinancingCharges-86.13M-30.25M-380.00K-81.00K
ProceedsFromStockOptionExercised0.000.001.45M
NetPreferredStockIssuance0.000.00-2.12M0.00
PreferredStockPayments0.000.00-15.75M0.00
PreferredStockIssuance0.000.0013.63M0.00
NetCommonStockIssuance568.56M1.85B608.37M361.49M
CommonStockIssuance568.56M1.85B608.37M361.49M
NetIssuancePaymentsOfDebt1.15B2.13B-50.00M49.25M
NetShortTermDebtIssuance0.00120.00M77.50M
ShortTermDebtPayments-50.00M-120.00M-77.50M
ShortTermDebtIssuance0.00120.00M77.50M
NetLongTermDebtIssuance1.15B2.13B-50.00M49.25M
LongTermDebtPayments-18.45M-247.51M-50.00M-120.00M
LongTermDebtIssuance1.16B2.38B0.00169.25M
InvestingCashFlow-669.92M-3.23B4.59M-390.23M
CashFlowFromContinuingInvestingActivities-669.92M-3.23B4.59M-390.23M
NetOtherInvestingChanges-153.24M-817.30M-158.94M-484.34M
InterestReceivedCFI0.00
NetInvestmentPurchaseAndSale-39.89M-1.79B262.94M849.00K
SaleOfInvestment433.85M152.29M264.94M849.00K
PurchaseOfInvestment-473.73M-1.95B-2.00M0.00
NetBusinessPurchaseAndSale-73.38M-367.24M-71.80M-44.00M
PurchaseOfBusiness-73.38M-367.24M-71.80M-44.00M
NetIntangiblesPurchaseAndSale0.00-2.63M0.000.00
SaleOfIntangibles0.00
PurchaseOfIntangibles0.00-2.63M0.000.00
NetPPEPurchaseAndSale-403.42M-247.32M-27.61M137.26M
SaleOfPPE3.65M3.51M0.00178.37M
PurchaseOfPPE-407.07M-250.82M-27.61M-41.11M
OperatingCashFlow-802.73M-677.02M-315.65M-176.48M
CashFlowFromContinuingOperatingActivities-802.73M-677.02M-315.65M-176.48M
ChangeInWorkingCapital-878.55M-798.63M-412.21M-176.56M
ChangeInOtherCurrentLiabilities-121.60K
ChangeInOtherCurrentAssets-897.45M-624.74M-385.96M-117.75M
ChangeInPayablesAndAccruedExpense-2.85M13.20M-589.00K14.54M
ChangeInAccruedExpense-735.00K144.00K867.00K
ChangeInInterestPayable-735.00K144.00K867.00K
ChangeInPayable-2.85M13.20M-589.00K14.54M
ChangeInAccountPayable-2.85M13.20M-589.00K13.37M
ChangeInPrepaidAssets19.94M-177.77M-25.66M-73.36M
ChangeInReceivables1.81M-9.32M0.000.00
ChangesInAccountReceivables1.81M-9.32M0.000.00
OtherNonCashItems15.92M41.58M3.65M27.76M
StockBasedCompensation172.29M157.64M32.64M24.59M
UnrealizedGainLossOnInvestmentSecurities-73.78M
ProvisionandWriteOffofAssets8.38M0.000.00
AssetImpairmentCharge109.03M0.000.00572.42M
DeferredTax-58.65M73.22M15.29M-24.97M
DeferredIncomeTax-58.65M73.22M15.29M-24.97M
DepreciationAmortizationDepletion772.77M426.62M179.51M78.71M
DepreciationAndAmortization772.77M426.62M179.51M78.71M
AmortizationCashFlow22.92M0.000.0071.18K
AmortizationOfIntangibles22.92M0.000.0071.18K
Depreciation403.71M179.51M78.71M15.03M
OperatingGainsLosses376.35M-1.13B-395.71M15.60M
EarningsLossesFromEquityInvestments4.70M1.50M617.00K0.00
GainLossOnInvestmentSecurities372.68M-1.12B-314.06M99.48M
GainLossOnSaleOfPPE0.000.00-83.88M0.00
NetIncomeFromContinuingOperations-1.31B541.01M261.17M-694.02M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for MARA
Date User Asset Broker Type Position Size Entry Price Patterns