MARA Chart
About

MARA Holdings, Inc. operates as a digital asset technology company in the United States and Europe. It also provides technology solutions to optimize data center operations, such as liquid immersion cooling and firmware for bitcoin miners. 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 2.87B
Enterprise Value 5.83B Income 926.69M Sales 919.17M
Book/sh 13.62 Cash/sh 2.19 Dividend Yield —
Payout 0.00% Employees 228 IPO —
P/E 2.96 Forward P/E -28.13 PEG —
P/S 3.12 P/B 0.56 P/C —
EV/EBITDA 5.16 EV/Sales 6.34 Quick Ratio 1.87
Current Ratio 2.09 Debt/Eq 70.39 LT Debt/Eq —
EPS (ttm) 2.57 EPS next Y -0.27 EPS Growth —
Revenue Growth 91.70% Earnings 2026-02-26 ROA 4.96%
ROE 23.07% ROIC — Gross Margin 44.87%
Oper. Margin 31.45% Profit Margin 100.82% Shs Outstand 378.18M
Shs Float 372.62M Short Float 38.85% Short Ratio 2.85
Short Interest — 52W High 23.45 52W Low 6.66
Beta 5.53 Avg Volume 43.72M Volume 6.80M
Target Price $19.60 Recom Buy Prev Close $7.92
Price $7.59 Change -4.10%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$19.60
Mean price target
2. Current target
$7.55
Latest analyst target
3. DCF / Fair value
$10.50
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$7.55
Low
$8.00
High
$30.00
Mean
$19.60

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
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
2025-05-12 main Barclays Equal-Weight → Equal-Weight $16
2025-05-06 down Compass Point Neutral → Sell $10
2025-05-05 main Piper Sandler Overweight → Overweight $23
2025-04-24 reit HC Wainwright & Co. Buy → Buy $28
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 82759 — — Stock Award(Grant) at price 0.00 per share. MELLINGER DOUGLAS K Director — 2026-02-13 00:00:00 D
1 82759 — — Stock Award(Grant) at price 0.00 per share. ANTOUN GEORGES J Director — 2026-02-13 00:00:00 D
2 82759 — — Stock Award(Grant) at price 0.00 per share. HUMPTON BARBARA Director — 2026-02-13 00:00:00 D
3 82759 — — Stock Award(Grant) at price 0.00 per share. LEUPP JAY P Director — 2026-02-13 00:00:00 D
4 82759 — — Stock Award(Grant) at price 0.00 per share. GEORGE JANET Director — 2026-02-13 00:00:00 D
5 82759 — — Stock Award(Grant) at price 0.00 per share. MEALER-BURKE VICKI Director — 2026-02-13 00:00:00 D
6 27505 297054 — Sale at price 10.80 per share. THIEL FREDERICK G Chief Executive Officer — 2026-01-20 00:00:00 D
7 27505 296229 — Sale at price 10.77 per share. THIEL FREDERICK G Chief Executive Officer — 2025-12-17 00:00:00 D
8 34732 398723 — Sale at price 11.48 per share. KHAN SALMAN HASSAN Chief Financial Officer — 2025-12-15 00:00:00 I
9 27505 329785 — Sale at price 11.99 per share. THIEL FREDERICK G Chief Executive Officer — 2025-11-17 00:00:00 D
Financials
Line Item2024-12-312023-12-312022-12-312021-12-31
TaxEffectOfUnusualItems134.10M23.38M-19.99M14.74M
TaxRateForCalcs0.120.060.030.27
NormalizedEBITDA-34.16M71.13M-36.55M-42.97M
TotalUnusualItems1.09B396.33M-588.01M54.60M
TotalUnusualItemsExcludingGoodwill1.09B396.33M-588.01M54.60M
NetIncomeFromContinuingOperationNetMinorityInterest541.25M261.17M-694.02M-29.81M
ReconciledDepreciation426.62M179.51M78.71M14.90M
ReconciledCostOfRevenue412.05M223.34M72.72M42.40M
EBITDA1.06B467.46M-624.56M11.63M
EBIT629.50M287.95M-703.27M-3.28M
NetInterestIncome3.71M-7.54M-13.96M-1.57M
InterestExpense13.00M10.35M14.98M1.57M
InterestIncome16.71M2.81M1.02M677.41K
NormalizedIncome-414.93M-111.77M-126.00M-69.67M
NetIncomeFromContinuingAndDiscontinuedOperation541.25M261.17M-694.02M-29.81M
TotalExpenses1.12B498.08M234.29M216.75M
TotalOperatingIncomeAsReported306.11M220.91M-673.54M894.45M
DilutedAverageShares311.84M192.29M113.47M99.34M
BasicAverageShares289.96M183.86M113.47M99.34M
DilutedEPS1.721.06-6.12-0.30
BasicEPS1.871.41-6.12-0.30
DilutedNIAvailtoComStockholders541.25M259.05M-694.02M-29.81M
NetIncomeCommonStockholders541.25M259.05M-694.02M-29.81M
OtherunderPreferredStockDividend0.002.12M0.00
NetIncome541.25M261.17M-694.02M-29.81M
MinorityInterests245.00K0.000.00
NetIncomeIncludingNoncontrollingInterests541.01M261.17M-694.02M-29.81M
NetIncomeContinuousOperations541.01M261.17M-694.02M-29.81M
TaxProvision75.50M16.43M-24.23M24.97M
PretaxIncome616.50M277.60M-718.25M-4.84M
OtherIncomeExpense1.08B395.71M-587.75M54.31M
OtherNonOperatingIncomeExpenses-8.39M2.81M262.00K-288.00K
SpecialIncomeCharges-24.94M82.27M-488.54M-22.25M
GainOnSaleOfPPE0.000.0083.88M0.00
OtherSpecialCharges24.94M-82.27M
WriteOff0.000.0055.67M0.00
ImpairmentOfCapitalAssets0.000.00516.74M22.25M
EarningsFromEquityInterest-1.50M-617.00K0.000.00
GainOnSaleOfSecurity1.12B314.06M-99.48M76.85M
NetNonOperatingInterestIncomeExpense3.71M-7.54M-13.96M-1.57M
InterestExpenseNonOperating13.00M10.35M14.98M1.57M
InterestIncomeNonOperating16.71M2.81M1.02M677.41K
OperatingIncome-467.60M-110.57M-116.54M-57.59M
OperatingExpense308.23M95.23M82.87M174.36M
DepreciationAmortizationDepletionIncomeStatement22.92M0.000.00
DepreciationAndAmortizationInIncomeStatement22.92M0.000.00
Amortization22.92M0.000.00
AmortizationOfIntangiblesIncomeStatement22.92M0.000.00
ResearchAndDevelopment13.23M2.81M98.00K
SellingGeneralAndAdministration272.08M92.42M82.77M174.36M
GeneralAndAdministrativeExpense272.08M92.42M82.77M174.36M
OtherGandA272.08M92.42M82.77M174.36M
GrossProfit-159.37M-15.34M-33.67M116.77M
CostOfRevenue815.75M402.85M151.42M42.40M
TotalRevenue656.38M387.51M117.75M159.16M
OperatingRevenue656.38M387.51M117.75M159.16M
Line Item2024-12-312023-12-312022-12-312021-12-31
OrdinarySharesNumber340.26M242.83M145.57M102.73M
ShareIssued340.26M242.83M145.57M102.73M
NetDebt2.05B678.47M459.85M
TotalDebt2.47B326.13M783.51M728.41M
TangibleBookValue4.04B1.62B385.94M681.06M
InvestedCapital6.58B1.94B1.17B1.41B
WorkingCapital375.18M996.04M251.43M672.99M
NetTangibleAssets4.04B1.62B385.94M681.06M
CapitalLeaseObligations27.09M478.00K1.34M0.00
CommonStockEquity4.13B1.62B385.94M682.10M
TotalCapitalization6.58B1.94B1.17B1.41B
TotalEquityGrossMinorityInterest4.14B1.62B385.94M682.10M
MinorityInterest6.91M0.00
StockholdersEquity4.13B1.62B385.94M682.10M
GainsLossesNotAffectingRetainedEarnings0.000.00
OtherEquityAdjustments-450.72K
RetainedEarnings-26.39M-567.64M-840.34M-153.60M
AdditionalPaidInCapital4.16B2.18B1.23B835.69M
CapitalStock34.00K24.00K15.00K10.00K
CommonStock34.00K24.00K15.00K10.00K
PreferredStock0.000.000.000.00
TotalLiabilitiesNetMinorityInterest2.67B375.05M809.30M762.23M
TotalNonCurrentLiabilitiesNetMinorityInterest2.57B341.29M783.19M750.98M
OtherNonCurrentLiabilities8.41M
NonCurrentDeferredLiabilities88.50M15.29M0.0022.57M
NonCurrentDeferredTaxesLiabilities88.50M15.29M0.0022.57M
LongTermDebtAndCapitalLeaseObligation2.47B326.01M783.19M728.41M
LongTermCapitalLeaseObligation26.69M354.00K1.02M0.00
LongTermDebt2.45B325.65M782.17M728.41M
CurrentLiabilities95.20M33.76M26.11M11.25M
OtherCurrentLiabilities5.35M
CurrentDebtAndCapitalLeaseObligation407.00K124.00K326.00K
CurrentCapitalLeaseObligation407.00K124.00K326.00K0.00
PensionandOtherPostRetirementBenefitPlansCurrent13.58M6.07M
PayablesAndAccruedExpenses75.86M27.56M25.79M11.25M
CurrentAccruedExpenses53.07M9.29M23.31M3.48M
InterestPayable2.50M276.00K1.01M867.00K
Payables22.79M18.27M2.48M7.77M
OtherPayable1.17M
TotalTaxPayable10.24M6.93M
IncomeTaxPayable10.24M6.93M
AccountsPayable12.56M11.34M1.31M7.77M
TotalAssets6.80B1.99B1.20B1.44B
TotalNonCurrentAssets6.33B961.17M917.70M760.10M
OtherNonCurrentAssets68.88M-20.00
NonCurrentPrepaidAssets376.17M182.66M537.52M479.92M
NonCurrentNoteReceivables960.06M0.00
FinancialAssets7.41M0.00
InvestmentsAndAdvances3.34B106.29M37.00M3.00M
OtherInvestments3.22B0.00
LongTermEquityInvestment111.49M106.29M37.00M3.00M
InvestmentsInOtherVenturesUnderEquityMethod106.29M37.00M3.00M
GoodwillAndOtherIntangibleAssets85.47M0.00206.00K1.04M
OtherIntangibleAssets2.71M242.00K206.00K1.04M
Goodwill82.75M0.00
NetPPE1.57B672.22M274.30M276.13M
AccumulatedDepreciation-593.68M-196.20M-16.62M-21.30M
GrossPPE2.16B868.42M290.92M297.43M
ConstructionInProgress71.40M0.00171.19M133.57M
OtherProperties1.97B868.42M119.73M163.87M
MachineryFurnitureEquipment3.32M0.00
BuildingsAndImprovements86.88M0.00
LandAndImprovements30.04M0.00
Properties0.000.00
CurrentAssets470.37M1.03B277.55M684.24M
OtherCurrentAssets39.94M665.25M162.68M354.29M
HedgingAssetsCurrent1.54M0.00
RestrictedCash12.00M0.008.80M0.00
PrepaidAssets18.78M7.24M2.35M34.46M
Receivables6.34M0.0018.00K26.93M
OtherReceivables6.34M2.09M18.00K26.93M
LoansReceivable30.00M
CashCashEquivalentsAndShortTermInvestments391.77M357.31M103.70M268.56M
OtherShortTermInvestments223.78M
CashAndCashEquivalents391.77M357.31M103.70M268.56M
Line Item2024-12-312023-12-312022-12-312021-12-31
FreeCashFlow-930.48M-343.26M-217.59M-292.81M
RepurchaseOfCapitalStock0.00-15.75M0.000.00
RepaymentOfDebt-247.51M-50.00M-120.00M-77.50M
IssuanceOfDebt2.38B0.00169.25M805.91M
IssuanceOfCapitalStock1.85B621.99M361.49M312.20M
CapitalExpenditure-253.46M-27.61M-41.11M-273.85M
InterestPaidSupplementalData678.00K7.39M11.43M0.00
IncomeTaxPaidSupplementalData1.15M723.00K7.00K0.00
EndCashPosition403.77M357.31M112.50M268.56M
BeginningCashPosition357.31M112.50M268.56M141.32M
ChangesInCash46.46M244.81M-156.05M127.23M
FinancingCashFlow3.95B555.86M410.65M1.04B
CashFlowFromContinuingFinancingActivities3.95B555.86M410.65M1.04B
NetOtherFinancingCharges-30.25M-380.00K-81.00K-4.71M
ProceedsFromStockOptionExercised0.000.001.45M
NetPreferredStockIssuance0.00-2.12M0.000.00
PreferredStockPayments0.00-15.75M0.000.00
PreferredStockIssuance0.0013.63M0.000.00
NetCommonStockIssuance1.85B608.37M361.49M312.20M
CommonStockIssuance1.85B608.37M361.49M312.20M
NetIssuancePaymentsOfDebt2.13B-50.00M49.25M728.41M
NetShortTermDebtIssuance0.00120.00M77.50M
ShortTermDebtPayments-50.00M-120.00M-77.50M
ShortTermDebtIssuance0.00120.00M77.50M
NetLongTermDebtIssuance2.13B-50.00M49.25M650.91M
LongTermDebtPayments-247.51M-50.00M-120.00M-77.50M
LongTermDebtIssuance2.38B0.00169.25M728.41M
InvestingCashFlow-3.23B4.59M-390.23M-891.14M
CashFlowFromContinuingInvestingActivities-3.23B4.59M-390.23M-891.14M
NetOtherInvestingChanges-817.30M-158.94M-484.34M-465.06M
InterestReceivedCFI0.00
NetInvestmentPurchaseAndSale-1.79B262.94M849.00K-149.22M
SaleOfInvestment152.29M264.94M849.00K780.00K
PurchaseOfInvestment-1.95B-2.00M0.00-150.00M
NetBusinessPurchaseAndSale-367.24M-71.80M-44.00M-3.00M
PurchaseOfBusiness-367.24M-71.80M-44.00M-3.00M
NetIntangiblesPurchaseAndSale-2.63M0.000.000.00
SaleOfIntangibles0.00
PurchaseOfIntangibles-2.63M0.000.00
NetPPEPurchaseAndSale-247.32M-27.61M137.26M-273.85M
SaleOfPPE3.51M0.00178.37M0.00
PurchaseOfPPE-250.82M-27.61M-41.11M-273.85M
OperatingCashFlow-677.02M-315.65M-176.48M-18.96M
CashFlowFromContinuingOperatingActivities-677.02M-315.65M-176.48M-18.96M
ChangeInWorkingCapital-798.63M-412.21M-176.56M-136.28M
ChangeInOtherCurrentLiabilities-121.60K
ChangeInOtherCurrentAssets-624.74M-385.96M-117.75M-150.51M
ChangeInPayablesAndAccruedExpense13.20M-589.00K14.54M13.25M
ChangeInAccruedExpense-735.00K144.00K867.00K
ChangeInInterestPayable-735.00K144.00K867.00K
ChangeInPayable13.20M-589.00K14.54M12.38M
ChangeInAccountPayable13.20M-589.00K13.37M12.38M
ChangeInPrepaidAssets-177.77M-25.66M-73.36M987.00K
ChangeInReceivables-9.32M0.000.00
ChangesInAccountReceivables-9.32M0.000.00
OtherNonCashItems41.58M3.65M27.76M1.07M
StockBasedCompensation157.64M32.64M24.59M160.79M
UnrealizedGainLossOnInvestmentSecurities-73.78M
ProvisionandWriteOffofAssets8.38M0.000.00
AssetImpairmentCharge0.000.00572.42M22.25M
DeferredTax73.22M15.29M-24.97M24.97M
DeferredIncomeTax73.22M15.29M-24.97M24.97M
DepreciationAmortizationDepletion426.62M179.51M78.71M14.90M
DepreciationAndAmortization426.62M179.51M78.71M14.90M
AmortizationCashFlow22.92M0.000.0071.18K
AmortizationOfIntangibles22.92M0.000.0071.18K
Depreciation403.71M179.51M78.71M15.03M
OperatingGainsLosses-1.13B-395.71M15.60M-76.85M
EarningsLossesFromEquityInvestments1.50M617.00K0.000.00
GainLossOnInvestmentSecurities-1.12B-314.06M99.48M-76.85M
GainLossOnSaleOfPPE0.000.00-83.88M0.00
NetIncomeFromContinuingOperations541.01M261.17M-694.02M-29.81M
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