Hut 8 (HUT) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Hut 8

NasdaqGS•Financial Services•Capital Markets

$93.55+5.46(0.06%)Market closed

Market Cap

$11.70B

P/S

36.8x

P/B

8.1x

Hut 8 Corp., together with its subsidiaries, operates as an energy infrastructure platform that integrates power, digital infrastructure, and compute at scale to fuel energy-intensive use cases in the United States and Canada. It operates through Power, Digital Infrastructure, Compute, and Other segments. The company offers managed services for energy infrastructure development, such as site design, procurement, and construction management; software automation, process design, personnel hiring, and team training; utilities contracts, hosting operations, and customer management; energy portfolio optimization and strategic initiatives; and finance, accounting, and safety services. It also engages in the operation of compute infrastructure; and provision, hosting, monitoring, troubleshooting, repair, maintenance, and sale of mining equipment. In addition, the company offers Bitcoin mining; data center and cloud infrastructure services, including colocation services; and ASIC compute, traditional cloud, and AI cloud services. Hut 8 Corp. was founded in 2020 and is based in Miami, Florida.

How this company scores

WeakMetricSide Score: 28/100

Grade capped at D — Interest coverage below 1× (-4.6x) — earnings cannot cover interest. Strongest: Growth (14/25); weakest: Cash & Earnings Quality (2/25).

Profitability5/25

Growth14/25

Balance Sheet & Red Flags7/25

Cash & Earnings Quality2/25

Strengths

Growing revenueConsistent growthNet cash positionImproving margins

Grade capped at D

Interest coverage below 1× (-4.6x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 8.0x5y range 4.7x – 8.0x

Currently above its 4-quarter median.

P/S · 36.8x5y range 7.4x – 36.8x

Currently above its 7-quarter median.

P/B · 8.1x5y range 1.2x – 19.1x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

Operating margins dropped 280.8% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $11.70B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $317.95M
Q. Revenue: $74.93M
TTM EBITDA: $-793.19M
TTM Op. Income: $-938.90M
Q. Op. Income: $-206.33M
TTM Net Income: $-599.61M
Q. Net Income: $-150.19M
EPS: $-1.27
Shares Out.: $118.48M

$317.95M in TTM revenue grew 88.6% YoY, reaching $74.93M last quarter. TTM EBITDA of $-793.19M and TTM operating income of $-938.90M show growth is flowing through to the bottom line. However, net income is negative at $599.61M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 64.1%
EBITDA Margin: -222.3%
Op. Margin: -275.4%
Net Margin: -200.4%

Op. margin of -275.4% is down 730.2% YoY — costs are rising relative to revenue. Net margin at -200.4% and gross margin of 64.1% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 161% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 36.8x
P/B Ratio: 8.1x

P/S of 36.8x and P/B of 8.1x. P/S is high, meaning growth expectations are priced in. Over the past year, P/E is up 0% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $9.98B
Cash: $233.58M
Long-Term Debt: N/A
Book Value: $1.44B
D/E Ratio: N/A
Debt/EBITDA: N/A

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-5.62M
TTM Free Cash Flow: $-799.85M
FCF Margin: -251.6%
FCF / Net Income: 1.3

TTM FCF of $-799.85M on $-5.62M in operating cash flow. The FCF / Net Income ratio of 1.3x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is down 147% — a weakening trend.