Bitfarms Stock Return On Asset
| BITF Stock | 2.59 0.11 4.07% |
Bitfarms fundamentals help investors to digest information that contributes to Bitfarms' financial success or failures. It also enables traders to predict the movement of Bitfarms Stock. The fundamental analysis module provides a way to measure Bitfarms' intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Bitfarms stock.
As of the 4th of November 2024, Return On Assets is likely to grow to -0.26. Bitfarms | Return On Asset |
Bitfarms Company Return On Asset Analysis
Bitfarms' Return on Asset or ROA shows how effective is the management of the company in generating income from utilizing all of the assets at their disposal. It is a useful ratio to evaluate the performance of different departments of a company as well as to understand management performance over time.
Current Bitfarms Return On Asset | -0.11 |
Most of Bitfarms' fundamental indicators, such as Return On Asset, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Bitfarms is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
Bitfarms Return On Asset Driver Correlations
Understanding the fundamental principles of building solid financial models for Bitfarms is extremely important. It helps to project a fair market value of Bitfarms Stock properly, considering its historical fundamentals such as Return On Asset. Since Bitfarms' main accounts across its financial reports are all linked and dependent on each other, it is essential to analyze all possible correlations between related accounts. However, instead of reviewing all of Bitfarms' historical financial statements, investors can examine the correlated drivers to determine its overall health. This can be effectively done using a conventional correlation matrix of Bitfarms' interrelated accounts and indicators.
Click cells to compare fundamentals
Return on Asset measures overall efficiency of a company in generating profits from its total assets. It is expressed as the percentage of profits earned per dollar of Asset. A low ROA typically means that a company is asset-intensive and therefore will needs more money to continue generating revenue in the future.
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Bitfarms Total Assets
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Based on the latest financial disclosure, Bitfarms has a Return On Asset of -0.1066. This is 77.32% lower than that of the Capital Markets sector and 99.39% lower than that of the Financials industry. The return on asset for all Canada stocks is 23.86% lower than that of the firm.
Bitfarms Return On Asset Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Bitfarms' direct or indirect competition against its Return On Asset to detect undervalued stocks with similar characteristics or determine the stocks which would be a good addition to a portfolio. Peer analysis of Bitfarms could also be used in its relative valuation, which is a method of valuing Bitfarms by comparing valuation metrics of similar companies.Bitfarms is currently under evaluation in return on asset category among its peers.
Bitfarms Current Valuation Drivers
We derive many important indicators used in calculating different scores of Bitfarms from analyzing Bitfarms' financial statements. These drivers represent accounts that assess Bitfarms' ability to generate profits relative to its revenue, operating costs, and shareholders' equity. Below are some of Bitfarms' important valuation drivers and their relationship over time.
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Market Cap | 27.3M | 166.6M | 854.4M | 85.8M | 761.2M | 799.2M | |
| Enterprise Value | 47.4M | 189.0M | 813.9M | 120.0M | 697.0M | 731.8M |
Bitfarms Fundamentals
| Return On Equity | -0.28 | |||
| Return On Asset | -0.11 | |||
| Profit Margin | (0.62) % | |||
| Operating Margin | (0.57) % | |||
| Current Valuation | 939.29 M | |||
| Shares Outstanding | 459.24 M | |||
| Shares Owned By Insiders | 23.37 % | |||
| Shares Owned By Institutions | 20.92 % | |||
| Number Of Shares Shorted | 11.56 M | |||
| Price To Book | 1.80 X | |||
| Price To Sales | 6.89 X | |||
| Revenue | 146.37 M | |||
| Gross Profit | 10.52 M | |||
| EBITDA | 19.31 M | |||
| Net Income | (104.04 M) | |||
| Cash And Equivalents | 125.59 M | |||
| Total Debt | 19.87 M | |||
| Book Value Per Share | 1.11 X | |||
| Cash Flow From Operations | 23.6 M | |||
| Short Ratio | 4.82 X | |||
| Earnings Per Share | (0.50) X | |||
| Target Price | 5.95 | |||
| Number Of Employees | 170 | |||
| Beta | 3.2 | |||
| Market Capitalization | 1.19 B | |||
| Total Asset | 378.73 M | |||
| Retained Earnings | (294.92 M) | |||
| Working Capital | 60.83 M | |||
| Net Asset | 378.73 M |
About Bitfarms Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Bitfarms's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Bitfarms using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Bitfarms based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Pair Trading with Bitfarms
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Bitfarms position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Bitfarms will appreciate offsetting losses from the drop in the long position's value.Moving together with Bitfarms Stock
Moving against Bitfarms Stock
| 0.65 | ENB | Enbridge | PairCorr |
| 0.6 | BNS | Bank of Nova Scotia | PairCorr |
| 0.6 | CM | Canadian Imperial Bank | PairCorr |
| 0.51 | MFC | Manulife Financial Corp | PairCorr |
| 0.5 | TRP | TC Energy Corp | PairCorr |
The ability to find closely correlated positions to Bitfarms could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bitfarms when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Bitfarms - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Bitfarms to buy it.
The correlation of Bitfarms is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bitfarms moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bitfarms moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Bitfarms can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bitfarms. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors. To learn how to invest in Bitfarms Stock, please use our How to Invest in Bitfarms guide.You can also try the Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.