Cipher Digital (CIFR) Operating Margin (2023 - 2026)
Cipher Digital (CIFR) reported Operating Margin of -316.21% for Q2 2026, down 212.35 percentage points from -103.85% a year earlier but up 12.66 percentage points from the prior quarter.
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Analysis
Cipher Digital (CIFR) Operating Margin (2023 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Cipher Digital's Operating Margin came in at -278.05%, down 178.81 percentage points year-over-year; for FY2025, it was -188.25%, down 159.36 percentage points from FY2024.
- Operating Margin has a three-year change of +1043.92 percentage points (FY2022 to FY2025).
- By year, Operating Margin came in at -28.89% in FY2024 (-13.03 pp), -15.86% in FY2023 (+1216.31 pp) and -1232.17% in FY2022.
- Five-year quarterly Operating Margin spans a low of -503.45% in Q4 2025 and a high of 97.19% in Q1 2024.
- Year over year, Operating Margin has now declined in each of the last three quarters, with an average year-over-year change of -153.27 percentage points over the last eight quarters.
- The high point for year-over-year Operating Margin in five years was Q3 2025 (a gain of 326.74 percentage points); the low point was Q4 2025 (a drop of 543.90 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at -328.86% (Q1 2026), -503.45% (Q4 2025) and -52.46% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,780.05 Bn | 3,703.20 Bn | 60.48 Bn | 45.11% |
| 2 | International Business Machines | 207.28 Bn | 158.18 Bn | 9.91 Bn | 15.24% |
| 3 | Cloudflare | 113.42 Bn | 96.95 Bn | 499.52 Mn | -29.55% |
| 4 | Equinix | 100.18 Bn | 88.73 Bn | 1.40 Bn | 25.33% |
| 5 | Nebius | 60.05 Bn | 33.49 Bn | 448.70 Mn | -30.21% |
| 6 | CoreWeave | 47.35 Bn | 34.44 Bn | 1.70 Bn | -1.90% |
| 7 | Verisign | 25.30 Bn | 22.51 Bn | 384.60 Mn | 68.18% |
| 8 | Nutanix | 18.96 Bn | 10.65 Bn | 651.35 Mn | 9.24% |
| 9 | Akamai Technologies | 15.57 Bn | 8.98 Bn | 613.75 Mn | 7.30% |
| 10 | Cipher Digital | 6.84 Bn | 3.48 Bn | 9.79 Mn | -316.21% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -316.21% |
| Mar 31, 2026 | -328.86% |
| Dec 31, 2025 | -503.45% |
| Sep 30, 2025 | -52.46% |
| Jun 30, 2025 | -103.85% |
| Mar 31, 2025 | -77.80% |
| Dec 31, 2024 | 40.45% |
| Sep 30, 2024 | -379.20% |
| Jun 30, 2024 | -43.93% |
| Mar 31, 2024 | 97.19% |
| Dec 31, 2023 | 35.01% |
| Sep 30, 2023 | -63.05% |
| Jun 30, 2023 | -38.72% |
| Mar 31, 2023 | -18.82% |
API Access
Cipher Digital Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=CIFR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "CIFR", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=CIFR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();