MARA Holdings (MARA) EV to EBITDA (2012 - 2026)
MARA Holdings' (MARA) quarterly EV to EBITDA came in at 14.05 in Q2 2026, down 312.18% year-over-year from 6.62 in Q2 2025, and down 361.66% quarter-over-quarter from 3.04 in Q1 2026.
Analysis
MARA Holdings (MARA) EV to EBITDA (2012 - 2026) Analysis & Trends
MARA Holdings has disclosed EV to EBITDA across 15 years of filings, most recently posting 14.05 for Q2 2026.
- In Q2 2026, EV to EBITDA fell 312.18% year-over-year to 14.05; the TTM figure through Jun 2026 stood at 2.31 (down 135.67% YoY), while the FY2025 annual figure was 6.11, down 181.73% from the prior year.
- EV to EBITDA came in at 14.05 for Q2 2026 at MARA Holdings, down from 3.04 in the prior quarter.
- In the past five years, EV to EBITDA ranged from a high of 65.7 in Q2 2023 to a low of 442.47 in Q1 2022.
- Average EV to EBITDA over 5 years is 28.1, with a median of 2.21 recorded in 2022.
- Year-over-year, EV to EBITDA tumbled 386.69% in 2022 and surged 3569.25% in 2023.
- Over 5 years, EV to EBITDA stood at 21.03 in 2022, then declined by 26.56% to 15.45 in 2023, then fell by 28.17% to 11.1 in 2024, then slumped by 122.7% to 2.52 in 2025, then slumped by 457.98% to 14.05 in 2026.
- Per Business Quant data, the three most recent EV to EBITDA figures were 14.05 in Q2 2026, 3.04 in Q1 2026, and 2.52 in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Bitmine Immersion Technologies | 56.87 Bn | 56.53 Bn | 40.81 Mn |
| 2 | Iren | 34.00 Bn | 26.43 Bn | 103.89 Mn |
| 3 | Hut 8 | 11.52 Bn | 5.04 Bn | 48.04 Mn |
| 4 | Riot Platforms | 8.24 Bn | 7.69 Bn | 84.97 Mn |
| 5 | Argo Blockchain | 6.43 Bn | 6.43 Bn | - |
| 6 | MARA Holdings | 4.32 Bn | 3.96 Bn | - |
| 7 | Cleanspark | 3.26 Bn | 3.05 Bn | - |
| 8 | Bitdeer Technologies | 2.92 Bn | 2.46 Bn | -8.53 Mn |
| 9 | Keel Infrastructure | 2.14 Bn | 2.13 Bn | -86.75 Mn |
| 10 | HIVE Digital Technologies | 853.00 Mn | 613.97 Mn | -29.49 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -14.05 |
| Mar 31, 2026 | -3.04 |
| Dec 31, 2025 | -2.52 |
| Sep 30, 2025 | 28.79 |
| Jun 30, 2025 | 6.62 |
| Mar 31, 2025 | -9.75 |
| Dec 31, 2024 | 11.10 |
| Sep 30, 2024 | -66.86 |
| Jun 30, 2024 | -37.45 |
| Mar 31, 2024 | 12.75 |
| Dec 31, 2023 | 15.45 |
| Sep 30, 2023 | -42.85 |
| Jun 30, 2023 | 65.70 |
| Mar 31, 2023 | 9.54 |
| Dec 31, 2022 | 21.03 |
| Sep 30, 2022 | -55.82 |
| Jun 30, 2022 | -1.89 |
| Mar 31, 2022 | -442.47 |
| Dec 31, 2021 | 70.03 |
| Sep 30, 2021 | -172.60 |