Terawulf (WULF) Debt to Equity (2016 - 2026)

Terawulf (WULF) posted Debt to Equity of -$39.4 for Q1 2026, down 281.3% sequentially from $21.73 in Q4 2025.

Terawulf (WULF) Debt to Equity (2016 - 2026) Analysis & Trends

Terawulf (WULF) has 11 years of Debt to Equity data on file, last reported at -$39.4 in Q1 2026.

  • Quarterly Debt to Equity changed N/A year-over-year to -$39.4 in Q1 2026, while the trailing twelve-month figure through Mar 2026 was -$39.4 (changed N/A YoY) and the FY2025 annual result came in at $21.73, changed N/A from the prior year.
  • Debt to Equity declined to -$39.4 in Q1 2026 per WULF's latest filing, from $21.73 in the prior quarter.
  • The five-year high for Debt to Equity was $21.73 in Q4 2025, with the low at -$39.4 in Q1 2026.
  • Average Debt to Equity over 5 years is -$0.94, with a median of $0.75 recorded in 2022.
  • Year-over-year, Debt to Equity jumped 1656.06% in 2022 and tumbled 78.77% in 2024.
  • Terawulf's Debt to Equity stood at $1.06 in 2022, then tumbled by 47.66% to $0.56 in 2023, then tumbled by 66.26% to $0.19 in 2024, then surged by 11503.59% to $21.73 in 2025, then sank by 281.3% to -$39.4 in 2026.
  • Business Quant data shows WULF's Debt to Equity at -$39.4 in Q1 2026, $21.73 in Q4 2025, and $0.17 in Q2 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Debt/Equity (Qtr)
1 Morgan Stanley 330.70 Bn 197.17 Bn - 1.04
2 Goldman Sachs 309.79 Bn -627.76 Bn - 2.11
3 Schwab Charles 167.21 Bn 122.24 Bn - -
4 Futu Holdings 111.36 Bn 109.19 Bn 733.58 Mn 0.00
5 Robinhood Markets 97.69 Bn 93.05 Bn 960.00 Mn -
6 LPL Financial Holdings 23.49 Bn 22.47 Bn - -
7 Tradeweb Markets 21.59 Bn 20.34 Bn - -
8 Circle Internet 15.14 Bn 13.62 Bn 35.01 Mn -
9 Iren 14.46 Bn 12.24 Bn 144.76 Mn -
10 Terawulf 9.97 Bn 7.15 Bn 31.65 Mn -39.40

Historic Data

Download Data
DateValue
Mar 31, 2026 -39.40
Dec 31, 2025 21.73
Jun 30, 2025 0.17
Jun 30, 2024 0.19
Mar 31, 2024 0.37
Dec 31, 2023 0.56
Sep 30, 2023 0.81
Jun 30, 2023 0.88
Mar 31, 2023 0.82
Dec 31, 2022 1.06
Sep 30, 2022 0.69
Mar 31, 2022 0.89
Dec 31, 2021 0.87
Mar 31, 2021 0.05
Dec 31, 2020 0.23
Sep 30, 2020 0.38
Jun 30, 2020 0.37
Mar 31, 2020 0.24
Dec 31, 2019 0.23
Sep 30, 2019 0.23