Terawulf (WULF) Free Cash Flow (2010 - 2026)

Terawulf's (WULF) quarterly Free Cash Flow came in at -$540.5 million in Q1 2026, down 1353.08% year-on-year from $43.1 million in Q1 2025, and up 23.13% quarter-over-quarter from -$703.2 million in Q4 2025.

Terawulf (WULF) Free Cash Flow (2010 - 2026) Analysis & Trends

Terawulf has disclosed Free Cash Flow across 17 years of filings, most recently posting -$540.5 million for Q1 2026.

  • Free Cash Flow for Q1 2026 came in at -$540.5 million, down 1353.08% year-over-year; the trailing twelve-month figure through Mar 2026 was -$1.7 billion (down 452.24% YoY), and the FY2025 annual result was -$1.2 billion, down 304.76% from the prior year.
  • Free Cash Flow came in at -$540.5 million for Q1 2026 at Terawulf, up from -$703.2 million in the prior quarter.
  • In the past five years, Free Cash Flow ranged from a high of -$6.6 million in Q2 2023 to a low of -$703.2 million in Q4 2025.
  • The 5-year median for Free Cash Flow is -$30.2 million (2024), against an average of -$128.4 million.
  • Across the five-year window, Free Cash Flow surged 89.38% in 2022 and slumped 1353.08% in 2026, its largest moves.
  • Terawulf's Free Cash Flow stood at -$11.6 million in 2022, then plunged by 94.37% to -$22.6 million in 2023, then slumped by 768.91% to -$196.4 million in 2024, then slumped by 258.1% to -$703.2 million in 2025, then grew by 23.13% to -$540.5 million in 2026.
  • The last three Free Cash Flow figures came in at -$540.5 million (Q1 2026), -$703.2 million (Q4 2025), and -$268.3 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Free Cash Flow (Qtr)
1 SOL Strategies 96,012.83 Bn 96,012.83 Bn - -1.33 Mn
2 Morgan Stanley 328.23 Bn 194.70 Bn - -7.85 Bn
3 Goldman Sachs 313.22 Bn -624.33 Bn - -32.43 Bn
4 Schwab Charles 154.90 Bn 109.92 Bn - 7.20 Bn
5 Robinhood Markets 75.17 Bn 70.53 Bn 960.00 Mn 2.03 Bn
6 Interactive Brokers 38.41 Bn 49.00 Bn - 3.59 Bn
7 LPL Financial Holdings 23.13 Bn 22.10 Bn - 124.64 Mn
8 Tradeweb Markets 21.12 Bn 19.87 Bn - 103.58 Mn
9 Circle Internet 19.75 Bn 18.24 Bn 35.01 Mn 11.72 Mn
10 Terawulf 2.04 Bn -780.52 Mn 31.65 Mn -540.55 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 -540.55 Mn
Mar 31, 2026 -540.55 Mn
Dec 31, 2025 -703.16 Mn
Dec 31, 2025 -703.16 Mn
Sep 30, 2025 -268.26 Mn
Sep 30, 2025 -268.26 Mn
Jun 30, 2025 -174.75 Mn
Jun 30, 2025 -174.75 Mn
Mar 31, 2025 -37.20 Mn
Mar 31, 2025 -37.20 Mn
Dec 31, 2024 -196.36 Mn
Dec 31, 2024 -196.36 Mn
Sep 30, 2024 -41.65 Mn
Sep 30, 2024 -41.65 Mn
Jun 30, 2024 -30.22 Mn
Jun 30, 2024 -30.22 Mn
Mar 31, 2024 -24.13 Mn
Mar 31, 2024 -24.13 Mn
Dec 31, 2023 -22.60 Mn
Dec 31, 2023 -22.60 Mn