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| Date | Value |
|---|---|
| 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 |