Terawulf (WULF) Net Margin (2010 - 2026)
Terawulf (WULF) recorded Net Margin of -2099.58% in Q2 2026, down 2061.01 percentage points from -38.56% a year earlier and down 842.27 percentage points from the prior quarter.
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Analysis
Terawulf (WULF) Net Margin (2010 - 2026) Analysis & Trends
On a TTM basis, Terawulf's Net Margin came in at -1179.94% as of Jun 30, 2026, down 1061.86 percentage points year-over-year; for FY2025, it was -392.64%, down 340.93 percentage points from FY2024.
- Annual Net Margin has a five-year change of -389.37 percentage points (FY2020 to FY2025).
- Across earlier years, Net Margin came in at -51.71% in FY2024 (+55.91 pp), -107.61% in FY2023 (+501.54 pp) and -609.15% in FY2022.
- The Q2 2026 figure is the lowest quarterly Net Margin since Q1 2022.
- On a year-over-year basis, Net Margin has declined for seven consecutive quarters, with an average year-over-year change of -550.81 percentage points over the last eight quarters.
- Peak year-over-year performance for Net Margin in the last five years was a gain of 8170.09 percentage points in Q1 2023, against a drop of 8345.47 percentage points in Q1 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at -1257.30% (Q1 2026), -353.21% (Q4 2025) and -899.70% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,961.51 Bn | 3,884.67 Bn | 60.48 Bn | 39.74% |
| 2 | International Business Machines | 215.03 Bn | 165.84 Bn | 9.91 Bn | 12.62% |
| 3 | Cloudflare | 114.69 Bn | 98.22 Bn | 499.52 Mn | -24.42% |
| 4 | Equinix | 98.17 Bn | 86.73 Bn | 1.40 Bn | 18.25% |
| 5 | Nebius | 44.92 Bn | 18.35 Bn | 448.70 Mn | -32.70% |
| 6 | CoreWeave | 36.20 Bn | 23.29 Bn | 1.70 Bn | -24.31% |
| 7 | Verisign | 27.35 Bn | 24.56 Bn | 384.60 Mn | 49.82% |
| 8 | Nutanix | 18.78 Bn | 10.46 Bn | 651.35 Mn | 167.85% |
| 9 | GoDaddy | 13.53 Bn | 9.11 Bn | 828.20 Mn | 18.50% |
| 10 | Terawulf | 5.64 Bn | -3.59 Bn | 32.37 Mn | -2,099.58% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -2,099.58% |
| Mar 31, 2026 | -1,257.30% |
| Dec 31, 2025 | -353.21% |
| Sep 30, 2025 | -899.70% |
| Jun 30, 2025 | -38.56% |
| Mar 31, 2025 | -178.51% |
| Dec 31, 2024 | -170.61% |
| Sep 30, 2024 | -85.12% |
| Jun 30, 2024 | -31.39% |
| Mar 31, 2024 | -23.33% |
| Dec 31, 2023 | -46.42% |
| Sep 30, 2023 | -102.19% |
| Jun 30, 2023 | -115.20% |
| Mar 31, 2023 | -229.91% |
| Dec 31, 2022 | -263.44% |
| Sep 30, 2022 | -886.00% |
| Jun 30, 2022 | -1,004.19% |
| Mar 31, 2022 | -8,400.00% |
| Sep 30, 2021 | -131.17% |
| Jun 30, 2021 | -16.99% |
API Access
Terawulf Net 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=net-margin&ticker=WULF&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "ticker": "WULF", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=net-margin&ticker=WULF&period=max&api_key=YOUR_API_KEY");
const data = await res.json();