Terawulf (WULF) Operating Margin (2010 - 2026)
Terawulf's (WULF) quarterly Operating Margin came in at 313.74% in Q2 2026, down 28101.0% year-over-year from N/an in Q2 2025, and up 34.19% quarter-over-quarter from 476.72% in Q1 2026.
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Terawulf (WULF) Operating Margin (2010 - 2026) Analysis & Trends
Terawulf has disclosed Operating Margin across 17 years of filings, most recently posting 313.74% for Q2 2026.
- In Q2 2026, Operating Margin fell 28101.0% year-over-year to 313.74%; the TTM figure through Jun 2026 stood at 250.37% (down 16062.0% YoY), while the FY2025 annual figure was 110.54%, down 5612.0% from the prior year.
- Operating Margin came in at 313.74% for Q2 2026 at Terawulf, up from 476.72% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 5.46% in Q1 2024 to a low of 4224.42% in Q1 2022.
- Average Operating Margin over 5 years is 385.35%, with a median of 91.9% recorded in 2024.
- Year-over-year, Operating Margin plunged 416989 bps in 2022 and jumped 414447 bps in 2023.
- Over 5 years, Operating Margin stood at 139.94% in 2022, then jumped by 86 bps to 20.04% in 2023, then plunged by 418 bps to 103.84% in 2024, then plunged by 132 bps to 240.88% in 2025, then slumped by 30 bps to 313.74% in 2026.
- Per Business Quant data, the three most recent Operating Margin figures were 313.74% in Q2 2026, 476.72% in Q1 2026, and 240.88% in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Equinix | 100.35 Bn | 98.13 Bn | 1.40 Bn | 25.33% |
| 2 | Terawulf | 7.45 Bn | 4.69 Bn | 32.37 Mn | -313.74% |
| 3 | Cipher Digital | 6.82 Bn | 2.80 Bn | 9.79 Mn | -316.21% |
| 4 | Applied Digital | 6.71 Bn | 2.74 Bn | 97.29 Mn | -48.24% |
| 5 | GDS Holdings | 5.78 Bn | 3.59 Bn | 97.89 Mn | 14.22% |
| 6 | Core Scientific | 5.48 Bn | 3.54 Bn | 70.04 Mn | -47.79% |
| 7 | Vnet | 1.63 Bn | 636.30 Mn | 74.45 Mn | 8.25% |
| 8 | Sify Technologies | 1.44 Bn | 1.44 Bn | 51.65 Mn | 9.03% |
| 9 | WhiteFiber | 666.74 Mn | 606.37 Mn | 18.88 Mn | -32.09% |
| 10 | Vulcan Infrastructure & Power | 432.00 Mn | 428.80 Mn | -1.25 Mn | -284.79% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -313.74% |
| Mar 31, 2026 | -476.72% |
| Dec 31, 2025 | -240.88% |
| Sep 30, 2025 | -48.78% |
| Jun 30, 2025 | -32.73% |
| Mar 31, 2025 | -173.31% |
| Dec 31, 2024 | -103.84% |
| Sep 30, 2024 | -58.06% |
| Jun 30, 2024 | -19.02% |
| Mar 31, 2024 | -5.46% |
| Dec 31, 2023 | -20.04% |
| Sep 30, 2023 | -51.12% |
| Jun 30, 2023 | -37.82% |
| Mar 31, 2023 | -79.95% |
| Dec 31, 2022 | -139.94% |
| Sep 30, 2022 | -346.12% |
| Jun 30, 2022 | -564.33% |
| Mar 31, 2022 | -4,224.42% |
| Sep 30, 2021 | -127.21% |
| Jun 30, 2021 | -15.15% |