BIT Mining Limited ADS
Find Ratings ReportsBIT MINING LTD -ADR's gross profit margin for the third quarter of its fiscal year 2023 has significantly increased when compared to the same period a year ago. Even though sales decreased, the net income has increased. BIT MINING LTD -ADR has very weak liquidity. Currently, the Quick Ratio is 0.22 which clearly shows a lack of ability to cover short-term cash needs. The liquidity decreased from the same period a year ago, despite already having weak liquidity to begin with. This would indicate deteriorating cash flow.
At the same time, stockholders' equity ("net worth") has significantly decreased by 73.65% from the same quarter last year. The key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the near future.
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Income Statement | Q3 FY23 | Q3 FY22 |
---|---|---|
Net Sales ($mil) | 77.02 | 96.99 |
EBITDA ($mil) | 0.0 | 0.0 |
EBIT ($mil) | -3.3 | -13.86 |
Net Income ($mil) | -4.36 | -19.45 |
Balance Sheet | Q3 FY23 | Q3 FY22 |
---|---|---|
Cash & Equiv. ($mil) | 2.77 | 20.0 |
Total Assets ($mil) | 75.61 | 200.18 |
Total Debt ($mil) | 4.06 | 4.52 |
Equity ($mil) | 43.19 | 163.94 |
Profitability | Q3 FY23 | Q3 FY22 |
---|---|---|
Gross Profit Margin | 1.52 | -8.57 |
EBITDA Margin | 0.0 | 0.0 |
Operating Margin | -4.28 | -14.29 |
Sales Turnover | 3.77 | 5.43 |
Return on Assets | -157.86 | -24.45 |
Return on Equity | -276.39 | -29.86 |
Debt | Q3 FY23 | Q3 FY22 |
---|---|---|
Current Ratio | 1.17 | 1.97 |
Debt/Capital | 0.09 | 0.03 |
Interest Expense | 0.0 | 0.0 |
Interest Coverage | 0.0 | 0.0 |
Share Data | Q3 FY23 | Q3 FY22 |
---|---|---|
Shares outstanding (mil) | 11.11 | 10.64 |
Div / share | 0.0 | 0.0 |
EPS | -0.39 | -2.0 |
Book value / share | 3.89 | 15.41 |
Institutional Own % | n/a | n/a |
Avg Daily Volume | 249233.0 | 78246.0 |
SELL. The current P/E ratio is negative, which has no meaningful value in the assessment of premium or discount valuation, it simply displays that the company has negative earnings. For additional comparison, its price-to-book ratio of 0.73 indicates a significant discount versus the S&P 500 average of 4.68 and a significant discount versus the subsector average of 11.80. The price-to-sales ratio is well below both the S&P 500 average and the subsector average, indicating a discount. After reviewing these and other key valuation criteria, BIT MINING LTD -ADR proves to trade at a discount to investment alternatives.
Price/Earnings |
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Price/Cash Flow |
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BTCM NM | Peers 47.17 | BTCM NA | Peers 33.15 | |||||||||||||||||||||
Neutral. The absence of a valid P/E ratio happens when a stock can not be valued on the basis of a negative stream of earnings. BTCM's P/E is negative making this valuation measure meaningless. |
Neutral. The P/CF ratio is the stock’s price divided by the sum of the company's cash flow from operations. It is useful for comparing companies with different capital requirements or financing structures. Ratio not available. |
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Price/Projected Earnings |
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Price to Earnings/Growth |
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BTCM NA | Peers 32.16 | BTCM NA | Peers 1.66 | |||||||||||||||||||||
Premium. A higher price-to-projected earnings ratio than its peers can signify a more expensive stock or higher future growth expectations. BTCM is trading at a significant premium to its peers. |
Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples. Ratio not available. |
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Price/Book |
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Earnings Growth |
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BTCM 0.73 | Peers 11.80 | BTCM -83.44 | Peers 148.13 | |||||||||||||||||||||
Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet. BTCM is trading at a significant discount to its peers. |
Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios. However, BTCM is expected to significantly trail its peers on the basis of its earnings growth rate. |
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Price/Sales |
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Sales Growth |
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BTCM 0.11 | Peers 12.32 | BTCM -73.79 | Peers 12.66 | |||||||||||||||||||||
Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales. BTCM is trading at a significant discount to its subsector on this measurement. |
Lower. A sales growth rate that trails the subsector implies that a company is losing market share. BTCM significantly trails its peers on the basis of sales growth. |
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