MARA
$7.48+1.35%
MARA Holdings Inc.Stock · FinancialsRussell 2000 · 0.2% of IWMNasdaq Composite · 0.01% of ONEQRussell 3000 · 0.007% of IWVUS Stock Market · 0.007% of VTI
MARA financial statements
The full income statement, balance sheet, and cash-flow statement for MARA Holdings Inc. (MARA), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 294.5M2024-09 321.8M2024-12 345.8M2025-03 351.9M2025-06 370.5M2025-09 378.2M2025-12 380.2M2026-03 381.3M2026-06 386.3M+31.2% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 907M+38.2% | 656M+69.4% | 388M+3821.0% | 9.88M-59.2% | 24.2M+455.9% | |
| — | — | — | -33.7M-128.8% | 117M | ||
| Cost of revenue | — | 816M+102.5% | 403M+166.0% | 151M+257.2% | 42.4M+505.6% | |
| — | -465M-97.0% | -236M-136.9% | 640M+434.3% | 120M+1549.5% | ||
| Research & development | 30.1M+127.7% | 13.2M+370.4% | 2.81M+2769.4% | 98.0K | — | |
| Selling, general & administrative | 350M+37.8% | 254M+203.7% | 83.6M+47.6% | 56.6M-67.5% | 174M+2622.6% | |
| General & administrative | 350M+37.8% | 254M+203.7% | 83.6M+47.6% | 56.6M-67.5% | 174M+2622.6% | |
| Amortization of intangibles | 900K-96.1% | 22.9M | 0.00 | 0.00-100.0% | 71.2K+0.0% | |
| Provision for credit losses | — | 8.38M | 0.00 | 0.00 | — | |
| Operating income | -1.22B-499.9% | 306M+38.6% | 221M+132.8% | -674M-22441.6% | -2.99M+69.6% | |
| Interest expense | 48.4M+272.3% | 13.0M+25.6% | 10.3M-30.9% | 15.0M+854.8% | 1.57M+7371.4% | |
| Interest & investment income | 55.9M+234.2% | 16.7M+494.9% | 2.81M+175.1% | 1.02M+50.7% | 677K+3593.0% | |
| Other non-operating income | -26.8M-465.6% | -4.74M+72.8% | -17.4M-6749.2% | 262K+191.0% | -288K+52.6% | |
| Equity-method income | -4.70M-212.2% | -1.50M-143.9% | -617K | 0.00 | 0.00 | |
| Pre-tax income | -1.37B-321.9% | 617M+122.1% | 278M+138.6% | -718M-14724.6% | -4.84M+53.6% | |
| Income tax | -56.4M-174.7% | 75.5M+359.6% | 16.4M+167.8% | -24.2M-197.1% | 25.0M+1248300.0% | |
| -1.31B-342.3% | 541M+107.2% | 261M+137.6% | -694M-2227.9% | -29.8M-185.3% | ||
| Net income to non-controlling interest | -412K-68.2% | -245K | 0.00 | 0.00 | — | |
| Preferred dividends | 0.00 | 0.00-100.0% | 2.12M | 0.00 | 0.00 | |
| Net income to common | -1.31B-342.3% | 541M+108.9% | 259M+137.3% | -694M-2227.9% | -29.8M-185.3% | |
| -$3.69-314.5% | $1.72+62.3% | $1.06+117.3% | -$6.12-1940.0% | -$0.30-130.8% | ||
| EPS (basic) | -$3.69-297.3% | $1.87+32.6% | $1.41+123.0% | -$6.12-1940.0% | -$0.30-130.8% | |
| Weighted-avg shares (basic) | 355M+22.5% | 290M+57.7% | 184M+62.0% | 113M+14.2% | 99.3M+22.0% | |
| Weighted-avg shares (diluted) | 355M+13.9% | 312M+62.2% | 192M+69.5% | 113M+14.2% | 99.3M+22.0% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 664M+41.2% | 470M-54.3% | 1.03B+271.0% | 278M-59.4% | 684M+138.9% | ||
| Cash & equivalents | 547M+39.7% | 392M+9.6% | 357M+244.5% | 104M-61.4% | 269M+90.0% | |
| Short-term investments | — | — | — | — | 224M | |
| Accounts receivable | — | — | 0.00 | — | — | |
| Prepaid expenses | 44.3M+24.5% | 35.6M+39.2% | 25.6M-37.3% | 40.8M+16.2% | 35.1M+1364.5% | |
| 7.29B+7.1% | 6.80B+241.6% | 1.99B+66.6% | 1.20B-17.2% | 1.44B+361.1% | ||
| Property, plant & equipment | 1.49B-3.8% | 1.55B+130.7% | 672M+146.0% | 273M-1.2% | 276M+1503.8% | |
| Operating lease right-of-use | 32.3M+91.6% | 16.9M+3709.0% | 443K-65.3% | 1.28M | — | |
| Goodwill | 0.00-100.0% | 82.8M | 0.00 | — | — | |
| Intangible assets | 988K-63.6% | 2.71M | 0.00 | — | 931K-7.1% | |
| Deferred tax assets | — | 0.00 | 0.00 | — | — | |
| Total non-current assets | 6.62B+4.6% | 6.33B+558.7% | 961M+4.7% | 918M+20.7% | 760M+2731.7% | |
| 522M+448.2% | 95.2M+182.0% | 33.8M+29.3% | 26.1M+132.1% | 11.3M+679.2% | ||
| Accounts payable | 12.5M-0.1% | 12.6M+10.7% | 11.3M+764.6% | 1.31M-83.1% | 7.77M | |
| Accrued liabilities | 87.0M+13.1% | 76.9M+244.9% | 22.3M-0.0% | 22.3M+754.2% | 2.61M+161.1% | |
| Short-term & current debt | 398M | 0.00 | 0.00 | 0.00 | — | |
| Current lease liability | 1.72M+620.5% | 239K+92.7% | 124K-62.0% | 326K | — | |
| Other current liabilities | 22.6M+322.7% | 5.35M | 0.00 | — | — | |
| Finance lease liability (current) | 173K+3.0% | 168K | 0.00 | — | — | |
| — | — | — | — | 765M+50702.2% | ||
| Long-term debt | 3.20B+30.9% | 2.45B+651.3% | 326M-58.4% | 782M+107281.2% | 728K | |
| Non-current lease liability | 39.7M+72.8% | 23.0M+6390.7% | 354K-65.2% | 1.02M | — | |
| Operating lease liability (total) | 41.4M+78.5% | 23.2M+4543.2% | 500K-61.5% | 1.30M | — | |
| Finance lease liability (total) | 3.99M+2.9% | 3.88M | — | — | — | |
| Finance lease liability | 3.82M+2.9% | 3.71M | 0.00 | — | — | |
| Deferred tax liabilities | 29.9M-66.3% | 88.5M+479.0% | 15.3M | 0.00-100.0% | 22.6M | |
| Other non-current liabilities | 12.5M+48.2% | 8.41M | 0.00 | — | — | |
| Total non-current liabilities | 3.29B+27.9% | 2.57B+653.1% | 341M-56.4% | 783M+4.3% | 751M+1201469.6% | |
| 3.47B-15.9% | 4.13B+155.5% | 1.62B+318.7% | 386M-43.4% | 682M+118.8% | ||
| Preferred stock | 0.00 | 0.00 | 0.00 | 0.00 | — | |
| Common stock | 37.0K+8.8% | 34.0K+41.7% | 24.0K+60.0% | 15.0K+50.0% | 10.0K+22.0% | |
| Additional paid-in capital | 4.81B+15.7% | 4.16B+90.3% | 2.18B+78.1% | 1.23B+46.7% | 836M+95.1% | |
| Retained earnings | -1.34B-4970.2% | -26.4M+95.4% | -568M+32.5% | -840M-474.3% | -146M-26.1% | |
| Accumulated other comprehensive income | 0.00 | — | — | — | -451K+0.0% | |
| Non-controlling interest | 5.37M-22.3% | 6.91M | 0.00 | — | — | |
| Total equity incl. non-controlling | 3.48B-15.9% | 4.14B+155.9% | 1.62B+318.7% | 386M-44.0% | 689M+121.1% | |
| Total liabilities & equity | 7.29B+7.1% | 6.80B+241.6% | 1.99B+66.6% | 1.20B-17.2% | 1.44B+361.1% | |
| Common shares issued | 379M+11.5% | 340M+40.1% | 243M+66.8% | 146M+41.7% | 103M+25.3% | |
| Common shares outstanding | 379M+11.5% | 340M+40.1% | 243M+66.8% | 146M+41.7% | 103M+25.3% | |
| Shares outstanding (cover) | 380M+10.0% | 346M+29.2% | 268M+60.0% | 167M+62.3% | 103M+4.3% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| -803M-18.6% | -677M-114.5% | -316M-78.9% | -176M-830.6% | -19.0M-144.0% | ||
| Depreciation & amortization | 773M+80.1% | 429M+131.3% | 186M+135.7% | 78.7M+428.1% | 14.9M+386.4% | |
| Intangible amortization | 900K-96.1% | 22.9M | 0.00 | 0.00-100.0% | 71.2K+0.0% | |
| Share-based compensation | 172M+9.3% | 158M+382.9% | 32.6M+32.7% | 24.6M-84.7% | 161M+13549.1% | |
| Deferred income taxes | -58.6M-180.1% | 73.2M+379.0% | 15.3M+161.2% | -25.0M-200.0% | 25.0M+175.0% | |
| Change in receivables | — | 9.32M | 0.00 | 0.00 | — | |
| -670M+79.3% | -3.23B-70373.3% | 4.59M+101.2% | -390M+56.2% | -891M-996.3% | ||
| Capital expenditure | 407M+62.3% | 251M+808.4% | 27.6M-32.8% | 41.1M-85.0% | 274M+1443.5% | |
| Free cash flow | -1.21B-30.4% | -928M-170.3% | -343M-57.8% | -218M+25.7% | -293M-1047.6% | |
| Acquisitions | 36.4M-89.2% | 336M | 0.00 | 0.00 | 0.00 | |
| Proceeds from sale of PP&E | 3.65M+4.2% | 3.51M | 0.00-100.0% | 178M | 0.00 | |
| 1.63B-58.8% | 3.95B+611.1% | 556M+35.4% | 411M-60.4% | 1.04B+351.6% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00-100.0% | 120M+54.8% | 77.5M | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 569M-69.3% | 1.85B+204.4% | 608M+68.3% | 361M+15.8% | 312M+40.1% | |
| Common stock repurchased | 46.9M+25.4% | 37.4M+9743.2% | 380K | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net change in cash | 155M+234.4% | 46.5M-81.0% | 245M+256.9% | -156M-222.6% | 127M-9.5% | |
| Interest paid | 32.3M+4666.1% | 678K-90.8% | 7.39M-35.3% | 11.4M | 0.00 | |
| Income taxes paid | 2.00M+74.2% | 1.15M+58.8% | 723K+10228.6% | 7.00K | 0.00 | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 3.41B-41.1% | 5.80B+10.9% | 5.23B+1208.7% | 400M-88.2% | 3.39B+295.7% | |
| P/E | — | 10.7× | — | — | — | |
| P/S | 3.8×-57.4% | 8.8×-98.3% | 529.1×+2995.1% | 17.1×-87.8% | 139.8×-28.8% | |
| P/B | 1.0×-30.0% | 1.4×-72.6% | 5.1×+702.1% | 0.6×-87.1% | 5.0×+80.8% | |
| Earnings yield | — | 9.3% | — | — | — | |
| Source filing | 10-K | 10-K | 10-K/A | 10-K | 10-K |
About this data
Source: MARA’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all MARA filings on SEC EDGAR → Not investment advice.