Core Scientific, Inc. (CORZW) 株式分析

企業概要

Core Scientific, Inc. is a United States-based provider of infrastructure dedicated to high-density colocation services and digital asset mining operations. The enterprise operates within the digital asset and data center sectors, specifically focusing on delivering space, power, cooling, and facilities management solutions to support computational workloads. Regarding its operational scale, the company employs approximately 325 individuals across its various segments, which include Colocation, Digital Asset Self-Mining, and Digital Asset Hosted Mining. While the specific market capitalization is not disclosed in the provided data, the annual revenue of $319.02 million indicates a substantial operational footprint, positioning the firm as a significant player in the specialized infrastructure market for digital assets.

財務健全性

The financial statements for the trailing twelve months reveal a revenue of $319.02 million, a net income of -$280,740,000, and an EBITDA of -$107,388,000. The significant disparity between the reported revenue and the negative net income highlights a challenging cost structure where operating expenses and taxes substantially erode the bottom line before reaching shareholders. Furthermore, the company generated a free cash flow of -$539,492,096, which signifies a heavy outflow of cash from operational activities and suggests limited financial flexibility for discretionary spending or capital returns in the current period. An analysis of the profit margins shows a gross margin of 17.1%, an operating margin of -78.5%, and a profit margin of -90.5%, indicating that while the cost of goods sold is contained at a reasonable level, overhead costs and other expenses are driving the business into deep unprofitability. On the balance sheet, Core Scientific holds $311.38 million in cash against $1.16 billion in total debt, resulting in a debt-to-equity ratio that is not explicitly quantified but implies a leveraged position given the negative equity implied by the price-to-book of -3.73. The current ratio stands at 1.15, suggesting that the company possesses just enough current assets to cover its current liabilities, indicating a tight but technically sufficient short-term liquidity position. Additionally, the return on equity is not available due to the negative equity structure, while the return on assets is recorded at -5.8%, revealing that the company's asset base is currently generating negative returns on the capital invested by shareholders and creditors.

バリュエーション評価

Valuation metrics for the company include a price-to-book ratio of -3.73, which indicates that the stock is trading at a significant discount relative to its book value, a condition often associated with distressed companies or those with substantial accumulated deficits. The trailing twelve-month P/E ratio and forward P/E ratio are both not available due to the lack of positive earnings, preventing a standard earnings-based valuation comparison or the assessment of an expected earnings trajectory. Alternative valuation measures such as the price-to-sales ratio and EV/EBITDA are also not available in the current dataset, limiting the ability to perform traditional multiple analysis. In terms of trading range, the 52-week high was $11.89 and the 52-week low was $10.95, meaning the current price sits within this narrow band, reflecting limited price discovery or consolidation around these levels. The stock exhibits a beta of 6.36, which denotes extreme price volatility that is significantly higher than the broader market, implying that the share price will swing with much greater intensity than the general equity market during periods of increased volatility.

Growth & Income

The growth profile for the company shows a revenue growth rate of -16.0% year-over-year, while earnings growth is not calculable due to negative earnings, suggesting a contraction in top-line business activity. Since the earnings are negative, it is impossible to determine if they are growing faster or slower than revenue, but the negative revenue growth indicates a shrinking revenue base over the analyzed period. As a non-dividend payer, the company does not distribute cash to shareholders, evidenced by a dividend yield and payout ratio that are not applicable, implying that any retained earnings are consumed by operational losses rather than being reinvested for growth or returned to investors. The overall growth and income profile is characterized by a contraction in revenue without the generation of positive earnings or dividend income, presenting a challenging environment for capital preservation and expansion.