Core Scientific, Inc. (CORZW) 주식 분석

회사 개요

Core Scientific, Inc. operates as a provider of infrastructure for high-density colocation services and digital asset mining within the United States, delivering essential resources such as space, power, cooling, and facilities operations. Although specific sector and industry classifications are not explicitly defined in the available data, the company's activities are fundamentally tied to the digital asset and data center markets. The firm employs a workforce of 325 individuals to support its operations across three distinct segments: Colocation, Digital Asset Self-Mining, and Digital Asset Hosted Mining. While precise market capitalization figures are unavailable in the provided dataset, the reported annual revenue of $319.02 million indicates a significant operational scale within the specialized infrastructure space. This revenue level suggests that the company maintains a substantial footprint in a niche market where high-density computing power and energy management are critical, positioning it as a key player despite the absence of a standard market cap metric in the current reporting cycle.

재무 건전성

The company reported a total revenue of $319.02 million for the trailing twelve months, yet this generated a net income of -$280.74 million, revealing a severe gap where operating expenses and losses substantially exceed total revenue. The EBITDA figure stands at -$107.39 million, further highlighting the intense cost pressures and capital intensity inherent in the digital asset mining and colocation business models. Free cash flow is reported at -$539.49 million, which indicates a significant cash outflow that constrains the company's financial flexibility and limits its ability to fund operations without external capital or asset monetization. The gross margin is calculated at 17.1%, suggesting that the company retains a moderate portion of revenue after direct costs, though this is insufficient to cover overheads. Operating margins are critically depressed at -78.5%, and profit margins are even lower at -90.5%, demonstrating that the company is currently unable to generate profit from its core operations before interest and taxes. On the balance sheet, the company holds $311.38 million in cash against total debt of $1.16 billion, creating a situation where liabilities significantly outweigh liquid assets. The current ratio of 1.15 suggests that while the company technically has enough current assets to cover current liabilities, the margin of safety is thin given the massive debt burden. Return on assets is recorded at -5.8%, indicating that the company's asset base is generating negative returns, while return on equity is not calculable due to the negative equity position resulting from accumulated losses.

밸류에이션 평가

Trailing P/E and forward P/E ratios are not available due to the negative earnings and specific accounting treatments associated with the company's current performance, which prevents the use of standard earnings-based valuation multiples. The price-to-book ratio is listed at -3.73, a negative figure that typically arises when shareholders' equity is negative, signaling that the market values the company below its book value or that the book value itself has been eroded by liabilities. Price-to-sales and EV/EBITDA multiples are also unavailable in the provided data, meaning alternative valuation metrics relying on profitability or enterprise value relative to earnings cannot be calculated for this specific reporting period. The stock has traded within a 52-week range between a high of $11.89 and a low of $10.95, placing the current trading price somewhere within this historical band depending on real-time market conditions not specified in the static data. The beta value is 6.36, which indicates that the stock price is highly volatile and expected to move with significant magnitude relative to the broader market, reflecting the high-risk nature of the digital asset sector.

Growth & Income

Revenue growth year-over-year is reported at -16.0%, indicating a contraction in top-line sales, while earnings growth is not applicable given the negative net income and lack of a profitable baseline for comparison. The disparity between revenue decline and the deep losses implies that the company is facing challenges in maintaining profitability while simultaneously losing revenue, suggesting a difficult operational environment. As a non-dividend payer, the company does not distribute dividends, resulting in a dividend yield and payout ratio that are not applicable, as the firm currently reinvests or retains cash to service its debt rather than paying out returns to shareholders. The overall growth and income profile is characterized by revenue contraction and significant financial losses, with no current mechanism for income generation through dividends or strong earnings expansion.