MARA Holdings, Inc. (MARA) Stock Price & Analysis
MARA Holdings, Inc. (MARA) closed at USD 7.02 on Friday, October 23, 2026, down 3.17% on the day. The US market is currently closed; this is not a live price.
The prior close was USD 7.25; the Oct 23, 2026 session ranged USD 7.01–7.53 on volume of 33,750,652 shares. Market capitalization is $2.71B, with a 52-week range of USD 6.66–20.47 (NCM). Source: Nexqual, retrieved October 24, 2026 at 03:02 UTC.
Also available as compact Markdown for AI agents: nexqual.com/MARA.md
Key facts (MARA)
- Last four reported quarters (through Jun 30, 2026): revenue $804M, net income -$3.46B (-430.2% margin) (SEC filings).
- Analysts: Buy (mean 2.47 on a 1–5 scale) (15 analysts), mean target USD 18.46 (range 10–30).
- Total return with dividends: 1Y -64.1% vs S&P 500 +13.4%; 5Y -86.6% vs S&P 500 +76.9%.
- Next earnings: 2026-11-04, EPS estimate USD -0.1, revenue estimate $176M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (MARA)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $159M | $118M | $388M | $656M | $907M | $804M |
| Gross profit | $117M | -$33.7M | -$15.3M | -$159M | — | — |
| Operating income | -$3.0M | -$674M | $221M | $306M | -$1.22B | -$2.95B |
| Net income | -$29.8M | -$694M | $261M | $541M | -$1.31B | -$3.46B |
| EPS (diluted) | -$0.30 | -$6.12 | $1.06 | $1.72 | -$3.69 | — |
| Free cash flow | -$293M | -$218M | -$343M | -$928M | -$1.21B | -$1.24B |
| Gross margin | 73.4% | -28.6% | -4.0% | -24.3% | — | — |
| Operating margin | -1.9% | -572.0% | 57.0% | 46.6% | -135.0% | -366.3% |
| Net margin | -18.7% | -589.4% | 67.4% | 82.5% | -144.6% | -430.2% |
| Revenue growth | +3553.0% | -26.0% | +229.1% | +69.4% | +38.2% | — |
| Cash + short-term investments | $492M | — | — | $392M | $547M | — |
| Total debt | $728M | $782M | $326M | $2.45B | $3.60B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (MARA)
P/S 3.4x · P/B 1.6x · FCF yield -45.68% · Earnings yield -127.59% · Buyback yield (TTM) 0.98%
P/E at fiscal year-ends: Dec 2024 9.7x, Dec 2023 17.3x.
Analysts (MARA)
Consensus Buy (mean 2.47 on a 1–5 scale), 15 analysts; mean target USD 18.46 (low 10, high 30).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-20 | Piper Sandler | Target lowered | Overweight | $13 → $11 |
| 2026-10-12 | Morgan Stanley | Target lowered | Underweight | $11 → $10 |
| 2026-09-18 | Morgan Stanley | Target raised | Underweight | $6 → $11 |
| 2026-09-14 | JP Morgan | Downgrade | Overweight → Underweight | $13 → $11 |
| 2026-08-13 | Morgan Stanley | Target raised | Underweight | $5.5 → $6 |
| 2026-08-07 | Cantor Fitzgerald | Target lowered | Overweight | $14 → $12 |
| 2026-08-07 | Rosenblatt | Maintained | Buy | $15 |
| 2026-07-17 | Piper Sandler | Target lowered | Overweight | $16 → $13 |
| 2026-07-08 | Morgan Stanley | Target lowered | Underweight | $7 → $5.5 |
Total return (dividends reinvested) (MARA)
| 1Y (from 2025-10-24) | 5Y (from 2021-10-25) | |
|---|---|---|
| Total return | -64.1% | -86.6% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | -64.2% | -33.1% |
| Volatility (annualized) | 84.4% | 104.3% |
| Max drawdown | -65.6% (Oct 2025→Feb 2026) | -95.5% (Nov 2021→Dec 2022) |
MARA revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Participant | $12.8M | 7.3% | +15.8% |
| Operator Transaction Fees | $1.0M | 0.6% | -65.7% |
| Total revenue | $174.9M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
MARA company outlook (results filed Aug 6, 2026)
- “Together, these actions are expected to expand our power portfolio up to 4.8 GW, establishing one of the largest powered land portfolios in the industry.”
- “SHAREHOLDER LETTER Q2 2026 5 The four largest hyperscalers alone are expected to invest approximately $725 billion in AI infrastructure during 2026, with annual capital expenditures projected to exceed $1 trillion by 2027.”
- “At the same time, U.S. data center electricity demand is expected to increase from approximately 31 gigawatts in 2025 to 41 gigawatts in 2026 before reaching 66 gigawatts in 2027, while new power generation and transmission continue to lag demand.”
- “With more than 70% of its power output contracted under long-term agreements, we expect Long Ridge will enhance our earnings profile while significantly expanding our AI infrastructure opportunity.”
Quoted word-for-word from the SEC 8-K results press release.
MARA analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $-0.10 | $0.20 | -151.3% | $175.7M | 1 |
| Next quarter (ends Dec 2026) | $1.37 | $-0.20 | -768.3% | $183.9M | 1 |
| Current fiscal year (ends Dec 2026) | $-3.54 | $-3.75 | -5.5% | $707.1M | 1 |
| Next fiscal year (ends Dec 2027) | $-0.34 | $-1.27 | -73.3% | $805.3M | 2 |
Key Statistics (as of October 24, 2026 at 03:02 UTC)
| Price | USD 7.02 |
|---|---|
| Change | ▼ 3.17% (down) |
| Previous Close | USD 7.25 |
| Open | USD 7.24 |
| Day Range | USD 7.01 – 7.53 |
| 52-Week Range | USD 6.66 – 20.47 |
| Volume | 33,750,652 shares |
| Market Cap | $2.71B |
| Exchange | NCM |
Technical Analysis (MARA)
Nexqual's technical model rates MARA "SELL" based on 2 bullish and 5 bearish signals across 127 daily candles, as of October 24, 2026 at 03:02 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 23.85 (oversold) |
| vs SMA50 | Below (USD 10.64) |
| MACD | -1.16 (negative) |
Analyst Ratings (MARA)
Wall Street analysts rate MARA "Buy" based on 15 analysts, with a mean price target of USD 18.46 (range USD 10–30), per Nexqual as of October 24, 2026 at 03:02 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 15 |
| Mean Target | USD 18.46 |
| High Target | USD 30 |
| Low Target | USD 10 |
| Buy / Hold / Sell | 9 / 4 / 2 |
Earnings (MARA)
| Next Earnings Date | 2026-11-04 |
|---|---|
| EPS Estimate | USD -0.1 |
| Revenue Estimate | $175.67M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD -0.62 vs est -0.48 ▼ miss |
| 2026-03-31 | USD -0.63 vs est -0.85 ▲ beat |
| 2025-12-31 | USD -0.77 vs est -0.03 ▼ miss |
| 2025-09-30 | USD 0.37 vs est 0.35 ▲ beat |
Source: Nexqual, October 24, 2026 at 03:02 UTC.
Financials & Fundamentals (MARA)
| Total Revenue | $804.22M |
|---|---|
| Revenue Growth (latest quarter, YoY) | -26.70% |
| Gross Margin | +40.12% |
| Operating Margin | -265.21% |
| Profit Margin | +0.00% |
| ROE | -105.57% |
| Debt / Equity | 1.4 |
| Current Ratio | 0.89 |
| Total Cash | $421.27M |
| Total Debt | $2.47B |
Source: Nexqual, October 24, 2026 at 03:02 UTC.
Financial Health Score (MARA)
Nexqual rates MARA Holdings, Inc.'s overall financial health "Mixed" across five dimensions, as of October 24, 2026 at 03:02 UTC.
| Growth | Strong — Revenue +38% YoY (annual) |
|---|---|
| Profitability | Critical — Net margin -145% (last 12 months); banks have no gross margin |
| Balance Sheet | N/A — Not comparable for banks: deposits and customer funds sit on the balance sheet, so cash vs debt does not measure safety (SEC industry: Finance Services) |
| Cash Flow | N/A — Not meaningful for banks and lenders: lending and trading move operating cash flow by billions each year (SEC industry: Finance Services) |
| Efficiency | Critical — ROE -106%, ROA -26.3% |
Ownership (MARA)
| Insider Ownership | +0.78% |
|---|---|
| Institutional Ownership | +75.92% |
| Shares Outstanding | 386.30M |
| Float | 378.49M |
| Short % of Float | +29.84% |
Source: Nexqual, October 24, 2026 at 03:02 UTC.
Leadership (MARA)
MARA Holdings, Inc. is led by Frederick G. Thiel, CEO & Executive Chairman, per Nexqual as of October 24, 2026 at 03:02 UTC.
| CEO & Executive Chairman | Frederick G. Thiel |
|---|---|
| Chief Financial Officer | Salman H. Khan |
| Chief Operating Officer | James G. Crawford |
| Vice President of Investor Relations | Robert Samuels |
| Vice President of Finance & Operations Control | William Beam |
Major Backers & Investors (MARA)
Notable institutional backers of MARA Holdings, Inc. include Shaw D.E. & Co., Inc., Marex Group Ltd., Morgan Stanley, according to Nexqual as of October 24, 2026 at 03:02 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Shaw D.E. & Co., Inc. | 2.69% |
| Marex Group Ltd. | 2.06% |
| Morgan Stanley | 1.75% |
| Bank of America Corporation | 1.58% |
| UBS Group AG | 1.44% |
| Fidelity | 1.1% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 16.59% |
| Vanguard Group | 11.37% |
| State Street | 4.12% |
| Geode Capital | 2.81% |
Source: Nexqual, October 24, 2026 at 03:02 UTC.
From MARA Holdings, Inc.'s Latest SEC 10-K Filing (filed 2026-03-02)
Key Strengths & Strategy (as disclosed to the SEC)
- The joint venture structure is designed to enable us to participate in the development of hyperscale AI and HPC infrastructure in a capital-efficient and strategically flexible manner, leveraging our energized sites and operational expertise alongside Starwood's development capabilities, financing experience and hyperscale customer relationships, and may be expanded to include additional sites within our portfolio over time.
- We believe we are one of the largest holders of bitcoin among publicly traded companies.
- As we evaluate and develop AI inference capabilities within our infrastructure, we expect any potential AI-related revenue to be derived from offering inference compute capacity and private, dedicated cloud solutions to third-party customers, with pricing based on usage, capacity commitments, or other commercial arrangements.
- Alongside our Bitcoin mining foundation, we are in the process of taking initial steps to extend our platform beyond Bitcoin mining and into AI and HPC workloads, leveraging our core competencies in energy ownership, flexible load management, and rapid compute deployment.
Legal & Regulatory Risks (Item 1A, quoted)
- The U.S. political and economic environment could materially impact our business operations and financial performance, and uncertainty surrounding the potential legal, regulatory and policy changes by the U.S. presidential administration may directly affect us and the global economy.
- Changes in regulatory interpretations could require us to register as a money services business or money transmitter, leading to increased compliance costs or operational shutdowns.
- Our interactions with the Bitcoin network may expose us to transactions with sanctioned individuals, leading to regulatory penalties and reputational harm.
- The lack of a comprehensive and uniform regulatory framework governing many bitcoin trading venues may expose us to market structure risks, fraud, security failures and operational disruptions, which could adversely affect the value and liquidity of our bitcoin holdings.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
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Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 24, 2026 at 03:02 UTC. This page is informational and not investment advice.
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