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Side-by-side financial comparison of Cipher Mining Inc. (CIFR) and MARINE PRODUCTS CORP (MPX). Click either name above to swap in a different company.
MARINE PRODUCTS CORP is the larger business by last-quarter revenue ($64.6M vs $59.7M, roughly 1.1× Cipher Mining Inc.). MARINE PRODUCTS CORP runs the higher net margin — 3.7% vs -1229.6%, a 1233.3% gap on every dollar of revenue. On growth, Cipher Mining Inc. posted the faster year-over-year revenue change (41.4% vs 35.0%). MARINE PRODUCTS CORP produced more free cash flow last quarter ($4.1M vs $-695.9M). Over the past eight quarters, Cipher Mining Inc.'s revenue compounded faster (11.4% CAGR vs -3.5%).
Cipher Mining, Inc. operates as a Bitcoin mining ecosystem in the United States. The firm is developing a cryptocurrency business.
West Marine is an American company based in Fort Lauderdale, Florida, which operates a chain of boating supply and fishing retail stores. The company has 247 retail stores in North America. West Marine also runs Blue Future a non profit organization. West Marine's flagship store is in Fort Lauderdale. Opened on November 11, 2011, the store is the company's largest at over 50,000 square feet.
CIFR vs MPX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $59.7M | $64.6M |
| Net Profit | $-734.2M | $2.4M |
| Gross Margin | 59.4% | 19.6% |
| Operating Margin | -503.4% | 5.8% |
| Net Margin | -1229.6% | 3.7% |
| Revenue YoY | 41.4% | 35.0% |
| Net Profit YoY | -4293.1% | -44.6% |
| EPS (diluted) | $-1.91 | $0.07 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $59.7M | $64.6M | ||
| Q3 25 | $71.7M | $53.1M | ||
| Q2 25 | $43.6M | $67.7M | ||
| Q1 25 | $49.0M | $59.0M | ||
| Q4 24 | $42.2M | $47.8M | ||
| Q3 24 | $24.1M | $49.9M | ||
| Q2 24 | $36.8M | $69.5M | ||
| Q1 24 | $48.1M | $69.3M |
| Q4 25 | $-734.2M | $2.4M | ||
| Q3 25 | $-3.3M | $2.6M | ||
| Q2 25 | $-45.8M | $4.2M | ||
| Q1 25 | $-39.0M | $2.2M | ||
| Q4 24 | $17.5M | $4.3M | ||
| Q3 24 | $-86.8M | $3.4M | ||
| Q2 24 | $-15.3M | $5.6M | ||
| Q1 24 | $39.9M | $4.6M |
| Q4 25 | 59.4% | 19.6% | ||
| Q3 25 | 62.7% | 19.2% | ||
| Q2 25 | 64.8% | 19.1% | ||
| Q1 25 | 69.6% | 18.6% | ||
| Q4 24 | 56.9% | 19.2% | ||
| Q3 24 | 37.5% | 18.4% | ||
| Q2 24 | 61.2% | 18.9% | ||
| Q1 24 | 69.2% | 20.2% |
| Q4 25 | -503.4% | 5.8% | ||
| Q3 25 | -52.5% | 5.4% | ||
| Q2 25 | -103.9% | 7.1% | ||
| Q1 25 | -77.8% | 4.4% | ||
| Q4 24 | 40.5% | 7.7% | ||
| Q3 24 | -379.2% | 7.2% | ||
| Q2 24 | -43.9% | 8.3% | ||
| Q1 24 | 97.2% | 7.6% |
| Q4 25 | -1229.6% | 3.7% | ||
| Q3 25 | -4.6% | 5.0% | ||
| Q2 25 | -105.1% | 6.1% | ||
| Q1 25 | -79.6% | 3.7% | ||
| Q4 24 | 41.5% | 8.9% | ||
| Q3 24 | -359.9% | 6.8% | ||
| Q2 24 | -41.5% | 8.0% | ||
| Q1 24 | 82.9% | 6.6% |
| Q4 25 | $-1.91 | $0.07 | ||
| Q3 25 | $-0.01 | $0.07 | ||
| Q2 25 | $-0.12 | $0.12 | ||
| Q1 25 | $-0.11 | $0.06 | ||
| Q4 24 | $0.04 | $0.13 | ||
| Q3 24 | $-0.26 | $0.10 | ||
| Q2 24 | $-0.05 | $0.14 | ||
| Q1 24 | $0.13 | $0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $628.3M | — |
| Total DebtLower is stronger | $2.7B | — |
| Stockholders' EquityBook value | $805.5M | $125.0M |
| Total Assets | $4.3B | $147.2M |
| Debt / EquityLower = less leverage | 3.37× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $628.3M | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $62.7M | — | ||
| Q1 25 | $23.2M | — | ||
| Q4 24 | $5.6M | — | ||
| Q3 24 | $25.3M | — | ||
| Q2 24 | $122.6M | — | ||
| Q1 24 | $88.7M | — |
| Q4 25 | $2.7B | — | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $167.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $805.5M | $125.0M | ||
| Q3 25 | $783.2M | $126.3M | ||
| Q2 25 | $748.9M | $127.2M | ||
| Q1 25 | $734.8M | $126.4M | ||
| Q4 24 | $682.0M | $129.0M | ||
| Q3 24 | $672.0M | $128.8M | ||
| Q2 24 | $690.8M | $129.3M | ||
| Q1 24 | $600.9M | $151.4M |
| Q4 25 | $4.3B | $147.2M | ||
| Q3 25 | $2.8B | $179.5M | ||
| Q2 25 | $1.0B | $173.2M | ||
| Q1 25 | $913.8M | $182.9M | ||
| Q4 24 | $855.4M | $171.2M | ||
| Q3 24 | $775.4M | $176.3M | ||
| Q2 24 | $775.6M | $175.7M | ||
| Q1 24 | $677.1M | $204.0M |
| Q4 25 | 3.37× | — | ||
| Q3 25 | 1.31× | — | ||
| Q2 25 | 0.22× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-207.9M | $4.7M |
| Free Cash FlowOCF − Capex | $-695.9M | $4.1M |
| FCF MarginFCF / Revenue | -1165.4% | 6.4% |
| Capex IntensityCapex / Revenue | 817.1% | 0.9% |
| Cash ConversionOCF / Net Profit | — | 2.00× |
| TTM Free Cash FlowTrailing 4 quarters | $-1.1B | $14.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-207.9M | $4.7M | ||
| Q3 25 | $-50.1M | $2.6M | ||
| Q2 25 | $-56.2M | $-1.6M | ||
| Q1 25 | $-47.2M | $10.8M | ||
| Q4 24 | $-87.5M | $4.6M | ||
| Q3 24 | $-6.5M | $5.1M | ||
| Q2 24 | $-25.4M | $3.8M | ||
| Q1 24 | $-26.6M | $15.9M |
| Q4 25 | $-695.9M | $4.1M | ||
| Q3 25 | $-256.2M | $2.1M | ||
| Q2 25 | $-87.5M | $-2.0M | ||
| Q1 25 | $-71.8M | $10.7M | ||
| Q4 24 | $-227.0M | $3.6M | ||
| Q3 24 | $-83.2M | $3.2M | ||
| Q2 24 | $-33.2M | $3.0M | ||
| Q1 24 | $-34.5M | $15.0M |
| Q4 25 | -1165.4% | 6.4% | ||
| Q3 25 | -357.3% | 4.0% | ||
| Q2 25 | -200.9% | -3.0% | ||
| Q1 25 | -146.7% | 18.1% | ||
| Q4 24 | -537.6% | 7.6% | ||
| Q3 24 | -345.0% | 6.5% | ||
| Q2 24 | -90.2% | 4.4% | ||
| Q1 24 | -71.7% | 21.7% |
| Q4 25 | 817.1% | 0.9% | ||
| Q3 25 | 287.5% | 0.8% | ||
| Q2 25 | 71.8% | 0.6% | ||
| Q1 25 | 50.2% | 0.2% | ||
| Q4 24 | 330.4% | 2.1% | ||
| Q3 24 | 317.8% | 3.8% | ||
| Q2 24 | 21.4% | 1.1% | ||
| Q1 24 | 16.4% | 1.3% |
| Q4 25 | — | 2.00× | ||
| Q3 25 | — | 0.97× | ||
| Q2 25 | — | -0.39× | ||
| Q1 25 | — | 4.88× | ||
| Q4 24 | -5.00× | 1.09× | ||
| Q3 24 | — | 1.51× | ||
| Q2 24 | — | 0.68× | ||
| Q1 24 | -0.67× | 3.46× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CIFR
Segment breakdown not available.
MPX
| Boats And Accessories | $63.4M | 98% |
| Parts | $1.1M | 2% |
