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Side-by-side financial comparison of Cipher Mining Inc. (CIFR) and NACCO INDUSTRIES INC (NC). Click either name above to swap in a different company.
NACCO INDUSTRIES INC is the larger business by last-quarter revenue ($66.8M vs $59.7M, roughly 1.1× Cipher Mining Inc.). NACCO INDUSTRIES INC runs the higher net margin — -5.8% vs -1229.6%, a 1223.8% gap on every dollar of revenue. On growth, Cipher Mining Inc. posted the faster year-over-year revenue change (41.4% vs -5.2%). Over the past eight quarters, NACCO INDUSTRIES INC's revenue compounded faster (11.9% CAGR vs 11.4%).
Cipher Mining, Inc. operates as a Bitcoin mining ecosystem in the United States. The firm is developing a cryptocurrency business.
NACCO Industries, Inc. is an American publicly traded holding company, headquartered in Cleveland, Ohio. Through a portfolio of mining and natural resources businesses, the company operates under three business segments: Coal Mining, North American Mining, and Minerals Management. The Coal Mining segment operates surface coal mines under long-term contracts with power generation companies and an activated carbon producer pursuant to a service-based business model. The North American Mining se...
CIFR vs NC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $59.7M | $66.8M |
| Net Profit | $-734.2M | $-3.8M |
| Gross Margin | 59.4% | 18.0% |
| Operating Margin | -503.4% | 11.3% |
| Net Margin | -1229.6% | -5.8% |
| Revenue YoY | 41.4% | -5.2% |
| Net Profit YoY | -4293.1% | -150.8% |
| EPS (diluted) | $-1.91 | $-0.53 |
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 | $66.8M | ||
| Q3 25 | $71.7M | $76.6M | ||
| Q2 25 | $43.6M | $68.2M | ||
| Q1 25 | $49.0M | $65.6M | ||
| Q4 24 | $42.2M | $70.4M | ||
| Q3 24 | $24.1M | $61.7M | ||
| Q2 24 | $36.8M | $52.3M | ||
| Q1 24 | $48.1M | $53.3M |
| Q4 25 | $-734.2M | $-3.8M | ||
| Q3 25 | $-3.3M | $13.3M | ||
| Q2 25 | $-45.8M | $3.3M | ||
| Q1 25 | $-39.0M | $4.9M | ||
| Q4 24 | $17.5M | $7.6M | ||
| Q3 24 | $-86.8M | $15.6M | ||
| Q2 24 | $-15.3M | $6.0M | ||
| Q1 24 | $39.9M | $4.6M |
| Q4 25 | 59.4% | 18.0% | ||
| Q3 25 | 62.7% | 13.0% | ||
| Q2 25 | 64.8% | 10.0% | ||
| Q1 25 | 69.6% | 14.7% | ||
| Q4 24 | 56.9% | 12.0% | ||
| Q3 24 | 37.5% | 11.7% | ||
| Q2 24 | 61.2% | 13.4% | ||
| Q1 24 | 69.2% | 13.2% |
| Q4 25 | -503.4% | 11.3% | ||
| Q3 25 | -52.5% | 8.8% | ||
| Q2 25 | -103.9% | -0.1% | ||
| Q1 25 | -77.8% | 11.7% | ||
| Q4 24 | 40.5% | 5.5% | ||
| Q3 24 | -379.2% | 31.9% | ||
| Q2 24 | -43.9% | 14.1% | ||
| Q1 24 | 97.2% | 8.9% |
| Q4 25 | -1229.6% | -5.8% | ||
| Q3 25 | -4.6% | 17.3% | ||
| Q2 25 | -105.1% | 4.8% | ||
| Q1 25 | -79.6% | 7.5% | ||
| Q4 24 | 41.5% | 10.7% | ||
| Q3 24 | -359.9% | 25.4% | ||
| Q2 24 | -41.5% | 11.4% | ||
| Q1 24 | 82.9% | 8.6% |
| Q4 25 | $-1.91 | $-0.53 | ||
| Q3 25 | $-0.01 | $1.78 | ||
| Q2 25 | $-0.12 | $0.44 | ||
| Q1 25 | $-0.11 | $0.66 | ||
| Q4 24 | $0.04 | $0.99 | ||
| Q3 24 | $-0.26 | $2.14 | ||
| Q2 24 | $-0.05 | $0.81 | ||
| Q1 24 | $0.13 | $0.61 |
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 | $49.7M |
| Total DebtLower is stronger | $2.7B | $100.8M |
| Stockholders' EquityBook value | $805.5M | $429.2M |
| Total Assets | $4.3B | $661.2M |
| Debt / EquityLower = less leverage | 3.37× | 0.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $628.3M | $49.7M | ||
| Q3 25 | $1.2B | $52.7M | ||
| Q2 25 | $62.7M | $49.4M | ||
| Q1 25 | $23.2M | $61.9M | ||
| Q4 24 | $5.6M | $72.8M | ||
| Q3 24 | $25.3M | $63.1M | ||
| Q2 24 | $122.6M | $62.4M | ||
| Q1 24 | $88.7M | $61.8M |
| Q4 25 | $2.7B | $100.8M | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $167.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | $99.4M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $29.0M | ||
| Q1 24 | — | $28.4M |
| Q4 25 | $805.5M | $429.2M | ||
| Q3 25 | $783.2M | $426.4M | ||
| Q2 25 | $748.9M | $413.1M | ||
| Q1 25 | $734.8M | $409.1M | ||
| Q4 24 | $682.0M | $404.9M | ||
| Q3 24 | $672.0M | $397.3M | ||
| Q2 24 | $690.8M | $384.1M | ||
| Q1 24 | $600.9M | $381.6M |
| Q4 25 | $4.3B | $661.2M | ||
| Q3 25 | $2.8B | $637.6M | ||
| Q2 25 | $1.0B | $631.3M | ||
| Q1 25 | $913.8M | $634.2M | ||
| Q4 24 | $855.4M | $631.7M | ||
| Q3 24 | $775.4M | $597.4M | ||
| Q2 24 | $775.6M | $560.1M | ||
| Q1 24 | $677.1M | $538.0M |
| Q4 25 | 3.37× | 0.23× | ||
| Q3 25 | 1.31× | — | ||
| Q2 25 | 0.22× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | 0.25× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.08× | ||
| Q1 24 | — | 0.07× |
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 | $11.4M |
| Free Cash FlowOCF − Capex | $-695.9M | — |
| FCF MarginFCF / Revenue | -1165.4% | — |
| Capex IntensityCapex / Revenue | 817.1% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.1B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-207.9M | $11.4M | ||
| Q3 25 | $-50.1M | $42.3M | ||
| Q2 25 | $-56.2M | $-7.8M | ||
| Q1 25 | $-47.2M | $5.0M | ||
| Q4 24 | $-87.5M | $25.2M | ||
| Q3 24 | $-6.5M | $2.8M | ||
| Q2 24 | $-25.4M | $4.1M | ||
| Q1 24 | $-26.6M | $-9.8M |
| Q4 25 | $-695.9M | — | ||
| Q3 25 | $-256.2M | — | ||
| Q2 25 | $-87.5M | — | ||
| Q1 25 | $-71.8M | — | ||
| Q4 24 | $-227.0M | — | ||
| Q3 24 | $-83.2M | — | ||
| Q2 24 | $-33.2M | — | ||
| Q1 24 | $-34.5M | — |
| Q4 25 | -1165.4% | — | ||
| Q3 25 | -357.3% | — | ||
| Q2 25 | -200.9% | — | ||
| Q1 25 | -146.7% | — | ||
| Q4 24 | -537.6% | — | ||
| Q3 24 | -345.0% | — | ||
| Q2 24 | -90.2% | — | ||
| Q1 24 | -71.7% | — |
| Q4 25 | 817.1% | — | ||
| Q3 25 | 287.5% | — | ||
| Q2 25 | 71.8% | — | ||
| Q1 25 | 50.2% | — | ||
| Q4 24 | 330.4% | — | ||
| Q3 24 | 317.8% | — | ||
| Q2 24 | 21.4% | — | ||
| Q1 24 | 16.4% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 3.19× | ||
| Q2 25 | — | -2.39× | ||
| Q1 25 | — | 1.03× | ||
| Q4 24 | -5.00× | 3.33× | ||
| Q3 24 | — | 0.18× | ||
| Q2 24 | — | 0.68× | ||
| Q1 24 | -0.67× | -2.14× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CIFR
Segment breakdown not available.
NC
| Transferred Over Time | $42.7M | 64% |
| Transferred At Point In Time | $24.1M | 36% |
