vs
Side-by-side financial comparison of Cipher Mining Inc. (CIFR) and NPK International Inc. (NPKI). Click either name above to swap in a different company.
NPK International Inc. is the larger business by last-quarter revenue ($75.2M vs $59.7M, roughly 1.3× Cipher Mining Inc.). On growth, Cipher Mining Inc. posted the faster year-over-year revenue change (41.4% vs 30.7%). NPK International Inc. produced more free cash flow last quarter ($5.8M vs $-695.9M). Over the past eight quarters, NPK International Inc.'s revenue compounded faster (23.9% CAGR vs 11.4%).
Cipher Mining, Inc. operates as a Bitcoin mining ecosystem in the United States. The firm is developing a cryptocurrency business.
CIFR vs NPKI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $59.7M | $75.2M |
| Net Profit | $-734.2M | — |
| Gross Margin | 59.4% | 37.7% |
| Operating Margin | -503.4% | 16.7% |
| Net Margin | -1229.6% | — |
| Revenue YoY | 41.4% | 30.7% |
| Net Profit YoY | -4293.1% | — |
| EPS (diluted) | $-1.91 | $0.17 |
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 | $75.2M | ||
| Q3 25 | $71.7M | $68.8M | ||
| Q2 25 | $43.6M | $68.2M | ||
| Q1 25 | $49.0M | $64.8M | ||
| Q4 24 | $42.2M | $57.5M | ||
| Q3 24 | $24.1M | $44.2M | ||
| Q2 24 | $36.8M | $66.8M | ||
| Q1 24 | $48.1M | $49.0M |
| Q4 25 | $-734.2M | — | ||
| Q3 25 | $-3.3M | $5.7M | ||
| Q2 25 | $-45.8M | $8.7M | ||
| Q1 25 | $-39.0M | $10.0M | ||
| Q4 24 | $17.5M | — | ||
| Q3 24 | $-86.8M | $-174.3M | ||
| Q2 24 | $-15.3M | $8.0M | ||
| Q1 24 | $39.9M | $7.3M |
| Q4 25 | 59.4% | 37.7% | ||
| Q3 25 | 62.7% | 31.9% | ||
| Q2 25 | 64.8% | 36.9% | ||
| Q1 25 | 69.6% | 39.0% | ||
| Q4 24 | 56.9% | 39.2% | ||
| Q3 24 | 37.5% | 27.5% | ||
| Q2 24 | 61.2% | 37.2% | ||
| Q1 24 | 69.2% | 36.0% |
| Q4 25 | -503.4% | 16.7% | ||
| Q3 25 | -52.5% | 13.2% | ||
| Q2 25 | -103.9% | 17.0% | ||
| Q1 25 | -77.8% | 20.9% | ||
| Q4 24 | 40.5% | 20.2% | ||
| Q3 24 | -379.2% | 2.8% | ||
| Q2 24 | -43.9% | 18.7% | ||
| Q1 24 | 97.2% | 14.2% |
| Q4 25 | -1229.6% | — | ||
| Q3 25 | -4.6% | 8.2% | ||
| Q2 25 | -105.1% | 12.7% | ||
| Q1 25 | -79.6% | 15.4% | ||
| Q4 24 | 41.5% | — | ||
| Q3 24 | -359.9% | -394.3% | ||
| Q2 24 | -41.5% | 12.0% | ||
| Q1 24 | 82.9% | 14.9% |
| Q4 25 | $-1.91 | $0.17 | ||
| Q3 25 | $-0.01 | $0.07 | ||
| Q2 25 | $-0.12 | $0.10 | ||
| Q1 25 | $-0.11 | $0.11 | ||
| Q4 24 | $0.04 | $0.10 | ||
| Q3 24 | $-0.26 | $-1.99 | ||
| Q2 24 | $-0.05 | $0.09 | ||
| Q1 24 | $0.13 | $0.08 |
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 | $5.1M |
| Total DebtLower is stronger | $2.7B | $16.9M |
| Stockholders' EquityBook value | $805.5M | $351.2M |
| Total Assets | $4.3B | $441.8M |
| Debt / EquityLower = less leverage | 3.37× | 0.05× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $628.3M | $5.1M | ||
| Q3 25 | $1.2B | $35.6M | ||
| Q2 25 | $62.7M | $26.0M | ||
| Q1 25 | $23.2M | $20.8M | ||
| Q4 24 | $5.6M | $17.8M | ||
| Q3 24 | $25.3M | $42.9M | ||
| Q2 24 | $122.6M | $35.1M | ||
| Q1 24 | $88.7M | $37.7M |
| Q4 25 | $2.7B | $16.9M | ||
| Q3 25 | $1.0B | $9.5M | ||
| Q2 25 | $167.1M | $9.3M | ||
| Q1 25 | — | $8.1M | ||
| Q4 24 | $0 | $7.7M | ||
| Q3 24 | — | $14.0M | ||
| Q2 24 | — | $58.0M | ||
| Q1 24 | — | $77.4M |
| Q4 25 | $805.5M | $351.2M | ||
| Q3 25 | $783.2M | $333.9M | ||
| Q2 25 | $748.9M | $328.8M | ||
| Q1 25 | $734.8M | $326.9M | ||
| Q4 24 | $682.0M | $326.5M | ||
| Q3 24 | $672.0M | $316.5M | ||
| Q2 24 | $690.8M | $426.6M | ||
| Q1 24 | $600.9M | $421.6M |
| Q4 25 | $4.3B | $441.8M | ||
| Q3 25 | $2.8B | $404.5M | ||
| Q2 25 | $1.0B | $393.7M | ||
| Q1 25 | $913.8M | $390.0M | ||
| Q4 24 | $855.4M | $393.7M | ||
| Q3 24 | $775.4M | $389.6M | ||
| Q2 24 | $775.6M | $624.8M | ||
| Q1 24 | $677.1M | $640.8M |
| Q4 25 | 3.37× | 0.05× | ||
| Q3 25 | 1.31× | 0.03× | ||
| Q2 25 | 0.22× | 0.03× | ||
| Q1 25 | — | 0.02× | ||
| Q4 24 | 0.00× | 0.02× | ||
| Q3 24 | — | 0.04× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.18× |
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 | $18.0M |
| Free Cash FlowOCF − Capex | $-695.9M | $5.8M |
| FCF MarginFCF / Revenue | -1165.4% | 7.6% |
| Capex IntensityCapex / Revenue | 817.1% | 16.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.1B | $26.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-207.9M | $18.0M | ||
| Q3 25 | $-50.1M | $24.7M | ||
| Q2 25 | $-56.2M | $21.4M | ||
| Q1 25 | $-47.2M | $8.8M | ||
| Q4 24 | $-87.5M | $-4.1M | ||
| Q3 24 | $-6.5M | $2.8M | ||
| Q2 24 | $-25.4M | $27.6M | ||
| Q1 24 | $-26.6M | $11.9M |
| Q4 25 | $-695.9M | $5.8M | ||
| Q3 25 | $-256.2M | $12.0M | ||
| Q2 25 | $-87.5M | $9.7M | ||
| Q1 25 | $-71.8M | $-1.2M | ||
| Q4 24 | $-227.0M | $-17.7M | ||
| Q3 24 | $-83.2M | $-6.7M | ||
| Q2 24 | $-33.2M | $21.0M | ||
| Q1 24 | $-34.5M | $-1.9M |
| Q4 25 | -1165.4% | 7.6% | ||
| Q3 25 | -357.3% | 17.4% | ||
| Q2 25 | -200.9% | 14.3% | ||
| Q1 25 | -146.7% | -1.8% | ||
| Q4 24 | -537.6% | -30.8% | ||
| Q3 24 | -345.0% | -15.2% | ||
| Q2 24 | -90.2% | 31.4% | ||
| Q1 24 | -71.7% | -3.9% |
| Q4 25 | 817.1% | 16.3% | ||
| Q3 25 | 287.5% | 18.5% | ||
| Q2 25 | 71.8% | 17.1% | ||
| Q1 25 | 50.2% | 15.5% | ||
| Q4 24 | 330.4% | 23.6% | ||
| Q3 24 | 317.8% | 21.4% | ||
| Q2 24 | 21.4% | 9.9% | ||
| Q1 24 | 16.4% | 28.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | 4.37× | ||
| Q2 25 | — | 2.47× | ||
| Q1 25 | — | 0.88× | ||
| Q4 24 | -5.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.43× | ||
| Q1 24 | -0.67× | 1.64× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CIFR
Segment breakdown not available.
NPKI
| Rental Revenue | $34.8M | 46% |
| Products | $25.5M | 34% |
| Services | $14.9M | 20% |
