Riot Platforms, Inc. (RIOT) -Will high capex generate healthy growth?

Riot Platforms, Inc. (RIOT) (Q1FY23)

Introduction

Riot Platforms, Inc., together with its subsidiaries, operates as a bitcoin mining company in North America. It operates through Bitcoin Mining, Data Center Hosting, and Engineering segments. The company also provides co-location services for institutional-scale bitcoin mining companies, and critical infrastructure and workforce for institutional-scale miners to deploy and operate their miners.

In addition, it engages in the design and manufacturing of power distribution equipment and custom engineered electrical products; electricity distribution product design, manufacture, and installation services primarily focused on large-scale commercial and governmental customers, as well as a range of markets, including data center, power generation, utility, water, industrial, and alternative energy; operation of data centers; and maintenance/management of computing capacity.

Highlights

Riot, the top mining company in North America, has positioned itself well in terms of mining capacity by focusing on acquiring a large number of crypto miners and the recent acquisition of Whinstone, thanks to its aggressive management decisions.

Stock performance

The stock was trading in a range of $3 to $10 until Aug 2020 to Nov 2020, which further shot up to a high of $77.9 during Feb 2021 due to the high rise in Bitcoin prices.

Riot Platforms stock price further declined from the highs to the range of ~$18 and currently it was 18.23 on 1st Aug, 2023 and has given returns of 421% during the last three year period.

The stock price was mostly trending uptrend in the short term, it was above the price target mean during last three months and its returns were 70% during the same period from $10.74 to $18.23.

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Highlights

Valuation

– Enterprise Value
– CrispIdea Forecast
– CrispIdea Segment Forecast
– Peer Valuation
– CrispIdea Forecast Relative to Consensus
– Consensus History and Surprise
– Consensus Momentum

Actual & Historical Performance

– Income Statement
– Balance Sheet
– Cash Flow
– 10-Year Historical Performance
– Ratio Analysis
– Du Pont Analysis
– ROIC & ROCE Analysis
– Segment Performance
– Key Metrics
– M&A Deals

Peer Performance

– Summary
– Profitability
– Growth
– Price Performance

Ownership

Stock Price Performance

Crispidea Coverage

No of Pages: 30

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