Bitfufu Inc. key statistics and ratios

In fiscal 2025, Bitfufu Inc. had return on equity of -20.0%, an operating margin of -5.0%, debt equal to 73.1% of equity and a current ratio of 3.30. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Bitfufu Inc.: financial ratios, annual
Fiscal year	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	8.8%	18.3%	4.5%	6.4%	6.1%
Operating margin	5.7%	2.0%	5.8%	14.3%	−5.0%
Net margin	4.8%	1.2%	3.7%	11.6%	−6.5%
Return on equity	101.9%	41.8%	86.8%	60.0%	−20.0%
Return on assets	—	1.2%	5.1%	18.4%	−8.5%
Asset turnover	—	1.00	1.39	1.58	1.30
Current ratio	—	1.07	1.40	4.15	3.30
Debt to equity	0.0%	>999%	599.8%	62.4%	73.1%
Interest cover (operating income ÷ interest)	—	1.5x	3.0x	10.5x	n/m
Effective tax rate	17.5%	−37.5%	17.2%	12.4%	—
R&D as % of revenue	0.5%	0.8%	0.6%	1.2%	0.5%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Bitfufu Inc.'s SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Bitfufu Inc.