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Riot Platforms, Inc. key statistics and ratios

In fiscal 2025, Riot Platforms, Inc. had return on equity of -22.1% and a net margin of -102.4%. 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.

Fiscal year2017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Net margin<−999%−739.4%−293.1%−116.8%−7.2%−196.6%−17.6%29.0%−102.4%−196.3%
Return on equity−40.6%—−125.1%−9.4%−1.9%−40.8%−3.3%4.3%−22.1%−52.4%
Return on assets−37.9%−175.3%−90.6%−9.1%−1.7%−35.9%−2.9%3.7%−16.8%−36.8%
Effective tax rate———————0.7%——
R&D as % of revenue7.4%—————————
SG&A as % of revenue>999%265.9%134.0%723.7%41.0%26.0%35.8%70.9%46.1%45.9%

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

8 /100

Weak moat

How hard Riot Platforms's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -32.7% of total assets over 10 years.

  • Durability 10 / 20

    Operating margin has been a median -111.5%; its worst year was -1380.2%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 7 years, at a median -94.3% of revenue.

  • Discipline 0 / 20

    The diluted share count rose 4898.2% over five years; stock-based pay has been a median 22.8% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (12 before it).

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

Compare with peers

Head to head: FSLY vs RIOTLZ vs RIOTMARA vs RIOT

More: Internet Services & Infrastructure stocks compared, Technology sector, rankings of US companies

Figures from Riot Platforms, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Riot Platforms, Inc.