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Riot Platforms, Inc.(RIOT)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL RECENCY
3-STAR RATING
STRONG BUY
BUY for 4 days
PROFIT SINCE LAST BUY
-7.74% ▼
LAST CLOSE
$23
09/25/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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  • 1Y
  • 1M
  • 1W
  • BUY Advisory
  • SELL Advisory (Profit)
  • SELL Advisory (Loss)
  • Profit
  • Loss
  • PASS (Skip)
Upturn Stock price based on last close iconStock price based on last close

Advisory Performance History (Simulated)Advisory Performance History info

Upturn Advisory & Investor View for RIOT

09/25/2026: RIOT (3-star) is a STRONG-BUY. BUY for 4 days. Simulated Profits (-7.74%). Updated daily EoD!

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Price Behavior

Strong Uptrend
PRICE PATH

Strong Uptrend

The stock has maintained a strong upward price trend across the last three quarters.

Highly Choppy
PRICE STABILITY

Highly Choppy

The stock has experienced frequent, large price swings that make its near-term movement less predictable.

Analysis of Past Performance

Type Stock
Historic Profit 12.23%
Avg. Invested days 23
Today’s Advisory Strong Buy
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 3.0
Stock Returns Performance Upturn Returns Performance icon 2.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/25/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
RIOT receives a 3-star rating, supported by solid analyst coverage. The rating is constrained by weak unit economics, soft quantitative characteristics, and weak price momentum.

Company Fundamentals

★★★★★
RIOT has moderate overall fundamentals (3 stars), with soft financial health, moderate growth momentum, and strong ownership. In FY2025 versus FY2024, strong revenue growth (+71.9%) is partially offset by negative earnings growth (-706.2%), soft cash generation (FCF margin -119.6%), soft profitability (net margin -102.4%).

Financial Health Rating

★★★★★
RIOT's financial health is supported by soft liquidity, including working-capital and asset support (WC/assets -0.5%). Profitability is weak (1 stars), which helps explain the 2-star overall score.

Growth Momentum Score

★★★★★
Revenue growth is RIOT's strongest growth driver at +71.9% FY2025 versus FY2024 (strong, 5 stars). By comparison, free-cash-flow growth (+49.1%, strong) is also strong, while earnings growth (-706.2%, negative) holds the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 87.5% and approximately 93.0% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 6.84% supports management-shareholder alignment.

Top 5 Institutional Investors

BlackRock Inc 7.90%
Vanguard Portfolio Management, LLC 5.78%
Situational Awareness LP 4.56%
Starboard Value LP 4.14%
FMR Inc 4.00%

Unit Economics (Per $1K Revenue)

★★★★★
RIOT generates approximately $-156 of gross profit, $-618 of operating income, and $-1,196 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong cash conversion and healthy margins support the rating, although capital efficiency remains below the highest tier.

Economic Dimensions

★★★★★
Effective Tax Rate: 0.02%

Quantitative Style Profile

★★★★★
RIOT has a liquid profile. Weak momentum is the primary drawback, while valuation that is moderately attractive rather than deeply discounted.

Style Classification

Quality Focused

High VolatilitySmall / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Mid-Cap Stock
Market Capitalization 8.81B USD
Price to earnings Ratio -
1Y Target Price 32.4
Price to earnings Ratio -
1Y Target Price 32.4
Volume (30-day avg) 16.9M shares
Beta 3.83
52 Weeks Range 11.50 - 30.32
Updated Date 09/25/2026
52 Weeks Range 11.50 - 30.32
Updated Date 09/25/2026
Dividends yield (FY) -
Basic EPS (TTM) -3.65

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

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Valuation

Trailing PE -
Forward PE 20.88
Enterprise Value 9.68B
Price to Sales(TTM) 13.06
Enterprise Value 9.68B
Price to Sales(TTM) 13.06
Enterprise Value to Revenue 12.78
Enterprise Value to EBITDA 34.88
Shares Outstanding 375.26M
Shares Floating 349.14M
Shares Outstanding 375.26M
Shares Floating 349.14M
Percent Insiders 6.84
Percent Institutions 87.48

Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Riot Platforms, Inc.

Exchange NASDAQ
Headquarters Castle Rock, CO, United States
IPO Launch date 2003-01-24
CEO & Executive Director Mr. Jason Les
Sector Financial Services
Industry Capital Markets
Full time employees 816
Full time employees 816

Riot Platforms, Inc., together with its subsidiaries, operates as a Bitcoin mining company in the United States. It operates in two segments, Bitcoin Mining and Engineering. The company offers comprehensive and critical infrastructure for bitcoin mining and data center services at its facilities. The company also designs and manufactures power distribution equipment and engineered-to-order electrical products; and electricity distribution product design, manufacturing, and installation services for large-scale industrial and governmental customers, as well as data center, power generation, utility, water, industrial, and alternative energy markets. The company was founded in 2000 and is based in Castle Rock, Colorado.