Where Does MARA Stock Rank Among Competitors?
MARA stock has notably underperformed peers over the last year. As of 2/25/2026, how does its leading revenue and low P/E truly measure against rivals in the volatile crypto mining sector? While showing strong top-line ($0.919B revenue) and moderate valuation (3.44 P/E ratio), MARA faces significant profitability challenges with deeply negative operating (-0.680 LTM Operating Margin) and free cash flow margins (-1.439 LTM FCF Margin), potentially limiting its upside in a highly competitive, capital-intensive environment.
- MARA’s -68.0% operating margin, trailing HUT (60.3%), signals high energy/operational costs or less revenue diversification.
- MARA’s 53.5% revenue growth, outpacing CORZ, CIFR but lagging RIOT, CLSK, HUT, implies less AI/HPC diversification or lower hash rate efficiency.
- MARA’s 31.0% stock decline, underperforming peers with a 3.4 P/E, implies investor concerns on profitability, post-halving challenges, or less AI diversification.
Here’s how MARA stacks up across size, valuation, and profitability versus key peers.
| MARA | RIOT | CLSK | HUT | CORZ | CIFR | |
|---|---|---|---|---|---|---|
| Market Cap ($ Bil) | 3.2 | 5.9 | 2.9 | 5.8 | 5.8 | 6.5 |
| Revenue ($ Bil) | 0.9 | 0.6 | 0.8 | 0.7 | 0.3 | 0.2 |
| PE Ratio | 3.4 | 36.1 | -11.3 | 28.4 | -7.5 | -92.6 |
| LTM Revenue Growth | 53.5% | 103.6% | 68.0% | 88.7% | -40.1% | 35.4% |
| LTM Operating Margin | -68.0% | -50.8% | -21.2% | 60.3% | -47.5% | -68.7% |
| LTM FCF Margin | -144.0% | -256.0% | -133.1% | -112.5% | -106.0% | -252.7% |
| 12M Market Return | -31.0% | 83.3% | 28.2% | 271.9% | 85.2% | 305.1% |
For more details on MARA, read Buy or Sell MARA Stock. Below we compare MARA’s growth, margin, and valuation with peers across years
Revenue Growth Comparison
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| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| MARA | 53.5% | – | 69.4% | 229.1% | -26.0% |
| RIOT | 103.6% | – | 34.2% | 8.3% | 21.5% |
| CLSK | 68.0% | 102.2% | 125.0% | 28.0% | |
| HUT | 88.7% | – | 422.0% | 9.5% | |
| CORZ | -40.1% | – | 1.6% | -21.5% | 17.6% |
| CIFR | 35.4% | – | 19.3% | 4076.6% | ∞% |
Operating Margin Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| MARA | -68.0% | – | -71.2% | -28.5% | -99.0% |
| RIOT | -50.8% | – | -88.0% | -90.9% | -31.9% |
| CLSK | -21.2% | -14.0% | -15.6% | -73.2% | |
| HUT | 60.3% | – | 69.1% | -2.9% | |
| CORZ | -47.5% | – | -2.4% | 3.1% | -38.2% |
| CIFR | -68.7% | – | -65.0% | -43.7% | -2386.1% |
PE Ratio Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| MARA | 3.4 | – | 4.8 | 11.8 | -3.8 |
| RIOT | 36.1 | – | 32.0 | -36.1 | -4.2 |
| CLSK | -11.3 | 7.8 | -13.7 | -8.2 | |
| HUT | 28.4 | – | 12.6 | -18.0 | |
| CORZ | -7.5 | – | -2.8 | -21.7 | � |
| CIFR | -92.6 | – | -106.8 | -45.4 | -26.3 |
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