Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data Core Scientific, Inc./tx files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
60.3
544
640
502
511
319
Cost of revenue
50.9
306
632
379
390
281
Gross profit
9.39
239
8.4
123
121
37.9
Research and development
5.27
7.67
27
7.18
11.8
Selling, general and administrative
108
114
159
Selling and marketing
1.77
4.06
12.7
7.02
9.97
General and administrative
14.6
60.5
213
93.9
110
Operating expenses
21.6
72.2
253
Operating income
-6.33
131
-2,110
8.96
-142
-246
Interest income
0.03
Other non-operating income
-5.88
-68.4
-53.9
-255
-1,295
-42.4
Pre-tax income
-12.2
63.1
-2,163
-246
-1,437
-288
Income tax
0
15.8
-17.1
0.68
0.86
0.58
Net income
-12.2
47.3
-2,146
-246
-1,438
-289
EBITDA
3.08
165
-1,884
105
-28.9
-177
EPS, basic
-0.14
0.23
-6.30
-0.65
-4.87
-0.88
EPS, diluted
-0.14
0.20
-6.30
-0.65
-4.87
-0.88
Shares, basic (weighted)
158
207
341
380
256
318
Shares, diluted (weighted)
158
233
341
380
256
318
Balance sheet
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
8.72
118
15.9
50.4
836
311
Receivables
1.38
0.23
1
1.03
Other current assets
30.1
31.9
24
42.1
25
Total current assets
757
85.1
97
904
896
Property, plant and equipment
597
691
585
433
1,293
Lease right-of-use assets
20.4
7.84
114
108
Goodwill
1,056
0
0
Intangible assets
8.2
1.7
2.25
1.08
Other non-current assets
21
9.32
21.9
24
49.2
Total assets
0.02
2,439
808
712
1,476
2,348
Accounts payable
11.6
53.6
155
19.3
126
Accrued liabilities
0
67.9
18
180
69.2
512
Deferred revenue
63.4
77.7
18.1
128
Short-term debt
0
Total current liabilities
0
320
187
488
135
781
Long-term debt
652
0
684
1,074
1,060
Lease liabilities
0.72
1.51
97.8
89
Other non-current liabilities
18.5
2.21
0
11
104
Total liabilities
0
1,053
1,217
1,309
2,419
3,310
Total debt
1,060
Paid-in capital
0.02
1,380
1,764
1,823
2,915
3,184
Retained earnings
-0.01
-27.4
-2,174
-2,420
-3,858
-4,147
Other comprehensive income
-11
0
Shareholders' equity
89.2
1,341
-409
-597
-943
-963
Total equity
89.2
1,341
-409
-597
-943
-963
Total liabilities and equity
0.02
2,439
808
712
1,476
2,348
Shares outstanding
272
375
387
293
314
Cash flow statement
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-12.2
-32.5
-2,146
-246
-1,438
-289
Depreciation and amortization
9.4
33.4
225
96
113
68.9
Stock-based compensation
3.04
38.9
183
58.9
51.9
98.2
Deferred income tax
0
9.53
-18.5
0
0
0
Change in receivables
-1.3
-7.42
-7.86
-0.77
0.66
0
Change in payables
-1.77
-22
26.7
119
-12.3
10.8
Cash from operations
-23.8
-56.7
205
65.1
42.9
278
Capital expenditures
0
0
-384
-16.2
-95
-729
Cash from investing
-15.1
-424
-591
-3
-95.2
-741
Debt issued
45.2
671
261
0
0
Debt repaid
-5.27
-49.3
-113
-41
-305
-8.61
Stock issued
0
0
55
0
Share buybacks
-31.6
0
0
Cash from financing
40.7
604
306
-44.6
820
-63.1
Net change in cash
1.81
123
-79.4
17.5
767
-526
Free cash flow
-23.8
-56.7
-179
49
-52.1
-451
Interest paid
2.9
38.2
86
4.71
28.8
15.2
Income taxes paid
0
9.62
5.76
-0.37
-0.16
0.21
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $16.52 on September 28, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
28.3%
Gross profit / revenue.
Operating margin
-127.4%
Operating income / revenue.
EBITDA margin
-113.3%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-324.3%
Pre-tax income / revenue.
Net margin
-324.9%
Net income / revenue.
FCF margin
-217.5%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
118.2%
Cash from operations / revenue.
Return on assets (ROA)
-27.2%
Net income / average total assets.
Return on invested capital (ROIC)
-407.2%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue
34.5%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
21.3%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
335.7%
Capital expenditures / revenue.
D&A / revenue
14.2%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-37.5%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-20.7%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
39.5%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
-68.7%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
65.2%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
32.2%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y
548.7%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y
10.7%
Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
59.1%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
42.7%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
993.7%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
24.3%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
-2.3%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
15.1%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.89x
Current assets / current liabilities.
Quick ratio
0.65x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.65x
(Cash + short-term investments) / current liabilities.
Debt / assets
81.7%
Total debt / total assets.
Liabilities / assets
146.0%
Total liabilities / total assets.
Net debt
$2.53B
Total debt - cash - short-term investments. Negative means more cash than debt.
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$4.40
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$1.35
Revenue / diluted weighted shares.
FCF per share
-$2.94
Free cash flow / diluted weighted shares.
Operating cash flow per share
$1.60
Cash from operations / diluted weighted shares.
Book value per share
-$7.57
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
12.1x
Market cap / revenue.
P/OCF
10.2x
Market cap / cash from operations, when positive.
EV/Sales
17.8x
Enterprise value / revenue.
FCF yield
-18.0%
Free cash flow / market cap.
Earnings yield
-26.9%
Net income / market cap (the inverse of P/E).
What was Core Scientific, Inc./tx's revenue in fiscal 2025?
Core Scientific, Inc./tx reported revenue of $319.0M for fiscal 2025, 37.5% lower than the year before.
Was Core Scientific, Inc./tx profitable in fiscal 2025?
No. It reported a net loss of $288.6M.
How much free cash flow did Core Scientific, Inc./tx generate in fiscal 2025?
Cash from operations of $278.3M minus capital expenditures of $729.0M left free cash flow of -$450.8M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.