MARA Holdings, Inc. (MARA)
NASDAQ: MARA · Real-Time Price · USD
11.82
+1.77 (17.61%)
At close: Jul 30, 2026, 4:00 PM EDT
11.90
+0.08 (0.68%)
Pre-market: Jul 31, 2026, 8:06 AM EDT
MARA Holdings Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | -2,041 | -1,312 | 541.01 | 261.17 | -694.02 | -29.81 |
Depreciation & Amortization | 964.17 | 772.77 | 429.19 | 185.54 | 101.49 | 14.9 |
Stock-Based Compensation | 153.69 | 172.3 | 157.64 | 32.64 | 24.6 | 160.79 |
Other Adjustments | 1,544 | 442.65 | -1,006 | -382.8 | 568.02 | -28.56 |
Change in Receivables | - | 1.81 | -9.32 | - | - | - |
Changes in Accounts Payable | - | -2.86 | 13.2 | -0.59 | 13.37 | 12.38 |
Changes in Accrued Expenses | - | - | - | - | - | 0.87 |
Changes in Other Operating Activities | -652.52 | -877.51 | -802.51 | -411.62 | -189.93 | -149.53 |
Operating Cash Flow | -834.73 | -802.73 | -677.02 | -315.65 | -176.48 | -18.96 |
Operating Cash Flow Growth | - | - | - | - | - | - |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -504.18 | -560.31 | -1,068 | -186.55 | -524.95 | -708.92 |
Sale of Property, Plant & Equipment | 0.79 | 3.65 | 3.51 | - | 178.37 | - |
Purchases of Intangible Assets | -0.54 | - | -2.63 | - | - | - |
Purchases of Investments | -459.02 | -510.74 | -1,978 | -71.8 | -44 | -153 |
Proceeds from Sale of Investments | 1,890 | 433.85 | 152.29 | 264.95 | 0.85 | 0.78 |
Cash Acquisitions | -196.8 | -36.37 | -335.63 | - | - | - |
Other Investing Activities | - | - | - | -2 | -0.5 | -30 |
Investing Cash Flow | -285.65 | -669.92 | -3,229 | 4.6 | -390.23 | -891.14 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Short-Term Debt Issued | 150 | 150 | 200 | - | 120 | 77.5 |
Short-Term Debt Repaid | -350 | - | - | - | - | -77.5 |
Net Short-Term Debt Issued (Repaid) | -200 | 150 | 200 | - | 120 | 0 |
Long-Term Debt Issued | - | 1,014 | 2,179 | - | 49.25 | 728.41 |
Long-Term Debt Repaid | - | -18.28 | -247.35 | -50 | -120 | - |
Net Long-Term Debt Issued (Repaid) | - | 995.74 | 1,931 | -50 | -70.75 | 728.41 |
Issuance of Common Stock | 468.42 | 568.56 | 1,852 | 608.37 | 361.49 | 313.64 |
Repurchase of Common Stock | -34.01 | -46.92 | -37.4 | -0.38 | -0.08 | -4.71 |
Net Common Stock Issued (Repurchased) | 434.41 | 521.64 | 1,814 | 607.99 | 361.41 | 308.93 |
Issuance of Preferred Stock | - | - | - | 13.63 | - | - |
Repurchase of Preferred Stock | - | - | - | -15.75 | - | - |
Net Preferred Stock Issued (Repurchased) | - | - | - | -2.12 | - | - |
Other Financing Activities | 11.8 | -39.38 | 6.99 | - | - | - |
Financing Cash Flow | 289.93 | 1,628 | 3,953 | 555.86 | 410.66 | 1,037 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | -3.64 | - | - | - | - | - |
Net Cash Flow | 181.78 | 155.36 | 46.46 | 244.81 | -156.05 | 127.23 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | -1,339 | -1,363 | -1,745 | -502.2 | -701.43 | -727.88 |
Free Cash Flow Growth | - | - | - | - | - | - |
FCF Margin | -154.28% | -150.26% | -265.88% | -129.60% | -595.68% | -457.32% |
Free Cash Flow Per Share | -3.21 | -3.84 | -5.60 | -2.61 | -6.18 | -7.33 |
Levered Free Cash Flow | -2,430 | -2,145 | 1,786 | 57.01 | -1,939 | -131.7 |
Unlevered Free Cash Flow | -1,965 | -1,842 | -1,160 | -205.38 | -1,251 | -848.68 |