MARA Holdings, Inc. (MARA)

MARA Holdings Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	-2,041	-1,312	541.01	261.17	-694.02	-29.81
Depreciation & Amortization	806.43	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	982.19	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
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
Payments for Business Acquisitions	-196.8	-36.37	-335.63	-	-	-
Other Investing Activities	-	-	-	-2	-0.5	-30
Investing Cash Flow	688.87	-669.92	-3,229	4.6	-390.23	-891.14
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	-0.79	1,014	2,179	-	49.25	728.41
Long-Term Debt Repaid	-912.77	-18.28	-247.35	-50	-120	-
Net Long-Term Debt Issued (Repaid)	-913.56	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	11.85	-39.38	6.99	-	-	-
Financing Cash Flow	289.93	1,628	3,953	555.86	410.66	1,037
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-3.64	-	-	-	-	-
Net Cash Flow	181.78	155.36	46.46	244.81	-156.05	127.23
Free Cash Flow	-1,339	-1,363	-1,745	-502.2	-701.43	-727.88
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	-3,502	-833.64	1,244	-204.17	-1,245	-131.7
Unlevered Free Cash Flow	-2,123	-1,842	-1,160	-205.38	-1,251	-848.68

Updated May 11, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q