MARA Holdings, Inc. (MARA)
NASDAQ: MARA · Real-Time Price · USD
6.99
-0.21 (-2.92%)
At close: Nov 13, 2026, 4:00 PM EST
6.86
-0.13 (-1.91%)
After-hours: Nov 13, 2026, 7:59 PM EST
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 | Sep '26 Sep 30, 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 | -2,945 | -1,311 | 541.25 | 261.17 | -694.02 | -29.81 |
Depreciation & Amortization | 644.18 | 662.26 | 429.19 | 185.54 | 78.71 | 14.9 |
Other Amortization | 0.01 | 0.01 | - | - | 26.73 | - |
Loss (Gain) From Sale of Assets | - | - | - | - | -83.88 | - |
Asset Writedown & Restructuring Costs | 287.19 | 219.53 | - | - | 389.53 | - |
Loss (Gain) From Sale of Investments | -0.19 | -12.62 | -4.24 | - | - | - |
Loss (Gain) on Equity Investments | 9.92 | 4.7 | 1.51 | 0.62 | - | - |
Stock-Based Compensation | 135.69 | 172.3 | 157.64 | 32.64 | 24.6 | 160.79 |
Other Operating Activities | 1,714 | 341.13 | -1,004 | -383.42 | 258.43 | -28.56 |
Change in Accounts Receivable | 1.81 | 1.81 | -9.32 | - | - | - |
Change in Accounts Payable | -2.86 | -2.86 | 13.2 | -0.59 | 13.37 | 12.38 |
Change in Other Net Operating Assets | -712.23 | -877.51 | -802.51 | -411.62 | -189.93 | -148.66 |
Operating Cash Flow | -867.49 | -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 | Sep '26 Sep 30, 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 | -317.05 | -560.31 | -1,068 | -186.55 | -524.95 | -708.92 |
Sale of Property, Plant & Equipment | 14.65 | 3.65 | 3.51 | - | 178.37 | - |
Cash Acquisitions | -61.11 | -36.37 | -335.63 | - | - | - |
Sale (Purchase) of Intangibles | -0.8 | - | -2.63 | - | - | - |
Investment in Securities | -30.16 | -37.01 | -31.61 | -71.8 | -44.5 | -3 |
Other Investing Activities | 1,879 | -39.89 | -1,795 | 262.94 | 0.85 | -149.22 |
Investing Cash Flow | 1,484 | -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 | Sep '26 Sep 30, 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 | - | - | - | - | 120 | - |
Long-Term Debt Issued | - | 1,164 | 2,379 | - | 49.25 | 805.91 |
Total Debt Issued | 749.21 | 1,164 | 2,379 | - | 169.25 | 805.91 |
Long-Term Debt Repaid | - | -18.45 | -247.51 | -50 | -120 | -77.5 |
Total Debt Repaid | -1,263 | -18.45 | -247.51 | -50 | -120 | -77.5 |
Net Debt Issued (Repaid) | -513.73 | 1,146 | 2,131 | -50 | 49.25 | 728.41 |
Issuance of Common Stock | 42.92 | 568.56 | 1,852 | 608.37 | 361.49 | 313.64 |
Repurchase of Common Stock | -32.56 | -46.92 | -37.4 | -0.38 | -0.08 | -4.71 |
Other Financing Activities | 12.81 | -39.21 | 7.15 | - | - | - |
Financing Cash Flow | -490.56 | 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 | Sep '26 Sep 30, 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 | -5.86 | - | - | - | - | - |
Net Cash Flow | 120.15 | 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 | Sep '26 Sep 30, 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 | -1,185 | -1,363 | -1,745 | -502.2 | -701.43 | -727.88 |
Free Cash Flow Growth | - | - | - | - | - | - |
Free Cash Flow Margin | -165.43% | -150.26% | -265.88% | -129.60% | -595.68% | -457.32% |
Free Cash Flow Per Share | -3.13 | -3.84 | -5.60 | -2.61 | -6.18 | -7.33 |
Levered Free Cash Flow | -1,040 | -401.11 | 379.38 | -327.57 | -380.89 | -796.74 |
Unlevered Free Cash Flow | -1,013 | -370.87 | 387.5 | -321.1 | -375.47 | -795.76 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 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 |
Cash Interest Paid | 58.67 | 32.31 | 0.68 | 7.39 | 11.43 | - |
Cash Income Tax Paid | 3.26 | 2.02 | 1.15 | 0.72 | 0.01 | - |
Change in Working Capital | -713.27 | -878.55 | -798.63 | -412.21 | -176.56 | -136.28 |