BTDR Technology

Bitdeer Technologies Group

$6.92+12.16%

Price as of close on Nov 3, 2026 · Financials updated Nov 2, 2026

Basics

Sector: Technology
Industry: Software - Application
Country: Singapore
Market cap: 1.9B USD
Enterprise value: 4.0B USD
Full-time employees: 471

Overall health

Strength: more profitable than most peersmore profitable than peers
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 2.72 vs a peer median of 0.87), less short-term liquidity (current ratio 0.91 vs a peer median of 1.83) and more debt relative to equity (0.55× vs a peer median of 0.25×)higher risk: bigger price swings (beta 2.72 vs peers 0.87), less liquidity (current ratio 0.91 vs peers 1.83) and more debt vs equity (0.55× vs peers 0.25×)

Ranks #372 of 1,612 technology companies (top 24%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.
Bitdeer Technologies reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.
Earnings turned from a loss to a profit. Profit per share this year after a loss last year.
Bitdeer Technologies made a profit per share in its latest year after a loss the year before.
Investment surge. Capital spending 37% of revenue, up from 19% in 2022.
Bitdeer Technologies is spending 37% of revenue on facilities and equipment, up from 19% in 2022. That weighs on free cash flow today; whether it pays off depends on the returns those investments earn.
Valuation signals disagree. Cheaper than 92% of peers on operating cash profit (EBITDA), but only 0% on free cash flow.Cheaper than 92% of peers on operating cash profit, but only 0% on free cash flow.
Relative to its operating cash profit (EBITDA), Bitdeer Technologies looks cheaper than 92% of peers; relative to its free cash flow, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.Relative to its operating cash profit, Bitdeer Technologies looks cheaper than 92% of peers; relative to its free cash flow, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

StockQuotient Score

64/ 100

Oct 5 62 → Nov 4 64 (+2)

Valuation

Is the price right?

77/100

Moderate▲ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 76 → 77

Share price -8.2%+3
Peer companies moved-2

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Stronger than most peers on:

▲ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield2.0%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value30% base weight · Z-score -0.11Sector median: 0.0225 · MAD: 0.0225

EBITDA yield14.9%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score 2.96Sector median: 0.0423 · MAD: 0.0361

Free cash flow yield-111.4%

Yahoo Finance fallback · SEC cash flow or share count unavailable · trailing 12 months · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.00Sector median: 0.0274 · MAD: 0.0274

Other data (not scored)

Book yield26.6%

SEC filings (IFRS mapped) · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3292 · MAD: 0.1754

Growth

Is it growing?

97/100

Strong

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 73.9%

Why

Stronger than most peers on:

▲ Revenue growth
▲ 3-yr revenue
▲ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Earnings per share turned from a loss to a profit33% base weight · Z-score 3.96Sector median: 0.1108 · MAD: 0.3050

3-year revenue growth23.0%

SEC filings (IFRS mapped) · 3 years to Dec 2025Reported value33% base weight · Z-score 2.29Sector median: 0.0483 · MAD: 0.0793

Revenue growth77.3%

SEC filings (IFRS mapped) · 12 months to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score 4.89Sector median: 0.0853 · MAD: 0.1017

Profitability

Does it earn well?

72/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

Turned profitable over the last 12 months
Operating margin rose 107.7 points to 25.8%

Why

Stronger than most peers on:

▲ Operating margin
▲ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin25.8%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 2.74Sector median: 0.0631 · MAD: 0.0710

Return on assets2.3%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score -0.16Sector median: 0.0293 · MAD: 0.0362

Return on invested capital10.5%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 0.44Sector median: 0.0676 · MAD: 0.0857

Other data (not scored)

Gross margin9.8%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.3343 · MAD: 0.1632

Return on equity7.6%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.0753 · MAD: 0.0889

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: Changed: worth a look

Debt up 33%

Why

Weaker than most peers on:

▼ Beta
▼ Current ratio
▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta2.72

Yahoo Finance · 5-year monthly beta vs the marketOutlier capped at sector 5th/95th percentile33% base weight · Z-score -3.51Sector median: 0.8710 · MAD: 0.3700

Current ratio0.91×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score -1.34Sector median: 1.8295 · MAD: 0.6848

Debt / equity0.55×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score -1.33Sector median: 0.2495 · MAD: 0.2270

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Bitdeer Technologies

Is Bitdeer Technologies getting weaker?: Its latest SEC filing (Apr 30, 2026) got stronger: turned profitable over the last 12 months; operating margin rose 107.7 points to 25.8%. Its overall score is unchanged at 64/100 since Oct 28, 2026.
How is Bitdeer Technologies valued vs its peers?: Priced lower than most peers relative to what it earns. Valuation scores 77/100 against 1,711 technology peers. EBITDA yield 14.9% vs a peer median of 4.2% (stronger than 92% of peers).EBITDA yield 14.9% vs peers 4.2% (stronger than 92% of peers). Free cash flow yield -111.4% vs a peer median of 2.7% (weaker than 100% of peers).Free cash flow yield -111.4% vs peers 2.7% (weaker than 100% of peers).
Is Bitdeer Technologies growing?: Yes, faster than most of its peers. Growth scores 97/100 against 1,711 technology peers. Revenue growth 77.3% vs a peer median of 8.5% (stronger than 95% of peers).Revenue growth 77.3% vs peers 8.5% (stronger than 95% of peers).
How profitable is Bitdeer Technologies?: More profitable than most of its peers. Profitability scores 72/100 against 1,711 technology peers. Operating margin 25.8% vs a peer median of 6.3% (stronger than 92% of peers).Operating margin 25.8% vs peers 6.3% (stronger than 92% of peers).
How risky is Bitdeer Technologies?: Higher risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Beta 2.72 vs a peer median of 0.87 (weaker than 100% of peers).Beta 2.72 vs peers 0.87 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Dec 31, 2025 · filed Apr 30, 2026 · compared with the quarter ended Jun 30, 2025

Got stronger

Turned profitable over the last 12 months
Operating margin rose 107.7 points to 25.8%
Debt up 33%

	Previous quarter	Latest quarter	Change
Revenue (12 months)	356.8M USD	620.3M USD	+73.9%
Net income (12 months)	−320.3M USD	65.6M USD	turned positive
Operating margin	-82.0%	25.8%	+107.7 pts
Debt	360.2M USD	479.3M USD	+33.1%
Cash	299.8M USD	149.4M USD	−50.2%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	61.2%	25.0%	21.1%	19.0%	9.8%	▼ 9.1 pts
Operating margin	33.1%	-18.2%	-14.2%	-168.6%	25.8%	▲ 194 pts
Net margin	20.9%	-18.1%	-15.4%	-171.3%	10.6%	▲ 182 pts
Return on assets (ROA)	12.8%	-9.3%	-8.9%	-38.5%	2.3%	▲ 41 pts
Return on equity (ROE)	28.7%	-19.0%	-17.0%	-216.6%	7.6%	▲ 224 pts
Current ratio	—	—	2.15×	0.86×	0.91×	▲ 5.7%
Quick ratio	—	—	2.15×	0.80×	0.75×	▼ 7.2%
Debt to equity	0.10×	0.09×	0.07×	0.75×	0.55×	▼ 27%
Interest coverage	—	—	-20.06×	-169.78×	42.31×	▲ 125%

BTDR price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: more profitable than most peersmore profitable than peers

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 2.72 vs a peer median of 0.87), less short-term liquidity (current ratio 0.91 vs a peer median of 1.83) and more debt relative to equity (0.55× vs a peer median of 0.25×)higher risk: bigger price swings (beta 2.72 vs peers 0.87), less liquidity (current ratio 0.91 vs peers 1.83) and more debt vs equity (0.55× vs peers 0.25×)

Ranks #372 of 1,612 technology companies (top 24%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.

Bitdeer Technologies reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.

Earnings turned from a loss to a profit. Profit per share this year after a loss last year.

Bitdeer Technologies made a profit per share in its latest year after a loss the year before.

Investment surge. Capital spending 37% of revenue, up from 19% in 2022.

Bitdeer Technologies is spending 37% of revenue on facilities and equipment, up from 19% in 2022. That weighs on free cash flow today; whether it pays off depends on the returns those investments earn.

Valuation signals disagree. Cheaper than 92% of peers on operating cash profit (EBITDA), but only 0% on free cash flow.Cheaper than 92% of peers on operating cash profit, but only 0% on free cash flow.

Relative to its operating cash profit (EBITDA), Bitdeer Technologies looks cheaper than 92% of peers; relative to its free cash flow, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.Relative to its operating cash profit, Bitdeer Technologies looks cheaper than 92% of peers; relative to its free cash flow, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

Questions investors ask about Bitdeer Technologies

Is Bitdeer Technologies getting weaker?

Its latest SEC filing (Apr 30, 2026) got stronger: turned profitable over the last 12 months; operating margin rose 107.7 points to 25.8%. Its overall score is unchanged at 64/100 since Oct 28, 2026.

How is Bitdeer Technologies valued vs its peers?

Priced lower than most peers relative to what it earns. Valuation scores 77/100 against 1,711 technology peers. EBITDA yield 14.9% vs a peer median of 4.2% (stronger than 92% of peers).EBITDA yield 14.9% vs peers 4.2% (stronger than 92% of peers). Free cash flow yield -111.4% vs a peer median of 2.7% (weaker than 100% of peers).Free cash flow yield -111.4% vs peers 2.7% (weaker than 100% of peers).

Is Bitdeer Technologies growing?

Yes, faster than most of its peers. Growth scores 97/100 against 1,711 technology peers. Revenue growth 77.3% vs a peer median of 8.5% (stronger than 95% of peers).Revenue growth 77.3% vs peers 8.5% (stronger than 95% of peers).

How profitable is Bitdeer Technologies?

More profitable than most of its peers. Profitability scores 72/100 against 1,711 technology peers. Operating margin 25.8% vs a peer median of 6.3% (stronger than 92% of peers).Operating margin 25.8% vs peers 6.3% (stronger than 92% of peers).

How risky is Bitdeer Technologies?

Higher risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Beta 2.72 vs a peer median of 0.87 (weaker than 100% of peers).Beta 2.72 vs peers 0.87 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

356.8M USD

620.3M USD

+73.9%

Net income (12 months)

−320.3M USD

65.6M USD

turned positive

Operating margin

-82.0%

25.8%

+107.7 pts

Debt

360.2M USD

479.3M USD

+33.1%

Cash

299.8M USD

149.4M USD

−50.2%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

61.2%

25.0%

21.1%

19.0%

9.8%

▼ 9.1 pts

Operating margin

33.1%

-18.2%

-14.2%

-168.6%

25.8%

▲ 194 pts

Net margin

20.9%

-18.1%

-15.4%

-171.3%

10.6%

▲ 182 pts

Return on assets (ROA)

12.8%

-9.3%

-8.9%

-38.5%

2.3%

▲ 41 pts

Return on equity (ROE)

28.7%

-19.0%

-17.0%

-216.6%

7.6%

▲ 224 pts

Current ratio

—

2.15×

0.86×

0.91×

▲ 5.7%

Quick ratio

—

2.15×

0.80×

0.75×

▼ 7.2%

Debt to equity

0.10×

0.09×

0.07×

0.75×

0.55×

▼ 27%

Interest coverage

—

-20.06×

-169.78×

42.31×

▲ 125%