CORZ
Core Scientific, Inc./tx
Next earnings Aug 6, 2026 · consensus $-0.09 EPS, $145M rev
Last earnings +11.0% on 2026-05-06
$21.43
▼ -17.39%$21.43▲ +28.71%
over 1Y
L $12.51H $29.16
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-17.4%
1W-21.4%
1M-26.2%
3M+32.0%
YTD+34.0%
1Y+28.7%
Avoid
Conviction
Horizon
Medium (3–12mo)
Street · 24 analysts
Buy
Negative-equity bitcoin miner pivoting to AI colocation, hit by a restatement — and being acquired by CoreWeave; a deal-driven special situation, not a fundamentals buy.
Revenue $319M · FY2025
Core Scientific is a distressed-balance-sheet story in the middle of a strategic pivot and a takeover. The fundamentals are poor: FY2025 revenue fell 37.5% to $319M as the company shifted capital away from bitcoin self-mining toward high-density colocation, gross profit collapsed 68.7% to $37.9M, the operating loss widened to -$246M, and stockholders' equity is deeply negative at -$963M against $3.31B of liabilities (-3.44x). Adjusted EBITDA fell to $29.7M from $157.4M. Compounding the risk, the company restated prior financials for errors in accounting for PP&E demolished during the mining-to-colocation conversion, filing a 10-K/A and three 10-Q/As.
The entire bull case rests on the AI/HPC pivot and a corporate event, not on current earnings. Core has a 590 MW colocation contract with CoreWeave and intends to convert its full ~1.4 GW portfolio to high-density colocation over three years. Decisively, on July 7, 2025 it signed a merger agreement under which CoreWeave would acquire the company — meaning the $29.16 share price and 28.8x sales multiple reflect deal terms and AI optionality rather than the underlying business.
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 21, 2026, 4:50 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $544M | $640M | $502M | $511M | $319M |
| Gross profit | $239M | $8.40M | $123M | $121M | $37.9M |
| Operating income | $131M | -$2.11B | $8.96M | -$142M | -$246M |
| Net income | $47.3M | -$2.15B | -$246M | -$1.44B | -$289M |
| Diluted EPS | $0.20 | -$6.30 | -$0.65 | -$4.87 | -$0.88 |
| Net margin | 8.7% | -335.2% | -49.1% | -281.6% | -90.5% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$6.50B
EV / EBITDA—
EV / Sales20.4
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield-4.2%
FCF yield-6.6%
Quality & risk
ROIC (est.)—
Free cash flow-$451M
Total debt—
Net cash$311M
Altman Z-Score-1.39 distress
Piotroski F-Score3/8
Capital returns
Buyback yield0.0%
Dividend yield (est.)—
Shareholder yield0.0%
Shares Δ YoY+7.2%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRed flag in recent filings — agreement terminated (2026-05-06). Worth a closer look.
- 8-K Officer / director change2026-05-26
- 8-K Shareholder vote2026-05-15
- 8-K Earnings results2026-05-06
- 8-K Agreement terminated2026-05-06
- 8-K Material agreement2026-05-06
- 10-Q Quarterly report2026-05-06
- 8-K Officer / director change2026-05-05
- DEF 14A Proxy statement2026-03-31
- 10-K/A Restated periodic report2026-03-18
Recent filings
all on EDGAR ↗4Period ending 2026-06-302026-07-01open ↗4Period ending 2026-06-292026-07-01open ↗4Period ending 2026-06-222026-06-24open ↗4Period ending 2026-06-152026-06-17open ↗4Period ending 2026-06-082026-06-10open ↗4Period ending 2026-06-012026-06-03open ↗4Period ending 2026-05-262026-05-28open ↗3Period ending 2026-05-262026-05-28open ↗4Period ending 2026-05-262026-05-28open ↗SCHEDULE 13GFiling2026-05-26open ↗8-KPeriod ending 2026-05-262026-05-26open ↗4Period ending 2026-05-202026-05-22open ↗
Frequently asked
- Is Core Scientific, Inc./tx (CORZ) a buy?
- CORZ currently carries a Avoid rating with 3/5 conviction, derived from its latest SEC filings. Negative-equity bitcoin miner pivoting to AI colocation, hit by a restatement — and being acquired by CoreWeave; a deal-driven special situation, not a fundamentals buy.
- What is Core Scientific, Inc./tx's quality score?
- CORZ scores 29.81728382198698/100 (grade F) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001839341, latest 10-Q filed 2026-05-06) · EODHD · Proprietary analysis · as of 6/21/2026, 8:50:21 PM.
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