DigitalOcean vs TeraWulf
DigitalOcean reported revenue of $901 million in fiscal 2025, 5.3 times TeraWulf's $168 million in fiscal 2025. DigitalOcean's revenue grew 15.5% in its latest year, and TeraWulf's grew 20.3%. DigitalOcean had an operating margin of 17.4%, against -110.5% at TeraWulf. Free cash flow was $181 million at DigitalOcean and −$1.2 billion at TeraWulf.
Side by side
| DigitalOcean | TeraWulf | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $901M | $168M |
| Revenue growth | 15.5% | 20.3% |
| Revenue growth a year, last 5 years | 23.1% | — |
| Gross margin | 59.9% | 39.2% |
| Operating margin | 17.4% | −110.5% |
| Net margin | 28.8% | −392.6% |
| Free cash flow | $181M | −$1.2B |
| Free cash flow margin | 20.0% | −702.5% |
| Return on capital | 15.7% | — |
| Net debt to EBITDA | 4.0x | — |
| Dividends and buybacks | $82M | $33M |
| Change in diluted share count | 11.5% | 13.2% |
| Last close | $99.53 | $11.98 |
| P/E at the last close | 46.1× | — |
| Insider trades, last 12 months | sold $573.8 million | bought $440,531, sold $36.1 million |
| Piotroski F-score | 7 of 9 | 1 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
DigitalOceanTeraWulf
Operating margin
Percent of revenue
DigitalOceanTeraWulf
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
DigitalOceanTeraWulf
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the DigitalOcean and TeraWulf pages.