CleanSpark, Inc.

NasdaqCM:CLSK Stock Report

Market Cap: US$2.5b

CleanSpark Valuation

Is CLSK undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of CLSK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: CLSK ($9.85) is trading above our estimate of future cash flow value ($0.41)

Significantly Below Future Cash Flow Value: CLSK is trading above our estimate of future cash flow value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CLSK?

Key metric: As CLSK is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for CLSK. This is calculated by dividing CLSK's market cap by their current revenue.
What is CLSK's PS Ratio?
PS Ratio3.2x
SalesUS$785.19m
Market CapUS$2.52b

Price to Sales Ratio vs Peers

How does CLSK's PS Ratio compare to its peers?

The above table shows the PS ratio for CLSK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average24.1x
MARA MARA Holdings
3.3x9.33%US$3.0b
SOUN SoundHound AI
21.1x29.20%US$3.1b
WULF TeraWulf
40.6x39.39%US$6.8b
CIFR Cipher Mining
31.4x34.09%US$6.5b
CLSK CleanSpark
3.2x6.83%US$2.5b

Price-To-Sales vs Peers: CLSK is good value based on its Price-To-Sales Ratio (3.2x) compared to the peer average (24.1x).

Historical Price to Sales Ratio

Historical Price to Sales Ratio compares a stock's price to its sales over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Sales Ratio vs Industry

How does CLSK's PS Ratio compare vs other companies in the US Software Industry?

73 CompaniesPrice / SalesEstimated GrowthMarket Cap
VYX NCR Voyix
0.5x-11.78%US$1.31b
PGY Pagaya Technologies
0.8x12.08%US$999.32m
DSP Viant Technology
0.5x13.26%US$596.87m
RPD Rapid7
0.5x-0.85%US$470.15m
CLSK 3.2xIndustry Avg. 3.6xNo. of Companies73PS03.67.210.814.418+
73 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: CLSK is good value based on its Price-To-Sales Ratio (3.2x) compared to the US Software industry average (3.6x).

Price to Sales Ratio vs Fair Ratio

What is CLSK's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CLSK PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio3.2x
Fair PS Ratio3.1x

Price-To-Sales vs Fair Ratio: CLSK is expensive based on its Price-To-Sales Ratio (3.2x) compared to the estimated Fair Price-To-Sales Ratio (3.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CLSK forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$9.85
US$19.20
+94.89%
18.16%US$26.00US$14.00n/a13
Feb ’27US$11.84
US$23.08
+94.91%
17.39%US$30.00US$14.00n/a13
Jan ’27US$10.12
US$23.27
+129.97%
18.44%US$30.00US$14.00n/a11
Dec ’26US$14.08
US$23.16
+64.48%
18.80%US$30.00US$14.00n/a11
Nov ’26US$17.80
US$23.70
+33.17%
21.03%US$30.00US$14.00n/a11
Oct ’26US$14.59
US$20.07
+37.55%
13.95%US$25.00US$14.00n/a11
Sep ’26US$9.47
US$20.43
+115.75%
14.78%US$26.00US$15.00n/a11
Aug ’26US$10.44
US$19.80
+89.61%
16.67%US$25.00US$15.00n/a11
Jul ’26US$11.08
US$19.10
+72.38%
16.42%US$25.00US$14.00n/a10
Jun ’26US$8.63
US$19.00
+120.16%
18.36%US$25.00US$12.00n/a9
May ’26US$8.67
US$18.88
+117.70%
19.54%US$25.00US$12.00n/a8
Apr ’26US$7.56
US$19.25
+154.63%
21.06%US$27.00US$12.00n/a8
Mar ’26US$7.99
US$22.75
+184.73%
17.55%US$30.00US$17.00n/a8
Feb ’26US$10.44
US$23.43
+124.41%
17.80%US$30.00US$17.00US$11.847
Jan ’26US$9.21
US$23.83
+158.78%
17.03%US$30.00US$17.00US$10.126
Dec ’25US$14.35
US$22.08
+53.89%
27.80%US$30.00US$10.50US$14.086
Nov ’25US$10.33
US$22.08
+113.88%
27.80%US$30.00US$10.50US$17.806
Oct ’25US$8.61
US$22.08
+156.48%
27.80%US$30.00US$10.50US$14.596
Sep ’25US$10.69
US$23.08
+115.93%
26.89%US$30.00US$10.50US$9.476
Aug ’25US$15.09
US$24.25
+60.70%
23.86%US$30.00US$12.50US$10.446
Jul ’25US$17.92
US$24.08
+34.39%
23.62%US$30.00US$12.50US$11.086
Jun ’25US$16.07
US$23.33
+45.20%
21.24%US$30.00US$15.00US$8.636
May ’25US$15.65
US$23.33
+49.09%
21.24%US$30.00US$15.00US$8.676
Apr ’25US$18.58
US$23.17
+24.69%
22.62%US$30.00US$14.00US$7.566
Mar ’25US$17.86
US$15.03
-15.83%
36.80%US$27.00US$10.00US$7.996
Feb ’25US$8.36
US$11.87
+41.95%
18.76%US$14.20US$8.00US$10.446
US$19.2
Fair Value
48.7% undervalued intrinsic discount
13
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/02/15 03:08
End of Day Share Price 2026/02/13 00:00
Earnings2025/12/31
Annual Earnings2025/09/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

CleanSpark, Inc. is covered by 15 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Gautam ChhuganiBernstein
Nicholas GilesB. Riley Securities, Inc.
Gregory LewisBTIG