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Grayscale Bitcoin Trust (BTC)
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I guess you are interested in Grayscale Bitcoin Trust (BTC). Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

Let's analyse Grayscale

Let's start. I'm going to help you getting a better view of Grayscale Bitcoin Trust (BTC). At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

  1. Company's Financial Health
    A deep dive into the books. How are the numbers doing? Is Grayscale Bitcoin Trust (BTC) even making a profit? Is the company skyrocketing? Or is it sinking like the Titanic. The trend is your friend.
  2. Market Valuation
    Finally, you now have an insight of how Grayscale Bitcoin Trust (BTC) is doing in the market. If the company is worth buying. The latest step is to find out how other investors value Grayscale Bitcoin Trust (BTC). The closing price on 2022-09-30 was $11.41 per share. Is the company over- or underpriced?
  3. Key Performance Indicators
    A total overlook on how the company is doing. Based on the (trends in) the key performance indicators.
Grayscale Bitcoin Trust (BTC) Daily Candlestick Chart


Summary

Financial Health

Profitability Details
 Compared to previous yearCompared to industry
Using its assets, the company is very inefficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
Liquidity Details
 Compared to previous yearCompared to industry
Solvency Details
 Compared to previous yearCompared to industry
The company is very able to pay all its debts by selling its assets.

1.1. Profitability of Grayscale Bitcoin Trust (BTC).

1.1. Profitability

An important factor of a company's health is the profitability.

1.1.1. Net Profit Margin

Measures how much net profit Grayscale earns for each $1 of revenue.

  • Above 10% is considered healthy but always compare Grayscale to the Capital Markets industry mean.
  • A Net Profit Margin of 0.0% means that $0.00 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Grayscale Bitcoin Trust (BTC):

  • The MRQ is 0.0%. The data is not here.
Trends
Current periodCompared to+/- 
MRQ-TTM-0.0%
TTM-YOY-0.0%
TTM-5Y-0.0%
5Y-10Y-0.0%
Compared to industry (Capital Markets)
PeriodCompanyIndustry (mean)+/- 
MRQ-4.1%-4.1%
TTM-31.0%-31.0%
YOY-36.3%-36.3%
5Y-28.0%-28.0%
10Y-29.9%-29.9%
1.1.2. Return on Assets

Shows how efficient Grayscale is using its assets to generate profit.

  • Above 5% is considered healthy but always compare Grayscale to the Capital Markets industry mean.
  • -29.8% Return on Assets means that Grayscale generated $-0.30 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Grayscale Bitcoin Trust (BTC):

  • The MRQ is -142.5%. Using its assets, the company is very inefficient in making profit. -2
  • The TTM is -29.8%. Using its assets, the company is very inefficient in making profit. -2
Trends
Current periodCompared to+/- 
MRQ-142.5%TTM-29.8%-112.7%
TTM-29.8%YOY-10.3%-19.5%
TTM-29.8%5Y-23.3%-6.5%
5Y-23.3%10Y-6.6%-16.7%
Compared to industry (Capital Markets)
PeriodCompanyIndustry (mean)+/- 
MRQ-142.5%0.4%-142.9%
TTM-29.8%0.8%-30.6%
YOY-10.3%0.6%-10.9%
5Y-23.3%0.5%-23.8%
10Y-6.6%0.5%-7.1%
1.1.3. Return on Equity

Shows how efficient Grayscale is using its investors money to generate profit.

  • Above 15%-20% is considered healthy but always compare Grayscale to the Capital Markets industry mean.
  • 0.0% Return on Equity means the company generated $0.00 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Grayscale Bitcoin Trust (BTC):

  • The MRQ is 0.0%. The data is not here.
Trends
Current periodCompared to+/- 
MRQ-TTM-0.0%
TTM-YOY-0.0%
TTM-5Y-0.0%
5Y-10Y6.1%-6.1%
Compared to industry (Capital Markets)
PeriodCompanyIndustry (mean)+/- 
MRQ-0.4%-0.4%
TTM-0.9%-0.9%
YOY-0.2%-0.2%
5Y--0.0%
10Y6.1%0.2%+5.9%

1.2. Operating Efficiency of Grayscale Bitcoin Trust (BTC).

1.2. Operating Efficiency
1.2.1. Operating Margin

Measures how efficient Grayscale is operating .

  • Measures how much profit Grayscale makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
  • Above 15% is considered healthy but always compare Grayscale to the Capital Markets industry mean.
  • An Operating Margin of 0.0% means the company generated $0.00  for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Grayscale Bitcoin Trust (BTC):

  • The MRQ is 0.0%. The data is not here.
Trends
Current periodCompared to+/- 
MRQ-TTM-0.0%
TTM-YOY-0.0%
TTM-5Y-0.0%
5Y-10Y-0.0%
Compared to industry (Capital Markets)
PeriodCompanyIndustry (mean)+/- 
MRQ--14.5%+14.5%
TTM-9.0%-9.0%
YOY-8.5%-8.5%
5Y-5.9%-5.9%
10Y-2.6%-2.6%
1.2.2. Operating Ratio

Measures how efficient Grayscale is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Capital Markets industry mean).
  • An Operation Ratio of 0.0% means that the operating costs are $0.00for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Grayscale Bitcoin Trust (BTC):

  • The MRQ is 0.000. The data is not here.
Trends
Current periodCompared to+/- 
MRQ-TTM-0.000
TTM-YOY-0.000
TTM-5Y-0.000
5Y-10Y-0.000
Compared to industry (Capital Markets)
PeriodCompanyIndustry (mean)+/- 
MRQ-1.363-1.363
TTM-0.744-0.744
YOY-0.706-0.706
5Y-0.798-0.798
10Y-0.735-0.735

1.3. Liquidity of Grayscale Bitcoin Trust (BTC).

1.3. Liquidity
1.3.1. Current Ratio

Measures if Grayscale is able to pay off Short-term Debt.

  • Above 1.5 is considered healthy (always compare to Capital Markets industry mean).
  • A Current Ratio of 0.0% means the company has $0.00 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Grayscale Bitcoin Trust (BTC):

  • The MRQ is 0.000. The data is not here.
Trends
Current periodCompared to+/- 
MRQ-TTM-0.000
TTM-YOY-0.000
TTM-5Y-0.000
5Y-10Y-0.000
Compared to industry (Capital Markets)
PeriodCompanyIndustry (mean)+/- 
MRQ-1.056-1.056
TTM-1.360-1.360
YOY-4.391-4.391
5Y-2.226-2.226
10Y-2.136-2.136
1.3.2. Quick Ratio

Measures if Grayscale is able to pay off Short-term Debt but only using the most liquid assets.

  • Above 1 is considered healthy (always compare to Capital Markets industry mean)
  • A Quick Ratio of 0.0% means the company can pay off $0.00 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Grayscale Bitcoin Trust (BTC):

  • The MRQ is 0.000. The data is not here.
Trends
Current periodCompared to+/- 
MRQ-TTM-0.000
TTM-YOY-0.000
TTM-5Y-0.000
5Y-10Y-0.000
Compared to industry (Capital Markets)
PeriodCompanyIndustry (mean)+/- 
MRQ-0.362-0.362
TTM-1.448-1.448
YOY-7.293-7.293
5Y-4.116-4.116
10Y-4.050-4.050

1.4. Solvency of Grayscale Bitcoin Trust (BTC).

1.3. Liquidity
1.4.1. Debt to Asset Ratio

Measures how much % of Grayscale assets are financed with debt.

  • Below 1 (100%) is considered healthy (always compare to Capital Markets industry mean).
  • A Debt to Asset Ratio of 0.00 means that Grayscale assets are financed with 0.0% credit (debt) and the remaining percentage (100% - 0.0%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of Grayscale Bitcoin Trust (BTC):

  • The MRQ is 0.000. The company is very able to pay all its debts by selling its assets. +2
  • The TTM is 0.000. The company is very able to pay all its debts by selling its assets. +2
Trends
Current periodCompared to+/- 
MRQ0.000TTM0.000+0.000
TTM0.000YOY0.000+0.000
TTM0.0005Y0.000+0.000
5Y0.00010Y0.0000.000
Compared to industry (Capital Markets)
PeriodCompanyIndustry (mean)+/- 
MRQ0.0000.221-0.221
TTM0.0000.226-0.226
YOY0.0000.340-0.340
5Y0.0000.305-0.305
10Y0.0000.303-0.303
1.4.2. Debt to Equity Ratio

Measures if Grayscale is able to pay off its debts by using shareholders equity.

  • Below 2 is considered healthy (always compare to Capital Markets industry mean).
  • A Debt to Equity ratio of 0.0% means that company has $0.00 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Grayscale Bitcoin Trust (BTC):

  • The MRQ is 0.000. The data is not here.
Trends
Current periodCompared to+/- 
MRQ-TTM-0.000
TTM-YOY-0.000
TTM-5Y-0.000
5Y-10Y0.0000.000
Compared to industry (Capital Markets)
PeriodCompanyIndustry (mean)+/- 
MRQ-0.693-0.693
TTM-0.293-0.293
YOY-1.584-1.584
5Y-1.006-1.006
10Y0.0001.006-1.006

2. Market Valuation of Grayscale Bitcoin Trust (BTC)

2. Earnings
2.1. Price to Earnings Ratio

Measures how many years it takes to double your invested money in Grayscale.

  • Above 15 is considered overpriced but is hard to determine (always use industry average).
  • A PE ratio of 0.00 means the investor is paying $0.00 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Grayscale Bitcoin Trust (BTC):

  • The MRQ is 0.000. The data is not here.
Trends
Current periodCompared to+/- 
MRQ-TTM-0.000
TTM-YOY-0.000
TTM-5Y-0.000
5Y-10Y-0.000
Compared to industry (Capital Markets)
PeriodCompanyIndustry (mean)+/- 
MRQ-0.898-0.898
TTM-1.730-1.730
YOY-0.780-0.780
5Y-3.241-3.241
10Y-3.241-3.241

2. Books
2.3. Price to Book Ratio

Measures if the stock price of Grayscale is to cheap or to expensive compared to its book value.

  • At or below 1 is considered healthy (always compare to Capital Markets industry mean).
  • A PB ratio of 0.00 means the investor is paying $0.00 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Grayscale Bitcoin Trust (BTC):

  • The MRQ is 0.000. The data is not here.
Trends
Current periodCompared to+/- 
MRQ-TTM-0.000
TTM-YOY-0.000
TTM-5Y-0.000
5Y-10Y-0.000
Compared to industry (Capital Markets)
PeriodCompanyIndustry (mean)+/- 
MRQ-0.641-0.641
TTM-0.708-0.708
YOY-0.592-0.592
5Y-1.081-1.081
10Y-0.962-0.962

2.4. Latest News of Grayscale Bitcoin Trust (BTC)

Does Grayscale Bitcoin Trust (BTC) still have the same value as the quarterly reports suggest? Recent changes may be an indication that the value of the company is changing. Read the news from Grayscale Bitcoin Trust (BTC) to keep up to date. Note: the news is often already included in the price.

DateTitleRead
2022-09-16
15:15
Grayscale Investments® Declares Distribution of Rights to Ethereum Proof of Work TokensRead

3. Summary

3.1. Key Performance Indicators

The key performance indicators of Grayscale Bitcoin Trust (BTC) compared to the Most Recent Quarter (MRQ).

 End of day+/-Most Recent QuarterTrailing 12 Months+/-Year-Over-Year+/-5 Year+/-10 Year+/-
Book Value Per Share----0%-0%-0%-0%
Current Ratio----0%-0%-0%-0%
Debt To Asset Ratio--0.0000.000+78%0.000+136%0.000+94%0.000-96%
Debt To Equity Ratio----0%-0%-0%0.000-100%
Eps----0%-0%-0%-0%
Gross Profit Margin--1.0001.0000%1.0000%1.0000%1.0000%
Net Profit Margin----0%-0%-0%-0%
Operating Margin----0%-0%-0%-0%
Operating Ratio----0%-0%-0%-0%
Pb Ratio----0%-0%-0%-0%
Pe Ratio----0%-0%-0%-0%
Price Per Share11.410-6%12.06027.675-56%39.925-70%31.758-62%62.933-81%
Quick Ratio----0%-0%-0%-0%
Return On Assets---1.425-0.298-79%-0.103-93%-0.233-84%-0.066-95%
Return On Equity----0%-0%-0%0.061-100%
 EOD+1 -0MRQTTM+1 -2YOY+1 -25Y+1 -210Y+3 -2

3.2. Fundamental Score

Let's check the fundamental score of Grayscale Bitcoin Trust (BTC) based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Net Profit Margin (MRQ)Greater than00.000
Operating Margin (MRQ)Greater than00.000
Quick Ratio (MRQ)Greater than10.000
Current Ratio (MRQ)Greater than10.000
Debt to Asset Ratio (MRQ)Less than10.000
Debt to Equity Ratio (MRQ)Less than10.000
Return on Equity (MRQ)Greater than0.150.000
Return on Assets (MRQ)Greater than0.05-1.425
Total2/8 (25.0%)

3.3. Technical Score

Let's check the technical score of Grayscale Bitcoin Trust (BTC) based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5040.383
Ma 20Greater thanMa 5012.030
Ma 50Greater thanMa 10013.193
Ma 100Greater thanMa 20014.686
OpenGreater thanClose11.260
Total0/5 (0.0%)



Latest Balance Sheet

Balance Sheet of 2022-06-30. Currency in USD. All numbers in thousands.

Summary
Total Assets12,063,449
Total Liabilities-
Total Stockholder Equity-7,513,961
 As reported
Total Liabilities -
Total Stockholder Equity+ -7,513,961
Total Assets = 12,063,449

Assets

Total Assets12,063,449
Total Current Assets12,063,449
Long-term Assets12,063,449
Total Current Assets
Short-term Investments 12,063,449
Total Current Assets  (as reported)12,063,449
Total Current Assets  (calculated)12,063,449
+/-0
Long-term Assets
Long-term Assets  (as reported)0
Long-term Assets  (calculated)0
+/-0

Liabilities & Shareholders' Equity

Total Current Liabilities
Total Current Liabilities  (as reported)0
Total Current Liabilities  (calculated)0
+/-0
Long-term Liabilities
Long-term Liabilities  (as reported)0
Long-term Liabilities  (calculated)0
+/-0
Total Stockholder Equity
Capital Surplus -7,513,961
Total Stockholder Equity (as reported)-7,513,961
Total Stockholder Equity (calculated)-7,513,961
+/-0
Other
Cash and Short Term Investments 12,063,449
Liabilities and Stockholders Equity -7,513,961
Net Tangible Assets 12,063,449



Balance Sheet

Currency in USD. All numbers in thousands.

 Trend2022-06-302022-03-312021-12-312021-09-302021-06-302021-03-312020-12-312017-03-312016-12-312016-09-302016-06-302016-03-31
> Total Assets 
60,490
107,427
102,808
166,247
188,927
17,716,478
38,360,399
22,643,855
28,209,892
29,576,053
29,255,830
12,063,449
12,063,44929,255,83029,576,05328,209,89222,643,85538,360,39917,716,478188,927166,247102,808107,42760,490
   > Total Current Assets 
0
0
0
0
0
17,716,478
38,360,399
22,643,855
28,209,892
29,576,053
29,255,830
12,063,449
12,063,44929,255,83029,576,05328,209,89222,643,85538,360,39917,716,47800000
       Short-term Investments 
0
0
0
0
0
17,716,478
38,360,399
22,643,855
28,209,892
29,576,053
29,255,830
12,063,449
12,063,44929,255,83029,576,05328,209,89222,643,85538,360,39917,716,47800000
   > Long-term Assets 000000000000
       Long Term Investments 
60,490
107,427
102,808
166,247
188,927
0
0
0
0
0
0
0
0000000188,927166,247102,808107,42760,490
> Total Liabilities 
0
0
168
0
0
0
0
0
0
0
0
0
00000000016800
   > Total Current Liabilities 000000000000
       Accounts payable 
0
0
168
0
0
0
0
0
0
0
0
0
00000000016800
   > Long-term Liabilities 000000000000
> Total Stockholder Equity
60,490
107,427
102,640
166,247
188,927
-5,608,734
-7,513,961
-7,513,961
-7,513,961
-7,513,961
-7,513,961
-7,513,961
-7,513,961-7,513,961-7,513,961-7,513,961-7,513,961-7,513,961-5,608,734188,927166,247102,640107,42760,490
   Common Stock000000000000
   Retained Earnings Total Equity000000000000
   Accumulated Other Comprehensive Income 000000000000
   Capital Surplus -7,513,961-7,513,961-7,513,961-7,513,961-7,513,961-7,513,961-5,608,73400000
   Treasury Stock000000000000
   Other Stockholders Equity 
-657
36,435
26,695
88,491
109,522
0
0
0
0
0
0
0
0000000109,52288,49126,69536,435-657



Balance Sheet

Currency in USD. All numbers in thousands.




Cash Flow

Currency in USD. All numbers in thousands.




Income Statement

Currency in USD. All numbers in thousands.


Latest Income Statement (annual, 2021-12-31)

Gross Profit (+$)
totalRevenue-
Cost of Revenue--
Gross Profit-0
 
Operating Income (+$)
Gross Profit-
Operating Expense--
Operating Income-0
 
Operating Expense (+$)
Research Development-
Selling General Administrative-
Selling And Marketing Expenses-
Operating Expense-0
 
Net Interest Income (+$)
Interest Income-
Interest Expense-0
Net Interest Income-0
 
Pretax Income (+$)
Operating Income-
Net Interest Income-
Other Non-Operating Income Expenses9,954,348
Income Before Tax (EBT)9,954,3480
EBIT - interestExpense = 9,954,348
9,954,348
9,954,348
Interest Expense0
Earnings Before Interest and Taxes (ebit)9,954,3489,954,348
Earnings Before Interest and Taxes (ebitda)-
 
After tax Income (+$)
Income Before Tax9,954,348
Tax Provision--
Net Income From Continuing Ops9,954,3489,954,348
Net Income9,954,348
Net Income Applicable To Common Shares9,954,348
 
Non-recurring Events
Discontinued Operations-
Extraordinary Items-
Effect of Accounting Charges-
Other Items-
Non Recurring-
Other Operating Expenses-
Total Other Income/Expenses Net--9,954,348
 

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