Galaxy DigitalGLXY
NasdaqGS•Financial Services•Capital Markets
Galaxy Digital Inc. engages in the digital asset and data centre infrastructure businesses in North America and internationally. It operates through Digital Assets, Data Centers, and Treasury and Corporate segments. The Digital Assets segment provides over-the-counter spot and derivatives trading, lending, and structured products, as well as mergers and acquisitions advisory, and equity and debt capital markets services. This segment also manages investments in the digital assets' ecosystem; and offers blockchain-centric technology and infrastructure solutions, including staking, tokenization, and custodial technology. The Data Centers segment comprises the Helios infrastructure assets. The Treasury and Corporate segment engages in managing a portfolio of digital assets, ventures, private equity, and fund investments, as well as in bitcoin mining operations. It also offers GalaxyOne, a retail financial technology platform designed for individual investors seeking access to traditional and digital markets. The company was founded in 2018 and is headquartered in New York, New York.
Galaxy Digital Inc. (GLXY) reported trailing twelve months revenue of $70.45B as of March 2026.
Galaxy Digital Inc. reported a TTM net loss of $457.66M, with quarterly EBITDA of $-229.42M. The operating margin stands at -2.3%.
The spread between operating margin (-2.3%) and net margin (-2.2%) indicates tight cost control with minimal non-operating drag.
GLXY trades at a P/S of 0.0x. The price-to-book ratio of 1.8x reflects a moderate premium to book value.
The company reported negative free cash flow of $-421.23M, indicating cash consumption over the period. The balance sheet shows $9.99B in total assets with $2.63B in long-term debt against $1.81B in stockholders equity for a debt-to-equity ratio of 1.4. Data based on the most recent quarterly reports.
Competitive analysis based on 4 quarters of fundamental data
Operating margins are under pressure, averaging -0.6%. The business may lack pricing power or face rising costs.'
Limited ROE data for a reliable assessment.
Only 1 of the last 4 quarters had positive FCF — the business may require external capital to sustain operations.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 4 quarters
The company posted negative operating margins in recent quarters — core operations are unprofitable.
FCF covers net income by 0.6x on average — earnings are well-supported by cash generation.
D/E ratio is 1.4 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
FCF turned negative in 3 of the last 4 quarters — occasional cash consumption.
Shares outstanding rose 3.3% — mild dilution. Compare to earnings growth to assess net per-share impact.