Company Analysis

Bitcoin Depot Inc. BTM

A comprehensive view of key metrics, scores, and financial health for Bitcoin Depot Inc.

Overview of Bitcoin Depot Inc.

BTM NCM

Financial Services Capital Markets Framework: Asset Management & Capital Markets Micro Cap

Bitcoin Depot Inc. (BTM), is a Micro Cap company, in the Capital Markets industry, last closed at $0.08, about 228838.8% undervalued vs fair value, -97.2% 1Y return, placing in the top 10% of its sector.

Metrics Rev Growth 7.2% ROE 108.7% Gross Margin 18.4% Div Yield 10.70%

USD 0.08

-30.35%

(Delayed)

• Vol 90d: 325.0%

Market Cap

$1.55M

Enterprise Value

$-4.43M

Overall Score

View breakdown

Overall

Growth

Fair

Profitability

Fair

Health

Fair

Efficiency

Weak

Valuation

Fair

Growth

Fair

Profitability

Fair

Health

Fair

Efficiency

Weak

Valuation

Fair

Completeness: 100%

Confidence: 94%

Updated: Oct 24

Top Beats

Quick Facts

Website https://bitcoindepot.com

HQ Atlanta, GA

Employees 126

Fiscal year Dec 31

Next Events

No upcoming events available.

Fair Value Snapshot

Bear Base Bull

$138

$183

$251

Current: $0.08 +228839% vs base

Engine Room Money Flow™

Micro Cap

Asset Management & Capital Markets - Where revenue goes and how value is created

Flow Steps

Total Revenue

$614.9M

7.2%%

Operating Income (FRE Proxy)

$41.2M

70.2%%

EBITDA

$29.1M

-15%%

Net Income

-$6.2M

47.1%%

Money Flow Bridge

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Flow Direction: Money moves from left to right

Components: Breakdown shows composition of each stage

Industry-Specific: Asset Management & Capital Markets

Data Quality Notes

Note: 'Operating Income (FRE Proxy)' approximates Fee-Related Earnings (FRE), the industry-standard non-GAAP metric for asset managers. True FRE excludes performance fees and carried interest, which are not separately disclosed in standard financial statements.
Note: Owner Pocket percentages are relative to Net Income (not FCF), as distributions are earnings-driven for asset management companies.

Quality & Reliability Indicators

Operating Margin (FRE Proxy)

6.7%

Poor

Operating Income / Revenue — proxy for Fee-Related Earnings margin

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Owner's Pocket - Capital Allocation

Total Returned to Shareholders

Combined dividends, buybacks, and debt reduction

$10.1M

Where It Leaks

Cash Flow Health some concerns

Moderate efficiency issues detected. Review active leaks below for improvement areas.

Active Leaks

2/3

Improving

High Impact

Critical

Low

Stock-Based Compensation Leak

Current: 14.3%

Conversion Leak

Worsening

Locked Leak

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Scores based on quantitative metrics and qualitative factors

Full moat analysis

Key strengths

Consistent Fee Structure Fee margin stability is solid (score 0.97).

Key risks

Below-Peer Return on Equity Return on equity lags peers (score 0.00).
AUM Retention Risk Revenue stickiness is low (stability score 0.40).

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Fee Revenue Quality

Moderate

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Signals, strengths and risks for Fee Revenue Quality

Client Retention & Revenue Stickiness

Moderate

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Signals, strengths and risks for Client Retention & Revenue Stickiness

Compensation Discipline

Moderate

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Signals, strengths and risks for Compensation Discipline

Capital Efficiency

Weak

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Signals, strengths and risks for Capital Efficiency

Earnings Quality & Cash Conversion

Developing

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Signals, strengths and risks for Earnings Quality & Cash Conversion

Balance Sheet Strength

Developing

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Signals, strengths and risks for Balance Sheet Strength

Trade-Off Ledger™

Where management spends the performance budget - Growth, Profitability, or Safety

Asset Managers, Capital Markets & Exchanges vs Industry Peers 77% Coverage

Click axes to expand details. Marker shows current allocation.

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Growth

56th percentile vs peers

Key Signals

EPS Growth YoY 76.1% 83p Rev Growth YoY 7.2% 51p Revenue CAGR 3Y -1.7% 27p

Strengths

EPS Growth YoY in top 20% of peers (76.1%, 83th percentile)

Risks

No significant risks identified for this axis.

Profitability

25th percentile vs peers

Key Signals

Strengths

Risks

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Safety

29th percentile vs peers

Key Signals

Strengths

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Two Futures

Scenario-based fair value ranges for Bitcoin Depot Inc..

WACC X.X%

X%XX%

Rev CAGR 5Y X.X%

-XX%XX%

Op Margin XX.X%

-XX%XX%

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Bear

- - -

- upside

Base

$183.38

- - -

+228838.8% vs current

Snapshot base estimate

Bull

- - -

- upside

Fair Value Range Current: $-

$- $- $-

Bitcoin Depot Inc. BTM

Overview of Bitcoin Depot Inc.

Quick Facts

Next Events

Fair Value Snapshot

Flow Steps

Money Flow Bridge

Data Quality Notes

Quality & Reliability Indicators

Operating Margin (FRE Proxy)

Locked Metric

Locked Metric

Locked Metric

Locked Metric

Locked Metric

Owner's Pocket - Capital Allocation

Total Returned to Shareholders

Stock-Based Compensation Leak

Locked Leak

Locked Leak

Key strengths

Key risks

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Fee Revenue Quality

Client Retention & Revenue Stickiness

Compensation Discipline

Capital Efficiency

Earnings Quality & Cash Conversion

Balance Sheet Strength

Growth

Profitability

Safety

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