Vulcan Infrastructure & Power Inc. VIP

Financials SIC 6199 - Finance Services Nasdaq

We are a developer and operator of datacenters and powered assets designed to support energy-intensive computing workloads. We currently build, maintain and operate datacenters focused on bitcoin mining, along with related power and electric infrastructure. We generate revenue from (1) datacenter hosting, (2) cryptocurrency self-mining, and (3) power and capacity sales. We are increasingly focused on leveraging our power generation assets, grid interconnection rights and datacenter development expertise to support artificial intelligence ("AI") and high-performance computing ("HPC") workloads, which we believe represent a significant long-term growth opportunity.

We own and operate a vertically integrated cryptocurrency datacenter and power generation facility in Torrey, New York (the "New York Facility"), which includes a natural gas power generation plant with approximately 106 megawatt ("MW") of nameplate capacity. We also own a 34-acre greenfield site in Columbus, Mississippi, which we expect will provide access to 40 MW of datacenter capacity by the first quarter of 2027. Additionally, we have 7.5 MW of datacenter capacity in North Dakota (the "North Dakota Facility") through a five-year lease, which provides us with energy access to support our cryptocurrency mining operations.

Last close 1.89 2026-09-04
Market cap $32.4M estimated share count
52-week range 1.55 - 2.79

Valuation FY2025 figures against the last close

P/S0.6x
P/E5.6x
P/FCF
EV/EBITDA7.0x
Dividend yield
Diluted EPS0.34

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Revenue $58.8M$59.5M$70.4M$90.0M$97.3M$20.1M
SG&A $12.5M$17.3M$26.2M$35.2M$24.0M$5.6M
Operating income -$3.8M-$11.4M-$16.9M-$233.2M$32.8M-$2.6M
Interest expense $4.0M$7.1M$12.7M$21.6M$3.7M$600.0K
Pre-tax income $4.8M-$19.9M-$29.0M-$254.7M$29.5M-$3.3M
Income tax $479.0K$69.0K$0$15.0M$7.9M$0
Net income $5.3M-$19.8M-$29.5M-$271.1M-$44.5M-$3.3M
EPS, basic 0.35-1.88-4.43-63.97-1.41
EPS, diluted 0.34-1.88-4.43-63.97-1.23
Shares, diluted (wtd. avg.) $15.3M$10.5M$6.7M$4.2M$36.6M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Cash and equivalents $19.6M$8.6M$13.3M$15.2M$82.6M$5.1M$11.8M
Short-term investments $0$496.0K$0
Receivables $2.0M$1.5M$358.0K$2.7M$237.0K$390.0K
Total current assets $34.8M$26.8M$24.4M$33.1M$100.6M$7.8M
Property, plant and equipment $15.7M$30.3M$45.1M$130.4M$216.0M$56.6M
Goodwill $3.1M$0
Other intangibles $3.5M$0
Total assets $53.6M$64.9M$71.2M$163.8M$341.3M$64.6M
Accounts payable $1.9M$3.9M$3.5M$9.6M$5.7M$1.7M
Total current liabilities $63.0M$19.3M$21.0M$98.7M$41.7M$11.6M
Long-term debt $43.1M$68.1M$68.7M
Total liabilities $99.9M$120.6M$122.2M$210.8M$128.8M$20.2M
Retained earnings -$384.5M-$389.7M-$370.0M-$340.5M-$69.4M-$24.9M
Total equity -$46.3M-$55.8M-$51.0M-$47.0M$212.4M$44.4M$33.7M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Operating cash flow -$15.0M-$12.0M-$12.2M-$14.5M$45.3M$557.0K
Depreciation and amortisation $11.8M$13.5M$13.6M$35.1M$8.5M$4.6M
Stock-based compensation $760.0K$2.2M$2.3M$2.6M$3.8M$0
Investing cash flow $36.6M-$3.9M-$6.0M-$121.4M-$163.6M-$10.6M
Financing cash flow -$10.6M$11.2M$13.8M$62.1M$174.1M$3.3M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001844971-26-000011.

Others in SIC 6199

TickerCompanyMarket capP/ERevenue growth
AXP AMERICAN EXPRESS CO $220.26B 21.2x 6.4%
MSTR Strategy Inc $50.34B 3.0%
COIN Coinbase Global, Inc. $48.64B 41.5x 9.4%
SYF Synchrony Financial $26.00B 8.6x
CRCL Circle Internet Group, Inc. $25.33B 624.0%
SOFI SoFi Technologies, Inc. $23.53B 46.7x 23.1%
IREN IREN Ltd $15.97B 41.1%
BMNR BITMINE IMMERSION TECHNOLOGIES, INC. $15.06B 1.9x 84.1%