Bitcoin Well (FRA:BH9) ROE %: Negative Equity% (As of Mar. 2026)


What is Bitcoin Well ROE %?

Bitcoin Well FRA:BH9 ROE % is Negative Equity% as of Mar. 2026. The stock has 4 warning signs investors should review. Among 794 Capital Markets companies, Bitcoin Well ranks worse than 125944.46% on this metric.

ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Bitcoin Well's annualized net income for the quarter that ended in Mar. 2026 was €5.78 Mil. Bitcoin Well's average Total Stockholders Equity over the quarter that ended in Mar. 2026 was €-5.38 Mil. Therefore, Bitcoin Well's annualized ROE % for the quarter that ended in Mar. 2026 was Negative Equity%.

The historical rank and industry rank for Bitcoin Well's ROE % or its related term are showing as below:

FRA:BH9's ROE % is not ranked *
in the Capital Markets industry.
Industry Median: 6.005
* Ranked among companies with meaningful ROE % only.

Bitcoin Well  (FRA:BH9) ROE % Explanation

ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.

The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:

ROE %(Q: Mar. 2026 )
=Net Income/Total Stockholders Equity
=5.78/-5.38
=(Net Income / Revenue )*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(5.78 / 88.052)*(88.052 / 16.678)*(16.678 / -5.38)
=Net Margin %*Asset Turnover*Equity Multiplier
=6.56 %*5.2795*N/A
=ROA %*Equity Multiplier
=34.63 %*N/A
=Negative Equity %

With this breakdown, it is clear that if a company grows its Net Profit Margin, its Asset Turnover, or its Leverage, it can grow its ROE %.

The factors that affect a company's ROE % can also be illustrated with the five-step DuPont Analysis:

ROE %(Q: Mar. 2026 )
=Net Income/Total Stockholders Equity
=5.78/-5.38
=(Net Income / Pre-Tax Income) * (Pre-Tax Income / Operating Income) * (Operating Income / Revenue) * (Revenue / Total Assets) * (Total Assets / Total Stockholders Equity)
= (5.78 / 5.78) * (5.78 / -2.536) * (-2.536 / 88.052) * (88.052 / 16.678) * (16.678 / -5.38)
= Tax Burden * Interest Burden * Operating Margin % * Asset Turnover * Equity Multiplier
= 1 * -2.2792 * -2.88 % * 5.2795 * N/A
=Negative Equity %

Note: The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Be Aware

Net Income is used.

Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.

Bitcoin Well ROE % Related Terms

Bitcoin Well ROE % Historical Data

* Premium members only.

The historical data trend for Bitcoin Well's ROE % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Bitcoin Well ROE % Chart

Bitcoin Well Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROE %
Get a 7-Day Free Trial -525.13 -9,357.30 0.00 0.00 0.00

Bitcoin Well Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROE % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Negative Equity 0.00 0.00 Negative Equity Negative Equity

FRA:BH9 vs MS, GS, SCHW: ROE % Comparison

For the Capital Markets subindustry, Bitcoin Well's ROE %, along with its competitors' market caps and ROE % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Bitcoin Well ROE % vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Bitcoin Well's ROE % distribution charts can be found below:

* The bar in red indicates where Bitcoin Well's ROE % falls into.


Bitcoin Well ROE % Calculation

Bitcoin Well's annualized ROE % for the fiscal year that ended in Dec. 2025 is calculated as

ROE %=Net Income (A: Dec. 2025 )/( (Total Stockholders Equity (A: Dec. 2024 )+Total Stockholders Equity (A: Dec. 2025 ))/ count )
=-0.491/( (-8.71+-4.671)/ 2 )
=-0.491/-6.6905
=N/A %

Bitcoin Well's annualized ROE % for the quarter that ended in Mar. 2026 is calculated as

ROE %=Net Income (Q: Mar. 2026 )/( (Total Stockholders Equity (Q: Dec. 2025 )+Total Stockholders Equity (Q: Mar. 2026 ))/ count )
=5.78/( (-4.671+-6.089)/ 2 )
=5.78/-5.38
=Negative Equity %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data, the net income data used here is four times the quarterly (Mar. 2026) net income data. ROE % is displayed in the 30-year financial page.

* Note that if the average Total Stockholders Equity is zero or negative, then ROE % would be considered meaningless and hence not be calculated.

Frequently Asked Questions Learn more about ROE % →
What does a ROE % of Negative Equity% mean?
Bitcoin Well (FRA:BH9) has a ROE % of Negative Equity% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Bitcoin Well and its competitors. According to the industry distribution chart, Bitcoin Well ranks #999999 out of 794 companies in the Capital Markets industry.
Is Bitcoin Well's ROE % too high?
Bitcoin Well's current ROE % is Negative Equity%. Based on the distribution chart, Bitcoin Well ranks #999999 out of 794 companies in the Capital Markets industry, which is in the bottom quartile relative to peers.
How does Bitcoin Well's ROE % compare to MS and GS?
According to the Capital Markets industry distribution chart, Bitcoin Well ranks #999999 out of 794 companies for ROE %. This places Bitcoin Well in the lower half of its industry. The industry median ROE % is 6.01. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROE % for a Capital Markets company?
The median ROE % among Capital Markets companies is 6.01, based on 794 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Bitcoin Well and its competitors. For the Capital Markets industry, the median ROE % is 6.01 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bitcoin Well's current ROE % is Negative Equity%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bitcoin Well stock overvalued right now?
Based on GuruFocus' analysis, Bitcoin Well (FRA:BH9) is currently considered Significantly Undervalued. The stock's GF Value™ is €0.05, compared to a current price of €0.01 — trading 72% below its estimated fair value. The current ROE % is Negative Equity%. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Bitcoin Well (FRA:BH9), the current ROE % is Negative Equity% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Bitcoin Well Business Description

Other Exchanges BCNWF:USABTCW:Canada
Address 10175 - 101 Street NW, Suite 1700, Enbridge Centre, Edmonton, AB, CAN, T5J 0H3
Bitcoin Well Inc offers ways to buy and sell bitcoin and other cryptocurrencies through a Bitcoin ATM network and suite of web-based transaction services. The company operates in three operating business segments: Bitcoin ATMs, Online Bitcoin Portal and Bitcoin Well Infinite. It derives maximum revenue from the Bitcoin ATM segment, which comprises sales and expenses related to the company's Bitcoin ATMs placed and operating throughout Canada. The Online Bitcoin Portal segment includes sales and expenses related to the company's online bitcoin platform. The Bitcoin Well Infinite segment includes sales and expenses related to large bitcoin transactions for high net worth individuals and businesses.