IREN
IREN Limited
$27.73
+0.74
(+2.74%)
Mkt Cap
10.91B
Volume
50,653,612
52W Range
26.55-76.87
Sector
Technology
Beta
4.27
EPS (TTM)
-1.82 USD
P/E Ratio
-20.60
Revenue (TTM)
706.98M USD
Rev Growth (5Y)
+160.2%
EPS Growth (5Y)
N/A
AlphaVal · Fair Value
What we estimate one share is worth
$8.41
Overvalued
strong signal
229.7% above fair value
Modeled from cash flows & growth.
AlphaQuality · Grade · Gated
How strong & durable the business is
F
High-Growth Software
30.0 / 100 pillar composite (overridden)
Fast-growing software, still scaling up — graded A–F vs. similar companies.
Company Description
IREN Limited, established in 2018 and based in Sydney, Australia, operates a comprehensive, vertically integrated data center business spanning Australia and Canada. The company possesses and manages all essential infrastructure, including its computing hardware, electrical systems, and the data center facilities themselves. A primary undertaking for IREN Limited is the mining of Bitcoin, a scarce digital asset created and exchanged via a decentralized, peer-to-peer computer network utilizing specialized Bitcoin software. The company was previously named Iris Energy Limited, officially adopting IREN Limited in November 2024.
Track Record
Showing latest 4 periods • Swipe for more
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 707.00M | 501.02M | 187.19M | 75.51M | 59.04M | 5.93M | 1.51M | 1,053 |
| Net Income | (702.60M) | 86.94M | (28.92M) | (171.83M) | (419.77M) | (45.34M) | (1.48M) | (161,120) |
| EPS | -2.22 | 0.41 | -0.29 | -3.14 | -10.25 | -2.18 | -0.04 | -0.01 |
| Free Cash Flow | (2.23B) | (1.13B) | (427.19M) | (110.02M) | (272.69M) | (4.13M) | (5.32M) | (2.53M) |
| FCF / Share | -7.06 | -5.25 | -4.29 | -2.01 | -6.66 | -0.20 | -0.10 | -0.16 |
| Operating CF | 2.10B | 245.89M | 52.22M | 5.73M | 21.56M | 1.31M | (987,000) | (434,919) |
| Total Assets | 15.79B | 2.94B | 1.15B | 332.07M | 570.46M | 100.95M | 11.57M | 1.86M |
| Total Debt | 7.84B | 964.23M | 1.32M | 1.45M | 108.29M | 62.93M | 1.36M | 32,294 |
| Cash & Equiv | 5.90B | 564.53M | 404.60M | 68.89M | 109.97M | 29.27M | 1.96M | 84,948 |
| Book Value | 4.19B | 1.82B | 1.10B | 305.36M | 437.36M | (37.13M) | 6.11M | 1.75M |
| Return on Equity | -0.17 | 0.05 | -0.03 | -0.56 | -0.96 | N/A | -0.24 | -0.09 |
| Metric | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 137.20M | 144.79M | 184.69M | 240.29M | 187.29M | 144.82M | 116.14M | 52.76M | 56.80M | 53.95M | 42.05M | 34.40M |
| Net Income | (684.00M) | (247.83M) | (155.41M) | 384.61M | 95.55M | (16.14M) | (21.89M) | (51.70M) | (27.07M) | 8.64M | (5.23M) | (5.30M) |
| EPS | -1.98 | -0.74 | -0.52 | 1.42 | 0.44 | -0.07 | -0.10 | -0.27 | -0.15 | 0.08 | -0.05 | -0.08 |
| Free Cash Flow | (167.10M) | (919.65M) | (765.20M) | (138.26M) | 16.10M | (350.70M) | (134.01M) | (387.30M) | (162.88M) | (222.04M) | (28.83M) | (21.38M) |
| FCF / Share | -0.46 | -2.76 | -2.57 | -0.51 | 0.07 | -1.60 | -0.64 | -2.05 | -0.87 | -2.12 | -0.40 | -0.33 |
| Operating CF | 1.81B | 60.55M | 71.65M | 142.35M | 258.76M | 93.10M | 53.56M | (3.92M) | 133.72M | (102.75M) | 17.37M | 10.62M |
| Total Assets | 15.79B | 7.26B | 7.03B | 4.27B | 2.94B | 1.99B | 1.85B | 1.28B | 1.15B | 723.60M | 417.17M | 0 |
| Total Debt | 7.84B | 3.96B | 3.84B | 965.63M | 964.23M | 324.07M | 319.91M | 2.60M | 1.32M | 1.72M | 1.36M | 0 |
| Cash & Equiv | 5.90B | 2.21B | 3.26B | 1.03B | 564.53M | 184.33M | 427.27M | 98.59M | 404.60M | 259.69M | 90.31M | (68.89M) |
| Book Value | 4.19B | 2.66B | 2.51B | 2.88B | 1.82B | 1.43B | 1.29B | 1.13B | 1.10B | 677.24M | 381.85M | 305.36M |
| Return on Equity | -0.16 | -0.09 | -0.06 | 0.13 | 0.05 | -0.01 | -0.02 | -0.05 | -0.02 | 0.01 | -0.01 | -0.02 |
IREN News
Here's Why I Sold Cipher Digital and Bought More Iren
IREN Stock Drops 7.3% in Three Months: Is it Worth Investing Now?
Bitcoin Slide Meets 5.7% Bond Yields: Neoclouds Get Hit From Both Sides
IREN Drops 4% as SemiAnalysis Flags Its Canadian Data Centers; Core Scientific Pulls Back 2%
IREN's AI Cloud Business Is Surging. Can the Economics Keep Up?
BlockchAIn Digital Infrastructure Says Nebius Prepayment Funds $800M Data Center Build
Here's why IREN stock has lost momentum despite its AI cloud pivot
IREN Limited's Sweetwater Hub: Can It Fuel IREN's AI Expansion Plans?
IREN Falls 7% as Financing-Heavy Data Center Names Sell Off Apart From Their Sector Fund; TeraWulf and Core Scientific Drop 5%
Applied Digital Falls 4% Ahead of Earnings Despite Its First International Data Center Deal; IREN and Core Scientific Also Drop 4%