IREN
IREN Limited
$37.07
-3.51
(-8.65%)
Mkt Cap
13.23B
Volume
33,109,309
52W Range
14.72-76.87
Sector
Technology
Beta
4.28
EPS (TTM)
0.04
P/E Ratio
926.75
Revenue (TTM)
757.07M
Rev Growth (5Y)
+219.5%
EPS Growth (5Y)
N/A
AlphaVal · Fair Value
What we estimate one share is worth
$22.92
Overvalued
strong signal
61.7% 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 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| Revenue | 501.02M | 187.19M | 75.51M | 59.04M | 5.93M | 1.51M | 1,053 |
| Net Income | 86.94M | (28.92M) | (171.83M) | (419.77M) | (45.34M) | (1.48M) | (161,120) |
| EPS | 0.41 | -0.29 | -3.14 | -10.25 | -1.14 | -0.04 | -0.01 |
| Free Cash Flow | (1.13B) | (427.19M) | (110.02M) | (272.69M) | (4.13M) | (5.32M) | (2.53M) |
| FCF / Share | -5.25 | -4.29 | -2.01 | -6.66 | -0.08 | -0.10 | -0.16 |
| Operating CF | 245.89M | 52.22M | 5.73M | 21.56M | 1.31M | (987,000) | (434,919) |
| Total Assets | 2.94B | 1.15B | 332.07M | 392.28M | 100.95M | 11.57M | 1.86M |
| Total Debt | 964.23M | 1.32M | 1.45M | 108.29M | 62.93M | 1.36M | 32,294 |
| Cash & Equiv | 564.53M | 404.60M | 68.89M | 75.62M | 29.27M | 1.96M | 84,948 |
| Book Value | 1.82B | 1.10B | 305.36M | 437.36M | (37.13M) | 6.11M | 1.75M |
| Return on Equity | 0.05 | -0.03 | -0.56 | -0.96 | N/A | -0.24 | -0.09 |
| Metric | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 144.79M | 184.69M | 240.29M | 187.29M | 144.82M | 116.14M | 52.76M | 56.80M | 53.95M | 42.05M | 34.40M | 34.22M |
| Net Income | (247.83M) | (155.41M) | 384.61M | 95.55M | (16.14M) | (21.89M) | (51.70M) | (27.07M) | 8.64M | (5.23M) | (5.30M) | (6.92M) |
| EPS | -1.30 | -0.52 | 1.42 | 0.44 | 0.11 | 0.09 | -0.27 | -0.18 | 0.08 | -0.07 | -0.08 | -0.12 |
| Free Cash Flow | (919.65M) | (765.20M) | (138.26M) | 16.10M | (350.70M) | (247.37M) | (387.30M) | (162.88M) | (222.04M) | (28.83M) | (21.38M) | (93.82M) |
| FCF / Share | -4.25 | -3.53 | -0.64 | 0.07 | -1.60 | -1.18 | -2.05 | -1.06 | -2.12 | -0.40 | -0.31 | -1.66 |
| Operating CF | 60.55M | 71.65M | 142.35M | 258.76M | 93.10M | (59.80M) | (3.92M) | 133.72M | (102.75M) | 17.37M | 10.62M | (71.38M) |
| Total Assets | 7.26B | 7.03B | 4.27B | 2.94B | 1.99B | 1.85B | 1.28B | 1.15B | 723.60M | 417.17M | 0 | 332.07M |
| Total Debt | 3.96B | 3.84B | 965.63M | 964.23M | 324.07M | 319.91M | 2.60M | 1.32M | 1.72M | 1.36M | 0 | 1.45M |
| Cash & Equiv | 2.21B | 3.26B | 1.03B | 564.53M | 184.33M | 427.27M | 98.59M | 404.60M | 259.69M | 90.31M | (68.89M) | 68.89M |
| Book Value | 2.66B | 2.51B | 2.88B | 1.82B | 1.43B | 1.29B | 1.13B | 1.10B | 677.24M | 381.85M | 305.36M | 305.36M |
| Return on Equity | -0.09 | -0.06 | 0.13 | 0.05 | -0.01 | -0.02 | -0.05 | -0.02 | 0.01 | -0.01 | -0.02 | -0.02 |
IREN News
IREN Vs Nebius: Which Neocloud Should You Buy and Why?
The Big 3: GOOGL, SKHY, IREN
IREN: From A Bitcoin Miner To An AI Infrastructure Play
IREN's $4 Billion ARR Changes Everything
Alger Capital Appreciation Fund Q2 2026 Portfolio Update
Is Iren Stock Still a Buy After It Surges 20% on New Contracts?
IREN's AI Pivot Gains Strong Momentum: Time to Buy or Hold the Stock?
Neoclouds Nebius, IREN Tap Massive Hyperscaler AI Capex — Compute Is The New Oil
IREN Expands AI Cloud Platform: Can It Sustain the Momentum?
IREN's $2.8 Billion AI Contract Haul Changes the Stock's Story