IREN - IREN Limited
Price:
--
--
|
CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$82.17
DETAILS
HIGH:
$99.00
LOW:
$50.00
MEDIAN:
$84.50
CONSENSUS:
$82.17
UPSIDE:
99.01%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| Revenue | |||||||
| Revenue | 501.0 | 187.2 | 75.5 | 59.0 | 5.9 | 1.5 | 0.0 |
| Cost of Revenue | 159.0 | 105.1 | 54.4 | 7.4 | 1.7 | 0.6 | 0.0 |
| Gross Profit | 342.0 | 82.1 | 21.1 | 51.6 | 4.3 | 0.9 | 0 |
| Operating Expenses | |||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 127.2 | 50.0 | 33.2 | 26.1 | 1.5 | 0.5 | 0.1 |
| Other Expenses | 192.7 | 59.4 | 36.5 | 25.1 | 3.0 | 1.5 | 0 |
| Operating Expenses | 319.9 | 109.4 | 69.7 | 51.1 | 4.5 | 2.0 | 0.1 |
| Operating Income | |||||||
| Operating Income | 22.1 | (27.3) | (48.6) | 0.5 | (0.2) | (1.2) | (0.1) |
| Interest Expense | 11.0 | 0.1 | 16.2 | 425.4 | 10.9 | 0.1 | 0 |
| Interest Income | 7.5 | 5.8 | 0.9 | 0.1 | 0.0 | 0.0 | 0.0 |
| Profitability | |||||||
| EBITDA | 285.7 | 25.1 | (122.6) | 16.1 | (32.6) | (0.9) | 0 |
| EBIT | 104.5 | (25.4) | (153.2) | 8.4 | (33.5) | (1.4) | (0.2) |
| Income Before Tax | 93.5 | (25.5) | (169.4) | (417.0) | (44.4) | (1.5) | (0.2) |
| Income Tax Expense | 6.6 | 3.5 | 2.4 | 2.7 | 0.9 | 0 | 0 |
| Net Income | 86.9 | (28.9) | (171.8) | (419.8) | (45.3) | (1.5) | (0.2) |
| Per Share Data | |||||||
| EPS (Basic) | 0.41 | -0.29 | -3.14 | -10.25 | -1.14 | -0.04 | -0.01 |
| EPS (Diluted) | 0.39 | -0.29 | -3.14 | -10.25 | -1.07 | -0.04 | -0.01 |
| Shares Outstanding | 214.6 | 99.6 | 54.8 | 40.9 | 52.9 | 55.0 | 16.3 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| Current Assets | |||||||
| Cash & Cash Equivalents | 564.5 | 404.6 | 68.9 | 75.6 | 29.3 | 2.0 | 0.1 |
| Short-Term Investments | 0 | 6.5 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 25.0 | 29.4 | 6.5 | 16.3 | 0.6 | 0.3 | 0 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 5.8 | 2.1 | 2.4 | 13.0 | 0.1 | 0 | 0.1 |
| Total Current Assets | 641.2 | 452.4 | 89.2 | 110.2 | 30.4 | 2.6 | 0.2 |
| Non-Current Assets | |||||||
| Property, Plant & Equipment | 1,935.1 | 442.9 | 242.5 | 171.1 | 13.0 | 8.4 | 1.4 |
| Goodwill | 0 | 0 | 0 | 0.4 | 0.5 | 0.6 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 333.7 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 30.3 | 257.7 | 0.4 | 109.0 | 56.4 | 0 | 0.3 |
| Total Non-Current Assets | 2,299.2 | 700.6 | 242.8 | 282.1 | 70.6 | 9.0 | 1.7 |
| Total Assets | 2,940.3 | 1,153.0 | 332.1 | 392.3 | 101.0 | 11.6 | 1.9 |
| Current Liabilities | |||||||
| Account Payables | 81.7 | 27.3 | 11.5 | 13.2 | 0.4 | 0.5 | 0.0 |
| Short-Term Debt | 0 | 0 | 0 | 60.4 | 54.0 | 1.4 | 0.0 |
| Deferred Revenue | 0.9 | 2.6 | 0 | 0 | 0.1 | 0 | 0 |
| Other Current Liabilities | 3.9 | 1.3 | 1.0 | 2.1 | 72.7 | (0.1) | 0 |
| Total Current Liabilities | 149.3 | 51.1 | 24.0 | 85.1 | 128.0 | 1.9 | 0.1 |
| Non-Current Liabilities | |||||||
| Long-Term Debt | 962.8 | 0 | 0 | 46.6 | 8.1 | 0 | 0 |
| Deferred Tax Liabilities | 8.0 | 3.1 | 1.4 | 0.2 | 1.2 | 0 | 0 |
| Other Non-Current Liabilities | 1.7 | 0.1 | 0.1 | 0 | 0 | 0 | 0 |
| Total Non-Current Liabilities | 973.5 | 4.3 | 2.7 | 48.0 | 10.1 | 0 | 0 |
| Total Liabilities | 1,122.8 | 55.3 | 26.7 | 133.1 | 138.1 | 1.9 | 0.1 |
| Stockholders' Equity | |||||||
| Common Stock | 2,355.1 | 1,764.3 | 965.9 | 926.6 | 7.8 | 7.2 | 1.9 |
| Retained Earnings | (596.2) | (683.1) | (654.3) | (482.4) | (47.0) | (1.6) | (0.1) |
| Accumulated Other Comprehensive Income | (30.1) | (35.0) | (34.7) | (6.8) | 2.1 | 0.5 | 0 |
| Total Stockholders' Equity | 1,817.5 | 1,097.5 | 305.4 | 437.4 | (37.1) | 6.1 | 1.8 |
| Total Liabilities & Equity | 2,940.3 | 1,152.8 | 332.1 | 570.5 | 101.0 | 8.0 | 1.9 |
| Debt Metrics | |||||||
| Total Debt | 964.2 | 1.3 | 1.4 | 108.3 | 62.9 | 1.4 | 0.0 |
| Net Debt | 399.7 | (403.3) | (67.4) | (1.7) | 33.7 | 0.0 | (0.1) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||
| Net Income | 86.9 | (28.9) | (171.8) | (419.8) | (45.0) | (2.1) | (0.2) |
| Depreciation & Amortization | 181.1 | 50.5 | 31.7 | 7.7 | 0.9 | 0.8 | 0 |
| Stock-Based Compensation | 42.6 | 23.6 | 0 | 13.9 | 0 | 0.2 | 0 |
| Change in Working Capital | (5.4) | 11.4 | 9.5 | (0.2) | 0.5 | 0.2 | (0.4) |
| Other Non-Cash Items | (59.4) | (4.3) | 136.3 | 419.9 | 44.4 | 1.5 | 0.1 |
| Operating Cash Flow | 245.9 | 52.2 | 5.7 | 21.6 | 1.3 | (1.0) | (0.4) |
| Investing Activities | |||||||
| Capital Expenditure | (1,372.6) | (479.9) | (116.1) | (294.2) | (5.4) | (4.3) | (2.1) |
| Acquisitions | 0 | 0 | 0 | 0 | 0.0 | 0 | 0 |
| Purchases of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Sales/Maturities of Investments | 0.5 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | (8.3) | (18.6) | 44.6 | (23.9) | (55.2) | (0.2) | (0.2) |
| Investing Cash Flow | (1,380.5) | (498.5) | (71.5) | (318.1) | (60.7) | (4.5) | (2.3) |
| Financing Activities | |||||||
| Net Debt Issuance | 701.2 | 0.0 | (9.4) | 53.1 | 9.2 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | (0.3) | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | (9.2) | (0.5) | (0.2) | 103.6 | (0.0) | 4.8 | 2.8 |
| Financing Cash Flow | 1,294.7 | 782.1 | 28.6 | 372.0 | 88.0 | 7.3 | 2.8 |
| Cash Position | |||||||
| Net Change in Cash | 159.9 | 335.7 | (41.1) | 71.0 | 27.3 | 2.3 | 0.1 |
| Cash at Beginning | 404.6 | 68.9 | 110.0 | 39.0 | 2.0 | (3.3) | 0.1 |
| Cash at End | 564.5 | 404.6 | 68.9 | 110.0 | 29.3 | (1.0) | 0.2 |
| Free Cash Flow | (1,126.7) | (427.2) | (110.0) | (272.7) | (4.1) | (5.3) | (2.5) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| Income Statement | |||||||
| Revenue | 501.0 | 187.2 | 75.5 | 59.0 | 5.9 | 1.5 | 0.0 |
| Gross Profit | 342.0 | 82.1 | 21.1 | 51.6 | 4.3 | 0.9 | 0 |
| Operating Income | 22.1 | (27.3) | (48.6) | 0.5 | (0.2) | (1.2) | (0.1) |
| Net Income | 86.9 | (28.9) | (171.8) | (419.8) | (45.3) | (1.5) | (0.2) |
| EPS (Diluted) | 0.39 | -0.29 | -3.14 | -10.25 | -1.07 | -0.04 | -0.01 |
| Balance Sheet | |||||||
| Cash & Equivalents | 564.5 | 404.6 | 68.9 | 75.6 | 29.3 | 2.0 | 0.1 |
| Total Assets | 2,940.3 | 1,153.0 | 332.1 | 392.3 | 101.0 | 11.6 | 1.9 |
| Total Debt | 964.2 | 1.3 | 1.4 | 108.3 | 62.9 | 1.4 | 0.0 |
| Stockholders' Equity | 1,817.5 | 1,097.5 | 305.4 | 437.4 | (37.1) | 6.1 | 1.8 |
| Cash Flow | |||||||
| Operating Cash Flow | 245.9 | 52.2 | 5.7 | 21.6 | 1.3 | (1.0) | (0.4) |
| Capital Expenditure | (1,372.6) | (479.9) | (116.1) | (294.2) | (5.4) | (4.3) | (2.1) |
| Free Cash Flow | (1,126.7) | (427.2) | (110.0) | (272.7) | (4.1) | (5.3) | (2.5) |