IREN Ltd
IREN
38.69
-2.59
-6.27%
IREN Ltd
US · IREN
#1081 by market cap
Listed 2021
38.69
-2.59
-6.27%
Live - 5344 symbols - heartbeat 468s ago
· 2026-10-08 07:40
Pre-market
37.98
-1.84%
After-hours
39.10
+1.07%
Overnight
38.17
-1.34%
- Market cap
- 15.25B
- P/E (TTM)i
- -17.43
- P/Bi
- 3.64
- EPSi
- -2.22
- Div yieldi
- 0.00%
- 52W posi
- 20%
Reader sentiment
Are you bullish or bearish on IREN?
Anonymous reader poll. Unscientific, not investment advice.
✦ Quant Financial Health how this is computed
Weak
- Altman Z-Score is 1.07, below the 1.8 "distress zone" threshold.
- Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.
Revenue annual, last 7 years
Latest year +41.11% YoY
Margins
- Gross margin
- 62.32%
- Operating margin
- -53.57%
- Net margin
- -99.38%
Key ratios & quality
- Enterprise valuei
- 17.07B
- Altman Z-Scorei
- 1.07
Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.
Income statement
| Line item | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Revenue | 2.17M | 7.90M | -- | 75.51M | 187.19M | 501.02M | 707.01M |
| Gross profit | 1.25M | 5.68M | 51.59M | 21.12M | 83.51M | 318.39M | 440.64M |
| Selling & admin expenses | 769.00K | 2.00M | 26.07M | 33.18M | 50.03M | 99.68M | 319.78M |
| Research & development | -- | -- | -- | -- | -- | -- | -- |
| Operating profit | -1.69M | -315.00K | 462.00K | -48.56M | -27.28M | 22.12M | -378.75M |
| Pretax profit | -2.14M | -59.15M | -417.05M | -169.44M | -25.47M | 93.50M | -708.68M |
| Tax | 0 | 1.24M | 2.72M | 2.39M | 3.45M | 6.56M | -6.06M |
| Net profit | -2.14M | -60.39M | -419.77M | -171.83M | -28.92M | 86.94M | -702.62M |
| Basic EPS | 0 | -1 | -10 | -3 | 0 | 0 | -2 |
| Diluted EPS | -0.04 | -1.14 | -10.25 | -3.14 | -0.29 | 0.39 | -2.22 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Revenue | 144.82M | 187.29M | 240.30M | 184.69M | 144.80M | 137.23M |
| Gross profit | 97.92M | 125.69M | 151.26M | 110.38M | 93.57M | 85.43M |
| Selling & admin expenses | 21.81M | 38.24M | 94.10M | 81.52M | 60.54M | 83.62M |
| Research & development | -- | -- | -- | -- | -- | -- |
| Operating profit | 27.69M | 17.42M | -60.14M | -84.66M | -93.35M | -140.62M |
| Pretax profit | -11.11M | 173.91M | 575.30M | -337.93M | -254.09M | -691.97M |
| Tax | 5.04M | -2.77M | 190.69M | -182.52M | -6.26M | -7.97M |
| Net profit | -16.14M | 176.68M | 384.61M | -155.41M | -247.83M | -684.00M |
| Basic EPS | 0 | 1 | 1 | -1 | -1 | -2 |
| Diluted EPS | -0.07 | 0.69 | 1.08 | -0.52 | -0.74 | -2.16 |
Balance sheet
| Line item | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Total current assets | 2.57M | 40.43M | 160.25M | 89.23M | 452.39M | 641.17M | 7.89B |
| Cash & ST investments | 1.96M | 38.99M | 109.97M | 68.89M | 411.13M | 564.53M | 5.90B |
| Inventory | -- | -- | -- | -- | -- | -- | -- |
| Total assets | 11.57M | 134.47M | 570.46M | 332.07M | 1.15B | 2.94B | 15.79B |
| Total current liabilities | 2.76M | 170.46M | 85.11M | 24.00M | 51.07M | 149.35M | 2.22B |
| Short-term debt | 1.96M | 71.98M | 60.48M | 192.00K | 289.00K | 404.00K | 295.27M |
| Long-term debt | -- | 10.84M | 46.62M | -- | -- | 962.77M | 7.42B |
| Total liabilities | 2,755,000.00 | 183,922,000.00 | 133,098,000.00 | 26,713,000.00 | 55,348,000.00 | 1,122,835,000.00 | 11,604,426,000.00 |
| Total equity | 8.82M | -49.45M | 437.36M | 305.36M | 1.10B | 1.82B | 4.19B |
| Retained earnings | -2.25M | -62.64M | -482.41M | -654.28M | -683.11M | -596.17M | -1.30B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Total current assets | 255.91M | 641.17M | 1.12B | 3.38B | 2.42B | 7.89B |
| Cash & ST investments | 196.03M | 564.53M | 1.03B | 3.26B | 2.21B | 5.90B |
| Inventory | -- | -- | -- | -- | -- | -- |
| Total assets | 1.99B | 2.94B | 4.27B | 7.03B | 7.26B | 15.79B |
| Total current liabilities | 553.11M | 149.35M | 203.75M | 682.13M | 651.36M | 2.22B |
| Short-term debt | 322.84M | 404.00K | 400.00K | 62.26M | 122.71M | 295.27M |
| Long-term debt | -- | 962.77M | 964.21M | 3.69B | 3.69B | 7.42B |
| Total liabilities | 564,188,000.00 | 1,122,835,000.00 | 1,391,207,000.00 | 4,516,384,000.00 | 4,600,369,000.00 | 11,604,426,000.00 |
| Total equity | 1.43B | 1.82B | 2.88B | 2.51B | 2.66B | 4.19B |
| Retained earnings | -691.84M | -596.17M | -211.56M | -366.96M | -614.79M | -1.30B |
Cash flow
| Line item | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -- | -- | -- | 5.73M | 52.22M | 245.89M | 2.10B |
| Depreciation & amortization | -- | -- | -- | 30.67M | 50.47M | 181.14M | 417.73M |
| Free cash flow | -5.06M | -79.35M | -331.73M | -110.34M | -427.69M | -1.13B | -2.35B |
| Dividends paid | -- | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | 2.68M | 0 | 215.33M | 39.25M | 783.57M | 602.68M | 4.74B |
| Ending cash balance | 1.96M | 38.99M | 109.97M | 68.89M | 404.60M | 564.53M | 7.62B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Operating cash flow | 93.10M | 103.14M | 142.35M | 71.65M | 75.32M | 1.81B |
| Depreciation & amortization | 47.31M | 63.82M | 85.23M | 99.18M | 121.25M | 112.08M |
| Free cash flow | -350.70M | -254.73M | -138.26M | -765.20M | -1.28B | -167.06M |
| Dividends paid | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | 107.61M | 262.55M | 618.91M | 1.63B | 380.03M | 2.11B |
| Ending cash balance | 184.33M | 564.53M | 1.03B | 3.26B | 2.21B | 7.62B |
Returns & efficiency
| Line item | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| ROE %i | -24.29 | -- | -216.44 | -46.28 | -4.13 | 5.97 | -23.41 |
| ROA %i | -18.51 | -1.58 | -119.03 | -38.09 | -3.90 | 4.25 | -7.50 |
| ROIC %i | -18.95 | -- | -136.95 | -37.96 | -4.67 | 4.65 | -9.78 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- | -56.85 |
| EBIT margin %i | -93.84 | -571.13 | -651.89 | -204.16 | -13.49 | 20.87 | -91.86 |
| FCF / sales %i | -- | -- | -- | -- | -- | -- | -- |
| Current ratioi | 0.93 | 0.24 | 1.88 | 3.72 | 8.86 | 4.29 | 3.55 |
| Quick ratioi | 0.83 | 0.23 | 1.57 | 3.14 | 8.63 | 3.95 | 2.68 |
| Debt / assetsi | 16.94 | 62.34 | 18.98 | 0.44 | 0.11 | 32.79 | 49.65 |
| LT debt / equityi | -- | -- | 10.93 | 0.41 | 0.09 | 53.03 | 180.24 |
| Interest coveragei | -20.00 | -3.09 | -11.96 | -10.06 | -99.80 | 9.47 | -10.96 |
| Revenue CAGR (3Y) %i | -- | -- | -- | 226.27 | 187.25 | 103.98 | 110.77 |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- | -- |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| ROE %i | -3.39 | 5.97 | 26.13 | 20.53 | 7.73 | -23.41 |
| ROA %i | -2.63 | 4.25 | 18.86 | 8.78 | 3.42 | -7.50 |
| ROIC %i | -2.62 | 4.65 | 21.27 | 9.86 | 3.67 | -9.78 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | -3.21 | 20.87 | 107.40 | 56.72 | 26.04 | -91.86 |
| FCF / sales %i | -- | -- | -- | -- | -- | -- |
| Current ratioi | 0.46 | 4.29 | 5.52 | 4.96 | 3.72 | 3.55 |
| Quick ratioi | 0.39 | 3.95 | 5.24 | 4.85 | 3.57 | 2.68 |
| Debt / assetsi | 16.29 | 32.79 | 22.63 | 54.68 | 54.58 | 49.65 |
| LT debt / equityi | 0.09 | 53.03 | 33.56 | 150.54 | 144.20 | 180.24 |
| Interest coveragei | -0.83 | 9.47 | 36.42 | 14.68 | 4.93 | -10.96 |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
✦ Quant Revenue Concentration how this is computed
Single-engine
- Bitcoin mining revenue is the largest reported line at 81.78% of revenue, across 2 reported segments.
- The next-largest line, Artificial Intelligence (AI) cloud service revenue, is a distant second at 18.22% - a sharp slowdown here would have little to offset it.
Revenue breakdown most recent period
Business
Bitcoin mining revenue81.78%
Artificial Intelligence (AI) cloud service revenue18.22%
Region
Australia81.78%
Canada18.22%
Quote time 2026-10-08 07:40:14 · For reference only, not investment advice and not tailored to your situation.