Back to rankings

IREN Limited (IREN)

NEUTRAL
Financial ServicesCapital MarketsAustralia

Fundamental

54

Price

$41.90

Market Cap

$14.31B

Part 1 · What the company is worth

Overview

IREN Limited operates in the vertically integrated data center business in Australia and Canada. The company owns and operates computing hardware, as well as electrical infrastructure and data centers. It also mines Bitcoin, a scarce digital asset that is created and transmitted through the operation of a peer-to-peer network of computers running the Bitcoin software. The company was formerly known as Iris Energy Limited and changed its name to IREN Limited in November 2024. The company was incorporated in 2018 and is based in Sydney, Australia.

No editorial profile for this company yet

Direct competitors

Who this company fights with for the same customers

No editorial profile for this company yet

No competitor list for this company yet.

Balance Sheet & Liquidity

Revenue

$757M

Trailing 12 months (through 3/31/2026)

Net Income

$158M

Trailing 12 months (through 3/31/2026)

Free Cash Flow

$-328M

Total Equity

$1.82B

Total Liabilities

$1.12B

Current Ratio

3.72

Interest Coverage

10.22

Debt/EBITDA

19.98

Earnings Per Share

Revenue & Net Income

Free Cash Flow

Income Breakdown

Historical statement

Margins over time

Debt over time

How heavy the debt is

Growth grid

Growth — Revenue

Fair Value Estimation

Fairly Valued

Fair Value

$53.04

Current Price

$41.90

Margin of Safety

+21.0%

Fair Value Range

$34.48 - $71.60

Estimation Methods

Analyst Target:$80.19
DCF:$6.56
PE-based:$10.25
Graham Growth:$12.54
EPV:-
Analyst Consensus:Strong Buy (17B / 4H / 1S)
Last Earnings Surprise:-283.02%

Valuation Metrics

P/E Ratio

61.25

ROE

4.8%

P/B Ratio

5.34

P/FCF

-

Gross Margin

68.4%

ROIC

-4.9%

Profitability Radar

Value Creation (Economic Moat)

ROIC

-4.9%

WACC

14.5%

ROIC − WACC

-19.3 pp

ROIC is below the cost of capital — the company is destroying value for every dollar invested.

Fundamental Analysis Criteria

Passed (13)

  • EPS shows upward trend
  • Price CAGR 20.97%
  • Gross Margin 68.4%
  • Debt/Equity ratio
  • Current Ratio
  • Interest Coverage
  • Low reliance on intangibles
  • Revenue Growth 5Y 196.8%
  • Analyst Consensus 77% Buy
  • Earnings Surprise avg 140.8%
  • Earnings Quality (OCF/NI) 2.48
  • Net Margin Trend 17.4% vs -15.4%
  • Piotroski F-Score 6/9

Failed (10)

  • ROIC -4.9%
  • P/B Ratio 5.34
  • Operating Margin -54.0%
  • Positive Free Cash Flow
  • Debt/EBITDA
  • Return on Tangible Assets
  • Price below Graham Number
  • DCF valuation (Unknown)
  • ROE 3.1%
  • Share Dilution 123.5%

Unavailable (4)

  • P/FCF NaN
  • Dividend Payout NaN%
  • CapEx intensity
  • PEG Ratio (need PE > 0 and growth > 0)

Piotroski F-Score

6/9

Mixed signals: some areas need attention

score
criteria

Earnings Quality

2.48

High quality: earnings backed by cash

Share Dilution

123.5%

Issuing new shares, diluting ownership

Governance

Executive Team

NameTitleAge
Mr. William RobertsCo-Founder, Co-CEO & Executive Director35
Mr. Daniel RobertsCo-Founder, Co-CEO & Executive Director40
Mr. Anthony John LewisChief Financial Officer49
Mr. David ShawChief Operating Officer58
Mr. Denis SkrinnikoffChief Technology Officer40
Ms. Cesilia KimChief Legal Officer & Secretary50
Mr. Chris ParkerChief Marketing Officer-
Kent DraperChief Commercial Officer-
Mr. John GrossChief Innovation Officer-
Mr. Michael NudelmanChief Development Officer-

Part 2 · The price and when to enter

This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.

Latest News

Recent headlines for IREN, sourced from Markets Gazette.

  • 6/9/2026NEGATIVE
    IREN Stock Is Slipping As Investors Pulled Back From High Growth Names

    IREN Ltd. shares experienced a notable decline on Tuesday, reflecting a broader market trend of investors divesting from high-growth and AI infrastructure stocks. This pullback is occurring in anticipation of the crucial May Consumer Price Index (CPI) report scheduled for release on Wednesday. The move suggests heightened caution among market participants regarding inflation data and its potential impact on interest rate policies, leading to a de-risking strategy away from growth-oriented equities.

  • 6/4/2026NEGATIVE
    Why Is IREN Stock Falling On Thursday?

    IREN Limited (NASDAQ:IREN) experienced significant downward price movement on Thursday, with substantial selling pressure observed throughout the trading session. While the specific catalyst for the sharp decline was not immediately detailed in the provided snippet, the intense selling indicates a negative market sentiment surrounding the stock. Investors are likely reacting to undisclosed news or broader market conditions impacting the company. This price action suggests potential concerns regarding the company's future performance or valuation, warranting further investigation into the underlying reasons for the sell-off.

  • 5/26/2026POSITIVE
    Paul Tudor Jones Just Bought 57% More IREN Shares, Betting Big On The 'AI Infrastructure Buildout' As It 'Feels Like '99'

    Legendary investor Paul Tudor Jones significantly increased his stake in IREN, acquiring 57% more shares in the first quarter. This substantial buy-in underscores a strong conviction in the company's role within the burgeoning AI infrastructure sector. Jones's comparison of the current market sentiment to 1999 suggests he anticipates a period of significant growth and technological advancement, similar to the dot-com era. Investors are likely to view this move as a strong endorsement, potentially driving further interest and investment into IREN as a key player in the AI buildout.

  • 5/7/2026NEGATIVE
    IREN Stock Is Tumbling Ahead Of Q3 Earnings: What You Need To Know

    Iren Ltd (NASDAQ:IREN) experienced a significant downturn in its stock price on Thursday, reflecting investor apprehension ahead of the company's upcoming third-quarter earnings announcement. This cautious sentiment suggests that market participants are anticipating potential challenges or a less-than-favorable financial report. The stock's decline indicates a preemptive move by traders to reduce exposure before the earnings data is released, highlighting a lack of immediate positive catalysts and a focus on potential downside risks.

  • 4/24/2026NEUTRAL
    IREN Stock Is Trending Overnight: What's Going On?

    IREN Ltd. (NASDAQ:IREN) shares experienced significant trending activity during overnight trading on Friday. While the article notes the stock's movement, it does not provide specific reasons or catalysts for this trend. Investors are advised to seek further information regarding any corporate announcements, market sentiment shifts, or sector-specific news that might be influencing IREN's price action. Without additional context, the current trend is purely observational.

  • 3/19/2026NEGATIVE
    What's Going On With IREN Stock On Thursday?

    IREN Ltd shares experienced a notable decline in early trading on Thursday. The stock is currently trading lower, indicating negative investor sentiment. While the specific catalyst for the downturn is not detailed in the provided snippet, such price action suggests potential concerns regarding the company's recent performance, future outlook, or broader market conditions affecting its sector. Investors are advised to monitor further developments for a clearer understanding of the underlying issues impacting IREN's valuation.

  • 3/5/2026NEGATIVE
    Short-Seller Jim Chanos Sounds Alarm On IREN's $6 Billion Equity Filing, Questions Silence On $500 Million Revenue Guidance

    Renowned short-seller Jim Chanos has cast doubt on IREN Ltd.'s (NASDAQ:IREN) massive new $6 billion equity filing. Chanos questioned the company's silence regarding its $500 million revenue guidance, suggesting the figures may not be sustainable or that there is undisclosed information. This capital raise, coupled with skepticism from an experienced market commentator like Chanos, raises concerns about IREN's financial health and future prospects. Investors should closely monitor this situation, as Chanos's critique could lead to downward pressure on the stock.

via Markets Gazette