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IREN Ltd

IREN

$47.16 ▼ -1.41 (-2.90%) at close

13 Visible periods

30 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Poor

Bearish

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Analytical Summary

IREN Ltd faces fundamental challenges with weakness in Return on Common Equity (%) and Debt to Equity. The fundamentals warrant careful consideration of downside risks.

Market Cap —

Dividend Yield —

Revenue Growth -26.7% ↘

Op. Margin -452.1% ↘

ROIC -5.2% ↗

FCF / Share None

Trailing P/E —

Price / Book —

FCF Yield —

Debt / Equity 1.81

info Valuation on last close. End-of-day price, Sep 23, 2026.

13-Year Financial Trajectory

Quarterly

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$137.22M

↓ -26.7% —

Net Income Profit after all expenses

$-684.00M

↓ -277.8% —

Operating Margin Operating profit as % of sales

-452.1%

↓ -180.3% 0th

FCF / Share Free cash flow per share

$-2.62

↓ -1015.0% —

Long-Term Debt Long-term obligations

$7.59B

↑ +688.7% —

trending_up

Bullish Indicators

No bullish signals detected.

warning

Bearish Risks

Debt to EquityDebt to Equity is concerning (bottom quartile)
Operating Margin (%)Operating Margin (%) is in the bottom quartile
Profit Margin (%)Profit Margin (%) is in the bottom quartile
Return on Common Equity (%)Return on Common Equity (%) is in the bottom quartile

Health Breakdown

Profitability ↑

Returns ↑

Financial Health ↑

Cash Quality ↑

Dividend History

Dividend / share · sourced from SEC filings

$0.00 Latest / share

FY 2020

FY 2021

FY 2022

$0.00

FY 2023

$0.00

FY 2024

$0.00

FY 2025

$0.00

FY 2026

Financial view

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📈 Is growth accelerating? 3 metrics

Metric	Q4 FY2026 Jun 30, 2026 10-K ↗	Q3 FY2026 Mar 31, 2026 10-Q ↗	Q2 FY2026 Dec 31, 2025 10-Q ↗	Q1 FY2026 Sep 30, 2025 10-Q ↗	Q4 FY2025 Jun 30, 2025 10-K ↗	Q3 FY2025 Mar 31, 2025 10-Q ↗	Q2 FY2025 Dec 31, 2024 10-Q ↗	Q1 FY2025 Sep 30, 2024 10-Q ↗	Q4 FY2024 Jun 30, 2024 10-K ↗	Q4 FY2023 Jun 30, 2023 20-F ↗	Q4 FY2022 Jun 30, 2022 20-F ↗	Q4 FY2021 Jun 30, 2021 20-F ↗	Q4 FY2020 Jun 30, 2020 20-F ↗
Revenue Growth YoY (%)	-26.7% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-546%)	-0.0% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-100%)	59.0% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+884%)	355.4% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+5824%)	—	—	—	—	—	—	—	—	—
EPS Growth YoY (%)	N/M	-957.1% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	-420.0% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	N/M	—	—	—	—	—	—	—	—	—
FCF Growth YoY (%)	—	-1015.0% Weak ↓ Weak Declining Year-over-year change in free cash flow	-286.6% Weak Weak Year-over-year change in free cash flow	75.8% Excellent Excellent Year-over-year change in free cash flow	—	—	—	—	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	Q4 FY2026 Jun 30, 2026 10-K ↗	Q3 FY2026 Mar 31, 2026 10-Q ↗	Q2 FY2026 Dec 31, 2025 10-Q ↗	Q1 FY2026 Sep 30, 2025 10-Q ↗	Q4 FY2025 Jun 30, 2025 10-K ↗	Q3 FY2025 Mar 31, 2025 10-Q ↗	Q2 FY2025 Dec 31, 2024 10-Q ↗	Q1 FY2025 Sep 30, 2024 10-Q ↗	Q4 FY2024 Jun 30, 2024 10-K ↗	Q4 FY2023 Jun 30, 2023 20-F ↗	Q4 FY2022 Jun 30, 2022 20-F ↗	Q4 FY2021 Jun 30, 2021 20-F ↗	Q4 FY2020 Jun 30, 2020 20-F ↗
Operating Margin (%) (%)	-452.1% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1908%)	-161.3% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-745%)	-63.0% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-352%)	-31.8% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-227%)	9.6% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-62%)	20.2% Good ↑ Good Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-19%)	14.9% Fair Fair Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-40%)	-89.2% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-457%)	—	—	—	—	—
Effective Tax Rate (%) (%)	1.2% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	2.5% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	54.0% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	33.1% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-1.6% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-45.4% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-15.9% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	-2.5% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—	—
Profit Margin (%) (%)	-498.5% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-2366%)	—	—	—	94.3% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+329%)	-35.7% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-262%)	-44.5% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-302%)	-98.0% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-545%)	—	—	—	—	—
FCF Margin (%) (%)	351.4% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	—	-253.4% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-15.8% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	55.1% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	-35.5% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-73.6% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	-208.0% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—	—	—	—	—
FCF / Net Income (x)	-0.71x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	-2.27x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-1.22x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.10x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.58x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.99x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	1.65x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	2.12x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	—	—	—	—	—

🎯 Is capital allocation efficient? 3 metrics

Metric	Q4 FY2026 Jun 30, 2026 10-K ↗	Q3 FY2026 Mar 31, 2026 10-Q ↗	Q2 FY2026 Dec 31, 2025 10-Q ↗	Q1 FY2026 Sep 30, 2025 10-Q ↗	Q4 FY2025 Jun 30, 2025 10-K ↗	Q3 FY2025 Mar 31, 2025 10-Q ↗	Q2 FY2025 Dec 31, 2024 10-Q ↗	Q1 FY2025 Sep 30, 2024 10-Q ↗	Q4 FY2024 Jun 30, 2024 10-K ↗	Q4 FY2023 Jun 30, 2023 20-F ↗	Q4 FY2022 Jun 30, 2022 20-F ↗	Q4 FY2021 Jun 30, 2021 20-F ↗	Q4 FY2020 Jun 30, 2020 20-F ↗
Return on Invested Capital (%)	-5.2% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-8.5% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-2.1% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-1.8% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	0.7% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	3.2% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	1.6% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	-4.3% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	—	—	—	—	—
Return on Capital (%) (%)	-3.9% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-3.2% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-1.7% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-1.8% Weak Weak Operating profit relative to total assets Optimal: > 10%	0.6% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—	—	—	—	—	—	—
Return on Common Equity (%) (%)	-16.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-236%)	14.4% Fair ↑ Fair Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+20%)	15.3% Good ↑ Good Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+28%)	13.4% Fair ↑ Fair Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+11%)	9.7% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-19%)	-3.8% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-132%)	-4.2% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-135%)	-4.6% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-138%)	—	—	—	—	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	Q4 FY2026 Jun 30, 2026 10-K ↗	Q3 FY2026 Mar 31, 2026 10-Q ↗	Q2 FY2026 Dec 31, 2025 10-Q ↗	Q1 FY2026 Sep 30, 2025 10-Q ↗	Q4 FY2025 Jun 30, 2025 10-K ↗	Q3 FY2025 Mar 31, 2025 10-Q ↗	Q2 FY2025 Dec 31, 2024 10-Q ↗	Q1 FY2025 Sep 30, 2024 10-Q ↗	Q4 FY2024 Jun 30, 2024 10-K ↗	Q4 FY2023 Jun 30, 2023 20-F ↗	Q4 FY2022 Jun 30, 2022 20-F ↗	Q4 FY2021 Jun 30, 2021 20-F ↗	Q4 FY2020 Jun 30, 2020 20-F ↗
Debt to Equity (x)	1.81x Weak Weak Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+51%)	—	—	—	0.53x Good Good Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-56%)	—	—	—	—	—	—	—	—
Interest Coverage (x)	-28.89x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-54.56x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-6.90x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	—	2.37x Caution ↑ Caution Improving Operating income divided by interest expense Optimal: > 5x	1327.95x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	298.45x Excellent Excellent Operating income divided by interest expense Optimal: > 5x	-2769.76x Weak Weak Operating income divided by interest expense Optimal: > 5x	—	—	—	—	—
Net Debt (USD)	$1.70B	$-2.21B	$-3.26B	$-1.03B	$398.24M	—	—	—	$-404.60M	—	—	—	—
Debt / EBITDA (x)	-14.94x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	11.78x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—	—	—	—	—

📊 What does each share earn? 8 metrics

Metric	Q4 FY2026 Jun 30, 2026 10-K ↗	Q3 FY2026 Mar 31, 2026 10-Q ↗	Q2 FY2026 Dec 31, 2025 10-Q ↗	Q1 FY2026 Sep 30, 2025 10-Q ↗	Q4 FY2025 Jun 30, 2025 10-K ↗	Q3 FY2025 Mar 31, 2025 10-Q ↗	Q2 FY2025 Dec 31, 2024 10-Q ↗	Q1 FY2025 Sep 30, 2024 10-Q ↗	Q4 FY2024 Jun 30, 2024 10-K ↗	Q4 FY2023 Jun 30, 2023 20-F ↗	Q4 FY2022 Jun 30, 2022 20-F ↗	Q4 FY2021 Jun 30, 2021 20-F ↗	Q4 FY2020 Jun 30, 2020 20-F ↗
Revenue per Share (USD)	—	$0.43	$0.62	$0.89	—	$0.66	$0.55	$0.28	—	—	—	—	—
Basic EPS, GAAP (USD)	$-2.16	$-0.74	$-0.52	$1.42	$0.85	$-0.07	$-0.10	$-0.27	—	—	—	—	—
Free Cash Flow per Share (USD)	—	$-2.62	$-1.57	$-0.14	—	$-0.23	$-0.41	$-0.58	—	—	—	—	—
Dividend per Share (USD)	—	$0.00	$0.00	$0.00	—	$0.00	$0.00	$0.00	—	—	—	—	—
Book Value per Share (USD)	—	$7.98	$8.43	$10.63	—	$6.15	$5.92	$5.97	—	—	—	—	—
Tangible Book Value per Share (USD)	—	$7.98	$8.43	$10.63	—	$6.15	$5.92	$5.97	—	—	—	—	—
Basic Weighted Avg Shares (shares)	—	333.73M	298.03M	270.70M	—	218.66M	210.47M	189.26M	—	—	—	—	—
Dividend Payout Ratio (%)	—	0.0% Excellent → Excellent Stable Dividends paid as a percentage of earnings Optimal: 30-60%	0.0% Excellent → Excellent Stable Dividends paid as a percentage of earnings Optimal: 30-60%	0.0% Excellent → Excellent Stable Dividends paid as a percentage of earnings Optimal: 30-60%	—	0.0% Excellent → Excellent Stable Dividends paid as a percentage of earnings Optimal: 30-60%	0.0% Excellent Excellent Dividends paid as a percentage of earnings Optimal: 30-60%	0.0% Excellent Excellent Dividends paid as a percentage of earnings Optimal: 30-60%	—	—	—	—	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	Q4 FY2026 Jun 30, 2026 10-K ↗	Q3 FY2026 Mar 31, 2026 10-Q ↗	Q2 FY2026 Dec 31, 2025 10-Q ↗	Q1 FY2026 Sep 30, 2025 10-Q ↗	Q4 FY2025 Jun 30, 2025 10-K ↗	Q3 FY2025 Mar 31, 2025 10-Q ↗	Q2 FY2025 Dec 31, 2024 10-Q ↗	Q1 FY2025 Sep 30, 2024 10-Q ↗	Q4 FY2024 Jun 30, 2024 10-K ↗	Q4 FY2023 Jun 30, 2023 20-F ↗	Q4 FY2022 Jun 30, 2022 20-F ↗	Q4 FY2021 Jun 30, 2021 20-F ↗	Q4 FY2020 Jun 30, 2020 20-F ↗
Working Capital (USD)	$5.67B	$1.77B	$2.70B	$920.20M	$491.83M	—	—	—	$401.31M	—	—	—	—
LT Debt (USD)	$7.59B	—	—	—	$962.76M	—	—	—	—	—	—	—	—
Total Equity (USD)	$4.19B	$2.66B	$2.51B	$2.88B	$1.82B	$1.34B	$1.25B	$1.13B	$1.10B	—	—	—	—

📋 What is driving earnings? 4 metrics

Metric	Q4 FY2026 Jun 30, 2026 10-K ↗	Q3 FY2026 Mar 31, 2026 10-Q ↗	Q2 FY2026 Dec 31, 2025 10-Q ↗	Q1 FY2026 Sep 30, 2025 10-Q ↗	Q4 FY2025 Jun 30, 2025 10-K ↗	Q3 FY2025 Mar 31, 2025 10-Q ↗	Q2 FY2025 Dec 31, 2024 10-Q ↗	Q1 FY2025 Sep 30, 2024 10-Q ↗	Q4 FY2024 Jun 30, 2024 10-K ↗	Q4 FY2023 Jun 30, 2023 20-F ↗	Q4 FY2022 Jun 30, 2022 20-F ↗	Q4 FY2021 Jun 30, 2021 20-F ↗	Q4 FY2020 Jun 30, 2020 20-F ↗
Sales/Revenue/Turnover (USD)	$137.22M	$144.79M	$184.69M	$240.29M	$187.29M	$144.82M	$116.14M	$52.76M	—	—	—	—	—
Depreciation Expense (USD)	$112.08M	$121.25M	$99.18M	$85.23M	$63.82M	$47.31M	$36.08M	$33.93M	—	—	—	—	—
Net Income, GAAP (USD)	$-684.00M	$384.61M	$384.61M	$384.61M	$176.68M	$-51.70M	$-51.70M	$-51.70M	—	—	—	—	—
Operating Cash Flow (USD)	$1.81B	$75.32M	$71.65M	$142.35M	$103.14M	$93.10M	$53.56M	$-3.92M	—	—	—	—	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced yesterday 7 years · 13 quarters

IREN Ltd

Analytical Summary

13-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

Dividend History

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