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Mar 4, 2026·SEC
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Feb 5, 2026·SEC
IREN Limited(IREN)Earnings, Financials & Key Ratios
IREN•NASDAQ•Banking & Credit
$54.74
$18.19B mkt cap·140.4× P/E·Price updated May 6, 2026
AboutIREN 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.Show more
- Net Interest Income-$4M-161.8%
- Total Revenue$501M+167.7%
- Net Income$87M+400.6%
- Return on Equity5.97%+244.7%
- Net Interest Margin-0.12%-124.2%
- Efficiency Ratio64.81%-4.7%
- ROA4.25%+209.1%
- Equity / Assets61.81%-35.1%
- Book Value per Share8.14-26.1%
- Tangible BV/Share8.14-26.1%
- Debt/Equity0.53+35081.0%
IREN Key Insights
IREN Limited (IREN) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Momentum leader: RS Rating 80 (top 20%)
- ✓Well capitalized: 61.8% equity/assets
- ✓Diversified revenue: 98.5% from non-interest income
✗Weaknesses
- ✗Weak NIM of -0.1%
- ✗Shares diluted 100.0% in last year
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
IREN Price & Volume
IREN Limited (IREN) stock price & volume — 10-year historical chart
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IREN Growth Metrics
IREN Limited (IREN) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years196.84%
3 Years103.98%
TTM-
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM68.64%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM479%
Return on Capital
10 Years-13.15%
5 Years-10.78%
3 Years-17.32%
Last Year0.89%
IREN Recent Earnings
IREN Limited (IREN) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 4/12 qtrs (33%)●Beat Revenue 4/12 qtrs (33%)
Q1 2026Latest
Feb 5, 2026EPS
$0.44
Est $0.24
-82.0%
Revenue
$185M
Est $227M
-18.8%
Q4 2025
Nov 6, 2025EPS
$0.34
Est $0.15
-326.8%
Revenue
$240M
Est $241M
-0.5%
Q3 2025
Aug 28, 2025EPS
$0.08
Est $0.18
-54.7%
Revenue
$187M
Est $189M
-0.9%
Q2 2025
May 14, 2025EPS
$0.11
Est $0.17
-35.3%
Revenue
$145M
Est $172M
-15.8%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 5, 2026 | $0.44vs $0.24-82.0% | $185Mvs $227M-18.8% |
| Q4 2025 | Nov 6, 2025 | $0.34vs $0.15-326.8% | $240Mvs $241M-0.5% |
| Q3 2025 | Aug 28, 2025 | $0.08vs $0.18-54.7% | $187Mvs $189M-0.9% |
| Q2 2025 | May 14, 2025 | $0.11vs $0.17-35.3% | $145Mvs $172M-15.8% |
Based on last 12 quarters of dataView full earnings history →
IREN Peer Comparison
IREN Limited (IREN) competitors in Bitcoin Mining and Data Centers — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 RIOT | 7.71B | 20.35 | -10.43 | 71.89% | -102.43% | -28.78% | 0.10 | |
 MARA | 4.62B | 12.16 | -3.30 | 38.2% | -144.58% | -30.54% | 1.05 | |
 CLSK | 3.43B | 13.41 | 11.97 | 102.21% | -33.25% | -13.75% | 0.38 | |
 CIFR | 8.97B | 22.10 | -10.28 | 48.04% | -367.17% | -115.53% | 3.31 | |
 HUT | 8.86B | 80.50 | -37.61 | 44.79% | -96.19% | -13.39% | 0.25 | |
 BTBT | 576.6M | 1.79 | 8.95 | 264.59% | 17.29% | 21.41% | 0.03 | |
 CORZ | 6.97B | 22.19 | -25.22 | -37.53% | -90.47% | |||
 BTDR | 2.35B | 12.48 | -8.73 | 77.33% | 10.58% | 7.56% | 1.27 |
Compare IREN vs Peers
IREN Limited (IREN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
IREN Income Statement
IREN Limited (IREN) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Jun'19 | Jun'20 | Jun'21 | Jun'22 | Jun'23 | Jun'24 | Jun'25 | TTM |
|---|---|---|---|---|---|---|---|---|
| Net Interest Income | 1.05K | -101.23K | -45.63M | -308.47M | -15.44M | 5.73M | -3.54M | -11.59M |
| NII Growth % | - | -9713.11% | -44976.05% | -576.04% | 94.99% | 137.13% | -161.77% | -850.24% |
| Net Interest Margin % | 0.06% | -0.87% | -45.2% | -78.64% | -4.65% | 0.5% | -0.12% | -0.16% |
| Interest Income | 1.5K | 2.68K | 4.47K | 57.29K | 924K | 5.83M | 7.5M | 26.53M |
| Interest Expense | 0 | 103.91K | 45.63M | 308.53M | 16.36M | 98K | 11.04M | 22.35M |
| Loan Loss Provision | 1.05K | 816.09K | -43.41M | -301.08M | 23.06M | 86.97M | 147.95M | 276.74M |
| Non-Interest Income | -447 | 2.17M | 7.89M | 58.98M | 74.58M | 181.36M | 493.52M | 733.85M |
| Non-Interest Income % | -42.45% | 99.88% | 99.94% | 99.9% | 98.78% | 96.89% | 98.5% | 96.51% |
| Total Revenue | 1.05K▲ 0% | 2.17M▲ 206357.7% | 7.9M▲ 263.3% | 59.04M▲ 647.5% | 75.51M▲ 27.9% | 187.19M▲ 147.9% | 501.02M▲ 167.7% | 760.38M▲ 0% |
| Revenue Growth % | - | 206357.74% | 263.29% | 647.49% | 27.9% | 147.91% | 167.65% | 806.17% |
| Non-Interest Expense | 112.68K | 2.93M | 6.2M | 51.28M | 193.33M | 127.36M | 324.7M | 479.45M |
| Efficiency Ratio | 10700.76% | 134.77% | 78.51% | 86.86% | 256.04% | 68.04% | 64.81% | 63.05% |
| Operating Income | -112.68K▲ 0% | -1.68M▼ 1387.4% | -524K▲ 68.7% | 307K▲ 158.6% | -157.24M▼ 51318.6% | -27.23M▲ 82.7% | 17.33M▲ 163.6% | -34.51M▲ 0% |
| Operating Margin % | -10700.76% | -77.09% | -6.63% | 0.52% | -208.24% | -14.55% | 3.46% | -4.54% |
| Operating Income Growth % | - | -1387.41% | 68.74% | 158.59% | -51318.57% | 82.68% | 163.62% | - |
| Pretax Income | -161.12K▲ 0% | -2.14M▼ 1229.4% | -59.15M▼ 2661.5% | -417.05M▼ 605.1% | -169.44M▲ 59.4% | -25.47M▲ 85.0% | 93.5M▲ 467.1% | 359.43M▲ 0% |
| Pretax Margin % | -15301.04% | -98.53% | -748.94% | -706.41% | -224.39% | -13.6% | 18.66% | 47.27% |
| Income Tax | 0 | 0 | 1.24M | 2.72M | 2.39M | 3.45M | 6.56M | 375.49M |
| Effective Tax Rate % | 0% | 0% | -2.09% | -0.65% | -1.41% | -13.56% | 7.02% | 104.47% |
| Net Income | -161.12K▲ 0% | -2.14M▼ 1229.4% | -60.39M▼ 2719.3% | -419.77M▼ 595.1% | -171.83M▲ 59.1% | -28.92M▲ 83.2% | 86.94M▲ 400.6% | -16.06M▲ 0% |
| Net Margin % | -15301.04% | -98.53% | -764.62% | -711.03% | -227.56% | -15.45% | 17.35% | -2.11% |
| Net Income Growth % | - | -1229.44% | -2719.33% | -595.1% | 59.07% | 83.17% | 400.63% | 68.64% |
| Net Income (Continuing) | -161.12K | -2.14M | -60.39M | -419.77M | -171.83M | -28.92M | 86.94M | -16.06M |
| EPS (Diluted) | -0.01▲ 0% | -0.04▼ 290.9% | -1.07▼ 2664.9% | -10.25▼ 857.9% | -3.14▲ 69.4% | -0.29▲ 90.8% | 0.39▲ 234.5% | -0.05▲ 0% |
| EPS Growth % | - | - | -2664.86% | -857.94% | 69.37% | 90.76% | 234.48% | 479% |
| EPS (Basic) | -0.01 | -0.04 | -1.14 | -10.25 | -3.14 | -0.29 | 0.41 | - |
| Diluted Shares Outstanding | 16.3M | 55.04M | 56.72M | 40.94M | 54.78M | 99.64M | 223.25M | 298.03M |
IREN Balance Sheet
IREN Limited (IREN) balance sheet — assets, liabilities & shareholders' equity
| Line item | Jun'19 | Jun'20 | Jun'21 | Jun'22 | Jun'23 | Jun'24 | Jun'25 | TTM |
|---|---|---|---|---|---|---|---|---|
| Cash & Short Term Investments | 84.95K | 1.96M | 29.27M | 75.62M | 68.89M | 411.13M | 564.53M | 5.05B |
| Cash & Due from Banks | 84.95K | 1.96M | 29.27M | 75.62M | 68.89M | 404.6M | 564.53M | 3.26B |
| Short Term Investments | 0 | 0 | 0 | 0 | 0 | 6.53M | 0 | 0 |
| Total Investments | 0 | 0 | 0 | 0 | 0 | 6.53M | 333.72M | 0 |
| Investments Growth % | - | - | - | - | - | - | 5010.52% | 6165.76% |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 333.72M | 1.36B |
| Accounts Receivables | 0 | 0 | 0 | 0 | 0 | 152K | 1.56M | 9.61M |
| Goodwill & Intangibles | 0 | 568K | 494.74K | 435.97K | 0 | 0 | 0 | 107.57M |
| Goodwill | 0 | 568K | 494.74K | 435.97K | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 107.57M |
| PP&E (Net) | 1.4M | 8.44M | 13.02M | 171.1M | 242.48M | 442.92M | 1.94B | 3.17B |
| Other Assets | 253.44K | 0 | 56.4M | 109.01M | 360K | 257.73M | 30.33M | 364.8M |
| Total Current Assets | 207.81K | 2.57M | 30.35M | 110.2M | 89.23M | 452.39M | 641.17M | 3.38B |
| Total Non-Current Assets | 1.65M | 9M | 70.6M | 282.08M | 242.84M | 700.65M | 2.3B | 3.64B |
| Total Assets | 1.86M▲ 0% | 11.57M▲ 522.3% | 100.95M▲ 772.3% | 392.28M▲ 288.6% | 332.07M▼ 15.3% | 1.15B▲ 247.2% | 2.94B▲ 155.0% | 7.03B▲ 0% |
| Asset Growth % | - | 522.29% | 772.3% | 288.58% | -15.35% | 247.22% | 155.01% | 842.5% |
| Return on Assets (ROA) | -8.66% | -31.89% | -107.34% | -170.21% | -47.44% | -3.89% | 4.25% | -0.23% |
| Accounts Payable | 17.55K | 751K | 409.16K | 9.1M | 11.54M | 27.35M | 81.75M | 0 |
| Total Debt | 32.29K | 1.96M | 62.93M | 74.46M | 1.45M | 1.66M | 964.23M | 3.84B |
| Net Debt | -52.65K | 5K | 33.66M | -1.16M | -67.45M | -402.95M | 399.71M | 581.96M |
| Long-Term Debt | 0 | 0 | 8.14M | 32.06M | 1.26M | 1.03M | 962.76M | 3.78B |
| Short-Term Debt | 32.29K | 1.96M | 54.04M | 41.59M | 192K | 289K | 404K | 62.26M |
| Other Liabilities | 0 | 0 | 0 | 0 | -1.17M | -913K | 1.69M | 45.91M |
| Total Current Liabilities | 109.52K | 2.75M | 127.98M | 58.52M | 24M | 51M | 149.35M | 682.13M |
| Total Non-Current Liabilities | 0 | 0 | 10.1M | 33M | 2.71M | 4.68M | 973.49M | 3.83B |
| Total Liabilities | 109.52K | 2.75M | 138.08M | 91.52M | 26.71M | 55.68M | 1.12B | 4.52B |
| Total Equity | 1.75M▲ 0% | 8.82M▲ 403.8% | -37.13M▼ 521.0% | 300.75M▲ 910.0% | 305.36M▲ 1.5% | 1.1B▲ 259.4% | 1.82B▲ 65.6% | 2.51B▲ 0% |
| Equity Growth % | - | 403.83% | -521.04% | 910.05% | 1.53% | 259.36% | 65.63% | 425.98% |
| Equity / Assets (Capital Ratio) | 94.11% | 76.19% | -36.78% | 76.67% | 91.96% | 95.17% | 61.81% | 35.73% |
| Return on Equity (ROE) | -9.21% | -40.54% | - | -318.46% | -56.7% | -4.12% | 5.97% | -0.64% |
| Book Value per Share | 0.11 | 0.16 | -0.65 | 7.35 | 5.57 | 11.01 | 8.14 | 8.43 |
| Tangible BV per Share | 0.11 | 0.15 | -0.66 | 7.34 | 5.57 | 11.01 | 8.14 | 8.07 |
| Common Stock | 1.86M | 10.34M | 7.76M | 637.16M | 965.86M | 1.76B | 2.36B | 4.67B |
| Additional Paid-in Capital | 0 | 0 | 0 | 0 | 0 | 51.29M | 88.67M | 0 |
| Retained Earnings | -107.41K | -2.25M | 0 | 0 | 0 | -683.23M | -596.17M | -366.96M |
| Accumulated OCI | 0 | 725K | -44.89M | -336.41M | -660.5M | -34.99M | -30.07M | -32.29M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
IREN Cash Flow Statement
IREN Limited (IREN) cash flow — operating, investing & free cash flow history
| Line item | Jun'19 | Jun'20 | Jun'21 | Jun'22 | Jun'23 | Jun'24 | Jun'25 | TTM |
|---|---|---|---|---|---|---|---|---|
| Cash from Operations | -434.92K | -987K | 1.31M | 21.56M | 5.73M | 52.72M | 245.89M | 245.89M |
| Operating CF Growth % | - | -126.94% | 233.09% | 1541.05% | -73.42% | 820.16% | 366.44% | 4207.41% |
| Net Income | -161.12K | -2.14M | -45.05M | -419.77M | -171.83M | -28.95M | 86.94M | -16.06M |
| Depreciation & Amortization | 0 | 757K | 933.92K | 7.74M | 31.71M | 50.65M | 181.14M | 63.8M |
| Deferred Taxes | 0 | -1.53M | 527.38K | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 108.47K | 1.53M | 44.42M | 419.87M | 136.32M | -4.36M | -59.4M | 346.88M |
| Working Capital Changes | -382.27K | 219K | 477.4K | -181K | 9.53M | 11.75M | -5.44M | -22.78M |
| Cash from Investing | -2.28M | -4.49M | -60.69M | -318.12M | -71.47M | -498.47M | -1.38B | -2.12B |
| Purchase of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Sale/Maturity of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 470K | 0 |
| Net Investment Activity | 0 | 0 | 0 | 0 | 0 | 0 | 470K | 0 |
| Acquisitions | 0 | 0 | 1.49K | 0 | 0 | 0 | 0 | 1000K |
| Other Investing | -182.18K | -158.88K | -55.25M | -23.87M | 44.6M | -18.56M | -8.33M | -1.3B |
| Cash from Financing | 2.83M | 7.31M | 88.04M | 372.04M | 28.56M | 782.13M | 1.29B | 4.38B |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | -302.34K | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Issued | 0 | 2.79M | 78.82M | 215.33M | 38.24M | 783.57M | 602.68M | -216.56M |
| Net Stock Activity | 0 | 2.49M | 78.82M | 215.33M | 38.24M | 783.57M | 602.68M | -216.56M |
| Debt Issuance (Net) | 0 | 0 | 1000K | 1000K | -1000K | 6K | 1000K | 554K |
| Other Financing | 2.83M | 4.82M | -25.36K | 103.63M | -250K | -503K | -9.16M | 3.6B |
| Net Change in Cash | 127.42K▲ 0% | 2.35M▲ 1743.2% | 27.31M▲ 1062.8% | 70.98M▲ 159.9% | -41.08M▼ 157.9% | 335.71M▲ 917.3% | 159.93M▼ 52.4% | 2.83B▲ 0% |
| Exchange Rate Effect | 7.37K | 518.74K | -1000K | -1000K | -1000K | -672K | -209K | 863K |
| Cash at Beginning | 54.08K | -3.34M | 1.96M | 38.99M | 109.97M | 68.89M | 404.6M | 1.03B |
| Cash at End | 181.5K | -987K | 29.27M | 109.97M | 68.89M | 404.6M | 564.53M | 3.26B |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Income Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -2.53M▲ 0% | -5.32M▼ 110.1% | -4.13M▲ 22.4% | -272.69M▼ 6499.8% | -110.02M▲ 59.7% | -427.19M▼ 288.3% | -1.13B▼ 163.8% | -259.56M▲ 0% |
| FCF Growth % | - | -110.15% | 22.37% | -6499.8% | 59.65% | -288.29% | -163.75% | 74.54% |
IREN Banking Ratios
IREN Limited (IREN) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -40.54% | - | -318.46% | -56.7% | -4.12% | 5.97% | -0.64% |
| Return on Assets (ROA) | -31.89% | -107.34% | -170.21% | -47.44% | -3.89% | 4.25% | -0.23% |
| Net Interest Margin | -0.87% | -45.2% | -78.64% | -4.65% | 0.5% | -0.12% | -0.16% |
| Efficiency Ratio | 134.77% | 78.51% | 86.86% | 256.04% | 68.04% | 64.81% | 63.05% |
| Equity / Assets | 76.19% | -36.78% | 76.67% | 91.96% | 95.17% | 61.81% | 35.73% |
| Book Value / Share | 0.16 | -0.65 | 7.35 | 5.57 | 11.01 | 8.14 | 8.43 |
| NII Growth | -9713.11% | -44976.05% | -576.04% | 94.99% | 137.13% | -161.77% | -735.64% |
| Dividend Payout | - | - | - | - | - | - | 0% |
IREN SEC Filings & Documents
IREN Limited (IREN) SEC filings — annual & quarterly reports (10-K, 10-Q)
IREN Frequently Asked Questions
IREN Limited (IREN) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
IREN Limited (IREN) grew revenue by 167.7% over the past year. This is strong growth.
IREN Limited (IREN) reported a net loss of $16.1M for fiscal year 2025.
Dividend & Returns
IREN Limited (IREN) has a return on equity (ROE) of 6.0%. This is below average, suggesting room for improvement.
Industry Metrics
IREN Limited (IREN) has a net interest margin (NIM) of -0.1%. NIM has been under pressure due to interest rate environment.
IREN Limited (IREN) has an efficiency ratio of 64.8%. This is reasonable for a bank.
Explore More IREN
IREN Limited (IREN) financial analysis — history, returns, DCA and operating performance tools
Full IREN Stock Analysis
Analyst verdict, bull/bear case, risk factors and peer comparison
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
Dollar cost averaging vs lump sum
Dividend History
Yield, growth, payout safety & DRIP
Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates