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IREN stock logo

IREN

IREN Limited

$46.68
3.2
 (7.36%)
Exchange:  NASDAQ
Market Cap:  16.658B
Shares Outstanding:  16.297M
Delayed data
Calculate IREN Intrinsic Value
5-year outlook →
Overview
Earnings
Financials
Valuation
Chart

About The Company

Sector:  TechnologyView sector performance
Industry:  Information Technology ServicesView industry performance
   
CEO:  William Roberts
Full Time Employees:  685
Address: 
55 Market Street
Sydney
NSW
2000
AU
Website:  https://iren.com
IREN Limited, established in 2018 and based in Sydney, Australia, operates a comprehensive, vertically integrated data center business spanning Australia and Canada. The company possesses and manages all essential infrastructure, including its computing hardware, electrical systems, and the data center facilities themselves. A primary undertaking for IREN Limited is the mining of Bitcoin, a scarce digital asset created and exchanged via a decentralized, peer-to-peer computer network utilizing specialized Bitcoin software. The company was previously named Iris Energy Limited, officially adopting IREN Limited in November 2024.

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Revenue Segmentation

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IREN full analysis

15/05/2026

Hey everyone, welcome back to the channel. Today we're diving deep into IREN Limited, the company that's transforming from a Bitcoin miner into a major player in AI data center infrastructure. With that massive Nvidia partnership just announced and a huge convertible notes deal funding the buildout, this stock has been on a wild ride, and there's a lot to unpack for long-term investors. IREN has secured an impressive 5 gigawatts of power capacity across sites in Texas, British Columbia,…

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Industry Peers

TICKERCOMPANYMKT CAPP/EFWD P/EROIC
IRIREN logoIRENIREN Limited16.7B—42.4-7.5%
WIWIT logoWITWipro Limited16.4B13.312.910.7%
LDLDOS logoLDOSLeidos Holdings, Inc.16.1B11.910.814.4%
FIFIS logoFISFidelity National Information Services…18.4B5.85.64.6%
GIGIB logoGIBCGI Inc.14.8B12.010.616.0%
CDCDW logoCDWCDW Corporation18.7B18.413.412.6%

EPS

Historical EPS and analyst estimates in one chart. Log in for the full interactive view and links to detailed estimates.

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View full analyst estimates

Earnings Call

Full text

Earnings transcript

Read the complete earnings call transcript.

AI summary

Key takeaways

Short, structured highlights from the call so you can focus on what matters.

2025/11/07 — Q1 quarter 2026

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Income Statement
Balance Sheet
Cash Flow Statement
Analyst Estimates

Income Statement

Year202420252026
Revenue187,192501,023707,000
Gross Profit82,118342,031487,300
EBITDA25,101285,68234,700
Operating Income-27,27722,122-1,046,714
Net Income-28,92086,941-702,600

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(* All numbers are in thousands)

Balance Sheet

Year202420252026
Total Assets1,153,0332,940,32315,790,039
Total Liabilities55,6821,122,83511,604,426
Total Stockholders Equity1,097,3511,817,4884,185,613
Total Debt1,655964,232415,952
Cash and Cash Equivalents404,601564,5265,895,591

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(* All numbers are in thousands)

Cash Flow Statement

Year202420252026
Operating Cash Flow52,716245,8862,100,418
Capital Expenditure-479,909-1,372,6270
Free Cash Flow-427,193-1,126,7412,100,418
Net Income-28,95586,9410
Net Change in Cash335,707159,9257,055,001

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(* All numbers are in thousands)

Analyst Estimates

Fiscal Year2030Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (Low)17,365,156.570Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (High)39,690,891.795Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (Avg)26,194,884.600Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (Low)9,063,790.234Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (High)9,569,227.128Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (Avg)9,263,688.105Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (Low)202,461.068Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (High)601,756.214Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (Avg)360,380.386Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (Low)7,076,215.333Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (High)16,173,841.911Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (Avg)10,674,285.793Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (Avg)1.140Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (High)1.900Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (Low)0.640Research AccessResearch AccessResearch AccessResearch Access
Number of Analysts (Estimated Revenue)2Research AccessResearch AccessResearch AccessResearch Access
Number of Analysts (Estimated EPS)1Research AccessResearch AccessResearch AccessResearch Access

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(* All numbers are in thousands)

Current Key Metrics

?Revenue
 (TTM)
: 
187.192M  ?P/S
 (TTM)
: 
22.12
?Net Income
 (TTM)
: 
-28955000  ?P/E
 (TTM)
: 
-24.08
?Enterprise Value
 (TTM)
: 
17.585B  ?EV/FCF
 (TTM)
: 
-8.84
?Dividend Yield
 (TTM)
: 
0%  ?Payout Ratio
 (TTM)
: 
0%
?ROE
 (TTM)
: 
-22.97%  ?ROIC
 (TTM)
: 
-7.49%
?Net Debt
 (TTM)
: 
-453879000  ?Debt/Equity
 (TTM)
: 
1.87
?P/B
 (TTM)
: 
3.79  ?Current Ratio
 (TTM)
: 
3.55

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Forward P/E Ratios

?

Forward P/E (Avg EPS estimate) — log in with Research Access for high/low estimates and the interactive table.

Forward P/E 1YResearch AccessResearch AccessResearch AccessResearch Access
42.44Research AccessResearch AccessResearch AccessResearch Access

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SWOT Analysis

Strengths (preview)

  • Record NPAT of $18.9 million in Q2 FY2025 demonstrates improved profitability and operational execution in Bitcoin mining combined with AI infrastructure.
  • Established infrastructure supports dual revenue streams from Bitcoin mining and AI demand, providing diversification within a high-growth sector.
  • Active risk management and strategic initiatives position the company to capitalize on expanding infrastructure needs without immediate liquidity shortfalls.

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At what price to buy it? -
Intrinsic Value Calculator

This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.

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Common questions about IREN valuation

Is IREN Limited (IREN) overvalued or undervalued right now?

MARKETSnap estimates intrinsic value for IREN Limited (IREN) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.

Is IREN a buy, hold, or sell for long-term investors?

MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether IREN trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.

What is IREN’s P/E ratio?

You can see IREN’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.

How is intrinsic value calculated for IREN?

MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.

Is IREN a good long-term investment?

Whether IREN fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.

IREN

1-day price chart preview. Log in for 1W through 5Y ranges and period tabs.

Daily snapshot

7.36
MARKETSnap

Trading Metrics:

Open: 44.73   Previous Close: 43.48
Day Low: 43.36   Day High: 46.73
Year Low: 28.93   Year High: 76.87
Price Avg 50: 40.28   Price Avg 200: 45.55
Volume: 45.283M   Average Volume: 45.93M

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See in Nexus

Relevant news

Cipher Digital Surges 9% on Conditional ERCOT Status for 3.2 GW of Texas Capacity; Core Scientific Rises 4%, IREN Nudges Higher
16-09-2026 10:00
Cipher Digital Surges 9% on Conditional ERCOT Status for 3.2 GW of Texas Capacity; Core Scientific Rises 4%, IREN Nudges Higher
AI Infrastructure: The Trillion-Dollar Market Growing Behind the AI Revolution
15-09-2026 09:10
AI Infrastructure: The Trillion-Dollar Market Growing Behind the AI Revolution
IREN, Nebius, CoreWeave:  Here's why these neocloud stocks are falling
14-09-2026 09:29
IREN, Nebius, CoreWeave:  Here's why these neocloud stocks are falling
IREN's Latest Deal Just Became More Than a Promise
14-09-2026 09:15
IREN's Latest Deal Just Became More Than a Promise
Could IREN Become the Next Nvidia-Backed AI Winner?
09-09-2026 14:30
Could IREN Become the Next Nvidia-Backed AI Winner?
IREN Jumps 23% as Its AI Business Starts to Take Over the Story
07-09-2026 14:24
IREN Jumps 23% as Its AI Business Starts to Take Over the Story

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