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IREN LTD (IREN) Stock Fundamental Analysis

USA - NASDAQ:IREN - AU0000185993 - Common Stock

46.93 USD
+1 (+2.18%)
Last: 9/30/2025, 8:09:10 PM
46.35 USD
-0.58 (-1.24%)
After Hours: 9/30/2025, 8:09:10 PM
Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to IREN. IREN was compared to 281 industry peers in the Software industry. Both the profitability and financial health of IREN have multiple concerns. IREN is valued quite expensive, but it does show an excellent growth.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

IREN had positive earnings in the past year.
IREN had a negative operating cash flow in the past year.
IREN had negative earnings in 4 of the past 5 years.
IREN had a positive operating cash flow in 4 of the past 5 years.
IREN Yearly Net Income VS EBIT VS OCF VS FCFIREN Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2020 2021 2022 2023 2024 2025 0 -100M -200M -300M -400M

1.2 Ratios

IREN has a Return On Assets of -1.79%. This is comparable to the rest of the industry: IREN outperforms 53.38% of its industry peers.
The Return On Equity of IREN (-2.50%) is comparable to the rest of the industry.
Industry RankSector Rank
ROA -1.79%
ROE -2.5%
ROIC N/A
ROA(3y)-17.1%
ROA(5y)-33.96%
ROE(3y)-18.04%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
IREN Yearly ROA, ROE, ROICIREN Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2020 2021 2022 2023 2024 2025 0 50 -50 100

1.3 Margins

In the last couple of years the Operating Margin of IREN has grown nicely.
Looking at the Gross Margin, with a value of 90.12%, IREN belongs to the top of the industry, outperforming 97.51% of the companies in the same industry.
The Profit Margin and Operating Margin are not available for IREN so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 90.12%
OM growth 3Y13.98%
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
IREN Yearly Profit, Operating, Gross MarginsIREN Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2020 2021 2022 2023 2024 2025 0 -200 -400 -600

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3

2. Health

2.1 Basic Checks

IREN does not have a ROIC to compare to the WACC, probably because it is not profitable.
IREN has more shares outstanding than it did 1 year ago.
The number of shares outstanding for IREN has been increased compared to 5 years ago.
The debt/assets ratio for IREN is higher compared to a year ago.
IREN Yearly Shares OutstandingIREN Yearly Shares OutstandingYearly Shares Outstanding 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M 250M
IREN Yearly Total Debt VS Total AssetsIREN Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B 2.5B

2.2 Solvency

An Altman-Z score of 13.13 indicates that IREN is not in any danger for bankruptcy at the moment.
IREN has a Altman-Z score of 13.13. This is amongst the best in the industry. IREN outperforms 89.68% of its industry peers.
IREN has a Debt/Equity ratio of 0.00. This is a healthy value indicating a solid balance between debt and equity.
Looking at the Debt to Equity ratio, with a value of 0.00, IREN is in the better half of the industry, outperforming 68.33% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Altman-Z 13.13
ROIC/WACCN/A
WACC11.49%
IREN Yearly LT Debt VS Equity VS FCFIREN Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2020 2021 2022 2023 2024 2025 0 500M 1B 1.5B

2.3 Liquidity

IREN has a Current Ratio of 0.46. This is a bad value and indicates that IREN is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of IREN (0.46) is worse than 90.75% of its industry peers.
IREN has a Quick Ratio of 0.46. This is a bad value and indicates that IREN is not financially healthy enough and could expect problems in meeting its short term obligations.
IREN has a worse Quick ratio (0.46) than 90.04% of its industry peers.
Industry RankSector Rank
Current Ratio 0.46
Quick Ratio 0.46
IREN Yearly Current Assets VS Current LiabilitesIREN Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2020 2021 2022 2023 2024 2025 200M 400M 600M

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7

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 234.18% over the past year.
Looking at the last year, IREN shows a very strong growth in Revenue. The Revenue has grown by 167.65%.
IREN shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 196.95% yearly.
EPS 1Y (TTM)234.18%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%129.63%
Revenue 1Y (TTM)167.65%
Revenue growth 3Y103.97%
Revenue growth 5Y196.95%
Sales Q2Q%226.08%

3.2 Future

The Earnings Per Share is expected to grow by 113.25% on average over the next years. This is a very strong growth
Based on estimates for the next years, IREN will show a quite strong growth in Revenue. The Revenue will grow by 19.86% on average per year.
EPS Next Y1512.98%
EPS Next 2Y400.28%
EPS Next 3Y113.25%
EPS Next 5YN/A
Revenue Next Year117.53%
Revenue Next 2Y65.82%
Revenue Next 3Y19.86%
Revenue Next 5YN/A

3.3 Evolution

Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
IREN Yearly Revenue VS EstimatesIREN Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 2028 500M 1B
IREN Yearly EPS VS EstimatesIREN Yearly EPS VS EstimatesYearly EPS VS Estimates 2022 2023 2024 2025 2026 2027 2028 0 1 -1 -2 -3

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2

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 782.17, which means the current valuation is very expensive for IREN.
Compared to the rest of the industry, the Price/Earnings ratio of IREN indicates a slightly more expensive valuation: IREN is more expensive than 61.92% of the companies listed in the same industry.
IREN's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 27.76.
A Price/Forward Earnings ratio of 46.93 indicates a quite expensive valuation of IREN.
The rest of the industry has a similar Price/Forward Earnings ratio as IREN.
Compared to an average S&P500 Price/Forward Earnings ratio of 23.18, IREN is valued quite expensively.
Industry RankSector Rank
PE 782.17
Fwd PE 46.93
IREN Price Earnings VS Forward Price EarningsIREN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 200 400 600

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
IREN Per share dataIREN EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 -2 4

4.3 Compensation for Growth

IREN's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
IREN's earnings are expected to grow with 113.25% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.52
PEG (5Y)N/A
EPS Next 2Y400.28%
EPS Next 3Y113.25%

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0

5. Dividend

5.1 Amount

IREN does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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IREN LTD

NASDAQ:IREN (9/30/2025, 8:09:10 PM)

After market: 46.35 -0.58 (-1.24%)

46.93

+1 (+2.18%)

Chartmill FA Rating
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)08-28 2025-08-28/amc
Earnings (Next)11-24 2025-11-24/amc
Inst Owners60.92%
Inst Owner ChangeN/A
Ins Owners5%
Ins Owner Change32.85%
Market Cap12.76B
Analysts82.22
Price Target30.6 (-34.8%)
Short Float %12.01%
Short Ratio0.98
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)171.1%
Min EPS beat(2)-22.73%
Max EPS beat(2)364.93%
EPS beat(4)1
Avg EPS beat(4)-232.62%
Min EPS beat(4)-1085.5%
Max EPS beat(4)364.93%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)-3.74%
Min Revenue beat(2)-8.9%
Max Revenue beat(2)1.42%
Revenue beat(4)1
Avg Revenue beat(4)-4.4%
Min Revenue beat(4)-8.9%
Max Revenue beat(4)1.42%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)38.25%
PT rev (3m)47.24%
EPS NQ rev (1m)0%
EPS NQ rev (3m)18.02%
EPS NY rev (1m)4.15%
EPS NY rev (3m)17.5%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)3.6%
Revenue NY rev (1m)18.91%
Revenue NY rev (3m)24.19%
Valuation
Industry RankSector Rank
PE 782.17
Fwd PE 46.93
P/S 33.63
P/FCF N/A
P/OCF N/A
P/B 8.95
P/tB 8.95
EV/EBITDA N/A
EPS(TTM)0.06
EY0.13%
EPS(NY)1
Fwd EY2.13%
FCF(TTM)-2.11
FCFYN/A
OCF(TTM)-0.57
OCFYN/A
SpS1.4
BVpS5.24
TBVpS5.24
PEG (NY)0.52
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -1.79%
ROE -2.5%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 90.12%
FCFM N/A
ROA(3y)-17.1%
ROA(5y)-33.96%
ROE(3y)-18.04%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y13.98%
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score3
Asset Turnover0.19
Health
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 110.28%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 0.46
Quick Ratio 0.46
Altman-Z 13.13
F-Score3
WACC11.49%
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)234.18%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%129.63%
EPS Next Y1512.98%
EPS Next 2Y400.28%
EPS Next 3Y113.25%
EPS Next 5YN/A
Revenue 1Y (TTM)167.65%
Revenue growth 3Y103.97%
Revenue growth 5Y196.95%
Sales Q2Q%226.08%
Revenue Next Year117.53%
Revenue Next 2Y65.82%
Revenue Next 3Y19.86%
Revenue Next 5YN/A
EBIT growth 1Y194.86%
EBIT growth 3Y132.49%
EBIT growth 5YN/A
EBIT Next Year1105.18%
EBIT Next 3Y173.31%
EBIT Next 5YN/A
FCF growth 1YN/A
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1YN/A
OCF growth 3YN/A
OCF growth 5YN/A