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IREN Limited

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Key Metrics

Previous Close: $42.84
52-Week Range: $18.87 – $76.87
Market Cap: $15.22B
P/E (TTM): 55.32
EPS (TTM): 0.77
Dividend Yield: —

Advanced Metrics

Price/Book: 5.45
PEG Ratio: 3.11
Return on Equity: 7.73%
Return on Assets: -3.00%
Gross Margin: 68.40%
Operating Margin: -64.47%
Profit Margin: 20.88%
Current Ratio: 3.72
Debt/Equity: 1.49
Total Debt: $3.96B
Free Cash Flow: $-2.31B
Revenue Growth: 0.00%
Earnings Growth: —
Enterprise Value: $16.98B

IREN Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$59.04M	$75.51M	$187.19M	$501.02M
Cost of Revenue	$7.45M	$54.39M	$105.07M	$158.99M
Gross Profit	$51.59M	$21.12M	$82.12M	$342.03M
Selling, General & Admin	$26.07M	$33.18M	$50.03M	$127.22M
Operating Expenses	$51.13M	$69.68M	$109.39M	$319.91M
Operating Income	$462.00K	-$48.56M	-$27.28M	$22.12M
EBITDA	$16.14M	-$122.56M	$25.10M	$285.68M
Pretax Income	-$417.05M	-$169.44M	-$25.47M	$93.50M
Income Tax	$2.72M	$2.39M	$3.45M	$6.56M
Net Income	-$419.77M	-$171.83M	-$28.92M	$86.94M
Diluted EPS	-10.25	-3.14	-0.29	0.34
Diluted Shares	40.94M	54.78M	99.64M	258.10M

IREN Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$109.97M	$68.89M	$404.60M	$564.53M
Receivables	$23.65M	$6.54M	$29.37M	$24.98M
Current Assets	$160.25M	$89.23M	$452.38M	$641.17M
Total Assets	$570.46M	$332.07M	$1.15B	$2.94B
Current Liabilities	$85.11M	$24.00M	$51.07M	$149.35M
Long-Term Debt	$46.62M	—	—	$962.76M
Total Debt	$108.29M	$1.45M	$1.32M	$964.23M
Total Liabilities	$133.10M	$26.71M	$55.35M	$1.12B
Retained Earnings	-$482.40M	-$654.28M	-$683.11M	-$596.17M
Shareholders' Equity	$437.36M	$305.36M	$1.10B	$1.82B
Working Capital	$75.15M	$65.23M	$401.31M	$491.83M
Net Debt	—	—	—	$398.24M

IREN Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$37.48M	$5.73M	$52.22M	$245.89M
Capital Expenditure	-$294.25M	-$116.06M	-$479.91M	-$1.37B
Free Cash Flow	-$331.73M	-$110.33M	-$427.69M	-$1.13B
Depreciation & Amortisation	$7.74M	$30.67M	$50.47M	$181.14M
Stock-Based Compensation	$13.90M	$14.36M	$23.64M	$42.64M
Investing Cash Flow	-$259.08M	-$71.47M	-$498.47M	-$1.38B
Financing Cash Flow	$372.04M	$28.56M	$782.63M	$1.29B
Net Change in Cash	$75.48M	-$37.18M	$336.38M	$160.13M

IREN Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$144.82M	$187.29M	$240.29M	$184.69M	$144.79M
Cost of Revenue	$46.91M	$136.82M	$89.04M	$74.32M	$51.23M
Gross Profit	$97.92M	$50.47M	$151.26M	$110.38M	$93.57M
Selling, General & Admin	$21.81M	$93.25M	$94.10M	$81.52M	$60.54M
Operating Expenses	$70.23M	$33.66M	$211.39M	$195.03M	$186.92M
Operating Income	$27.69M	$16.80M	-$60.13M	-$84.66M	-$93.35M
EBITDA	$40.32M	$153.13M	$669.80M	-$228.08M	-$118.00M
Pretax Income	-$11.11M	$92.79M	$575.30M	-$337.93M	-$254.09M
Income Tax	$5.04M	-$2.76M	$190.69M	-$182.52M	-$6.26M
Net Income	-$16.14M	$95.55M	$384.61M	-$155.41M	-$247.83M
Diluted EPS	-0.07	0.69	1.08	-0.52	-0.74
Diluted Shares	218.66M	258.10M	361.68M	331.76M	333.73M

IREN Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$184.33M	$564.53M	$1.03B	$3.26B	$2.21B
Receivables	$21.01M	$24.98M	$35.49M	$47.40M	$114.76M
Current Assets	$255.91M	$641.17M	$1.12B	$3.38B	$2.42B
Total Assets	$1.99B	$2.94B	$4.27B	$7.03B	$7.26B
Current Liabilities	$553.11M	$149.35M	$203.75M	$682.13M	$651.36M
Long-Term Debt	—	$962.76M	$964.21M	$3.69B	$3.69B
Total Debt	$324.07M	$964.23M	$965.63M	$3.84B	$3.96B
Total Liabilities	$564.19M	$1.12B	$1.39B	$4.52B	$4.60B
Retained Earnings	-$691.84M	-$596.17M	-$211.56M	-$366.96M	-$614.79M
Shareholders' Equity	$1.43B	$1.82B	$2.88B	$2.51B	$2.66B
Working Capital	-$297.20M	$491.83M	$920.20M	$2.70B	$1.77B
Net Debt	$138.15M	$398.24M	—	$424.71M	$1.47B

IREN Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$93.10M	—	$142.35M	$71.65M	$75.32M
Capital Expenditure	-$443.80M	-$357.87M	-$280.61M	-$836.86M	-$1.36B
Free Cash Flow	-$350.70M	$49.22M	-$138.26M	-$765.20M	-$1.28B
Depreciation & Amortisation	$47.31M	—	$85.23M	$99.18M	$121.25M
Stock-Based Compensation	$7.77M	—	$72.41M	$58.23M	$31.49M
Investing Cash Flow	-$442.88M	-$674.48M	-$280.88M	-$850.95M	-$1.48B
Financing Cash Flow	$107.13M	$646.27M	$606.14M	$3.01B	$355.03M
Net Change in Cash	-$242.65M	$378.89M	$467.61M	$2.23B	-$1.05B

Market Snapshot

About

IREN Limited is a bitcoin mining company that focuses on sustainable cryptocurrency production using renewable energy sources. The company operates data centers equipped with specialized mining hardware to validate bitcoin transactions and secure the blockchain network. IREN emphasizes environmental sustainability by utilizing low-carbon energy and capturing stranded energy resources. The company aims to build scalable, efficient bitcoin mining operations while maintaining a focus on energy innovation and responsible resource utilization.