IREN LIMITED
IREN
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Bull / bear case
Site-generated summary from fundamentals, news, and score — not investment advice. As of 2026-10-08.
- IREN Limited operates in the capital markets sector, which is poised for growth as financial services increasingly integrate technology and innovation to enhance efficiency and customer experience.
- The company's market cap stands at approximately $16.27 billion, indicating a strong presence in the financial services industry.
- Despite recent challenges, IREN's revenue for 2025 was $501.023 million, reflecting a positive turnaround from a loss in 2024.
- IREN Limited faces significant operational challenges, as evidenced by a negative operating margin of -102.5% in the latest quarter.
- The company reported a net income loss of $683.999 million for Q2 2026, highlighting ongoing financial difficulties.
- With a current ratio of 3.551, while liquidity appears strong, the overall financial health is undermined by a high debt-to-equity ratio of 187.297.
Fundamentals
| Market cap | $14.07B | Enterprise value | $16.02B | Trailing P/E | — | Forward P/E | -8.97 |
| PEG | 3.11 | Price / book | 3.24 | Beta | 4.27 | Dividend yield | 0.00% |
| Revenue growth | -26.7% | Earnings growth | — | Gross margin | 68.9% | Operating margin | -102.5% |
| Profit margin | -99.4% | ROE | -23.4% | ROA | -2.5% | Debt / equity | 1.87 |
| Current ratio | 3.55 | Free cash flow | -$4.22B | Analyst recommendation | buy | Mean target | $78.14 |
| 52w high | $76.87 | 52w low | $28.93 |
Quarterly
| 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | |
|---|---|---|---|---|---|---|
| Revenue | $137M | $145M | $185M | $240M | $187M | — |
| Op margin | -102.5% | -64.5% | -45.8% | -25.0% | 9.0% | — |
| Net income | -$684M | -$248M | -$155M | $385M | $95.5M | — |
| Gross margin | 62.3% | 64.6% | 59.8% | 62.9% | 26.9% | — |
| Gross profit | $85.4M | $93.6M | $110M | $151M | $50.5M | — |
| Operating income | -$141M | -$93.3M | -$84.7M | -$60.1M | $16.8M | — |
- Revenue -5% vs prior quarter ($137M vs $145M).
- Gross margin 62.3% (was 64.6% prior quarter).
- Operating margin compressed to -102.5%.
Yearly (6y)
| 2026 | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| Revenue | $707M | $501M | $187M | $75.5M | — |
| Op margin | -53.6% | 4.4% | -14.6% | -64.3% | — |
| Net income | -$703M | $86.9M | -$28.9M | -$172M | — |
| Gross margin | 62.3% | 63.5% | 44.6% | 28.0% | — |
| Gross profit | $441M | $318M | $83.5M | $21.1M | — |
| Operating income | -$379M | $22.1M | -$27.3M | -$48.6M | — |
No flags
• No distress or material-risk keywords in recent headlines (keyword scan only — not a guarantee).
News
2026-10-08 · Is IREN (NasdaqGS:IREN) Overvalued After Its AI Expansion Questions?
2026-10-08 · IREN Stock Drops 7.3% in Three Months: Is it Worth Investing Now?
2026-10-08 · IREN Drops 4% as SemiAnalysis Flags Its Canadian Data Centers; Core Scientific Pulls Back 2%
2026-10-08 · BC-Most Active Stocks
2026-10-08 · IREN Stock Fell 6% in a Day After SemiAnalysis Flagged Its Canadian Sites. Here’s Where the Stock Could Go
2026-10-08 · IREN Dips Further After SemiAnalysis Flags Issues With Legacy British Columbia Data Centers: Retail Mood Drops
2026-10-07 · Iren shares fall as SemiAnalysis highlights data center reliability issues
2026-10-07 · IREN Limited's Sweetwater Hub: Can It Fuel IREN's AI Expansion Plans?
2026-10-06 · Did IREN’s Pivot From Bitcoin Mining to AI Cloud Deals Just Shift IREN's (IREN) Investment Narrative?
2026-10-06 · The Only 2 Artificial Intelligence (AI) Stocks I'd Buy With $1,000 Today and Never Sell
Price (daily)
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