IREN IREN

Financial - Credit Services, Financial Services

$24.91

−2.37%

Market cap: $9.8B
PE: n/m; a loss over the last year
Forward PE: n/m; not a meaningful number
Price to sales: 13.9×
EV/EBIT: n/m; a loss over the last year
Revenue, 12 months: $707M; +41% on a year ago
Net margin: −99.4%
Free cash flow yield: −9.1%

IREN trades at 13.9× sales. Its trailing earnings are negative, so it has no PE. Revenue was $707M over the last twelve months, up 41% on a year earlier with a −99% net margin.

Charts

Financials

Income statement for IREN, by quarter
Income statement	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26	Q3 FY26	Q4 FY26
	$52.8M	$116.1M	$144.8M	$187.3M	$240.3M+355%	$184.7M+59%	$144.8M+0%	$137.2M−27%
Cost of revenue	$31.9M	$32.3M	$42M	$52.9M	$80.7M+153%	$65.8M+104%	$39.9M−5%	$33.3M−37%
Gross profit	$20.9M	$83.8M	$102.9M	$134.4M	$159.6M+664%	$118.9M+42%	$104.9M+2%	$103.9M−23%
SG&A	$25.2M	$28.9M	$29.1M	$53.3M	$138.4M+450%	$100.8M+249%	$81.8M+181%	$128.3M+141%
	−$47.1M	$17.3M	$29.2M	$17.9M	−$76.4M+62%	−$116.4M	−$233.5M	−$620.4M
Interest expense	$22K	$1.7M	$4.1M	$5.2M	$9.3M+42082%	$10.7M+520%	$14.8M+260%	$24.5M+372%
Pre-tax income	−$50.4M	−$18.9M	−$11.1M	$173.9M	$575.3M	−$337.9M+1690%	−$254.1M+2188%	−$692M
	$1.3M	$3M	$5M	−$2.8M	$190.7M+14774%	−$182.5M	−$6.3M	−$8M+188%
Net income	−$51.7M	−$21.9M	−$16.1M	$176.7M	$384.6M	−$155.4M+610%	−$247.8M+1435%	−$684M
	−$0.27	−$0.10	−$0.07	$0.71	$1.08	−$0.52+420%	−$0.74+957%	−$1.88
	189.3M	210.5M	218.7M	249M	361.7M+91%	298M+42%	333.7M+53%	363.6M+46%

Gross profit: 7 periods, Q1 FY25 to Q4 FY26: not printed by the filing, worked out from its own lines.

EPS, diluted: Q4 FY25 and Q4 FY26: quarter's net income to common over its shares, to the cent.

Diluted shares: Q4 FY25: the earlier year to date counted no dilution: the quarter's basic count plus the later year to date's dilution. Q4 FY26: a loss quarter: its basic count, share-days: the 12-month average less the 9-month, weighted by days.

From each company's 10-Q and 10-K filings, the newest version of each figure. Quarters are as filed (a fourth quarter is the year less its first nine months), fiscal years as the 10-K prints them, restated where a later 10-K restated them, and balance sheet lines as of the period's end. A quarter whose 10-Q isn't filed yet is from the company's results release. Growth is on the same period a year earlier. A dash is a period with no figure for the line: the filing doesn't print it, or it hasn't been read yet.

Peers

Companies in Financial - Credit Services nearest IREN's size, closest first.

Company	Market cap	PE	Its 10y median PE	P/S	Revenue growth	Net margin
IRENIREN	$9.8B	n/m	86.1×	13.9×	+41%	−99.4%
HQYHealthequity	$8.6B	37.7×	78.2×	6.3×	+7%	17.4%
ETSYEtsy	$8B	53.3×	50.6×	2.8×	+4%	7.3%
ZGZillow	$7.7B	155×	154×	2.7×	+18%	2.0%
CARTMaplebear	$13.1B	31.0×	25.9×	3.3×	+13%	12.0%
CSGPCostar	$13.7B	179×	91.9×	3.9×	+22%	2.1%
WEXWEX	$6.7B	19.7×	42.8×	2.4×	+7%	12.6%
EXLSExlService	$6.4B	26.6×	34.7×	2.9×	+14%	11.2%
OMFOneMain	$6.4B	8.4×	9.1×	1.3×	+8%	15.4%
RBARB Global	$15.6B	36.1×	41.8×	3.2×	+10%	10.0%
CACCCredit Acceptance	$5.7B	12.0×	14.0×	2.4×	+3%	21.5%
Peer median	$7.8B	33.6×	42.3×	2.8×	+9%	11.6%