NASDAQ: IREN
IREN Limited
Financial Services · Financial - Capital Markets
After hours: $60.03(+0.12%) · as of 7:59 PM ET
Market Cap
$21.40B
52w High
$76.87
52w Low
$9.83
P/E
176.30
Volume
37.97M
Outstanding Shares
356.86M
Price vs Fundamentals
Why The Stock Is Moving
What changed
The stock rose 511.84% over the last year. Revenue grew 104.32% over the trailing twelve months. Operating margin moved from -6.51% to -29.24%. Free cash flow grew 46.52% over the trailing twelve months.
What the market seems to be pricing
The stock is trading toward the richer end of its historical P/S range (89th percentile) while business metrics are improving. More of the upside is already embedded in the multiple now.
What would invalidate this read
Operating margin is at -29.24% — continued expansion would be needed to justify the premium. Revenue growth of 104.32% is encouraging, but any deceleration puts the stretched multiple at risk. This read changes if revenue, margins, and cash flow continue to improve faster than expected — in that case the richer multiple could still prove conservative.
Company profile
IREN Limited, established in 2018 and based in Sydney, Australia, operates a comprehensive, vertically integrated data center business spanning Australia and Canada.
Valuation
Stock splits
No stock splits recorded for this ticker.
Profitability & growth
Standard profitability metrics can be misleading for financial/insurance companies. GAAP requires unrealized investment gains/losses in net income (affecting ROE), and margins are blended across diverse business segments.
Analyst consensus
9
Buy
3
Hold
1
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Aug 27, 2026
Q3 FY26 · EPS est -$0.32 · Revenue est $171.13M
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