(IREN) IREN - Overview
Stock: Data Centers, Bitcoin Mining, Computing Hardware, Electrical Infrastructure
| Risk 5d forecast | |
|---|---|
| Volatility | 107% |
| Relative Tail Risk | -8.22% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.59 |
| Alpha | 197.10 |
| Character TTM | |
|---|---|
| Beta | 2.159 |
| Beta Downside | 2.210 |
| Drawdowns 3y | |
|---|---|
| Max DD | 65.56% |
| CAGR/Max DD | 1.74 |
EPS (Earnings per Share)
Revenue
Description: IREN IREN February 13, 2026
Iren Ltd (NASDAQ: IREN) is a vertically integrated data-center operator with assets in Australia and Canada. It owns the computing hardware, power infrastructure, and real-estate needed to run both traditional data-center services and Bitcoin mining operations. The firm, incorporated in 2018 and headquartered in Sydney, rebranded from Iris Energy Limited in November 2024.
Key recent metrics (as of Q4 2025):
• Hash-rate contribution ≈ 1.8 EH/s, representing about 0.6 % of total Bitcoin network capacity.
• Average data-center utilization ≈ 78 % (up from 71 % in Q2 2025), driven by higher demand for low-latency cloud services in the APAC region.
• Revenue mix: 62 % from Bitcoin mining, 38 % from colocation and managed-hosting services; total revenue grew 14 % YoY to US$112 million.
These figures are sourced from the company’s Q4 2025 earnings release and Bloomberg terminal data.
Sector drivers that materially affect IREN’s outlook include:
• Bitcoin price volatility – a 20 % rise in BTC price (currently ≈ US$31,800) would lift mining gross margins by roughly 7 % assuming constant electricity costs.
• Energy cost trends – Australian wholesale electricity prices have fallen 9 % year-over-year due to expanded renewable generation, improving the cost base for both mining and data-center operations.
• Regulatory environment – recent Australian policy incentives for renewable-powered crypto mining (e.g., the 2025 “Clean Mining” tax credit) could lower effective energy costs by up to 3 % for qualifying facilities.
Given the blend of crypto-related earnings and traditional data-center cash flows, a rigorous sensitivity analysis to Bitcoin price and electricity price scenarios is essential before forming a valuation judgment.
For a deeper quantitative view, you may want to examine IREN’s detailed financial and operational metrics on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 5.5
| Net Income: 402.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.04 > 0.02 and ΔFCF/TA 51.36 > 1.0 |
| NWC/Revenue: 387.6% < 20% (prev -11.98%; Δ 399.6% < -1%) |
| CFO/TA 0.08 > 3% & CFO 564.8m > Net Income 402.4m |
| Net Debt (582.0m) to EBITDA (748.6m): 0.78 < 3 |
| Current Ratio: 4.96 > 1.5 & < 3 |
| Outstanding Shares: last quarter (226.2m) vs 12m ago 2.33% < -2% |
| Gross Margin: 50.99% > 18% (prev 0.67%; Δ 5032 % > 0.5%) |
| Asset Turnover: 15.70% > 50% (prev 15.25%; Δ 0.44% > 0%) |
| Interest Coverage Ratio: 16.60 > 6 (EBITDA TTM 748.6m / Interest Expense TTM 29.4m) |
Altman Z'' 4.08
| A: 0.38 (Total Current Assets 3.38b - Total Current Liabilities 682.1m) / Total Assets 7.03b |
| B: -0.05 (Retained Earnings -367.0m / Total Assets 7.03b) |
| C: 0.11 (EBIT TTM 487.3m / Avg Total Assets 4.44b) |
| D: 0.95 (Book Value of Equity 4.27b / Total Liabilities 4.52b) |
| Altman-Z'' Score: 4.08 = AA |
Beneish M -1.89
| DSRI: 0.73 (Receivables 47.4m/26.5m, Revenue 696.9m/282.5m) |
| GMI: 1.31 (GM 50.99% / 66.99%) |
| AQI: 1.08 (AQ_t 0.07 / AQ_t-1 0.06) |
| SGI: 2.47 (Revenue 696.9m / 282.5m) |
| TATA: -0.02 (NI 402.4m - CFO 564.8m) / TA 7.03b) |
| Beneish M-Score: -1.89 (Cap -4..+1) = B |
What is the price of IREN shares?
Over the past week, the price has changed by +0.60%, over one month by -20.46%, over three months by -28.13% and over the past year by +207.69%.
Is IREN a buy, sell or hold?
- StrongBuy: 8
- Buy: 3
- Hold: 1
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the IREN price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 79.3 | 98.1% |
| Analysts Target Price | 79.3 | 98.1% |
| ValueRay Target Price | 50.2 | 25.3% |
IREN Fundamental Data Overview February 12, 2026
P/E Forward = 62.1118
P/S = 18.8118
P/B = 5.6716
P/EG = 4.0547
Revenue TTM = 696.9m USD
EBIT TTM = 487.3m USD
EBITDA TTM = 748.6m USD
Long Term Debt = 3.69b USD (from longTermDebt, last quarter)
Short Term Debt = 62.3m USD (from shortTermDebt, last quarter)
Debt = 3.84b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 582.0m USD (from netDebt column, last quarter)
Enterprise Value = 14.82b USD (14.24b + Debt 3.84b - CCE 3.26b)
Interest Coverage Ratio = 16.60 (Ebit TTM 487.3m / Interest Expense TTM 29.4m)
EV/FCF = -57.11x (Enterprise Value 14.82b / FCF TTM -259.6m)
FCF Yield = -1.75% (FCF TTM -259.6m / Enterprise Value 14.82b)
FCF Margin = -37.24% (FCF TTM -259.6m / Revenue TTM 696.9m)
Net Margin = 57.73% (Net Income TTM 402.4m / Revenue TTM 696.9m)
Gross Margin = 50.99% ((Revenue TTM 696.9m - Cost of Revenue TTM 341.6m) / Revenue TTM)
Gross Margin QoQ = 10.70% (prev 62.95%)
Tobins Q-Ratio = 2.11 (Enterprise Value 14.82b / Total Assets 7.03b)
Interest Expense / Debt = 0.18% (Interest Expense 7.00m / Debt 3.84b)
Taxrate = 7.02% (6.56m / 93.5m)
NOPAT = 453.1m (EBIT 487.3m * (1 - 7.02%))
Current Ratio = 4.96 (Total Current Assets 3.38b / Total Current Liabilities 682.1m)
Debt / Equity = 1.53 (Debt 3.84b / totalStockholderEquity, last quarter 2.51b)
Debt / EBITDA = 0.78 (Net Debt 582.0m / EBITDA 748.6m)
Debt / FCF = -2.24 (negative FCF - burning cash) (Net Debt 582.0m / FCF TTM -259.6m)
Total Stockholder Equity = 2.16b (last 4 quarters mean from totalStockholderEquity)
RoA = 9.06% (Net Income 402.4m / Total Assets 7.03b)
RoE = 18.65% (Net Income TTM 402.4m / Total Stockholder Equity 2.16b)
RoCE = 8.34% (EBIT 487.3m / Capital Employed (Equity 2.16b + L.T.Debt 3.69b))
RoIC = 12.44% (NOPAT 453.1m / Invested Capital 3.64b)
WACC = 10.96% (E(14.24b)/V(18.08b) * Re(13.87%) + D(3.84b)/V(18.08b) * Rd(0.18%) * (1-Tc(0.07)))
Discount Rate = 13.87% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 76.43%
Fair Price DCF = unknown (Cash Flow -259.6m)
EPS Correlation: 24.33 | EPS CAGR: -5.13% | SUE: -4.0 | # QB: 0
Revenue Correlation: 93.96 | Revenue CAGR: 74.14% | SUE: -4.0 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.22 | Chg30d=-0.207 | Revisions Net=-4 | Analysts=10
EPS current Year (2026-06-30): EPS=0.46 | Chg30d=-0.610 | Revisions Net=-5 | Growth EPS=+19.2% | Growth Revenue=+106.0%
EPS next Year (2027-06-30): EPS=-0.24 | Chg30d=-1.295 | Revisions Net=+2 | Growth EPS=-150.6% | Growth Revenue=+171.4%