(IREN) IREN - Overview
Stock: Data Centers, Computing Hardware, Electrical Infrastructure, Bitcoin Mining
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 110% |
| Relative Tail Risk | -8.19% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.78 |
| Alpha | 269.33 |
| Character TTM | |
|---|---|
| Beta | 2.116 |
| Beta Downside | 2.209 |
| Drawdowns 3y | |
|---|---|
| Max DD | 65.56% |
| CAGR/Max DD | 2.77 |
Description: IREN IREN December 19, 2025
IREN Ltd (NASDAQ: IREN) is a vertically integrated data-center operator with assets in Australia and Canada. It owns the full stack-from power infrastructure to mining hardware-and generates Bitcoin by running proof-of-work nodes on its facilities. The firm, incorporated in 2018 and headquartered in Sydney, rebranded from Iris Energy Limited in November 2024.
Key operational metrics (Q3 2024): ≈ 1.2 EH/s total hash rate, ≈ 45 MW of contracted power capacity, and a data-center utilization rate of ~78 %. Revenue is driven primarily by Bitcoin mining fees, which are highly sensitive to BTC price movements and network difficulty adjustments.
Sector drivers that materially affect IREN’s outlook include: (1) Bitcoin’s price volatility- a 10 % rise in BTC typically lifts mining revenue by ~8 % after accounting for difficulty lag; (2) Global renewable-energy policy, especially Australia’s Renewable Energy Target, which can lower electricity costs for mining; (3) Competition for cheap, low-latency power in North America, where capacity constraints can compress margins.
Investors should note that IREN’s cash-flow profile is contingent on sustained BTC prices above $30k and stable regulatory environments; a prolonged price dip or stricter carbon-emission rules could materially impair profitability.
For a deeper quantitative assessment, consult the ValueRay model on IREN to explore scenario-based forecasts.
Piotroski VR‑10 (Strict, 0-10) 4.0
| Net Income: 523.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.20 > 0.02 and ΔFCF/TA 42.39 > 1.0 |
| NWC/Revenue: 132.7% < 20% (prev 6.15%; Δ 126.5% < -1%) |
| CFO/TA 0.10 > 3% & CFO 433.3m > Net Income 523.3m |
| Net Debt (-66.6m) to EBITDA (952.5m): -0.07 < 3 |
| Current Ratio: 5.52 > 1.5 & < 3 |
| Outstanding Shares: last quarter (226.2m) vs 12m ago 19.50% < -2% |
| Gross Margin: 65.35% > 18% (prev 0.56%; Δ 6479 % > 0.5%) |
| Asset Turnover: 25.00% > 50% (prev 16.17%; Δ 8.83% > 0%) |
| Interest Coverage Ratio: 25.18 > 6 (EBITDA TTM 952.5m / Interest Expense TTM 28.6m) |
Altman Z'' 5.05
| A: 0.22 (Total Current Assets 1.12b - Total Current Liabilities 203.7m) / Total Assets 4.27b |
| B: -0.05 (Retained Earnings -211.6m / Total Assets 4.27b) |
| C: 0.26 (EBIT TTM 720.1m / Avg Total Assets 2.77b) |
| D: 1.95 (Book Value of Equity 2.72b / Total Liabilities 1.39b) |
| Altman-Z'' Score: 5.05 = AAA |
Beneish M -1.31
| DSRI: 0.44 (Receivables 35.5m/23.9m, Revenue 693.6m/207.2m) |
| GMI: 0.86 (GM 65.35% / 56.27%) |
| AQI: 2.00 (AQ_t 0.24 / AQ_t-1 0.12) |
| SGI: 3.35 (Revenue 693.6m / 207.2m) |
| TATA: 0.02 (NI 523.3m - CFO 433.3m) / TA 4.27b) |
| Beneish M-Score: -1.31 (Cap -4..+1) = D |
What is the price of IREN shares?
Over the past week, the price has changed by -13.06%, over one month by +0.26%, over three months by -23.30% and over the past year by +258.86%.
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 | 84.9 | 83.9% |
| Analysts Target Price | 84.9 | 83.9% |
| ValueRay Target Price | 57.7 | 25.1% |
IREN Fundamental Data Overview February 04, 2026
P/E Forward = 55.8659
P/S = 25.3116
P/B = 6.8313
P/EG = 4.0547
Revenue TTM = 693.6m USD
EBIT TTM = 720.1m USD
EBITDA TTM = 952.5m USD
Long Term Debt = 964.2m USD (from longTermDebt, last quarter)
Short Term Debt = 800.0k USD (from shortTermDebt, last quarter)
Debt = 965.6m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -66.6m USD (from netDebt column, last quarter)
Enterprise Value = 17.36b USD (17.43b + Debt 965.6m - CCE 1.03b)
Interest Coverage Ratio = 25.18 (Ebit TTM 720.1m / Interest Expense TTM 28.6m)
EV/FCF = -20.21x (Enterprise Value 17.36b / FCF TTM -859.2m)
FCF Yield = -4.95% (FCF TTM -859.2m / Enterprise Value 17.36b)
FCF Margin = -123.9% (FCF TTM -859.2m / Revenue TTM 693.6m)
Net Margin = 75.44% (Net Income TTM 523.3m / Revenue TTM 693.6m)
Gross Margin = 65.35% ((Revenue TTM 693.6m - Cost of Revenue TTM 240.3m) / Revenue TTM)
Gross Margin QoQ = 62.95% (prev 26.95%)
Tobins Q-Ratio = 4.07 (Enterprise Value 17.36b / Total Assets 4.27b)
Interest Expense / Debt = 0.96% (Interest Expense 9.28m / Debt 965.6m)
Taxrate = 33.15% (190.7m / 575.3m)
NOPAT = 481.4m (EBIT 720.1m * (1 - 33.15%))
Current Ratio = 5.52 (Total Current Assets 1.12b / Total Current Liabilities 203.7m)
Debt / Equity = 0.34 (Debt 965.6m / totalStockholderEquity, last quarter 2.88b)
Debt / EBITDA = -0.07 (Net Debt -66.6m / EBITDA 952.5m)
Debt / FCF = 0.08 (negative FCF - burning cash) (Net Debt -66.6m / FCF TTM -859.2m)
Total Stockholder Equity = 1.85b (last 4 quarters mean from totalStockholderEquity)
RoA = 18.86% (Net Income 523.3m / Total Assets 4.27b)
RoE = 28.26% (Net Income TTM 523.3m / Total Stockholder Equity 1.85b)
RoCE = 25.58% (EBIT 720.1m / Capital Employed (Equity 1.85b + L.T.Debt 964.2m))
RoIC = 19.31% (NOPAT 481.4m / Invested Capital 2.49b)
WACC = 13.02% (E(17.43b)/V(18.39b) * Re(13.71%) + D(965.6m)/V(18.39b) * Rd(0.96%) * (1-Tc(0.33)))
Discount Rate = 13.71% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 76.43%
Fair Price DCF = unknown (Cash Flow -859.2m)
EPS Correlation: 36.74 | EPS CAGR: 0.50% | SUE: 0.87 | # QB: 1
Revenue Correlation: 92.34 | Revenue CAGR: 93.68% | SUE: -0.16 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.03 | Chg30d=-0.010 | Revisions Net=+0 | Analysts=10
EPS current Year (2026-06-30): EPS=1.04 | Chg30d=-0.016 | Revisions Net=-2 | Growth EPS=+195.1% | Growth Revenue=+124.9%
EPS next Year (2027-06-30): EPS=1.06 | Chg30d=+0.000 | Revisions Net=+3 | Growth EPS=+0.3% | Growth Revenue=+138.7%