Sales down 27% in the latest quarter vs a year ago
Money moves
No insider buying or selling in the last 30 days
Facts from SEC filings, not a recommendation.
What the price means
Price as of Oct 26
$25.44+2.1% that day
Company value
$9.1B
Share price times all shares
Price vs sales
12.9x
No profit over the last year, so this compares value with sales instead
Cash vs value
65%
A big cushion: cash is a large part of what the company is worth
Debt vs value
11%
Debt as a share of company value
From IREN's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.
The business over time
Last 8 quarters, from SEC filings
Sales, Jun '26 (worked out from yearly totals)
$137.2M-27% vs a year earlier
Sep '24Tap a barJun '26
Last 12 months: $707.0M, up 41% from the 12 months before.
What the price assumes
Your guesses, our math
Move the sliders to your own view of IREN. Starting points are the company's recent numbers (it isn't profitable yet, so the margin starts at a 10% guess).
Sales in 5 years$2.6B
Profit in 5 years$263M
Price these guesses point to$11.02-57% vs $25.44 todayAbout -15% a year, before dividends
What today's price needs: with a 10% margin and a 15x P/E, sales would have to grow about 54% a year for 5 years just to match today's price.
Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.
The checklist Warren Buffett-style investors use. Annual numbers for 2025.
2/4Mixed
MissReturn on equity 15%+Earns a lot on the money owners have in the business.4.6%
PassDebt under half of equityNot relying on borrowed money.0.38x equity
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.17.4%
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$327.6M
Revenue
$501.0M
+167.7% vs prior year
Total debt
$962.8M
0.38x equity
Free cash flow
-$327.6M
-65.4% of revenue
From annual reports filed with the SEC. Gross margin doesn't apply to banks and insurers, so it isn't scored. Not in this company's SEC data, so not scored: profitable every year, share count not growing. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Aug 27
Revenue
$137.2M
-26.7% YoY
EPS
-$2.16
vs $0.83
Op. margin
-452.1%
-461.7 pts
Gross margin
75.7%
+3.9 pts
Free cash flow
$482.2M
Some values are worked out from year-to-date totals in the annual report.
Insider rating
Last 90 days
No open-market insider buys or sells in the last 90 days.
Weekly insider trend
No trades to chart yet.
Filing buzz
Last 7 days vs normal
0/ 100
This week
0
Normal week
0.9
vs normal
0.0x
SEC filings of any kind. 50 means a normal week.
Safety check
From SEC filings
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
1.8x · $7.6B debt
Shares outstandingLatest reported
357M
Why elevated risk
Losing money, losses are large next to sales
Debt above equity: 1.81x
1 offering filing in 6 months (may sell new shares)
Auditor change
Earnings reports
Last 7
Next reportAround Nov 5 (est.)Estimated from the same quarter last year
Results filedAug 27
Results filedJul 20
Results filedMay 11
Results filedMay 8
Results filedFeb 5
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days