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IREN Limited (IREN)

23.95 -2.30 (-8.76%)
At close: October 30 at 4:00:01 PM EDT
24.16 +0.21 (+0.88%)
After hours: October 30 at 7:59:43 PM EDT
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What's happening with IREN?

15m ago
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IREN faces a near-term earnings test after a sharp neocloud-sector selloff. Analysts see substantial AI infrastructure growth, but funding needs, dilution risk, customer concentration, and expected losses remain central concerns. IREN’s current regular-session change is down 8.76% as of November 1, 2026.

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  • Previous Close 26.25
  • Open 24.35
  • Bid 21.98 x 200
  • Ask 32.00 x 100
  • Day's Range 23.06 - 24.93
  • 52 Week Range 23.06 - 76.87
  • Volume 52,622,225
  • Avg. Volume 45,313,154
  • Market Cap (intraday) 9.69B
  • Beta (5Y Monthly) 4.27
  • PE Ratio (TTM) --
  • EPS (TTM) -2.22
  • Earnings Date Nov 5, 2026
  • Forward Dividend & Yield -- (0.00%)
  • 1y Target Est 75.42
  • Morningstar Rating
    Rating available with Stock Picks access

IREN Limited operates as a vertically integrated AI cloud services platform in Australia and Canada. It develops, owns, and operate data centers, including the associated land, grid connections, and substations, as well as buildings and cooling. The company also owns and operates compute layers, such as GPUs, CPUs, storage, servers, and networking deployed within that data center infrastructure; and software layers comprising managed services and enterprise support that enables customers to deploy, operate, and manage AI workloads. In addition, it is involved in Bitcoin mining. The company was formerly known as Iris Energy Limited and changed its name to IREN Limited in November 2024. IREN Limited was incorporated in 2018 and is based in Sydney, Australia.

iren.com

685

Full Time Employees

June 30

Fiscal Year Ends

Performance Overview

Trailing total returns as of 10/30/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC) .

YTD Return

IREN
36.59%
S&P 500 (^GSPC)
10.73%

1-Year Return

IREN
58.86%
S&P 500 (^GSPC)
11.11%

3-Year Return

IREN
695.68%
S&P 500 (^GSPC)
81.91%

5-Year Return

IREN
14.46%
S&P 500 (^GSPC)
64.59%

Earnings Trends

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Earnings Per Share

GAAP
Normalized
GAAP
Normalized
 

Revenue vs. Earnings

Annual
Quarterly
Annual
Quarterly
Q4 FY26
Revenue 137.2M
Earnings -684M
Profit Margin -498.54%

Q1

FY26

Q2

FY26

Q3

FY26

Q4

FY26

-600M
-400M
-200M
0
200M
-400.0%
-200.0%
0.0%
 

Analyst Insights

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Top Analyst

Canaccord Genuity
76/100
Latest Rating
Buy
 

Analyst Price Targets

37.00
75.42 Average
23.95 Current
139.00 High
 

Analyst Recommendations

  • Strong Buy
  • Buy
  • Hold
  • Underperform
  • Sell
 

Latest Rating

Date 10/30/2026
Analyst B. Riley Securities
Rating Action Maintains
Rating Buy
Price Action Lowers
Price Target 91 -> 64
 

Statistics

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Valuation Measures

Annual
As of 8/26/2026
  • Market Cap

    9.69B

  • Enterprise Value

    11.64B

  • Trailing P/E

    106.97

  • Forward P/E

    87.94

  • PEG Ratio (current)

    --

  • Price/Sales (ttm)

    10.71

  • Price/Book (mrq)

    2.18

  • Enterprise Value/Revenue

    16.46

  • Enterprise Value/EBITDA

    36.93

Financial Highlights

Profitability and Income Statement

  • Profit Margin

    -99.38%

  • Return on Assets (ttm)

    -2.53%

  • Return on Equity (ttm)

    -23.41%

  • Revenue (ttm)

    707.01M

  • Net Income Avi to Common (ttm)

    -702.62M

  • Diluted EPS (ttm)

    -2.22

Balance Sheet and Cash Flow

  • Total Cash (mrq)

    5.9B

  • Total Debt/Equity (mrq)

    187.30%

  • Levered Free Cash Flow (ttm)

    -4.22B

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Company Insights

Fair Value

23.95 Current
 

Dividend Score

0 Low
Sector Avg.
100 High
 

Hiring Score

0 Low
Sector Avg.
100 High
 

Insider Sentiment Score

0 Low
Sector Avg.
100 High
 

Research Reports

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  • Neoclouds: Financing Risk Looms As Trillion-Dollar AI Buildout Tests Credit Market's Capacity

    IREN owns data centers powered by renewable energy in Canada and the US for bitcoin mining and AI cloud infrastructure. The company is in the process of converting its existing bitcoin capacity for AI purposes and securing new power and land supply to expand its data center operations. IREN works closely with industry leaders in AI, such as Microsoft, to support their cloud infrastructure ambitions.

     
  • IREN Earnings: Solid Progress Catching Up With Leading Neocloud Firms in Service Delivery

    IREN owns data centers powered by renewable energy in Canada and the US for bitcoin mining and AI cloud infrastructure. The company is in the process of converting its existing bitcoin capacity for AI purposes and securing new power and land supply to expand its data center operation. IREN works closely with industry leaders in AI, such as Microsoft, to support their cloud infrastructure ambitions.

     
  • IREN Earnings: Solid Progress Catching Up With Leading Neocloud Firms in Service Delivery

    IREN owns data centers powered by renewable energy in Canada and the US for bitcoin mining and AI cloud infrastructure. The company is in the process of converting its existing bitcoin capacity for AI purposes and securing new power and land supply to expand its data center operation. IREN works closely with industry leaders in AI, such as Microsoft, to support their cloud infrastructure ambitions.

     
  • Neoclouds: Meta's Planned Entry Reaffirms Strong Demand for Cloud Infrastructure

    IREN owns data centers powered by renewable energy in Canada and the US for bitcoin mining and AI cloud infrastructure. The company is in the process of converting its existing bitcoin capacity for AI purposes and securing new power and land supply to expand its data center operation. IREN works closely with industry leaders in AI, such as Microsoft, to support their cloud infrastructure ambitions.

     

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