IREN Ltd (IREN)

IREN Limited operates as a vertically integrated AI cloud services platform in Australia and Canada. It develops, owns, and operates 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. Further, its division IREN Europe operates a planned AI data center in Badajoz, Spain that deliver approximately 300MW of capacity, including managed services to customers seeking greater choice over where their AI workloads run and how their data and infrastructure are managed in Europe. 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.

Ticker
IREN
Exchange
Nasdaq
Sector
Financial Services
Industry
Capital Markets
Market cap
$8.62B
52-week range
$17.16 - $75.79

Valuation

Share price
$21.64 (close of Nov 6, 2026)
P/E (TTM)
-5.68x
Price to book
1.69x
Price to free cash flow
-3.50x
Enterprise value
$15.32B
Book value per share
$12.84

Price performance

PeriodChange
1 day+20.02%
5 days-9.65%
1 month-47.58%
3 months-42.95%
6 months-64.51%
Year to date-42.71%
1 year-67.68%
3 years+547.90%
All time-11.49%

Short interest

As of
Oct 15, 2026
Short % of float
24.53%
Shares short
94.62M
Days to cover
1.82
Change since prior report
+15.88%
Source
FINRA consolidated short interest

Profitability and growth

Return on equity
-16.79%
Return on assets
-4.45%
Net margin
-99.38%
Revenue growth
41.11%

Cash flow and balance sheet

Free cash flow yield (TTM)
-28.54%
Current ratio
1.60x
Net debt to EBITDA
-7.12x

Latest reported year

Period end
Jun 30, 2026
Fiscal year
2026
Revenue
$707.01M
Net income
-$702.62M
Earnings per share
$-2.22
Interest expense
$59.25M
Shares outstanding
316.12M

Income statement by year

Period endRevenueNet incomeEPS
2026-06-30$707.01M-$702.62M-$2.22
2025-06-30$501.02M$86.94M$0.41
2024-06-30$187.19M-$28.92M-$0.29
2023-06-30$75.51M-$171.83M-$3.14
2022-06-30$59.04M-$419.77M-$10.25
2021-06-30$7.90M-$60.39M-$2.93
2020-06-30$2.17M-$2.14M-$0.13

Margins and returns by year

Period endNet marginReturn on equity
2026-06-30-99.38%-16.79%
2025-06-3017.35%4.78%
2024-06-30-15.45%-2.64%
2023-06-30-227.56%-56.27%
2022-06-30-711.03%-95.98%
2021-06-30-764.62%-
2020-06-30-98.53%-24.29%

Cash and debt by year

Period endCashDebt
2026-06-30$5.90B$7.42B
2025-06-30$564.53M$962.76M
2024-06-30$411.13M-
2023-06-30$68.89M$1.26M
2022-06-30$109.97M$47.80M
2021-06-30$38.99M$11.84M
2020-06-30$1.96M-

Free cash flow by year

Period endFree cash flowStock-based compensation
2026-06-30-$897.59M$205.02M
2025-06-30-$327.57M$42.64M
2024-06-30-$89.64M$23.64M
2023-06-30-$110.33M$14.36M
2022-06-30-$121.13M$13.90M
2021-06-30-$5.54M$805.00K
2020-06-30-$4.90M$179.00K

Investor relations

Past earnings dates

ReportedFiscal periodEPS estimate
2026-11-05Sep 2026-$0.49
2026-08-27Jun 2026-$0.50
2026-05-07Mar 2026-$0.18
2026-02-05Dec 2025-$0.09
2025-11-06Sep 2025$0.14
2025-08-28Jun 2025$0.17
2025-05-14Mar 2025$0.17
2025-02-12Dec 2024-$0.04

Filings and sources

Company website
iren.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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