# IREN Limited (IREN) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Technology / Software. Price $44.68, market value $17.6 billion.

## Valuation
- **P/E (trailing): n/a** (negative earnings). IREN Limited reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 24.9×**. Each dollar of revenue is priced at 24.9×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 4.1×**. The shares trade at 4.1× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: -5.1%** (5-yr avg -31.2%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.

## Profitability
- **Operating margin: -148.0%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: -99.4%**. The company reported a net loss over the last twelve months.
- **Return on equity: -16.8%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -14.1%**. Return on all capital, debt included, is -14.1%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -4.4%**. Each dollar of assets produces -4.4% of profit.

## Growth
- **Revenue growth (1 yr): 41.1%** (3-yr 110.8%/yr, 5-yr 145.7%/yr). Revenue grew 41.1% over the last year, against 145.7% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -669.2%**. Earnings per share fell 669.2%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 1.81**. Debt is 1.81 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: net cash**. IREN Limited holds more cash than debt.
- **Current ratio: 3.55** (quick 3.55). Current assets cover the next year's liabilities 3.55 times.
- **Altman Z-score: 1.54**. A Z-score of 1.54 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 2/9**. 2 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend: none**. IREN Limited does not currently pay a dividend.

## Analyst view
- **Analyst consensus: buy** (16 analysts). 16 analysts cover IREN Limited; the consensus is buy, with an average price target of $77.84 (+74% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 71.0%** (YTD 18.3%, 3-mo -17.8%). The shares are up 71.0% over twelve months including dividends.
- **From 52-week high: -41.9%** (65.2% above the low). Trading 42% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 57**. An RSI of 57 is neutral.
- **Beta (1 yr): 3.72** (volatility 111%). Beta of 3.72 against the S&P 500: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=IREN · Page: https://foliofundamentals.com/stocks/iren

Not investment advice.