Want to see IREN full AI Analyst Report?
IREN Stock Chart & Stats
$39.58
-$0.78(-2.10%)
At close: 4:00 PM EDT
$39.58
-$0.78(-2.10%)
Day’s Range― - ―
52-Week Range$26.55 - $76.87
Previous Close$36.07
Volume34.87M
Average Volume (3M)38.50M
Market Cap
$12.28B
Enterprise Value$17.66B
Total Cash (Recent Filing)$6.08B
Total Debt (Recent Filing)$7.84B
Price to Earnings (P/E)―
Beta2.76
Next Earnings
Dec 01, 2026EPS Estimate
-0.72Next Dividend Ex-DateN/A
Dividend YieldN/A
Share Statistics
EPS (TTM)-1.82
Shares Outstanding404,613,530
10 Day Avg. Volume47,370,013
30 Day Avg. Volume38,499,907
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)3.45
Price to Sales (P/S)20.45
P/FCF Ratio-6.47
Enterprise Value/Market Cap1.44
Enterprise Value/Revenue24.98
Enterprise Value/Gross Profit36.24
Enterprise Value/Ebitda509.03
Forecast
1Y Price Target
$79.30Price Target Upside100.35% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
EPS Forecast (FY)-1.85
Revenue Forecast (FY)$2.72B
Bulls Say, Bears Say
Bulls Say
Contracted AI Cloud DemandA large contracted ARR base gives IREN clearer future revenue visibility as AI capacity is deployed and accepted. Multiyear agreements with several AI customers also support utilization, validate demand for its platform, and provide a foundation for scaling beyond bitcoin mining.
Validated AI Infrastructure ExecutionDelivery and third-party validation of a liquid-cooled AI deployment demonstrate that IREN can execute complex infrastructure projects and support demanding workloads. This strengthens credibility with enterprise customers and reinforces its vertically integrated data-center proposition.
Low Leverage And Liquidity SupportLow reported leverage provides financial flexibility while the substantial cash and committed funding resources support ongoing infrastructure investment. Together, these factors give IREN a stronger base for executing its AI transition than a highly indebted balance sheet would provide.
Bears Say
Large Transition Losses And ImpairmentsThe transition away from mining is materially damaging reported earnings through impairments and other costs. Even if some charges are noncash, the scale of the loss highlights execution complexity and makes sustainable profitability harder to establish while the AI platform is still being built.
Capital-Intensive Expansion And Financing DependenceThe planned expansion requires exceptionally large capital commitments relative to the current business and depends on continued financing execution. Higher-cost non-investment-grade GPU financing can increase funding expense, while delays in financing or construction could postpone capacity and revenue.
Volatile Cash Generation And ProfitabilitySharp swings in cash generation make it difficult to assess the recurring economics of the business during its transition. Heavy investment needs, uneven free cash flow and negative earnings could require continued external funding and constrain flexibility if operating performance weakens.
IREN News
IREN FAQ
What was IREN’s price range in the past 12 months?
IREN lowest stock price was $26.55 and its highest was $76.87 in the past 12 months.
What is IREN’s market cap?
IREN’s market cap is $12.28B.
When is IREN’s upcoming earnings report date?
IREN’s upcoming earnings report date is Dec 01, 2026 which is in 45 days.
How were IREN’s earnings last quarter?
IREN released its earnings results on Aug 27, 2026. The company reported -$1.89 earnings per share for the quarter, missing the consensus estimate of -$0.551 by -$1.339.
Is IREN overvalued?
According to Wall Street analysts IREN’s price is currently Undervalued.
Does IREN pay dividends?
IREN does not currently pay dividends.
What is IREN’s EPS estimate?
IREN’s EPS estimate is -0.72.
How many shares outstanding does IREN have?
IREN has 404,613,530 shares outstanding.
What happened to IREN’s price movement after its last earnings report?
IREN reported an EPS of -$1.89 in its last earnings report, missing expectations of -$0.551. Following the earnings report the stock price went down -12.534%.
Which hedge fund is a major shareholder of IREN?
Currently, no hedge funds are holding shares in IREN
What is the TipRanks Smart Score and how is it calculated?
Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology
IREN Stock Smart Score
Underperform
1
2
3
4
5
6
7
8
9
10
Analyst Consensus
Moderate Buy
Average Price Target:
$79.30 (100.35% Upside)
$79.30 (100.35% Upside)
Blogger Sentiment
Bullish
IREN Sentiment 77%
Sector Average 63%
Sector Average 63%
Hedge Fund Trend
Decreased
By 4.4M Shares
Last Quarter.
Last Quarter.
Crowd Wisdom
Negative
Last 7 Days ▲ 0.5%
Last 30 Days ▼ 1.0%
Last 30 Days ▼ 1.0%
News Sentiment
Bullish
Bullish news 73%
Bearish news 27%
Bearish news 27%
Technicals
SMA
Negative
20 days / 200 days
Momentum
-56.34%
12-Months-Change
Fundamentals
Return on Equity
-22.97%
Trailing 12-Months
Asset Growth
415.39%
Trailing 12-Months
Learn more about TipRanks Smart Score
Company Description
IREN
IREN Limited, established in 2018 and based in Sydney, Australia, operates a comprehensive, vertically integrated data center business spanning Australia and Canada. The company possesses and manages all essential infrastructure, including its computing hardware, electrical systems, and the data center facilities themselves. A primary undertaking for IREN Limited is the mining of Bitcoin, a scarce digital asset created and exchanged via a decentralized, peer-to-peer computer network utilizing specialized Bitcoin software. The company was previously named Iris Energy Limited, officially adopting IREN Limited in November 2024.
IREN Company Deck
IREN Earnings Call
Q4 2026
0:00 / 0:00
Earnings Call Sentiment|Positive
The call presents strong commercial traction and market validation: $4.0 billion of ARR contracted, validating demand; accelerating pricing (3-year +125% since November), major GPU financings ($6.5B in recent months) and delivery of Horizon 1 with NVIDIA validation are material positives. The company is in an aggressive scaling phase with large near‑term CapEx ($25B–$30B FY27), timing risks for revenue recognition as capacity comes online late in the December quarter, and substantial noncash impairments and a heavy net loss tied to the transition away from mining. Overall the positives — sizable contracted ARR, robust financing capability, pricing momentum, technical validation and a deep pipeline — materially outweigh the transitional lowlights tied to decommissioning and high near-term spend.View all IREN earnings summariesIREN Stock 12 Month Forecast
Average Price Target
$79.30
▲(100.35% Upside)
Technical Analysis
VNET Group, Inc. Sponsored ADR
―
GDS Holdings
―
Applied Digital Corporation
―
Cipher Digital
―
WhiteFiber, Inc.
―
Ownership Overview
12.04% Insiders
3.18% Mutual Funds
1.51% Other Institutional Investors
78.41% Public Companies and Individual Investors