IRENNasdaqFinance ServicesFiscal year ends June 30
IREN Ltd
Financials through Q4 FY2026, quarter ended Jun 30, 2026Last filing: 10-K on Aug 27, 2026
$27.73+0.74 (+2.74%)
Close on Oct 19, 2026
- Market cap
- $10.08B
- P/E (TTM)
- –
- Dividend yield
- 0.00%
Margins
Share of revenue, fiscal years 2019 to 2026
Gross margin
68.9%
Operating margin
-148.0%−141.4 pts over 5 years
Net margin
-99.4%
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +41.1% | +110.8% | +145.7% | – | |
| Gross profit | +42.5% | +138.1% | – | – |
Returns and balance sheet
8 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2019 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | -23.4% | |
| Return on assets | – | – | -7.5% | |
| Current ratio | – | 0.24 | 3.55 | |
| Debt to equity | – | – | 1.81 | |
| Net debt to EBITDA | – | – | -2.70× | |
| Interest coverage | – | -1.7× | -17.7× | |
| Capex to revenue | – | 92.4% | 424.0% | |
| Diluted shares | – | 21M | 316M |
Where the cash went
Fiscal 2022 to 2026, five years combined
IREN generated $2.44B from operations and spent $3.91B on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$2.44B
Used
$3.91B
Capital expenditure$3.91B100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-99.4%
×Asset turnover0.08×
×Equity multiplier3.12×
=Return on equity, FY2026-23.4%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | -99.4% | 0.08× | 3.12× | -23.4% |
| FY2025 | 17.4% | 0.24× | 1.40× | 6.0% |
| FY2024 | -15.4% | 0.25× | 1.06× | -4.1% |
| FY2023 | -227.6% | 0.17× | 1.21× | -46.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
3of 9 tests passed in fiscal 2026. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$702.62M
- Cash generatingOperating cash flow above zero$2.10B
- Return on assets improvedROA up on the prior year7.5% → -23.9%
- Earnings backed by cashOperating cash flow above net income$2.10B vs -$702.62M
- Less leverageLong-term debt to assets fell32.7% → 47.0%
- Better liquidityCurrent ratio rose4.29 → 3.55
- No dilutionShare count did not rise223M → 316M
- Gross margin improvedGross margin up on the prior year68.27% → 68.92%
- More efficientAsset turnover rose0.43 → 0.24