IREN Limited (IREN)
Financials · NMS
Price as at 1 Oct 2026, 12:36 UTC. Quotes are delayed.
Fundamentals
Valuation and ratings
IREN Limited trades at $40.88, which is 62% above the $15.44 our fair value estimate puts on the business. On that measure it screens as expensive, which is not the same as saying it will fall.
Our moat model scores it 57 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 50.8 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
IREN earnings and analyst estimates
Recommendation mix, 16 published ratings
Estimates are the published analyst consensus and move often. An earnings date is scheduled, not certain, and a share tends to reprice most violently on the day itself.
About IREN Limited
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.
Company profile, industry and headcount are as reported by our data provider and can lag a company's own filings by a reporting period. The annual report is the authority.
IREN passes 1 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Politician trades in IREN
Trades in IREN disclosed by members of Congress and executive-branch officials, latest first:
- Cleo Fields · HouseBuy · $50,001 - $100,000 · traded 20 Jan 2026 · disclosed 3 Feb 2026
- Cleo Fields · HouseSell · $50,001 - $100,000 · traded 26 Dec 2025 · disclosed 16 Jan 2026
- Cleo Fields · HouseBuy · $1,001 - $15,000 · traded 9 Dec 2025 · disclosed 17 Dec 2025
- Cleo Fields · HouseBuy · $1,001 - $15,000 · traded 10 Oct 2025 · disclosed 30 Oct 2025
- Cleo Fields · HouseBuy · $15,001 - $50,000 · traded 10 Jul 2025 · disclosed 6 Aug 2025
A disclosure reports a value band, not an amount, and is due up to 45 days after the trade; some arrive later. Every filer we track, each with their own page, is on the Congress trading tracker.
IREN peers
The largest companies in the same industry (Capital Markets), then in the same sector.
- NMR Nomura Holdings, Inc.
- LPLA LPL Financial Holdings Inc.
- EVR Evercore Inc.
- HUT Hut 8 Corp.
- SF Stifel Financial Corporation
- SOL.AX WHSP Holdings Limited
- BMNR Bitmine Immersion Technologies, Inc.
- GLXY Galaxy Digital
Every financials company we cover is on the Financials hub.
Common questions
Is IREN Limited (IREN) undervalued?
Against our fair value estimate of $15.44, IREN at $40.88 is 62% above fair value. That is one model's answer, not a recommendation. It is built from normalized earning power with growth capped deliberately low, which understates companies whose value is mostly future growth.
What is IREN's P/E ratio?
IREN trades at 50.8 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Where does SteadyShares get its IREN data?
Fundamentals for IREN come from company filings and exchange data, as listed on NMS; institutional ownership comes from SEC 13F filings. The share price shown was last refreshed on 1 Oct 2026, 12:36 UTC and is delayed. Our data quality score for this company is 92/100, which is the share of the inputs behind our scores that were actually available rather than assumed. Metrics we do not hold are left out of the page rather than estimated.
The full research page for IREN, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.