IREN Ltd Dossier
Financial Snapshot
Revenue, profitability, returns, debt, and capital allocation
Revenue $707M+41.1% YoYTTM through 31 Mar 2026
Net Income -$702.6M-908.2% YoYTTM through 31 Mar 2026
Free Cash Flow -$897.6MTTM through 30 Jun 2026
Margins
| Current | |
|---|---|
| Operating Margin | 3.5% |
| Net Margin | -99.4% |
Returns
-16.8%ROE
-4.4%ROA
Balance Sheet Health
Debt / Equity0.62x
Current Ratio4.29x
Net Debt$1.7B
Cash & Equivalents$5.9B
Quality Metrics
Altman Z-Score1.13
Piotroski F-Score2 / 9
FCF Margin-127.0%
Rule of 40-124.7
Earnings-Beat Rate50.0%
Multi-Year Trend
RevenueFY2026: $707M
Diluted EPS-$2.22TTMFY2026: $-2.22
Dividend
No dividend
Capital Allocation
Capex Intensity424.0%
Segment Performance
| Segment | Revenue | YoY | Outlook |
|---|---|---|---|
| Bitcoin Mining | View detailsAggressively transitioning from Bitcoin mining to AI Cloud services, including the strategic decommissioning of Bitcoin mining hardware to make room for AI infrastructure. | ||
| AI Cloud Services | View detailsTargeting rapid expansion to 10.9k GPUs by the end of 2025 and transitioning core focus to AI Cloud. |
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