BWB
Bridgewater Bancshares, Inc.
BWB's fundamentals are strong: revenue grew 26% and its operating margin rose 6 points to 46%. At 11x earnings, it's trading in line with its usual 11x. Analysts expect earnings growth.
IREN
IREN Limited
There isn't enough reported data to score IREN yet.
BWB Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
BWB's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like BWB.
IREN Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Weak | |
| N/A | |
| N/A |
IREN's revenue and profitability are currently under pressure. Free cash flow and net leverage aren't meaningful measures for financial services companies like IREN.
BWB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8.8x | $17.14 | -17% |
| Fair | 11x | $22.18 | +7% |
| Current | 11x | $20.73 | — |
| Forward | 11x | $20.73 | — |
| Expensive | 14x | $26.63 | +28% |
Historical ranges are pointers, not guarantees.
BWB's PE is in its fair range at 10.7x. On analysts' estimates for next year's earnings, today's price would be 10.5x.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
BWB Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for BWB, with profitability holding steady.
IREN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect IREN's losses to grow, with revenue growing. However, they disagree widely on these estimates.
BWB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.97 | +1.5% |
| Q3 2026 | $1.94 | +46% |
| Q2 2026 | $1.83 | +50% |
| Q1 2026 | $1.76 | +60% |
| Q4 2025 | $1.49 | +45% |
| Q3 2025 | $1.33 | +25% |
| Q2 2025 | $1.22 | +12% |
| Q1 2025 | $1.10 | -3.5% |
| Q4 2024 | $1.03 | -19% |
BWB has the edge over IREN on earnings quality, reporting a profit while its opponent remains loss making.
IREN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$3.96 | -347% |
| Q2 2026 | -$2.22 | -988% |
| Q1 2026 | $0.51 | +$1.10 |
| Q4 2025 | $1.18 | +$1.62 |
| Q3 2025 | $1.60 | +$1.99 |
| Q2 2025 | $0.25 | +$0.45 |
| Q1 2025 | -$0.59 | -$0.43 |
| Q4 2024 | -$0.44 | -$0.15 |
IREN has swung to a loss: it lost $3.96 per share over the past year, after a profit the year before.
BWB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $43.2M | +20% |
| Q2 2026 | $40.9M | +13% |
| Q1 2026 | $46.2M | +43% |
| Q4 2025 | $38.8M | +32% |
| Q3 2025 | $36.2M | +33% |
| Q2 2025 | $36.1M | +35% |
| Q1 2025 | $32.3M | +23% |
| Q4 2024 | $29.5M | +10% |
BWB's revenue has grown year over year for eight quarters in a row: $43M last quarter, up 20% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 44% | +2.5 points |
| Q2 2026 | 45% | +3.1 points |
| Q1 2026 | 49% | +10 points |
| Q4 2025 | 44% | +8.5 points |
| Q3 2025 | 42% | -0.1 points |
| Q2 2025 | 42% | +2.3 points |
| Q1 2025 | 39% | +0.1 points |
| Q4 2024 | 36% | -7.7 points |
BWB has the edge over IREN on profitability, with a higher operating margin.
IREN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $228M | -5.1% |
| Q2 2026 | $137.2M | -27% |
| Q1 2026 | $144.8M | 0% |
| Q4 2025 | $184.7M | +59% |
| Q3 2025 | $240.3M | +355% |
| Q2 2025 | $187.3M | +230% |
| Q1 2025 | $144.8M | +168% |
| Q4 2024 | $116.1M | +176% |
IREN's revenue has held roughly level: $228M last quarter, down 5.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -82% | -50 points |
| Q2 2026 | -452% | -461 points |
| Q1 2026 | -161% | -180 points |
| Q4 2025 | -63% | -79 points |
| Q3 2025 | -32% | +57 points |
| Q2 2025 | 9% | +49 points |
| Q1 2025 | 19% | +8 points |
| Q4 2024 | 15% | +21 points |
IREN's operating margin was −82% last quarter, down 50 points from the same quarter a year ago.
BWB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $45.5M | +486% |
| Q2 2026 | $9.3M | +229% |
| Q1 2026 | $14.2M | +105% |
| Q4 2025 | $4.4M | -86% |
| Q3 2025 | $7.8M | +$14.2M |
| Q2 2025 | $2.8M | -73% |
| Q1 2025 | $6.9M | -3.5% |
| Q4 2024 | $31.2M | +$39.8M |
BWB has the edge over IREN on cash generation, producing positive trailing cash flow while its opponent burns cash.
IREN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.6B | -$1.6B |
| Q2 2026 | $482.2M | +2895% |
| Q1 2026 | -$873.8M | -$523.1M |
| Q4 2025 | -$468M | -$334M |
| Q3 2025 | -$38M | +$349.4M |
| Q2 2025 | $16.1M | +$179M |
| Q1 2025 | -$350.7M | -$128.7M |
| Q4 2024 | -$134M | -$105.2M |
IREN's free cash flow was −$2.5B over the past year, against −$507M the year before. Free cash flow isn't a meaningful measure for financial services companies like IREN.
BWB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.7% | +207K shares |
| 1 year | +2.1% | +606K shares |
| 3 years | +1.7% | +485K shares |
| 5 years | -1.1% | -314K shares |
| Available history | -4% | -1.2M shares |
BWB has the edge over IREN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $1.6M |
| Q1 2025 | $621,000 |
| Q4 2024 | $17,000 |
| Q3 2024 | — |
| Q2 2024 | $2.9M |
IREN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +26% | +82.4M shares |
| 1 year | +10% | +36.9M shares |
| 3 years | +511% | +333M shares |
| 5 years | +624% | +344M shares |
| Available history | +2346% | +382M shares |
IREN has 399M diluted shares, up 10% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
BWB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.0x | Elevated |
| Q2 2026 | 3.5x | Elevated |
| Q1 2026 | 3.1x | Elevated |
| Q4 2025 | 6.2x | High |
| Q3 2025 | 6.8x | High |
| Q2 2025 | 5.7x | High |
| Q1 2025 | 5.5x | High |
| Q4 2024 | 4.6x | High |
BWB's net debt is about 3.0 years of its operating earnings (EBITDA), down from 6.8 years a year ago. Net leverage isn't a meaningful measure for financial services companies like BWB.
IREN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q1 2026 | 157.6x | High |
| Q4 2025 | 22.2x | High |
| Q3 2025 | 4.1x | High |
| Q2 2025 | 2.0x | Moderate |
| Q1 2025 | 3.3x | Elevated |
| Q4 2024 | -4.6x | Net Cash |
| Q3 2024 | -16.7x | Net Cash |
| Q2 2024 | -15.9x | Net Cash |
IREN's net debt is more than 20 years of its operating earnings (EBITDA), up from 3.3 years a year ago. Net leverage isn't a meaningful measure for financial services companies like IREN.
BWB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 53.5 | Neutral |
| Stochastic | 24.5 | Neutral |
BWB's weekly RSI is 53 (neutral) and its Stochastic is 24 (neutral).
IREN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 33.3 | Neutral |
| Stochastic | 8.2 | Oversold |
IREN's weekly RSI is 33 (neutral) and its Stochastic is 8 (oversold).
BWB PE vs Financial Services Sector
| Metric | BWB | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 13x | 18% below |
| PE % | 38 | 63 | 25 pts below |
BWB is trading at 11x earnings, a 18% discount to the Financial Services sector's median of 13x.
IREN PE vs Financial Services Sector
| Metric | IREN | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
IREN has no meaningful PE right now: it lost money over the past year.
BWB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $20.5 | 1% above |
| 20 week MA | $21.1 | 1.6% below |
| 50 week MA | $19.6 | 6% above |
| 100 week MA | $17.4 | 19% above |
| 200 week MA | $14.7 | 41% above |
BWB has the edge over IREN on trend strength, trading above more of its moving averages.
IREN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $29.8 | 35% below |
| 20 week MA | $36.2 | 46% below |
| 50 week MA | $42.8 | 54% below |
| 100 week MA | $32.0 | 39% below |
| 200 week MA | $19.1 | 2.1% above |
IREN has fallen below most of its moving averages, though it's still 2.1% above its 200-week average.
BWB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $13.8 | $12.3 | -11% |
| 2021 | $12.3 | $17.3 | +40% |
| 2022 | $17.3 | $17.8 | +2.8% |
| 2023 | $17.8 | $13.5 | -24% |
| 2024 | $13.5 | $13.5 | -0.2% |
| 2025 | $13.5 | $18.0 | +34% |
| 2026 YTD | $18.0 | $20.7 | +15% |
BWB has the edge over IREN on returns for 2026, with the stronger performance.
IREN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $24.8 | $17.2 | -31% |
| 2022 | $17.2 | $1.19 | -93% |
| 2023 | $1.19 | $7.15 | +501% |
| 2024 | $7.15 | $10.7 | +50% |
| 2025 | $10.7 | $40.3 | +276% |
| 2026 YTD | $40.3 | $19.5 | -52% |
IREN's yearly returns have swung widely, from +501% in 2023 to −93% in 2022. It's down 52% so far in 2026.