BX
Blackstone Inc.
BX's fundamentals are strong and it looks cheap: trading at 26x earnings, below its usual 34x. Analysts expect strong earnings growth, though they disagree widely on how much.
IREN
IREN Limited
There isn't enough reported data to score IREN yet.
BX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
BX's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like BX.
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.
BX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 17x | $77.47 | -35% |
| Forward | 18x | $119 | — |
| Current | 26x | $119 | — |
| Fair | 34x | $151 | +27% |
| Expensive | 58x | $259 | +118% |
Historical ranges are pointers, not guarantees.
BX's PE is in its fair range at 26x. If earnings grow as analysts expect, today's price would be 18x next year's earnings, in its cheap range.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
BX Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for BX, with profitability holding steady. However, they disagree widely on these estimates.
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.
BX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.61 | +47% |
| Q3 2026 | $4.49 | +29% |
| Q2 2026 | $4.46 | +20% |
| Q1 2026 | $3.90 | +18% |
| Q4 2025 | $3.87 | +6.9% |
| Q3 2025 | $3.49 | +20% |
| Q2 2025 | $3.71 | +41% |
| Q1 2025 | $3.31 | +17% |
| Q4 2024 | $3.62 | +97% |
BX 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.
BX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3.1B | -0.8% |
| Q2 2026 | $5B | +36% |
| Q1 2026 | $3.6B | +10% |
| Q4 2025 | $4.4B | +41% |
| Q3 2025 | $3.1B | -16% |
| Q2 2025 | $3.7B | +33% |
| Q1 2025 | $3.3B | -11% |
| Q4 2024 | $3.1B | +140% |
BX's revenue is growing: $3.1B last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 47% | +3.6 points |
| Q2 2026 | 53% | +5 points |
| Q1 2026 | 37% | -4.9 points |
| Q4 2025 | 51% | -0.1 points |
| Q3 2025 | 43% | -4.9 points |
| Q2 2025 | 48% | +6.3 points |
| Q1 2025 | 42% | -9 points |
| Q4 2024 | 51% | +25 points |
BX 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 has the edge over BX on sales, with stronger typical year-over-year growth.
| 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.
BX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.9B | +22% |
| Q2 2026 | $1.9B | +125% |
| Q1 2026 | $957.6M | -11% |
| Q4 2025 | $1B | +599% |
| Q3 2025 | $1.6B | +31% |
| Q1 2025 | $1.1B | +17% |
| Q4 2024 | $149.5M | -83% |
| Q3 2024 | $1.2B | +18% |
BX 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.
BX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +82.9K shares |
| 1 year | +2.2% | +17.3M shares |
| 3 years | +5.5% | +41.9M shares |
| 5 years | +11% | +77.5M shares |
| Available history | +18% | +124M shares |
BX has the edge over IREN on shareholder dilution, with a more favorable share count trend.
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 | — |
BX Net Leverage
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.
BX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.4 | Neutral |
| Stochastic | 29.9 | Neutral |
BX's weekly RSI is 45 (neutral) and its Stochastic is 30 (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).
BX PE vs Financial Services Sector
| Metric | BX | Sector median | Relative |
|---|---|---|---|
| PE | 26x | 13x | 103% above |
| PE % | 35 | 63 | 28 pts below |
BX is trading at 26x earnings, a 103% premium 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.
BX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $115.7 | 2.5% above |
| 20 week MA | $125.6 | 5.6% below |
| 50 week MA | $127.7 | 7.2% below |
| 100 week MA | $142.1 | 17% below |
| 200 week MA | $130.3 | 9% below |
BX has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 9% below its 200-week average.
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.
BX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $56.1 | $65.0 | +16% |
| 2021 | $65.0 | $135.0 | +108% |
| 2022 | $135.0 | $74.9 | -45% |
| 2023 | $74.9 | $130.9 | +75% |
| 2024 | $130.9 | $174.0 | +33% |
| 2025 | $174.0 | $155.4 | -11% |
| 2026 YTD | $155.4 | $118.5 | -24% |
BX 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.