CASH
Pathward Financial, Inc.
CASH's fundamentals are mixed: its operating margin held steady at 25%, but revenue fell 0.8%. Its PE isn't a useful guide right now because of how its recent earnings were reported.
IREN
IREN Limited
There isn't enough reported data to score IREN yet.
CASH Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| N/A | |
| N/A |
CASH's profitability is currently healthy, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like CASH.
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.
CASH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 7.8x | $75.02 | — |
| Cheap | 7.9x | $63.26 | -16% |
| Current | 9.2x | $75.02 | — |
| Fair | 10x | $79.89 | +6.5% |
| Expensive | 13x | $99.80 | +33% |
Historical ranges are pointers, not guarantees.
CASH's PE is 9.2x, but its earnings don't support one, so it isn't a reliable read right now.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
CASH Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
CASH has the edge over IREN on the outlook, with more favorable earnings expectations.
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.
CASH Earnings Per Share
CASH and IREN do not have enough comparable growth data to identify a winner.
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.
CASH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $189.6M | -3.1% |
| Q1 2026 | $276.3M | +0.5% |
| Q4 2025 | $173.1M | -5.2% |
| Q3 2025 | $186.7M | +4% |
| Q2 2025 | $195.8M | +11% |
| Q1 2025 | $274.8M | +11% |
| Q4 2024 | $182.6M | +12% |
| Q3 2024 | $179.5M | +12% |
CASH's revenue grew through 2024 and has held roughly level since: $190M last quarter, down 3.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 17% | -7.1 points |
| Q1 2026 | 32% | -1.7 points |
| Q4 2025 | 25% | +4.8 points |
| Q3 2025 | 26% | +5 points |
| Q2 2025 | 24% | -2.6 points |
| Q1 2025 | 33% | +0.6 points |
| Q4 2024 | 20% | -0.9 points |
| Q3 2024 | 21% | -0.1 points |
CASH 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.
CASH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $48.6M | +75% |
| Q1 2026 | $230.6M | +25% |
| Q4 2025 | $104.1M | +$177.9M |
| Q3 2025 | $300.3M | +116% |
| Q2 2025 | $27.7M | -73% |
| Q1 2025 | $184.7M | -3.4% |
| Q4 2024 | -$73.8M | -459% |
| Q3 2024 | $138.8M | +25% |
CASH 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.
CASH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2.6% | -554K shares |
| 1 year | -8.5% | -2M shares |
| 3 years | -20% | -5.3M shares |
| 5 years | -32% | -10.2M shares |
| Available history | -46% | -17.8M shares |
CASH 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 | — |
CASH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.2x | Very low |
| Q1 2026 | -0.4x | Net Cash |
| Q4 2025 | -1.0x | Net Cash |
| Q3 2025 | -0.3x | Net Cash |
| Q2 2025 | -0.4x | Net Cash |
| Q1 2025 | -0.8x | Net Cash |
| Q4 2024 | -2.2x | Net Cash |
| Q3 2024 | 1.0x | Very low |
CASH has the edge over IREN on leverage, with a lower net debt burden relative to earnings.
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.
CASH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 41.6 | Neutral |
| Stochastic | 27.2 | Neutral |
CASH's weekly RSI is 42 (neutral) and its Stochastic is 27 (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).
CASH PE vs Financial Services Sector
| Metric | CASH | Sector median | Relative |
|---|---|---|---|
| PE | 9.2x | 13x | 29% below |
| PE % | 37 | 63 | 26 pts below |
CASH is trading at 9.2x earnings, a 29% discount to the Financial Services sector's median of 13x, though its earnings don't support one.
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.
CASH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $74.6 | 0.6% above |
| 20 week MA | $80.8 | 7.2% below |
| 50 week MA | $83.3 | 10% below |
| 100 week MA | $79.4 | 5.6% below |
| 200 week MA | $66.9 | 12% above |
CASH 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.
CASH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $35.5 | $36.7 | +3.3% |
| 2021 | $36.7 | $57.8 | +58% |
| 2022 | $57.8 | $42.5 | -26% |
| 2023 | $42.5 | $52.9 | +25% |
| 2024 | $52.9 | $74.0 | +40% |
| 2025 | $74.0 | $73.4 | -0.8% |
| 2026 YTD | $73.4 | $75.0 | +2.2% |
CASH 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.