FHN
First Horizon Corporation
FHN's fundamentals are weak and it looks expensive: trading at 17x earnings, above its usual 12x. Analysts expect earnings growth.
IREN
IREN Limited
There isn't enough reported data to score IREN yet.
FHN Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Healthy | |
| N/A | |
| N/A |
FHN's profitability is currently healthy, but its revenue is under pressure. Free cash flow and net leverage aren't meaningful measures for financial services companies like FHN.
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.
FHN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.8x | $10.71 | -54% |
| Forward | 10x | $23.41 | — |
| Fair | 12x | $16.07 | -31% |
| Expensive | 15x | $20.09 | -14% |
| Current | 17x | $23.41 | — |
Historical ranges are pointers, not guarantees.
FHN's PE is in its expensive range at 17x. If earnings grow as analysts expect, today's price would be 10x next year's earnings, in its fair range.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
FHN Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Stable | |
| Strongly improving | |
| Moderate | |
| Moderate |
Analysts expect FHN's earnings to grow and its profitability to improve, with its revenue 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.
FHN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.25 | +63% |
| Q3 2026 | $1.38 | -16% |
| Q2 2026 | $2.08 | +34% |
| Q1 2026 | $1.99 | +38% |
| Q4 2025 | $1.87 | +38% |
| Q3 2025 | $1.65 | +19% |
| Q2 2025 | $1.55 | +27% |
| Q1 2025 | $1.44 | 0% |
| Q4 2024 | $1.36 | -12% |
FHN 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.
FHN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $407M | -54% |
| Q2 2026 | $887M | +6.9% |
| Q1 2026 | $862M | +6.2% |
| Q4 2025 | $888M | +22% |
| Q3 2025 | $889M | +7.5% |
| Q2 2025 | $830M | +1.8% |
| Q1 2025 | $812M | -0.9% |
| Q4 2024 | $728M | -8.9% |
FHN's revenue has slid since its 2020 peak: $407M last quarter, down 54% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -24% | -63 points |
| Q2 2026 | 38% | +1.1 points |
| Q1 2026 | 40% | +4.6 points |
| Q4 2025 | 39% | +9.8 points |
| Q3 2025 | 39% | +4.7 points |
| Q2 2025 | 37% | +5.3 points |
| Q1 2025 | 35% | +4.1 points |
| Q4 2024 | 29% | +6.6 points |
FHN 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 FHN 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.
FHN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $594M | +$802M |
| Q2 2026 | $566M | +665% |
| Q1 2026 | $270M | -21% |
| Q4 2025 | $389M | +124% |
| Q2 2025 | $74M | +$224M |
| Q1 2025 | $340M | -59% |
| Q2 2024 | -$150M | -149% |
| Q1 2024 | $838M | +$907M |
FHN 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.
FHN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.3% | -6.3M shares |
| 1 year | -7.2% | -36.5M shares |
| 3 years | -16% | -87.6M shares |
| 5 years | -14% | -76M shares |
| Available history | +50% | +158M shares |
FHN has the edge over IREN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $4M |
| Q2 2026 | $121M |
| Q1 2026 | $235M |
| Q4 2025 | $335M |
| Q3 2025 | $190M |
| Q2 2025 | $28M |
| Q1 2025 | $365M |
| Q4 2024 | $164M |
FHN spent $695M buying back its own shares over the past year, down 7% from the year before.
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 | — |
FHN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.9x | Healthy |
| Q2 2026 | 1.4x | Healthy |
| Q1 2026 | 2.3x | Moderate |
| Q4 2025 | 1.7x | Healthy |
| Q4 2022 | 1.2x | Healthy |
| Q3 2022 | 0.2x | Very low |
| Q2 2022 | 0.7x | Very low |
| Q1 2022 | 0.4x | Very low |
FHN's net debt is about 1.9 years of its operating earnings (EBITDA), up from 1.1 years a year ago. Net leverage isn't a meaningful measure for financial services companies like FHN.
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.
FHN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 44.4 | Neutral |
| Stochastic | 23.9 | Neutral |
FHN's weekly RSI is 44 (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).
FHN PE vs Financial Services Sector
| Metric | FHN | Sector median | Relative |
|---|---|---|---|
| PE | 17x | 13x | 30% above |
| PE % | 100 | 63 | 37 pts above |
FHN is trading at 17x earnings, a 30% 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.
FHN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $23.3 | 0.7% above |
| 20 week MA | $24.4 | 4.2% below |
| 50 week MA | $24.2 | 3.3% below |
| 100 week MA | $22.5 | 4.1% above |
| 200 week MA | $18.9 | 24% above |
FHN 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.
FHN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $16.5 | $12.6 | -23% |
| 2021 | $12.6 | $16.0 | +26% |
| 2022 | $16.0 | $24.5 | +53% |
| 2023 | $24.5 | $14.2 | -42% |
| 2024 | $14.2 | $20.2 | +43% |
| 2025 | $20.2 | $24.5 | +21% |
| 2026 YTD | $24.5 | $23.4 | -4.5% |
FHN 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.