FISI
Financial Institutions, Inc.
FISI's fundamentals are mixed, but it looks expensive: trading at 9.9x earnings, above its usual 7.4x. Analysts expect earnings growth.
IREN
IREN Limited
There isn't enough reported data to score IREN yet.
FISI Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Strong | |
| N/A | |
| N/A |
FISI's profitability is currently strong. There isn't enough data to rate its revenue. Free cash flow and net leverage aren't meaningful measures for financial services companies like FISI.
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.
FISI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 5.8x | $23.28 | -42% |
| Fair | 7.3x | $29.54 | -26% |
| Forward | 9.5x | $40.04 | — |
| Expensive | 9.9x | $39.80 | -0.6% |
| Current | 9.9x | $40.04 | — |
Historical ranges are pointers, not guarantees.
FISI's PE is in its expensive range at 9.9x. If earnings grow as analysts expect, today's price would be 9.5x next year's earnings.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
FISI Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
FISI 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.
FISI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.24 | +5.1% |
| Q3 2024 | $3.17 | -4.2% |
| Q2 2024 | $3.21 | -3% |
| Q1 2024 | $2.50 | -26% |
| Q4 2023 | $3.15 | -12% |
| Q3 2023 | $3.31 | -17% |
| Q2 2023 | $3.31 | -21% |
| Q1 2023 | $3.39 | -24% |
| Q4 2022 | $3.56 | -26% |
FISI has the stronger earnings trend. Trailing diluted EPS is up 27% for FISI versus IREN down 347%.
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.
FISI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $64.7M | +1.4% |
| Q2 2026 | $64.3M | +7.7% |
| Q1 2026 | $62.7M | +9.5% |
| Q3 2025 | $63.8M | +27% |
| Q2 2025 | $59.7M | -8.4% |
| Q1 2025 | $57.2M | +12% |
| Q3 2024 | $50.1M | -3.9% |
| Q2 2024 | $65.2M | +21% |
FISI's revenue has grown year over year for four quarters in a row: $65M last quarter, up 1.4% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 37% | -2.4 points |
| Q2 2026 | 40% | +3.8 points |
| Q1 2026 | 40% | +3.6 points |
| Q4 2025 | 37% | N/A |
| Q3 2025 | 40% | +11 points |
| Q2 2025 | 36% | -10 points |
| Q1 2025 | 36% | +31 points |
| Q3 2024 | 29% | -2.5 points |
FISI 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 FISI 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.
FISI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $31.8M | +$39.7M |
| Q2 2026 | $21.8M | +$29.1M |
| Q1 2026 | $23M | +151% |
| Q3 2025 | -$7.9M | -$7.6M |
| Q2 2025 | -$7.3M | -121% |
| Q1 2025 | $9.2M | -17% |
| Q3 2024 | -$299K | -101% |
| Q2 2024 | $34.7M | +341% |
FISI 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.
FISI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -39K shares |
| 1 year | -2.1% | -434K shares |
| 3 years | +29% | +4.5M shares |
| 5 years | +25% | +4M shares |
| Available history | +24% | +3.9M shares |
FISI has the edge over IREN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $7.7M |
| Q2 2026 | $65,000 |
| Q1 2026 | $6.1M |
| Q4 2025 | $10.9M |
| Q3 2025 | $34,000 |
| Q2 2025 | — |
| Q1 2025 | $481,000 |
| Q3 2024 | $26,000 |
FISI spent $25M buying back its own shares over the past year.
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 | — |
FISI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.3x | Healthy |
| Q2 2026 | 1.5x | Healthy |
| Q1 2026 | 1.0x | Healthy |
| Q4 2025 | 2.0x | Healthy |
| Q3 2024 | -1.0x | Net Cash |
| Q2 2024 | 2.5x | Moderate |
| Q1 2024 | 0.4x | Very low |
| Q4 2023 | 2.6x | Moderate |
FISI's net debt is about 1.3 years of its operating earnings (EBITDA), after holding more cash than debt a year ago. Net leverage isn't a meaningful measure for financial services companies like FISI.
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.
FISI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.7 | Neutral |
| Stochastic | 38.7 | Neutral |
FISI's weekly RSI is 57 (neutral) and its Stochastic is 39 (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).
FISI PE vs Financial Services Sector
| Metric | FISI | Sector median | Relative |
|---|---|---|---|
| PE | 9.9x | 13x | 24% below |
| PE % | 84 | 63 | 21 pts above |
FISI is trading at 9.9x earnings, a 24% 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.
FISI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $39.7 | 0.8% above |
| 20 week MA | $40.3 | 0.6% below |
| 50 week MA | $36.2 | 11% above |
| 100 week MA | $31.4 | 28% above |
| 200 week MA | $25.8 | 55% above |
FISI 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.
FISI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $32.0 | $22.5 | -30% |
| 2021 | $22.5 | $31.8 | +42% |
| 2022 | $31.8 | $24.5 | -23% |
| 2023 | $24.5 | $21.3 | -13% |
| 2024 | $21.3 | $27.0 | +27% |
| 2025 | $27.0 | $32.0 | +18% |
| 2026 YTD | $32.0 | $40.0 | +25% |
FISI 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.