FSBW
FS Bancorp, Inc.
FSBW's fundamentals are mixed, but it looks expensive: trading at 11x earnings, above its usual 8.0x. Analysts expect earnings to hold roughly steady.
IREN
IREN Limited
There isn't enough reported data to score IREN yet.
FSBW Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| N/A | |
| N/A |
FSBW'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 FSBW.
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.
FSBW PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6.9x | $26.31 | -39% |
| Fair | 8x | $30.39 | -30% |
| Expensive | 9.7x | $36.97 | -14% |
| Forward | 10x | $43.21 | — |
| Current | 11x | $43.21 | — |
Historical ranges are pointers, not guarantees.
FSBW's PE is in its expensive range at 11x. On analysts' estimates for next year's earnings, today's price would be 10x.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
FSBW Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Stable | |
| Growth | |
| Strongly weakening | |
| Limited | |
| Moderate |
Analysts expect FSBW's revenue to grow, but its profitability to weaken.
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.
FSBW Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.30 | +13% |
| Q3 2026 | $3.80 | -6.4% |
| Q2 2026 | $4.35 | +4.3% |
| Q1 2026 | $4.30 | -0.2% |
| Q4 2025 | $4.29 | -1.6% |
| Q3 2025 | $4.06 | -14% |
| Q2 2025 | $4.17 | -8.4% |
| Q1 2025 | $4.31 | -5.9% |
| Q4 2024 | $4.36 | -4.4% |
FSBW 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.
FSBW Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $41.9M | +6.6% |
| Q2 2026 | $38.8M | +4.1% |
| Q1 2026 | $37.9M | +5.1% |
| Q4 2025 | $40M | +12% |
| Q3 2025 | $39.3M | +5.6% |
| Q2 2025 | $37.3M | +2.8% |
| Q1 2025 | $36.1M | +1.8% |
| Q4 2024 | $35.7M | -0.5% |
FSBW's revenue has grown year over year for seven quarters in a row: $42M last quarter, up 6.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 15% | -15 points |
| Q2 2026 | 26% | -0.3 points |
| Q1 2026 | 26% | -0.1 points |
| Q4 2025 | 26% | -1.8 points |
| Q3 2025 | 30% | +3 points |
| Q2 2025 | 26% | -5.1 points |
| Q1 2025 | 26% | -3.5 points |
| Q4 2024 | 28% | -6.1 points |
FSBW 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.
FSBW Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $31.8M | -24% |
| Q2 2026 | $51.4M | +778% |
| Q1 2026 | $8.4M | +7.8% |
| Q4 2025 | -$3.4M | -108% |
| Q3 2025 | $41.6M | +$42.9M |
| Q2 2025 | $5.9M | -40% |
| Q1 2025 | $7.8M | +$7.9M |
| Q4 2024 | $40.7M | +229% |
FSBW 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.
FSBW Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +2.6% | +194K shares |
| 1 year | +0.7% | +54.3K shares |
| 3 years | -1.3% | -103K shares |
| 5 years | -9.1% | -770K shares |
| Available history | -15% | -1.4M shares |
FSBW has the edge over IREN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $2M |
| Q2 2026 | $3.6M |
| Q1 2026 | $620,000 |
| Q4 2025 | $1.5M |
| Q3 2025 | $4.9M |
| Q2 2025 | $5.2M |
| Q1 2025 | $3.8M |
| Q4 2024 | — |
FSBW spent $8M buying back its own shares over the past year, down 44% 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 | — |
FSBW Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 8.0x | High |
| Q2 2026 | 6.6x | High |
| Q1 2026 | 3.3x | Elevated |
| Q4 2025 | 5.3x | High |
| Q3 2025 | 2.2x | Moderate |
| Q2 2025 | 5.0x | High |
| Q1 2025 | 1.1x | Healthy |
| Q4 2024 | 12.0x | High |
FSBW's net debt is about 8.0 years of its operating earnings (EBITDA), up from 2.2 years a year ago. Net leverage isn't a meaningful measure for financial services companies like FSBW.
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.
FSBW Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.9 | Neutral |
| Stochastic | 50.9 | Neutral |
FSBW's weekly RSI is 51 (neutral) and its Stochastic is 51 (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).
FSBW PE vs Financial Services Sector
| Metric | FSBW | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 13x | 13% below |
| PE % | 99 | 63 | 36 pts above |
FSBW is trading at 11x earnings, a 13% 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.
FSBW Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $44.0 | 1.8% below |
| 20 week MA | $43.6 | 1% below |
| 50 week MA | $42.0 | 2.8% above |
| 100 week MA | $40.8 | 5.8% above |
| 200 week MA | $37.9 | 14% above |
FSBW 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.
FSBW Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $31.5 | $29.0 | -8.1% |
| 2021 | $29.0 | $33.2 | +15% |
| 2022 | $33.2 | $33.1 | -0.4% |
| 2023 | $33.1 | $37.0 | +12% |
| 2024 | $37.0 | $41.0 | +11% |
| 2025 | $41.0 | $42.2 | +2.8% |
| 2026 YTD | $42.2 | $43.2 | +2.5% |
FSBW 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.