GCMG
GCM Grosvenor Inc.
GCMG's fundamentals are mixed: its operating margin rose 5 points to 27%, while revenue grew 6.6%. At 23x earnings, it's trading in line with its usual 24x. Analysts expect strong earnings growth.
IREN
IREN Limited
There isn't enough reported data to score IREN yet.
GCMG Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
GCMG's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like GCMG.
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.
GCMG PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 13x | $13.53 | — |
| Cheap | 23x | $13.18 | -2.6% |
| Current | 23x | $13.53 | — |
| Fair | 24x | $14.14 | +4.5% |
| Expensive | 29x | $16.79 | +24% |
Historical ranges are pointers, not guarantees.
GCMG's PE is in its cheap range at 23x. If earnings grow as analysts expect, today's price would be 13x next year's earnings.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
GCMG Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
GCMG 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.
GCMG Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.06 | +83% |
| Q1 2021 | $0.43 | +$1.02 |
| Q4 2020 | $0.22 | +$0.22 |
GCMG has the edge over IREN in the latest year-over-year earnings comparison.
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.
GCMG Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $145.6M | +7.8% |
| Q2 2026 | $134.3M | +12% |
| Q1 2026 | $124.8M | -0.8% |
| Q4 2025 | $177.1M | +7.2% |
| Q3 2025 | $135M | +9.8% |
| Q2 2025 | $119.7M | +2.3% |
| Q1 2025 | $125.8M | +16% |
| Q4 2024 | $165.3M | +42% |
GCMG's revenue is recovering but still below its 2021 peak: $146M last quarter, up 7.8% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 32% | -0.5 points |
| Q2 2026 | 26% | +10 points |
| Q1 2026 | 16% | +4.2 points |
| Q4 2025 | 31% | +4.5 points |
| Q3 2025 | 33% | +12 points |
| Q2 2025 | 16% | -1.7 points |
| Q1 2025 | 12% | +27 points |
| Q4 2024 | 26% | +15 points |
GCMG 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.
GCMG Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $91.9M | +17% |
| Q2 2026 | $36.3M | -11% |
| Q1 2026 | $47.9M | +49% |
| Q4 2025 | $23.9M | -35% |
| Q3 2025 | $78.3M | +26% |
| Q2 2025 | $40.8M | +218% |
| Q1 2025 | $32.1M | +60% |
| Q4 2024 | $37M | +53% |
GCMG 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.
GCMG Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.7% | +1.4M shares |
| 1 year | +3.8% | +7.5M shares |
| 3 years | +8.7% | +16.4M shares |
| 5 years | +414% | +165M shares |
GCMG has the edge over IREN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $2.2M |
| Q1 2026 | $17.5M |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
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 | — |
GCMG Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.0x | Healthy |
| Q2 2026 | 1.4x | Healthy |
| Q1 2026 | 1.4x | Healthy |
| Q4 2025 | 1.4x | Healthy |
| Q3 2025 | 2.0x | Healthy |
| Q2 2025 | 2.7x | Moderate |
| Q1 2025 | 3.1x | Elevated |
| Q4 2024 | 4.5x | High |
GCMG's net debt is about a year of its operating earnings (EBITDA), down from 1.9 years a year ago. Net leverage isn't a meaningful measure for financial services companies like GCMG.
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.
GCMG Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 59.6 | Neutral |
| Stochastic | 31.7 | Neutral |
GCMG's weekly RSI is 60 (neutral) and its Stochastic is 32 (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).
GCMG PE vs Financial Services Sector
| Metric | GCMG | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 13x | 79% above |
| PE % | 32 | 63 | 31 pts below |
GCMG is trading at 23x earnings, a 79% 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.
GCMG Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $12.9 | 5% above |
| 20 week MA | $13.1 | 3.5% above |
| 50 week MA | $11.8 | 14% above |
| 100 week MA | $12.1 | 11% above |
| 200 week MA | $10.6 | 28% above |
GCMG 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.
GCMG Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.2 | $13.6 | +33% |
| 2021 | $13.6 | $10.1 | -26% |
| 2022 | $10.1 | $7.84 | -22% |
| 2023 | $7.84 | $8.96 | +14% |
| 2024 | $8.96 | $12.2 | +36% |
| 2025 | $12.2 | $11.5 | -6.3% |
| 2026 YTD | $11.5 | $13.5 | +18% |
GCMG 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.