IREN
IREN Limited
There isn't enough reported data to score IREN yet.
MTB
M&T Bank Corporation
MTB's fundamentals are mixed: earnings per share grew 18%, while revenue grew 4%. At 12x earnings, it's trading in line with its usual 12x. Analysts expect earnings growth.
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.
MTB Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
MTB's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like MTB.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
MTB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 9.1x | $174 | -21% |
| Forward | 11x | $220 | — |
| Fair | 12x | $230 | +4.8% |
| Current | 12x | $220 | — |
| Expensive | 14x | $269 | +22% |
Historical ranges are pointers, not guarantees.
MTB's PE is in its fair range at 12x. If earnings grow as analysts expect, today's price would be 11x next year's earnings.
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.
MTB Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect MTB's earnings to grow and its profitability to improve, with its revenue holding steady.
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.
MTB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $20.37 | +6.6% |
| Q3 2026 | $19.11 | +18% |
| Q2 2026 | $18.89 | +22% |
| Q1 2026 | $17.81 | +19% |
| Q4 2025 | $17.00 | +16% |
| Q3 2025 | $16.25 | +20% |
| Q2 2025 | $15.45 | +15% |
| Q1 2025 | $14.94 | +0.9% |
| Q4 2024 | $14.64 | -7.3% |
MTB has the edge over IREN on earnings quality, reporting a profit while its opponent remains loss making.
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.
MTB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.5B | +0.9% |
| Q2 2026 | $2.5B | +5.7% |
| Q1 2026 | $2.4B | +5.9% |
| Q4 2025 | $2.5B | +3.8% |
| Q3 2025 | $2.5B | +7.8% |
| Q2 2025 | $2.4B | +4.1% |
| Q1 2025 | $2.3B | +2% |
| Q4 2024 | $2.4B | +3.7% |
MTB's revenue has grown year over year for eight quarters in a row: $2.5B last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 40% | -1 points |
| Q2 2026 | 42% | +3 points |
| Q1 2026 | 35% | +2.4 points |
| Q4 2025 | 39% | +2.3 points |
| Q3 2025 | 41% | +1.8 points |
| Q2 2025 | 39% | +1.9 points |
| Q1 2025 | 33% | +3.6 points |
| Q4 2024 | 37% | +9.8 points |
MTB has the edge over IREN on profitability, with a higher operating margin.
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.
MTB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.3B | +25% |
| Q2 2026 | $1.3B | +50% |
| Q1 2026 | $1B | +59% |
| Q4 2025 | $523M | -69% |
| Q3 2025 | $1B | +$1B |
| Q2 2025 | $844M | -38% |
| Q1 2025 | $635M | +4.4% |
| Q3 2024 | -$28M | -102% |
MTB has the edge over IREN on cash generation, producing positive trailing cash flow while its opponent burns cash.
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 | — |
MTB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.1% | -1.6M shares |
| 1 year | -7.3% | -11.4M shares |
| 3 years | -13% | -21.4M shares |
| 5 years | +13% | +16.3M shares |
| Available history | +8% | +10.7M shares |
MTB has the edge over IREN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $319M |
| Q2 2026 | $460M |
| Q1 2026 | $1.2B |
| Q4 2025 | $502M |
| Q3 2025 | $404M |
| Q2 2025 | $1.1B |
| Q1 2025 | $656M |
| Q4 2024 | $198M |
MTB spent $2.5B buying back its own shares over the past year, up 8.3% from the year before.
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.
MTB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.3x | High |
| Q2 2026 | 3.8x | Elevated |
| Q1 2026 | 4.2x | High |
| Q4 2025 | 2.8x | Moderate |
| Q3 2025 | 3.3x | Elevated |
| Q2 2025 | 3.2x | Elevated |
MTB's net debt is about 4.3 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 MTB.
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).
MTB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.0 | Neutral |
| Stochastic | 17.4 | Oversold |
MTB's weekly RSI is 45 (neutral) and its Stochastic is 17 (oversold).
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.
MTB PE vs Financial Services Sector
| Metric | MTB | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 13x | 12% below |
| PE % | 39 | 63 | 24 pts below |
MTB is trading at 12x earnings, a 12% discount to the Financial Services sector's median of 13x.
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.
MTB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $219.1 | 0.3% above |
| 20 week MA | $233.4 | 5.8% below |
| 50 week MA | $222.2 | 1.1% below |
| 100 week MA | $204.8 | 7.3% above |
| 200 week MA | $175.3 | 25% above |
MTB has the edge over IREN on trend strength, trading above more of its moving averages.
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.
MTB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $169.6 | $125.0 | -26% |
| 2021 | $125.0 | $151.0 | +21% |
| 2022 | $151.0 | $144.6 | -4.2% |
| 2023 | $144.6 | $137.1 | -5.2% |
| 2024 | $137.1 | $189.2 | +38% |
| 2025 | $189.2 | $207.3 | +9.5% |
| 2026 YTD | $207.3 | $219.8 | +6% |
MTB has the edge over IREN on returns for 2026, with the stronger performance.