IREN
IREN Limited
There isn't enough reported data to score IREN yet.
NAVI
Navient Corporation
NAVI's fundamentals are strong, but it looks expensive: trading at 11x earnings, about twice its usual 5.6x. Analysts expect earnings to decline, though they disagree widely on how much.
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.
NAVI Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| N/A | |
| N/A |
NAVI's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like NAVI.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
NAVI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 4.1x | $2.19 | -64% |
| Fair | 5.5x | $2.99 | -51% |
| Forward | 8.7x | $6.14 | — |
| Expensive | 11x | $5.99 | -2.5% |
| Current | 11x | $6.14 | — |
Historical ranges are pointers, not guarantees.
NAVI's PE is in its expensive range at 11x. On analysts' estimates for next year's earnings, today's price would be 8.7x.
IREN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
IREN has the edge over NAVI on the outlook, with more favorable revenue and profitability expectations.
NAVI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Decline | |
| Stable | |
| Strongly weakening | |
| Limited | |
| Low |
Analysts expect NAVI's earnings and profitability to decline, with its revenue holding steady. However, they disagree widely on these estimates.
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.
NAVI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.71 | +31% |
| Q3 2026 | $0.54 | +$1.06 |
| Q2 2026 | -$0.49 | -248% |
| Q1 2026 | -$0.62 | -219% |
| Q4 2025 | -$0.81 | -169% |
| Q3 2025 | -$0.52 | -168% |
| Q2 2025 | $0.33 | -77% |
| Q1 2025 | $0.52 | -68% |
| Q4 2024 | $1.18 | -36% |
NAVI 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 has the edge over NAVI on sales, with more consistent year-over-year improvement.
| 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.
NAVI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $317M | +97% |
| Q2 2026 | $150M | -3.8% |
| Q1 2026 | $152M | -2.6% |
| Q4 2025 | $137M | -39% |
| Q3 2025 | $161M | -59% |
| Q2 2025 | $156M | -37% |
| Q1 2025 | $156M | -46% |
| Q4 2024 | $223M | +0.5% |
NAVI's revenue is recovering but still below its 2021 peak: $317M last quarter, up 97% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 4.1% | +77 points |
| Q2 2026 | 26% | +15 points |
| Q1 2026 | 21% | +24 points |
| Q4 2025 | -5.1% | -17 points |
| Q3 2025 | -73% | -76 points |
| Q2 2025 | 12% | -7.9 points |
| Q1 2025 | -3.2% | -34 points |
| Q4 2024 | 12% | +28 points |
NAVI 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.
NAVI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $143M | +13% |
| Q1 2026 | -$47M | -166% |
| Q4 2025 | $174M | +2075% |
| Q3 2025 | $70M | +$80M |
| Q2 2025 | $126M | -55% |
| Q1 2025 | $71M | -61% |
| Q4 2024 | $8M | -97% |
| Q3 2024 | -$10M | -108% |
NAVI 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 | — |
NAVI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.1% | -1M shares |
| 1 year | -4.1% | -4M shares |
| 3 years | -22% | -27M shares |
| 5 years | -44% | -73M shares |
| Available history | -60% | -139M shares |
NAVI has the edge over IREN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $3M |
| Q1 2026 | $23M |
| Q4 2025 | $26M |
| Q3 2025 | $26M |
| Q2 2025 | $24M |
| Q1 2025 | $35M |
| Q4 2024 | $65M |
| Q3 2024 | $33M |
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.
NAVI Net Leverage
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).
NAVI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 29.4 | Oversold |
| Stochastic | 29.1 | Neutral |
NAVI's weekly RSI is 29 (oversold) and its Stochastic is 29 (neutral).
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.
NAVI PE vs Financial Services Sector
| Metric | NAVI | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 13x | 13% below |
| PE % | 85 | 63 | 22 pts above |
NAVI is trading at 11x earnings, a 13% 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 the edge over NAVI on trend strength, trading above more of its moving averages.
NAVI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $8.63 | 29% below |
| 20 week MA | $8.85 | 31% below |
| 50 week MA | $9.36 | 34% below |
| 100 week MA | $11.3 | 45% below |
| 200 week MA | $13.9 | 56% below |
NAVI is in a downtrend: it's below all five of its weekly moving averages, and 56% below its 200-week average.
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 has the edge over NAVI on returns for 2026, with the stronger performance.
NAVI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $13.7 | $9.77 | -29% |
| 2021 | $9.77 | $21.7 | +122% |
| 2022 | $21.7 | $16.5 | -24% |
| 2023 | $16.5 | $18.6 | +13% |
| 2024 | $18.6 | $13.1 | -30% |
| 2025 | $13.1 | $12.9 | -0.8% |
| 2026 YTD | $12.9 | $6.14 | -53% |
NAVI has finished lower in four of the last six years. It's down 53% so far in 2026.