IREN
IREN Limited
There isn't enough reported data to score IREN yet.
ONB
Old National Bancorp
ONB's fundamentals are strong: revenue grew 22% and its operating margin rose 10 points to 43%. At 10x earnings, it's trading below 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.
ONB Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
ONB'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 ONB.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
ONB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 9x | $22.15 | -11% |
| Forward | 9.2x | $24.94 | — |
| Current | 10x | $24.94 | — |
| Fair | 12x | $28.68 | +15% |
| Expensive | 14x | $34.10 | +37% |
Historical ranges are pointers, not guarantees.
ONB's PE is in its cheap range at 10x. If earnings grow as analysts expect, today's price would be 9.2x 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.
ONB Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect ONB'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.
ONB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.72 | +11% |
| Q3 2026 | $2.45 | +43% |
| Q2 2026 | $2.25 | +33% |
| Q1 2026 | $1.94 | +13% |
| Q4 2025 | $1.79 | +6.5% |
| Q3 2025 | $1.71 | +3.6% |
| Q2 2025 | $1.69 | -0.6% |
| Q1 2025 | $1.72 | -7% |
| Q4 2024 | $1.68 | -13% |
ONB 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.
ONB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $712.7M | +1.1% |
| Q2 2026 | $732.6M | +13% |
| Q1 2026 | $694.9M | +44% |
| Q4 2025 | $690.6M | +41% |
| Q3 2025 | $705.1M | +45% |
| Q2 2025 | $647.3M | +36% |
| Q1 2025 | $481.4M | +11% |
| Q4 2024 | $489.9M | +5.5% |
ONB's revenue has grown year over year for 10 quarters in a row: $713M last quarter, up 1.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 45% | +12 points |
| Q2 2026 | 44% | +20 points |
| Q1 2026 | 42% | +4.8 points |
| Q4 2025 | 39% | +1.3 points |
| Q3 2025 | 33% | -5.1 points |
| Q2 2025 | 24% | -8.8 points |
| Q1 2025 | 38% | +2.5 points |
| Q4 2024 | 38% | +1.7 points |
ONB 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.
ONB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $373.2M | +12% |
| Q2 2026 | $275.9M | +330% |
| Q1 2026 | $193.3M | +89% |
| Q4 2025 | $137.3M | -40% |
| Q3 2025 | $333.6M | +188% |
| Q2 2025 | $64.1M | -58% |
| Q1 2025 | $102.4M | +7% |
| Q4 2024 | $229M | +266% |
ONB 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 | — |
ONB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -2.4M shares |
| 1 year | -2.5% | -9.6M shares |
| 3 years | +31% | +89.2M shares |
| 5 years | +130% | +215M shares |
| Available history | +124% | +211M shares |
ONB has the edge over IREN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $100.3M |
| Q2 2026 | $115.3M |
| Q1 2026 | $104.1M |
| Q4 2025 | $25.1M |
| Q3 2025 | $25.2M |
| Q2 2025 | $8M |
| Q1 2025 | $13.5M |
| Q4 2024 | $139,000 |
ONB spent $345M buying back its own shares over the past year, about seven times what it spent 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.
ONB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.8x | Elevated |
| Q2 2026 | 4.8x | High |
| Q1 2026 | 5.1x | High |
| Q4 2025 | 5.5x | High |
| Q3 2025 | 5.6x | High |
| Q2 2025 | 6.2x | High |
| Q1 2025 | 5.1x | High |
| Q4 2024 | 5.3x | High |
ONB's net debt is about 3.8 years of its operating earnings (EBITDA), down from 5.6 years a year ago. Net leverage isn't a meaningful measure for financial services companies like ONB.
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).
ONB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.8 | Neutral |
| Stochastic | 28.1 | Neutral |
ONB's weekly RSI is 49 (neutral) and its Stochastic is 28 (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.
ONB PE vs Financial Services Sector
| Metric | ONB | Sector median | Relative |
|---|---|---|---|
| PE | 10x | 13x | 22% below |
| PE % | 28 | 63 | 35 pts below |
ONB is trading at 10x earnings, a 22% 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.
ONB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $25.0 | 0.4% below |
| 20 week MA | $25.7 | 3.1% below |
| 50 week MA | $24.4 | 2.1% above |
| 100 week MA | $23.0 | 8.4% above |
| 200 week MA | $19.8 | 26% above |
ONB 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.
ONB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $18.3 | $16.6 | -9.3% |
| 2021 | $16.6 | $17.9 | +8.1% |
| 2022 | $17.9 | $17.8 | -0.7% |
| 2023 | $17.8 | $16.9 | -5% |
| 2024 | $16.9 | $21.8 | +29% |
| 2025 | $21.8 | $23.0 | +5.6% |
| 2026 YTD | $23.0 | $24.9 | +8.5% |
ONB has the edge over IREN on returns for 2026, with the stronger performance.