IREN
IREN Limited
There isn't enough reported data to score IREN yet.
PROP
Prairie Operating Co.
There isn't enough reported data to score PROP yet.
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.
PROP Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Weak | |
| N/A | |
| N/A |
PROP's profitability is currently weak. There isn't enough data to rate its revenue. Free cash flow and net leverage aren't meaningful measures for financial services companies like PROP.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
PROP PE Valuation
PROP has no meaningful PE right now: it lost money over the past year.
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.
PROP Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong decline | |
| Growth | |
| -- | |
| Limited | |
| Low |
Analysts expect PROP's revenue to grow, but its earnings to decline. 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.
PROP Earnings Per Share
PROP and IREN do not have enough comparable growth data to identify a winner.
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 PROP 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.
PROP Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $129.5M | +67% |
| Q2 2026 | $98.9M | +45% |
| Q1 2026 | $83.4M | +514% |
| Q3 2023 | $458K | +5657% |
| Q2 2023 | $179.3K | +7.6% |
| Q3 2022 | $8K | -95% |
| Q2 2022 | $166.6K | -27% |
| Q1 2022 | $385.1K | +1.6% |
PROP's revenue has grown year over year for nine quarters in a row: $130M last quarter, up 67% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -52% | -87 points |
| Q2 2026 | 130% | +103 points |
| Q1 2026 | -229% | -242 points |
| Q4 2025 | 21% | N/A |
| Q3 2025 | 35% | N/A |
| Q2 2025 | 28% | N/A |
| Q1 2025 | 13% | N/A |
| Q4 2023 | -807% | N/A |
PROP 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.
PROP Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $29.1M | -49% |
| Q1 2026 | $40M | +136% |
| Q4 2024 | -$3.7M | +$311.2K |
| Q4 2023 | -$4M | -$3.7M |
| Q3 2023 | -$2.9M | -$2.4M |
| Q4 2022 | -$306.1K | +$3M |
| Q3 2022 | -$448.3K | +$2.8M |
| Q4 2021 | -$3.3M | -$3.1M |
PROP's free cash flow was $170M over the past year, more than ten times what it generated the year before. Free cash flow isn't a meaningful measure for financial services companies like PROP.
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 the edge over PROP on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
PROP Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +11% | +19.7M shares |
| 1 year | +366% | +161M shares |
PROP has 205M diluted shares, up 366% from a year ago, despite $1M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $59,000 |
| Q1 2026 | $1.2M |
| Q4 2025 | $89,000 |
| Q3 2025 | $24,000 |
PROP spent $1M buying back its own shares over the past year.
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.
PROP Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 8.7x | High |
| Q4 2025 | 3.2x | Elevated |
| Q3 2025 | 5.3x | High |
| Q2 2025 | 14.7x | High |
PROP has the edge over IREN on leverage, with a lower net debt burden relative to earnings.
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).
PROP Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 36.7 | Neutral |
| Stochastic | 11.4 | Oversold |
PROP's weekly RSI is 37 (neutral) and its Stochastic is 11 (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.
PROP PE vs Financial Services Sector
PROP has no meaningful PE right now: it lost money over the past year.
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 PROP on trend strength, trading above more of its moving averages.
PROP Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $0.40 | 7.5% below |
| 20 week MA | $0.56 | 34% below |
| 50 week MA | $1.11 | 67% below |
| 100 week MA | $2.70 | 86% below |
| 200 week MA | $5.60 | 93% below |
PROP is in a downtrend: it's below all five of its weekly moving averages, and 93% 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 PROP on returns for 2026, with the stronger performance.
PROP Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $29.4 | $17.7 | -40% |
| 2021 | $17.7 | $86.8 | +392% |
| 2022 | $86.8 | $2.09 | -98% |
| 2023 | $2.09 | $9.51 | +355% |
| 2024 | $9.51 | $7.19 | -24% |
| 2025 | $7.19 | $1.57 | -78% |
| 2026 YTD | $1.57 | $0.37 | -76% |
PROP's yearly returns have swung widely, from +392% in 2021 to −98% in 2022. It's down 76% so far in 2026.