IREN
IREN Limited
There isn't enough reported data to score IREN yet.
RLI
RLI Corp.
RLI's fundamentals are mixed: its operating margin rose 2 points to 25%, while revenue grew 4.6%. At 16x earnings, it's trading below its usual 19x. Analysts expect earnings to hold roughly steady.
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.
RLI Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
RLI'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 RLI.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
RLI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 12x | $51.93 | -25% |
| Current | 16x | $69.12 | — |
| Fair | 19x | $81.55 | +18% |
| Forward | 25x | $69.12 | — |
| Expensive | 31x | $134 | +94% |
Historical ranges are pointers, not guarantees.
RLI's PE is in its cheap range at 16x. On analysts' estimates for next year's earnings, today's price would be 25x, in its expensive range.
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.
RLI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Stable | |
| Stable | |
| Weakening | |
| Limited | |
| Moderate |
Analysts expect RLI's profitability to weaken, with its earnings and 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.
RLI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.73 | -36% |
| Q3 2026 | $4.30 | +13% |
| Q2 2026 | $4.77 | +37% |
| Q1 2026 | $4.29 | +41% |
| Q4 2025 | $4.37 | +17% |
| Q3 2025 | $3.81 | -16% |
| Q2 2025 | $3.49 | -4.6% |
| Q1 2025 | $3.04 | -16% |
| Q4 2024 | $3.74 | +13% |
RLI 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.
RLI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $477M | -6.3% |
| Q2 2026 | $575.6M | +15% |
| Q1 2026 | $423.9M | +4% |
| Q4 2025 | $465.7M | +6.1% |
| Q3 2025 | $509.3M | +8.4% |
| Q2 2025 | $499.8M | +20% |
| Q1 2025 | $407.7M | -8.4% |
| Q4 2024 | $439.1M | +1.3% |
RLI's revenue is growing: $477M last quarter, down 6.3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 21% | -9.9 points |
| Q2 2026 | 37% | +5.3 points |
| Q1 2026 | 16% | -3.4 points |
| Q4 2025 | 24% | +14 points |
| Q3 2025 | 31% | +6 points |
| Q2 2025 | 31% | +6.5 points |
| Q1 2025 | 19% | -17 points |
| Q4 2024 | 11% | -22 points |
RLI 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.
RLI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $192.4M | +8.2% |
| Q2 2026 | $142.4M | -18% |
| Q1 2026 | $41.8M | -59% |
| Q4 2025 | $155M | +21% |
| Q3 2025 | $177.8M | -19% |
| Q2 2025 | $173.4M | +25% |
| Q1 2025 | $102.5M | +47% |
| Q4 2024 | $127.6M | +4.9% |
RLI 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 | — |
RLI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +91K shares |
| 1 year | -0.1% | -59K shares |
| 3 years | +0.1% | +121K shares |
| 5 years | +1% | +873K shares |
| Available history | +1.9% | +1.7M shares |
RLI has the edge over IREN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $6.3M |
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.
RLI 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).
RLI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 65.5 | Neutral |
| Stochastic | 82.5 | Overbought |
RLI's weekly RSI is 65 (neutral) and its Stochastic is 83 (overbought).
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.
RLI PE vs Financial Services Sector
| Metric | RLI | Sector median | Relative |
|---|---|---|---|
| PE | 16x | 13x | 23% above |
| PE % | 27 | 63 | 36 pts below |
RLI is trading at 16x earnings, a 23% premium 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.
RLI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $62.0 | 12% above |
| 20 week MA | $62.2 | 11% above |
| 50 week MA | $59.6 | 16% above |
| 100 week MA | $65.5 | 5.5% above |
| 200 week MA | $68.1 | 1.5% above |
RLI 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.
RLI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $44.9 | $51.9 | +16% |
| 2021 | $51.9 | $54.7 | +5.4% |
| 2022 | $54.7 | $66.9 | +22% |
| 2023 | $66.9 | $66.6 | -0.4% |
| 2024 | $66.6 | $83.0 | +25% |
| 2025 | $83.0 | $64.7 | -22% |
| 2026 YTD | $64.7 | $69.1 | +6.8% |
RLI has the edge over IREN on returns for 2026, with the stronger performance.