IREN
IREN Limited
There isn't enough reported data to score IREN yet.
RYAN
Ryan Specialty Holdings, Inc.
There isn't enough reported data to score RYAN 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.
RYAN Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Stable | |
| N/A | |
| N/A |
RYAN's profitability is currently stable. There isn't enough data to rate its revenue. Free cash flow and net leverage aren't meaningful measures for financial services companies like RYAN.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
RYAN PE Valuation
RYAN 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.
RYAN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Growth | |
| Improving | |
| Moderate | |
| High |
RYAN has the edge over IREN on the outlook, with more favorable earnings expectations.
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 |
RYAN has the stronger earnings trend. Trailing diluted EPS is down 347% for IREN versus RYAN down 71%.
RYAN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.35 | +2037% |
| Q4 2025 | $0.11 | -71% |
| Q3 2025 | $0.13 | -75% |
| Q2 2025 | $0.12 | -68% |
| Q1 2025 | $0.10 | -78% |
| Q4 2024 | $0.38 | -45% |
| Q3 2024 | $0.51 | -24% |
| Q2 2024 | $0.37 | -55% |
| Q1 2024 | $0.46 | -41% |
RYAN's earnings per share have fallen from their peak: $0.11 over the past year, against $0.82 in mid-2023.
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% |
RYAN has the stronger quarterly revenue trend. Revenue is down 5.1% for IREN versus up 14% for RYAN.
| 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.
RYAN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $790M | +4.7% |
| Q4 2025 | $751.2M | +13% |
| Q3 2025 | $754.6M | +25% |
| Q2 2025 | $855.2M | +23% |
| Q1 2025 | $690.2M | +25% |
| Q4 2024 | $663.5M | +25% |
| Q3 2024 | $604.7M | +20% |
| Q2 2024 | $695.4M | +19% |
RYAN's revenue has grown year over year every quarter since early 2021: $790M last quarter, up 14% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 18% | -2.8 points |
| Q4 2025 | 18% | +7.6 points |
| Q3 2025 | 21% | +17 points |
| Q2 2025 | 16% | -3.6 points |
| Q1 2025 | 7.4% | -1.1 points |
| Q4 2024 | 10% | -0.7 points |
| Q3 2024 | 3.3% | -4.8 points |
| Q2 2024 | 20% | +3.4 points |
RYAN 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 |
RYAN has the stronger cash trend. Its trailing FCF is up 176% versus its history, compared with IREN at down 479%.
RYAN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $181.3M | +17% |
| Q4 2025 | $246M | +1.5% |
| Q3 2025 | $155.5M | +66% |
| Q2 2025 | $333.8M | +30% |
| Q1 2025 | -$159.6M | -$35.4M |
| Q4 2024 | $242.3M | +14% |
| Q3 2024 | $93.8M | -1.1% |
| Q2 2024 | $255.9M | -15% |
RYAN's free cash flow was $917M over the past year, up 112% from the year before. Free cash flow isn't a meaningful measure for financial services companies like RYAN.
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 RYAN 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 | — |
RYAN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -9.7% | -26.9M shares |
| 1 year | +100% | +126M shares |
| 3 years | +127% | +141M shares |
| 5 years | +136% | +145M shares |
RYAN has 252M diluted shares, up 100% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $150.1M |
| Q4 2025 | $3.5M |
| Q3 2025 | $82,000 |
| Q2 2025 | $13M |
| Q1 2025 | $1.7M |
| Q4 2024 | $83,000 |
| Q3 2024 | $82,000 |
| Q2 2024 | — |
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.
RYAN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2025 | 4.2x | High |
| Q3 2025 | 4.2x | High |
| Q2 2025 | 4.8x | High |
| Q1 2025 | 5.5x | High |
| Q4 2024 | 4.9x | High |
| Q3 2024 | 4.9x | High |
| Q2 2024 | 2.9x | Moderate |
| Q1 2024 | 3.1x | Elevated |
RYAN 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).
RYAN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 59.4 | Neutral |
| Stochastic | 78.4 | Neutral |
RYAN's weekly RSI is 59 (neutral) and its Stochastic is 78 (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.
RYAN PE vs Financial Services Sector
| Metric | RYAN | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
RYAN 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 fallen below most of its moving averages, though it's still 2.1% above its 200-week average.
RYAN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $41.8 | 10% above |
| 20 week MA | $41.9 | 10% above |
| 50 week MA | $41.0 | 12% above |
| 100 week MA | $52.3 | 12% below |
| 200 week MA | $51.7 | 11% below |
RYAN 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.
RYAN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $28.6 | $39.3 | +38% |
| 2022 | $39.3 | $40.6 | +3.1% |
| 2023 | $40.6 | $43.0 | +6.1% |
| 2024 | $43.0 | $64.0 | +49% |
| 2025 | $64.0 | $51.8 | -19% |
| 2026 YTD | $51.8 | $46.2 | -11% |
RYAN has the edge over IREN on returns for 2026, with the stronger performance.