IREN
IREN Limited
There isn't enough reported data to score IREN yet.
SAFT
Safety Insurance Group, Inc.
SAFT's fundamentals are mixed, but it looks expensive: trading at 22x earnings, above its usual 16x.
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.
SAFT Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| N/A | |
| N/A |
SAFT's revenue and profitability are currently stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like SAFT.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
SAFT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 10x | $47.86 | -54% |
| Fair | 16x | $76.71 | -26% |
| Current | 22x | $104 | — |
| Expensive | 24x | $116 | +11% |
Historical ranges are pointers, not guarantees.
SAFT's PE is in its expensive range at 22x.
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.
SAFT Forward outlook
There aren't enough analyst estimates for SAFT to show an outlook.
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.
SAFT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $4.78 | -19% |
| Q2 2026 | $4.64 | -19% |
| Q1 2026 | $4.23 | -14% |
| Q4 2025 | $6.70 | +40% |
| Q3 2025 | $5.90 | +17% |
| Q2 2025 | $5.72 | +65% |
| Q1 2025 | $4.90 | +41% |
| Q4 2024 | $4.78 | +273% |
SAFT 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.
SAFT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $327.8M | +0.4% |
| Q2 2026 | $325.7M | +3% |
| Q1 2026 | $314.7M | +4.4% |
| Q4 2025 | $319.3M | +11% |
| Q3 2025 | $326.6M | +11% |
| Q2 2025 | $316.3M | +17% |
| Q1 2025 | $301.4M | +12% |
| Q4 2024 | $286.7M | +11% |
SAFT's revenue has grown year over year for 16 quarters in a row: $328M last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 12% | +0.6 points |
| Q2 2026 | 13% | +1.8 points |
| Q1 2026 | -5.7% | -15 points |
| Q4 2025 | 8% | +4.4 points |
| Q3 2025 | 11% | -0.1 points |
| Q2 2025 | 12% | +3.8 points |
| Q1 2025 | 9.4% | -0.2 points |
| Q4 2024 | 3.5% | -2.6 points |
SAFT 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.
SAFT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $56.7M | -34% |
| Q2 2026 | $37.7M | +17% |
| Q1 2026 | -$18.9M | -764% |
| Q4 2025 | $71.4M | +42% |
| Q3 2025 | $85.5M | +17% |
| Q2 2025 | $32.3M | +29% |
| Q1 2025 | $2.8M | +$27M |
| Q4 2024 | $50.3M | +45% |
SAFT 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 | — |
SAFT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +35.3K shares |
| 1 year | -1.3% | -185K shares |
| 3 years | -0.6% | -88.5K shares |
| 5 years | -3.2% | -486K shares |
| Available history | -4.9% | -744K shares |
SAFT has the edge over IREN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2023 | — |
| Q3 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | — |
| Q1 2022 | $14.6M |
| Q4 2020 | — |
| Q3 2020 | $17.9M |
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.
SAFT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.1x | Net Cash |
| Q2 2026 | -0.2x | Net Cash |
| Q1 2026 | -0.1x | Net Cash |
| Q4 2025 | -0.2x | Net Cash |
| Q3 2025 | -0.2x | Net Cash |
| Q2 2025 | -0.2x | Net Cash |
| Q1 2025 | -0.3x | Net Cash |
| Q4 2024 | -0.3x | Net Cash |
SAFT has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like SAFT.
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).
SAFT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 77.5 | Overbought |
| Stochastic | 81.8 | Overbought |
SAFT's weekly RSI is 77 (overbought) and its Stochastic is 82 (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.
SAFT PE vs Financial Services Sector
| Metric | SAFT | Sector median | Relative |
|---|---|---|---|
| PE | 22x | 13x | 68% above |
| PE % | 68 | 63 | 5 pts above |
SAFT is trading at 22x earnings, a 68% 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.
SAFT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $104.0 | 0.3% above |
| 20 week MA | $99.5 | 4.9% above |
| 50 week MA | $84.8 | 23% above |
| 100 week MA | $80.4 | 30% above |
| 200 week MA | $79.1 | 32% above |
SAFT 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.
SAFT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $92.5 | $77.8 | -16% |
| 2021 | $77.8 | $82.1 | +5.5% |
| 2022 | $82.1 | $88.8 | +8.1% |
| 2023 | $88.8 | $76.0 | -14% |
| 2024 | $76.0 | $82.0 | +7.9% |
| 2025 | $82.0 | $78.4 | -4.3% |
| 2026 YTD | $78.4 | $104.3 | +33% |
SAFT has the edge over IREN on returns for 2026, with the stronger performance.