IREN
IREN Limited
There isn't enough reported data to score IREN yet.
SDEV
Stablecoin Development Corp.
There isn't enough reported data to score SDEV 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.
SDEV Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Healthy | |
| N/A | |
| N/A |
SDEV's profitability is currently healthy. There isn't enough data to rate its revenue. Free cash flow and net leverage aren't meaningful measures for financial services companies like SDEV.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
SDEV PE Valuation
SDEV 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.
SDEV Forward outlook
There aren't enough analyst estimates for SDEV 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 |
SDEV has the stronger earnings trend. Trailing diluted EPS is down 347% for IREN versus SDEV down 99%.
SDEV Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2025 | $2.30 | +$419.08 |
| Q2 2025 | $0.40 | +$478.93 |
| Q1 2025 | -$4.80 | +$689.13 |
| Q4 2024 | -$38.15 | +$778.28 |
| Q3 2024 | -$416.78 | +$929.13 |
| Q3 2021 | -$918.75 | +$1,286.25 |
| Q2 2021 | -$1,102.50 | +$735.00 |
| Q1 2021 | -$1,776.25 | $0.00 |
SDEV has returned to profit: it earned $2.30 per share over the past year, after losing money the year before.
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 stronger quarterly revenue trend. Revenue is down 5.1% for IREN versus down 7.3% for SDEV.
| 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.
SDEV Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.1M | +311% |
| Q3 2025 | $521K | -79% |
| Q4 2024 | $2.3M | -38% |
| Q3 2024 | $2.4M | -25% |
| Q2 2024 | $2.4M | -48% |
| Q1 2024 | $2.6M | -16% |
| Q4 2023 | $3.7M | +2.3% |
| Q3 2023 | $3.3M | -15% |
SDEV's revenue has slid since its 2023 peak: $2M last quarter, down 7.3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 2615% | +2856 points |
| Q2 2026 | -2441% | N/A |
| Q1 2026 | 905% | N/A |
| Q3 2025 | -241% | -198 points |
| Q4 2024 | -56% | +35 points |
| Q3 2024 | -43% | -9.3 points |
| Q2 2024 | -44% | -15 points |
| Q1 2024 | -93% | -37 points |
SDEV 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.
SDEV Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.1M | +$720K |
| Q2 2026 | -$6M | -$3M |
| Q1 2026 | -$1.8M | -$480K |
| Q4 2025 | -$2.3M | -$1.3M |
| Q3 2025 | -$1.8M | +$223K |
| Q2 2025 | -$3M | -$2.4M |
| Q1 2025 | -$1.3M | +$250K |
| Q4 2024 | -$972K | -$656K |
SDEV's free cash flow was −$11M over the past year, against −$7M the year before. Free cash flow isn't a meaningful measure for financial services companies like SDEV.
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 SDEV 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 | — |
SDEV Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +611% | +190M shares |
| 1 year | +18863% | +219M shares |
| 3 years | +1897320% | +221M shares |
| 5 years | +3852720% | +221M shares |
SDEV has 221M diluted shares, up 18863% from a year ago.
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.
SDEV 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).
SDEV Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.4 | Neutral |
| Stochastic | 1.7 | Oversold |
SDEV's weekly RSI is 45 (neutral) and its Stochastic is 2 (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.
SDEV PE vs Financial Services Sector
| Metric | SDEV | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
SDEV 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 SDEV on trend strength, trading above more of its moving averages.
SDEV Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.90 | 59% below |
| 20 week MA | $1.42 | 45% below |
| 50 week MA | $7.30 | 89% below |
| 100 week MA | $5.88 | 87% below |
| 200 week MA | $47.6 | 98% below |
SDEV is in a downtrend: it's below all five of its weekly moving averages, and 98% 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 SDEV on returns for 2026, with the stronger performance.
SDEV Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $4,026.6 | $4,471.3 | +11% |
| 2021 | $4,471.3 | $2,686.4 | -40% |
| 2022 | $2,686.4 | $248.5 | -91% |
| 2023 | $248.5 | $35.7 | -86% |
| 2024 | $35.7 | $2.88 | -92% |
| 2025 | $2.88 | $24.3 | +742% |
| 2026 YTD | $24.3 | $0.78 | -97% |
SDEV's yearly returns have swung widely, from +742% in 2025 to −92% in 2024. It's down 97% so far in 2026.