IREN
IREN Limited
There isn't enough reported data to score IREN yet.
SPFI
South Plains Financial, Inc.
SPFI's fundamentals are mixed, but it looks expensive: trading at 11x earnings, above its usual 8.5x. Analysts expect earnings growth.
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.
SPFI Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
SPFI's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like SPFI.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
SPFI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.2x | $27.16 | -37% |
| Fair | 8.5x | $31.98 | -25% |
| Forward | 10x | $42.80 | — |
| Current | 11x | $42.80 | — |
| Expensive | 12x | $45.37 | +6% |
Historical ranges are pointers, not guarantees.
SPFI's PE is in its expensive range at 11x. If earnings grow as analysts expect, today's price would be 10x next year's earnings, in its fair 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.
SPFI Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for SPFI, with profitability 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.
SPFI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.08 | +8.2% |
| Q3 2026 | $3.77 | +7.7% |
| Q2 2026 | $3.67 | +15% |
| Q1 2026 | $3.57 | +19% |
| Q4 2025 | $3.44 | +18% |
| Q3 2025 | $3.50 | +37% |
| Q2 2025 | $3.20 | +19% |
| Q1 2025 | $3.00 | -20% |
| Q4 2024 | $2.92 | -19% |
SPFI 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.
SPFI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $65.3M | +20% |
| Q2 2026 | $64.5M | +18% |
| Q1 2026 | $54.1M | +10% |
| Q4 2025 | $53.9M | +3.9% |
| Q3 2025 | $54.2M | +13% |
| Q2 2025 | $54.7M | +12% |
| Q1 2025 | $49.2M | +5.1% |
| Q4 2024 | $51.9M | +17% |
SPFI's revenue has grown year over year for eight quarters in a row: $65M last quarter, up 20% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 40% | +2.3 points |
| Q2 2026 | 38% | +3.6 points |
| Q1 2026 | 34% | +2 points |
| Q4 2025 | 35% | -4.5 points |
| Q3 2025 | 38% | +8.3 points |
| Q2 2025 | 34% | +4.8 points |
| Q1 2025 | 32% | +2 points |
| Q4 2024 | 40% | +10 points |
SPFI 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.
SPFI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $30.5M | +36% |
| Q2 2026 | $26.8M | +106% |
| Q1 2026 | $14.8M | -41% |
| Q4 2025 | $11.4M | +262% |
| Q3 2025 | $22.5M | +31% |
| Q2 2025 | $13M | -24% |
| Q1 2025 | $25M | +34% |
| Q4 2024 | $3.1M | -52% |
SPFI 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 the edge over SPFI 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 | — |
SPFI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.1% | -208K shares |
| 1 year | +15% | +2.6M shares |
| 3 years | +13% | +2.2M shares |
| 5 years | +6.2% | +1.1M shares |
| Available history | +15% | +2.6M shares |
SPFI has 20M diluted shares, up 15% from a year ago, despite $13M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $12.8M |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $276,000 |
| Q1 2025 | $8.3M |
| Q4 2024 | — |
SPFI spent $13M buying back its own shares over the past year, up 51% from the year before.
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.
SPFI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -8.1x | Net Cash |
| Q2 2026 | -8.7x | Net Cash |
| Q1 2026 | -8.6x | Net Cash |
| Q4 2025 | -6.7x | Net Cash |
| Q3 2025 | -7.6x | Net Cash |
| Q2 2025 | -5.4x | Net Cash |
| Q1 2025 | -6.6x | Net Cash |
| Q4 2024 | -4.2x | Net Cash |
SPFI has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like SPFI.
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).
SPFI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 49.0 | Neutral |
| Stochastic | 45.1 | Neutral |
SPFI's weekly RSI is 49 (neutral) and its Stochastic is 45 (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.
SPFI PE vs Financial Services Sector
| Metric | SPFI | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 13x | 13% below |
| PE % | 71 | 63 | 8 pts above |
SPFI is trading at 11x earnings, a 13% discount 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.
SPFI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $43.0 | 0.5% below |
| 20 week MA | $43.9 | 2.4% below |
| 50 week MA | $42.3 | 1.2% above |
| 100 week MA | $39.3 | 9% above |
| 200 week MA | $33.5 | 28% above |
SPFI 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.
SPFI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $21.0 | $18.9 | -9.8% |
| 2021 | $18.9 | $26.9 | +42% |
| 2022 | $26.9 | $28.3 | +5.1% |
| 2023 | $28.3 | $29.0 | +2.5% |
| 2024 | $29.0 | $35.0 | +21% |
| 2025 | $35.0 | $39.6 | +13% |
| 2026 YTD | $39.6 | $42.8 | +8.2% |
SPFI has the edge over IREN on returns for 2026, with the stronger performance.