IREN
IREN Limited
There isn't enough reported data to score IREN yet.
SSBI
Summit State Bank
SSBI's fundamentals are mixed, but it looks expensive: trading at 35x earnings, about five times its usual 7.8x. Its downside scenario is more than ten times its upside.
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.
SSBI Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| N/A | |
| N/A |
SSBI's profitability is currently healthy, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like SSBI.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
SSBI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6x | $2.06 | -83% |
| Fair | 7.8x | $2.64 | -78% |
| Expensive | 11x | $3.65 | -70% |
| Current | 35x | $12.01 | — |
Historical ranges are pointers, not guarantees.
SSBI's PE is in its expensive range at 35x.
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.
SSBI Forward outlook
There aren't enough analyst estimates for SSBI 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.
SSBI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $0.34 | +$0.58 |
| Q1 2026 | $0.89 | +$1.35 |
| Q4 2025 | $1.01 | +$1.63 |
| Q3 2025 | -$0.21 | -129% |
| Q2 2025 | -$0.24 | -127% |
| Q1 2025 | -$0.46 | -138% |
| Q4 2024 | -$0.62 | -138% |
| Q3 2024 | $0.72 | -64% |
SSBI 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 has the edge over SSBI on sales, with more consistent year-over-year improvement.
| 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.
SSBI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $15M | -3.2% |
| Q1 2026 | $15.1M | -0.9% |
| Q4 2025 | $13M | -15% |
| Q3 2025 | $15.1M | -5.6% |
| Q2 2025 | $15.5M | +2.1% |
| Q1 2025 | $15.2M | -1.5% |
| Q4 2024 | $15.4M | +2.9% |
| Q3 2024 | $16M | -2.3% |
SSBI's revenue is shrinking: $15M last quarter, down 3.2% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -13% | -34 points |
| Q1 2026 | 15% | -5.3 points |
| Q4 2025 | 10% | +66 points |
| Q3 2025 | 8.4% | +3.2 points |
| Q2 2025 | 21% | +13 points |
| Q1 2025 | 20% | +7.2 points |
| Q4 2024 | -55% | -74 points |
| Q3 2024 | 5.2% | -10 points |
SSBI 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.
SSBI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $4.2M | +$4.2M |
| Q1 2026 | $3.8M | +$7M |
| Q4 2025 | $2.6M | +58% |
| Q3 2025 | $7.2M | +215% |
| Q2 2025 | -$66K | -106% |
| Q1 2025 | -$3.2M | -596% |
| Q4 2024 | $1.7M | +$2.7M |
| Q3 2024 | $2.3M | +$4.7M |
SSBI 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 | — |
SSBI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +13.3K shares |
| 1 year | +0.2% | +13.7K shares |
| 3 years | +0.7% | +47.5K shares |
| 5 years | +1% | +65.5K shares |
| Available history | +1% | +66.1K shares |
SSBI has the edge over IREN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $12,000 |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
SSBI hasn't bought back shares in the past year.
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.
SSBI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -33.1x | Net Cash |
| Q1 2026 | -12.9x | Net Cash |
| Q4 2025 | -6.4x | Net Cash |
| Q3 2024 | -10.3x | Net Cash |
| Q2 2024 | -3.4x | Net Cash |
| Q1 2024 | -0.3x | Net Cash |
| Q4 2023 | -3.3x | Net Cash |
| Q3 2023 | -4.2x | Net Cash |
SSBI 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).
SSBI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.2 | Neutral |
| Stochastic | 13.2 | Oversold |
SSBI's weekly RSI is 43 (neutral) and its Stochastic is 13 (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.
SSBI PE vs Financial Services Sector
| Metric | SSBI | Sector median | Relative |
|---|---|---|---|
| PE | 35x | 13x | 171% above |
| PE % | 99 | 63 | 36 pts above |
SSBI is trading at 35x earnings, a 171% 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.
SSBI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $12.0 | 0.1% below |
| 20 week MA | $12.6 | 4.4% below |
| 50 week MA | $12.9 | 7% below |
| 100 week MA | $11.4 | 5.4% above |
| 200 week MA | $11.8 | 2.1% above |
SSBI 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.
SSBI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $11.7 | $11.4 | -2.3% |
| 2021 | $11.4 | $15.4 | +35% |
| 2022 | $15.4 | $15.3 | -0.3% |
| 2023 | $15.3 | $12.3 | -20% |
| 2024 | $12.3 | $7.59 | -38% |
| 2025 | $7.59 | $11.8 | +55% |
| 2026 YTD | $11.8 | $12.0 | +2.2% |
SSBI has the edge over IREN on returns for 2026, with the stronger performance.