IREN
IREN Limited
There isn't enough reported data to score IREN yet.
TFIN
Triumph Financial, Inc.
TFIN's fundamentals are strong: its operating margin rose 10 points to 14% and earnings per share more than doubled. At 30x earnings, it's trading above its usual 25x. Analysts expect strong earnings growth, though they disagree widely on how much.
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.
TFIN Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| N/A | |
| N/A |
TFIN's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like TFIN.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
TFIN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 15x | $30.11 | -49% |
| Forward | 18x | $59.05 | — |
| Fair | 24x | $47.63 | -19% |
| Current | 30x | $59.05 | — |
| Expensive | 57x | $112 | +89% |
Historical ranges are pointers, not guarantees.
TFIN's PE is in its fair range at 30x. If earnings grow as analysts expect, today's price would be 18x next year's earnings.
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.
TFIN Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
TFIN 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 |
TFIN has the stronger earnings trend. Trailing diluted EPS is down 347% for IREN versus TFIN up 148%.
TFIN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.22 | +64% |
| Q4 2024 | $0.54 | -66% |
| Q3 2024 | $0.79 | -58% |
| Q2 2024 | $1.11 | -45% |
| Q1 2024 | $1.32 | -62% |
| Q4 2023 | $1.61 | -59% |
| Q3 2023 | $1.90 | -56% |
| Q2 2023 | $2.01 | -56% |
| Q1 2023 | $3.46 | -13% |
TFIN's earnings per share have fallen from their peak: $1.96 over the past year, against $4.62 in mid-2022.
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.
TFIN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $125.7M | +15% |
| Q2 2026 | $120.2M | +11% |
| Q1 2026 | $105.8M | +4.2% |
| Q4 2025 | $120.1M | +16% |
| Q3 2025 | $109.3M | +2.9% |
| Q2 2025 | $108.1M | +2.8% |
| Q1 2025 | $101.6M | +0.5% |
| Q4 2024 | $103.6M | -2.4% |
TFIN's revenue is recovering but still below its 2022 peak: $126M last quarter, up 15% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 15% | +14 points |
| Q2 2026 | 13% | +5.9 points |
| Q1 2026 | 7.7% | +7.6 points |
| Q4 2025 | 20% | +14 points |
| Q3 2025 | 1.2% | -4.8 points |
| Q2 2025 | 7.3% | +3.9 points |
| Q1 2025 | 0.1% | -4.6 points |
| Q4 2024 | 5.6% | -6.4 points |
TFIN 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.
TFIN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $21.3M | -5.3% |
| Q1 2026 | $3.3M | +$6.3M |
| Q4 2025 | $36.5M | -1.3% |
| Q3 2025 | $22.4M | +5.8% |
| Q1 2025 | -$3M | +$13M |
| Q4 2024 | $37M | +46% |
| Q3 2024 | $21.2M | +136% |
| Q2 2024 | $16.3M | +106% |
TFIN 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 | — |
TFIN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -3.1K shares |
| 1 year | +0.9% | +221K shares |
| 3 years | +2.9% | +686K shares |
| 5 years | -4.3% | -1.1M shares |
| Available history | -7.3% | -1.9M shares |
TFIN has the edge over IREN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $2.1M |
| Q1 2026 | $92,000 |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $2.1M |
| Q1 2025 | $128,000 |
| Q4 2024 | $1,000 |
TFIN spent $2M buying back its own shares over the past year, about the same as 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.
TFIN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -10.9x | Net Cash |
| Q2 2026 | -11.4x | Net Cash |
| Q1 2026 | -7.2x | Net Cash |
| Q4 2025 | 1.7x | Healthy |
| Q3 2025 | 4.8x | High |
| Q2 2025 | -0.7x | Net Cash |
| Q1 2025 | -5.3x | Net Cash |
| Q4 2024 | -4.8x | Net Cash |
TFIN has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like TFIN.
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).
TFIN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 36.6 | Neutral |
| Stochastic | 8.4 | Oversold |
TFIN's weekly RSI is 37 (neutral) and its Stochastic is 8 (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.
TFIN PE vs Financial Services Sector
| Metric | TFIN | Sector median | Relative |
|---|---|---|---|
| PE | 30x | 13x | 131% above |
| PE % | 58 | 63 | 5 pts below |
TFIN is trading at 30x earnings, a 131% 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 the edge over TFIN on trend strength, trading above more of its moving averages.
TFIN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $61.7 | 4.3% below |
| 20 week MA | $69.1 | 15% below |
| 50 week MA | $66.5 | 11% below |
| 100 week MA | $64.2 | 8% below |
| 200 week MA | $68.0 | 13% below |
TFIN is in a downtrend: it's below all five of its weekly moving averages, and 13% 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's yearly returns have swung widely, from +501% in 2023 to −93% in 2022. It's down 52% so far in 2026.
TFIN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $38.4 | $48.3 | +26% |
| 2021 | $48.3 | $113.1 | +134% |
| 2022 | $113.1 | $49.4 | -56% |
| 2023 | $49.4 | $80.2 | +62% |
| 2024 | $80.2 | $90.9 | +13% |
| 2025 | $90.9 | $64.0 | -30% |
| 2026 YTD | $64.0 | $59.1 | -7.8% |
TFIN has the edge over IREN on returns for 2026, with the stronger performance.