IREN
IREN Limited
There isn't enough reported data to score IREN yet.
TPVG
TriplePoint Venture Growth BDC Corp.
There isn't enough reported data to score TPVG 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.
TPVG Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Healthy | |
| N/A | |
| N/A |
TPVG's profitability is currently healthy, but its revenue is under pressure. Free cash flow and net leverage aren't meaningful measures for financial services companies like TPVG.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
TPVG PE Valuation
TPVG 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 |
IREN has the edge over TPVG on the outlook, with more favorable revenue and profitability expectations.
TPVG Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Decline | |
| Decline | |
| Strongly weakening | |
| Limited | |
| Moderate |
Analysts expect TPVG's earnings and revenue to decline, with profitability weakening.
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 |
TPVG has the stronger earnings trend. Trailing diluted EPS is down 347% for IREN versus TPVG down 65%.
TPVG Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.81 | -14% |
| Q2 2022 | $1.61 | +16% |
| Q1 2022 | $2.68 | +59% |
| Q4 2021 | $2.48 | +118% |
| Q3 2021 | $2.18 | +79% |
| Q2 2021 | $1.39 | +247% |
| Q1 2021 | $1.69 | +152% |
| Q4 2020 | $1.14 | -12% |
TPVG's earnings per share have fallen from their peak: $0.94 over the past year, against $2.68 in early 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% |
TPVG has the stronger quarterly revenue trend. Revenue is down 5.1% for IREN versus up 48% for TPVG.
| 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.
TPVG Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2023 | $18.4M | +48% |
| Q3 2022 | $9.2M | -79% |
| Q1 2022 | $12.4M | -30% |
| Q4 2021 | $20.3M | +94% |
| Q3 2021 | $44.6M | +135% |
| Q2 2021 | $18.1M | -34% |
| Q1 2021 | $17.8M | +2396% |
| Q4 2020 | $10.5M | -13% |
TPVG's revenue is recovering but still below its 2021 peak: $18M last quarter, up 48% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q1 2023 | 42% | -4.3 points |
| Q3 2022 | 4.7% | -83 points |
| Q1 2022 | 46% | -21 points |
| Q4 2021 | 68% | +23 points |
| Q3 2021 | 87% | +11 points |
| Q2 2021 | 66% | -11 points |
| Q1 2021 | 67% | +786 points |
| Q4 2020 | 46% | -1.6 points |
TPVG's operating margin was 42% last quarter, down 46 points from the same quarter a year ago.
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.
TPVG Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $59.5M | +$129.5M |
| Q2 2026 | $16.8M | +$29.4M |
| Q1 2026 | -$6.4M | -$1.5M |
| Q4 2025 | $30.6M | -34% |
| Q3 2025 | -$70M | -696% |
| Q2 2025 | -$12.7M | -117% |
| Q1 2025 | -$4.9M | -127% |
| Q4 2024 | $46.6M | +8.1% |
TPVG 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 | — |
TPVG Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +108K shares |
| 1 year | +0.9% | +366K shares |
| 3 years | +15% | +5.2M shares |
| 5 years | +31% | +9.7M shares |
| Available history | +63% | +15.8M shares |
TPVG has the edge over IREN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | $55.3M |
| Q2 2022 | — |
| Q1 2022 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
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.
TPVG Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2022 | 90.7x | High |
| Q2 2022 | 10.3x | High |
| Q1 2022 | 5.2x | High |
| Q4 2021 | 5.4x | High |
| Q3 2021 | 4.8x | High |
| Q2 2021 | 5.3x | High |
| Q1 2021 | 4.3x | High |
| Q4 2020 | 6.3x | High |
TPVG's net debt is more than 20 years of its operating earnings (EBITDA), up from 4.8 years a year ago. Net leverage isn't a meaningful measure for financial services companies like TPVG.
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).
TPVG Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 33.3 | Neutral |
| Stochastic | 14.6 | Oversold |
TPVG's weekly RSI is 33 (neutral) and its Stochastic is 15 (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.
TPVG PE vs Financial Services Sector
| Metric | TPVG | Sector median | Relative |
|---|---|---|---|
| PE | 4.8x | 13x | 63% below |
| PE % | 7 | 63 | 56 pts below |
TPVG 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 TPVG on trend strength, trading above more of its moving averages.
TPVG Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $4.50 | 13% below |
| 20 week MA | $4.80 | 18% below |
| 50 week MA | $5.32 | 26% below |
| 100 week MA | $6.04 | 35% below |
| 200 week MA | $8.00 | 51% below |
TPVG is in a downtrend: it's below all five of its weekly moving averages, and 51% 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.
TPVG Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $14.2 | $13.1 | -7.8% |
| 2021 | $13.1 | $17.5 | +34% |
| 2022 | $17.5 | $11.1 | -36% |
| 2023 | $11.1 | $10.9 | -2.4% |
| 2024 | $10.9 | $7.31 | -33% |
| 2025 | $7.31 | $6.32 | -14% |
| 2026 YTD | $6.32 | $3.93 | -38% |
TPVG has the edge over IREN on returns for 2026, with the stronger performance.