IREN
IREN Limited
There isn't enough reported data to score IREN yet.
TRMK
Trustmark Corporation
TRMK's fundamentals are mixed: its operating margin held steady at 35%, while earnings per share grew 9.3%. At 12x earnings, it's trading right at its usual valuation. 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.
TRMK Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
TRMK's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like TRMK.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
TRMK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 11x | $42.45 | -11% |
| Forward | 11x | $47.84 | — |
| Fair | 12x | $48.11 | +0.6% |
| Current | 12x | $47.84 | — |
| Expensive | 15x | $60.55 | +27% |
Historical ranges are pointers, not guarantees.
TRMK's PE is in its fair range at 12x. If earnings grow as analysts expect, today's price would be 11x next year's earnings, in its cheap 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.
TRMK Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
TRMK 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 |
IREN has swung to a loss: it lost $3.96 per share over the past year, after a profit the year before.
TRMK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.21 | +5.6% |
| Q3 2026 | $3.99 | +9.3% |
| Q2 2026 | $3.93 | +11% |
| Q1 2024 | $2.56 | +68% |
| Q4 2023 | $2.70 | +131% |
| Q3 2023 | $1.57 | -27% |
| Q2 2023 | $1.70 | -5% |
| Q1 2023 | $1.52 | -24% |
| Q4 2022 | $1.17 | -50% |
TRMK 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.
TRMK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $207.1M | +2.4% |
| Q2 2026 | $208.2M | +4.8% |
| Q1 2026 | $202.9M | +4.2% |
| Q4 2025 | $204.1M | +3.7% |
| Q3 2025 | $202.4M | +5.3% |
| Q1 2025 | $194.6M | +3.4% |
| Q4 2024 | $196.8M | +5.5% |
| Q3 2024 | $192.3M | +0.7% |
TRMK's revenue has grown year over year for eight quarters in a row: $207M last quarter, up 2.4% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 34% | -0.5 points |
| Q2 2026 | 37% | +2.7 points |
| Q1 2026 | 34% | 0 points |
| Q4 2025 | 35% | +1.7 points |
| Q3 2025 | 34% | +2 points |
| Q2 2025 | 35% | N/A |
| Q1 2025 | 34% | +7.3 points |
| Q4 2024 | 33% | +9.7 points |
TRMK 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.
TRMK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $135.1M | +115% |
| Q2 2026 | $49.5M | +43% |
| Q1 2026 | $20.6M | -74% |
| Q4 2025 | $54.1M | -43% |
| Q3 2025 | $62.7M | +22% |
| Q1 2025 | $80.6M | +$144.2M |
| Q4 2024 | $95.3M | +67% |
| Q3 2024 | $51.2M | -48% |
TRMK 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 | — |
TRMK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.8% | -474K shares |
| 1 year | -3.8% | -2.3M shares |
| 3 years | -4.9% | -3M shares |
| 5 years | -8.2% | -5.2M shares |
| Available history | -10% | -6.5M shares |
TRMK has the edge over IREN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $20.1M |
| Q2 2026 | $21.1M |
| Q1 2026 | $19.8M |
| Q4 2025 | $43M |
| Q3 2025 | $11M |
| Q2 2025 | $11M |
| Q1 2025 | $15M |
| Q4 2023 | — |
TRMK spent $104M buying back its own shares over 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.
TRMK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.2x | Net Cash |
| Q2 2026 | -1.1x | Net Cash |
| Q1 2026 | -0.2x | Net Cash |
| Q4 2025 | -0.4x | Net Cash |
| Q3 2025 | -1.3x | Net Cash |
| Q2 2025 | 0.2x | Very low |
| Q1 2024 | -0.0x | Very low |
| Q4 2023 | -1.6x | Net Cash |
TRMK has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like TRMK.
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).
TRMK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 59.1 | Neutral |
| Stochastic | 32.7 | Neutral |
TRMK's weekly RSI is 59 (neutral) and its Stochastic is 33 (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.
TRMK PE vs Financial Services Sector
| Metric | TRMK | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 13x | 7.9% below |
| PE % | 47 | 63 | 16 pts below |
TRMK is trading at 12x earnings, in line with 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.
TRMK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $45.5 | 5.1% above |
| 20 week MA | $46.3 | 3.3% above |
| 50 week MA | $44.3 | 8.1% above |
| 100 week MA | $40.4 | 18% above |
| 200 week MA | $34.0 | 41% above |
TRMK 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.
TRMK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $34.5 | $27.3 | -21% |
| 2021 | $27.3 | $32.1 | +17% |
| 2022 | $32.1 | $34.7 | +8.4% |
| 2023 | $34.7 | $27.9 | -20% |
| 2024 | $27.9 | $35.9 | +29% |
| 2025 | $35.9 | $40.1 | +12% |
| 2026 YTD | $40.1 | $47.8 | +19% |
TRMK has the edge over IREN on returns for 2026, with the stronger performance.