IREN
IREN Limited
There isn't enough reported data to score IREN yet.
UBS
UBS Group AG
There isn't enough reported data to score UBS 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.
UBS Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Strong | |
| N/A | |
| N/A |
UBS's profitability is currently strong. There isn't enough data to rate its revenue. Free cash flow and net leverage aren't meaningful measures for financial services companies like UBS.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
UBS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.4x | $17.70 | -63% |
| Fair | 9.8x | $23.26 | -52% |
| Forward | 11x | $48.44 | — |
| Current | 20x | $48.44 | — |
| Expensive | 21x | $49.06 | +1.3% |
Historical ranges are pointers, not guarantees.
UBS's PE is 20x, but its earnings don't support one, so it isn't a reliable read right now.
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.
UBS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
UBS 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.
UBS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.32 | +82% |
| Q4 2025 | $2.38 | +57% |
| Q2 2025 | $1.91 | +19000% |
| Q1 2025 | $1.53 | -81% |
| Q4 2024 | $1.52 | -81% |
| Q2 2024 | $0.01 | -100% |
| Q1 2024 | $8.18 | +317% |
| Q4 2023 | $7.98 | +255% |
| Q2 2023 | $9.86 | +340% |
UBS has the edge over IREN in the latest year-over-year earnings comparison.
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.
UBS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2025 | $24.9B | +3.9% |
| Q2 2025 | $18.3B | -0.2% |
| Q1 2025 | $18.9B | -3.4% |
| Q4 2024 | $24B | +6.3% |
| Q2 2024 | $18.3B | +33% |
| Q1 2024 | $19.6B | +71% |
| Q4 2023 | $22.6B | +39% |
| Q2 2023 | $13.8B | +58% |
UBS has the edge over IREN in the latest year-over-year revenue comparison.
| Quarter | Margin | YoY |
|---|---|---|
| Q4 2025 | 18% | +11 points |
| Q2 2025 | 12% | +1 points |
| Q1 2025 | 11% | +20 points |
| Q4 2024 | 12% | -168 points |
| Q2 2024 | 7.2% | -4.7 points |
| Q1 2024 | 11% | -15 points |
| Q4 2023 | -8.8% | -38 points |
| Q2 2023 | 180% | +153 points |
UBS's operating margin was 18% last quarter, up 11 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.
UBS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2025 | $5B | +$5.1B |
| Q1 2025 | $14.8B | +33% |
| Q2 2024 | -$186M | -100% |
| Q1 2024 | $11.1B | +$36.6B |
| Q2 2023 | $42.3B | +$51.8B |
| Q1 2023 | -$25.5B | -195% |
| Q2 2022 | -$9.5B | -$6.5B |
| Q1 2022 | $26.9B | +$26.9B |
UBS's free cash flow was $30.7B over the past year, down 10% from the year before. Free cash flow isn't a meaningful measure for financial services companies like UBS.
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 | — |
UBS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.5% | -16.3M shares |
| 1 year | -2.1% | -69M shares |
| 3 years | -9.3% | -337M shares |
| 5 years | -15% | -563M shares |
UBS has the edge over IREN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2025 | $619.1M |
| Q1 2025 | $1.3B |
| Q2 2024 | $813M |
| Q1 2024 | $969.1M |
| Q2 2023 | $78.1M |
| Q1 2023 | $2.2B |
| Q2 2022 | $1.6B |
| Q1 2022 | $1.9B |
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.
UBS Net Leverage
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).
UBS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.9 | Neutral |
| Stochastic | 20.3 | Neutral |
UBS's weekly RSI is 49 (neutral) and its Stochastic is 20 (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.
UBS PE vs Financial Services Sector
| Metric | UBS | Sector median | Relative |
|---|---|---|---|
| PE | 20x | 13x | 56% above |
| PE % | 83 | 63 | 20 pts above |
UBS is trading at 20x earnings, a 56% premium to the Financial Services sector's median of 13x, though its earnings don't support one.
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.
UBS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $47.9 | 1.1% above |
| 20 week MA | $51.0 | 5% below |
| 50 week MA | $46.9 | 3.4% above |
| 100 week MA | $40.9 | 18% above |
| 200 week MA | $33.8 | 43% above |
UBS 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.
UBS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $12.5 | $14.1 | +13% |
| 2021 | $14.1 | $17.8 | +27% |
| 2022 | $17.8 | $18.6 | +4.5% |
| 2023 | $18.6 | $30.9 | +66% |
| 2024 | $30.9 | $30.7 | -0.7% |
| 2025 | $30.7 | $47.3 | +54% |
| 2026 YTD | $47.3 | $48.4 | +2.5% |
UBS has the edge over IREN on returns for 2026, with the stronger performance.