IREN
IREN Limited
There isn't enough reported data to score IREN yet.
VBNK
VersaBank
VBNK's fundamentals are mixed: revenue grew 68%, but its operating margin fell 16 points to 23%. Its PE isn't a useful guide right now because of how its recent earnings were reported.
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.
VBNK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| N/A | |
| N/A |
VBNK's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like VBNK.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
VBNK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8.7x | $5.74 | -76% |
| Fair | 13x | $8.48 | -65% |
| Expensive | 24x | $15.56 | -35% |
| Current | 36x | $23.97 | — |
Historical ranges are pointers, not guarantees.
VBNK's PE is 36x, 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.
VBNK Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| High |
VBNK 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 |
VBNK has the stronger earnings trend. Trailing diluted EPS is down 347% for IREN versus VBNK down 15%.
VBNK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $0.66 | -15% |
| Q1 2026 | $0.69 | -24% |
| Q4 2025 | $0.64 | -39% |
| Q3 2025 | $0.66 | -46% |
| Q2 2025 | $0.78 | -38% |
| Q1 2025 | $0.91 | -24% |
| Q4 2024 | $1.05 | -4.5% |
| Q3 2024 | $1.23 | +32% |
VBNK's earnings per share have fallen from their peak: $0.66 over the past year, against $1.25 in early 2024. Its recent earnings include one-off gains.
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% |
VBNK has the stronger quarterly revenue trend. Revenue is down 5.1% for IREN versus up 184% for VBNK.
| 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.
VBNK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $60.2M | +184% |
| Q1 2026 | $25.7M | +31% |
| Q4 2025 | $24.7M | +29% |
| Q3 2025 | $22.2M | +17% |
| Q2 2025 | $21.2M | +5.7% |
| Q1 2025 | $19.6M | -3.5% |
| Q4 2024 | $19.2M | -6.5% |
| Q3 2024 | $19M | +0.5% |
VBNK's revenue has grown year over year for five quarters in a row: $60M last quarter, up 184% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 12% | -27 points |
| Q1 2026 | 42% | +1.9 points |
| Q4 2025 | 28% | -1.4 points |
| Q3 2025 | 28% | -22 points |
| Q2 2025 | 39% | -18 points |
| Q1 2025 | 40% | -19 points |
| Q4 2024 | 30% | -28 points |
| Q3 2024 | 50% | -1.5 points |
VBNK's operating margin was 12% last quarter, down 27 points from the same quarter a year ago, near the bottom of its range since 2019.
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 |
VBNK has the stronger cash trend. Its trailing FCF is up 309% versus its history, compared with IREN at down 479%.
VBNK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$35M | +$34.4M |
| Q1 2026 | $39M | +$102.6M |
| Q4 2025 | $34.5M | -68% |
| Q3 2025 | $129.1M | +117% |
| Q2 2025 | -$69.4M | -296% |
| Q1 2025 | -$63.6M | -$39.7M |
| Q4 2024 | $107.8M | +113% |
| Q3 2024 | $59.5M | +$152.7M |
VBNK's free cash flow was $168M over the past year, about five times what it generated the year before. Free cash flow isn't a meaningful measure for financial services companies like VBNK.
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 | — |
VBNK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +123K shares |
| 1 year | -1.3% | -427K shares |
| 3 years | +23% | +5.9M shares |
| 5 years | +52% | +11M shares |
| Available history | +52% | +11M shares |
VBNK has the edge over IREN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
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.
VBNK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2021 | -5.3x | Net Cash |
| Q3 2021 | -6.4x | Net Cash |
| Q2 2021 | -5.9x | Net Cash |
| Q1 2021 | -7.1x | Net Cash |
| Q4 2020 | -8.6x | Net Cash |
| Q3 2020 | -11.8x | Net Cash |
| Q2 2020 | -11.0x | Net Cash |
| Q1 2020 | -3.2x | Net Cash |
VBNK has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like VBNK.
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).
VBNK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 64.9 | Neutral |
| Stochastic | 76.8 | Neutral |
VBNK's weekly RSI is 65 (neutral) and its Stochastic is 77 (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.
VBNK PE vs Financial Services Sector
| Metric | VBNK | Sector median | Relative |
|---|---|---|---|
| PE | 36x | 13x | 177% above |
| PE % | 100 | 66 | 34 pts above |
VBNK is trading at 36x earnings, a 177% 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.
VBNK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $22.8 | 5.2% above |
| 20 week MA | $21.7 | 11% above |
| 50 week MA | $18.4 | 30% above |
| 100 week MA | $15.1 | 59% above |
| 200 week MA | $12.5 | 91% above |
VBNK 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.
VBNK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $10.4 | $11.9 | +15% |
| 2022 | $11.9 | $7.67 | -35% |
| 2023 | $7.67 | $11.0 | +43% |
| 2024 | $11.0 | $13.6 | +24% |
| 2025 | $13.6 | $15.0 | +10% |
| 2026 YTD | $15.0 | $24.0 | +60% |
VBNK has the edge over IREN on returns for 2026, with the stronger performance.