IREN
IREN Limited
There isn't enough reported data to score IREN yet.
VMET
Versamet Royalties Corporation Common Stock
There isn't enough reported data to score VMET 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.
VMET Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Strong | |
| N/A | |
| N/A |
VMET'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 VMET.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
VMET PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 9.9x | $8.15 | — |
| Cheap | 10x | $8.40 | +3.1% |
| Fair | 12x | $9.88 | +21% |
| Expensive | 14x | $11.26 | +38% |
| Forward | 23x | $8.15 | — |
Historical ranges are pointers, not guarantees.
VMET's PE is 9.9x, 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.
VMET Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong growth | |
| Strong growth | |
| Strongly weakening | |
| Limited | |
| High |
Analysts expect strong earnings and revenue growth for VMET, but weaker profitability.
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.
VMET Earnings Per Share
VMET and IREN do not have enough comparable growth data to identify a winner.
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.
VMET Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $23.1M | +371% |
VMET has the edge over IREN in the latest year-over-year revenue comparison.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 46% | +60 points |
| Q1 2026 | 44% | N/A |
| Q4 2025 | 35% | N/A |
| Q3 2025 | 15% | N/A |
| Q2 2025 | -14% | N/A |
VMET 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.
VMET Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $14M | +508% |
VMET and IREN do not have enough comparable growth data to identify a winner.
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 the edge over VMET on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
VMET Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +6.5% | +3.2M shares |
| 1 year | +199% | +34.5M shares |
VMET has 52M diluted shares, up 199% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
VMET hasn't bought back shares in 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.
VMET Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 5.5x | High |
| Q1 2026 | 0.8x | Very low |
VMET has the edge over IREN on leverage, with a lower net debt burden relative to earnings.
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).
VMET Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 39.2 | Neutral |
| Stochastic | 19.3 | Oversold |
VMET's weekly RSI is 39 (neutral) and its Stochastic is 19 (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.
VMET PE vs Financial Services Sector
| Metric | VMET | Sector median | Relative |
|---|---|---|---|
| PE | 9.9x | 13x | 24% below |
VMET is trading at 9.9x earnings, a 24% discount 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 stronger trend alignment. IREN is above 1 of 5 weekly averages versus VMET above 0 of 2.
VMET Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $8.59 | 5.1% below |
| 20 week MA | $9.36 | 13% below |
VMET is in a downtrend: it's below all two of its weekly moving averages, and 13% below its 20-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.
VMET Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2026 YTD | $10.6 | $8.15 | -23% |
VMET has the edge over IREN on returns for 2026, with the stronger performance.