IREN
IREN Limited
There isn't enough reported data to score IREN yet.
WASH
Washington Trust Bancorp, Inc.
WASH's fundamentals are mixed: its operating margin rose 6 points to 34%, while earnings per share grew 25%. At 12x earnings, it's trading right at its usual valuation. Analysts expect earnings growth, though they disagree widely on how much.
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.
WASH Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Strong | |
| N/A | |
| N/A |
WASH'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 WASH.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
WASH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8.7x | $29.19 | -25% |
| Fair | 11x | $38.02 | -2.4% |
| Forward | 11x | $38.95 | — |
| Current | 12x | $38.95 | — |
| Expensive | 13x | $42.85 | +10% |
Historical ranges are pointers, not guarantees.
WASH'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.
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.
WASH Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Low |
WASH 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 |
WASH has the stronger earnings trend. Trailing diluted EPS is down 347% for IREN versus WASH up 25%.
WASH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.52 | +5.4% |
| Q3 2024 | $2.68 | -11% |
| Q2 2024 | $2.69 | -22% |
| Q1 2024 | $2.72 | -30% |
| Q4 2023 | $2.82 | -31% |
| Q3 2023 | $3.00 | -30% |
| Q2 2023 | $3.43 | -20% |
| Q1 2023 | $3.91 | -6% |
| Q4 2022 | $4.11 | -6.4% |
WASH's earnings per share have fallen from their peak: $3.34 over the past year, against $4.51 in early 2021.
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 has the edge over WASH on sales, with more consistent year-over-year improvement.
| 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.
WASH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $65M | +15% |
| Q2 2026 | $60.5M | +11% |
| Q1 2026 | $57.8M | -2.1% |
| Q3 2025 | $56.5M | +16% |
| Q2 2025 | $54.3M | +12% |
| Q1 2025 | $59.1M | +21% |
| Q3 2024 | $48.5M | -0.9% |
| Q2 2024 | $48.2M | +0.9% |
WASH's revenue is growing: $65M last quarter, up 15% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 38% | +13 points |
| Q2 2026 | 34% | +2 points |
| Q1 2026 | 28% | +1.3 points |
| Q4 2025 | 35% | N/A |
| Q3 2025 | 25% | -3.8 points |
| Q2 2025 | 32% | +2.9 points |
| Q1 2025 | 27% | -1.7 points |
| Q3 2024 | 29% | -0.3 points |
WASH 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.
WASH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $20.4M | -48% |
| Q2 2026 | $22M | +101% |
| Q1 2026 | $14.8M | +77% |
| Q3 2025 | $39.3M | +61% |
| Q2 2025 | $10.9M | +14% |
| Q1 2025 | $8.4M | +533% |
| Q3 2024 | $24.4M | -17% |
| Q2 2024 | $9.6M | +$32.4M |
WASH 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 | — |
WASH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +60K shares |
| 1 year | +0.1% | +21K shares |
| 3 years | +13% | +2.2M shares |
| 5 years | +10% | +1.8M shares |
| Available history | +10% | +1.8M shares |
WASH has the edge over IREN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q4 2025 | $629,000 |
| Q3 2025 | $6.4M |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | $73,000 |
| Q3 2023 | — |
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.
WASH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.2x | High |
| Q2 2026 | 5.8x | High |
| Q1 2026 | 7.7x | High |
| Q4 2025 | 8.4x | High |
| Q3 2024 | 18.7x | High |
| Q2 2024 | 24.6x | High |
| Q1 2024 | 19.3x | High |
| Q4 2023 | 18.0x | High |
WASH's net debt is about 4.2 years of its operating earnings (EBITDA), down from 19 years a year ago. Net leverage isn't a meaningful measure for financial services companies like WASH.
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).
WASH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 58.1 | Neutral |
| Stochastic | 52.2 | Neutral |
WASH's weekly RSI is 58 (neutral) and its Stochastic is 52 (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.
WASH PE vs Financial Services Sector
| Metric | WASH | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 13x | 10% below |
| PE % | 56 | 63 | 7 pts below |
WASH is trading at 12x earnings, a 10% discount to 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.
WASH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $38.3 | 1.6% above |
| 20 week MA | $38.5 | 1.2% above |
| 50 week MA | $35.1 | 11% above |
| 100 week MA | $32.1 | 21% above |
| 200 week MA | $31.2 | 25% above |
WASH 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.
WASH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $54.0 | $44.3 | -18% |
| 2021 | $44.3 | $56.4 | +27% |
| 2022 | $56.4 | $47.6 | -16% |
| 2023 | $47.6 | $32.4 | -32% |
| 2024 | $32.4 | $30.8 | -5% |
| 2025 | $30.8 | $30.2 | -1.8% |
| 2026 YTD | $30.2 | $39.0 | +29% |
WASH has the edge over IREN on returns for 2026, with the stronger performance.