IREN
IREN Limited
There isn't enough reported data to score IREN yet.
XRN
Chiron Real Estate Inc.
XRN's fundamentals are mixed, but it looks cheap: trading at 7.6x earnings, less than half its usual 51x. Analysts expect losses to grow.
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.
XRN Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| N/A | |
| N/A |
XRN's profitability is currently healthy, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like XRN.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
XRN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 7.6x | $26.58 | — |
| Cheap | 36x | $127 | +378% |
| Fair | 50x | $173 | +550% |
| Expensive | 109x | $381 | +1335% |
Historical ranges are pointers, not guarantees.
XRN's PE is in its cheap range at 7.6x.
IREN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
IREN has the edge over XRN on the outlook, with more favorable revenue and profitability expectations.
XRN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Decline | |
| Strongly weakening | |
| Limited | |
| Moderate |
Analysts expect XRN's losses to grow, with revenue declining.
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.
XRN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $3.49 | +$3.74 |
| Q2 2026 | $3.71 | +960% |
| Q1 2026 | -$1.12 | -847% |
| Q4 2025 | -$0.91 | -1920% |
| Q3 2025 | -$0.25 | -$0.15 |
| Q2 2025 | $0.35 | +$0.35 |
| Q1 2025 | $0.15 | -87% |
| Q4 2024 | $0.05 | -96% |
XRN 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.
XRN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $40.3M | +8.3% |
| Q2 2026 | $39.7M | +4.7% |
| Q1 2026 | $38.1M | +10% |
| Q4 2025 | $38.4M | +9.2% |
| Q3 2025 | $37.2M | +8.7% |
| Q2 2025 | $38M | +11% |
| Q1 2025 | $34.6M | -1.4% |
| Q4 2024 | $35.2M | +6.7% |
XRN's revenue has grown year over year for six quarters in a row: $40M last quarter, up 8.3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 65% | N/A |
| Q2 2026 | 75% | N/A |
XRN 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.
XRN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $8.3M | -53% |
| Q2 2026 | $19.5M | -12% |
| Q1 2026 | $11.2M | -8.7% |
| Q4 2025 | $21.6M | +5.4% |
| Q3 2025 | $17.6M | +7.8% |
| Q2 2025 | $22.1M | +17% |
| Q1 2025 | $12.3M | -14% |
| Q4 2024 | $20.5M | +13% |
XRN 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 | — |
XRN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +5K shares |
| 1 year | -1.1% | -153K shares |
| 3 years | +1% | +127K shares |
| 5 years | +3.1% | +399K shares |
| Available history | +75% | +5.7M shares |
XRN has the edge over IREN on shareholder dilution, with a more favorable share count trend.
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.
XRN 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).
XRN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 25.3 | Oversold |
| Stochastic | 10.9 | Oversold |
XRN's weekly RSI is 25 (oversold) and its Stochastic is 11 (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.
XRN PE vs Financial Services Sector
| Metric | XRN | Sector median | Relative |
|---|---|---|---|
| PE | 7.6x | 13x | 41% below |
| PE % | 0 | 63 | 63 pts below |
XRN is trading at 7.6x earnings, a 41% 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 the edge over XRN on trend strength, trading above more of its moving averages.
XRN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $31.2 | 15% below |
| 20 week MA | $34.5 | 23% below |
| 50 week MA | $34.8 | 24% below |
| 100 week MA | $35.5 | 25% below |
| 200 week MA | $41.3 | 36% below |
XRN is in a downtrend: it's below all five of its weekly moving averages, and 36% below its 200-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.
XRN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $64.6 | $67.0 | +3.7% |
| 2021 | $67.0 | $85.8 | +28% |
| 2022 | $85.8 | $46.9 | -45% |
| 2023 | $46.9 | $55.5 | +18% |
| 2024 | $55.5 | $38.1 | -31% |
| 2025 | $38.1 | $33.5 | -12% |
| 2026 YTD | $33.5 | $26.6 | -21% |
XRN has the edge over IREN on returns for 2026, with the stronger performance.