IREN
IREN Limited
There isn't enough reported data to score IREN yet.
ZSTK
ZeroStack Corp.
There isn't enough reported data to score ZSTK 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.
ZSTK Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Weak | |
| N/A | |
| N/A |
ZSTK's revenue and profitability are currently under pressure. Free cash flow and net leverage aren't meaningful measures for financial services companies like ZSTK.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
ZSTK PE Valuation
ZSTK has no meaningful PE right now: it lost money over the past year.
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.
ZSTK Forward outlook
There aren't enough analyst estimates for ZSTK to show an outlook.
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 |
ZSTK has the stronger earnings trend. Trailing diluted EPS is down 347% for IREN versus ZSTK down 165%.
ZSTK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2023 | -$390.51 | +$207.12 |
| Q2 2023 | -$471.89 | +$114.27 |
| Q1 2023 | -$466.10 | -$75.87 |
| Q4 2022 | -$528.95 | -$173.32 |
ZSTK is still losing money, but less than at its worst: $390.51 per share over the past year, against $597.63 at its worst in late 2022.
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 ZSTK 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 has the edge over ZSTK on profitability, with a higher operating margin.
ZSTK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $13.7M | -7.7% |
| Q1 2026 | $7.3M | -38% |
| Q4 2025 | $9.4M | -30% |
| Q3 2025 | $9.7M | -22% |
| Q2 2025 | $14.8M | -5.7% |
| Q1 2025 | $11.8M | -35% |
| Q4 2024 | $13.3M | -26% |
| Q3 2024 | $12.5M | -28% |
ZSTK's revenue has slid since its 2023 peak: $14M last quarter, down 7.7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -177% | -160 points |
| Q1 2026 | -861% | -853 points |
| Q4 2025 | -1596% | -1551 points |
| Q3 2025 | -34% | -3.9 points |
| Q2 2025 | -17% | +5.2 points |
| Q1 2025 | -8.3% | +5.5 points |
| Q4 2024 | -45% | -3.4 points |
| Q3 2024 | -30% | -27 points |
ZSTK's operating margin was −177% last quarter, down 160 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 has the edge over ZSTK on cash flow, with more consistent year-over-year improvement.
ZSTK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $1.4M | +$4.3M |
| Q1 2026 | -$3.8M | -$1.1M |
| Q4 2025 | -$3.2M | -$1.8M |
| Q3 2025 | $91K | +$2.2M |
| Q2 2025 | -$3M | -$2.7M |
| Q1 2025 | -$2.8M | -$1.3M |
| Q4 2024 | -$1.3M | -$253K |
| Q3 2024 | -$2.1M | -510% |
ZSTK's free cash flow was −$6M over the past year, against −$9M the year before. Free cash flow isn't a meaningful measure for financial services companies like ZSTK.
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 ZSTK 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 | — |
ZSTK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +64% | +69.4K shares |
| 1 year | +99% | +88.8K shares |
ZSTK has 178,000 diluted shares, up 99% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2023 | — |
| Q3 2023 | — |
| Q4 2022 | — |
| Q3 2022 | $5,000 |
| Q2 2022 | — |
| Q1 2022 | — |
| Q4 2021 | — |
| Q3 2021 | — |
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.
ZSTK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q1 2023 | -0.9x | Net Cash |
ZSTK has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like ZSTK.
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).
ZSTK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 39.5 | Neutral |
| Stochastic | 11.0 | Oversold |
ZSTK's weekly RSI is 40 (neutral) 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.
ZSTK PE vs Financial Services Sector
ZSTK has no meaningful PE right now: it lost money over the past year.
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 ZSTK on trend strength, trading above more of its moving averages.
ZSTK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.58 | 30% below |
| 20 week MA | $3.32 | 24% below |
| 50 week MA | $5.44 | 54% below |
| 100 week MA | $14.8 | 83% below |
| 200 week MA | $53.8 | 95% below |
ZSTK is in a downtrend: it's below all five of its weekly moving averages, and 95% 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 has the edge over ZSTK on returns for 2026, with the stronger performance.
ZSTK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $3,159.0 | $1,560.0 | -51% |
| 2022 | $1,560.0 | $189.5 | -88% |
| 2023 | $189.5 | $52.7 | -72% |
| 2024 | $52.7 | $39.8 | -24% |
| 2025 | $39.8 | $7.28 | -82% |
| 2026 YTD | $7.28 | $2.51 | -66% |
ZSTK has finished every year since 2021 lower, and it's down 66% so far in 2026.