TenQ · fact sheet · as of 2026-08-26
IREN (IREN)
The business itself is the question here — 7 of 24 checks passed.
Full analysis: report · all charts. Every figure below is computed from SEC EDGAR XBRL filings. Prices delayed. Not investment advice.
Scores (checks passed)
- Value 0/4: Expensive against its own history and its sector (judged on sales — not yet profitable) — you're paying up for what you get.
- Future — not scored: No analyst coverage — so we show the reported growth trend below instead of a forecast. (no analyst coverage)
- Growth 2/4: Growth is weak or inconsistent — the trend, not the story, is the problem.
- Quality 1/5: Profitability is thin or negative — the growth isn't turning into money yet.
- Health 3/5: Financially sound overall, with one or two things worth watching.
- Momentum 1/6: The market is voting against it right now — a falling trend on most measures.
- Dividends — not scored: Not enough data to score this fairly — the checks below show exactly what's missing. (no dividend in the last three years)
Key figures
| Revenue (TTM) | $707M |
| Net income (TTM) | $-703M |
| Free cash flow (TTM) | $-898M |
| Gross margin | 68.9% |
| Operating margin | -148.0% |
| Return on equity | -16.8% |
| P/E | — |
| P/E, own 10-yr median | — |
| P/S | 16.8x |
| Debt / equity | 1.81x |
| Cash | $5.9B |
| Revenue growth (1y) | +41.1% |
| Revenue CAGR (3y) | +110.8% |
| Dividend yield | — |
Signature data points
- Revenue by segment: AI cloud is $34M of revenue vs $111M from mining — 23% of the business and climbing. chart →
- Gross margin by segment: AI cloud gross margin is 86% vs 68% for mining — every dollar that shifts is worth more. chart →
- Electricity cost by segment: Electricity is the miner's real cost of goods: $31M last quarter for mining alone — 87% of its cost of revenue. chart →
- Contracted backlog (RPO): $573M of revenue is contractually locked in — a forward signal straight from the filings, no analyst required. A further $9.7B contract was signed just after quarter-end. chart →
Insider activity (open-market, recent filings)
Buys: $0.00 · Sells: $67M detail →
Method: figures computed deterministically from SEC EDGAR XBRL (companyfacts, frames, financial-statement-and-notes datasets, Form 4). Scores count transparent pass/fail checks. Missing data is shown as missing, never estimated. © TenQ — cite with a link to this page.