← Back to Index ← Back to Portfolios Overview

IREN

Updated: Mar 12, 2026 11:30 AM

IREN Ltd

Market Cap: $17.19B P/S: 72x Ownership — Insider: 4.1% | Institutional: 52.7% | Retail: 43.2% FINANCIAL SERVICES CAPITAL MARKETS

None

Revenue

Revenue, Profit & Income — explained by Jerry the Goat Farmer
Total RevenueEvery single dollar that wanders onto Jerry's farm. Cheese sales, milk money, goat yoga memberships, and that one weird guy who pays $50 to just watch the goats. Jerry doesn't ask questions.
Gross ProfitThe money left after feeding the goats but before reality sets in. Jerry feels rich for exactly 11 minutes.
Net IncomeWhat Jerry actually gets to keep after the Jerrynment, cousin Larry, the feed store, and his ex-wife's lawyer all take their cut. This number is often... humbling.
Using alias: revenuea -> totalRevenue [annual] [income]
Using alias: profita -> grossProfit [annual] [income]
Using alias: incomea -> netIncome [annual] [income]


Data Completeness:
------------------------------------------------------------
  ✅ totalRevenue                        7/7 dates (100%)
  ⚠️  grossProfit                         6/7 dates (86%)
  ✅ netIncome                           7/7 dates (100%)

Plot for IREN (in M)
  reports: annualReports
  showing last 25 entries
  Legend: totalRevenue, grossProfit, netIncome

               -501.02M                  -250.51M                    0.00M                    250.51M                   501.02M
               |                         |                         |                         |                         |

  2019-06-30 |                                                    █|  -0.16M ⊗
  2020-06-30 |                                                    █|  2.17M
  2021-06-30 |                                               ██████|  -60.39M
  2022-06-30 |         ████████████████████████████████████████████|█████  -419.77M
  2023-06-30 |                                   ██████████████████|███████  -171.83M
  2024-06-30 |                                                  ███|██████████████████  187.19M
  2025-06-30 |                                                     |███████████████████████████████████████████████████ 501.02M

               |                         |                         |                         |                         |
               -501.02M                  -250.51M                    0.00M                    250.51M                   501.02M

Costs

Operating Costs — explained by Jerry the Goat Farmer
Cost of Goods & Services SoldThe unglamorous stuff: hay, feed, vet bills for when Sergio the goat eats another iPhone. These goats don't feed themselves, and they definitely don't apologize.
Selling, General & AdministrativeThe "CHEESE HAPPENS" billboard on the highway, the accountant (cousin Larry, who definitely cheated in Monopoly as a kid), office supplies, and the therapy Jerry needs after dealing with cousin Larry.
Research & DevelopmentJerry's experimental ghost pepper goat cheese that made three customers cry. Also the goat treadmill. The goats refuse to use the goat treadmill.
Using alias: rnda -> researchAndDevelopment [annual] [income]
Using alias: sgaa -> sellingGeneralAndAdministrative [annual] [income]
Using alias: cogsa -> costofGoodsAndServicesSold [annual] [income]


Data Completeness:
------------------------------------------------------------
  ⚠️  SPARSE researchAndDevelopment              0/7 dates (0%)
  ✅ sellingGeneralAndAdministrative     7/7 dates (100%)
  ✅ costofGoodsAndServicesSold          7/7 dates (100%)

Plot for IREN (in M)
  reports: annualReports
  showing last 25 entries
  Legend: researchAndDevelopment, sellingGeneralAndAdministrative, costofGoodsAndServicesSold

               0.00M                    39.75M                    79.50M                    119.24M                   158.99M
               |                         |                         |                         |                         |

  2019-06-30 | █ 0.11M ⊗
  2020-06-30 | █ 0.92M ⊗
  2021-06-30 | █ 2.22M ⊗
  2022-06-30 | ██████ 8.63M ⊗
  2023-06-30 | ███████████████████████████████ 47.44M ⊗
  2024-06-30 | █████████████████████████████████████████████████████████ 87.07M ⊗
  2025-06-30 | ████████████████████████████████████████████████████████████████████████████████████████████████████████ 158.99M ⊗

               |                         |                         |                         |                         |
               0.00M                    39.75M                    79.50M                    119.24M                   158.99M

Cash

Cash, Debt & Cash Flow — explained by Jerry the Goat Farmer
Cash & Short-Term InvestmentsThe coffee can buried behind the barn, $47 in a savings account, and some cryptocurrency Jerry bought drunk in 2021. He's afraid to check on it.
Short/Long-Term DebtThe barn loan that'll follow Jerry to the grave (long-term) and the $200 he owes the feed store guy who's starting to give him looks (short-term).
Operating Cash FlowReal cash moving in and out. Not "my customer promised to pay me" money. Actual dollars. Jerry has trust issues now.
Using alias: casha -> cashAndShortTermInvestments [annual] [balance]
Using alias: debta -> shortLongTermDebtTotal [annual] [balance]
Using alias: paychecka -> operatingCashflow [annual] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ cashAndShortTermInvestments         7/7 dates (100%)
  ✅ shortLongTermDebtTotal              7/7 dates (100%)
  ✅ operatingCashflow                   7/7 dates (100%)

Plot for IREN (in M)
  reports: annualReports
  showing last 25 entries
  Legend: cashAndShortTermInvestments, shortLongTermDebtTotal, operatingCashflow

               -964.23M                  -482.12M                    0.00M                    482.12M                   964.23M
               |                         |                         |                         |                         |

  2019-06-30 |                                                    █|  -0.43M
  2020-06-30 |                                                    █|  1.96M
  2021-06-30 |                                                     |██  62.93M
  2022-06-30 |                                                     |███  75.62M
  2023-06-30 |                                                     |███  68.89M
  2024-06-30 |                                                     |█████████████████████  404.60M
  2025-06-30 |                                                     |███████████████████████████████████████████████████ 964.23M

               |                         |                         |                         |                         |
               -964.23M                  -482.12M                    0.00M                    482.12M                   964.23M

FCF

Free Cash Flow — explained by Jerry the Goat Farmer
Operating Cash FlowReal cash moving in and out. Not "my customer promised to pay me" money. Actual dollars. Jerry has trust issues now.
Capital ExpendituresBig, expensive purchases Jerry justifies at 2am: the industrial milking machine, new fencing, and a hot tub "for the goats" that somehow only Jerry uses.
Using alias: paychecka -> operatingCashflow [annual] [cashflow]
Using alias: capexa -> capitalExpenditures [annual] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ operatingCashflow                   7/7 dates (100%)
  ✅ capitalExpenditures                 7/7 dates (100%)

Plot for IREN (in B)
  reports: annualReports
  showing last 25 entries
  Legend: operatingCashflow, capitalExpenditures

               -1.37B                    -0.69B                     0.00B                     0.69B                     1.37B
               |                         |                         |                         |                         |

  2019-06-30 |                                                    █|  0.00B
  2020-06-30 |                                                    █|  0.00B
  2021-06-30 |                                                     |  0.01B
  2022-06-30 |                                                     |██████████  0.29B
  2023-06-30 |                                                     |███  0.12B
  2024-06-30 |                                                     |█████████████████  0.48B
  2025-06-30 |                                                     |███████████████████████████████████████████████████ 1.37B

               |                         |                         |                         |                         |
               -1.37B                    -0.69B                     0.00B                     0.69B                     1.37B

Assets

Assets, Liabilities & Equity — explained by Jerry the Goat Farmer
🐐 Assets = Liabilities + Equity

Translation: What Jerry owns = What Jerry owes + What's actually Jerry's

Or as Jerry mutters every April during tax season:
"Everything I have equals everything I owe plus whatever scraps are left for me, a humble goat man just trying to make cheese in this cruel world."
Total AssetsEverything Jerry owns: 12 acres of land, a barn that's "rustic" (rotting), 47 goats, Sergio (appraised at $800, priceless to Jerry), the cheese cave, and a 2004 Ford F-150 held together by duct tape and prayer.
Total LiabilitiesEverything Jerry owes: bank loans, the feed store tab, back taxes, and a moral debt to his neighbor for "borrowing" that tractor in 2019. They both know he's not returning it.
Total Shareholder EquityIf Jerry sold absolutely everything, paid off every debt, and finally returned that tractor... this is what he'd have left. His actual net worth. Some days it's a retirement fund. Other days it's "enough for a bus ticket and a fresh start."
Using alias: assetsa -> totalAssets [annual] [balance]
Using alias: liabila -> totalLiabilities [annual] [balance]
Using alias: equitya -> totalShareholderEquity [annual] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ totalAssets                         7/7 dates (100%)
  ✅ totalLiabilities                    7/7 dates (100%)
  ✅ totalShareholderEquity              7/7 dates (100%)

Plot for IREN (in B)
  reports: annualReports
  showing last 25 entries
  Legend: totalAssets, totalLiabilities, totalShareholderEquity

               -2.94B                    -1.47B                     0.00B                     1.47B                     2.94B
               |                         |                         |                         |                         |

  2019-06-30 |                                                     |  0.00B
  2020-06-30 |                                                     |  0.01B
  2021-06-30 |                                                    █|█  0.14B
  2022-06-30 |                                                     |██████  0.39B
  2023-06-30 |                                                     |█████  0.33B
  2024-06-30 |                                                     |███████████████████  1.15B
  2025-06-30 |                                                     |███████████████████████████████████████████████████ 2.94B

               |                         |                         |                         |                         |
               -2.94B                    -1.47B                     0.00B                     1.47B                     2.94B

Buffet

Using alias: incomea -> netIncome [annual] [income]
Using alias: debta -> shortLongTermDebtTotal [annual] [balance]
Using alias: equitya -> totalShareholderEquity [annual] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ netIncome                           7/7 dates (100%)
  ✅ shortLongTermDebtTotal              7/7 dates (100%)
  ✅ totalShareholderEquity              7/7 dates (100%)

Plot for IREN (in B)
  reports: annualReports
  showing last 25 entries
  Legend: netIncome, shortLongTermDebtTotal, totalShareholderEquity

               -1.82B                    -0.91B                     0.00B                     0.91B                     1.82B
               |                         |                         |                         |                         |

  2019-06-30 |                                                    █|  0.00B
  2020-06-30 |                                                    █|  0.01B
  2021-06-30 |                                                   ██|█  0.06B
  2022-06-30 |                                         ████████████|████████  -0.42B
  2023-06-30 |                                                █████|████████  0.31B
  2024-06-30 |                                                    █|██████████████████████████████  1.10B
  2025-06-30 |                                                     |███████████████████████████████████████████████████ 1.82B

               |                         |                         |                         |                         |
               -1.82B                    -0.91B                     0.00B                     0.91B                     1.82B

Revenue-q

Using alias: revenue -> totalRevenue [quarterly] [income]
Using alias: profit -> grossProfit [quarterly] [income]
Using alias: income -> netIncome [quarterly] [income]


Data Completeness:
------------------------------------------------------------
  ✅ totalRevenue                        25/25 dates (100%)
  ✅ grossProfit                         25/25 dates (100%)
  ✅ netIncome                           25/25 dates (100%)

Plot for IREN (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: totalRevenue, grossProfit, netIncome

               -489.09M                  -244.54M                    0.00M                    244.54M                   489.09M
               |                         |                         |                         |                         |

  2019-09-30 |                                                    █|  -0.31M
  2019-12-31 |                                                    █|  -0.32M
  2020-03-31 |                                                    █|  0.89M
  2020-06-30 |                                                    █|  0.86M
  2020-09-30 |                                                    █|  0.80M
  2020-12-31 |                                                    █|  -1.31M
  2021-03-31 |                                                     |  2.78M
  2021-06-30 |                                               ██████|  -59.22M
  2021-09-30 | ████████████████████████████████████████████████████|  -489.09M
  2021-12-31 |                                                     |██████  70.32M
  2022-03-31 |                                                    █|█  15.15M
  2022-06-30 |                                                   ██|█  -17.73M
  2022-09-30 |                                            █████████|█  -80.95M
  2022-12-31 |                                      ███████████████|  -143.95M
  2023-03-31 |                                                    █|  11.33M
  2023-06-30 |                                                    █|███  34.22M
  2023-09-30 |                                                    █|███  34.40M
  2023-12-31 |                                                    █|████  42.57M
  2024-03-31 |                                                     |█████  54.35M
  2024-06-30 |                                                  ███|█████  55.87M
  2024-09-30 |                                                █████|█████  54.39M
  2024-12-31 |                                                     |████████████  117.89M
  2025-03-31 |                                                     |███████████████  148.10M
  2025-06-30 |                                                     |███████████████████  187.29M
  2025-09-30 |                                                     |████████████████████████████████████████  384.61M

               |                         |                         |                         |                         |
               -489.09M                  -244.54M                    0.00M                    244.54M                   489.09M

Costs-q

Using alias: rnd -> researchAndDevelopment [quarterly] [income]
Using alias: sga -> sellingGeneralAndAdministrative [quarterly] [income]
Using alias: cogs -> costofGoodsAndServicesSold [quarterly] [income]


Data Completeness:
------------------------------------------------------------
  ⚠️  SPARSE researchAndDevelopment              0/25 dates (0%)
  ✅ sellingGeneralAndAdministrative     25/25 dates (100%)
  ✅ costofGoodsAndServicesSold          25/25 dates (100%)

Plot for IREN (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: researchAndDevelopment, sellingGeneralAndAdministrative, costofGoodsAndServicesSold

               0.00M                    34.21M                    68.41M                    102.62M                   136.82M
               |                         |                         |                         |                         |

  2019-09-30 | █ 0.14M ⊗
  2019-12-31 | █ 0.14M ⊗
  2020-03-31 | █ 0.34M ⊗
  2020-06-30 | █ 0.32M ⊗
  2020-09-30 | █ 0.29M ⊗
  2020-12-31 | █ 0.28M ⊗
  2021-03-31 | █ 0.25M ⊗
  2021-06-30 | █ 1.39M ⊗
  2021-09-30 | █ 1.17M ⊗
  2021-12-31 | ██ 2.54M ⊗
  2022-03-31 | █ 1.45M ⊗
  2022-06-30 | ███ 3.76M ⊗
  2022-09-30 | ███ 4.33M ⊗
  2022-12-31 | ███ 4.06M ⊗
  2023-03-31 | ██ 2.47M ⊗
  2023-06-30 | █████ 6.76M ⊗
  2023-09-30 | ███████ 9.07M ⊗
  2023-12-31 | ███ 4.33M ⊗
  2024-03-31 | ███ 4.33M ⊗
  2024-06-30 | ████████████████████████████████████████████████████████ 74.22M ⊗
  2024-09-30 | ██████ 7.72M ⊗
  2024-12-31 | █████ 6.99M ⊗
  2025-03-31 | ██████ 7.46M ⊗
  2025-06-30 | ████████████████████████████████████████████████████████████████████████████████████████████████████████ 136.82M ⊗
  2025-09-30 | ██████████████████████████████████████████████████████████████████████████████████████████████ 123.79M ⊗

               |                         |                         |                         |                         |
               0.00M                    34.21M                    68.41M                    102.62M                   136.82M

Cash-q

Using alias: cash -> cashAndShortTermInvestments [quarterly] [balance]
Using alias: debt -> shortLongTermDebtTotal [quarterly] [balance]
Using alias: paycheck -> operatingCashflow [quarterly] [cashflow]


Data Completeness:
------------------------------------------------------------
  ⚠️  cashAndShortTermInvestments         23/25 dates (92%)
  ⚠️  shortLongTermDebtTotal              20/25 dates (80%)
  ✅ operatingCashflow                   25/25 dates (100%)

Plot for IREN (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: cashAndShortTermInvestments, shortLongTermDebtTotal, operatingCashflow

               -1.03B                    -0.52B                     0.00B                     0.52B                     1.03B
               |                         |                         |                         |                         |

  2019-09-30 |                                                    █| -0.00B ⊗
  2019-12-31 |                                                    █| -0.00B ⊗⊗
  2020-03-31 |                                                    █|  0.00B
  2020-06-30 |                                                    █|  0.00B
  2020-09-30 |                                                    █|  -0.00B ⊗
  2020-12-31 |                                                    █|  0.02B
  2021-03-31 |                                                     |  0.00B ⊗⊗
  2021-06-30 |                                                    █|███  0.08B
  2021-09-30 |                                                     |█████████  0.21B
  2021-12-31 |                                                     |████████████  0.25B
  2022-03-31 |                                                     |███████  0.16B
  2022-06-30 |                                                     |█████  0.11B
  2022-09-30 |                                               ██████| -0.11B ⊗
  2022-12-31 |                                                    █|█████  0.11B
  2023-03-31 |                                                     |██  0.07B
  2023-06-30 |                                                 ████|██  -0.07B
  2023-09-30 |                                                  ███|  -0.07B
  2023-12-31 |                                                     |████  0.09B
  2024-03-31 |                                                █████|████████████  0.26B
  2024-06-30 |                                                     |███████████████████  0.40B
  2024-09-30 |                                                    █|████  0.10B
  2024-12-31 |                                                  ███|█████████████████████  0.43B
  2025-03-31 |                                                   ██|███████████████  0.32B
  2025-06-30 |                                                     |████████████████████████████████████████████████  0.96B
  2025-09-30 |                                                     |███████████████████████████████████████████████████ 1.03B

               |                         |                         |                         |                         |
               -1.03B                    -0.52B                     0.00B                     0.52B                     1.03B

FCF-q

Using alias: paycheck -> operatingCashflow [quarterly] [cashflow]
Using alias: capex -> capitalExpenditures [quarterly] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ operatingCashflow                   25/25 dates (100%)
  ✅ capitalExpenditures                 25/25 dates (100%)

Plot for IREN (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: operatingCashflow, capitalExpenditures

               -443.80M                  -221.90M                    0.00M                    221.90M                   443.80M
               |                         |                         |                         |                         |

  2019-09-30 |                                                    █|  1.45M
  2019-12-31 |                                                    █|  1.51M
  2020-03-31 |                                                    █|  0.64M
  2020-06-30 |                                                    █|  0.47M
  2020-09-30 |                                                     |  0.73M
  2020-12-31 |                                                    █|  8.72M
  2021-03-31 |                                                     |█████  51.62M
  2021-06-30 |                                                    █|█  20.15M
  2021-09-30 |                                                     |  7.95M
  2021-12-31 |                                                     |  10.73M
  2022-03-31 |                                                     |████████████████████████  214.57M
  2022-06-30 |                                                     |███████  72.38M
  2022-09-30 |                                                    █|███  32.33M
  2022-12-31 |                                                    █|███  32.33M
  2023-03-31 |                                                     |██  28.96M
  2023-06-30 |                                             ████████|██  -71.38M
  2023-09-30 |                                                     |███  32.01M
  2023-12-31 |                                                     |████  46.20M
  2024-03-31 |                                         ████████████|█████████████  119.29M
  2024-06-30 |                                                     |██████████████████████████████████  296.61M
  2024-09-30 |                                                    █|████████████████████████████████████████████  383.39M
  2024-12-31 |                                              ███████|█████████████████████  187.56M
  2025-03-31 |                                               ██████|███████████████████████████████████████████████████ 443.80M
  2025-06-30 |                                                     |██████████████████████████████████████████████  398.81M
  2025-09-30 |                                                     |████████████████████████████████  280.61M

               |                         |                         |                         |                         |
               -443.80M                  -221.90M                    0.00M                    221.90M                   443.80M

Assets-q

Using alias: assets -> totalAssets [quarterly] [balance]
Using alias: liabil -> totalLiabilities [quarterly] [balance]
Using alias: equity -> totalShareholderEquity [quarterly] [balance]


Data Completeness:
------------------------------------------------------------
  ⚠️  totalAssets                         21/25 dates (84%)
  ⚠️  totalLiabilities                    20/25 dates (80%)
  ⚠️  totalShareholderEquity              23/25 dates (92%)

Plot for IREN (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: totalAssets, totalLiabilities, totalShareholderEquity

               -4.27B                    -2.13B                     0.00B                     2.13B                     4.27B
               |                         |                         |                         |                         |

  2019-09-30 |                                                     |  0.00B ⊗
  2020-03-31 |                                                     |  0.01B
  2020-06-30 |                                                     |  0.01B
  2020-09-30 |                                                     |  0.01B ⊗⊗
  2020-12-31 |                                                     |  0.03B
  2021-06-30 |                                                    █|█  0.18B
  2021-09-30 |                                               ██████|█████████  0.78B
  2021-12-31 |                                                     |█████  0.49B
  2022-03-31 |                                                     |██████  0.56B
  2022-06-30 |                                                     |██████  0.57B
  2022-09-30 |                                                     |████  0.44B ⊗⊗
  2022-12-31 |                                                     |████  0.41B
  2023-03-31 |                                                     |███  0.33B
  2023-06-30 |                                                     |███  0.33B
  2023-09-30 |                                                     |████  0.42B
  2023-12-31 |                                                     |████  0.42B
  2024-03-31 |                                                     |████████  0.72B
  2024-06-30 |                                                     |█████████████  1.15B
  2024-09-30 |                                                     |███████████████  1.28B
  2024-12-31 |                                                     |██████████████████████  1.85B
  2025-03-31 |                                                     |███████████████████████  1.99B
  2025-06-30 |                                                     |███████████████████████████████████  2.94B
  2025-09-30 |                                                     |███████████████████████████████████████████████████ 4.27B

               |                         |                         |                         |                         |
               -4.27B                    -2.13B                     0.00B                     2.13B                     4.27B

Buffet-q

Using alias: income -> netIncome [quarterly] [income]
Using alias: debt -> shortLongTermDebtTotal [quarterly] [balance]
Using alias: equity -> totalShareholderEquity [quarterly] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ netIncome                           25/25 dates (100%)
  ⚠️  shortLongTermDebtTotal              20/25 dates (80%)
  ⚠️  totalShareholderEquity              23/25 dates (92%)

Plot for IREN (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: netIncome, shortLongTermDebtTotal, totalShareholderEquity

               -2.88B                    -1.44B                     0.00B                     1.44B                     2.88B
               |                         |                         |                         |                         |

  2019-09-30 |                                                    █|  0.00B ⊗
  2019-12-31 |                                                    █| -0.00B ⊗⊗
  2020-03-31 |                                                    █|  0.01B
  2020-06-30 |                                                    █|  0.01B
  2020-09-30 |                                                    █|  0.01B ⊗
  2020-12-31 |                                                    █|  0.02B
  2021-03-31 |                                                     |  0.00B ⊗⊗
  2021-06-30 |                                                    █|█  0.08B
  2021-09-30 |                                           ██████████|███  -0.53B
  2021-12-31 |                                                     |███████  0.45B
  2022-03-31 |                                                    █|███████  0.46B
  2022-06-30 |                                                    █|███████  0.44B
  2022-09-30 |                                                    █|███████  0.44B ⊗
  2022-12-31 |                                                  ███|████  0.27B
  2023-03-31 |                                                    █|█████  0.31B
  2023-06-30 |                                                    █|█████  0.31B
  2023-09-30 |                                                    █|█████  0.31B
  2023-12-31 |                                                    █|██████  0.38B
  2024-03-31 |                                                     |███████████  0.68B
  2024-06-30 |                                                    █|███████████████████  1.10B
  2024-09-30 |                                                    █|███████████████████  1.13B
  2024-12-31 |                                                     |██████████████████████  1.29B
  2025-03-31 |                                                     |█████████████████████████  1.43B
  2025-06-30 |                                                     |████████████████████████████████  1.82B
  2025-09-30 |                                                     |███████████████████████████████████████████████████ 2.88B

               |                         |                         |                         |                         |
               -2.88B                    -1.44B                     0.00B                     1.44B                     2.88B

Price History

Volume

Advanced Chart