IREN Limited (IREN) is a publicly traded company in the Technology — Software - Services industry listed on NASDAQ. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
IREN Limited, established in 2018 and based in Sydney, Australia, operates a comprehensive, vertically integrated data center business spanning Australia and Canada. The company possesses and manages all essential infrastructure, including its computing hardware, electrical systems, and the data center facilities themselves.
Is IREN Limited stock overvalued or undervalued in 2026?
As of October 30, 2026, IREN Limited (IREN) trades at $23.95 with no positive earnings over the last twelve months, according to Kaplio. No valuation verdict: it has no earnings to calculate a P/E from.
Kaplio overview: IREN Limited
Market cap $10B · 52 weeks $24 – $76 (69 % below the high) · P/E no earnings · Dividend none · Next earnings November 5, 2026 · expected EPS -$0.72 · Closing price, Oct 30 · accounts published Aug 27.
- Valuation: P/Sales 4.5× (no earnings).
- Business: ROIC −7 % (weak).
- Balance sheet: Net debt/EBITDA 56.0× (fragile).
- Earnings: 3 of 8 (disappointing).
What would it be worth at its usual multiples?
No valuation verdict: it has no earnings to calculate a P/E from.
What matters in technology: 2 of 8 pass
- Rule of 40 (SaaS only) −298, fails.
- FCF / Revenue −315.8 %, fails.
- ROIC −7.5 %, fails.
- Net debt / EBITDA 56.0×, fails.
- EV/EBITDA vs own 5y 335×, fails.
- Gross margin 68.9 %, borderline.
- 3y revenue growth 17.5 %, passes.
- SBC / Revenue 0.0 %, passes.
Against its peers (reference peers) — IREN Limited: P/E —; EV/EBITDA —; ROIC -7.5 %; $9.7B. Galaxy Digital (P/E —; EV/EBITDA 49.6×; ROIC 2.5 %; $5.3B), Maplebear Inc. (P/E 29.4×; EV/EBITDA 16.8×; ROIC 17.5 %; $13.4B), Verisk Analytics, Inc. (P/E 30.1×; EV/EBITDA 17.6×; ROIC 34.2 %; $25.5B).
Profitability
| Return on Equity | -22.97% |
| Return on Invested Capital | -7.48% |
| Return on Assets | -4.45% |
| Gross Margin | 68.93% |
| Operating Margin | -148.05% |
| Net Margin | -99.38% |
Financial Health
| Debt / Equity | 1.87 |
| Current Ratio | 3.55 |
| Piotroski F-Score | 3 |
| Altman Z-Score | 0.89 |
Price Performance
| 1 month | -42.65% |
| 3 months | -41.37% |
| Year-to-date | -36.59% |
| 1 year | -60.58% |
| 3 years | +586.25% |
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Explore sector: Technology · Software - Services
More sections of IREN: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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