Iris Energy Limited (IREN) Key Metrics
IREN valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $10.64B
- Enterprise value
- $20.48B
- P/E (TTM)
- —
- Forward P/E
- 137.0
- PEG ratio
- 4.05
- Price / sales
- 15.0
- Price / book
- 4.0
- EV / EBITDA
- 28.1
- Dividend yield
- —
- Beta
- 4.27
IREN key metrics, FY2025–FY2026
Fiscal year ended June 30, 2026 · U.S. dollarsIREN valuation Price multiples at each fiscal year-end price.
IREN returns How much profit the business earns on the capital it uses.
IREN per-share figures Results divided by the shares outstanding at year-end.
IREN financial health Debt, liquidity and how easily interest is covered.
IREN efficiency & capital use Working capital cycle and where the cash goes.
IREN valuation history
IREN returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
IREN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
IREN price vs earnings per share
IREN key metrics
FY2025–FY2026| FY2026 | FY2025 | |
|---|---|---|
| Valuation | ||
| Market capitalization | $14.46B | $3.25B |
| Enterprise value | $16.40B | $3.65B |
| P/E ratio | — | 37.4 |
| Price / sales | 20.4 | 6.5 |
| Price / book | 3.5 | 1.8 |
| Price / operating cash flow | 6.9 | 13.2 |
| EV / sales | 23.2 | 7.3 |
| EV / EBITDA | 472.2 | 12.8 |
| Earnings yield | −4.9% | 2.7% |
| Free cash flow yield | −15.4% | −34.6% |
| Share price at fiscal year-end | $45.73 | $14.57 |
| Per share | ||
| Revenue per share | $2.24 | $2.24 |
| Earnings per share | −$2.22 | $0.39 |
| Operating cash flow per share | $6.64 | $1.10 |
| Free cash flow per share | −$7.06 | −$5.05 |
| Cash per share | $18.65 | $2.53 |
| Book value per share | $13.24 | $8.14 |
| Tangible book value per share | $12.12 | $8.14 |
| Capex per share | $13.71 | $6.15 |
| Debt per share | $24.80 | $4.32 |
| Shares outstanding | 316.1M | 223.2M |
| Change in shares outstanding | +41.6% | — |
| Returns & profitability | ||
| Return on equity (ROE) | −23.4% | 4.8% |
| Return on invested capital (ROIC) | −19.8% | 0.9% |
| Return on assets (ROA) | −7.5% | 3.0% |
| Return on tangible assets | −4.6% | 3.0% |
| Free cash flow margin | −315.8% | −224.9% |
| Income quality (OCF / net income) | — | 2.83 |
| Financial health | ||
| Total debt | $7.84B | $964.2M |
| Cash & short-term investments | $5.90B | $564.5M |
| Net debt | $1.94B | $399.7M |
| Debt / equity | 1.87 | 0.53 |
| Debt / assets | 0.50 | 0.33 |
| Net debt / EBITDA | 55.98 | 1.40 |
| Current ratio | 3.55 | 4.29 |
| Quick ratio | 3.55 | 4.29 |
| Interest coverage | -17.7 | 2.0 |
| Working capital | $5.67B | $491.8M |
| Invested capital | $6.13B | $2.22B |
| Tangible asset value | $3.83B | $1.82B |
| Net current asset value | −$3.72B | −$481.7M |
| Graham number | — | $8.45 |
| Graham net-net per share | −$17.92 | −$2.42 |
| Capital allocation | ||
| Capex / revenue | 612.9% | 274.0% |
| Capex / operating cash flow | 206.3% | 558.2% |
| Capex / depreciation | 10.37 | 7.58 |
| Stock-based compensation / revenue | 29.0% | 8.5% |
| SG&A / revenue | 45.2% | 25.4% |
| Efficiency | ||
| Days sales outstanding | 21.6 | 18.2 |
| Days payables outstanding | 1,145.7 | 187.7 |
| Cash conversion cycle (days) | -1,124.1 | -169.5 |
| Receivables turnover | 16.91 | 20.05 |
| Payables turnover | 0.32 | 1.94 |
| Asset turnover | 0.08 | 0.17 |
| Average receivables | $41.8M | $25.0M |
| Average payables | $689.6M | $81.7M |
| Intangibles / total assets | 2.2% | 0.0% |
Computed from IREN's annual financial statements (latest annual report filed August 27, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
IREN valuation and financial ratios
Iris Energy earned a return on equity of −23.4% and a return on invested capital of −19.8% in fiscal 2026. It ended the year with $7.8 billion of debt and $5.9 billion in cash and short-term investments, net debt of $1.9 billion.
See the IREN income statement, the IREN chart for price history, or the IREN stock overview for the latest quote and news.
IREN key metrics FAQ
What is Iris Energy's EV/EBITDA?
Iris Energy's enterprise value was 472.2 times EBITDA at the end of fiscal 2026 (enterprise value $16.4 billion, EBITDA $34.7 million); the current EV/EBITDA is 28.1.
What is Iris Energy's return on equity?
Iris Energy's return on equity (ROE) was −23.4% in fiscal 2026: net income of -$702.6 million on average shareholders' equity of $3.0 billion.
What is Iris Energy's ROIC?
Iris Energy's return on invested capital was −19.8% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Iris Energy have?
Iris Energy had total debt of $7.8 billion at the end of fiscal 2026, a debt-to-equity ratio of 1.87 and $1.9 billion of net debt (55.98 times EBITDA).
What is Iris Energy's free cash flow yield?
Iris Energy generated -$2.2 billion of free cash flow in fiscal 2026, a free cash flow yield of −15.4% on its market value at year-end ($14.5 billion).
What is Iris Energy's current ratio?
Iris Energy's current ratio was 3.55 at the end of fiscal 2026: current assets were 3.55 times current liabilities.