What is Iris Energy's cash ratio?

Iris Energy (IREN) reported cash ratio of 3.4× in Q1 2026.

What does cash ratio mean?

How much of its short-term bills the company could pay with cash on hand right now.

How do you interpret cash ratio?

A buffer against stress, but persistently high cash ratios can indicate under-deployed capital. Interpret alongside the company's capital-allocation strategy.

How does cash ratio compare across companies?

Varies widely by business model and treasury policy; best read against the company's own history.

Iris Energy IREN Cash ratio

Cash ratio at other companies

Riot Platforms, Inc.RIOT

0.5×-0.7×

Cipher Digital, Inc. CIFR

0.6×+0.3×

TeraWulfWULF

1.3×-0.5×

Applied DigitalAPLD

2.1×+1.4×

Hut 8 Mining Corp.HUT

0.6×+0.1×

Super Micro Computer, Inc.SMCI

0.2×-1.6×

Other financials

Income statement

See full

Revenue$144.8M0.0%

Gross profit$104.9M+1.9%

Operating income-$233.5M-899%

Net income-$247.8M-1,435%

EPS (diluted)-$0.74-957%

Balance sheet

See full

Cash & equivalents$2.2B+1,101%

Total debt$399.2M—

Total equity$2.7B+98.2%

Total assets$7.3B—

Cash flow

See full

Operating cash flow$75.3M-19.1%

CapEx$949.2M+2,548%

Free cash flow-$873.8M-1,602%

Valuation

See full

Market cap$21.43B+753%

Enterprise value$19.61B—

P/E135.6×—

P/S28.3×+21.3×

Profitability

See full

Gross margin68.4%+3.9pp

Operating margin-54%-56.2pp

Net margin20.9%+13.4pp

FCF margin-193%-522pp

Returns & leverage

See full

Return on equity7.9%—

Debt / equity0.1×—

Current ratio3.7×—

Where this comes from

Calculated from Iris Energy’s reported figures.

cash and equivalents/total current liabilities=3.4×

Based on the most recent quarter.

The official record: Iris Energy’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

Ask your AI about Iris Energy's cash ratio.

Connect your AI assistant and compare it to peers, right in your chat.

Connect your AI

Claude

Questions, answered.

What is Iris Energy's cash ratio?: Iris Energy (IREN) reported cash ratio of 3.4× in Q1 2026.
What does cash ratio mean?: How much of its short-term bills the company could pay with cash on hand right now.
How do you interpret cash ratio?: A buffer against stress, but persistently high cash ratios can indicate under-deployed capital. Interpret alongside the company's capital-allocation strategy.
How does cash ratio compare across companies?: Varies widely by business model and treasury policy; best read against the company's own history.