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Iris Energy IREN Free cash flow margin

Free cash flow margin at other companies

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-140.4%+36.0pp
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-482%-3,491pp
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TeraWulfWULF
-1,003.6%-1,433pp
Applied Digital logo
Applied DigitalAPLD
-536.3%+40.8pp
Hut 8 Mining Corp. logo
Hut 8 Mining Corp.HUT
-108.6%-32.4pp
Super Micro Computer, Inc. logo
Super Micro Computer, Inc.SMCI
-20.3%

Other financials

Income statement

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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

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Cash & equivalents$2.2B+1,101%
Total debt$399.2M
Total equity$2.7B+98.2%
Total assets$7.3B

Cash flow

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Operating cash flow$75.3M-19.1%
CapEx$949.2M+2,548%
Free cash flow-$873.8M-1,602%

Valuation

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Market cap$21.43B+753%
Enterprise value$19.61B
P/E135.6×
P/S28.3×+21.3×

Profitability

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Gross margin68.4%+3.9pp
Operating margin-54%-56.2pp
Net margin20.9%+13.4pp

Returns & leverage

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Return on equity7.9%
Debt / equity0.1×
Current ratio3.7×

Where this comes from

Calculated from Iris Energy’s reported figures.

Based on trailing twelve months.

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

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Questions, answered.

What is Iris Energy's free cash flow margin?
Iris Energy (IREN) reported free cash flow margin of -193% in Q1 2026.
How has Iris Energy's free cash flow margin changed year-over-year?
Iris Energy's free cash flow margin decreased by 158.6% year-over-year, from -74.6% to -193%.
What is the long-term trend for Iris Energy's free cash flow margin?
Over 2 years (2023 to 2025), Iris Energy's free cash flow margin has grown at a -33.1% compound annual growth rate (CAGR), from -146.1% to -65.4%.
What does free cash flow margin mean?
How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?
A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?
Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.