Iris Energy IREN Ratios & Valuation
| TTM Q3 '26 | TTM Q2 '26 | TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 68.4%+0.3pp | 68.1%-1.7pp | 69.8%+1.6pp | 68.3%+3.7pp | 64.5%+5.6pp | |
| Operating margin | -54%-34.7pp | -19.2%-17.5pp | -1.7%-5.2pp | 3.5%+5.5pp | -2%+14.5pp | |
| Net margin | 20.9%-30.6pp | 51.5%-24.5pp | 76%+58.6pp | 17.4%+44.2pp | -26.9%+6.6pp | |
| Returns | ||||||
| Return on equity | 7.9%— | —— | —— | —— | —— | |
| Liquidity | ||||||
| Current ratio | 3.7×— | —— | —— | —— | —— | |
| Leverage | ||||||
| Debt-to-equity | 0.1×— | —— | —— | —— | —— | |
| Per Share | ||||||
| Book value per share | $7.98-5.2% | $8.43+6.0% | $7.95-2.3% | $8.14+32.4% | $6.15— | |
| Valuation | ||||||
| Market capitalization | $11.37B-8.3% | $12.4B-2.8% | $12.76B+357% | $2.79B+109% | $1.33B-36.7% | |
| Price / earnings | 72×— | —— | —— | —— | —— | |
| Price / sales | 15×-1.4× | 16.4×-2.2× | 18.5×+13.0× | 5.6×+1.9× | 3.7×-4.3× | |
| Price / book | 4.3×-0.7× | 4.9×+0.5× | 4.4×+2.9× | 1.5×+0.5× | 1×— |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- What are Iris Energy's profit margins?
- Iris Energy (IREN) runs a 68.4% gross margin and a -54.0% operating margin, with a 20.9% net margin.
- Where do Iris Energy's ratios come from?
- Every ratio is computed from Iris Energy's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.
