IREN Limited
IRENFinancial ServicesNASDAQCapital Markets · Last scanned Jun 1, 2026
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Daily timeframeIREN Limited operates in the vertically integrated data center business in Australia and Canada. The $22.71B market capitalization puts IREN squarely in large-cap range for its industry. The company owns and operates computing hardware, as well as electrical infrastructure and data centers.
Market Cap
$22.71B
Beta
4.18
P/E (TTM)
82.52
P/E (Fwd)
-67.60
EPS (TTM)
$0.77
EPS (Fwd)
$-0.94
ROE
7.7%
ROA
-3.0%
Cash
$2.21B
Total Debt
$3.96B
Free CF
-$2.31B
52W Change
627.8%
Annual Financials
Cash vs Debt
On the balance sheet, IREN has $2.21B in cash with $3.96B in obligations. The ability to service this debt comfortably depends on continued operational cash generation. Free cash flow is running at -$2.31B, which bears watching. Negative free cash flow can be acceptable during heavy investment periods but needs to improve over time. ROE of 7.7% points to modest capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. Revenue has grown from $59.0M (2022) to $501.0M (2025), reflecting a 749% increase over the period.
IREN Limited's elevated beta suggests the stock experiences more pronounced price movements than the overall market, which increases both upside potential and downside risk. The company is burning cash at the operating level, which is not unusual for growth-phase companies but adds risk if it persists. The elevated P/E ratio means the stock is priced for significant future growth. If earnings disappoint, the price correction could be sharp. Understanding these risk dimensions helps frame what to watch going forward as conditions evolve for IREN Limited and its sector.