IREN, formerly Iris Energy, comes from Australia and runs data centers in North America powered by electricity from renewable sources. Besides mining Bitcoin, the company increasingly rents out graphics processors for AI applications. As of Oct 16, 2026
IREN runs a cloud platform for artificial intelligence and provides data centers, computing power and software for this. Its customers include large cloud companies, research labs, developers and enterprises that receive computing power as dedicated servers or as a managed cloud. The company offers its services mainly under multi-year contracts with committed capacity. It owns and operates data centers including land and grid connections itself, with contracted grid connections in the United States, Canada, Spain and Australia. The company also mines Bitcoin, but in the fiscal year to June 2026 began shutting down these machines and redirecting power and space to the cloud.
Automatically summarized from SEC annual report (10-K, filed Aug 27, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 17, 2026
Our own calculation from the exchange’s daily candles, as of Oct 27, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.
No buy zone
There is currently no buy zone for this symbol under our Elliott rule. One only forms when the price pulls back after a strong rise.
An observation, not investment advice
Timeframe 1 week · As of Oct 23, 2026 · display only, the rule works on 4-hour candles
Elliott count: Combination (W-X-Y), Corrective pattern (upward), Y complete (3 of 3 guidelines) · X = 65% of W; Y = 66% of W
smaller wave degree Smaller wave degree: more sensitive turning-point detection, because no count fits at the usual degree – it describes shorter swings. Provisional – check the count yourself on the chart.
Alternative (not drawn): Flat (type known only after C), Corrective pattern (downward), C in progress (2 of 3 guidelines)
Elliott count calculated automatically by fixed Elliott rules, not investment advice – display only, our buy zones do not use it. Provisional: The count can change with new candles.
No buy zone of the rule on this timeframe – the chart shows only the Elliott count from the completed weekly candles (recalculated every day). Not a recommendation, not investment advice. Without a buy zone there is no reference for percentages – so no value axis and no prices; measurements are ratios of wave lengths.
Big picture (weekly chart) – no buy zone of the rule and no recommendation to buy. The rule measures wave 1 only on the last leg; this chart also places the price within the larger cycle (start = lowest low of the five years before the high, high at least half a year old). Calculated automatically, not investment advice. No value axis and no prices.
Timeframe 1 day · As of Oct 27, 2026 · display only, the rule works on 4-hour candles
Elliott count: Combination (W-X-Y-X-Z), Corrective pattern (upward), Z complete (3 of 4 guidelines) · X = 71% of W; Y = 72% of W; X = 58% of Y; Z = 41% of W–Y
smaller wave degree Smaller wave degree: more sensitive turning-point detection, because no count fits at the usual degree – it describes shorter swings. Provisional – check the count yourself on the chart.
Alternative (not drawn): Combination (W-X-Y), Corrective pattern (upward), Y complete (2 of 3 guidelines)
Note: Structure open: leg X, Z cannot be broken down into sub-waves on this timeframe – provisional, check the count yourself on the chart.
Note: Count questionable: C in progress at 308% (C of A, limit 261.8%).
Elliott count calculated automatically by fixed Elliott rules, not investment advice – display only, our buy zones do not use it. Provisional: The count can change with new candles.
No buy zone of the rule on this timeframe – the chart shows only the Elliott count from the completed daily candles (recalculated every day). Not a recommendation, not investment advice. Without a buy zone there is no reference for percentages – so no value axis and no prices; measurements are ratios of wave lengths.
Timeframe 4 hours · As of Oct 27, 2026
Elliott count: Combination (W-X-Y-X-Z), Corrective pattern (upward), Z complete (3 of 4 guidelines) · X = 71% of W; Y = 72% of W; X = 58% of Y; Z = 41% of W–Y
Alternative (not drawn): Combination (W-X-Y), Corrective pattern (upward), Y complete (2 of 3 guidelines)
Note: Structure ambiguous: leg X can also be read as three- or five-part.
Note: Count questionable: C in progress at 308% (C of A, limit 261.8%).
Elliott count calculated automatically by fixed Elliott rules, not investment advice – display only, our buy zones do not use it. Provisional: The count can change with new candles.
No buy zone of the rule on this timeframe – the chart shows only the Elliott count from the completed 4-hour candles (recalculated every hour). Not a recommendation, not investment advice. Without a buy zone there is no reference for percentages – so no value axis and no prices; measurements are ratios of wave lengths.
Timeframe 1 hour · As of Oct 27, 2026 · display only, the rule works on 4-hour candles
Elliott count: Combination (W-X-Y), Corrective pattern (downward), Y complete (1 of 3 guidelines) · X = 22% of W; Y = 39% of W
Alternative (not drawn): Combination (W-X-Y-X-Z), Corrective pattern (downward), Z complete (1 of 4 guidelines)
Note: Structure ambiguous: leg W can also be read as three- or five-part.
Elliott count calculated automatically by fixed Elliott rules, not investment advice – display only, our buy zones do not use it. Provisional: The count can change with new candles.
No buy zone of the rule on this timeframe – the chart shows only the Elliott count from the completed hourly candles (recalculated every hour). Not a recommendation, not investment advice. Without a buy zone there is no reference for percentages – so no value axis and no prices; measurements are ratios of wave lengths.
Timeframe 1 week · As of Oct 23, 2026 · from the Elliott count in the analysis chart
Weighting Main scenario: ahead (3 of 3 guidelines, strong) · Alternative: behind (2 of 3, medium) Guidelines (strength of the count)Guidelines are typical features of a count, such as usual Fibonacci lengths or a change in the form of correction. Strong means: at least three quarters met, medium: at least half, otherwise weak. Even a strong count can flip.Example: 3 of 3 guidelines → strong; 2 of 4 → medium; 1 of 3 → weak.More in the Academy: Lesson wave degrees
Weighting by guidelines met – not a probability.
Big picture (weekly chart): possible wave (2) of higher degree – the price has given back 68.5% of the rise since December 2022 and is in the 61.8–78.6% zone (linear scale). Invalid on a weekly close below the start. No buy zone of the rule, not a forecast, not investment advice.
smaller wave degree Smaller wave degree: more sensitive turning-point detection, because no count fits at the usual degree – it describes shorter swings. Provisional – check the count yourself on the chart.
As long as the weekly close stays below the end of Y, this applies: complex countermove upward (Combination W-X-Y), Y complete – count points to falling prices.
Invalid if the weekly close is above the end of Y
If that breaks, the second reading no longer applies either: flat countermove downward in three waves (Flat, type known only after C), C in progress – then there is no valid count for now; the next candles will produce a new one.
Invalid if the weekly close is above the end of B
Timeframe 1 day · As of Oct 27, 2026 · from the Elliott count in the analysis chart
Weighting Main scenario: ahead (3 of 4 guidelines, strong) · Alternative: behind (2 of 3, medium) Guidelines (strength of the count)Guidelines are typical features of a count, such as usual Fibonacci lengths or a change in the form of correction. Strong means: at least three quarters met, medium: at least half, otherwise weak. Even a strong count can flip.Example: 3 of 3 guidelines → strong; 2 of 4 → medium; 1 of 3 → weak.More in the Academy: Lesson wave degrees
Weighting by guidelines met – not a probability.
smaller wave degree Smaller wave degree: more sensitive turning-point detection, because no count fits at the usual degree – it describes shorter swings. Provisional – check the count yourself on the chart. No visible sub-waves in: X, Z.
As long as the daily close stays below the end of Z, this applies: complex countermove upward (Combination W-X-Y-X-Z), Z complete – count points to falling prices.
Invalid if the daily close is above the end of Z
If that breaks, the second reading no longer applies either: complex countermove upward (Combination W-X-Y), Y complete – then there is no valid count for now; the next candles will produce a new one.
Invalid if the daily close is above the end of Y
Timeframe 4 hours · As of Oct 27, 2026 · from the Elliott count in the analysis chart
Weighting Main scenario: ahead (3 of 4 guidelines, strong) · Alternative: behind (2 of 3, medium) Guidelines (strength of the count)Guidelines are typical features of a count, such as usual Fibonacci lengths or a change in the form of correction. Strong means: at least three quarters met, medium: at least half, otherwise weak. Even a strong count can flip.Example: 3 of 3 guidelines → strong; 2 of 4 → medium; 1 of 3 → weak.More in the Academy: Lesson wave degrees
Weighting by guidelines met – not a probability.
As long as the 4-hour close stays below the end of Z, this applies: complex countermove upward (Combination W-X-Y-X-Z), Z complete – count points to falling prices.
Invalid if the 4-hour close is above the end of Z
If that breaks, the second reading no longer applies either: complex countermove upward (Combination W-X-Y), Y complete – then there is no valid count for now; the next candles will produce a new one.
Invalid if the 4-hour close is above the end of Y
Timeframe 1 hour · As of Oct 27, 2026 · from the Elliott count in the analysis chart
Weighting Main scenario: ahead (1 of 3 guidelines, weak) · Alternative: behind (1 of 4, weak) Guidelines (strength of the count)Guidelines are typical features of a count, such as usual Fibonacci lengths or a change in the form of correction. Strong means: at least three quarters met, medium: at least half, otherwise weak. Even a strong count can flip.Example: 3 of 3 guidelines → strong; 2 of 4 → medium; 1 of 3 → weak.More in the Academy: Lesson wave degrees
Weighting by guidelines met – not a probability.
As long as the hourly close stays above the end of Y, this applies: complex countermove downward (Combination W-X-Y), Y complete – count points to rising prices.
Invalid if the hourly close is below the end of Y
If that breaks, the second reading no longer applies either: complex countermove downward (Combination W-X-Y-X-Z), Z complete – then there is no valid count for now; the next candles will produce a new one.
Invalid if the hourly close is below the end of Z
IREN · Sector Technology · amounts in USD
Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Aug 27, 2026.
Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.
Fiscal year to Jun 30, 2026
68.9% Fiscal year 2026
Rank 79 of 100: higher than 79% of 153 peers (All). strong.
Rank 73 of 100: higher than 73% of 57 peers (Sector). strong.
Median Technology: 56.1%
Share of revenue left after the direct cost of the products sold.
−148.0% Fiscal year 2026
Rank 7 of 100: higher than 7% of 192 peers (All). weak.
Rank 9 of 100: higher than 9% of 60 peers (Sector). weak.
Median Technology: 14.2%
Operating income divided by revenue: what the core business earns before interest and taxes.
−99.4% Fiscal year 2026
Rank 9 of 100: higher than 9% of 237 peers (All). weak.
Rank 18 of 100: higher than 18% of 63 peers (Sector). weak.
Median Technology: 12.5%
Profit after all costs, interest and taxes divided by revenue.
−16.8% Fiscal year 2026
Rank 10 of 100: higher than 10% of 218 peers (All). weak.
Rank 19 of 100: higher than 19% of 61 peers (Sector). weak.
Median Technology: 13.5%
Net income divided by equity at fiscal year end.
−4.4% Fiscal year 2026 (total assets at year end)
Rank 13 of 100: higher than 13% of 238 peers (All). weak.
Rank 21 of 100: higher than 21% of 63 peers (Sector). weak.
Median Technology: 5.9%
Net income divided by total assets at fiscal year end.
26.5% Fiscal year 2026
Rank 39 of 100: higher than 39% of 239 peers (All). medium.
Rank 21 of 100: higher than 21% of 63 peers (Sector). weak.
Median Technology: 51.6%
Equity as a share of total assets. Usually low for banks.
−127.0% Fiscal year 2026
Rank 8 of 100: higher than 8% of 213 peers (All). weak.
Rank 14 of 100: higher than 14% of 62 peers (Sector). weak.
Median Technology: 19.0%
Free cash flow divided by revenue.
−897.6M USD Fiscal year 2026
Operating cash flow minus capital expenditure on property and equipment.
+110.8% per year
Rank 97 of 100: higher than 97% of 230 peers (All). strong.
Rank 92 of 100: higher than 92% of 59 peers (Sector). strong.
Median Technology: +14.3%
Average growth per year over 3 fiscal years.
+145.7% per year
Rank 98 of 100: higher than 98% of 217 peers (All). strong.
Rank 97 of 100: higher than 97% of 54 peers (Sector). strong.
Median Technology: +14.5%
Average growth per year over 5 fiscal years.
3 of 9 Fiscal year 2026
Rank 3 of 100: higher than 3% of 134 peers (All). weak.
Rank 6 of 100: higher than 6% of 44 peers (Sector). weak.
Median Technology: 6.0 of 9
Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.
1.81 at fiscal year end
Rank 13 of 100: lower than 13% of 199 peers (All). weak.
Rank 10 of 100: lower than 10% of 54 peers (Sector). weak.
Median Technology: 0.41
Long-term financial debt divided by equity.
3.55 at fiscal year end
Rank 85 of 100: higher than 85% of 215 peers (All). strong.
Rank 80 of 100: higher than 80% of 63 peers (Sector). strong.
Median Technology: 2.02
Current assets divided by current liabilities.
+1,432.4% in 5 years
Rank 2 of 100: lower than 2% of 199 peers (All). weak.
Rank 1 of 100: lower than 1% of 51 peers (Sector). weak.
Median Technology: +2.8%
Change in diluted share count. Negative = share buybacks, positive = new shares.
Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.
Price-based criteria (P/E, dividend yield) are shown to signed-in users.
Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.
Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.
Fiscal year 2026 (Jul 1, 2025 – Jun 30, 2026): Revenue 707.0M USD · Net income −702.6M USD · Net margin −99.4%
Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.
Of 100 USD of revenue, 68.9 USD gross profit remained.
Operating loss: −148.0% of revenue
| Item | Amount | of revenue |
|---|---|---|
| Revenue | 707.0M USD | 100.0% |
| Gross profit | 487.3M USD | 68.9% |
| Cost of revenue | 219.7M USD | 31.1% |
| Operating expenses | 1.5B USD | 217.0% |
Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.
The operating margin fell in 5 years from −6.6% to −148.0%.
Gross marginOperating marginNet margin Margins above ±200% hidden (revenue very small relative to the result).Return on equity rose in 4 years from −96.0% to −16.8%.
Return on equityReturn on assetsThe equity ratio rose in 5 years from −36.8% to 26.5%.
EquityLong-term debt in USD Long-term debt, depending on the filing, includes the current portion or leases. Definition changes: some years use a different debt tag.The current ratio rose in 5 years from 0.24 to 3.55.
Current ratioFree cash flow fell in 5 years from −5.5M USD to −897.6M USD.
Operating cash flowCapital expenditureFree cash flow in USDThe share count rose in 5 years by 1,432.4% – more new shares were issued than repurchased (dilution).
Diluted share countFrom annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.
How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.
Dividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.
Price-based valuation (P/E, P/S, price/free cash flow and dividend yield per fiscal year, compared with its own average) for signed-in users. Log in
IREN next to 8 stocks of the sector Technology we cover that are closest in revenue. Click a column header to sort the table.
| Symbol | Revenue (FY) | Growth 5 yrs | Gross margin | Op. margin | Net margin | ROE | Equity ratio | FCF margin | Piotroski |
|---|---|---|---|---|---|---|---|---|---|
| ENPH Enphase Energy | 1.5B USD | +13.7% | 46.6% | 10.7% | 11.7% | 15.8% | 31.0% | 6.5% | 6/9 |
| CRDO Credo Technology Group | 1.3B USD | +86.8% | 68.0% | 33.3% | 35.4% | 22.9% | 89.9% | 30.5% | – |
| MARA MARA Holdings | 907.1M USD | +190.9% | – | −135.0% | −144.6% | −37.8% | 47.6% | −133.4% | – |
| TE T1 Energy | 755.3M USD | – | 7.4% | −31.1% | −48.7% | −146.9% | 18.2% | 2.2% | 6/9 |
| IREN IREN this stock | 707.0M USD | +145.7% | 68.9% | −148.0% | −99.4% | −16.8% | 26.5% | −127.0% | 3/9 |
| RIOT Riot Platforms | 647.4M USD | +121.7% | – | −96.1% | −102.4% | −23.2% | 72.6% | −119.6% | – |
| NBIS Nebius Group | 529.8M USD | – | 68.6% | −115.5% | 15.6% | 1.8% | 37.0% | −694.8% | – |
| AAOI Applied Optoelectronics | 455.7M USD | +14.2% | 30.0% | −12.0% | −8.4% | −5.2% | 62.8% | −77.6% | 5/9 |
| AI C3.ai | 250.3M USD | +6.4% | 30.9% | −199.2% | −187.9% | −71.9% | 80.1% | −76.8% | – |
| Median of the sector 63 symbols | 11.0B USD | +14.5% | 56.1% | 14.2% | 12.5% | 13.5% | 51.6% | 19.0% | 6/9 |
Growth 5 yrs = revenue growth per year over 5 fiscal years · Op. margin = operating margin · ROE = return on equity · FCF = free cash flow · Piotroski = F-Score (only with all 9 criteria).
Figures of the last fiscal year from SEC annual reports (peers as of Oct 28, 2026). Median across all companies of the sector we cover (from 5 stocks; several share classes of one company count once). Signed-in users also see P/E, P/S and dividend yield in the comparison. Describes the reported figures – not investment advice.
Each light follows a simple, disclosed rule. The comparison is with the sector median Sector medianThe middle value of all companies in a sector: half are above it, half below. Unlike the average, single outliers hardly distort it.Example: Margins 4%, 8%, 10%, 12%, 60% → median 10%, average 18.8%.More in the Academy: Lesson putting the P/E in context of all 97 symbols in the Technology sector on our list (current members of the S&P 500 and other lists).
+145.7% per year, last 5 years
Sector Technology: median +13.5% (88 symbols)
What does this mean? Revenue: over 5 years it grew by 145.7% per year on average – at least as fast as the median company in the sector (+13.5%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
– per year, last 5 years
Sector Technology: median +13.3% (62 symbols)
per share: not computable (loss in the first or last year)
What does this mean? There was a loss in the first or last year. An annual growth rate cannot be calculated meaningfully then.
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
−99.4% last fiscal year
Sector Technology: median 12.5% (97 symbols)
What does this mean? Of every 100 USD in revenue there was no profit but a loss of 99.38 USD. Five years ago the margin was −764.6%.
Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.
1.81 latest balance sheet
Sector Technology: median 0.45 (79 symbols)
What does this mean? For every 1 USD of equity there is 1.81 USD of financial debt – more than twice as much as the median company in the sector (0.45). More debt amplifies good and bad years alike.
Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.
– Dividend / earnings per share
Sector Technology: median 30% (36 symbols)
What does this mean? The loaded SEC filings of the last two fiscal years contain no dividend per share. Either the company pays none, or it reports it under a different tag.
Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.
1 of 7 fiscal years with a profit
What does this mean? In 1 of the last 7 fiscal years the bottom line showed a profit. 6 years ended with a loss.
Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).
| Year | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| 2026 | Jun 30, 2026 | 707.0M | −702.6M | −99.4% | −2.22 | 0.00 | – |
| 2025 | Jun 30, 2025 | 501.0M | 86.9M | 17.4% | 0.39 | 0.00 | 0% |
| 2024 | Jun 30, 2024 | 187.2M | −28.9M | −15.4% | −0.29 | 0.00 | – |
| 2023 | Jun 30, 2023 | 75.5M | −171.8M | −227.6% | −3.14 | 0.00 | – |
| 2022 | Jun 30, 2022 | 59.0M | −419.8M | −711.0% | −10.25 | – | – |
| 2021 | Jun 30, 2021 | 7.9M | −60.4M | −764.6% | −2.93 | – | – |
| 2020 | Jun 30, 2020 | 2.2M | −2.1M | −98.5% | −0.13 | – | – |
| Quarter | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| Q2/26* | Jun 30, 2026 | – | −684.0M | – | – | – | – |
| Q1/26 | Mar 31, 2026 | 144.8M | −247.8M | −171.2% | −0.74 | 0.00 | – |
| Q4/25 | Dec 31, 2025 | 184.7M | −155.4M | −84.1% | −0.52 | 0.00 | – |
| Q3/25 | Sep 30, 2025 | 240.3M | 384.6M | 160.1% | 1.08 | 0.00 | 0% |
| Q2/25* | Jun 30, 2025 | – | 176.7M | – | – | – | – |
| Q1/25 | Mar 31, 2025 | 144.8M | −16.1M | −11.1% | −0.07 | 0.00 | – |
| Q4/24 | Dec 31, 2024 | 116.1M | −21.9M | −18.8% | −0.10 | 0.00 | – |
| Q3/24 | Sep 30, 2024 | 52.8M | −51.7M | −98.0% | −0.27 | 0.00 | – |
| Q1/24 | Mar 31, 2024 | 54.3M | 8.6M | 15.9% | 0.08 | – | – |
| Q4/23 | Dec 31, 2023 | 42.6M | −5.2M | −12.3% | −0.07 | – | – |
| Q3/23 | Sep 30, 2023 | – | −5.3M | – | −0.00 | – | – |
| Q1/23 | Mar 31, 2023 | 16.4M | −3.1M | −18.6% | −0.06 | – | – |
* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.
How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.
In the last 12 months, insiders of this stock have not acquired or disposed of shares on the market (SEC Form 4).
Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.
ATR ATR (Average True Range)The average range per trading day over the last 14 days. It makes distances comparable, whether a stock costs 10 or 1,000.Example: ATR 2.50 at a price of 100: 0.4 ATR is 1.00, i.e. 1%.More in the Academy: Lesson ATR and moving averages as price values only when logged in.
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