Iris Energy Ltd

Iris Energy Ltd

IREN

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Market Cap$22.67B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Iris Energy LtdIris Energy Ltd178.9--13%20.61.5

Earnings Call Q3 2026

May 7, 2026 - AI Summary

Record execution + capacity ramp (core bull case): IREN increased secured power to 5 GW, added sites in Europe (Spain via acquisition) and APAC, and is driving “time to compute” through repeatable construction templates. All operational capacity is fully contracted (they’re not chasing demand—building supply fast enough for it).
Revenue/contracting progress + 2026 forecast: ARR under contract = $3.1B, reaffirmed target $3.7B exiting calendar 2026 (back-end weighted). They described a 2026 build plan targeting 480 MW AI cloud, ~150k GPUs, with Horizon One–Four (liquid-cooled) at Childress: 300 MW, scheduled Microsoft handoff in Q3 2026; other liquid-cooled + air-cooled conversions progressing in BC/Childress/Mackenzie/Prince George.
Major surprise/opportunity: NVIDIA partnership ties capital to deployment: Announced a $3.54B five-year AI cloud contract (NVIDIA internal workloads—first step) plus a $2.1B NVIDIA investment aligned to up to 5 GW NVIDIA DSX-aligned infrastructure across IREN’s platform (DGX environments / DSX AI Factory reference architecture). NVIDIA’s rights to invest vest only as GPU infrastructure is deployed, fully tied to deployment of ~600k GPUs—i.e., “partner wins as we deliver.”

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$67.67

Target Price by Analysts

9.4% upsideIris Energy Target Price DetailsTarget Price

Share Statistics

Market cap$22.67 Billion
Enterprise Value$24.45 Billion
Dividend Yield$- (-)
Earnings per Share$0.41
Beta4.18
Outstanding Shares216,623,384

Return

Return on Equity-12.82%ROE
Return on Assets-4.70%
Return on Invested Capital-6.72%

Valuation & Multiples

P/E Ratio178.94P/E Ratio
PEG-13.32PEG
Price to Sales20.62Price to Sales
Price to Book Ratio5.16Price to Book Ratio
Enterprise Value to Revenue29.8
Enterprise Value to EBIT-54.99
Enterprise Value to Net Income-72
Total Debt to Enterprise0.16
Debt to Equity1.5Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
May 13, 2026
EPS Estimate
$-0.22
Average shareholder expectation
Revenue Estimate
$219.76 M
Average shareholder expectation

Next Earnings Call

Expected Date
August 27, 2026
EPS Estimate
$-0.26
Average shareholder expectation
Revenue Estimate
$187.13 M
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.9995 9.63%
Total Calls65,439,028 20.84%
Total Puts65,408,670 27.80%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %76.78% 10.77%
Total Invested$5.66B 5.60%
Investors Holding570 82.00%

ESG Score

No data

About Iris Energy Ltd

Relevant Senate Committees

Joint Committee on Taxation

This committee provides critical analysis and official revenue estimates for all tax legislation, directly influencing tax policies that impact corporate structures and capital investments for companies like Iris Energy.

Finance

This is a powerful economic committee controlling taxation and trade. Tax policy (corporate, capital gains on crypto, energy tax credits) directly impacts Iris Energy's profitability and investment decisions.

Agriculture, Nutrition, and Forestry

This committee oversees the CFTC and plays a critical role in defining cryptocurrencies as digital commodities, which has profound regulatory implications for Bitcoin mining and the broader crypto market.

Banking, Housing, and Urban Affairs

This committee is a primary regulator of the financial system, including potential cryptocurrency regulation (e.g., classification, banking access), which could directly impact Iris Energy's business model and the value of the asset it mines.

Energy and Natural Resources

This committee directly oversees national energy policy, which is the primary operational cost for a Bitcoin mining company like Iris Energy. Decisions on energy production, infrastructure, and renewable energy incentives are highly relevant.

Environment and Public Works

Bitcoin mining is highly energy-intensive. This committee's regulation of the EPA and environmental policy directly impacts energy sourcing, emissions, and potential environmental compliance costs for Iris Energy's operations.