Iren Ltd. (IREN) intrinsic value & 10-year financials
Iren Ltd. (IREN) has a Graham intrinsic value of $12.95 per share. At $26.99 on Oct 17, 2026, the stock trades 108% above that value. Over the last 4 fiscal years revenue grew 157.6% a year to $501.0M, with an average return on invested capital of -14.9%.
- Graham intrinsic value
- $12.95
- Share price (Oct 17, 2026)
- $26.99
- Price vs Graham value
- 108% above
- Market cap
- $6.0B
- Revenue (FY2025)
- $501.0M
- Revenue growth (4-yr CAGR)
- 157.6%
- ROIC (10-yr avg)
- -14.9%
- Free cash flow (FY2025)
- -$327.6M
IREN 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $501.0M | $86.9M | $0.39 | -$327.6M | 3.5% | 1.7% |
| FY2024 | $187.2M | -$28.9M | -$0.29 | -$89.6M | -14.5% | -3.9% |
| FY2023 | $75.5M | -$171.8M | -$3.14 | -$110.3M | -208.2% | -42.3% |
| FY2022 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
IREN Ltd revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
IREN Ltd has historically struggled to out-earn its cost of capital, averaging just -14.9% ROIC.
IREN Ltd capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, IREN Ltd is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $12.95 per share.