Company Valuation: IREN Limited

Data adjusted to current consolidation scope
Fiscal Period: June 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 177.6 256.2 1,655 3,524 16,343 16,456 - -
Change - 44.23% 545.9% 112.94% 363.76% 0.69% - -
Enterprise Value (EV) 1 176 188.8 1,252 3,922 18,095 39,305 54,555 67,622
Change - 7.28% 563.22% 213.28% 361.34% 117.22% 38.8% 23.95%
P/E -0.33x -1.49x -38.9x 37.4x -20.6x -21.7x -178x -57x
PBR 0.31x 0.84x 1.03x 2.07x 4.15x 5.61x 11.8x -29.4x
PEG - 0x 0.4x -0x 0x 1.6x 2x -0x
Capitalization / Revenue 3.01x 3.39x 8.77x 6.9x 23.1x 5.87x 2.25x 1.17x
EV / Revenue 2.98x 2.5x 6.63x 7.68x 25.6x 14x 7.46x 4.82x
EV / EBITDA 6.71x 137x 22.9x 14.5x 73.6x 21x 9.37x 6.31x
EV / EBIT 9.52x -6.4x 307x 44.3x -17.3x -54.9x 56.2x 536x
EV / FCF - - -14x -12x -8.1x -1.9x -3.07x -3.93x
FCF Yield - - -7.12% -8.35% -12.3% -52.6% -32.6% -25.4%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -10.25 -3.138 -0.29 0.39 -2.22 -1.922 -0.2341 -0.7323
Distribution rate - - - - - - - -
Net sales 1 59.04 75.51 188.8 510.4 707 2,802 7,310 14,017
EBITDA 1 26.23 1.379 54.7 269.7 245.7 1,876 5,824 10,710
EBIT 1 18.49 -29.48 4.077 88.6 -1,047 -715.9 970.9 126.1
Net income 1 -419.8 -171.9 -28.96 86.9 -702.6 -913.2 -700.5 -1,050
Net Debt 1 -1.683 -67.45 -402.9 398.2 1,752 22,849 38,099 51,166
Reference price 2 3.35 4.66 11.29 14.57 45.73 41.76 41.76 41.76
Nbr of stocks (in thousands) 53,029 54,983 146,584 241,867 357,379 394,059 - -
Announcement Date 9/13/22 9/13/23 8/28/24 8/28/25 8/27/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-63.46x8.36x38.85x-.--% 48.28B
-1.2x - - - 15.85B
-21.73x14.03x20.95x-.--% 16.46B
-16.82x50.03x-51.31x - 11.05B
-4.88x44.89x208.78x - 7.73B
-7.17x11.43x-31.93x-.--% 7.4B
-28.53x18.4x44.49x - 7.4B
-11.97x47.39x-333.25x-.--% 6.52B
-8.6x - - -.--% 5.19B
Average -18.26x 27.79x -14.77x 0% 13.99B
Weighted average by Cap. -32.18x 19.69x 11.32x 0%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield