Question 1

What is IREN's P/E ratio?

Accepted Answer

IREN (IREN) P/E ratio is 121.4× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for IREN?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For IREN specifically, the relevant sector benchmark is the current sector median of 29.4×.

Question 5

Is IREN's P/E ratio high or low?

Accepted Answer

IREN's P/E ratio of 121.4× is below its own 5-year average of 172.3× and above the sector median of 29.4×. That places the current reading at the 60th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is IREN's historical P/E ratio range?

Accepted Answer

In the available daily series, IREN (IREN) P/E ratio has ranged from a low of 17.3× in 2025 to a high of 2974.0× in 2025. The 5-year average is 172.3× and the 5-year median is 61.5×.

Question 7

What was IREN's P/E ratio in 2025?

Accepted Answer

IREN (IREN) P/E ratio at the end of 2025 was 543.1×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does IREN's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$3.16B	$5.81M	543.1×	—	Jun 30, 2025
2024	$1.95B	-$29M	—	—	Jun 30, 2024
2023	$263M	-$235M	—	—	Jun 30, 2023
2022	$177M	-$286M	—	—	Jun 30, 2022
2021	$1.29B	-$45.4M	—	—	Jun 30, 2021
2020	$390M	-$2.18M	—	—	Jun 30, 2020


Dell Technologies (DELL)	16.2×
Western Digital (WDC)	15.7×
Accenture (ACN)	15.4×
Gartner (IT)	14.9×
CDW (CDW)	14.5×
Adobe (ADBE)	14.4×
Leidos Holdings (LDOS)	14.1×
Zoom Communications (ZM)	13.8×
QUALCOMM (QCOM)	13.7×
PTC (PTC)	13.5×
Paycom Software (PAYC)	13.2×
Elastic N.V. (ESTC)	13.2×
Cognizant (CTSH)	13.1×
First Solar (FSLR)	12.7×
GoDaddy (GDDY)	12.7×
Gen Digital (GEN)	11.7×
Duolingo (DUOL)	10.9×
Super Micro Computer (SMCI)	10.9×
Science Applications International (SAIC)	10.3×
Fiserv (FISV)	9.3×
Fidelity National Information Services (FIS)	9.0×
HP (HPQ)	7.5×
Sunrun (RUN)	5.6×
Lyft (LYFT)	1.8×
IBM (IBM)	0.0×

P/E Ratio for IREN (IREN) 2025-2026

P/E Ratio daily chart for IREN (IREN)

Historical P/E Ratio for IREN (IREN) from 2020 to 2025

About P/E Ratio at IREN (IREN)

IREN P/E Ratio by Year

IREN P/E Ratio 2025: 543.1×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

IREN (IREN) Key Financials