Question 1

What is IREN's P/S ratio?

Accepted Answer

IREN (IREN) P/S ratio is 16.2× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. 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/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

What is a good P/S ratio for IREN?

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For IREN specifically, the relevant sector benchmark is the current sector median of 2.2×.

Question 5

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

Accepted Answer

IREN's P/S ratio of 16.2× is below its own 5-year average of 23.8× and above the sector median of 2.2×. That places the current reading at the 84th 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/S ratio range?

Accepted Answer

In the available daily series, IREN (IREN) P/S ratio has ranged from a low of 1.1× in 2022 to a high of 507.2× in 2020. The 5-year average is 23.8× and the 5-year median is 6.8×.

Question 7

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

Accepted Answer

IREN (IREN) P/S ratio at the end of 2025 was 6.3×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). 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	$501.02M	6.3×	-4.1×	Jun 30, 2025
2024	$1.95B	$187.19M	10.4×	+6.8×	Jun 30, 2024
2023	$263.38M	$74.28M	3.5×	-0.3×	Jun 30, 2023
2022	$177.50M	$45.86M	3.9×	-216.4×	Jun 30, 2022
2021	$1.29B	$5.88M	220.2×	+42.9×	Jun 30, 2021
2020	$389.65M	$2.20M	177.3×	—	Jun 30, 2020


Brookfield (BN)	1.3×
The Hartford (HIG)	1.3×
Chesapeake Financial Shares (CPKF)	1.3×
American Financial Group (AFG)	1.3×
Progressive (PGR)	1.3×
Markel (MKL)	1.3×
PSB Holdings (PSBQ)	1.3×
Principal Financial Group (PFG)	1.3×
Travelers Companies (TRV)	1.3×
PayPal (PYPL)	1.2×
Loews (L)	1.2×
Synchrony Financial (SYF)	1.2×
Citigroup (C)	1.2×
AXIS Capital Holdings (AXS)	1.1×
RenaissanceRe Holdings (RNR)	1.1×
Old Republic International (ORI)	1.0×
Everest Re Group (RE)	0.9×
Assurant (AIZ)	0.8×
Allstate (ALL)	0.8×
Mercury General (MCY)	0.8×
Ally Financial (ALLY)	0.8×
Everest Re Group (EG)	0.8×
MetLife (MET)	0.6×
Prudential Financial (PRU)	0.5×
StoneX Group (SNEX)	0.0×

P/S Ratio for IREN (IREN)

P/S Ratio daily chart for IREN (IREN)

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

About P/S Ratio at IREN (IREN)

IREN P/S Ratio by Year

IREN P/S Ratio 2025: 6.3×

IREN P/S Ratio 2024: 10.4×

IREN P/S Ratio 2023: 3.5×

IREN P/S Ratio 2022: 3.9×

IREN P/S Ratio 2021: 220.2×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

IREN (IREN) Key Financials

P/S Ratio daily chart for IREN (IREN)

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

About P/S Ratio at IREN (IREN)

IREN P/S Ratio by Year

IREN P/S Ratio 2025: 6.3×

IREN P/S Ratio 2024: 10.4×

IREN P/S Ratio 2023: 3.5×

IREN P/S Ratio 2022: 3.9×

IREN P/S Ratio 2021: 220.2×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

+What is IREN's P/S ratio?

+How is the P/S ratio calculated?

+What is the P/S ratio?

+What is a good P/S ratio for IREN?

+Is IREN's P/S ratio high or low?

+What is IREN's historical P/S ratio range?

+What was IREN's P/S ratio in 2025?

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

IREN (IREN) Key Financials