All three tenses have at least two readings, so the archetype blend applies as printed.
Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.
What did they actually do?
Has it survived what it has been through?
1 warning event since 2021; the latest 2025-11-28.
From the record
IREN Limited's filings since 2021 show 1 warning event: an auditor change (8-K item 4.01, the latest 2025-11-28) (its current reports).
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What has it actually done, year after year?
+110.7% a year over 4 filed years; profitable in 1 of 4.
From the record
IREN Limited's 4 filed years say what it did: revenue went from $76 million in fiscal 2023 to $707 million in fiscal 2026, up 110.7% a year; it rose in 3 of 3 years; it never fell from a peak; net income was positive in 1 of 4 of those years (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How has it treated the people who own it?
Share count grew 79.3% a year. 0% of cash flow returned. Insiders: 0 sales, 0 purchases.
From the record
Over the 3 fiscal years to 2026-06-30, IREN Limited's diluted share count grew about 79.3% a year, and dividends and buybacks returned about 0% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 0 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are they doing right now?
Is it financially healthy right now?
ROE -17%: lost 17¢ per shareholder dollar. Leverage 73%: owes 73¢ per asset dollar.
From the record
Return on equity: in the fiscal year ended 2026-06-30, IREN Limited lost about 17 cents for every dollar of shareholders' money, and gross profitability: its products earned about 3 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 73 cents per dollar of assets, and net share issuance: its share count grew 41.6% over the year (the filed statements).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How strong is its position in its industry?
top 29% of 114 in its family; net margin -99.4%.
From the record
IREN Limited's standing among 114 graded names in its industry family: revenue of $707 million in fiscal 2026 ranks in the top 18% by size; a net margin of -99.4% ranks in the bottom 42%; revenue growth of 110.7% a year over the last 3 filed years ranks in the top 11% (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are the people in charge doing?
SI estimate 5.8/10, confidence 35 of 100 (one part).
SI estimate Inferred, not read as filed
From the record
SI estimate, not a filed reading: IREN Limited's leadership is put at 5.8 of 10 with a confidence of 35 of 100, because read from one part only, officer and director changes on Form 8-K over three years, against the people in charge, which ranks in the top 42% of 92 in its family; the record of its people begins on 2025-07-01 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 1.4 years and cannot see past it; a floor under five years is not read as years in charge. A filing that carries the missing parts replaces this estimate with the filed reading.
What are they set up to do next?
How much room does it have to grow?
bottom 41% of 108 in its family for room to expand.
From the record
IREN Limited's room to grow, from the newest filed statements (fiscal 2026): cash of $7.6 billion against debt of $7.6 billion leaves 0.2% of its assets as net cash, bottom 22% of its family; cash from operations less capital spending is -127% of revenue (bottom 30%); a gross margin of 68.9% (top 30%) (its annual report).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What could actually drive growth from here?
top 28% of 100 in its family for growth drivers.
From the record
IREN Limited's growth drivers, from the filed years to fiscal 2026: revenue grew 110.7% a year over the last three filed years against 110.7% over all 4, speeding up (top 42% of its family); the newest year grew 41.1% (top 30%); capital spending grew 195.5% a year (top 13%) (its annual reports). IREN Limited reported 2 product lines in fiscal 2026: Bitcoin Mining at $578 million (82%), AI Cloud Services at $129 million (18%); 2 of 2 grew against the year before (its annual report).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
Did its newest year beat what its own record pointed to?
bottom 23% of 78 in its family for expectations against reality.
From the record
IREN Limited's newest year against its own record: revenue of $707 million in fiscal 2026 came in 45.2% below the $1.3 billion its prior three years' pace pointed to (bottom 16% of its family); net income of $703 million against a prior three-year average of $38 million (bottom 12%); a net margin of -99.4% against -75.2% before (bottom 42%) (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made