A Fresh Look at IREN (NasdaqGS:IREN) Valuation Following Earnings Surge and New CFO Announcement

If you’ve been following IREN (NasdaqGS:IREN) lately, you might have noticed a surge in investor buzz around the stock. That uptick is tied to two key events: the company just released quarterly results showing major jumps in both revenue and earnings, and there is a leadership shake-up as IREN announced a new chief financial officer with deep experience in global capital markets. For investors weighing next steps, these changes signal that strategic and financial priorities may be shifting at a pivotal time.

The market appears to have taken notice, judging by the impressive moves in IREN’s share price this year. Over the past twelve months, the stock has surged 347 percent as growth momentum accelerated, building on a string of upbeat announcements including better-than-expected sales figures and a reversal to positive net income. While recent performance certainly stands out, the longer three-year picture is even more dramatic, reflecting both past volatility and rapid upswings as IREN’s business scaled up.

With the company’s latest results and a fresh leadership dynamic, the question for investors is whether IREN is currently undervalued or if all this future growth is already reflected in the share price.

Most Popular Narrative: 26.7% Overvalued

The most widely-followed view on IREN shares is clear: the current valuation bakes in robust growth, leaving limited upside in the near term.

“IREN now controls 820 MW of operational data centre capacity, and has locked in 2.9 GW of secured power pipeline. That’s more than any other public mining or AI infrastructure firm. This secured footprint provides visibility into multi-year expansion, de-risks execution, and reinforces the repeatability of its vertically integrated approach.”

How does one company go from niche miner to infrastructure heavyweight, chasing scale and profit where others stall? Something big is brewing beneath the surface. What makes this narrative really bold is not just its eye-catching growth targets. The secret sauce is a mix of aggressive expansion, ambitious cost management, and new revenue angles that could surprise even seasoned investors. Ready to discover the logic behind this market-beating thesis?

Result: Fair Value of $26.54 (OVERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, a sharp downturn in Bitcoin prices or unexpected share dilution could quickly challenge even the most optimistic projections for IREN’s continued outperformance.

Find out about the key risks to this IREN narrative.

Another View: Is the DCF Telling a Different Story?

While the most popular view points to limited upside, our SWS DCF model looks at IREN’s cash flows and arrives at its own conclusion. This offers a different lens on whether the shares are still a bargain or already stretched. Which approach deserves more trust?

Look into how the SWS DCF model arrives at its fair value.

Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out IREN for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.

Build Your Own IREN Narrative

If these perspectives do not quite align with your own, you can dive into the numbers and craft a unique story of your own in just a few minutes. Do it your way

A great starting point for your IREN research is our analysis highlighting 2 key rewards and 3 important warning signs that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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