IREN Ltd
IREN Limited operates in the vertically integrated data center business in Australia and Canada. The company owns and operates computing hardware, as well as electrical infrastructure and data centers. It also mines Bitcoin, a scarce digital asset that is created and transmitted through the operation of a peer-to-peer network of computers running the Bitcoin software. The company was formerly kno… Read more
IREN Ltd (IREN) - Net Assets
Latest net assets as of December 2025: $2.51 Billion USD
Based on the latest financial reports, IREN Ltd (IREN) has net assets worth $2.51 Billion USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($7.03 Billion) and total liabilities ($4.52 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $2.51 Billion |
| % of Total Assets | 35.73% |
| Annual Growth Rate | 218.14% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 313.55 |
IREN Ltd - Net Assets Trend (2019–2025)
This chart illustrates how IREN Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for IREN Ltd (2019–2025)
The table below shows the annual net assets of IREN Ltd from 2019 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-06-30 | $1.82 Billion | +65.57% |
| 2024-06-30 | $1.10 Billion | +259.47% |
| 2023-06-30 | $305.36 Million | +17.82% |
| 2022-06-30 | $259.18 Million | +797.95% |
| 2021-06-30 | $-37.13 Million | -484.25% |
| 2020-06-30 | $9.66 Million | +452.17% |
| 2019-06-30 | $1.75 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to IREN Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 59605958700.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (June 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $2.36 Billion | 129.58% |
| Other Comprehensive Income | $-30.07 Million | -1.65% |
| Other Components | $88.67 Million | 4.88% |
| Total Equity | $1.82 Billion | 100.00% |
IREN Ltd Competitors by Market Cap
The table below lists competitors of IREN Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Domino's Pizza Inc Common Stock
NASDAQ:DPZ
|
$12.91 Billion |
|
Sun Hung Kai Properties Limited
PINK:SUHJF
|
$12.91 Billion |
|
Rithm Capital Corp
NYSE:RITM-PE
|
$12.94 Billion |
|
Neurocrine Biosciences Inc
NASDAQ:NBIX
|
$12.95 Billion |
|
FIGIF
PINK:FIGIF
|
$12.88 Billion |
|
Gaming & Leisure Properties
NASDAQ:GLPI
|
$12.88 Billion |
|
Vedanta Limited
NSE:VEDL
|
$12.88 Billion |
|
Guidewire Software Inc
NYSE:GWRE
|
$12.85 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in IREN Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,097,471,000 to 1,817,488,000, a change of 720,017,000 (65.6%).
- Net income of 86,941,000 contributed positively to equity growth.
- New share issuances of 602,681,000 increased equity.
- Other comprehensive income increased equity by 4,921,000.
- Other factors increased equity by 25,474,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $86.94 Million | +4.78% |
| Share Issuances | $602.68 Million | +33.16% |
| Other Comprehensive Income | $4.92 Million | +0.27% |
| Other Changes | $25.47 Million | +1.4% |
| Total Change | $- | 65.61% |
Book Value vs Market Value Analysis
This analysis compares IREN Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 5.28x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 400.01x to 5.28x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2019-06-30 | $0.11 | $42.96 | x |
| 2020-06-30 | $0.11 | $42.96 | x |
| 2021-06-30 | $-0.65 | $42.96 | x |
| 2022-06-30 | $10.68 | $42.96 | x |
| 2023-06-30 | $5.57 | $42.96 | x |
| 2024-06-30 | $11.01 | $42.96 | x |
| 2025-06-30 | $8.14 | $42.96 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently IREN Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 4.78%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 17.35%
- • Asset Turnover: 0.17x
- • Equity Multiplier: 1.62x
- Recent ROE (4.78%) is above the historical average (-27.77%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2019 | -9.21% | -15301.04% | 0.00x | 1.06x | $-336.14K |
| 2020 | -35.06% | -98.53% | 0.19x | 1.89x | $-2.75 Million |
| 2021 | 0.00% | -764.62% | 0.08x | 0.00x | $-56.68 Million |
| 2022 | -95.98% | -711.03% | 0.15x | 0.90x | $-463.51 Million |
| 2023 | -56.27% | -227.56% | 0.23x | 1.09x | $-202.36 Million |
| 2024 | -2.64% | -15.45% | 0.16x | 1.05x | $-138.67 Million |
| 2025 | 4.78% | 17.35% | 0.17x | 1.62x | $-94.81 Million |
Industry Comparison
This section compares IREN Ltd's net assets metrics with peer companies in the Capital Markets industry.
Industry Context
- Industry: Capital Markets
- Average net assets among peers: $277,925,984
- Average return on equity (ROE) among peers: -4.75%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| IREN Ltd (IREN) | $2.51 Billion | -9.21% | 1.80x | $12.89 Billion |
| Armada Mercantile Ltd (AAMTF) | $197.80K | -9.79% | 0.44x | $3.53 Million |
| ABG Sundal Collier Holding ASA (ABGSF) | $1.65 Billion | 37.94% | 2.19x | $207.31 Million |
| Athena Bitcoin Global (ABIT) | $-1.06 Million | 0.00% | 0.00x | $16.38 Million |
| ABS-CBN Holdings Corporation (ABSOF) | $0.00 | 0.00% | 0.00x | $5.67 Million |
| American Bitcoin Corp (ABTC) | $1.02 Billion | 42.26% | 0.09x | $204.84 Million |
| Abits Group Inc. (ABTS) | $6.57 Million | -41.72% | 0.18x | $4.62 Million |
| Argentex Group PLC (AGXTF) | $43.40 Million | -3.00% | 2.61x | $4.51 Million |
| Sphere 3D Corp (ANY) | $40.32 Million | -58.05% | 0.24x | $4.44 Million |
| Argo Blockchain PLC (ARBKF) | $27.19 Million | -15.14% | 0.01x | $2.16 Million |
| Arcane Crypto AB (ARCNF) | $-17.00K | 0.00% | 0.00x | $1.38 Million |