IREN Limited

IRENNASDAQFinancial Services● Active

$54.35

$-7.51(-12.14%)

Market Cap$19.4B

P/E Ratio—

52W High$76.87

52W Low$8.82

Avg Volume42.5M

Open$59.28

Beta4.23

Overview

IREN Limited (IREN) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

IREN · free cash flow · updated Jun 8, 2026

Core FCF metrics

IREN · FCF · TTM · margin & CAGR

Free cash flow was −$1.13B for FY2025 (fiscal year ending 2025-06-30), down 163.8% year-over-year The FCF margin was -224.9%.

FY2025 Free Cash Flow−$1.13B▼ -163.8% YoY

Trailing 12M (TTM)−$689.5Mtrailing 4 quarters sum

FCF Margin-224.9%−$1.13B ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

IREN · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$245.9M(1.37B)−$1.13B▼ 163.8%-224.9%

FY2024$52.2M(480M)−$427.2M▼ 288.3%-228.2%

FY2023$5.7M(116M)−$110.0M▲ +59.7%-145.7%

FY2022$21.6M(294M)−$272.7M▼ 6499.8%-461.9%

FY2021$1.3M(5M)−$4.1M▲ +22.4%-69.7%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

IREN · P/FCF · FCF yield · FCF per share

IREN Limited (IREN) reported negative free cash flow of −$1.13B. FCF-based valuation ratios are not meaningful when FCF is negative.

FCF Yield (TTM)

N/A

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

N/A

TTM FCF ÷ Shares Outstanding

Price / FCF

N/A

Share Price ÷ FCF per Share

EV / FCF (TTM)

N/A

Enterprise Value basis

FCF-based valuation ratios are only meaningful when free cash flow is positive. Negative FCF indicates capital expenditures exceeded operating cash flow.

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-06-30

Cash flow statement summary

IREN · cash flow statement · operating / investing / financing

For FY2025, IREN Limited generated $245.9M in operating cash flow and spent 1.37B in capital expenditures, yielding −$1.13B in free cash flow.

Operating Activities

+$245.9M

Cash from core business operations

2025-06-30

Investing Activities

−$1.38B

CapEx, acquisitions & investments

2025-06-30

Financing Activities

+$1.29B

Buybacks, dividends & debt

2025-06-30

FCF FormulaOperating CF ($245.9M) − |CapEx| (1.37B) = FCF (−$1.13B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

IREN vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

IREN LimitedYOU

IREN

−$1.13B-163.8%-224.9%

Loss

Berkshire Hathaway Inc.

BRK-A

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

IREN Limited (IREN) reported free cash flow of −$1.13B for FY2025 (fiscal year ending 2025-06-30), down 163.8% year-over-year. The FCF margin was -224.9%.

IREN Limited has reported negative free cash flow in recent periods, indicating capital expenditures have exceeded operating cash flow. Data available for 7 fiscal years.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

IREN free cash flow · 8 questions

IREN Limited free cash flow was −$1.13B for FY2025, down 163.8% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$689.5M.

IREN free cash flowIREN FCFIREN FCF 2025IREN free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · IREN Limited · IREN Limited SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026