Iren (IREN) EV to EBITDA (2021 - 2026)
Iren's (IREN) quarterly EV to EBITDA came in at 43.89 in Q2 2026, down 185.59% year-over-year from 51.28 in Q2 2025, and up 51.61% quarter-over-quarter from 90.71 in Q1 2026.
Analysis
Iren (IREN) EV to EBITDA (2021 - 2026) Analysis & Trends
Iren (IREN) has reported EV to EBITDA for 6 consecutive years, with 43.89 the latest figure, recorded in Q2 2026.
- On a quarterly basis, EV to EBITDA fell 185.59% year-over-year to 43.89 in Q2 2026; TTM through Jun 2026 was 26.02, a 106.49% decrease from a year earlier, with the FY2026 full-year figure at 26.02, down 106.49% from the prior year.
- EV to EBITDA was 43.89 for Q2 2026 at Iren, up from 90.71 in the prior quarter.
- Over five years, EV to EBITDA peaked at 117.49 in Q1 2022 and troughed at 334.31 in Q3 2025.
- A 5-year average of 68.85 and a median of 37.05 in 2023 frame the typical range for EV to EBITDA.
- Across the five-year window, EV to EBITDA sank 18324.35% in 2023 and soared 143.43% in 2025, its largest moves.
- Over 5 years, EV to EBITDA stood at 0.2 in 2022, then slumped by 18324.35% to 37.05 in 2023, then sank by 557.26% to 243.49 in 2024, then rose by 23.01% to 187.45 in 2025, then surged by 76.58% to 43.89 in 2026.
- The last three EV to EBITDA figures came in at 43.89 (Q2 2026), 90.71 (Q1 2026), and 187.45 (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Bitmine Immersion Technologies | 56.87 Bn | 56.53 Bn | 40.81 Mn |
| 2 | Iren | 34.00 Bn | 26.43 Bn | 103.89 Mn |
| 3 | Hut 8 | 11.52 Bn | 5.04 Bn | 48.04 Mn |
| 4 | Riot Platforms | 8.24 Bn | 7.69 Bn | 84.97 Mn |
| 5 | Argo Blockchain | 6.43 Bn | 6.43 Bn | - |
| 6 | MARA Holdings | 4.32 Bn | 3.96 Bn | - |
| 7 | Cleanspark | 3.26 Bn | 3.05 Bn | - |
| 8 | Bitdeer Technologies | 2.92 Bn | 2.46 Bn | -8.53 Mn |
| 9 | Keel Infrastructure | 2.14 Bn | 2.13 Bn | -86.75 Mn |
| 10 | HIVE Digital Technologies | 853.00 Mn | 613.97 Mn | -29.49 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -43.89 |
| Mar 31, 2026 | -90.71 |
| Dec 31, 2025 | -187.45 |
| Sep 30, 2025 | -334.31 |
| Jun 30, 2025 | 51.28 |
| Mar 31, 2025 | -162.31 |
| Dec 31, 2024 | -243.49 |
| Sep 30, 2024 | -57.44 |
| Jun 30, 2024 | -118.09 |
| Mar 31, 2024 | -33.70 |
| Dec 31, 2023 | -37.05 |
| Sep 30, 2023 | -11.71 |
| Jun 30, 2023 | -10.25 |
| Mar 31, 2023 | -13.06 |
| Dec 31, 2022 | -0.20 |
| Jun 30, 2022 | 4.43 |
| Mar 31, 2022 | 117.49 |
| Dec 31, 2021 | 44.24 |