Iren (IREN) Operating Margin (2021 - 2026)
Iren's Operating Margin was -452.09% in fiscal Q4 2026 (quarter ended Jun 30, 2026), down 461.64 percentage points from 9.55% a year earlier and down 290.81 percentage points from the prior quarter.
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Analysis
Iren (IREN) Operating Margin (2021 - 2026) Analysis & Trends
For FY2026 (ended Jun 30, 2026), Operating Margin at Iren came in at -148.05%, down 151.51 percentage points from FY2025.
- Operating Margin shows a five-year change of -141.41 percentage points (FY2021 to FY2026).
- In earlier fiscal years, Operating Margin was 3.46% in FY2025 (+18.01 pp), -14.55% in FY2024 (+193.69 pp), -208.24% in FY2023 (-208.76 pp) and 0.52% in FY2022 (+7.15 pp).
- The fiscal Q4 2026 figure marks the lowest quarterly Operating Margin since fiscal Q2 2023.
- Compared with a year earlier, Operating Margin has declined for three straight quarters, with an average year-over-year change of -81.43 percentage points over the last eight quarters.
- The best year-over-year quarter for Operating Margin over five years was fiscal Q2 2024 (a gain of 925.63 percentage points); the worst was fiscal Q2 2023 (a drop of 958.51 percentage points).
- Per Business Quant data, IREN's Operating Margin in the three fiscal quarters before Q4 2026 was -161.28% (Q3 2026), -63.03% (Q2 2026) and -31.80% (Q1 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 48.27 Bn | 5.08 Bn | - | -9.30% |
| 2 | PayPal Holdings | 45.51 Bn | 3.74 Bn | - | 16.44% |
| 3 | Block | 44.67 Bn | 15.93 Bn | 3.17 Bn | 6.75% |
| 4 | Iren | 31.78 Bn | 19.37 Bn | 103.89 Mn | -452.09% |
| 5 | Corpay | 25.91 Bn | 16.11 Bn | - | 35.28% |
| 6 | Fiserv | 23.59 Bn | 20.29 Bn | 2.90 Bn | 19.18% |
| 7 | Global Payments | 20.83 Bn | -735.18 Mn | 2.03 Bn | 10.15% |
| 8 | Bitmine Immersion Technologies | 15.23 Bn | 12.61 Bn | 40.81 Mn | -25.50% |
| 9 | Guidewire Software | 12.47 Bn | 9.03 Bn | 269.68 Mn | 15.16% |
| 10 | Hut 8 | 11.04 Bn | 10.88 Bn | 48.04 Mn | -275.36% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -452.09% |
| Mar 31, 2026 | -161.28% |
| Dec 31, 2025 | -63.03% |
| Sep 30, 2025 | -31.80% |
| Jun 30, 2025 | 9.55% |
| Mar 31, 2025 | 20.17% |
| Dec 31, 2024 | 14.90% |
| Sep 30, 2024 | -89.24% |
| Jun 30, 2024 | -41.17% |
| Mar 31, 2024 | 11.28% |
| Dec 31, 2023 | -5.28% |
| Sep 30, 2023 | -21.57% |
| Jun 30, 2023 | -46.81% |
| Mar 31, 2023 | -31.88% |
| Dec 31, 2022 | -930.91% |
| Dec 31, 2021 | 27.60% |
API Access
Iren Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=IREN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "IREN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=IREN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();