Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
IRENIREN +7.36%64 EV-to-EBIT is -31.32 as of Sep. 20, 2026. GuruFocus rates IREN with a GF Score™ of 64/100 and a GF Value™ of $21.26 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 530 Capital Markets companies, IREN ranks worse than 188679.06% on this metric.
EV-to-EBIT is calculated as Enterprise Value divided by its EBIT. As of today, IREN's Enterprise Value is $20,338.6 Mil.
IREN's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 was $-649.4 Mil. Therefore, IREN's EV-to-EBIT for today is -31.32.
The historical rank and industry rank for IREN's EV-to-EBIT or its related term are showing as below:
IREN'
s EV-to-EBIT Range Over the Past 10 Years
Min: -230.41 Med: -0.78 Max: 116.41
Current: -31.32
During the past 7 years, the highest EV-to-EBIT of IREN was 116.41. The lowest was -230.41. And the median was -0.78.
IREN's EV-to-EBIT is ranked worse than 100% of 530
companies
in the Capital Markets industry
Industry Median: 8.895
vs IREN: -31.32
This is a more accurate valuation of companies' operation because it considers the debt and cash on its balance sheet, and non-operating items such as interest payment, tax, and one-time items are not included in the Operating Income.
IREN's Enterprise Value for the quarter that ended in Jun. 2026 was $17,659.9 Mil.
IREN's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-649.4 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
IREN EV-to-EBIT Related Terms
IREN EV-to-EBIT Historical Data
* Premium members only.
The historical data trend for IREN's EV-to-EBIT can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Capital Markets subindustry, IREN's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
IREN EV-to-EBIT vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, IREN's EV-to-EBIT distribution charts can be found below:
* The bar in red indicates where IREN's EV-to-EBIT falls into.
IREN's current Enterprise Value is $20,338.6 Mil.
IREN's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-649.4 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
IREN (IREN) has a EV-to-EBIT of -31.32 as of Sep. 20, 2026. EV to EBIT ratio is the inverse of Joel Greenblatt's earnings yield definition. View historical data on IREN and its competitors. According to the industry distribution chart, IREN ranks #999999 out of 530 companies in the Capital Markets industry.
Is IREN's EV-to-EBIT too high?
IREN's current EV-to-EBIT is -31.32. Based on the distribution chart, IREN ranks #999999 out of 530 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, IREN has a GF Score™ of 64/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does IREN's EV-to-EBIT compare to SF and JEF?
According to the Capital Markets industry distribution chart, IREN ranks #999999 out of 530 companies for EV-to-EBIT. This places IREN in the lower half of its industry. The industry median EV-to-EBIT is 8.90. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-EBIT for a Capital Markets company?
The median EV-to-EBIT among Capital Markets companies is 8.90, based on 530 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBIT significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-EBIT mean?
A high EV-to-EBIT can signal that a stock is expensive relative to its fundamentals. EV to EBIT ratio is the inverse of Joel Greenblatt's earnings yield definition. View historical data on IREN and its competitors. For the Capital Markets industry, the median EV-to-EBIT is 8.90 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. IREN's current EV-to-EBIT is -31.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is IREN stock overvalued right now?
Based on GuruFocus' analysis, IREN (IREN) is currently considered Significantly Overvalued. The stock's GF Value™ is $21.26, compared to a current price of $46.71 — trading 119.7% above its estimated fair value. The current EV-to-EBIT is -31.32. IREN's overall GF Score™ is 64/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBIT calculated?
EV-to-EBIT is calculated from a company's financial statements. For IREN (IREN), the current EV-to-EBIT is -31.32 as of Sep. 20, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is IREN (IREN) Overvalued in 2026?
Based on GuruFocus' analysis, IREN stock appears to be overvalued.
The current stock price of $46.71 is trading 119.7% above its estimated GF Value™ of $21.26.
GuruFocus considers IREN to be Significantly Overvalued.
Key valuation signals for IREN:
EV-to-EBIT: -31.32
GF Value™: $21.26 vs. price of $46.71 (119.7% above fair value)
No single metric tells the full story. See the IREN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
IREN owns data centers powered by renewable energy in Canada and the US for bitcoin mining and AI cloud infrastructure. The company is in the process of converting its existing bitcoin capacity for AI purposes and securing new power and land supply to expand its data center operation. IREN works closely with industry leaders in AI, such as Microsoft, to support their cloud infrastructure ambitions.
64GF Score
Get the complete analysis for IREN
EV-to-EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
IREN has been successfully added to your 
