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IRENIREN -1.04%67 Piotroski F-Score is 6 as of Jul. 15, 2026, which is at its 10-year median of 6.00. GuruFocus rates IREN with a GF Score™ of 67/100 and a GF Value™ of $12.37 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 785 Capital Markets companies, IREN ranks better than 81.78% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
IREN has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for IREN's Piotroski F-Score or its related term are showing as below:
IREN'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 6 Max: 7
Current: 6
During the past 6 years, the highest Piotroski F-Score of IREN was 7. The lowest was 3. And the median was 6.
IREN (NAS:IREN) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
IREN Piotroski F-Score Related Terms
IREN Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for IREN's Piotroski F-Score 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.
IREN vs CRCL, HUT, TW: Piotroski F-Score Comparison
For the Capital Markets subindustry, IREN's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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 Piotroski F-Score vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, IREN's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where IREN's Piotroski F-Score falls into.
* 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.
This Year (Mar26) TTM:
Last Year (Mar25) TTM:
Net Income was 176.676 + 384.611 + -155.407 + -247.827 = $158.1 Mil. Cash Flow from Operations was 103.141 + 142.353 + 71.651 + 75.322 = $392.5 Mil. Revenue was 187.292 + 240.295 + 184.692 + 144.795 = $757.1 Mil. Gross Profit was 121.79 + 151.258 + 110.376 + 93.57 = $477.0 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(1989.755 + 2940.323 + 4267.374 + 7027.577 + 7264.897) / 5 = $4697.9852 Mil. Total Assets at the begining of this year (Mar25) was $1,989.8 Mil. Long-Term Debt & Capital Lease Obligation was $3,842.2 Mil. Total Current Assets was $2,424.5 Mil. Total Current Liabilities was $651.4 Mil.
Net Income was -27.031 + -51.703 + -21.888 + -16.144 = $-116.8 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
IREN's current Net Income (TTM) was 158.1.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
IREN's current ratio of this year was 3.72221335. IREN's current ratio of last year was 0.46267901.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
IREN's number of shares in issue this year was 333.734. IREN's number of shares in issue last year was 218.66.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
IREN's gross margin of this year was 0.63004937. IREN's gross margin of last year was 0.4244634.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
IREN's asset turnover of this year was 0.38048604. IREN's asset turnover of last year was 0.51206117.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
IREN has an F-score of 6 indicating the company's financial situation is typical for a stable company.
IREN (IREN) has a Piotroski F-Score of 6 as of Jul. 15, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on IREN and its competitors. This is near median its historical median of 6.00. Over the past decade, IREN's Piotroski F-Score has ranged from 3.00 to 7.00. According to the industry distribution chart, IREN ranks #143 out of 785 companies in the Capital Markets industry, placing it in the top 18.2%.
Is IREN's Piotroski F-Score too high?
IREN's current Piotroski F-Score of 6 is near median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 7.00. The Capital Markets industry median Piotroski F-Score is 5.00. IREN's value of 6 is 20% above this industry median. Based on the distribution chart, IREN ranks #143 out of 785 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, IREN has a GF Score™ of 67/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does IREN's Piotroski F-Score compare to CRCL and HUT?
According to the Capital Markets industry distribution chart, IREN ranks #143 out of 785 companies for Piotroski F-Score. This places IREN in the top 18% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. IREN's value of 6 is 20% above this benchmark. Historically, IREN's own Piotroski F-Score has ranged from 3.00 to 7.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, IREN has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Capital Markets company?
The median Piotroski F-Score among Capital Markets companies is 5.00, based on 785 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. IREN's current Piotroski F-Score of 6 is 20% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on IREN and its competitors. For the Capital Markets industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. IREN's current Piotroski F-Score is 6, which is near median its own 10-year median of 6.00. 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 $12.37, compared to a current price of $38.61 — trading 212.1% above its estimated fair value. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 20% above the Capital Markets industry median of 5.00. IREN's overall GF Score™ is 67/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For IREN (IREN), the current Piotroski F-Score is 6 as of Jul. 15, 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 $38.61 is trading 212.1% above its estimated GF Value™ of $12.37.
GuruFocus considers IREN to be Significantly Overvalued.
Key valuation signals for IREN:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: $12.37 vs. price of $38.61 (212.1% above fair value)
Industry Position: 20% above the Capital Markets median (#143 of 785)
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.
67GF Score
Get the complete analysis for IREN
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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