IREN vs Riot Platforms
IREN and Riot Platforms are similar in size: $707m and $647m of revenue in their latest fiscal years. Riot Platforms grew faster (71.9% against 41.1%). IREN kept more of each dollar of sales as profit: a net margin of -99.4% against -102.4%.
| Latest fiscal year | IRENIREN, 2026 | Riot PlatformsRIOT, 2025 |
|---|---|---|
| Revenue | $707m | $647m |
| Revenue growth | 41.1% | 71.9% |
| Net income | −$703m | −$663m |
| Operating margin | -148.0% | — |
| Net margin | -99.4% | -102.4% |
| Return on equity | -23.4% | -22.1% |
| Free cash flow | −$898m | −$774m |
| Cash | $5.90bn | $234m |
| Total debt | $7.71bn | $854m |
| Debt to equity | 184.1% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | $4.3m |
| Employees | 685 | 816 |
| Market value | $6.60bn | $5.18bn |
| Price vs our value range | — | — |
| Moat score | — | 8 (Weak) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 9 sales |