IREN

Value Q1, 25Q2, 25Q3, 25Q4, 25 Current Total common shares outstanding 283.47 M332.28 M357.38 M394.06 M 394.06 M Enterprise value 13.23 B13.04 B13.85 B— — Price to earnings ratio ——122.49-20.6 -17.09 Price to sales ratio ——13.4120.45 16.96 Price to cash flow ratio ——25.946.88 5.71 Price to book ratio ——1.053.45 2.87 Enterprise value to EBITDA ratio ———— — Return on assets % 0.09-0.02-0.03-0.04 -0.04 Return on equity % 0.13-0.06-0.09-0.16 -0.16 Return on invested capital % -6.39-6.17-20.75-36.8 -36.8 Gross margin % 66.4364.3972.4275.71 75.71 Operating margin % -31.8-63.03-161.28-452.09 -452.09 EBITDA margin % 58.730.2616.46-250.77 -250.77 Net margin % 160.06-84.14-171.16-498.45 -498.45 Quick ratio ———— — Current ratio 5.524.963.723.55 3.55 Inventory turnover ———— — Asset turnover 0.060.030.020.01 0.01 Debt to assets ratio 0.230.530.520.49 0.49 Debt to equity ratio 0.341.491.431.84 1.84 Long term debt to total assets ratio 0.230.520.510.48 0.48 Long term debt to total equity ratio 0.341.471.381.81 1.81 Operating cash flow per share 0.390.240.235.73 6.64 EBIT per share 0.15-0.33-0.29-1.44 -1.6 EBITDA per share 0.3900.07-1.09 -0.27 Total debt per share 2.6712.5711.4224.42 24.42 Cash per share 2.8510.946.6318.65 18.65 Net current asset value per share 3.1111.357.2624.95 24.95 Tangible book value per share 7.958.077.6612.12 12.12 Working capital per share 2.549.065.3117.92 17.92 Book value per share 7.958.437.9813.24 13.24