Market Pulse44Neutral

IREN LimitedOpportunity Rank #11(IREN) Intrinsic Value & DCF Analysis (2026)

Current Price

$56.87

Last updated: Jun 23, 2026

Price vs Intrinsic Value

$56.87
Price
$153.80
Intrinsic Value
Undervalued by 170%MOS: $123.04

Fundamental Score

70/100
Bullish

Weighted across 6 signals

Narrative Score

69/100
Improving

-2 vs previous

Trend Score

75/100
Strong

As of 2026-06-22

The intrinsic value of IREN Limited (IREN) is estimated at $153.80 per share based on a 10-year discounted cash flow (DCF) analysis. At the current price of $56.87, the stock appears undervalued relative to its projected cash flow fundamentals. This estimate assumes an 11.27% long-term growth rate and a 10.92% discount rate, reflecting expected future free cash flow and cost of capital.

The intrinsic value of IREN Limited (IREN) is estimated at $153.80 per share based on a 10-year discounted cash flow (DCF) analysis. At the current price of $56.87, the stock appears undervalued relative to its projected cash flow fundamentals. This estimate assumes an 11.27% long-term growth rate and a 10.92% discount rate, reflecting expected future free cash flow and cost of capital.

Valuation Details

$153.80
▲ 170.44% upside
20% margin of safety: $123.04
Years: 10Growth Rate: 11.27%
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Capital Efficiency

Average Quarterly ROIC
0.7%
Cost of Capital (estimated)9%
Value StatusUnderperforming Capital

The company is earning below its required return. This may indicate inefficient use of capital or excess cash that isn't being reinvested.

Complete historical ROIC is available with
.

Fundamental Details

70/100
BullishWeighted across 6 signals
DCF Discount
170.4% discount to price
100
FCF Yield
8.7% trailing FCF yield
100
ROIC vs WACC
ROIC 0.7% vs WACC 9.0% (0.1x)
4
Net Debt / FCF
0.6x net debt to FCF
88
Buybacks
Share count flat
50
FCF CAGR (5Y)
249.9% 5Y FCF CAGR
100
Strengths: DCF Discount, FCF Yield. Concerns: ROIC vs WACC.

Narrative Details

69/100
Improving
-2 vs previous · +1 new driversVs 6-Month Baseline:Average (60th pct)Weighted across 6 recent drivers
Trend: Improving upConfidence: 87%Updated: 4h ago
Sources: 121 (111 News · 10 Analyst)
Drivers(last 30 days)
97 news sentiment+1.4
Upgrade headlines+0.5
11 regulatory scrutiny+0.1
Downgrade headlines-0.0
Earnings miss-0.0
10 analyst reiterations0.0

Trend Details

75/100
StrongAs of 2026-06-22308 daily bars used
6M Relative Strength vs SPY+57.5%
3M Relative Strength vs SPY+23.0%
21 EMA vs 50 EMA+6.3%
Price vs 21 EMA37 · -2.1%
Price vs 50 EMA69 · +4.1%
21 EMA vs 50 EMA89 · +6.3%
3M RS vs SPY98 · +23.0%
6M RS vs SPY100 · +57.5%
Distance from 52W High49 · -25.6%

Investment Coach

Updating... 12d ago
BUYConfidence: 69%
Thesis
IREN Limited is significantly undervalued with an estimated fair value 218% above its current price, supported by strong fundamentals and a bullish narrative. Despite trailing returns relative to its cost of capital, the company shows promising free cash flow growth and a supportive narrative trend.
Key Risk
The key risk is the company's return on invested capital (ROIC) remaining below its weighted average cost of capital (WACC), which could undermine value creation.
Signals To Watch
  • Monitor whether valuation discount remains above 10%.
  • Track ROIC versus WACC spread for sustained improvement.
  • Follow narrative trend for meaningful shifts in the score direction.
Ask the Coach - Available with
Historical Growth Rates
Free Cash Flow- - -Trend CAGR: 52.16%5 Year CAGR: 204.04%

Free Cash Flow (in millions)

TTM2025202420232022202120202019
$1,756$1,619$532$122$316$7$3$2

How Intrinziq Estimates Fair Value

Intrinziq estimates IREN Limited's intrinsic value using a discounted cash flow (DCF) model based on free cash flow trends and a market-based discount rate. The model projects future cash flows over ten years and discounts them using a market return assumption to estimate fair value.

IREN LimitedFinancial Services

IREN Limited, established in 2018 and based in Sydney, Australia, operates a comprehensive, vertically integrated data center business spanning Australia and Canada. The company possesses and manages all essential infrastructure, including its computing hardware, electrical systems, and the data center facilities themselves. A primary undertaking for IREN Limited is the mining of Bitcoin, a scarce digital asset created and exchanged via a decentralized, peer-to-peer computer network utilizing specialized Bitcoin software. The company was previously named Iris Energy Limited, officially adopting IREN Limited in November 2024.