IREN — Valuation Models

Interactive models with editable assumptions. All calculations run client-side.

Valuation Summary

Model	Intrinsic Value	vs Price ($41.39)
DCF	$-1212.40	-3029.2%
Graham Number	$15.66	-62.2%
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$41.46	+0.2%

Values reflect default assumptions. Adjust inputs in each model below to update.

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$1.25B

Near-term growth (yrs 1–5)(%)Rev: 59.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 21.93%

Computed WACC: 21.93%

Cost of equity (Re)28.07%(Rf 4.30% + β 4.32 × ERP 5.50%)

Cost of debt (Rd)0.00%(no debt / unavailable → 0%)

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)78.14%

Debt weight (D/V)21.86%

Results

Intrinsic Value / share$-233.18

Current Price$41.39

Upside / Downside-663.4%

Net Debt (used)$581.96M

Sensitivity: WACC (rows) × Near-term g (cols)

WACC \ Near-term	51.0%	55.0%	59.0%	63.0%	67.0%
7.0%	$-1501.98	$-1709.20	$-1938.80	$-2192.56	$-2472.34
8.0%	$-1168.12	$-1328.76	$-1506.73	$-1703.39	$-1920.19
9.0%	$-940.67	$-1069.59	$-1212.40	$-1370.18	$-1544.09
10.0%	$-776.79	$-882.87	$-1000.36	$-1130.14	$-1273.18
11.0%	$-653.83	$-742.79	$-841.29	$-950.09	$-1069.97

2 — Graham Number

Assumptions

MultiplierGraham used 22.5 (15× P/E × 1.5× P/B)

EPS (trailing)($)Yahoo: $1.44

Book Value / share($)Yahoo: $7.57

Results

Graham Number$15.66

Current Price$41.39

Margin of Safety-62.2%

Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 21.93%

Terminal growth rate(%)

Computed WACC: 21.93%

Cost of equity (Re)28.07%(Rf 4.30% + β 4.32 × ERP 5.50%)

Cost of debt (Rd)0.00%(no debt / unavailable → 0%)

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)78.14%

Debt weight (D/V)21.86%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$41.39

Implied Near-term FCF Growth—

Historical Revenue Growth59.0%

Historical Earnings Growth—

Base FCF (TTM)-$1.25B

Implied growth is the FCF growth rate (yrs 1–5) that makes the DCF intrinsic value equal the current price. Long-term growth is set to half the implied near-term rate.

4 — Dividend Discount Model (DDM)

Assumptions

Annual dividend D0($/share)Yahoo: —

Dividend growth rate (g)(%)

Required return (r)(%)

Results

This company does not pay a dividend. DDM is not applicable — the intrinsic value shown uses D0 = $0 unless you enter a hypothetical dividend above.

DDM Intrinsic Value / share—

Current Price$41.39

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $194.25M

Target EV/EBITDA multipleCurrent: 73.8×

Net Debt($B)Default: $581.96M

Results

Implied Equity Value / share$41.46

Current Price$41.39

Upside / Downside+0.2%

Implied EV$14.34B

Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)

Mult \ Net Debt	-$1.42B	-$418.04M	$581.96M	$1.58B	$2.58B
69.8x	$45.14	$42.13	$39.11	$36.10	$33.08
71.8x	$46.31	$43.30	$40.28	$37.27	$34.26
73.8x	$47.48	$44.47	$41.46	$38.44	$35.43
75.8x	$48.65	$45.64	$42.63	$39.61	$36.60
77.8x	$49.83	$46.81	$43.80	$40.78	$37.77

← Overview Financial Statements ← Companies