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Side-by-side financial comparison of BALCHEM CORP (BCPC) and IREN Ltd (IREN). Click either name above to swap in a different company.
BALCHEM CORP is the larger business by last-quarter revenue ($270.7M vs $184.7M, roughly 1.5× IREN Ltd). BALCHEM CORP runs the higher net margin — 14.9% vs -84.1%, a 99.0% gap on every dollar of revenue. On growth, IREN Ltd posted the faster year-over-year revenue change (59.0% vs 8.1%). BALCHEM CORP produced more free cash flow last quarter ($33.8M vs $-468.0M).
Balchem Corp is a global specialty chemicals and nutritional ingredients provider that develops, manufactures and distributes application-specific products for human nutrition, animal health, pharmaceutical and industrial end markets, serving customers across North America, Europe and Asia Pacific.
IREN Ltd. is a vertically integrated data center business powering the future of Bitcoin, AI and beyond with renewable energy. It is strategically located in renewable-rich, fiber-connected regions across the US and Canada.
BCPC vs IREN — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $270.7M | $184.7M |
| Net Profit | $40.3M | $-155.4M |
| Gross Margin | — | 64.4% |
| Operating Margin | 20.5% | -63.0% |
| Net Margin | 14.9% | -84.1% |
| Revenue YoY | 8.1% | 59.0% |
| Net Profit YoY | 8.7% | -610.0% |
| EPS (diluted) | $1.25 | $-0.52 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $270.7M | — | ||
| Q4 25 | $263.6M | $184.7M | ||
| Q3 25 | $267.6M | $240.3M | ||
| Q2 25 | $255.5M | — | ||
| Q1 25 | $250.5M | — | ||
| Q4 24 | $240.0M | $116.1M | ||
| Q3 24 | $239.9M | $52.8M | ||
| Q2 24 | $234.1M | — |
| Q1 26 | $40.3M | — | ||
| Q4 25 | $39.2M | $-155.4M | ||
| Q3 25 | $40.3M | $384.6M | ||
| Q2 25 | $38.3M | — | ||
| Q1 25 | $37.1M | — | ||
| Q4 24 | $33.6M | $-21.9M | ||
| Q3 24 | $33.8M | $-51.7M | ||
| Q2 24 | $32.1M | — |
| Q1 26 | — | — | ||
| Q4 25 | 35.6% | 64.4% | ||
| Q3 25 | 35.7% | 66.4% | ||
| Q2 25 | 36.4% | — | ||
| Q1 25 | 35.2% | — | ||
| Q4 24 | 36.0% | 72.2% | ||
| Q3 24 | 35.6% | 39.6% | ||
| Q2 24 | 35.5% | — |
| Q1 26 | 20.5% | — | ||
| Q4 25 | 19.8% | -63.0% | ||
| Q3 25 | 20.4% | -31.8% | ||
| Q2 25 | 20.1% | — | ||
| Q1 25 | 20.4% | — | ||
| Q4 24 | 19.8% | 14.9% | ||
| Q3 24 | 20.0% | -89.2% | ||
| Q2 24 | 19.6% | — |
| Q1 26 | 14.9% | — | ||
| Q4 25 | 14.9% | -84.1% | ||
| Q3 25 | 15.1% | 160.1% | ||
| Q2 25 | 15.0% | — | ||
| Q1 25 | 14.8% | — | ||
| Q4 24 | 14.0% | -18.8% | ||
| Q3 24 | 14.1% | -98.0% | ||
| Q2 24 | 13.7% | — |
| Q1 26 | $1.25 | — | ||
| Q4 25 | $1.21 | $-0.52 | ||
| Q3 25 | $1.24 | $1.08 | ||
| Q2 25 | $1.17 | — | ||
| Q1 25 | $1.13 | — | ||
| Q4 24 | $1.03 | $-0.10 | ||
| Q3 24 | $1.03 | $-0.27 | ||
| Q2 24 | $0.98 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $72.9M | $3.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.3B | $2.5B |
| Total Assets | $1.7B | $7.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $72.9M | — | ||
| Q4 25 | $74.6M | $3.3B | ||
| Q3 25 | $65.1M | $1.0B | ||
| Q2 25 | $65.4M | — | ||
| Q1 25 | $49.9M | — | ||
| Q4 24 | $49.5M | $427.3M | ||
| Q3 24 | $73.7M | $98.6M | ||
| Q2 24 | $63.7M | — |
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $2.5B | ||
| Q3 25 | $1.3B | $2.9B | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.1B | $1.2B | ||
| Q3 24 | $1.2B | $1.1B | ||
| Q2 24 | $1.1B | — |
| Q1 26 | $1.7B | — | ||
| Q4 25 | $1.7B | $7.0B | ||
| Q3 25 | $1.7B | $4.3B | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $1.6B | $1.9B | ||
| Q3 24 | $1.6B | $1.3B | ||
| Q2 24 | $1.6B | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $40.1M | $71.7M |
| Free Cash FlowOCF − Capex | $33.8M | $-468.0M |
| FCF MarginFCF / Revenue | 12.5% | -253.4% |
| Capex IntensityCapex / Revenue | 2.3% | 292.2% |
| Cash ConversionOCF / Net Profit | 0.99× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-701.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $40.1M | — | ||
| Q4 25 | $67.3M | $71.7M | ||
| Q3 25 | $65.6M | $142.4M | ||
| Q2 25 | $47.3M | — | ||
| Q1 25 | $36.5M | — | ||
| Q4 24 | $52.3M | $53.6M | ||
| Q3 24 | $51.3M | $-3.9M | ||
| Q2 24 | $45.0M | — |
| Q1 26 | $33.8M | — | ||
| Q4 25 | — | $-468.0M | ||
| Q3 25 | — | $-38.0M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $-85.5M | ||
| Q3 24 | — | $-109.7M | ||
| Q2 24 | — | — |
| Q1 26 | 12.5% | — | ||
| Q4 25 | — | -253.4% | ||
| Q3 25 | — | -15.8% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -73.6% | ||
| Q3 24 | — | -208.0% | ||
| Q2 24 | — | — |
| Q1 26 | 2.3% | — | ||
| Q4 25 | — | 292.2% | ||
| Q3 25 | — | 75.0% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 119.7% | ||
| Q3 24 | — | 200.6% | ||
| Q2 24 | — | — |
| Q1 26 | 0.99× | — | ||
| Q4 25 | 1.72× | — | ||
| Q3 25 | 1.63× | 0.37× | ||
| Q2 25 | 1.23× | — | ||
| Q1 25 | 0.98× | — | ||
| Q4 24 | 1.56× | — | ||
| Q3 24 | 1.52× | — | ||
| Q2 24 | 1.40× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BCPC
Segment breakdown not available.
IREN
| Bitcoin Mining Revenue | $167.4M | 91% |
| AI Cloud Services | $17.3M | 9% |
