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Side-by-side financial comparison of ESCO TECHNOLOGIES INC (ESE) and IREN Ltd (IREN). Click either name above to swap in a different company.
ESCO TECHNOLOGIES INC is the larger business by last-quarter revenue ($289.7M vs $184.7M, roughly 1.6× IREN Ltd). ESCO TECHNOLOGIES INC runs the higher net margin — 9.9% vs -84.1%, a 94.0% gap on every dollar of revenue. On growth, IREN Ltd posted the faster year-over-year revenue change (59.0% vs 17.3%). ESCO TECHNOLOGIES INC produced more free cash flow last quarter ($63.0M vs $-468.0M).
Esco is a Singaporean brand that develops, manufactures, and sells products and services for laboratories.
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.
ESE vs IREN — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $289.7M | $184.7M |
| Net Profit | $28.7M | $-155.4M |
| Gross Margin | 41.4% | 64.4% |
| Operating Margin | 13.2% | -63.0% |
| Net Margin | 9.9% | -84.1% |
| Revenue YoY | 17.3% | 59.0% |
| Net Profit YoY | 22.2% | -610.0% |
| EPS (diluted) | $1.11 | $-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.
| Q4 25 | $289.7M | $184.7M | ||
| Q3 25 | $286.5M | $240.3M | ||
| Q2 25 | $296.3M | — | ||
| Q1 25 | $265.5M | — | ||
| Q4 24 | $247.0M | $116.1M | ||
| Q3 24 | $298.5M | $52.8M | ||
| Q2 24 | $260.8M | — | ||
| Q1 24 | $249.1M | $54.3M |
| Q4 25 | $28.7M | $-155.4M | ||
| Q3 25 | $218.7M | $384.6M | ||
| Q2 25 | $26.1M | — | ||
| Q1 25 | $31.0M | — | ||
| Q4 24 | $23.5M | $-21.9M | ||
| Q3 24 | $34.3M | $-51.7M | ||
| Q2 24 | $29.2M | — | ||
| Q1 24 | $23.2M | $8.6M |
| Q4 25 | 41.4% | 64.4% | ||
| Q3 25 | 45.9% | 66.4% | ||
| Q2 25 | 41.2% | — | ||
| Q1 25 | 41.1% | — | ||
| Q4 24 | 39.8% | 72.2% | ||
| Q3 24 | 40.1% | 39.6% | ||
| Q2 24 | 39.6% | — | ||
| Q1 24 | 38.8% | — |
| Q4 25 | 13.2% | -63.0% | ||
| Q3 25 | 17.2% | -31.8% | ||
| Q2 25 | 11.2% | — | ||
| Q1 25 | 15.3% | — | ||
| Q4 24 | 11.4% | 14.9% | ||
| Q3 24 | 14.8% | -89.2% | ||
| Q2 24 | 14.3% | — | ||
| Q1 24 | 11.7% | 11.1% |
| Q4 25 | 9.9% | -84.1% | ||
| Q3 25 | 76.3% | 160.1% | ||
| Q2 25 | 8.8% | — | ||
| Q1 25 | 11.7% | — | ||
| Q4 24 | 9.5% | -18.8% | ||
| Q3 24 | 11.5% | -98.0% | ||
| Q2 24 | 11.2% | — | ||
| Q1 24 | 9.3% | 15.9% |
| Q4 25 | $1.11 | $-0.52 | ||
| Q3 25 | $8.43 | $1.08 | ||
| Q2 25 | $1.01 | — | ||
| Q1 25 | $1.20 | — | ||
| Q4 24 | $0.91 | $-0.10 | ||
| Q3 24 | $1.32 | $-0.27 | ||
| Q2 24 | $1.13 | — | ||
| Q1 24 | $0.90 | $0.00 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $103.8M | $3.3B |
| Total DebtLower is stronger | $145.5M | — |
| Stockholders' EquityBook value | $1.6B | $2.5B |
| Total Assets | $2.4B | $7.0B |
| Debt / EquityLower = less leverage | 0.09× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $103.8M | $3.3B | ||
| Q3 25 | $101.3M | $1.0B | ||
| Q2 25 | $78.7M | — | ||
| Q1 25 | $57.4M | — | ||
| Q4 24 | $71.3M | $427.3M | ||
| Q3 24 | $66.0M | $98.6M | ||
| Q2 24 | $63.0M | — | ||
| Q1 24 | $59.4M | $259.7M |
| Q4 25 | $145.5M | — | ||
| Q3 25 | $186.0M | — | ||
| Q2 25 | $525.0M | — | ||
| Q1 25 | $88.0M | — | ||
| Q4 24 | $112.0M | — | ||
| Q3 24 | $122.0M | — | ||
| Q2 24 | $173.0M | — | ||
| Q1 24 | $191.0M | — |
| Q4 25 | $1.6B | $2.5B | ||
| Q3 25 | $1.5B | $2.9B | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.2B | $1.2B | ||
| Q3 24 | $1.2B | $1.1B | ||
| Q2 24 | $1.2B | — | ||
| Q1 24 | $1.2B | $677.2M |
| Q4 25 | $2.4B | $7.0B | ||
| Q3 25 | $2.4B | $4.3B | ||
| Q2 25 | $2.5B | — | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $1.8B | $1.9B | ||
| Q3 24 | $1.8B | $1.3B | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | $1.8B | $723.6M |
| Q4 25 | 0.09× | — | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | 0.40× | — | ||
| Q1 25 | 0.07× | — | ||
| Q4 24 | 0.09× | — | ||
| Q3 24 | 0.10× | — | ||
| Q2 24 | 0.14× | — | ||
| Q1 24 | 0.16× | — |
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 | $68.9M | $71.7M |
| Free Cash FlowOCF − Capex | $63.0M | $-468.0M |
| FCF MarginFCF / Revenue | 21.7% | -253.4% |
| Capex IntensityCapex / Revenue | 2.0% | 292.2% |
| Cash ConversionOCF / Net Profit | 2.40× | — |
| TTM Free Cash FlowTrailing 4 quarters | $239.6M | $-701.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $68.9M | $71.7M | ||
| Q3 25 | $109.9M | $142.4M | ||
| Q2 25 | $73.7M | — | ||
| Q1 25 | $24.1M | — | ||
| Q4 24 | $34.2M | $53.6M | ||
| Q3 24 | $72.1M | $-3.9M | ||
| Q2 24 | $36.2M | — | ||
| Q1 24 | $10.5M | $-27.1M |
| Q4 25 | $63.0M | $-468.0M | ||
| Q3 25 | $97.8M | $-38.0M | ||
| Q2 25 | $64.9M | — | ||
| Q1 25 | $14.0M | — | ||
| Q4 24 | $29.0M | $-85.5M | ||
| Q3 24 | $60.9M | $-109.7M | ||
| Q2 24 | $27.6M | — | ||
| Q1 24 | $2.0M | $-108.3M |
| Q4 25 | 21.7% | -253.4% | ||
| Q3 25 | 34.1% | -15.8% | ||
| Q2 25 | 21.9% | — | ||
| Q1 25 | 5.3% | — | ||
| Q4 24 | 11.7% | -73.6% | ||
| Q3 24 | 20.4% | -208.0% | ||
| Q2 24 | 10.6% | — | ||
| Q1 24 | 0.8% | -199.4% |
| Q4 25 | 2.0% | 292.2% | ||
| Q3 25 | 4.2% | 75.0% | ||
| Q2 25 | 3.0% | — | ||
| Q1 25 | 3.8% | — | ||
| Q4 24 | 2.1% | 119.7% | ||
| Q3 24 | 3.8% | 200.6% | ||
| Q2 24 | 3.3% | — | ||
| Q1 24 | 3.4% | 149.5% |
| Q4 25 | 2.40× | — | ||
| Q3 25 | 0.50× | 0.37× | ||
| Q2 25 | 2.83× | — | ||
| Q1 25 | 0.78× | — | ||
| Q4 24 | 1.46× | — | ||
| Q3 24 | 2.10× | — | ||
| Q2 24 | 1.24× | — | ||
| Q1 24 | 0.45× | -3.13× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ESE
| US Government | $98.0M | 34% |
| Utility Solutions Group | $87.5M | 30% |
| RF Shielding And Test | $58.3M | 20% |
| Commercial | $45.8M | 16% |
| Related Party | $1.3M | 0% |
IREN
| Bitcoin Mining Revenue | $167.4M | 91% |
| AI Cloud Services | $17.3M | 9% |
