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Side-by-side financial comparison of GLOBAL INDUSTRIAL Co (GIC) and IREN Ltd (IREN). Click either name above to swap in a different company.
GLOBAL INDUSTRIAL Co is the larger business by last-quarter revenue ($345.6M vs $184.7M, roughly 1.9× IREN Ltd). GLOBAL INDUSTRIAL Co runs the higher net margin — 4.2% vs -84.1%, a 88.4% gap on every dollar of revenue. On growth, IREN Ltd posted the faster year-over-year revenue change (59.0% vs 14.3%). GLOBAL INDUSTRIAL Co produced more free cash flow last quarter ($19.2M vs $-468.0M).
Global Industrial Company is a Port Washington, New York–based company providing industrial and MRO products through a system of branded e-Commerce websites and relationship marketers in North America. The primary brand is Global Industrial.
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.
GIC vs IREN — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $345.6M | $184.7M |
| Net Profit | $14.6M | $-155.4M |
| Gross Margin | 34.5% | 64.4% |
| Operating Margin | 5.7% | -63.0% |
| Net Margin | 4.2% | -84.1% |
| Revenue YoY | 14.3% | 59.0% |
| Net Profit YoY | 36.4% | -610.0% |
| EPS (diluted) | $0.37 | $-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 | $345.6M | $184.7M | ||
| Q3 25 | $353.6M | $240.3M | ||
| Q2 25 | $358.9M | — | ||
| Q1 25 | $321.0M | — | ||
| Q4 24 | $302.3M | $116.1M | ||
| Q3 24 | $342.4M | $52.8M | ||
| Q2 24 | $347.8M | — | ||
| Q1 24 | $323.4M | $54.3M |
| Q4 25 | $14.6M | $-155.4M | ||
| Q3 25 | $18.8M | $384.6M | ||
| Q2 25 | $25.1M | — | ||
| Q1 25 | $13.6M | — | ||
| Q4 24 | $10.7M | $-21.9M | ||
| Q3 24 | $16.8M | $-51.7M | ||
| Q2 24 | $20.3M | — | ||
| Q1 24 | $13.2M | $8.6M |
| Q4 25 | 34.5% | 64.4% | ||
| Q3 25 | 35.6% | 66.4% | ||
| Q2 25 | 37.1% | — | ||
| Q1 25 | 34.9% | — | ||
| Q4 24 | 33.8% | 72.2% | ||
| Q3 24 | 34.0% | 39.6% | ||
| Q2 24 | 35.2% | — | ||
| Q1 24 | 34.3% | — |
| Q4 25 | 5.7% | -63.0% | ||
| Q3 25 | 7.4% | -31.8% | ||
| Q2 25 | 9.3% | — | ||
| Q1 25 | 5.7% | — | ||
| Q4 24 | 4.8% | 14.9% | ||
| Q3 24 | 6.5% | -89.2% | ||
| Q2 24 | 7.6% | — | ||
| Q1 24 | 5.4% | 11.1% |
| Q4 25 | 4.2% | -84.1% | ||
| Q3 25 | 5.3% | 160.1% | ||
| Q2 25 | 7.0% | — | ||
| Q1 25 | 4.2% | — | ||
| Q4 24 | 3.5% | -18.8% | ||
| Q3 24 | 4.9% | -98.0% | ||
| Q2 24 | 5.8% | — | ||
| Q1 24 | 4.1% | 15.9% |
| Q4 25 | $0.37 | $-0.52 | ||
| Q3 25 | $0.48 | $1.08 | ||
| Q2 25 | $0.65 | — | ||
| Q1 25 | $0.35 | — | ||
| Q4 24 | $0.28 | $-0.10 | ||
| Q3 24 | $0.44 | $-0.27 | ||
| Q2 24 | $0.52 | — | ||
| Q1 24 | $0.34 | $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 | $67.5M | $3.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $313.2M | $2.5B |
| Total Assets | $580.8M | $7.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $67.5M | $3.3B | ||
| Q3 25 | $67.2M | $1.0B | ||
| Q2 25 | $55.1M | — | ||
| Q1 25 | $39.0M | — | ||
| Q4 24 | $44.6M | $427.3M | ||
| Q3 24 | $38.9M | $98.6M | ||
| Q2 24 | $38.8M | — | ||
| Q1 24 | $29.9M | $259.7M |
| Q4 25 | $313.2M | $2.5B | ||
| Q3 25 | $316.0M | $2.9B | ||
| Q2 25 | $305.2M | — | ||
| Q1 25 | $287.9M | — | ||
| Q4 24 | $281.1M | $1.2B | ||
| Q3 24 | $279.2M | $1.1B | ||
| Q2 24 | $270.4M | — | ||
| Q1 24 | $260.2M | $677.2M |
| Q4 25 | $580.8M | $7.0B | ||
| Q3 25 | $602.5M | $4.3B | ||
| Q2 25 | $586.5M | — | ||
| Q1 25 | $536.7M | — | ||
| Q4 24 | $520.7M | $1.9B | ||
| Q3 24 | $531.6M | $1.3B | ||
| Q2 24 | $542.5M | — | ||
| Q1 24 | $517.4M | $723.6M |
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 | $20.0M | $71.7M |
| Free Cash FlowOCF − Capex | $19.2M | $-468.0M |
| FCF MarginFCF / Revenue | 5.6% | -253.4% |
| Capex IntensityCapex / Revenue | 0.2% | 292.2% |
| Cash ConversionOCF / Net Profit | 1.37× | — |
| TTM Free Cash FlowTrailing 4 quarters | $74.7M | $-701.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.0M | $71.7M | ||
| Q3 25 | $22.7M | $142.4M | ||
| Q2 25 | $31.7M | — | ||
| Q1 25 | $3.4M | — | ||
| Q4 24 | $15.9M | $53.6M | ||
| Q3 24 | $9.6M | $-3.9M | ||
| Q2 24 | $18.8M | — | ||
| Q1 24 | $6.4M | $-27.1M |
| Q4 25 | $19.2M | $-468.0M | ||
| Q3 25 | $22.0M | $-38.0M | ||
| Q2 25 | $30.3M | — | ||
| Q1 25 | $3.2M | — | ||
| Q4 24 | $15.2M | $-85.5M | ||
| Q3 24 | $8.7M | $-109.7M | ||
| Q2 24 | $17.9M | — | ||
| Q1 24 | $5.1M | $-108.3M |
| Q4 25 | 5.6% | -253.4% | ||
| Q3 25 | 6.2% | -15.8% | ||
| Q2 25 | 8.4% | — | ||
| Q1 25 | 1.0% | — | ||
| Q4 24 | 5.0% | -73.6% | ||
| Q3 24 | 2.5% | -208.0% | ||
| Q2 24 | 5.1% | — | ||
| Q1 24 | 1.6% | -199.4% |
| Q4 25 | 0.2% | 292.2% | ||
| Q3 25 | 0.2% | 75.0% | ||
| Q2 25 | 0.4% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 0.2% | 119.7% | ||
| Q3 24 | 0.3% | 200.6% | ||
| Q2 24 | 0.3% | — | ||
| Q1 24 | 0.4% | 149.5% |
| Q4 25 | 1.37× | — | ||
| Q3 25 | 1.21× | 0.37× | ||
| Q2 25 | 1.26× | — | ||
| Q1 25 | 0.25× | — | ||
| Q4 24 | 1.49× | — | ||
| Q3 24 | 0.57× | — | ||
| Q2 24 | 0.93× | — | ||
| Q1 24 | 0.48× | -3.13× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GIC
Segment breakdown not available.
IREN
| Bitcoin Mining Revenue | $167.4M | 91% |
| AI Cloud Services | $17.3M | 9% |
