vs
Side-by-side financial comparison of HEARTLAND EXPRESS INC (HTLD) and IREN Ltd (IREN). Click either name above to swap in a different company.
IREN Ltd is the larger business by last-quarter revenue ($184.7M vs $179.4M, roughly 1.0× HEARTLAND EXPRESS INC). HEARTLAND EXPRESS INC runs the higher net margin — -10.8% vs -84.1%, a 73.3% gap on every dollar of revenue. On growth, IREN Ltd posted the faster year-over-year revenue change (59.0% vs -26.1%). HEARTLAND EXPRESS INC produced more free cash flow last quarter ($-44.2M vs $-468.0M).
Heartland Express is an American trucking company headquartered in North Liberty, Iowa. The company offers truckload shipping services across the United States.
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.
HTLD vs IREN — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $179.4M | $184.7M |
| Net Profit | $-19.4M | $-155.4M |
| Gross Margin | — | 64.4% |
| Operating Margin | -12.7% | -63.0% |
| Net Margin | -10.8% | -84.1% |
| Revenue YoY | -26.1% | 59.0% |
| Net Profit YoY | -949.2% | -610.0% |
| EPS (diluted) | $-0.24 | $-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 | $179.4M | $184.7M | ||
| Q3 25 | $196.5M | $240.3M | ||
| Q2 25 | $210.4M | — | ||
| Q1 25 | $219.4M | — | ||
| Q4 24 | $242.6M | $116.1M | ||
| Q3 24 | $259.9M | $52.8M | ||
| Q2 24 | $274.8M | — | ||
| Q1 24 | $270.3M | $54.3M |
| Q4 25 | $-19.4M | $-155.4M | ||
| Q3 25 | $-8.3M | $384.6M | ||
| Q2 25 | $-10.9M | — | ||
| Q1 25 | $-13.9M | — | ||
| Q4 24 | $-1.9M | $-21.9M | ||
| Q3 24 | $-9.3M | $-51.7M | ||
| Q2 24 | $-3.5M | — | ||
| Q1 24 | $-15.1M | $8.6M |
| Q4 25 | — | 64.4% | ||
| Q3 25 | — | 66.4% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 72.2% | ||
| Q3 24 | — | 39.6% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -12.7% | -63.0% | ||
| Q3 25 | -3.7% | -31.8% | ||
| Q2 25 | -5.9% | — | ||
| Q1 25 | -6.8% | — | ||
| Q4 24 | 0.4% | 14.9% | ||
| Q3 24 | -2.7% | -89.2% | ||
| Q2 24 | 0.1% | — | ||
| Q1 24 | -5.3% | 11.1% |
| Q4 25 | -10.8% | -84.1% | ||
| Q3 25 | -4.2% | 160.1% | ||
| Q2 25 | -5.2% | — | ||
| Q1 25 | -6.3% | — | ||
| Q4 24 | -0.8% | -18.8% | ||
| Q3 24 | -3.6% | -98.0% | ||
| Q2 24 | -1.3% | — | ||
| Q1 24 | -5.6% | 15.9% |
| Q4 25 | $-0.24 | $-0.52 | ||
| Q3 25 | $-0.11 | $1.08 | ||
| Q2 25 | $-0.14 | — | ||
| Q1 25 | $-0.18 | — | ||
| Q4 24 | $-0.03 | $-0.10 | ||
| Q3 24 | $-0.12 | $-0.27 | ||
| Q2 24 | $-0.04 | — | ||
| Q1 24 | $-0.19 | $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 | $18.5M | $3.3B |
| Total DebtLower is stronger | $154.1M | — |
| Stockholders' EquityBook value | $755.3M | $2.5B |
| Total Assets | $1.2B | $7.0B |
| Debt / EquityLower = less leverage | 0.20× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.5M | $3.3B | ||
| Q3 25 | $32.7M | $1.0B | ||
| Q2 25 | $22.9M | — | ||
| Q1 25 | $23.9M | — | ||
| Q4 24 | $12.8M | $427.3M | ||
| Q3 24 | $30.7M | $98.6M | ||
| Q2 24 | $23.9M | — | ||
| Q1 24 | $23.8M | $259.7M |
| Q4 25 | $154.1M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $187.9M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $755.3M | $2.5B | ||
| Q3 25 | $775.6M | $2.9B | ||
| Q2 25 | $786.7M | — | ||
| Q1 25 | $807.7M | — | ||
| Q4 24 | $822.6M | $1.2B | ||
| Q3 24 | $825.7M | $1.1B | ||
| Q2 24 | $836.8M | — | ||
| Q1 24 | $848.8M | $677.2M |
| Q4 25 | $1.2B | $7.0B | ||
| Q3 25 | $1.3B | $4.3B | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | $1.9B | ||
| Q3 24 | $1.4B | $1.3B | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.5B | $723.6M |
| Q4 25 | 0.20× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.23× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $14.9M | $71.7M |
| Free Cash FlowOCF − Capex | $-44.2M | $-468.0M |
| FCF MarginFCF / Revenue | -24.6% | -253.4% |
| Capex IntensityCapex / Revenue | 33.0% | 292.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-66.9M | $-701.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $14.9M | $71.7M | ||
| Q3 25 | $27.5M | $142.4M | ||
| Q2 25 | $21.0M | — | ||
| Q1 25 | $25.8M | — | ||
| Q4 24 | $37.8M | $53.6M | ||
| Q3 24 | $35.6M | $-3.9M | ||
| Q2 24 | $40.0M | — | ||
| Q1 24 | $31.0M | $-27.1M |
| Q4 25 | $-44.2M | $-468.0M | ||
| Q3 25 | $-12.2M | $-38.0M | ||
| Q2 25 | $-12.8M | — | ||
| Q1 25 | $2.3M | — | ||
| Q4 24 | $-45.5M | $-85.5M | ||
| Q3 24 | $24.6M | $-109.7M | ||
| Q2 24 | $29.4M | — | ||
| Q1 24 | $26.3M | $-108.3M |
| Q4 25 | -24.6% | -253.4% | ||
| Q3 25 | -6.2% | -15.8% | ||
| Q2 25 | -6.1% | — | ||
| Q1 25 | 1.0% | — | ||
| Q4 24 | -18.8% | -73.6% | ||
| Q3 24 | 9.5% | -208.0% | ||
| Q2 24 | 10.7% | — | ||
| Q1 24 | 9.7% | -199.4% |
| Q4 25 | 33.0% | 292.2% | ||
| Q3 25 | 20.2% | 75.0% | ||
| Q2 25 | 16.1% | — | ||
| Q1 25 | 10.7% | — | ||
| Q4 24 | 34.3% | 119.7% | ||
| Q3 24 | 4.2% | 200.6% | ||
| Q2 24 | 3.8% | — | ||
| Q1 24 | 1.7% | 149.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.37× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -3.13× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTLD
Segment breakdown not available.
IREN
| Bitcoin Mining Revenue | $167.4M | 91% |
| AI Cloud Services | $17.3M | 9% |
