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Side-by-side financial comparison of IREN Ltd (IREN) and NATURES SUNSHINE PRODUCTS INC (NATR). Click either name above to swap in a different company.
IREN Ltd is the larger business by last-quarter revenue ($184.7M vs $123.8M, roughly 1.5× NATURES SUNSHINE PRODUCTS INC). NATURES SUNSHINE PRODUCTS INC runs the higher net margin — 3.3% vs -84.1%, a 87.5% gap on every dollar of revenue. On growth, IREN Ltd posted the faster year-over-year revenue change (59.0% vs 4.7%). NATURES SUNSHINE PRODUCTS INC produced more free cash flow last quarter ($7.6M vs $-468.0M).
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.
Nature's Sunshine Products, Inc. also known as "NSP", is a manufacturer of dietary supplements, including herbs, vitamins, minerals, and personal care products. It is based in Lehi, Utah, with a manufacturing facility in Spanish Fork, Utah.
IREN vs NATR — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $184.7M | $123.8M |
| Net Profit | $-155.4M | $4.1M |
| Gross Margin | 64.4% | 72.5% |
| Operating Margin | -63.0% | 4.3% |
| Net Margin | -84.1% | 3.3% |
| Revenue YoY | 59.0% | 4.7% |
| Net Profit YoY | -610.0% | 1379.4% |
| EPS (diluted) | $-0.52 | $0.23 |
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 | $184.7M | $123.8M | ||
| Q3 25 | $240.3M | $128.3M | ||
| Q2 25 | — | $114.8M | ||
| Q1 25 | — | $113.2M | ||
| Q4 24 | $116.1M | $118.2M | ||
| Q3 24 | $52.8M | $114.6M | ||
| Q2 24 | — | $110.6M | ||
| Q1 24 | $54.3M | $111.0M |
| Q4 25 | $-155.4M | $4.1M | ||
| Q3 25 | $384.6M | $5.3M | ||
| Q2 25 | — | $5.3M | ||
| Q1 25 | — | $4.7M | ||
| Q4 24 | $-21.9M | $-321.0K | ||
| Q3 24 | $-51.7M | $4.3M | ||
| Q2 24 | — | $1.3M | ||
| Q1 24 | $8.6M | $2.3M |
| Q4 25 | 64.4% | 72.5% | ||
| Q3 25 | 66.4% | 73.3% | ||
| Q2 25 | — | 71.7% | ||
| Q1 25 | — | 72.1% | ||
| Q4 24 | 72.2% | 72.0% | ||
| Q3 24 | 39.6% | 71.3% | ||
| Q2 24 | — | 71.4% | ||
| Q1 24 | — | 71.2% |
| Q4 25 | -63.0% | 4.3% | ||
| Q3 25 | -31.8% | 7.0% | ||
| Q2 25 | — | 3.7% | ||
| Q1 25 | — | 5.4% | ||
| Q4 24 | 14.9% | 3.8% | ||
| Q3 24 | -89.2% | 4.6% | ||
| Q2 24 | — | 5.1% | ||
| Q1 24 | 11.1% | 4.2% |
| Q4 25 | -84.1% | 3.3% | ||
| Q3 25 | 160.1% | 4.2% | ||
| Q2 25 | — | 4.6% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | -18.8% | -0.3% | ||
| Q3 24 | -98.0% | 3.8% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | 15.9% | 2.1% |
| Q4 25 | $-0.52 | $0.23 | ||
| Q3 25 | $1.08 | $0.30 | ||
| Q2 25 | — | $0.28 | ||
| Q1 25 | — | $0.25 | ||
| Q4 24 | $-0.10 | $-0.02 | ||
| Q3 24 | $-0.27 | $0.23 | ||
| Q2 24 | — | $0.07 | ||
| Q1 24 | $0.00 | $0.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.3B | $93.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.5B | $161.6M |
| Total Assets | $7.0B | $261.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.3B | $93.9M | ||
| Q3 25 | $1.0B | $95.6M | ||
| Q2 25 | — | $81.3M | ||
| Q1 25 | — | $86.5M | ||
| Q4 24 | $427.3M | $84.7M | ||
| Q3 24 | $98.6M | $78.7M | ||
| Q2 24 | — | $68.7M | ||
| Q1 24 | $259.7M | $77.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $2.1M |
| Q4 25 | $2.5B | $161.6M | ||
| Q3 25 | $2.9B | $166.7M | ||
| Q2 25 | — | $163.7M | ||
| Q1 25 | — | $167.1M | ||
| Q4 24 | $1.2B | $161.0M | ||
| Q3 24 | $1.1B | $162.6M | ||
| Q2 24 | — | $156.4M | ||
| Q1 24 | $677.2M | $159.7M |
| Q4 25 | $7.0B | $261.1M | ||
| Q3 25 | $4.3B | $264.8M | ||
| Q2 25 | — | $254.9M | ||
| Q1 25 | — | $252.7M | ||
| Q4 24 | $1.9B | $240.9M | ||
| Q3 24 | $1.3B | $245.3M | ||
| Q2 24 | — | $235.8M | ||
| Q1 24 | $723.6M | $247.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.01× |
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 | $71.7M | $9.9M |
| Free Cash FlowOCF − Capex | $-468.0M | $7.6M |
| FCF MarginFCF / Revenue | -253.4% | 6.1% |
| Capex IntensityCapex / Revenue | 292.2% | 1.9% |
| Cash ConversionOCF / Net Profit | — | 2.41× |
| TTM Free Cash FlowTrailing 4 quarters | $-701.2M | $28.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $71.7M | $9.9M | ||
| Q3 25 | $142.4M | $18.5M | ||
| Q2 25 | — | $4.3M | ||
| Q1 25 | — | $2.6M | ||
| Q4 24 | $53.6M | $12.2M | ||
| Q3 24 | $-3.9M | $9.6M | ||
| Q2 24 | — | $1.3M | ||
| Q1 24 | $-27.1M | $2.2M |
| Q4 25 | $-468.0M | $7.6M | ||
| Q3 25 | $-38.0M | $16.8M | ||
| Q2 25 | — | $3.0M | ||
| Q1 25 | — | $1.5M | ||
| Q4 24 | $-85.5M | $10.0M | ||
| Q3 24 | $-109.7M | $7.9M | ||
| Q2 24 | — | $-2.0M | ||
| Q1 24 | $-108.3M | $-1.5M |
| Q4 25 | -253.4% | 6.1% | ||
| Q3 25 | -15.8% | 13.1% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 1.3% | ||
| Q4 24 | -73.6% | 8.5% | ||
| Q3 24 | -208.0% | 6.9% | ||
| Q2 24 | — | -1.9% | ||
| Q1 24 | -199.4% | -1.4% |
| Q4 25 | 292.2% | 1.9% | ||
| Q3 25 | 75.0% | 1.3% | ||
| Q2 25 | — | 1.2% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | 119.7% | 1.9% | ||
| Q3 24 | 200.6% | 1.5% | ||
| Q2 24 | — | 3.0% | ||
| Q1 24 | 149.5% | 3.3% |
| Q4 25 | — | 2.41× | ||
| Q3 25 | 0.37× | 3.46× | ||
| Q2 25 | — | 0.81× | ||
| Q1 25 | — | 0.55× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.21× | ||
| Q2 24 | — | 0.97× | ||
| Q1 24 | -3.13× | 0.94× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IREN
| Bitcoin Mining Revenue | $167.4M | 91% |
| AI Cloud Services | $17.3M | 9% |
NATR
| Other | $68.1M | 55% |
| General Health Products | $20.2M | 16% |
| Digestive Products | $13.8M | 11% |
| Cardiovascular Products | $12.1M | 10% |
| Personal Care Products | $4.4M | 4% |
| Immunity Products | $3.1M | 3% |
| Weight Management Products | $2.1M | 2% |
