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Side-by-side financial comparison of IREN Ltd (IREN) and STONERIDGE INC (SRI). Click either name above to swap in a different company.
STONERIDGE INC is the larger business by last-quarter revenue ($205.2M vs $184.7M, roughly 1.1× IREN Ltd). On growth, IREN Ltd posted the faster year-over-year revenue change (59.0% vs -6.0%). STONERIDGE INC produced more free cash flow last quarter ($2.6M 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.
Stoneridge Inc is a global designer and manufacturer of advanced electrical and electronic components, integrated systems, and sensor solutions. It serves automotive, commercial vehicle, off-highway, and aerospace sectors, delivering products that boost vehicle safety, efficiency, connectivity, and environmental performance across key global markets.
IREN vs SRI — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $184.7M | $205.2M |
| Net Profit | $-155.4M | — |
| Gross Margin | 64.4% | 16.2% |
| Operating Margin | -63.0% | -14.4% |
| Net Margin | -84.1% | — |
| Revenue YoY | 59.0% | -6.0% |
| Net Profit YoY | -610.0% | — |
| EPS (diluted) | $-0.52 | $-2.76 |
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 | $205.2M | ||
| Q3 25 | $240.3M | $210.3M | ||
| Q2 25 | — | $228.0M | ||
| Q1 25 | — | $217.9M | ||
| Q4 24 | $116.1M | $218.2M | ||
| Q3 24 | $52.8M | $213.8M | ||
| Q2 24 | — | $237.1M | ||
| Q1 24 | $54.3M | $239.2M |
| Q4 25 | $-155.4M | — | ||
| Q3 25 | $384.6M | $-9.4M | ||
| Q2 25 | — | $-9.4M | ||
| Q1 25 | — | $-7.2M | ||
| Q4 24 | $-21.9M | — | ||
| Q3 24 | $-51.7M | $-7.1M | ||
| Q2 24 | — | $2.8M | ||
| Q1 24 | $8.6M | $-6.1M |
| Q4 25 | 64.4% | 16.2% | ||
| Q3 25 | 66.4% | 20.3% | ||
| Q2 25 | — | 21.5% | ||
| Q1 25 | — | 21.2% | ||
| Q4 24 | 72.2% | 19.5% | ||
| Q3 24 | 39.6% | 20.8% | ||
| Q2 24 | — | 22.7% | ||
| Q1 24 | — | 20.2% |
| Q4 25 | -63.0% | -14.4% | ||
| Q3 25 | -31.8% | -1.6% | ||
| Q2 25 | — | -1.1% | ||
| Q1 25 | — | -1.5% | ||
| Q4 24 | 14.9% | -2.0% | ||
| Q3 24 | -89.2% | 0.1% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | 11.1% | 0.1% |
| Q4 25 | -84.1% | — | ||
| Q3 25 | 160.1% | -4.5% | ||
| Q2 25 | — | -4.1% | ||
| Q1 25 | — | -3.3% | ||
| Q4 24 | -18.8% | — | ||
| Q3 24 | -98.0% | -3.3% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | 15.9% | -2.6% |
| Q4 25 | $-0.52 | $-2.76 | ||
| Q3 25 | $1.08 | $-0.34 | ||
| Q2 25 | — | $-0.34 | ||
| Q1 25 | — | $-0.26 | ||
| Q4 24 | $-0.10 | $-0.22 | ||
| Q3 24 | $-0.27 | $-0.26 | ||
| Q2 24 | — | $0.10 | ||
| Q1 24 | $0.00 | $-0.22 |
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 | $66.3M |
| Total DebtLower is stronger | — | $180.9M |
| Stockholders' EquityBook value | $2.5B | $179.8M |
| Total Assets | $7.0B | $551.2M |
| Debt / EquityLower = less leverage | — | 1.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.3B | $66.3M | ||
| Q3 25 | $1.0B | $54.0M | ||
| Q2 25 | — | $49.8M | ||
| Q1 25 | — | $79.1M | ||
| Q4 24 | $427.3M | $71.8M | ||
| Q3 24 | $98.6M | $54.1M | ||
| Q2 24 | — | $42.1M | ||
| Q1 24 | $259.7M | $48.4M |
| Q4 25 | — | $180.9M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $201.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $2.5B | $179.8M | ||
| Q3 25 | $2.9B | $251.2M | ||
| Q2 25 | — | $260.5M | ||
| Q1 25 | — | $253.1M | ||
| Q4 24 | $1.2B | $245.3M | ||
| Q3 24 | $1.1B | $271.4M | ||
| Q2 24 | — | $270.5M | ||
| Q1 24 | $677.2M | $277.3M |
| Q4 25 | $7.0B | $551.2M | ||
| Q3 25 | $4.3B | $632.1M | ||
| Q2 25 | — | $639.4M | ||
| Q1 25 | — | $657.4M | ||
| Q4 24 | $1.9B | $621.6M | ||
| Q3 24 | $1.3B | $662.5M | ||
| Q2 24 | — | $666.7M | ||
| Q1 24 | $723.6M | $675.4M |
| Q4 25 | — | 1.01× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.82× | ||
| 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 | $71.7M | $8.8M |
| Free Cash FlowOCF − Capex | $-468.0M | $2.6M |
| FCF MarginFCF / Revenue | -253.4% | 1.3% |
| Capex IntensityCapex / Revenue | 292.2% | 3.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-701.2M | $12.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $71.7M | $8.8M | ||
| Q3 25 | $142.4M | $3.6M | ||
| Q2 25 | — | $10.7M | ||
| Q1 25 | — | $10.9M | ||
| Q4 24 | $53.6M | $19.2M | ||
| Q3 24 | $-3.9M | $10.8M | ||
| Q2 24 | — | $8.7M | ||
| Q1 24 | $-27.1M | $9.1M |
| Q4 25 | $-468.0M | $2.6M | ||
| Q3 25 | $-38.0M | $-2.7M | ||
| Q2 25 | — | $7.4M | ||
| Q1 25 | — | $4.8M | ||
| Q4 24 | $-85.5M | $14.0M | ||
| Q3 24 | $-109.7M | $4.6M | ||
| Q2 24 | — | $1.5M | ||
| Q1 24 | $-108.3M | $3.3M |
| Q4 25 | -253.4% | 1.3% | ||
| Q3 25 | -15.8% | -1.3% | ||
| Q2 25 | — | 3.3% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | -73.6% | 6.4% | ||
| Q3 24 | -208.0% | 2.2% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | -199.4% | 1.4% |
| Q4 25 | 292.2% | 3.0% | ||
| Q3 25 | 75.0% | 3.0% | ||
| Q2 25 | — | 1.4% | ||
| Q1 25 | — | 2.8% | ||
| Q4 24 | 119.7% | 2.4% | ||
| Q3 24 | 200.6% | 2.9% | ||
| Q2 24 | — | 3.0% | ||
| Q1 24 | 149.5% | 2.4% |
| Q4 25 | — | — | ||
| Q3 25 | 0.37× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.11× | ||
| Q1 24 | -3.13× | — |
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% |
SRI
| Control Devices | $51.7M | 25% |
| Electronics | $38.0M | 19% |
| EE | $34.2M | 17% |
| SE | $28.6M | 14% |
| NL | $24.5M | 12% |
| Stoneridge Brazil | $14.1M | 7% |
| Asia Pacific | $13.1M | 6% |
