IREN Limited (IREN) vs Virtu Financial, Inc. (VIRT)

IREN Limited and Virtu Financial, Inc. are both Capital Markets companies. Virtu Financial, Inc. is the larger, with a market value of $8.4B against $7.3B — 1.1× the size. IREN Limited has negative trailing earnings, so its P/E is not meaningful; Virtu Financial, Inc. trades at 8.9×. IREN Limited grew revenue faster over the last twelve months: 41.1% against 20.8%. Virtu Financial, Inc. has the higher net margin (12.7% vs −99.4%) and the higher return on invested capital (0.00% vs −5.53%). Across the 18 metrics below, Virtu Financial, Inc. leads on 13 and IREN Limited on 5.

Valuation

Metric IREN VIRT Capital Markets median
P/E n/m 8.93 14.35
P/S 8.36 1.15 2.07
P/B 1.41 2.03 1.36
Price to free cash flow n/m 9.84 9.28
EV/EBITDA — — —
EV/Sales — — —
Earnings yield (10.70%) 11.20% (8.28%)
Free cash flow yield (14.78%) 10.16% (1.12%)

Profitability

Metric IREN VIRT Capital Markets median
Gross margin 68.92% 81.77% 68.15%
Operating margin (54.17%) 49.26% 0.00%
Net margin (99.38%) 12.70% (0.34%)
Free cash flow margin (123.59%) 11.73% 0.00%
Return on equity (23.41%) 26.18% 0.00%
Return on assets (7.50%) 2.22% 0.00%
Return on invested capital (5.53%) 0.00% 0.00%

Growth

Metric IREN VIRT Capital Markets median
Revenue growth (TTM) 41.11% 20.76% 19.72%
EPS growth (last fiscal year) (669.23%) 72.73% 16.79%
Revenue growth, 5-year CAGR 142.17% 2.32% 17.41%
Net income growth, 5-year CAGR 0.00% (7.58%) 0.00%

Health

Metric IREN VIRT Capital Markets median
Debt to equity 1.84 0.87 0.07
Current ratio 3.55 0.45 1.51
Net debt to EBITDA 3.30 (1.76) (0.03)

Dividend

Metric IREN VIRT Capital Markets median
Dividend yield — 1.79% 1.58%
Payout ratio — 0.16 0.19

Size

Metric IREN VIRT Capital Markets median
Market cap 7.30b 8.37b 527.01m

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