WallStSmart

IREN Ltd (IREN)vsPalantir Technologies Inc. (PLTR)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Palantir Technologies Inc. generates 491% more annual revenue ($4.48B vs $757.10M). IREN leads profitability with a 51.5% profit margin vs 36.3%. PLTR appears more attractively valued with a PEG of 3.08. PLTR earns a higher WallStSmart Score of 71/100 (B).

IREN

Buy

57

out of 100

Grade: C

Growth: 10.0Profit: 5.5Value: 7.3Quality: 7.5
Piotroski: 4/9Altman Z: 1.08

PLTR

Strong Buy

71

out of 100

Grade: B

Growth: 10.0Profit: 9.5Value: 2.0Quality: 9.0
Piotroski: 5/9Altman Z: 4.62
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

IRENUndervalued (+42.4%)

Margin of Safety

+42.4%

Fair Value

$67.39

Current Price

$41.12

$26.27 discount

UndervaluedFair: $67.39Overvalued
PLTRSignificantly Overvalued (-337.0%)

Margin of Safety

-337.0%

Fair Value

$29.48

Current Price

$154.78

$125.30 premium

UndervaluedFair: $29.48Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

IREN4 strengths · Avg: 9.3/10
Profit MarginProfitability
51.5%10/10

Keeps 52 of every $100 in revenue as profit

Revenue GrowthGrowth
59.0%10/10

Revenue surging 59.0% year-over-year

Return on EquityProfitability
20.5%9/10

Every $100 of equity generates 21 in profit

EPS GrowthGrowth
42.9%8/10

Earnings expanding 42.9% YoY

PLTR6 strengths · Avg: 10.0/10
Market CapQuality
$360.38B10/10

Mega-cap, among the largest globally

Profit MarginProfitability
36.3%10/10

Keeps 36 of every $100 in revenue as profit

Operating MarginProfitability
40.9%10/10

Strong operational efficiency at 40.9%

Revenue GrowthGrowth
70.0%10/10

Revenue surging 70.0% year-over-year

EPS GrowthGrowth
648.0%10/10

Earnings expanding 648.0% YoY

Debt/EquityHealth
0.0610/10

Conservative balance sheet, low leverage

Areas to Watch

IREN4 concerns · Avg: 2.8/10
P/E RatioValuation
28.7x4/10

Moderate valuation

Debt/EquityHealth
1.533/10

Elevated debt levels

PEG RatioValuation
4.062/10

Expensive relative to growth rate

Free Cash FlowQuality
$-208.96M2/10

Negative free cash flow — burning cash

PLTR3 concerns · Avg: 2.0/10
PEG RatioValuation
3.082/10

Expensive relative to growth rate

P/E RatioValuation
239.2x2/10

Premium valuation, high expectations priced in

Price/BookValuation
50.1x2/10

Trading at 50.1x book value

Comparative Analysis Report

WallStSmart Research

Bull Case : IREN

The strongest argument for IREN centers on Profit Margin, Revenue Growth, Return on Equity. Profitability is solid with margins at 51.5% and operating margin at -45.8%. Revenue growth of 59.0% demonstrates continued momentum.

Bull Case : PLTR

The strongest argument for PLTR centers on Market Cap, Profit Margin, Operating Margin. Profitability is solid with margins at 36.3% and operating margin at 40.9%. Revenue growth of 70.0% demonstrates continued momentum.

Bear Case : IREN

The primary concerns for IREN are P/E Ratio, Debt/Equity, PEG Ratio. Debt-to-equity of 1.53 is elevated, increasing financial risk.

Bear Case : PLTR

The primary concerns for PLTR are PEG Ratio, P/E Ratio, Price/Book. A P/E of 239.2x leaves little room for execution misses.

Key Dynamics to Monitor

IREN carries more volatility with a beta of 4.32 — expect wider price swings.

PLTR is growing revenue faster at 70.0% — sustainability is the question.

PLTR generates stronger free cash flow (764M), providing more financial flexibility.

Monitor CAPITAL MARKETS industry trends, competitive dynamics, and regulatory changes.

Bottom Line

PLTR scores higher overall (71/100 vs 57/100), backed by strong 36.3% margins and 70.0% revenue growth. IREN offers better value entry with a 42.4% margin of safety. Both earn "Strong Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

IREN Ltd

FINANCIAL SERVICES · CAPITAL MARKETS · USA

IREN Limited (Ticker: IREN) is a vertically integrated data-center and digital infrastructure company traded on the Nasdaq. Headquartered in Sydney, Australia, it develops, owns and operates large-scale, renewable-powered data centers across North America that support Bitcoin mining, AI cloud services, and high-performance computing workloads. Originally known as Iris Energy Limited before rebranding in 2024, IREN combines its energy infrastructure and computing platforms to generate revenue from cryptocurrency mining and increasingly from GPU-powered AI cloud offerings. The company has secured significant power capacity and major customer contracts as it pivots toward AI data-center growth while maintaining its legacy mining business.

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Palantir Technologies Inc.

TECHNOLOGY · SOFTWARE - INFRASTRUCTURE · USA

Palantir Technologies Inc. creates and implements software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. The company is headquartered in Denver, Colorado.

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