In this note, I develop a representation-theoretic refinement of the Iwasawa theory of finite Cayley graphs. Building on analogies between graph zeta functions and number-theoretic L-functions, I study $\mathbb{Z}_\ell$-towers of Cayley graphs and the asymptotic growth of their Jacobians. My main result establishes that the Iwasawa polynomial associated to such a tower admits a canonical factorization indexed by the irreducible representations of the underlying group. This leads to the definition of representation-theoretic Iwasawa polynomials, whose properties are studied.