Stock Analysis Report

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Executive Summary

Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services.

Snowflake Analysis

Established dividend payer with moderate growth potential.

Similar Companies

Share Price & News

How has Iron Mountain's share price performed over time and what events caused price changes?

Latest Share Price and Events

Stable Share Price: I5M has not had significant price volatility in the past 3 months.

Market Performance

7 Day Return






DE Market

1 Year Return






DE Market

Return vs Industry: I5M underperformed the German REITs industry which returned 8.9% over the past year.

Return vs Market: I5M underperformed the German Market which returned 3% over the past year.

Shareholder returns

7 Day-0.4%-2.0%0.7%
30 Day-10.9%-0.7%1.4%
90 Day-4.0%6.0%17.3%
1 Year-3.2%-10.9%10.2%9.7%6.2%3.9%
3 Year-0.9%-20.3%-2.7%-15.6%1.8%-6.2%
5 Year14.0%-19.1%2.3%-19.0%9.3%-5.4%

Price Volatility Vs. Market

How volatile is Iron Mountain's share price compared to the market and industry in the last 5 years?

Simply Wall St News

No news available


Is Iron Mountain undervalued compared to its fair value and its price relative to the market?


Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: I5M (€23.62) is trading below our estimate of fair value (€52.65)

Significantly Below Fair Value: I5M is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: I5M is poor value based on its PE Ratio (25.5x) compared to the DE REITs industry average (8.7x).

PE vs Market: I5M is poor value based on its PE Ratio (25.5x) compared to the German market (21x).

Price to Earnings Growth Ratio

PEG Ratio: I5M is poor value based on its PEG Ratio (1.1x)

Price to Book Ratio

PB vs Industry: I5M is overvalued based on its PB Ratio (6.9x) compared to the DE REITs industry average (1.5x).

Next Steps

Future Growth

How is Iron Mountain forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: I5M's forecast earnings growth (23.8% per year) is above the savings rate (0.2%).

Earnings vs Market: I5M's earnings (23.8% per year) are forecast to grow faster than the German market (22.4% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: I5M's revenue (4.1% per year) is forecast to grow slower than the German market (6% per year).

High Growth Revenue: I5M's revenue (4.1% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if I5M's Return on Equity is forecast to be high in 3 years time

Next Steps

Past Performance

How has Iron Mountain performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: I5M has high quality earnings.

Growing Profit Margin: I5M's current net profit margins (7.1%) are lower than last year (8.4%).

Past Earnings Growth Analysis

Earnings Trend: I5M's earnings have grown significantly by 22% per year over the past 5 years.

Accelerating Growth: I5M's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: I5M had negative earnings growth (-15.5%) over the past year, making it difficult to compare to the REITs industry average (25.3%).

Return on Equity

High ROE: Whilst I5M's Return on Equity (25.52%) is high, this metric is skewed due to their high level of debt.

Next Steps

Financial Health

How is Iron Mountain's financial position?

Financial Position Analysis

Short Term Liabilities: I5M's short term assets ($1.2B) do not cover its short term liabilities ($1.6B).

Long Term Liabilities: I5M's short term assets ($1.2B) do not cover its long term liabilities ($10.8B).

Debt to Equity History and Analysis

Debt Level: I5M's debt to equity ratio (716.9%) is considered high.

Reducing Debt: I5M's debt to equity ratio has increased from 625% to 716.9% over the past 5 years.

Debt Coverage: I5M's debt is not well covered by operating cash flow (11.5%).

Interest Coverage: I5M's interest payments on its debt are not well covered by EBIT (1.9x coverage).

Balance Sheet

Next Steps


What is Iron Mountain current dividend yield, its reliability and sustainability?


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: I5M's dividend (9.25%) is higher than the bottom 25% of dividend payers in the German market (1.25%).

High Dividend: I5M's dividend (9.25%) is in the top 25% of dividend payers in the German market (3.85%)

Stability and Growth of Payments

Stable Dividend: I5M's dividends per share have been stable in the past 10 years.

Growing Dividend: I5M's dividend payments have increased over the past 10 years.

Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (127.4%), I5M's dividend payments are not well covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: I5M's dividends in 3 years are forecast to be thoroughly covered by earnings (0.3% payout ratio).

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Bill Meaney (60yo)





Mr. William L. Meaney, also known as Bill, BSc, MEng, MSIA, serves as Director of State Street Corporation since March 29, 2018. Mr. Meaney serves as Director at State Street Bank and Trust Company (Boston ...

CEO Compensation Analysis

Compensation vs Market: Bill's total compensation ($USD10.89M) is above average for companies of similar size in the German market ($USD3.69M).

Compensation vs Earnings: Bill's compensation has been consistent with company performance over the past year.

Leadership Team

William Meaney
President7.5yrsUS$10.89m0.065% $4.4m
John Tomovcsik
Executive VP & Chief Operating Officer2.5yrsUS$1.70m0.026% $1.7m
Ernest Cloutier
EVP & GM of Global Records and Information Management6.08yrsUS$3.60m0.026% $1.8m
Barry Hytinen
Executive VP & CFO0.50yrno datano data
Daniel Borges
Chief Accounting Officer & Senior VP2.75yrsno data0.0026% $171.2k
Kimberly Anstett
CTO & Executive VP0.17yrno datano data
Greer Aviv
Senior Vice President of Investor Relations1.75yrsno datano data
Deborah Marson
Executive VP3.58yrsno data0.013% $894.0k
Christian Potts
Senior Manager of Corporate Communicationsno datano datano data
Emma Jeffries
Executive VP and Chief People & Diversity Officer0.50yrno data0.0015% $98.6k


Average Tenure


Average Age

Experienced Management: I5M's management team is considered experienced (2.5 years average tenure).

Board Members

William Meaney
President7.5yrsUS$10.89m0.065% $4.4m
Paul Deninger
Independent Director9.83yrsUS$267.26k0.023% $1.5m
Kent Dauten
Independent Director22.67yrsUS$285.50k0.70% $46.7m
Walter Rakowich
Independent Director6.92yrsUS$284.60k0.0096% $638.2k
Per-Kristian Halvorsen
Independent Director10.83yrsUS$333.46k0.011% $710.1k
Clarke Bailey
Independent Director22.5yrsUS$392.98k0.053% $3.5m
Alfred Verrecchia
Independent Chairman of the Board7.33yrsUS$487.03k0.0058% $385.0k
Pamela Arway
Independent Director6.17yrsUS$287.51k0.0088% $584.9k
Jennifer Allerton
Independent Director5.83yrsUS$263.50k0.0044% $296.4k
Wendy Murdock
Independent Non-Executive Director4.17yrsUS$277.29k0.0096% $641.5k


Average Tenure


Average Age

Experienced Board: I5M's board of directors are considered experienced (7.4 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: I5M insiders have only sold shares in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

Iron Mountain Incorporated's company bio, employee growth, exchange listings and data sources

Key Information

  • Name: Iron Mountain Incorporated
  • Ticker: I5M
  • Exchange: DB
  • Founded: 1951
  • Industry: Specialized REITs
  • Sector: Real Estate
  • Market Cap: US$7.537b
  • Listing Market Cap: US$6.662b
  • Shares outstanding: 287.88m
  • Website: https://www.ironmountain.com

Number of Employees


  • Iron Mountain Incorporated
  • One Federal Street
  • Boston
  • Massachusetts
  • 2110
  • United States


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IRMNYSE (New York Stock Exchange)YesCommon StockUSUSDJul 1997
I5MDB (Deutsche Boerse AG)YesCommon StockDEEURJul 1997
0JDPLSE (London Stock Exchange)YesCommon StockGBUSDJul 1997
IRM1 *BMV (Bolsa Mexicana de Valores)YesCommon StockMXMXNJul 1997
I1RM34BOVESPA (Bolsa de Valores de Sao Paulo)BDR EACH 1 REPR 1 SHS UNSPONBRBRLJan 2020


Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 90 million square feet across more than 1,480 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts. Providing solutions that include secure records storage, information management, digital transformation, secure destruction, as well as data centers, cloud services and art storage and logistics, Iron Mountain helps customers lower cost and risk, comply with regulations, recover from disaster, and enable a more digital way of working. 

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/10 21:22
End of Day Share Price2020/07/10 00:00
Annual Earnings2019/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.