Iron Mountain Incorporated

DB:I5M Stock Report

Market Cap: €29.6b

Iron Mountain Valuation

Is I5M undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of I5M when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: I5M (€101.25) is trading below our estimate of fair value (€184.55)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for I5M?

Key metric: As I5M is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for I5M. This is calculated by dividing I5M's market cap by their current revenue.
What is I5M's PS Ratio?
PS Ratio5.2x
SalesUS$5.99b
Market CapUS$30.84b

Price to Sales Ratio vs Peers

How does I5M's PS Ratio compare to its peers?

The above table shows the PS ratio for I5M vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average7x
VICI VICI Properties
8x3.5%US$30.3b
GLPI Gaming and Leisure Properties
8.5x5.8%US$13.3b
LAMR Lamar Advertising
5.8x4.5%US$12.6b
AOX alstria office REIT-AG
5.6x-1.5%€1.4b
I5M Iron Mountain
5.2x8.7%€30.8b

Price-To-Sales vs Peers: I5M is good value based on its Price-To-Sales Ratio (5.2x) compared to the peer average (7x).

Price to Sales Ratio vs Industry

How does I5M's PS Ratio compare vs other companies in the Global Specialized REITs Industry?

3 CompaniesPrice / SalesEstimated GrowthMarket Cap
I5M 5.2xIndustry Avg. 8.0xNo. of Companies6PS048121620+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: I5M is good value based on its Price-To-Sales Ratio (5.2x) compared to the Global Specialized REITs industry average (8x).

Price to Sales Ratio vs Fair Ratio

What is I5M's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

I5M PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio5.2x
Fair PS Ratio14.7x

Price-To-Sales vs Fair Ratio: I5M is good value based on its Price-To-Sales Ratio (5.2x) compared to the estimated Fair Price-To-Sales Ratio (14.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst I5M forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€101.25
€115.83
+14.4%
24.2%€132.51€42.59n/a8
Dec ’25€117.30
€115.83
-1.3%
24.2%€132.51€42.59n/a8
Nov ’25€113.00
€110.23
-2.5%
24.7%€129.68€40.76n/a8
Oct ’25€107.10
€94.06
-12.2%
26.4%€125.41€39.42n/a8
Sep ’25€100.85
€93.58
-7.2%
24.5%€110.87€40.32n/a8
Aug ’25€101.10
€88.50
-12.5%
24.6%€111.20€40.77n/a8
Jul ’25€83.08
€78.49
-5.5%
19.0%€94.37€41.11n/a8
Jun ’25€73.22
€76.18
+4.0%
17.9%€84.03€40.63n/a8
May ’25€72.06
€72.22
+0.2%
18.4%€83.58€40.41n/a8
Apr ’25€74.38
€72.22
-2.9%
18.4%€83.58€40.41n/a8
Mar ’25€73.68
€68.96
-6.4%
16.3%€76.70€40.66n/a8
Feb ’25€62.28
€63.63
+2.2%
14.8%€72.59€40.43n/a8
Jan ’25€64.12
€60.39
-5.8%
13.6%€68.24€40.04n/a8
Dec ’24€58.60
€60.89
+3.9%
12.9%€68.26€41.14€117.308
Nov ’24€56.40
€63.20
+12.1%
4.5%€68.84€59.66€113.007
Oct ’24€56.54
€63.20
+11.8%
4.5%€68.84€59.66€107.107
Sep ’24€58.68
€63.20
+7.7%
4.5%€68.84€59.66€100.857
Aug ’24€55.88
€57.55
+3.0%
5.5%€62.60€52.62€101.107
Jul ’24€52.02
€57.55
+10.6%
5.5%€62.60€52.62€83.087
Jun ’24€49.44
€57.55
+16.4%
5.5%€62.60€52.62€73.227
May ’24€49.67
€57.33
+15.4%
6.7%€63.76€52.51€72.067
Apr ’24€47.30
€57.33
+21.2%
6.7%€63.76€52.51€74.387
Mar ’24€49.57
€58.09
+17.2%
6.5%€64.46€54.03€73.687
Feb ’24€49.61
€57.41
+15.7%
7.3%€64.15€51.89€62.287
Jan ’24€46.67
€57.41
+23.0%
7.3%€64.15€51.89€64.127
Dec ’23€52.15
€59.19
+13.5%
6.8%€66.71€53.96€58.606

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 10:16
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Iron Mountain Incorporated is covered by 25 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Andrew WittmannBaird
Gary BisbeeBarclays
Brendan LynchBarclays