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Iron Mountain NYSE:IRM Stock Report

Last Price


Market Cap







26 Jun, 2022


Company Financials +
IRM fundamental analysis
Snowflake Score
Future Growth2/6
Past Performance4/6
Financial Health0/6

IRM Stock Overview

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

Iron Mountain Competitors













Price History & Performance

Summary of all time highs, changes and price drops for Iron Mountain
Historical stock prices
Current Share PriceUS$49.46
52 Week HighUS$58.61
52 Week LowUS$41.67
1 Month Change-4.81%
3 Month Change-7.27%
1 Year Change14.60%
3 Year Change58.02%
5 Year Change43.95%
Change since IPO679.27%

Recent News & Updates

Jun 09

Iron Mountain, Iron Dividend

Iron Mountain is undergoing a transformation from physical storage to digital management. Recent top-line growth illustrates management's ability to navigate a difficult economic backdrop while executing new company strategy. Dividend per share has been stagnant, but expectations are for new dividend growth in the coming years.

May 30
I Ran A Stock Scan For Earnings Growth And Iron Mountain (NYSE:IRM) Passed With Ease

I Ran A Stock Scan For Earnings Growth And Iron Mountain (NYSE:IRM) Passed With Ease

It's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks...

May 29

Iron Mountain: Tune Out The Noise And Collect This Steady Check

Iron Mountain has strong pricing power, which has allowed it to generate impressive AFFO/share growth. It's seeing robust leasing trends in its data center business, and management raised leasing guidance. I also highlight the dividend, balance sheet, valuation, and other points worth considering.

Shareholder Returns


Return vs Industry: IRM exceeded the US REITs industry which returned -8.6% over the past year.

Return vs Market: IRM exceeded the US Market which returned -18.5% over the past year.

Price Volatility

Is IRM's price volatile compared to industry and market?
IRM volatility
IRM Average Weekly Movement5.2%
REITs Industry Average Movement4.9%
Market Average Movement8.1%
10% most volatile stocks in US Market16.6%
10% least volatile stocks in US Market3.2%

Stable Share Price: IRM is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: IRM's weekly volatility (5%) has been stable over the past year.

About the Company

195125,000Bill Meaney

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 approximately 1,450 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.

Iron Mountain Fundamentals Summary

How do Iron Mountain's earnings and revenue compare to its market cap?
IRM fundamental statistics
Market CapUS$14.37b
Earnings (TTM)US$446.92m
Revenue (TTM)US$4.66b


P/E Ratio


P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
IRM income statement (TTM)
Cost of RevenueUS$1.98b
Gross ProfitUS$2.68b
Other ExpensesUS$2.23b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date


Earnings per share (EPS)1.54
Gross Margin57.45%
Net Profit Margin9.59%
Debt/Equity Ratio1,188.8%

How did IRM perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio
We’ve recently updated our valuation analysis.


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

Valuation Score


Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

IRM key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue5.8x
Enterprise Value/EBITDA16.9x
PEG Ratio2.1x

Price to Earnings Ratio vs Peers

How does IRM's PE Ratio compare to its peers?

IRM PE Ratio vs Peers
The above table shows the PE ratio for IRM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average30.6x

Price-To-Earnings vs Peers: IRM is expensive based on its Price-To-Earnings Ratio (32.2x) compared to the peer average (30.6x).

Price to Earnings Ratio vs Industry

How does IRM's PE Ratio compare vs other companies in the U.S. REITs Industry?

Price-To-Earnings vs Industry: IRM is expensive based on its Price-To-Earnings Ratio (32.2x) compared to the US REITs industry average (31.6x)

Price to Earnings Ratio vs Fair Ratio

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

IRM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio32.2x
Fair PE Ratio45.3x

Price-To-Earnings vs Fair Ratio: IRM is good value based on its Price-To-Earnings Ratio (32.2x) compared to the estimated Fair Price-To-Earnings Ratio (45.3x).

Share Price vs Fair Value

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

Below Fair Value: IRM ($49.46) is trading below our estimate of fair value ($104.32)

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

Price to Earnings Growth Ratio

PEG Ratio: IRM is poor value based on its PEG Ratio (2.1x)

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Future Growth

How is Iron Mountain forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

Future Growth Score


Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: IRM's forecast earnings growth (15.1% per year) is above the savings rate (1.9%).

Earnings vs Market: IRM's earnings (15.1% per year) are forecast to grow faster than the US market (14% per year).

High Growth Earnings: IRM's earnings are forecast to grow, but not significantly.

Revenue vs Market: IRM's revenue (5.2% per year) is forecast to grow slower than the US market (8.4% per year).

High Growth Revenue: IRM's revenue (5.2% 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 IRM's Return on Equity is forecast to be high in 3 years time

Discover growth companies

Past Performance

How has Iron Mountain performed over the past 5 years?

Past Performance Score


Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: IRM has high quality earnings.

Growing Profit Margin: IRM's current net profit margins (9.6%) are higher than last year (7.8%).

Past Earnings Growth Analysis

Earnings Trend: IRM's earnings have grown significantly by 21.7% per year over the past 5 years.

Accelerating Growth: IRM's earnings growth over the past year (37.8%) exceeds its 5-year average (21.7% per year).

Earnings vs Industry: IRM earnings growth over the past year (37.8%) underperformed the REITs industry 69.5%.

Return on Equity

High ROE: Whilst IRM's Return on Equity (53.81%) is outstanding, this metric is skewed due to their high level of debt.

Discover strong past performing companies

Financial Health

How is Iron Mountain's financial position?

Financial Health Score


Financial Health Score 0/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: IRM's short term assets ($1.5B) do not cover its short term liabilities ($1.7B).

Long Term Liabilities: IRM's short term assets ($1.5B) do not cover its long term liabilities ($13.1B).

Debt to Equity History and Analysis

Debt Level: IRM's net debt to equity ratio (1165.3%) is considered high.

Reducing Debt: IRM's debt to equity ratio has increased from 322% to 1188.8% over the past 5 years.

Debt Coverage: IRM's debt is not well covered by operating cash flow (7.5%).

Interest Coverage: IRM's interest payments on its debt are not well covered by EBIT (2.2x coverage).

Balance Sheet

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

Dividend Score


Dividend Score 5/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: IRM's dividend (5%) is higher than the bottom 25% of dividend payers in the US market (1.57%).

High Dividend: IRM's dividend (5%) is in the top 25% of dividend payers in the US market (4.24%)

Stability and Growth of Payments

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

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

Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (109.9%), IRM's dividend payments are not well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (1465.3%), IRM's dividend payments are not well covered by cash flows.

Discover strong dividend paying companies


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


Average management tenure


Bill Meaney (61 yo)





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 ($USD17.05M) is about average for companies of similar size in the US market ($USD13.61M).

Compensation vs Earnings: Bill's compensation has increased by more than 20% in the past year.

Leadership Team

Experienced Management: IRM's management team is considered experienced (4.4 years average tenure).

Board Members

Experienced Board: IRM's board of directors are considered experienced (8.1 years average tenure).


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

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

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

Top Shareholders

Company Information

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

Key Information

  • Name: Iron Mountain Incorporated
  • Ticker: IRM
  • Exchange: NYSE
  • Founded: 1951
  • Industry: Specialized REITs
  • Sector: Real Estate
  • Implied Market Cap: US$14.371b
  • Shares outstanding: 290.56m
  • Website:

Number of Employees


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


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/26 00:00
End of Day Share Price2022/06/24 00:00
Annual Earnings2021/12/31

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.