Iron Mountain (IRM) Stock Overview
A global leader in information management services, and is trusted by more than 240,000 customers in 61 countries. More details
| Snowflake Score | |
|---|---|
| Valuation | 2/6 |
| Future Growth | 3/6 |
| Past Performance | 3/6 |
| Financial Health | 0/6 |
| Dividends | 3/6 |
Rewards
Risk Analysis
IRM Community Fair Values
Create NarrativeSee what 72 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Top Community Narratives
US$160
FV
22.8% undervalued intrinsic discount66
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Iron Mountain Incorporated Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$123.52 |
| 52 Week High | US$134.09 |
| 52 Week Low | US$77.77 |
| Beta | 1.23 |
| 1 Month Change | 4.62% |
| 3 Month Change | 16.72% |
| 1 Year Change | 22.86% |
| 3 Year Change | 125.77% |
| 5 Year Change | 185.79% |
| Change since IPO | 1,846.14% |
Recent News & Updates
Recent updates
Narrative Update • May 03
IRM: Richer P E Assumptions Will Pressure Execution On Revenue And Margins
The analyst price target for Iron Mountain has been raised by several firms, supporting a modest increase in the fair value estimate to about $73 as analysts factor in updated assumptions for the discount rate, revenue growth, profit margin, and a higher future P/E multiple. Analyst Commentary Recent research on Iron Mountain has tilted generally constructive on fair value, but there are still pockets of caution that are worth weighing before you lean too heavily on the higher price targets.Seeking Alpha • Apr 30
Iron Mountain: Blowout Earnings Thanks To Synergistic Storage/AI Offerings -- Maintain Buy
Summary IRM's FQ1'26 earnings call saw strong organic revenue growth, margin expansion, and raised FY2026 guidance, underscoring resilient and profitable growth prospects. The data center segment is the REIT's key growth driver, benefiting from AI-driven demand, high utilization/growing footprint, and elevated renewal pricing. The Asset Lifecycle Management segment also benefits from the tight GPU/memory chip supply environment, with it consequently triggering the growing decommissioning/remarketing trends. IRM trades at reasonable valuations versus peers while offering a more than decent dividend yield at 3% and a projected total return of ~25% from current levels. These developments underscore the REIT's highly synergistic business model across physical and digital storage/decommissioning services during the multi-year cloud supercycle. Read the full article on Seeking Alpha
Narrative Update • Apr 19
IRM: Fine Tuning Discount Rate And P/E Will Shape Forward Compounding Potential
Analysts made a marginal adjustment to Iron Mountain's fair value estimate, trimming it by about $0.09 to reflect a slightly lower discount rate and a modestly revised future P/E assumption, following the recent $1 increase in the Street's price target to $127. Analyst Commentary Bullish analysts are treating the recent $1 lift in the Street price target to $127 as a modest but supportive signal for Iron Mountain, with the internal fair value adjustment of about $0.09 largely viewed as a technical clean up rather than a change in fundamental conviction.Narrative Update • Apr 04
IRM: Sector Caution And Execution Risks Will Pressure Premium P E Multiple
Iron Mountain's analyst price target has been increased by $1 to $127, with analysts citing modest adjustments in revenue growth, profit margin and P/E assumptions to reflect recent sector research and updated REIT group views. Analyst Commentary Recent Street research on Iron Mountain has centered on incremental price target adjustments, with Barclays moving its target to $127 from $126 and previously to $126 from $123.Narrative Update • Mar 21
IRM: 2026 REIT Outlook And Guidance Will Support Future Compounding Potential
Analysts have nudged their price target on Iron Mountain higher, with a roughly $3 increase supported by slightly higher fair value estimates, a modestly lower discount rate, and updated assumptions for revenue growth, profit margins, and future P/E multiples. Analyst Commentary Recent Street research on Iron Mountain is limited but generally constructive, with several bullish analysts fine tuning their models and price targets while flagging a few areas for investors to monitor.Narrative Update • Mar 07
IRM: Sector Headwinds And Execution Risks Will Eventually Pressure Premium Multiple
Narrative Update: Iron Mountain The intrinsic value estimate for Iron Mountain has been revised higher, with the analyst price target moving up by $1 to $127 as analysts factor in updated assumptions for discount rate, revenue growth, profit margin and future P/E while aligning with the recent Street target increase. Analyst Commentary Recent Street research on Iron Mountain has centered on incremental target adjustments and how the stock fits into broader sector views.Narrative Update • Feb 20
IRM: 2026 REIT Outlook And Guidance Will Frame Future Compounding Potential
The analyst price target for Iron Mountain has been raised by $3 to $126, with analysts pointing to updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E to support the change. Analyst Commentary Recent research on Iron Mountain centers on how it fits within the broader real estate investment trust group, with the updated US$126 price target reflecting refreshed thinking on sector positioning, valuation, and growth assumptions.Narrative Update • Feb 06
IRM: Short Seller Accounting Concerns Will Eventually Pressure Premium Multiple
Analysts have lifted their Iron Mountain price target by $3 to $126, citing updated REIT group assumptions, modest adjustments to growth and margin forecasts, and continued support from recent research defending the stock following the short report. Analyst Commentary Recent research on Iron Mountain has centered on price target fine tuning and reactions to the short report, giving you a window into how the sell side is thinking about both risk and reward.Narrative Update • Jan 23
IRM: Short Seller Accounting Allegations Will Trigger Overvaluation Reset Despite Supportive Research
Narrative Update Analysts have nudged their Iron Mountain outlook higher, with the price target increasing by $3 to $126. This is supported by refreshed models that reflect modestly adjusted growth, margin and discount rate assumptions, along with continued supportive views in recent research commentary.Narrative Update • Jan 07
IRM: Short Seller Accounting Allegations Will Drive Bearish Repricing Ahead
Analysts have lifted their Iron Mountain price target to US$123 from US$122, citing updated company modeling and confidence that recent short-seller concerns are already well understood and unlikely to alter the long term growth narrative. Analyst Commentary Recent research comments around Iron Mountain have centered on how much weight to place on the short report and what it means for long term execution and growth risks.Narrative Update • Dec 22
IRM: Leverage And Accounting Concerns Will Drive Bearish Repricing Ahead
Analysts have raised their price target on Iron Mountain by about $4 to approximately $123, citing continued confidence in double digit growth compounding and management's reassurances that recent short seller concerns are a temporary distraction rather than a change in fundamentals. Analyst Commentary Recent research updates have emphasized that the latest short report is unlikely to alter the long term growth trajectory for Iron Mountain, with several firms reiterating positive ratings and modestly lifting price targets.Narrative Update • Dec 08
IRM: Digital And Data Center Expansion Will Drive Long-Term Compounding Despite Short Report
Analysts have nudged their blended price target on Iron Mountain modestly higher to about $117 per share, citing continued confidence in double digit growth, resilient data center and digital expansion, and recent supportive research that raised targets to the $120 to $125 range despite short seller noise. Analyst Commentary Recent Street commentary on Iron Mountain has been broadly supportive, with most research notes emphasizing resilient fundamentals, execution on growth initiatives, and a limited fundamental impact from recent short seller noise.Narrative Update • Nov 24
IRM: Continued Expansion Into Digital Solutions Will Drive Long-Term Momentum
The analyst fair value estimate for Iron Mountain has been slightly increased to $116.73 from $116.45. Analysts cite the company's resilience to recent short reports and ongoing strength in its growth initiatives.Narrative Update • Nov 07
IRM: Expanding Data Centers And Digital Offerings Will Drive Future Momentum
Iron Mountain's analyst fair value estimate increased from $114.50 to $116.45 as analysts highlighted accelerating growth from digital and data center initiatives. They cited strengthened cross-selling opportunities and model adjustments in the sector.Seeking Alpha • Apr 29
Hammered Prices, Elevated Yields: Iron Mountain's Income Sweet Spot
Summary Iron Mountain (IRM) stock has declined significantly, but its dividend yield is now more attractive, supported by a robust underlying business and capital discipline. The company excels in providing comprehensive storage and information management solutions, with strong growth in digital solutions and data center platforms. Q4 performance was solid with 11.4% YOY sales growth, and the company maintains a strong balance sheet with $3.3 billion in liquidity. Despite risks like a high payout ratio and potential earnings volatility, IRM's diversified model and growth prospects make it a strong investment at current levels. Read the full article on Seeking AlphaSeeking Alpha • Feb 19
Iron Mountain: Near-Term Growth Trajectory Is A Concern
Summary I am neutral on Iron Mountain (IRM) due to near-term execution risks and high valuation despite compelling long-term growth drivers in data centers and ALM. IRM's data center business is a significant growth catalyst, with strong revenue and margin expansion, but near-term pricing pressures and missed leasing targets are concerning. IRM's balance sheet risk is notable, with high leverage and increasing capex potentially pressuring free cash flow and limiting debt reduction and capital returns. At 48x NTM PE, IRM is expensive, and any growth disappointments or balance sheet issues could negatively impact investor sentiment, warranting a hold rating. Read the full article on Seeking AlphaSeeking Alpha • Jan 12
Iron Mountain's Warranted Correction Triggers A Richer Return Profile Ahead
Summary IRM has already lost all of its July/ August 2024 market rotation gains, with it offering interested investors with an improved margin of safety. This is significantly aided by the rich dividend hike by +10%, well exceeding historical averages, with it triggering the REIT's richer return profile moving forward. IRM is set to report increased data center leasing over the next few quarters, significantly aided by the recent acquisition & the eventual capacity growth to over 1.2 GW (+30%). Despite the ongoing investments, the management has committed to a leverage target of between 4.5x and 5.5x, with it underscoring their focus to deliver growth sustainably. With IRM currently retesting the H2'24 support levels/ 200 day moving averages of $100s, we urge readers to observe the stock price movement for a little longer before adding. Read the full article on Seeking AlphaSeeking Alpha • Dec 11
Iron Mountain: Well-Run REIT, Overpriced For Now
Summary Iron Mountain Incorporated generates strong revenue, earnings, and AFFO growth with a robust business model that offers non-cyclical continuity. IRM's high P/E ratio and low forward dividend yield of 2.55% indicate overvaluation. Management is adept at generating a high ROE and finding new ways to monetize services. I rate Iron Mountain stock as a “Hold” currently due to its high stock price valuation, waiting to buy shares on a pullback. Read the full article on Seeking AlphaShareholder Returns
| IRM | US Specialized REITs | US Market | |
|---|---|---|---|
| 7D | -2.1% | -2.0% | -1.0% |
| 1Y | 22.9% | 0.3% | 23.3% |
Return vs Industry: IRM exceeded the US Specialized REITs industry which returned -0.2% over the past year.
Return vs Market: IRM underperformed the US Market which returned 24.4% over the past year.
Price Volatility
| IRM volatility | |
|---|---|
| IRM Average Weekly Movement | 4.9% |
| Specialized REITs Industry Average Movement | 3.7% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.2% |
| 10% least volatile stocks in US Market | 3.2% |
Stable Share Price: IRM has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: IRM's weekly volatility (5%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1951 | 29,400 | Bill Meaney | www.ironmountain.com |
Iron Mountain Incorporated is a global leader in information management services, and is trusted by more than 240,000 customers in 61 countries. It also includes approximately 95% of the Fortune 1000, to help unlock value and intelligence from their assets through services that transcend the physical and digital worlds. Their broad range of solutions address their information management, digital transformation, information security, data center and asset lifecycle management (ALM) needs.
Iron Mountain Incorporated Fundamentals Summary
| IRM fundamental statistics | |
|---|---|
| Market cap | US$36.88b |
| Earnings (TTM) | US$272.30m |
| Revenue (TTM) | US$7.25b |
135.0x
P/E Ratio5.1x
P/S RatioIs IRM overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| IRM income statement (TTM) | |
|---|---|
| Revenue | US$7.25b |
| Cost of Revenue | US$3.26b |
| Gross Profit | US$3.99b |
| Other Expenses | US$3.71b |
| Earnings | US$272.30m |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 0.92 |
| Gross Margin | 55.02% |
| Net Profit Margin | 3.76% |
| Debt/Equity Ratio | -1,895.0% |
How did IRM perform over the long term?
See historical performance and comparisonDividends
2.8%
Current Dividend Yield132%
Payout RatioDoes IRM pay a reliable dividends?
See IRM dividend history and benchmarks| Iron Mountain dividend dates | |
|---|---|
| Ex Dividend Date | Jun 15 2026 |
| Dividend Pay Date | Jul 03 2026 |
| Days until Ex dividend | 25 days |
| Days until Dividend pay date | 43 days |
Does IRM pay a reliable dividends?
See IRM dividend history and benchmarksCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/19 12:00 |
| End of Day Share Price | 2026/05/19 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
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.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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.
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 Github.
Analyst Sources
Iron Mountain Incorporated is covered by 27 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Andrew Wittmann | Baird |
| Brendan Lynch | Barclays |
| Gary Bisbee | Barclays |