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Iron Mountain

NYSE:IRM
Snowflake Description

Proven track record and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IRM
NYSE
$9B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. The last earnings update was 21 days ago. More info.


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IRM Share Price and Events
7 Day Returns
3.2%
NYSE:IRM
0.2%
US REITs
-3.9%
US Market
1 Year Returns
-0.3%
NYSE:IRM
13%
US REITs
1.4%
US Market
IRM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Iron Mountain (IRM) 3.2% -11.3% -9% -0.3% -12% 7.2%
US REITs 0.2% -1.4% 3.2% 13% 8.8% 24%
US Market -3.9% -3.6% 1.8% 1.4% 35.8% 40.8%
1 Year Return vs Industry and Market
  • IRM underperformed the REITs industry which returned 13% over the past year.
  • IRM underperformed the Market in United States of America which returned 1.4% over the past year.
Price Volatility
IRM
Industry
5yr Volatility vs Market

Value

 Is Iron Mountain undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Iron Mountain to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Iron Mountain.

NYSE:IRM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:IRM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.531 (1 + (1- 21%) (112.93%))
1.004
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.004 * 5.96%)
8.71%

Discounted Cash Flow Calculation for NYSE:IRM using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Iron Mountain is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Iron Mountain is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:IRM DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 8.71%)
2019 855.78 Analyst x6 787.20
2020 940.21 Analyst x6 795.55
2021 1,016.84 Analyst x1 791.44
2022 1,076.29 Analyst x1 770.58
2023 1,137.87 Analyst x1 749.38
2024 1,197.05 Est @ 5.2% 725.18
2025 1,250.44 Est @ 4.46% 696.82
2026 1,299.72 Est @ 3.94% 666.24
2027 1,346.22 Est @ 3.58% 634.77
2028 1,390.96 Est @ 3.32% 603.31
Present value of next 10 years cash flows $7,220.49
NYSE:IRM DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $1,390.96 × (1 + 2.73%) ÷ (8.71% – 2.73%)
$23,887.20
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $23,887.20 ÷ (1 + 8.71%)10
$10,360.71
NYSE:IRM Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $7,220.49 + $10,360.71
$17,581.20
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $17,581.20 / 286.88
$61.28
NYSE:IRM Discount to Share Price
Calculation Result
Value per share (USD) From above. $61.28
Current discount Discount to share price of $31.96
= -1 x ($31.96 - $61.28) / $61.28
47.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Iron Mountain is available for.
Intrinsic value
48%
Share price is $31.96 vs Future cash flow value of $61.28
Current Discount Checks
For Iron Mountain to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Iron Mountain's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Iron Mountain's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Iron Mountain's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Iron Mountain's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:IRM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.26
NYSE:IRM Share Price ** NYSE (2019-05-15) in USD $31.96
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.37x
United States of America Market PE Ratio Median Figure of 3,087 Publicly-Listed Companies 17.79x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Iron Mountain.

NYSE:IRM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:IRM Share Price ÷ EPS (both in USD)

= 31.96 ÷ 1.26

25.4x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Iron Mountain is good value based on earnings compared to the US REITs industry average.
  • Iron Mountain is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Iron Mountain's expected growth come at a high price?
Raw Data
NYSE:IRM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 25.4x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
14.6%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 1.91x
United States of America Market PEG Ratio Median Figure of 2,113 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

NYSE:IRM PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 25.4x ÷ 14.6%

1.74x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Iron Mountain is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Iron Mountain's assets?
Raw Data
NYSE:IRM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $6.13
NYSE:IRM Share Price * NYSE (2019-05-15) in USD $31.96
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.86x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
NYSE:IRM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:IRM Share Price ÷ Book Value per Share (both in USD)

= 31.96 ÷ 6.13

5.21x

* Primary Listing of Iron Mountain.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Iron Mountain is overvalued based on assets compared to the US REITs industry average.
X
Value checks
We assess Iron Mountain's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Iron Mountain has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Iron Mountain expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
14.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Iron Mountain expected to grow at an attractive rate?
  • Iron Mountain's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Iron Mountain's earnings growth is expected to exceed the United States of America market average.
  • Iron Mountain's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:IRM Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:IRM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 14.6%
NYSE:IRM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 3.3%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.2%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:IRM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:IRM Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 4,905 527 1
2022-12-31 4,742 485 1
2021-12-31 4,607 445 2
2020-12-31 4,457 994 336 9
2019-12-31 4,297 850 269 9
NYSE:IRM Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 4,237 961 360
2018-12-31 4,226 936 376
2018-09-30 4,156 827 243
2018-06-30 4,060 795 190
2018-03-31 3,949 691 177
2017-12-31 3,846 721 190
2017-09-30 3,789 640 214
2017-06-30 3,766 657 193
2017-03-31 3,700 585 97
2016-12-31 3,511 544 101
2016-09-30 3,330 644 58
2016-06-30 3,133 569 76

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Iron Mountain's earnings are expected to grow by 14.6% yearly, however this is not considered high growth (20% yearly).
  • Iron Mountain's revenue is expected to grow by 3.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:IRM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below

All data from Iron Mountain Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:IRM Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 1.71 1.71 1.71 1.00
2022-12-31 1.60 1.60 1.60 1.00
2021-12-31 1.49 1.49 1.49 1.00
2020-12-31 1.17 1.38 0.93 7.00
2019-12-31 0.91 1.05 0.75 7.00
NYSE:IRM Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.26
2018-12-31 1.31
2018-09-30 0.86
2018-06-30 0.69
2018-03-31 0.65
2017-12-31 0.71
2017-09-30 0.81
2017-06-30 0.73
2017-03-31 0.37
2016-12-31 0.41
2016-09-30 0.25
2016-06-30 0.35

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Iron Mountain will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Iron Mountain's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Iron Mountain has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Iron Mountain performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Iron Mountain's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Iron Mountain's year on year earnings growth rate has been positive over the past 5 years.
  • Iron Mountain's 1-year earnings growth exceeds its 5-year average (103.7% vs 1.5%)
  • Iron Mountain's earnings growth has exceeded the US REITs industry average in the past year (103.7% vs 16%).
Earnings and Revenue History
Iron Mountain's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Iron Mountain Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:IRM Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 4,237.17 360.22 1,013.63
2018-12-31 4,225.76 375.78 995.94
2018-09-30 4,155.51 243.25 987.49
2018-06-30 4,060.18 189.90 962.78
2018-03-31 3,949.16 176.80 944.09
2017-12-31 3,845.58 190.11 920.56
2017-09-30 3,788.54 213.73 906.03
2017-06-30 3,765.70 193.37 901.73
2017-03-31 3,699.64 97.16 906.09
2016-12-31 3,511.45 101.47 868.35
2016-09-30 3,329.69 57.96 822.89
2016-06-30 3,133.39 76.03 791.78
2016-03-31 3,009.38 144.92 775.10
2015-12-31 3,007.98 123.24 787.78
2015-09-30 3,033.53 129.56 820.99
2015-06-30 3,069.70 106.51 845.38
2015-03-31 3,096.85 325.15 848.96
2014-12-31 3,117.69 326.33 867.33
2014-09-30 3,107.92 362.05 875.77
2014-06-30 3,080.54 366.41 884.64
2014-03-31 3,047.72 120.71 895.36
2013-12-31 3,024.62 95.63 904.03
2013-09-30 3,014.88 74.46 901.29
2013-06-30 3,007.69 122.81 880.58
2013-03-31 3,005.79 137.13 859.56
2012-12-31 3,003.96 179.58 850.37
2012-09-30 2,988.63 199.24 808.12
2012-06-30 3,008.81 196.27 812.62

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Iron Mountain has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Iron Mountain used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
  • Iron Mountain's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Iron Mountain's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Iron Mountain has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Iron Mountain's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Iron Mountain's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Iron Mountain's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Iron Mountain's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Iron Mountain's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Iron Mountain Company Filings, last reported 1 month ago.

NYSE:IRM Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,833.84 10,353.82 161.48
2018-12-31 1,956.12 8,143.80 165.49
2018-09-30 2,033.62 8,230.87 197.68
2018-06-30 2,152.79 8,085.58 188.19
2018-03-31 2,354.15 8,158.26 442.49
2017-12-31 2,390.26 7,043.27 925.70
2017-09-30 1,936.07 6,880.48 349.14
2017-06-30 1,925.38 6,452.25 291.28
2017-03-31 1,971.08 6,343.98 296.01
2016-12-31 1,991.37 6,251.18 236.48
2016-09-30 2,150.25 6,459.23 458.13
2016-06-30 2,246.03 6,215.57 236.99
2016-03-31 521.14 5,021.27 117.95
2015-12-31 528.61 4,845.68 128.38
2015-09-30 619.78 5,174.29 492.90
2015-06-30 722.23 4,789.15 117.10
2015-03-31 756.50 4,721.84 119.61
2014-12-31 869.96 4,616.45 125.93
2014-09-30 467.66 4,392.49 183.99
2014-06-30 1,297.15 4,354.55 145.34
2014-03-31 1,051.17 4,343.69 169.91
2013-12-31 1,051.73 4,171.72 120.53
2013-09-30 1,072.17 4,025.33 172.03
2013-06-30 1,093.54 3,938.70 258.87
2013-03-31 1,128.08 3,849.71 230.00
2012-12-31 1,162.45 3,825.00 254.49
2012-09-30 1,299.13 3,739.43 334.58
2012-06-30 1,250.32 3,492.99 170.23
  • Iron Mountain's level of debt (564.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (412.2% vs 564.6% today).
  • Debt is not well covered by operating cash flow (9.3%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.9x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Iron Mountain's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Iron Mountain has a total score of 0/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
7.65%
Current annual income from Iron Mountain dividends. Estimated to be 7.81% next year.
If you bought $2,000 of Iron Mountain shares you are expected to receive $153 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Iron Mountain's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • Iron Mountain's dividend is above the markets top 25% of dividend payers in United States of America (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:IRM Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1997 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:IRM Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 2.86 1.00
2022-12-31 2.75 1.00
2021-12-31 2.59 2.00
2020-12-31 2.51 9.00
2019-12-31 2.39 9.00
NYSE:IRM Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-07 2.444 7.060
2018-10-25 2.444 7.256
2018-07-24 2.350 6.775
2018-05-24 2.350 6.763
2018-02-15 2.350 7.146
2017-10-24 2.350 6.239
2017-07-27 2.200 5.686
2017-05-24 2.200 6.378
2017-04-27 2.202 6.303
2017-02-16 2.200 6.179
2016-10-31 2.200 6.512
2016-07-27 1.940 5.292
2016-06-28 1.942 4.834
2016-04-28 1.941 5.202
2016-04-15 1.941 5.503
2016-02-18 1.940 6.147
2015-11-02 1.940 7.081
2015-10-30 1.940 6.215
2015-08-27 1.900 6.316
2015-07-30 1.901 6.490
2015-05-28 1.900 5.943
2015-04-30 1.899 5.282
2015-04-28 1.899 5.321
2015-02-19 1.900 5.140
2014-11-17 1.900 4.864
2014-09-15 1.900 5.480
2014-05-28 1.080 3.198
2014-03-14 1.080 3.862
2013-12-16 1.080 3.850
2013-09-11 1.080 3.954
2013-06-06 1.080 3.916
2013-03-14 1.080 2.920
2012-12-14 1.080 3.212
2012-09-06 1.080 3.237
2012-06-05 1.080 3.327
2012-03-08 1.000 3.401
2011-12-01 1.000 3.261
2011-09-09 1.000 3.230
2011-06-13 1.000 3.075
2011-03-15 0.750 2.336
2010-12-13 0.750 2.940
2010-09-15 0.250 1.133
2010-06-04 0.250 1.099
2010-02-25 0.250 0.964

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Iron Mountain has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Iron Mountain only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Iron Mountain's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (317.5x coverage).
X
Income/ dividend checks
We assess Iron Mountain's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Iron Mountain afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Iron Mountain has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Iron Mountain's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bill Meaney
COMPENSATION $11,287,272
AGE 58
TENURE AS CEO 6.3 years
CEO Bio

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, MA). Mr. Meaney provides State Street’s Board with an acute global viewpoint on corporate strategy and business expansion founded upon his background in leading and developing large U.S. and international companies. He has been the Chief Executive Officer and President of Iron Mountain Incorporated since January 7, 2013. Mr. Meaney serves as the Chief Executive Officer and President of Iron Mountain Ireland Ltd. Mr. Meaney serves as the Chief Executive Officer and President of Iron Mountain Canada Operations ULC. He serves as the President and Chief Executive Officer of Iron Mountain Information Management, LLC. He s continued to lead and volves and expands its secure storage and digital transformation offerings. Mr. Meaney has extensive domestic and international business experience across both established and emerging markets. He has over 20 years’ experience in a professional management capacity and a proven track record for successfully building companies in an international career spanning the United States, Africa, Europe and Asia. He is the Founder of Genhro Management Consultancy and served as its Managing Director. He served as the Chief Executive Officer at The Zuellig Group, Inc. from August 2004 to March 14, 2012, where he was responsible for a diverse portfolio of Asia Pacific businesses that spanned a variety of heavily regulated and consumer based industries, including health care, agriculture, pharmaceuticals and materials handling. He served as the Chief Commercial Officer and Managing Director of Commerce at Swiss International Air Lines AG (Alternate Name: Swiss International Air lines Ltd.) from December 2002 to January 2004. He served as an Executive Vice President at South African Airways in Johannesburg from 1998 to 2001, an Acting Chief Executive Officer of South African Vaccine Producers (a parastatal pharmaceutical manufacturer based in Johannesburg) and Chief Executive Officer of Star Alliance. He has held several senior positions throughout the airline industry, including served as an Operations Officer with the U.S. Central Intelligence Agency. He served as a Consultant and Principal of Strategic Planning Associates. His first career was as a CIA operations officer. He was an Independent Non-Executive Director of Qantas Airways Limited from February 15, 2012 to June 29, 2018. Mr. Meaney also serves on the New York Advisory Board of FM Global. He has been a Director of Iron Mountain Incorporated since January 07, 2013. He serves as a Director of Iron Mountain Canada Operations ULC, Iron Mountain Ireland Ltd. and British Swiss Chamber of Commerce. Mr. Meaney is a member of both the FM Global advisory board and President’s Council of Massachusetts General Hospital. Mr. Meaney served on the board of trustees of Carnegie Mellon University until June 2017 and on the board of trustees of Rensselaer Polytechnic Institute until April 2018. He is a Member of the Asia Business Council. He served as a Director of moksha8 Pharmaceuticals, Inc. Mr. Meaney has a Bachelor of Science Degree in Mechanical Engineering from Rensselaer Polytechnic Institute in Troy, New York and a Master of Business Administration (MBA) degree and Masters of Science in Industrial Administration from Carnegie Mellon University.

CEO Compensation
  • Bill's compensation has been consistent with company performance over the past year.
  • Bill's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Iron Mountain management team in years:

2.4
Average Tenure
53.5
Average Age
  • The tenure for the Iron Mountain management team is about average.
Management Team

Bill Meaney

TITLE
President
COMPENSATION
$11M
AGE
58
TENURE
6.3 yrs

Stuart Brown

TITLE
Executive VP & CFO
COMPENSATION
$3M
AGE
52
TENURE
2.8 yrs

Fidelma Russo

TITLE
CTO & Executive VP
COMPENSATION
$2M
AGE
55
TENURE
2.2 yrs

Ernest Cloutier

TITLE
Executive VP & GM of International
COMPENSATION
$3M
AGE
45
TENURE
4.9 yrs

Patrick Keddy

TITLE
Executive VP & General Manager of North America & Western Europe
COMPENSATION
$3M
AGE
63
TENURE
4.1 yrs

JT Tomovcsik

TITLE
Executive VP & Chief Operating Officer
COMPENSATION
$1M
AGE
50
TENURE
1.3 yrs

Daniel Borges

TITLE
Chief Accounting Officer & Senior VP
AGE
49
TENURE
1.6 yrs

Greer Aviv

TITLE
Senior Vice President of Investor Relations
TENURE
0.6 yrs

Deborah Marson

TITLE
Executive VP
AGE
64
TENURE
2.4 yrs

Christian Potts

TITLE
Senior Manager of Corporate Communications
Board of Directors Tenure

Average tenure and age of the Iron Mountain board of directors in years:

7.1
Average Tenure
63
Average Age
  • The tenure for the Iron Mountain board of directors is about average.
Board of Directors

Alfred Verrecchia

TITLE
Independent Chairman
COMPENSATION
$377K
AGE
75
TENURE
6.2 yrs

Bill Meaney

TITLE
President
COMPENSATION
$11M
AGE
58
TENURE
6.3 yrs

Clarke Bailey

TITLE
Director
COMPENSATION
$272K
AGE
64
TENURE
21.3 yrs

Kent Dauten

TITLE
Independent Director
COMPENSATION
$275K
AGE
62
TENURE
21.5 yrs

Walt Rakowich

TITLE
Director
COMPENSATION
$268K
AGE
60
TENURE
5.8 yrs

Pamela Arway

TITLE
Director
COMPENSATION
$279K
AGE
64
TENURE
5 yrs

Kris Halvorsen

TITLE
Director
COMPENSATION
$252K
AGE
67
TENURE
9.7 yrs

Paul Deninger

TITLE
Director
COMPENSATION
$257K
AGE
59
TENURE
8.7 yrs

Ted Antenucci

TITLE
Director
COMPENSATION
$253K
AGE
54
TENURE
7.9 yrs

Jennifer Allerton

TITLE
Director
COMPENSATION
$253K
AGE
67
TENURE
4.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
20. Dec 18 Sell Jennifer Allerton Individual 18. Dec 18 18. Dec 18 -3,000 $33.75 $-101,250
X
Management checks
We assess Iron Mountain's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Iron Mountain has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Is Iron Mountain Incorporated's (NYSE:IRM) ROE Of 8.8% Sustainable?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … Our data shows Iron Mountain has a return on equity of 8.8% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

What You Must Know About Iron Mountain Incorporated's (NYSE:IRM) 7.58% ROE

and want to begin learning the link between Iron Mountain Incorporated (NYSE:IRM)’s return fundamentals and stock market performance. … Iron Mountain Incorporated (NYSE:IRM) performed in line with its specialized reits industry on the basis of its ROE – producing a return of 7.58% relative to the peer average of 7.63% over the past 12 months. … But what is more interesting is whether IRM can sustain or improve on this level of return

Simply Wall St -

5 Days Left Before Iron Mountain Incorporated (NYSE:IRM) Will Start Trading Ex-Dividend, Should You Buy?

Have you been keeping an eye on Iron Mountain Incorporated's (NYSE:IRM) upcoming dividend of $0.59 per share payable on the 02 July 2018? … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I take a deeper dive into Iron Mountain's latest financial data to analyse its dividend attributes. … Whenever I am looking at a potential dividend stock investment, I always check these five metrics:

Simply Wall St -

How Should You Analyze REIT Stock Iron Mountain Incorporated (NYSE:IRM)?

Next, interest coverage ratio shows how many times IRM’s earnings can cover its annual interest payments. … Instead of the P/E ratio, P/FFO is used instead, which is very common for REIT stocks. … Take a look at our free research report of analyst consensus for IRM’s outlook.

Simply Wall St -

Did Iron Mountain Incorporated (NYSE:IRM) Create Value For Investors Over The Past Year?

View our latest analysis for Iron Mountain What you must know about ROE Firstly, Return on Equity, or ROE, is simply the percentage of last years’ earning against the book value of shareholders’ equity. … Return on Equity = Net Profit ÷ Shareholders Equity ROE is measured against cost of equity in order to determine the efficiency of Iron Mountain’s equity capital deployed. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity NYSE:IRM Last Perf May 17th 18 Basically, profit margin measures how much of revenue trickles down into earnings which illustrates how efficient the business is with its cost management.

Simply Wall St -

Should You Be Concerned About Iron Mountain Incorporated's (NYSE:IRM) Shareholders?

Insider Ownership Another important group of shareholders are company insiders. … General Public Ownership With 8.13% ownership, the general public are also an important ownership class in IRM. … Next Steps: The company's high institutional ownership makes margin of safety a very important consideration to existing investors since long bull and bear trends often emerge when these big-ticket investors see a change in long-term potential of the company.

Simply Wall St -

Iron Mountain Incorporated (NYSE:IRM): Is Real Estate Attractive?

Iron Mountain Incorporated (NYSE:IRM), a US$9.85B mid-cap, operates in the real estate industry which is the most prevalent industry in the global economy, and as an asset class, it has continued to play a crucial role in the portfolios of various investors. … Today, I will analyse the industry outlook, and also determine whether Iron Mountain is a laggard or leader relative to its real estate sector peers. … See our latest analysis for Iron Mountain What’s the catalyst for Iron Mountain's sector growth?

Simply Wall St -

How Does Iron Mountain Incorporated (NYSE:IRM) Affect Your Portfolio Returns?

IRM's beta implies it may be a stock that investors with high-beta portfolios might find relevant if they wanted to reduce their exposure to market risk, especially during times of downturns. … Therefore, this is a type of risk which is associated with higher beta. … IRM's fixed assets to total assets ratio of higher than 30% shows that the company uses up a big chunk of its capital on assets that are hard to scale up or down in short notice.

Simply Wall St -

Why You Should Not Buy Iron Mountain Incorporated (NYSE:IRM) For Dividend

Iron Mountain Incorporated (NYSE:IRM) has returned to shareholders over the past 8 years, an average dividend yield of 5.00% annually. … Does Iron Mountain tick all the boxes of a great dividend stock? … View our latest analysis for Iron Mountain 5 checks you should do on a dividend stock Whenever I am looking at a potential dividend stock investment, I always check these five metrics: Does it pay an annual yield higher than 75% of dividend payers?

Simply Wall St -

Should You Buy Iron Mountain Incorporated (NYSE:IRM) Now?

Let’s take a look at Iron Mountain’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. … Great news for investors – Iron Mountain is still trading at a fairly cheap price. … Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price.

Simply Wall St -

Company Info

Description

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 1,450 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 information management, digital transformation, secure storage, 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.

Details
Name: Iron Mountain Incorporated
IRM
Exchange: NYSE
Founded: 1951
$9,168,705,286
286,880,641
Website: http://www.ironmountain.com
Address: Iron Mountain Incorporated
One Federal Street,
Boston,
Massachusetts, 02110,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE IRM Common Stock New York Stock Exchange US USD 01. Jul 1997
DB I5M Common Stock Deutsche Boerse AG DE EUR 01. Jul 1997
LSE 0JDP Common Stock London Stock Exchange GB USD 01. Jul 1997
Number of employees
Current staff
Staff numbers
26,200
Iron Mountain employees.
Industry
Specialized REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/16 01:24
End of day share price update: 2019/05/15 00:00
Last estimates confirmation: 2019/05/14
Last earnings filing: 2019/04/25
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.