IRM
Iron Mountain
$122.14
▲ 0.1%Updated Aug 7, 11:30 AM ET
IRM at a glance — five pillars scored 0–100 from real filed financials.
Overall: Neutral · 44/100. A wider, greener shape means more pillars look healthy. Dividends scores 0 when a company pays none — that is a choice, not a flaw.
▲ Up 24.5% over the last 12 months
Market Cap
$34.86B
P/E
133.13x
Forward P/E (est.)
95.09x
ROE
85.2%
Revenue Growth
15.6%
EPS Growth
122.2%
Profit Margin
3.8%
FCF Yield
2.8%
Debt / Equity
56.38x
ROIC
6.0%
Interest Coverage
4.46x
Current Ratio
0.77x
Dividend Yield
2.7%
Implied Growth (rev. DCF)
—
Rating Score
44/100
Iron Mountain (IRM) is a large-cap company in the Other Specialized REITs industry, part of the Real Estate sector of the S&P 500, with a market value around $34.86B.
In its latest reported year it generated about $6.90B in revenue.
Our model rates IRM Neutral (44/100) on growth, profitability, financial health, and valuation. The summary below is built from its filed financials and current ratios and refreshes automatically.
Evidence of durable competitive advantage in the filed financials (10 years of history).
The numbers don't show a durable competitive advantage — margins, growth, or returns on capital have been unstable or thin. Great returns are still possible; they just aren't protected.
16.7% average over the last 3 years
±13.0 pts around 24.3% across 10 years
grew in 7 of the last 9 year-over-year periods
positive in 7 of 10 years
6.0% latest fiscal year
A moat can't be proven by numbers alone — this scores the evidence a durable advantage leaves behind (pricing power, consistency, returns on capital), computed the same way for every stock. Pair it with the business overview before concluding anything.
Technical analysis reads price and volume to judge momentum and timing. It complements the fundamentals above — it does not replace them. Here is what IRM's chart says today, with each tool explained.
Trend — moving averages. A moving average is the average closing price over a window, which smooths out daily noise. IRM trades near $122.14, around its 50-day average ($125.76) and 200-day average ($105.05). Price tangled in its moving averages means there is no clear trend — the stock is ranging.
Momentum — RSI. The Relative Strength Index runs 0–100 and measures how strong recent gains are versus losses. Above 70 is "overbought", below 30 "oversold". At 39 it is in neutral territory — neither stretched nor washed out.
MACD. MACD compares two moving averages to flag shifts in momentum. Its histogram is currently negative — short-term momentum is fading.
Volatility — ATR. Average True Range is the typical daily move. IRM's is $4.51 (~3.7% of price), so swings of about that size each day are normal — handy for setting a stop that isn't too tight.
Support & resistance. Over the last month IRM found buyers near $115.68 (support) and sellers near $134.68 (resistance); its 52-week range is $77.77–$134.68. A decisive break beyond either edge often marks the next move.
Volume. The latest session traded 1.8× the 20-day average — heavier than usual, which adds conviction to the move. Rising volume on up-days suggests real buying; on down-days, real selling.
Educational information to help you read a chart — not a recommendation or a forecast. It updates daily as the price and indicators change.
4Y CAGR
11.3%
Revenue moved from $3.51B in 2016 to $6.90B in 2025, a 7.8% compound annual growth rate. The most recent year grew a strong 15.6% year over year. Consistent top-line growth is one sign of healthy demand.
Gross Margin
65.0%
Operating Margin
16.9%
Net Margin
3.8%
ROE
85.2%
Iron Mountain keeps about 3.8% of each sales dollar as net profit, with a 65.0% gross margin and 16.9% operating margin. Return on equity is 85.2% and return on invested capital about 6.0%. Thin margins leave less cushion if costs rise.
Total Debt
$17.10B
Net Debt
$16.85B
Net Debt / EBITDA
14.48x
Debt / Equity
56.38x
Leverage: debt-to-equity is 56.4x, and operating profit covers interest about 4.5x, with a current ratio of 0.8x. That is elevated leverage, which raises risk if earnings or rates move against it. It carries roughly $17.10B of total debt against $250.71M of cash.
Operating CF
$1.34B
Free Cash Flow
-$931.63M
FCF Margin
-13.5%
In the latest year Iron Mountain produced about $1.34B of operating cash flow but negative free cash flow as it invested heavily. That is a free-cash-flow yield of about 2.8% on today's price. Cash flow is what ultimately pays shareholders, so it is worth tracking over time.
Can the payout survive a bad year? Scored from filed cash flow, earnings coverage, and the raise/cut record.
Coverage is weak, the payout was cut recently, or it's being financed rather than earned — treat the current yield as fragile.
Dividend yield
2.7%
Per share (latest FY)
$3.22
Total paid (latest FY)
$919.39M
History on record
10 years
free cash flow was negative in the latest year — the dividend is being financed
total dividends increased 8 years in a row
payout was cut at least once in the last 10 years
Coverage uses the latest fiscal year as filed with the SEC; the streak counts total dollars paid (per-share figures can carry split artifacts). Educational information, not income advice.
P/E
133.13x
P/S
5.51x
P/B
91.97x
EV / EBITDA
—
IRM trades at 133.1x trailing earnings (about 95.1x on estimated forward earnings), 5.5x sales, and 92.0x book value. That is a rich multiple that prices in a lot of future growth.
Where IRM sits versus its Real Estate sector peers in the S&P 500.
Bands show the middle half (25th–75th percentile) of the 33 Real Estate companies in the S&P 500 — the peer-relative anchor professional comps analysis uses. Context only — not investment advice.
How IRM stacks up against its Real Estate peers — valuation, profitability, and growth versus the sector median.
In the Real Estate sector (41 S&P 500 companies), IRM ranks #23 of 41 by our overall rating. It trades at a premium versus the sector on earnings (133.1x P/E vs. 32.4x median) with a higher return on equity (85.2% vs. 8.0%) and faster revenue growth (15.6% vs. 5.3%).
P/E vs sector
133.1x
median 32.4x
ROE vs sector
85.2%
median 8.0%
Growth vs sector
15.6%
median 5.3%
Sector rank
#23
of 41 by rating
Valuation vs. quality map
The sweet spot is upper-left: more profitable (higher ROE) for a lower P/E. Dashed lines mark the sector median.
Peers are the closest Real Estate companies by sub-industry and size. Sector median is across all 41 S&P 500 names in the sector. Educational, not a recommendation.
Project revenue → earnings → price. Edit the assumptions to build your own case.
2030 price target (Base Case)
$0.00 – $0.00
vs. $122.14 today · expected CAGR 6% – 17%
| Metric | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|
| Revenue | $8.01B | $9.29B | $10.77B | $12.50B | $14.50B |
| Net income | $320.24M | $371.48M | $430.92M | $499.86M | $579.84M |
| EPS | $1.12 | $1.30 | $1.51 | $1.75 | $2.03 |
| Share price (low) | $89.77 | $104.13 | $120.79 | $140.12 | $162.54 |
| Share price (high) | $149.24 | $173.12 | $200.82 | $232.95 | $270.22 |
| CAGR (low–high) | -27% / 22% | -8% / 19% | -0% / 18% | 3% / 18% | 6% / 17% |
Educational model on sample fundamentals — not a forecast or investment advice. Outputs are only as good as your assumptions.
The case for IRM:
- Revenue is growing 15.6% a year, a sign of real demand.
- Strong return on equity (85.2%) shows capital is put to work well.
- Pays a 2.7% dividend on top of any price gains.
The case against IRM:
- Thin net margins (3.8%) leave little room for error.
- Elevated leverage (debt/equity 56.4x) adds financial risk.
- A rich 133.1x earnings multiple prices in a lot of growth.
Valuation risk — at 133.1x earnings, disappointing results could compress the multiple.
Balance-sheet risk — debt/equity of 56.4x magnifies the impact of higher rates or weaker earnings.
Margin risk — thin profitability (3.8%) is vulnerable to cost or pricing pressure.
Market risk — sector rotation, the economic cycle, and broad sentiment move the stock regardless of fundamentals.
On balance, the picture is mixed: Iron Mountain is a large-cap real estate business still growing nicely, with modest profitability, and a heavier debt load to watch. It trades at 133.1x earnings, which our model scores Neutral (44/100). Weigh this against your own goals and time horizon — this is educational information, not a recommendation.
Analyst Ratings
What 16 Wall Street analysts covering IRM recommend (August 2026). Consensus is a useful sanity check — not a substitute for your own homework.
Latest SEC Filings
IRM's most recent filings, straight from SEC EDGAR. Annual and quarterly reports are the deep dives; 8-Ks flag material events the moment they happen.
IRM — frequently asked questions
Is IRM a good stock to buy?
We don't give buy or sell advice. Our model rates Iron Mountain Neutral (44/100) based on its growth, profitability, financial health, and valuation — use that as a research starting point and make your own decision.
What is IRM's rating on The Stocks School?
Iron Mountain currently scores 44/100 (Neutral) on our transparent model, which weighs real fundamentals: growth, margins, returns on capital, balance-sheet strength, and valuation.
How our ratings work →Where does IRM's data come from?
Live price data plus real fundamentals and 5-year financials pulled directly from Iron Mountain's SEC filings — refreshed automatically, not hand-entered.
How is the 5-year projection for IRM calculated?
It's a scenario model: it grows revenue at an assumed rate, applies a profit margin and a valuation multiple, and shows the resulting share-price range. The assumptions are yours to change — it's a tool for thinking, not a prediction.
Is this IRM analysis financial advice?
No. Everything on this page is educational research, not financial advice or a recommendation to buy or sell IRM. Always do your own research and consider a licensed professional.
Data notice. Fundamentals and financial statements are sourced from company filings (SEC EDGAR) and market-data providers; prices and market caps refresh on trading days and may be delayed. Ratings, projections, technical signals, and written summaries are model- or rule-generated for education and may simplify or lag the latest filings.
Not advice. Nothing on this page is investment advice or a recommendation to buy, hold, or sell any security. Do your own research and consult a licensed financial professional before investing.