(IRM) Iron Mountain - Overview

Sector: Real Estate | Industry: REIT - Specialty | Exchange: NYSE (USA) | Market Cap: 38.158m USD | Total Return: 34.5% in 12m

Records Storage, Data Centers, Document Imaging, Asset Disposal
Total Rating 47
Safety 50
Buy Signal 1.05
REIT - Specialty
Industry Rotation: -2.5
Market Cap: 38.2B
Avg Turnover: 155M
Risk 3d forecast
Volatility28.9%
VaR 5th Pctl5.06%
VaR vs Median6.56%
Reward TTM
Sharpe Ratio0.97
Rel. Str. IBD81.7
Rel. Str. Peer Group79.2
Character TTM
Beta0.897
Beta Downside0.757
Hurst Exponent0.560
Drawdowns 3y
Max DD39.03%
CAGR/Max DD0.98
CAGR/Mean DD3.29
EPS (Earnings per Share) EPS (Earnings per Share) of IRM over the last years for every Quarter: "2021-06": 0.38, "2021-09": 0.4, "2021-12": 0.43, "2022-03": 0.38, "2022-06": 0.46, "2022-09": 0.48, "2022-12": 0.43, "2023-03": 0.42, "2023-06": 0.4, "2023-09": 0.45, "2023-12": 0.52, "2024-03": 0.43, "2024-06": 0.42, "2024-09": 0.44, "2024-12": 0.5, "2025-03": 0.05, "2025-06": 0.48, "2025-09": 0.54, "2025-12": 0.61, "2026-03": 0.6,
EPS CAGR: -0.03%
EPS Trend: -0.2%
Last SUE: 1.05
Qual. Beats: 1
Revenue Revenue of IRM over the last years for every Quarter: 2021-06: 1119.756, 2021-09: 1130.148, 2021-12: 1159.587, 2022-03: 1248.046, 2022-06: 1289.534, 2022-09: 1286.945, 2022-12: 1279.049, 2023-03: 1314.349, 2023-06: 1357.936, 2023-09: 1388.175, 2023-12: 1419.829, 2024-03: 1476.863, 2024-06: 1534.409, 2024-09: 1557.358, 2024-12: 1581.279, 2025-03: 1592.529, 2025-06: 1711.948, 2025-09: 1754.093, 2025-12: 1843.167, 2026-03: 1936.149,
Rev. CAGR: 12.05%
Rev. Trend: 99.6%
Last SUE: 3.67
Qual. Beats: 2

Warnings

P/E ratio 139.4

High Debt/EBITDA (9.4) with thin interest coverage (1.5)

High Debt while negative Cash Flow

Altman Z'' -0.01 < 1.0 - financial distress zone

Tailwinds

Supp Ema20, Confidence

Description: IRM Iron Mountain

Iron Mountain Incorporated (IRM) is a global provider of information management and digital transformation services, operating as a Real Estate Investment Trust (REIT) since 2014. The company serves over 240,000 customers across 61 countries, including a significant majority of the Fortune 1000. Its service portfolio encompasses physical storage, data center operations, information security, and asset lifecycle management.

As a specialized REIT, Iron Mountain generates revenue primarily through storage rental fees and service charges, benefiting from high customer retention rates due to the logistical complexity of switching providers. Unlike traditional office or retail REITs, the company’s business model relies on the physical density of stored records and the increasing demand for secure colocation data centers. You can further analyze these structural advantages and valuation metrics on ValueRay.

Founded in 1951 and headquartered in Delaware, the firm is a constituent of the S&P 500 and various global REIT indices. It maintains a diverse client base spanning the healthcare, legal, financial, and government sectors, positioning itself as a bridge between physical document archiving and modern digital infrastructure.

Headlines to Watch Out For
  • Data center capacity expansion accelerates recurring revenue growth and valuation multiples
  • Asset lifecycle management segment captures rising enterprise demand for hardware disposal
  • Physical storage volume decline necessitates aggressive pricing increases to maintain margins
  • Interest rate fluctuations impact financing costs for capital intensive real estate development
  • Digital transformation services adoption shifts revenue mix toward high margin technology solutions
Piotroski VR-10 (Strict) 2.0
Net Income: 272.3m TTM > 0 and > 6% of Revenue
FCF/TA: -0.04 > 0.02 and ΔFCF/TA 0.66 > 1.0
NWC/Revenue: 20.62% < 20% (prev -17.41%; Δ 38.03% < -1%)
CFO/TA 0.07 > 3% & CFO 1.48b > Net Income 272.3m
Net Debt (21.7b) to EBITDA (2.32b): 9.37 < 3
Current Ratio: 3.72 > 1.5 & < 3
Outstanding Shares: last quarter (298.8m) vs 12m ago 0.53% < -2%
Gross Margin: 55.02% > 18% (prev 56.05%; Δ -1.04% > 0.5%)
Asset Turnover: 35.47% > 50% (prev 32.36%; Δ 3.11% > 0%)
Interest Coverage Ratio: 1.46 > 6 (EBIT TTM 1.29b / Interest Expense TTM 886.2m)
Altman Z'' -0.01
A: 0.07 (Total Current Assets 2.04b - Total Current Liabilities 548.9m) / Total Assets 21.5b
B: -0.26 (Retained Earnings -5.53b / Total Assets 21.5b)
C: 0.06 (EBIT TTM 1.29b / Avg Total Assets 20.4b)
D: -0.05 (Book Value of Equity -1.22b / Total Liabilities 22.4b)
Altman-Z'' = -0.01 = B
Beneish M -3.38
DSRI: 0.94 (Receivables 1.42b/1.31b, Revenue 7.25b/6.27b)
GMI: 1.02 (GM 56.05% / 55.02%)
AQI: 0.28 (AQ_t 0.10 / AQ_t-1 0.36)
SGI: 1.16 (Revenue 7.25b / 6.27b)
TATA: -0.06 (NI 272.3m - CFO 1.48b) / TA 21.5b)
Beneish M = -3.38 (Cap -4..+1) = AA
What is the price of IRM shares?

As of June 05, 2026, the stock is trading at USD 130.25 with a total of 727,930 shares traded.
Over the past week, the price has changed by +2.70%, over one month by +1.58%, over three months by +21.77% and over the past year by +34.53%.

Is IRM a buy, sell or hold?

Iron Mountain has received a consensus analysts rating of 4.10. Therefore, it is recommended to buy IRM.

  • StrongBuy: 4
  • Buy: 5
  • Hold: 0
  • Sell: 0
  • StrongSell: 1

What are the forecasts/targets for the IRM price?
Analysts Target Price 131.6 1%
Iron Mountain (IRM) - Fundamental Data Overview as of 01 June 2026
Market Cap USD = 38.2b (38.2b USD * 1.0 USD.USD)
P/E Trailing = 139.4022
P/E Forward = 64.1026
P/S = 5.2665
P/B = 1516.5122
P/EG = 2.701
Revenue TTM = 7.25b USD
EBIT TTM = 1.29b USD
EBITDA TTM = 2.32b USD
Long Term Debt = 16.9b USD (from longTermDebt, last quarter)
Short Term Debt = 548.9m USD (from shortTermDebt, last quarter)
Debt = 22.0b USD (from shortLongTermDebtTotal, last quarter) + Leases 2.28b
Net Debt = 21.7b USD (calculated: Debt 22.0b - CCE 250.7m)
Enterprise Value = 59.9b USD (38.2b + Debt 22.0b - CCE 250.7m)
Interest Coverage Ratio = 1.46 (Ebit TTM 1.29b / Interest Expense TTM 886.2m)
EV/FCF = -65.59x (Enterprise Value 59.9b / FCF TTM -913.4m)
FCF Yield = -1.52% (FCF TTM -913.4m / Enterprise Value 59.9b)
FCF Margin = -12.61% (FCF TTM -913.4m / Revenue TTM 7.25b)
Net Margin = 3.76% (Net Income TTM 272.3m / Revenue TTM 7.25b)
Gross Margin = 55.02% ((Revenue TTM 7.25b - Cost of Revenue TTM 3.26b) / Revenue TTM)
Gross Margin QoQ = 54.04% (prev 55.38%)
Tobins Q-Ratio = 2.79 (Enterprise Value 59.9b / Total Assets 21.5b)
Interest Expense / Debt = 4.03% (Interest Expense 886.2m / Debt 22.0b)
Taxrate = 19.99% (71.2m / 356.2m)
NOPAT = 1.04b (EBIT 1.29b * (1 - 19.99%))
Current Ratio = 1.53 (Total Current Assets 2.04b / Total Current Liabilities 1.33b)
 Debt / Equity = -18.11 (negative equity) (Debt 22.0b / totalStockholderEquity, last quarter -1.22b)
 Debt / EBITDA = 9.37 (Net Debt 21.7b / EBITDA 2.32b)
 Debt / FCF = -23.81 (negative FCF - burning cash) (Net Debt 21.7b / FCF TTM -913.4m)
 Total Stockholder Equity = -961.4m (last 4 quarters mean from totalStockholderEquity)
RoA = 1.33% (Net Income 272.3m / Total Assets 21.5b)
 RoE = -28.33% (negative equity) (Net Income TTM 272.3m / Total Stockholder Equity -961.4m)
 RoCE = 8.13% (EBIT 1.29b / Capital Employed (Equity -961.4m + L.T.Debt 16.9b))
RoIC = 4.88% (NOPAT 1.04b / Invested Capital 21.2b)
WACC = 6.98% (E(38.2b)/V(60.2b) * Re(9.14%) + D(22.0b)/V(60.2b) * Rd(4.03%) * (1-Tc(0.20)))
Discount Rate = 9.14% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 73.33 | Cagr: 0.57%
 [DCF] Fair Price = unknown (Cash Flow -913.4m)
 EPS Correlation: -0.23 | EPS CAGR: -0.03% | SUE: 1.05 | # QB: 1
Revenue Correlation: 99.63 | Revenue CAGR: 12.05% | SUE: 3.67 | # QB: 2
EPS current Quarter (2026-06-30): EPS=0.56 | Chg30d=+0.83% | Revisions=+0% | Analysts=6
EPS next Quarter (2026-09-30): EPS=0.62 | Chg30d=+3.84% | Revisions=+56% | Analysts=6
EPS current Year (2026-12-31): EPS=2.43 | Chg30d=+5.13% | Revisions=+60% | GrowthEPS=+14.8% | GrowthRev=+14.7%
EPS next Year (2027-12-31): EPS=2.67 | Chg30d=+4.39% | Revisions=+60% | GrowthEPS=+9.9% | GrowthRev=+8.8%
[Analyst] Revisions Ratio: +60%