Iron Mountain Inc
Exchange: NYSESector: Real EstateIndustry: REIT - Specialty
Iron Mountain Incorporated is trusted by more than 240,000 customers in 61 countries, including approximately 95% of the Fortune 1000, to help unlock value and intelligence from their assets through services that transcend the physical and digital worlds. Our broad range of solutions address their information management, digital transformation, information security, data center and asset lifecycle management needs. Our longstanding commitment to safety, security, sustainability and innovation in support of our customers underpins everything we do.
Did you know?
Carries 118.2x more debt than cash on its balance sheet.
Current Price
$106.97
+2.14%GoodMoat Value
$69.80
34.7% overvaluedProfile
Valuation (TTM)
Market Cap$31.62B
P/E218.68
EV$48.71B
P/B—
Shares Out295.59M
P/Sales4.58
Revenue$6.90B
EV/EBITDA24.02
Iron Mountain Inc (IRM) Stock Analysis
GoodMoat Analysis
Iron Mountain appears to have a potentially durable moat in physical data storage, but its current valuation is extremely high relative to its fundamentals and the platform's fair value estimate. The business model shows some quality, but the stock price presents a significant margin of safety in the wrong direction.
Read full analysis
Iron Mountain Inc operates as a specialized REIT providing physical and digital information management services, most notably secure storage for paper documents and data backup media. Applying the GoodMoat framework, the business likely scores well on Moat Identification criteria such as Switching Costs (mission-critical storage with high physical migration costs), Scale Privilege (a global network of secure facilities), and Niche Dominance in physical records management. However, the Quality Indicators present a mixed picture; while revenue growth is strong at 16.6% YoY and the operating margin is solid at 16.9%, the negative Free Cash Flow Yield of -3.1% and a sky-high P/E of over 205x based on minimal GAAP profitability (2.1% profit margin) are significant concerns. The Decision Framework analysis is clear. While the company may pass the initial Moat & Quality Gate, it fails the Valuation & Risk Gate decisively. The GoodMoat Target price of $69.80 implies the stock is trading at a premium of over 40% to its estimated fair value, which aligns with the 'Unfavourable' band in the framework. This extreme valuation, coupled with the high P/E and negative FCF yield, represents multiple High Confidence Red Flags. For a value investor, this suggests the company's durable business advantages are more than fully priced in, making further investigation from a traditional value perspective unfavourable at this level.
Market Cap$31.62B
Current Price$106.97
P/E Ratio218.68
Forward P/E—
PEG Ratio-15.31
EPS$0.49
Book Value$-3.32
P/B Ratio—
IRM Financial Charts
FCF vs CAPEX
FCFCAPEX
Cash vs Debt
Net Debt: 18.6B
Revenue
4.3B
FY19
4.1B
FY20
4.5B
FY21
5.1B
FY22
5.5B
FY23
6.1B
FY24
6.9B
FY25
Net Income
267M
FY19
343M
FY20
450M
FY21
557M
FY22
184M
FY23
180M
FY24
145M
FY25
IRM 52-Week Range
$78.23
$112.34
50-Day MA: $102.34200-Day MA: $95.28
Did you know?
Profit margin stands at 2.1%.
Iron Mountain Inc (IRM) Financial Summary
Iron Mountain Inc (IRM) is a Real Estate company in the REIT - Specialty industry, listed on NYSE. The stock currently trades at $106.97 with a market capitalization of $31.62B.
Key valuation metrics include a P/E ratio of 218.68, and EPS of $0.49. The company reports a profit margin of 2.1%.
IRM Key Financial Metrics
| Metric | Value |
|---|---|
| Market Cap | $31.62B |
| P/E Ratio | 218.68 |
| EPS | $0.49 |
| P/S Ratio | 4.58 |
| EV/EBITDA | 24.02 |
| Profit Margin | 2.1% |
IRM Revenue & Earnings History
| Year | Revenue | Net Income |
|---|---|---|
| FY19 | $4.26B | $267.38M |
| FY20 | $4.15B | $342.69M |
| FY21 | $4.49B | $450.22M |
| FY22 | $5.10B | $556.98M |
| FY23 | $5.48B | $184.23M |
| FY24 | $6.15B | $180.16M |
| FY25 | $6.90B | $144.59M |
Iron Mountain Inc (IRM) Valuation
Based on GoodMoat's DCF model, Iron Mountain Inc has a fair value estimate of $69.80. At the current price of $106.97, the stock appears 53.3% overvalued relative to our intrinsic value estimate.
IRM Quality Indicators
Iron Mountain Inc maintains a profit margin of 2.1% and an operating margin of 16.9%. The current ratio is 0.74.
About Iron Mountain Inc
Iron Mountain Incorporated is trusted by more than 240,000 customers in 61 countries, including approximately 95% of the Fortune 1000, to help unlock value and intelligence from their assets through services that transcend the physical and digital worlds. Our broad range of solutions address their information management, digital transformation, information security, data center and asset lifecycle management needs. Our longstanding commitment to safety, security, sustainability and innovation in support of our customers underpins everything we do.
IRM Free Cash Flow
Iron Mountain Inc generated $-917.99M in trailing twelve-month free cash flow, representing an FCF yield of -2.90%. This low FCF yield may reflect heavy reinvestment or growth spending.
IRM Shares Outstanding
Iron Mountain Inc has 0.30 billion shares outstanding at a share price of $106.97, giving it a market capitalization of $31.62B.
IRM Recent Insider Trades
Recent insider transactions at Iron Mountain Inc include:
| Insider | Type | Shares | Value |
|---|---|---|---|
| Meaney William L (President and CEO) | SELL | 38,474 | $3.95M |
| Kidd Mark (EVP, GM Data Centers & ALM) | SELL | 6,000 | $616260.00 |
| Bhargava Mithu (EVP, GM Digital Business Unit) | SELL | 14,260 | $1.49M |