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Iron MountainIRM

Other Specialized REITs · Portsmouth, New Hampshire · In the S&P 500
Solid businessPricier than peers
$116.55−1.55%After hours: $116.55 (0.00%)At the close, 30 Oct · Prices from CNBC, may be delayed
▲ 15.0% over 1 year
Iron Mountain over 1 yearDaily close, $, to 30 Oct 2026
$80$100Nov2026MarMayJulSep$116.55$80$100NovMarJul$116.55
Source: Nasdaq daily closes
Market value$34.70B
Price to earnings83.2x
Forward P/E45.1x
Dividend yield2.97%
Year to date+40.5%
One year+15.0%
Next earningsThu 5 Nov, before the open
SectorReal Estate
52-week range (closes)
$78.86$133.06

Quality and valuation

How Iron Mountain compares with other real estate stocks. A description, not a recommendation.

Iron Mountain and 7 other specialized reits peers. Across: valuation (P/E) against the sector. Up: business quality against the sector. Hover or tap a logo for its numbers.

Business quality: about averageValuation: pricier than most

An average business among real estate companies, priced above most of them.

Iron Mountain trades at 45.1 times the next 12 months of expected earnings, against a median of 35.1x for the 30 real estate stocks we cover. The quality score blends where it ranks on revenue growth, gross margin, operating margin and free-cash-flow margin (net margin for banks and insurers) over the last 12 months, from SEC filings.

  • Revenue grew faster than the sector median: +17.4% vs +5.5%
  • Less profitable (operating margin): 18.8% vs 37.2%
  • Turns less of its sales into cash: −6.5% vs 36.0%
IRM trades at 45.1x forward earnings, above the sector medianForward p/e, Other Specialized REITs peers
AMT27.8xSPG31.4xPSA33.0xPLD40.2xIRM45.1xEQIX57.0xDLR76.9xWELL82.7xSector median 35.1xAMT27.8xSPG31.4xPSA33.0xPLD40.2xIRM45.1xEQIX57.0xDLR76.9xWELL82.7xSector median 35.1x
Source: CNBC quotes; Mostly Markets
At 83.2x earnings, IRM is cheaper than its average since Aug 2024Price over the last 12 months of reported (GAAP) diluted EPS
P/EUsual range (±1 s.d.)
200x400x600xAverage 240.1x2025202683.2x250x500x750xAverage 240.1x2025202683.2x
Source: Nasdaq prices; SEC filings

Financials

From Iron Mountain's SEC filings, through the quarter ending 30 Jun 2026. Hover or tap a bar for its value.

Revenue grew 18.5% from a year earlierQuarterly revenue, $bn, latest Q2 ’26
$0bn$1bn$2bnQ3 ’24Q1 ’25Q3 ’25$2.0bnQ2 ’26$0bn$1bn$2bnQ3 ’24Q1 ’25Q3 ’25$2.0bnQ2 ’26
Source: SEC filings
Growth slowed to +18.5% last quarterRevenue growth, year on year, %
0%10%20%Q3 ’24Q1 ’25Q3 ’2518.5%Q2 ’260%10%20%Q3 ’24Q1 ’25Q3 ’2518.5%Q2 ’26
Source: SEC filings
Operating margin was 18.4% last quarterOperating income as a share of revenue, %
0%10%20%Q3 ’24Q1 ’25Q3 ’2518.4%Q2 ’260%10%20%Q3 ’24Q1 ’25Q3 ’2518.4%Q2 ’26
Source: SEC filings
Free cash flow was −$491 million over 12 monthsQuarterly free cash flow (operating cash flow minus capex), $m
−$400m−$200m$0mQ3 ’24Q1 ’25Q3 ’25−$39mQ2 ’26−$400m−$200m$0mQ3 ’24Q1 ’25Q3 ’25−$39mQ2 ’26
Source: SEC filings
Last 12 monthsIRMSector median
Revenue growth+17.4%+5.5%
Operating margin18.8%37.2%
Free cash flow margin−6.5%36.0%
Price to earnings83.2x30.3x

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Similar companies

Other Specialized REITs, by market value.

CompanyPriceTodayYTDValue
WELLWelltower$234.60+0.61%+26.4%$172B
PLDPrologis$127.98−0.03%+0.3%$122B
EQIXEquinix$1,013.70−2.22%+32.3%$100B
AMTAmerican Tower$187.78+1.02%+7.0%$87.09B
SPGSimon Property Group$217.75+0.94%+17.6%$70.45B
DLRDigital Realty$180.70−1.21%+16.8%$67.04B
PSAPublic Storage$324.77+2.43%+25.2%$60.68B
ORealty Income$56.930.00%+1.0%$53.87B