NYSE · IRM

Iron Mountain Incorporated

Real Estate · REIT - Specialty

$109.96▼ 0.63% ($0.70)at close

As of 4:00 PM ET

52-week

$77.77$134.68

Market cap

$32.74B

P/E

78.76

EPS (TTM)

$1.40

Next earnings

Nov 5, 2026

Valuation

P/E Valuation

Estimated value / share · Base

$83.79

−24%

−24%vs price used $109.96

USD · Trailing earnings · Price Oct 23, 8:00 PM UTC

Price vs. estimate range

Assumption scenarios, not confidence intervals

P/E multiple: 60.0×
Earnings basis: Trailing EPS

USD · Trailing earnings · Price Oct 23, 8:00 PM UTC

P/E scenarios apply a multiple to trailing EPS. They are not editable; choose Bear, Base or Bull above.

Current P/E

78.8×

Market multiple

Fair-value P/E

60.0×

5-Year Avg P/E

Fair value / share

$83.79

P/E based estimate

Price vs Fundamentals

Why The Stock Is Moving

Mixed / unclearLow confidence

1Y Price: 5.8%Revenue (TTM): 17.37%FCF (TTM): 54.5%P/E: 68th pct

What changed

The stock rose 5.8% over the last year. Revenue grew 17.37% over the trailing twelve months. Operating margin moved from 16.26% to 18.76%. Free cash flow grew 54.5% over the trailing twelve months.

What the market seems to be pricing

The stock has moved higher against modestly improving underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.

What would invalidate this read

Operating margin currently stands at 18.76%. A decisive move in revenue — currently up 17.37% — would be the clearest signal to resolve the ambiguity.

Return analysis

Company profile

Established in 1951, Iron Mountain Incorporated (NYSE: IRM) has become the world's foremost authority in storage and information management solutions.

CEOWilliam L. Meaney

SectorReal Estate

IndustryREIT - Specialty

Employees29,400

IPO dateFeb 1, 1996

https://www.ironmountain.com

Market multiples

Forward P/E—

EV/EBITDA (FY2025 year-end)20.50

Enterprise value (FY2025 year-end)$43.4B

Stock splits

Sep 26, 2014↑ Forward

Every 500 shares became 541

+8%

Jan 3, 2007↑ Forward

Every 2 shares became 3

+50%

Jul 1, 2004↑ Forward

Every 2 shares became 3

+50%

Jan 2, 2002↑ Forward

Every 2 shares became 3

+50%

Jan 5, 2000↑ Forward

Every 10 shares became 11

+10%

Aug 3, 1998↑ Forward

Every 2 shares became 3

+50%

Profitability & growth

Standard profitability metrics can be misleading for financial/insurance companies. GAAP requires unrealized investment gains/losses in net income (affecting ROE), and margins are blended across diverse business segments.

Revenue growth (Q2 FY26 YoY)18.52%

Gross margin (FY2025)25.69%▼30.5ppvs FY2024

Operating margin (FY2025)20.36%▲3.9ppvs FY2024

ROE (TTM to Jun 2026)N/A

Analyst consensus

RatingBuy

Target price$142.75▲29.82%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Actuals vs estimates by quarter, or any quarter against the same one a year earlier.

Next report

Nov 5, 2026

Q3 FY26 · EPS est $0.61 · Revenue est $2.0B

Same quarter, year over year

FY26 YTD +31.9%

Each cell vs the same quarter a year earlier (the cell below) · Q1–Q2 combined $1.20 vs $0.91 · all 2 quarters up

FY total

FY26

—

FY25

$2.06+15.1%

FY24

$1.79—

FY23

—

Fiscal year totals

FY25: $2.06; +15.1%
FY24: $1.79; —

SlowerFaster growth(darkest from 27%)

BeatMissIn lineYear-ago cell

Q2 FY26

Reported Aug 5, 2026 · Latest

HoverTap a cell to inspect

Actual

$0.60

Beat by 10.5%

Estimate

$0.54

Street consensus

Year over year

+25.0%

vs Q2 FY25 · $0.48

Vs prior quarter

0.0%

vs Q1 FY26 · $0.60

Price range $100.95-$133.06 · daily closes Apr 1-Jun 30

Implied at 46.8x street P/E $109.96 · street TTM EPS × current multiple

Institutional Sentiment

Iron Mountain Incorporated · IRM

From Form 13F filings (managers with $100M+). Filings land up to 45 days after quarter end — read this as positioning context, not live fund flow.

NYSE · IRM

Iron Mountain Incorporated

Real Estate · REIT - Specialty

$109.96▼ 0.63% ($0.70)at close

As of 4:00 PM ET

52-week

$77.77$134.68

Market cap

$32.74B

P/E

78.76

EPS (TTM)

$1.40

Next earnings

Nov 5, 2026

Valuation

P/E Valuation

Estimated value / share · Base

$83.79

−24%

−24%vs price used $109.96

USD · Trailing earnings · Price Oct 23, 8:00 PM UTC

Price vs. estimate range

Assumption scenarios, not confidence intervals

P/E multiple: 60.0×
Earnings basis: Trailing EPS

USD · Trailing earnings · Price Oct 23, 8:00 PM UTC

P/E scenarios apply a multiple to trailing EPS. They are not editable; choose Bear, Base or Bull above.

Current P/E

78.8×

Market multiple

Fair-value P/E

60.0×

5-Year Avg P/E

Fair value / share

$83.79

P/E based estimate

Price vs Fundamentals

Why The Stock Is Moving

Mixed / unclearLow confidence

1Y Price: 5.8%Revenue (TTM): 17.37%FCF (TTM): 54.5%P/E: 68th pct

What changed

The stock rose 5.8% over the last year. Revenue grew 17.37% over the trailing twelve months. Operating margin moved from 16.26% to 18.76%. Free cash flow grew 54.5% over the trailing twelve months.

What the market seems to be pricing

What would invalidate this read

Operating margin currently stands at 18.76%. A decisive move in revenue — currently up 17.37% — would be the clearest signal to resolve the ambiguity.

Return analysis

Company profile

Established in 1951, Iron Mountain Incorporated (NYSE: IRM) has become the world's foremost authority in storage and information management solutions.

CEOWilliam L. Meaney

SectorReal Estate

IndustryREIT - Specialty

Employees29,400

IPO dateFeb 1, 1996

https://www.ironmountain.com

Market multiples

Forward P/E—

EV/EBITDA (FY2025 year-end)20.50

Enterprise value (FY2025 year-end)$43.4B

Stock splits

Sep 26, 2014↑ Forward

Every 500 shares became 541

+8%

Jan 3, 2007↑ Forward

Every 2 shares became 3

+50%

Jul 1, 2004↑ Forward

Every 2 shares became 3

+50%

Jan 2, 2002↑ Forward

Every 2 shares became 3

+50%

Jan 5, 2000↑ Forward

Every 10 shares became 11

+10%

Aug 3, 1998↑ Forward

Every 2 shares became 3

+50%

Profitability & growth

Revenue growth (Q2 FY26 YoY)18.52%

Gross margin (FY2025)25.69%▼30.5ppvs FY2024

Operating margin (FY2025)20.36%▲3.9ppvs FY2024

ROE (TTM to Jun 2026)N/A

Analyst consensus

RatingBuy

Target price$142.75▲29.82%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Actuals vs estimates by quarter, or any quarter against the same one a year earlier.

Next report

Nov 5, 2026

Q3 FY26 · EPS est $0.61 · Revenue est $2.0B

Same quarter, year over year

FY26 YTD +31.9%

Each cell vs the same quarter a year earlier (the cell below) · Q1–Q2 combined $1.20 vs $0.91 · all 2 quarters up

FY total

FY26

—

FY25

$2.06+15.1%

FY24

$1.79—

FY23

—

Fiscal year totals

FY25: $2.06; +15.1%
FY24: $1.79; —

SlowerFaster growth(darkest from 27%)

BeatMissIn lineYear-ago cell

Q2 FY26

Reported Aug 5, 2026 · Latest

HoverTap a cell to inspect

Actual

$0.60

Beat by 10.5%

Estimate

$0.54

Street consensus

Year over year

+25.0%

vs Q2 FY25 · $0.48

Vs prior quarter

0.0%

vs Q1 FY26 · $0.60

Price range $100.95-$133.06 · daily closes Apr 1-Jun 30

Implied at 46.8x street P/E $109.96 · street TTM EPS × current multiple

Institutional Sentiment

Iron Mountain Incorporated · IRM

From Form 13F filings (managers with $100M+). Filings land up to 45 days after quarter end — read this as positioning context, not live fund flow.