Iron Mountain Incorporated (IRM) Fair Value & Analysis
Real Estate · US · Market cap $37.9B
Iron Mountain Incorporated
IRM · US
Fair value as of: Jul 26, 2026
From 10 valuation models · updated 12 days ago
Share price +5.4% over the past month.
Below-average quality, and screening another 67% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case ($66.41). The favourable scenario is already priced in.
- The model range is unusually wide ($14.45 to $66.41). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 26, 2026.
How to read this chart
60‑month range $31.13 – $133.06 · fair‑value band $14.45 – $66.41 · the $121.96 price screens above the $40.43 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 26, 2026.
Analysis
Iron Mountain Incorporated (IRM) currently trades at $121.96, while our model-based Fair Value estimate is $40.43, implying the stock looks roughly 66.9% overvalued today. We read business quality at 47/100 (below-average quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Over the trailing twelve months, Iron Mountain Incorporated generated revenue of $7.2B at a net margin of 3.8%. Revenue grew 21.6% year over year. It earns a return on equity of 225.1%. Net debt stands at $18.9B. Fundamentals as of Jul 26, 2026
Our scenario range runs from $14.45 (bear case) to $66.41 (bull case); at $121.96, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 8% below its 52-week high and 59% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -50% fair-value upside, at -67%, IRM screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 10 models by family
Widest divergence: Multiples ($40.43) versus Earnings-Based ($18.18). Highest evidence: ROIC Compounder (72).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 26, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 35 · Market factors (momentum, volatility) 62
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
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.
Full company description
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. Iron Mountain Incorporated is based in Portsmouth, New Hampshire. Iron Mountain Incorporated was founded in 1951 and is incorporated in Delaware.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Iron Mountain Incorporated reported revenue of $6.9B in FY2025 versus $4.5B in FY2021, a compound +11.3%/yr. Reported net income was $145M in FY2025, compounding −24.7%/yr from FY2021.
IRM screens 67% overvalued. Compare with Equinix, Inc →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Should Iron Mountain Stock Be in Your Portfolio Ahead of Q2 Earnings?
- Iron Mountain's Q2 2026 Earnings: What to Expect
Peer Group
REIT - Specialty · 34 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs REIT - Specialty median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more REIT - Specialty stocks, each showing price versus our Fair Value estimate (as of Jul 26, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Equinix, Inc EQIX | $1,009 | $232.70 | -77% |
| American Tower Corporation AMT | $164.65 | $92.31 | -44% |
| Digital Realty Trust, Inc DLR | $199.08 | $63.31 | -68% |
| Crown Castle Inc CCI | $74.90 | $37.67 | -50% |
| SBA Communications Corporation SBAC | $173.57 | $143.83 | -17% |
| Weyerhaeuser Company WY | $23.94 | $8.62 | -64% |
| Lamar Advertising Company LAMR | $159.46 | $102.70 | -36% |
| Gaming and Leisure Properties, Inc GLPI | $45.17 | $36.60 | -19% |
| Rayonier Inc RYN | $21.58 | $9.96 | -54% |
| OUTFRONT Media Inc OUT | $32.03 | $12.00 | -63% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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