Iron Mountain Inc. (ticker: IRM)


Price Movement Iron Mountain Incorporated (IRM) is a global enterprise dedicated to storing, protecting, and managing information and assets. The company operates a vast storage and information management services network, offering solutions that include records storage, data backup and recovery, document management, and secure shredding. Founded in 1951, Iron Mountain has since grown to service over 225,000 customers, including commercial, legal, banking, healthcare, and government entities, across approximately 50 countries worldwide. The company's real estate network covers more than 90 million square feet across more than 1,450 facilities. Iron Mountain is also expanding its digital solutions to meet the growing demand for data center infrastructure and has been increasingly investing in building a robust digital storage and information management platform. The combination of physical and digital storage capacity allows IRM to offer comprehensive solutions aimed at risk mitigation and business continuity for its clients. As a publicly traded company on the NYSE, Iron Mountain has a reputation for being a stable income-generating stock, particularly due to its conversion to a real estate investment trust (REIT) in 2014, which provides certain tax advantages and requires the distribution of a significant portion of its income directly to shareholders in the form of dividends.

As of Date: 12/24/2023Current 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Market Cap (intraday) 20.26B 17.35B 16.58B 15.43B 14.49B 12.78B
Enterprise Value 34.22B 30.96B 29.91B 28.57B 27.05B 25.09B
Trailing P/E 73.80 46.09 28.70 27.85 29.37 34.70
Forward P/E 40.16 35.59 98.04 36.76 30.77 26.18
PEG Ratio (5 yr expected) - - - - - -
Price/Sales (ttm) 3.81 3.33 3.22 3.03 2.92 2.66
Price/Book (mrq) 77.16 41.70 30.40 24.23 27.40 19.76
Enterprise Value/Revenue 6.41 22.30 22.03 21.74 21.15 19.49
Enterprise Value/EBITDA 20.18 68.37 84.73 71.16 54.46 48.84
Full Time Employees26,000 Previous Close69.05 Open69.25
Day Low68.91 Day High69.61 Dividend Rate2.6
Dividend Yield3.75% Payout Ratio266.54% Five Year Avg Dividend Yield6.37%
Beta0.92 Trailing PE73.798 Forward PE37.701
Volume775,185 Regular Market Volume775,185 Average Volume1,572,170
Average Volume 10 days1,509,990 Bid68.99 Ask69.37
Bid Size800 Ask Size1,000 Market Cap20,255,348,736
52 Week Low48.92 52 Week High69.61 Price to Sales Trailing 12 Months3.793
Fifty Day Average62.8404 Two Hundred Day Average58.67095 Trailing Annual Dividend Rate2.506
Trailing Annual Dividend Yield3.629% Enterprise Value34,659,872,768 Profit Margins5.21%
Float Shares289,352,902 Shares Outstanding291,990,016 Shares Short11,486,387
Shares Short Prior Month11,997,648 Shares Percent Shares Out3.93% Held Percent Insiders0.849%
Held Percent Institutions75.165% Short Ratio7.09 Short Percent of Float4.72%
Book Value0.899 Price to Book77.164 Net Income to Common278,188,992
Trailing EPS0.94 Forward EPS1.84 PEG Ratio8.54
Enterprise to Revenue6.491 Enterprise to Ebitda19.346 52 Week Change36.824%
S&P 52 Week Change24.166% Last Dividend Value0.65 Total Cash170,502,000
Total Cash Per Share0.584 EBITDA1,791,604,992 Total Debt14,411,665,408
Quick Ratio0.672 Current Ratio0.812 Total Revenue5,339,509,248
Debt to Equity3383.806 Revenue per Share18.307 Return on Assets4.128%
Return on Equity53.86% Gross Profits2,914,454,000 Free Cash Flow21,919,624
Operating Cash Flow1,033,713,984 Earnings Growth-53% Revenue Growth7.9%
Gross Margins56.991% EBITDA Margins33.554% Operating Margins20.328%

Based on the provided technical analysis (TA) data and fundamental financial data for IRM on the last trading day, the following insights reflect a blend of the identified technical indicators and fundamental metrics:

Fundamentally, the company's market capitalization and enterprise value show substantial growth, suggesting increased valuation and potentially positive investor sentiment. The trailing P/E ratio, although high, might reflect expectations of future earnings growth not captured by the P/E alone. The enterprise value to revenue and EBITDA ratios have significantly improved, which may be indicative of the company's operational efficiency and ability to turn revenue into profit.

However, price multiples like P/S and P/B are quite high, suggesting the stock is possibly overvalued compared to its sales and book value. This could be a point of concern if the market reevaluates the company's sustainable growth rate.

Considering the overall bullish technical indicators, paired with strong fundamental growth signals, it's likely that the stock's price will continue to trend upwards in the coming months. However, the high valuation multiples and certain signs of overbought conditions, such as the high RSI and Williams %R, suggest that investors should monitor for potential pullbacks or price consolidations as the market digests the gains and reevaluates the company's growth prospects. Any changes in the company's fundamental performance or broader market sentiment could notably influence the stock price movement, either reinforcing the bullish trend or prompting a correction. Therefore, maintaining vigilance on evolving market conditions and the company's forthcoming financial results would be prudent.

Iron Mountain Incorporated (IRM), headquartered in Boston, Massachusetts, stands as a testament to the strength and resilience that a well-diversified real estate investment trust (REIT) can achieve. Specializing in storage and information management services, Iron Mountain boasts a significant global footprint, serving over 225,000 clients across various industries and geographies. With a business model that emphasizes stable and recurring revenue streams, Iron Mountain charges its clients fixed periodic storage rental fees based on the volume of records stored. This model has proved successful, offering investors a strong case for portfolio inclusion due to consistent returns and potential for growth.

The financial health of Iron Mountain is robust, as illustrated by its recent third-quarter financial report. Despite missing the Zacks Consensus Estimate for adjusted funds from operations (AFFO) by a narrow margin, the company reported a year-over-year increase of 1%. This AFFO growth was driven by an increase in adjusted EBITDA, which showcases the company's ability to grow earnings in a sustainable manner. Moreover, the stock's performance has been impressive, with a 6.2% increase in value over a three-month period, outpacing industry growth.

One of Iron Mountain's core strengths lies in its diversified tenant base and the breadth of its revenue sources. The company boasts a remarkable record of having no individual customer amount to more than 1% of total revenues. Such a diversified revenue approach, paired with a remarkable 93% retention rate in the records management business and solid retention in the global data center segment, lays a strong foundation for Iron Mountain's continued cash flow stability.

Iron Mountain's proactive nature is evident in its recent strategic expansions, particularly within the rapidly evolving data center sector. The company leased an impressive 65 megawatts of data center capacity in just the third quarter, demonstrating its agility in capturing the growing demand for data storage and management. This expansion is critical as it complements Iron Mountain's existing storage operations and opens new avenues for growth.

The company's financial performance further solidifies its positioning in the market. Iron Mountain has recorded remarkable FFO per share growth of 15.93% over a three to five-year period, significantly outshining the industrys average. This performance, complemented by substantial liquidity and the absence of major debt maturities until 2027, equips Iron Mountain with ample capability to pursue its strategic growth initiatives.

Iron Mountain's resilience is also reflected in its cash flow projections, which indicate an 11.88% increase in comparison to the industry's projected 8.10%. Moreover, Iron Mountain's return on equity surpasses the industry average, indicating a more efficient use of shareholders' equity. These financial indicators, when viewed in conjunction, paint a picture of a company that is not only maintaining its financial health but also enhancing its capacity to generate shareholder value.

Against the backdrop of a cautious REIT market, Iron Mountain's dividends have served as a source of attraction for investors looking for high-dividend yielding opportunities, much like its industry peer, W. P. Carey Inc. Despite the overall REIT sector experiencing volatility, Iron Mountain has used its solid operational model and strategic diversification to maintain steady performance.

In the current investment climate, the merits of Iron Mountain's niche focus on information storage and management as well as the broader REIT industry risks must be considered. Iron Mountain has navigated market changes by capitalizing on essential services and information management resilience, which positions it as a reliable candidate in investors portfolios even amidst ongoing economic downturns and market unpredictability.

Analyzing the company from an income investment perspective, Iron Mountain finds comparison with other big-yield opportunities such as Closed-End Funds (CEFs) and Master Limited Partnerships (MLPs). The company, given its reliable dividend yields and unique business model, stands alongside other high-yield investments. The wisdom in such comparisons is in understanding the balance between high management fees and operational expenses, interest rate risks, and potential return of capital (ROC) elements that come with such investments.

When looking at Iron Mountain's financial health and investment value, it's significant to note the company's initiatives to foster high returns on equity (ROE), demonstrating a powerful capacity to manage investments and reward shareholders. This focus has allowed Iron Mountain to report an average earnings surprise of 2.1%, highlighting the company's operational resilience, and a sustained ability to exceed earnings expectations. With economic indicators such as increased U.S. consumer confidence and heightened buying intentions, Iron Mountain's efficient use of financial resources offers a high rate of return, making it a stabilizing force among investment options.

Iron Mountain has also been subject to a careful analysis regarding insider trading activities. Notably, evaluating the recent sale by Executive Vice President Deborah Marson of 2,000 shares and the wider pattern of insider selling calls into question the internal confidence of company leadership. However, any insider activity could be representative of personal financial management rather than an overt comment on the company's future outlook.

Amid conversations about insider activities and market valuations, IRM recorded a substantial 27% year-to-date increase in its stock performance. This growth has been rooted in the companys resilient storage and records management businesses, along with shrewd acquisitions and expansions into the data center sector. Iron Mountain's financial strategies such as an increase to its liquidity and a low leverage ratio strengthen investor appeal due to the company's financial prudence and sustained growth capabilities.

Nevertheless, challenges do exist for Iron Mountain in the form of industry pressures and the impact of external economic factors including interest rates. Even so, comparative analysis within the REIT sector, looking at counterpart companies like EastGroup Properties and Stag Industrial, reveals a vibrant and competitive market. Such analysis underscores the necessity for Iron Mountain to continuously evolve and strategize aptly to uphold its market leadership.

Finally, Iron Mountain's strong Q3 2023 financial performance, bolstered by strategic gains from Project Matterhorn, positions the company on a path of record-breaking revenue and EBITDA. The accelerated growth in both the physical storage and data center divisions signals Iron Mountain's capacity to evolve and grow organically. With foresight and confidence indicated by revised capital expenditure projections and a low leverage ratio, the company's management has expressed a positive outlook for Iron Mountains future, focusing on innovation and customer service as driving forces.

Similar Companies in Cloud Storage & File Sharing Service:
Box, Inc. (BOX), DocuSign, Inc. (DOCU), Dropbox, Inc. (DBX), Shred-it International Inc. (Private), Xerox Holdings Corporation (XRX)

News Links:

Copyright © 2023 Tiny Computers (

Report ID: SDIpsMy  Home