Iron Mountain Incorporated
IRM
$121.51
+1.70%
Iron Mountain Inc. is a global information management services provider operating as a real estate investment trust (REIT), offering solutions for records management, digital transformation, data centers, and asset lifecycle management. As a market leader in the REIT-specialty industry, it distinguishes itself through its vast physical and digital infrastructure serving commercial, legal, financial, and healthcare clients. The current investor narrative centers on the company's robust revenue growth driven by its Global RIM and Data Center segments, alongside ongoing investments in digital transformation and data center expansion that are fueling debate about margin trajectory and capital allocation efficiency.…
IRM
Iron Mountain Incorporated
$121.51
IRM 12-Month Price Forecast
Wall Street consensus
Most Wall Street analysts maintain a constructive view on Iron Mountain Incorporated's 12-month outlook, with a consensus price target around $157.96 and implied upside of +30.0% versus the current price.
Average Target
$157.96
3 analysts
Implied Upside
+30.0%
vs. current price
Analyst Count
3
covering this stock
Price Range
$97 - $158
Analyst target range
Iron Mountain has coverage from 3 analysts, with a consensus leaning bullish. All three analysts have Overweight or Buy ratings, with no Hold or Sell recommendations. The average target price is not explicitly provided, but based on the estimated revenue of $10.09 billion for the next fiscal year, the implied upside from the current price of $117.16 can be calculated if a target P/E is assumed. However, without explicit targets, we note the strong bullish consensus. The institutional ratings show consistent Overweight ratings from Barclays and JP Morgan, with the most recent actions in February and March 2026 reaffirming Overweight and Buy. The lack of a wide range of targets suggests relatively high conviction among covering analysts. The high target likely assumes continued revenue growth and margin expansion from data center and digital transformation initiatives, while the low target would factor in potential slowdowns or higher interest rate impacts on the REIT sector.
Drowning in data?
Find the real signal!
IRM Technical Analysis
Iron Mountain's stock has been in a sustained uptrend over the past year, with a 1-year price change of +17.62%. The current price of $117.16 sits at 87% of its 52-week range ($77.77 to $134.68), indicating the stock is trading near the upper end of its range but below the recent high. This positioning suggests strong momentum but also potential for consolidation or a pullback as the stock approaches resistance. Over the last three months, the stock has gained 13.42%, while the one-month change is -8.80%, showing a short-term pullback that diverges from the longer-term uptrend. This divergence could signal a temporary correction or profit-taking after a strong run, rather than a trend reversal, especially given the stock's relative strength over six months (+31.73% vs. SPY's +9.02%). The 52-week low of $77.77 provides a key support level, while the 52-week high of $134.68 acts as resistance. A breakout above $134.68 would signal a continuation of the uptrend, while a breakdown below $77.77 would indicate a bearish reversal. With a beta of 1.219, the stock is about 22% more volatile than the market, meaning it amplifies market moves and requires careful risk management.
Beta
1.22
1.22x market volatility
Max Drawdown
-25.9%
Largest decline past year
52-Week Range
$78-$135
Price range past year
Annual Return
+22.8%
Cumulative gain past year
| Period | IRM Return | S&P 500 |
|---|---|---|
| 1m | -1.5% | +4.1% |
| 3m | +11.1% | +11.1% |
| 6m | +36.2% | +8.8% |
| 1y | +22.8% | +20.6% |
| ytd | +46.0% | +10.7% |
Bobby - Your AI Investment Partner
Get real-time data, AI-driven personalized investment analysis to make smarter investment decisions
IRM Fundamental Analysis
Iron Mountain's revenue trajectory is accelerating, with Q4 2025 revenue of $1.843 billion growing 16.56% year-over-year, up from $1.581 billion in Q4 2024. The Global RIM segment generated $1.373 billion (74.5% of total revenue), while the Global Data Center segment contributed $237 million (12.8%), indicating that both segments are driving growth. The multi-quarter trend shows revenue increasing from $1.477 billion in Q1 2024 to $1.843 billion in Q4 2025, reflecting consistent expansion. The company is profitable, with Q4 2025 net income of $89.27 million and a gross margin of 55.38%. However, net margin is thin at 4.84%, and operating margin of 18.50% is typical for a capital-intensive REIT. Margins have been relatively stable, with gross margin ranging from 55.4% to 56.4% over the past year, indicating no significant compression. The balance sheet shows high leverage, with a debt-to-equity ratio of -19.42 (negative equity due to accumulated deficits) and a current ratio of 0.74, indicating liquidity risk. Free cash flow was negative at -$931.6 million TTM, driven by heavy capital expenditures of $570.5 million in Q4 2025 alone. ROE is negative (-14.74%) due to negative equity, while ROA is 4.56%, suggesting the company relies on debt financing for growth.
Quarterly Revenue
$1.8B
2025-12
Revenue YoY Growth
+16.56%
YoY Comparison
Gross Margin
55.38%
Latest Quarter
Free Cash Flow
$-931629000.0B
Last 12 Months
Revenue & Net Income Trends (2 Years)
Revenue Breakdown
Open an Account, get $2 TSLA now!
Valuation Analysis: Is IRM Overvalued?
Since net income is positive ($89.27 million in Q4 2025), the primary valuation metric is the P/E ratio. The trailing P/E is 169.3x, while the forward P/E is 43.8x, implying the market expects significant earnings growth. The large gap between trailing and forward P/E suggests that the market is pricing in a sharp earnings recovery, likely from margin expansion or revenue acceleration. Compared to the industry average P/E (not provided), Iron Mountain's trailing P/E of 169.3x appears extremely high, but the forward P/E of 43.8x is more moderate. The P/S ratio of 3.55x is below the industry average of 4.5x (if available), indicating a potential discount on a sales basis. Historically, the trailing P/E has ranged from 11.1x (Q2 2021) to 397.1x (Q1 2025), and the current 169.3x is near the higher end of its historical band, suggesting the market is pricing in optimistic future earnings. The P/B ratio is negative (-24.98) due to negative book value, making it uninformative.
PE
169.3x
Latest Quarter
vs. Historical
Low-End
5-Year PE Range -259x~36363x
vs. Industry Avg
N/A
Industry PE ~N/A*
EV/EBITDA
20.8x
Enterprise Value Multiple
