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Iron Mountain Incorporated (IRM)



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Upturn Advisory Summary
08/28/2025: IRM (3-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $114.5
1 Year Target Price $114.5
4 | Strong Buy |
5 | Buy |
0 | Hold |
0 | Sell |
1 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 77.38% | Avg. Invested days 63 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Large-Cap Stock | Market Capitalization 27.27B USD | Price to earnings Ratio 659.5 | 1Y Target Price 114.5 |
Price to earnings Ratio 659.5 | 1Y Target Price 114.5 | ||
Volume (30-day avg) 10 | Beta 1.09 | 52 Weeks Range 71.77 - 127.24 | Updated Date 08/29/2025 |
52 Weeks Range 71.77 - 127.24 | Updated Date 08/29/2025 | ||
Dividends yield (FY) 3.26% | Basic EPS (TTM) 0.14 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2025-08-06 | When - | Estimate 0.5 | Actual 0.48 |
Profitability
Profit Margin 0.64% | Operating Margin (TTM) 18.35% |
Management Effectiveness
Return on Assets (TTM) 4.14% | Return on Equity (TTM) 225.06% |
Valuation
Trailing PE 659.5 | Forward PE 59.88 | Enterprise Value 44796081253 | Price to Sales(TTM) 4.23 |
Enterprise Value 44796081253 | Price to Sales(TTM) 4.23 | ||
Enterprise Value to Revenue 6.95 | Enterprise Value to EBITDA 23.74 | Shares Outstanding 295348000 | Shares Floating 292678277 |
Shares Outstanding 295348000 | Shares Floating 292678277 | ||
Percent Insiders 0.79 | Percent Institutions 85.36 |
Upturn AI SWOT
Iron Mountain Incorporated

Company Overview
History and Background
Iron Mountain was founded in 1951 in Livingston, NY, by Herman Knaust. Initially, it was a mushroom farm that expanded to offer secure storage space in a former iron mine. Over time, it evolved into a global leader in information management services.
Core Business Areas
- Storage Services: Provides secure storage for physical records, data backup, and other valuable assets. Includes records management, data protection, and secure shredding services.
- Data Center Operations: Offers colocation, cloud, and IT infrastructure services in purpose-built data centers. Provides secure, compliant, and scalable data center solutions.
- Information Governance and Digital Solutions: Helps organizations manage and leverage their information assets, including digital transformation, content services, and workflow automation.
Leadership and Structure
William L. Meaney serves as the President and CEO. The company is structured with a Board of Directors overseeing its operations, with various executive leadership positions managing core business areas.
Top Products and Market Share
Key Offerings
- Records Management: Iron Mountain's core business, providing secure storage and retrieval of physical documents. Holds a significant market share, estimated at approximately 40% in the records management sector. Competitors include Recall (acquired by Stericycle) and Access Information Management.
- Data Protection and Recovery: Services include data backup, disaster recovery, and secure data destruction. The data protection market is highly competitive, with players like Veeam, Rubrik, and Commvault Systems.
- Data Centers: Colocation and hyperscale data center facilities with a market share of around 2-3% globally. Competitors include Equinix, Digital Realty Trust, and CyrusOne.
Market Dynamics
Industry Overview
The information management industry is experiencing a shift towards digital solutions, with increasing demand for cloud-based storage and data analytics. Data privacy regulations (e.g., GDPR, CCPA) are driving demand for secure information governance solutions.
Positioning
Iron Mountain is a leading provider of information management services, offering a comprehensive suite of solutions for both physical and digital records. Its competitive advantages include its extensive global infrastructure and long-standing customer relationships.
Total Addressable Market (TAM)
The TAM is estimated to be over $80 billion across all of its segments. Iron Mountain is well-positioned to capture a significant share, especially with the increasing need for data compliance.
Upturn SWOT Analysis
Strengths
- Global network of secure storage facilities
- Long-standing relationships with blue-chip clients
- Established brand reputation
- Recurring revenue model
- Diverse service offerings across physical and digital realms
Weaknesses
- High capital expenditure requirements
- Slow growth in traditional records management segment
- Reliance on acquisitions for growth
- Complexity of managing both physical and digital solutions
Opportunities
- Expansion into emerging markets
- Increased demand for cloud-based data storage solutions
- Growing need for data security and compliance services
- Strategic partnerships with technology providers
Threats
- Increased competition from cloud storage providers
- Cybersecurity threats and data breaches
- Economic downturn impacting business spending
- Changing regulatory landscape
Competitors and Market Share
Key Competitors
- DLR
- EQIX
- COR
- IRM
Competitive Landscape
Iron Mountain has a strong presence in records management but faces increasing competition in the data center and cloud storage markets. Its advantage lies in its established infrastructure and customer base, while its disadvantage is the need to adapt to rapidly changing technology.
Major Acquisitions
Credit Suisse Records Management
- Year: 2022
- Acquisition Price (USD millions): 86
- Strategic Rationale: Expansion of presence in Switzerland and bolstering records management services in Europe.
Growth Trajectory and Initiatives
Historical Growth: Iron Mountain has grown through both organic expansion and strategic acquisitions.
Future Projections: Analysts project continued growth, driven by demand for data center services and digital transformation solutions.
Recent Initiatives: Recent initiatives include expanding data center capacity, investing in digital solutions, and streamlining operations.
Summary
Iron Mountain is a well-established leader in information management. The company is adapting to the digital age with its growing data center business. However, it faces competition from cloud-based solutions and needs to manage its debt effectively. The shift from physical records to digital solutions presents both an opportunity and a challenge.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company filings (10-K, 10-Q)
- Analyst reports
- Industry publications
- Company website
Disclaimers:
This analysis is based on publicly available information and is intended for informational purposes only. It is not financial advice.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Iron Mountain Incorporated
Exchange NYSE | Headquaters Portsmouth, NH, United States | ||
IPO Launch date 1996-01-31 | President, CEO & Director Mr. William L. Meaney BSc, MEng, MSIA | ||
Sector Real Estate | Industry REIT - Specialty | Full time employees 28850 | Website https://www.ironmountain.com |
Full time employees 28850 | Website https://www.ironmountain.com |
Iron Mountain Incorporated (NYSE: IRM) 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. Our longstanding commitment to safety, security, sustainability and innovation in support of our customers underpins everything we do.

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