Iron Mountain IRM
Iron Mountain is a REIT that provides information management and storage services, and is expanding its business into data centers, leveraging its property portfolio for space rental and digital infrastructure services. Iron Mountain grows revenue 18.5% on data centers, but net debt of 7.74x EBITDA and a 239.5% payout with negative FCF leave it exposed to rising rates; the 19.31% momentum reflects optimism, not dividend sustainability.
Detailed metrics
Market and fundamental data as of the analysis date.
Full AI report
Generated automatically from the metrics, the macro context and the company's news.
Iron Mountain is a REIT that provides information management and storage services, and is expanding its business into data centers, leveraging its property portfolio for space rental and digital infrastructure services. Iron Mountain grows revenue 18.5% on data centers, but net debt of 7.74x EBITDA and a 239.5% payout with negative FCF leave it exposed to rising rates; the 19.31% momentum reflects optimism, not dividend sustainability.
Score by category
| Category | Score |
|---|---|
| Financial health | 4.9 |
| Quality / Moat | 4.4 |
| Valuation | 1.6 |
| Growth | 8.4 |
| Dividend | 1.6 |
| Momentum | 7.3 |
| Risk & Context | 4.8 |
OVERALL SCORE: 3.9/10
Context and risks
Rising 10-year yields (5.17%) make refinancing net debt of 7.74x EBITDA more expensive, a very high leverage for a REIT. Exposure to the AI capex cycle via data centers is positive, but the cost of capital is the dominant risk.
News considered in the analysis
- Ciena upgraded, Flutter downgraded: Wall Street's top analyst calls — Listículo de recomendaciones de analistas sin información específica sobre Iron Mountain.
- Jim Cramer on Iron Mountain (IRM): “It’s Been an Incredible Stock” — Opinión personal de un comentarista sin datos nuevos; no aporta información material.
- Iron Mountain EVP Sells 6,000 Shares — Venta de 6.000 acciones por un ejecutivo; importe pequeño y ampliamente cubierto, sin señal material.
- Here’s Why Baron Capital is Bullish on Iron Mountain (IRM) — Respaldo de un gestor de fondos conocido; refuerza la tesis de crecimiento en centros de datos, aunque es opinión ya difundida.
- Iron Mountain Partners With Opera Paris to Digitize Cultural Heritage — Contrato de digitalización con la Ópera de París; refuerza la expansión en servicios de gestión de información, aunque de tamaño moderado.
Verdict: Hold; data center growth is real, but leverage and dividend coverage warrant caution until free cash flow conversion improves.
Main risk: Extreme leverage (ND/EBITDA 7.74x) combined with 5.17% rates and a 239.5% payout with no free cash flow: any further rate hike or data center slowdown could force a dividend cut or equity raise.
Other Real Estate companies
Neighbours in the sector ranking, to compare without going back to the index.
See all 1,000+ companies in the index →