Iron Mountain Incorporated
IRMReal EstateNASDAQREIT - Specialty · Last scanned Jul 18, 2026
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Daily timeframeHeadquartered within the real estate sector, Iron Mountain Incorporated focuses on REIT - Specialty services and products. 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. The $36.84B market capitalization puts IRM squarely in large-cap range for its industry. Our broad range of solutions address their information management, digital transformation, information security, data center and asset lifecycle management needs.
Market Cap
$36.84B
Beta
1.22
P/E (TTM)
131.72
P/E (Fwd)
46.28
EPS (TTM)
$0.94
EPS (Fwd)
$2.68
ROE
—
ROA
4.6%
Cash
$250.7M
Total Debt
$19.72B
Free CF
-$499.5M
52W Change
24.2%
Annual Financials
Cash vs Debt
On the balance sheet, IRM has $250.7M in cash with $19.72B in obligations. The ability to service this debt comfortably depends on continued operational cash generation. Free cash flow is running at -$499.5M, which bears watching. Negative free cash flow can be acceptable during heavy investment periods but needs to improve over time. ROA of 4.6% is on the lower side, which is common in asset-heavy industries. Revenue has grown from $5.10B (2022) to $6.90B (2025), reflecting a 35% increase over the period.
Iron Mountain Incorporated carries a heavier debt load relative to its cash position, which introduces financial risk that investors should weigh. Negative free cash flow means the company is currently spending more than it generates, which may require future fundraising or debt if the trend continues. At over 50x earnings, IRM carries valuation risk — any slowdown in growth expectations could lead to meaningful price adjustments. These risk factors are not exhaustive — macroeconomic shifts, regulatory changes, and competitive dynamics can all influence Iron Mountain Incorporated's trajectory.