Iron Mountain Incorporated (IRM)
Quantitative Summary
DeterministicIRM trades at 139.4x earnings — a 194% premium to its sector average of 47.4x — without a dominant ROIC-WACC spread. Financial health is average: Piotroski 4/9, Altman Z 1.0.
Generated deterministically from quant metrics and financial statements. Not a recommendation.
Algorithmic Teardown
AI-GeneratedIron Mountain's capital allocation efficiency is currently compromised, as the return on invested capital of 4.5% falls significantly below the weighted average cost of capital of 9.1%, resulting in a negative spread that erodes shareholder value. This fundamental weakness is compounded by an ROE of -22.4%, driven not merely by low margins but by extreme leverage, evidenced by an equity multiplier of -32.76x which suggests substantial off-balance-sheet liabilities or complex capital structure adjustments. While the Piotroski F-Score of 4/9 indicates moderate financial health and a Beneish M-Score of -2.65 points to low earnings manipulation risk, the Altman Z-Score of 0.9 signals elevated distress territory that warrants caution despite robust gross margins at 55.4% and double-digit revenue growth of 12.2%.
Valuation metrics reflect significant market skepticism regarding future cash flow sustainability relative to current costs. The stock trades at a P/E ratio of 210.8x, which is more than double the sector average of 87.1x, implying that investors are pricing in aggressive growth expectations that may not align with the company's current profitability trajectory. Although revenue expansion remains strong, the disconnect between high valuation multiples and negative net margins creates a precarious margin for error where any deceleration could trigger a sharp re-rating downward. The disparity between historical earnings power and current price levels suggests the market is attempting to reconcile long-term structural advantages against short-term capital destruction risks.
Risk factors present a mixed picture of alpha generation versus fundamental deterioration. Despite generating an annual Fama-French Alpha of 17.18%, indicating outperformance relative to standard risk factors, the stock exhibits weak profitability characteristics with a Profitability Factor (RMW) of -0.154 and neutral value exposure at HML -0.044. These technical anomalies are overshadowed by significant insider activity, where $62.7 million in net selling over the last 90 days highlights potential concerns among corporate insiders regarding near-term equity dynamics or capital preservation strategies.
Generated by LLM from quantitative data inputs. May contain inaccuracies. Not investment advice.
Valuation Context
Currently trading 51% above its 5-year average P/E of 148.1x.
Price Chart with Moving Averages
Technical Setup
AI GeneratedIron Mountain Incorporated's current technical configuration presents a complex picture of potential institutional positioning within the Real Estate sector. The stock is trading at $126.46, where price action relative to moving averages may suggest that larger market participants are in a state of consolidation or re-evaluation rather than aggressive accumulation. If short-term crossovers have recently occurred against longer-term trends, this often indicates shifting sentiment among sophisticated traders who might be adjusting exposure based on changing macroeconomic expectations for storage and data management services. Such structural shifts can imply that institutional players are either trimming positions to lock in gains or cautiously rebuilding holdings while awaiting clearer directional confirmation from broader market indices. Volume analysis typically serves as a critical filter for validating these price movements, yet without specific volume spikes accompanying the current levels, it remains unclear whether large entities are actively driving supply or demand. The absence of significant volume expansion alongside minor price fluctuations could suggest that major funds are holding steady positions while monitoring external catalysts before committing additional capital. This behavior is consistent with institutions waiting for fundamental clarity regarding interest rate trajectories and real estate valuation metrics before making substantial adjustments to their portfolios. Consequently, the current setup reflects a period of strategic patience where larger players appear hesitant to declare a definitive directional bias until further technical or economic data emerges.
Quant Health Deep Dive
Profitability & Value Creation
DuPont Analysis — ROE Decomposition
Breaking down Return on Equity to see how the company generates its ROE — efficiency, margins, or leverage.
Balance Sheet Health
Insider Activity (Last 90 Days)
Open-market buys vs sells by company insiders. Source: yfinance.
Earnings Surprise History
EPS estimates vs actuals for the most recent reported quarters. Source: yfinance.
Dividend History
| Date | Amount | Change |
|---|---|---|
| 2026-03-16 | $0.8640 | 0.0% |
| 2025-12-15 | $0.8640 | +10.1% |
| 2025-09-15 | $0.7850 | 0.0% |
| 2025-06-16 | $0.7850 | 0.0% |
| 2025-03-17 | $0.7850 | +9.8% |
| 2024-12-16 | $0.7150 | 0.0% |
| 2024-09-16 | $0.7150 | +10.0% |
| 2024-06-17 | $0.6500 | 0.0% |
| 2024-03-14 | $0.6500 | 0.0% |
| 2023-12-14 | $0.6500 | 0.0% |
| 2023-09-14 | $0.6500 | +5.0% |
| 2023-06-14 | $0.6190 | 0.0% |
Dividend and split data from SEC filings and market data. Amounts are per share, not adjusted for splits. Source: yfinance.
Risk Profile
Sharpe = risk-adjusted return (higher is better). Max drawdown = largest peak-to-trough decline. 1,200+ trading days.
Underwater (Drawdown from Peak)
How far below the all-time high the price has been over time. Deeper = more pain for holders.
Rolling 60-Day Beta vs S&P 500 (VOO)
How the stock's sensitivity to market moves changes over time. β > 1 = more volatile than the market.
Fama-French 5-Factor Exposure
Academic factor model decomposition — what's really driving this stock's returns.
Fama-French 5-Factor Model. Data: Kenneth French Data Library. Regression over 3 years of daily returns.
Fundamentals
Passive Flow Attribution
ETF Draft EffectWhen investors buy or sell ETFs like XLRE or IYR, the fund manager is mechanically forced to buy or sell IRM shares regardless of Iron Mountain Incorporated's individual fundamentals. We estimate $6.5B of passive capital is structurally linked to IRM through 8 tracked ETFs. This substantial passive exposure means that ETF inflows and outflows — not company fundamentals — can dominate daily volume on this stock.
Passive exposure = Σ (ETF AUM × stock weight in ETF) across 8 tracked ETFs. Actual passive ownership is larger (includes mutual funds). Not investment advice.
ETF Contagion Visualizer
Simulate a price drop in Iron Mountain Incorporated to visualize passive redemption contagion across ETFs and collateral stocks.
If Iron Mountain Incorporated (IRM) experiences a significant drawdown, ETF redemptions can create collateral selling pressure on co-held stocks. Our model identifies Vanguard Real Estate II Index Fund Institutional Plus Shares (VRTPX) as the most exposed collateral stock, sharing 1 ETFs with IRM. This is the "Passive Contagion" effect described in the Inelastic Market Hypothesis.
Contagion model based on shared ETF exposure and constituent weights across 29 tracked ETFs. Estimated selling pressure is a simplified model — actual impact depends on market liquidity, ETF redemption mechanics, and market-maker activity.
IRM Ownership Dynamics
Passive funds hold 1 in every 5 IRM shares, reducing daily market volatility.
Iron Mountain Incorporated (IRM) exerts notable gravity on the passive index market, currently representing 3.9% of the State Street Real Estate Select Sector SPDR ETF (XLRE) and 2.4% of the iShares U.S. Real Estate ETF (IYR). Across 30 tracked ETFs, approximately 58M shares (19.5% of float) are held by passive funds and rarely trade on the open market. This level of passive ownership means index rebalances can create outsized volume events.
ETFs with Highest IRM Exposure
Float lock-up computed from 30 ETFs tracked by SecuritiesDB. Actual passive ownership is higher (includes mutual funds, pension funds, etc.).
IRM Institutional Volume Profile
252-day volume distribution by price level. The Point of Control (POC) marks — the price where the most institutional volume transacted — an implicit support/resistance floor.
The highest-volume price zone for Iron Mountain Incorporated over the past year sits near $98.50 (13% of 252-day volume). The current price of $128.46 trades 30.4% above this institutional floor — a sign of upside momentum, though a pullback to the POC zone is a common reversion target. The highly concentrated volume profile (13% at POC) indicates strong consensus on fair value — institutional participants have repeatedly transacted near this price.
Volume Profile computed from 252 trading days of OHLCV data. Volume allocated to price bins proportionally based on daily high-low range. Not investment advice.
IRM Capital Efficiency
How efficiently does Iron Mountain Incorporated convert operating profits into free cash? The FCF Conversion ratio measures the gap between accounting earnings and real cash generation.
Iron Mountain Incorporated converts -48% of its EBITDA into free cash flow, negative FCF conversion — the company is consuming cash faster than it generates EBITDA, which is unsustainable long-term. The 148% reinvestment rate signals aggressive capacity expansion. However, the ROIC-WACC spread is negative (-4.7%), suggesting reinvested capital is destroying shareholder value.
Capital efficiency = Free Cash Flow ÷ EBITDA. Reinvestment = (EBITDA − FCF) ÷ EBITDA. Metrics from latest annual filings. Not investment advice.
Fails-to-Deliver (FTD) History
SEC-reported settlement failures. Elevated FTDs can indicate high short-selling pressure, operational settlement issues, or naked shorting activity.
| Date | Failed Shares | Close Price | Notional Value |
|---|---|---|---|
| 2026-05-13 | 17 | $126.21 | $2,145.57 |
| 2026-05-08 | 547 | $126.81 | $69,365.07 |
| 2026-05-04 | 367 | $127.19 | $46,678.73 |
| 2026-04-29 | 4,792 | $112.62 | $539,675.04 |
| 2026-04-24 | 1,100 | $116.12 | $127,732 |
| 2026-04-20 | 13,069 | $118.07 | $1.5M |
| 2026-04-17 | 6,955 | $117.73 | $818,812.15 |
| 2026-04-15 | 3 | $114.03 | $342.09 |
| 2026-04-06 | 8 | $103.30 | $826.4 |
| 2026-04-02 | 2,278 | $100.95 | $229,964.1 |
| 2026-03-26 | 714 | $100.53 | $71,778.42 |
| 2026-03-25 | 30 | $100.71 | $3,021.3 |
| 2026-03-24 | 340 | $101.94 | $34,659.6 |
| 2026-03-16 | 100 | $106.84 | $10,684 |
| 2026-03-11 | 70 | $107.77 | $7,543.9 |
| 2026-03-10 | 51 | $107.14 | $5,464.14 |
| 2026-03-03 | 635 | $110.33 | $70,059.55 |
| 2026-02-23 | 384 | $110.29 | $42,351.36 |
| 2026-02-20 | 161 | $108.15 | $17,412.15 |
| 2026-02-09 | 800 | $95.78 | $76,624 |
| 2026-02-04 | 81 | $88.61 | $7,177.41 |
| 2026-02-03 | 17,951 | $89.42 | $1.6M |
| 2026-01-15 | 298 | $91.54 | $27,278.92 |
| 2026-01-12 | 376 | $89.19 | $33,535.44 |
| 2026-01-09 | 255 | $87.32 | $22,266.6 |
| 2025-12-29 | 59 | $81.99 | $4,837.41 |
| 2025-12-24 | 308 | $80.80 | $24,886.4 |
| 2025-12-17 | 216 | $81.00 | $17,496 |
| 2025-12-11 | 49,043 | $85.50 | $4.2M |
| 2025-12-09 | 12,823 | $84.43 | $1.1M |
Source: SEC Regulation SHO FTD data. Data is reported with a ~30 day delay. High FTD quantities relative to average daily volume may indicate settlement stress.
Price Correlations
Statistical correlation of daily returns with other stocks. High correlations indicate stocks that move together; negative correlations can offer diversification.
| Peer | 252-Day (1Y) | 126-Day (6M) | Direction |
|---|---|---|---|
| WTGXX | NaN | NaN | |
| DLR | 0.704 | 0.708 | High co-movement |
| VRTPX | 0.657 | 0.642 | Moderate |
| EQIX | 0.577 | 0.614 | Moderate |
| EGP | 0.457 | 0.378 | Moderate |
| LAMR | 0.430 | 0.384 | Moderate |
| WAB | 0.424 | 0.404 | Moderate |
| KIM | 0.423 | 0.407 | Moderate |
| CUBE | 0.416 | 0.384 | Moderate |
| BRX | 0.409 | 0.398 | Moderate |
Pearson correlation of daily log returns. 252d ≈ 1 trading year. Computed from price history. Not investment advice.
Compare IRM to Peers
Quant metrics computed deterministically from financial statements and price data. Updated: 2026-06-02.
SecuritiesDB provides programmatic data aggregation for informational purposes only. None of the metrics, summaries, or algorithmic flags constitute a recommendation to buy or sell any security.