Iron Mountain Inc

Iron Mountain Inc maintains a capital structure characterized by significant leverage, with long-term debt of $16.22 billion against total equity of -$0.98 billion, resulting in a negative debt-to-equity ratio of -16.53. The company holds $158.54 million in cash and equivalents, which is insufficient to cover its debt obligations, leading to a negative net cash position. Liquidity is assessed as medium risk, supported by operating cash flow of $1.34 billion, though this is partially offset by substantial capital expenditures of $2.27 billion. The current ratio and other short-term liquidity metrics are not explicitly detailed in the snapshot, but the heavy debt load relative to equity indicates a reliance on continuous cash flow generation to service obligations.

Profitability metrics reveal a high valuation multiple relative to earnings, with a price-to-earnings ratio of 136.86 and an EV/EBITDA of 40.87. Return on equity is negative at -27.76%, reflecting the negative equity base, while return on assets stands at 1.29%. Operating income is $1.16 billion on revenue of $6.90 billion, indicating an operating margin of approximately 16.9%. The high P/E and EV/EBITDA multiples suggest that the market is pricing in significant future growth or stability in cash flows, despite the current accounting earnings being low relative to the market capitalization of $37.27 billion.

Revenue concentration and geographic exposure details are not provided in the available data segments. Without specific segment or geographic breakdowns, the analysis cannot assess the diversification of revenue streams or regional risks. The company’s activity as a Specialized REIT implies a focus on physical infrastructure for information management, but the specific mix of digital versus physical services is not quantified in the current snapshot.

Growth trajectory analysis is limited by the absence of historical period data in the input. The current revenue of $6.90 billion serves as the baseline, but without year-over-year or quarterly trend data, the direction and velocity of revenue growth cannot be determined from the provided financial snapshot. The high capital expenditure of $2.27 billion suggests ongoing investment in infrastructure, which may support future revenue growth, but the immediate trend is unclear.

Risk factors include medium liquidity risk and medium dilution risk. Key flags indicate that net cash is negative after subtracting total debt, and source documents mention dilution or offering risk. The negative equity position amplifies financial risk, as any further decline in asset values or increase in debt could exacerbate the leverage ratio. The dilution risk suggests potential issuance of new shares, which could impact earnings per share and existing shareholder value.

Recent events include analyst estimates with a mean price target of $142.11 and a median of $141.00, indicating a positive outlook from the analyst community. The mean recommendation is 2.00, with 2 strong buys and 9 buys, and no holds, suggesting strong consensus for the stock. However, news event observations indicate a failed analysis re-drive, which is a technical issue and not a fundamental business event. The analyst sentiment remains positive, with a high price target of $149.00 and a low of $135.00, all above the current market price of $125.99.

Revenue grew 12.2% year-over-year to $6.9 billion in fiscal 2026, demonstrating strong top-line expansion.

Operating income increased 15.9% to $1.16 billion, indicating improved operational efficiency and cost management.

Analysts maintain a buy recommendation with a mean price target of $126.89, suggesting modest upside potential.

Cash conversion ratio of 4.92 ranks best-in-class within the cohort, highlighting efficient cash generation capabilities.

Long-term debt surged to $16.4 billion, resulting in a high leverage band and elevated credit risk.

Revenue $1.94B, +21,6% YoY; Operating income +55,4% YoY.

• ▍Revenue $1.94B, +21,6% YoY
• ▍Operating income +55,4% YoY
• ▍Net income +800,6% YoY
• ▍Free cash flow +41,6% YoY
• ▍Net margin 7.4%

Revenue $1.84B, +16,6% YoY; Operating income +20,9% YoY.

• ▍Revenue $1.84B, +16,6% YoY
• ▍Operating income +20,9% YoY
• ▍Net income −14,1% YoY
• ▍Free cash flow +20,6% YoY
• ▍Net margin 4.8%

Revenue $1.75B, +12,6% YoY; Operating income +25,6% YoY.

• ▍Revenue $1.75B, +12,6% YoY
• ▍Operating income +25,6% YoY
• ▍Net income +350,7% YoY
• ▍Free cash flow −4,9% YoY
• ▍Net margin 4.8%

Revenue $1.71B, +11,6% YoY; Operating income +12,8% YoY.

• ▍Revenue $1.71B, +11,6% YoY
• ▍Operating income +12,8% YoY
• ▍Net income −225,5% YoY
• ▍Free cash flow −73,7% YoY
• ▍Net margin -2.6%

Revenue $1.59B; Operating income $254.3M.

• ▍Revenue $1.59B
• ▍Operating income $254.3M
• ▍Net margin 1.0%

Revenue $1.58B; Operating income $282.2M.

• ▍Revenue $1.58B
• ▍Operating income $282.2M
• ▍Net margin 6.6%

Revenue $1.56B; Operating income $245.7M.

• ▍Revenue $1.56B
• ▍Operating income $245.7M
• ▍Net margin -2.2%

Revenue $1.53B; Operating income $230.3M.

• ▍Revenue $1.53B
• ▍Operating income $230.3M
• ▍Net margin 2.3%

Revenue $6.90B, +12,2% YoY; Operating income +15,9% YoY.

• ▍Revenue $6.90B, +12,2% YoY
• ▍Operating income +15,9% YoY
• ▍Net income −19,7% YoY
• ▍Free cash flow −34,1% YoY
• ▍Net margin 2.1%

Revenue $6.15B, +12,2% YoY; Operating income +8,9% YoY.

• ▍Revenue $6.15B, +12,2% YoY
• ▍Operating income +8,9% YoY
• ▍Net income −2,2% YoY
• ▍Free cash flow −39,3% YoY
• ▍Net margin 2.9%

Revenue $5.48B, +7,4% YoY; Operating income −12,1% YoY.

• ▍Revenue $5.48B, +7,4% YoY
• ▍Operating income −12,1% YoY
• ▍Net income −66,9% YoY
• ▍Free cash flow −251,7% YoY
• ▍Net margin 3.4%

Revenue $5.10B, +13,6% YoY; Operating income +22,8% YoY.

• ▍Revenue $5.10B, +13,6% YoY
• ▍Operating income +22,8% YoY
• ▍Net income +23,7% YoY
• ▍Free cash flow −51,9% YoY
• ▍Net margin 10.9%