IRM
Iron Mountain IncorporatedEvidence as of 2026-09-28The desk's Snapshot
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Overview · Iron Mountain Incorporated
Iron Mountain Incorporated (NYSE: IRM) is a global leader in innovative storage, data center infrastructure, asset lifecycle management and information management services. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain helps customers CLIMB HIGHER to transform their businesses. Through a range of offerings including digital transformation, data centers, secure records storage, in…
Management team
- Ms. Ellen Hall · Global Head of Real Estate Investment & Corporate DevelopmentFind on LinkedIn
- Mr. Garry B. Watzke · Senior Vice PresidentFind on LinkedIn
- Mr. Edward E. Greene · Executive VP & Chief Human Resources OfficerFind on LinkedIn
- Ms. Deborah Marson · Executive VP, General Counsel & SecretaryFind on LinkedIn
Start free to see the full management team.
Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it, not a rating or a recommendation.
−0.5 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled. The rest of the page is the evidence behind it.
Revenue rose from $1,936,149,000 in Q1 2026 (fiscal quarter ended 2026-04-24) to $2,029,062,000 in Q2 2026 (fiscal quarter ended 2026-07-24), a quarter-over-quarter increase of $92,913,000 (≈ 4.8%). Operating income fell from $395,230,000 in Q1 2026 to $373,528,000 in Q2 2026 (a decline of $21,702,000, ≈ 5.5%), and diluted EPS declined from $0.48 to $0.34 across the same quarters. Long-term debt increased by $246,668,000 to $17,349,649,000 as of 2026-06-30, total assets rose to $21,955,442,000, and stockholders’ equity became more negative by $65,909,000 to −$1,280,920,000.
Market and ownership signals coexist with these fundamentals: IRM shows a golden cross (cross age 142 days) and a trailing dividend yield of 3.10% with three-year dividend growth of 11.3%, while momentum measures are mixed (+36.7% on a 12_1 basis, −15.9% over three months). Valuation metrics include a P/E (TTM) of 117.24, EV/EBITDA (TTM) of 20.93, negative free cash flow (TTM) of −$1,045,136,000, market cap of $33,158,139,201 and enterprise value of $50,257,078,201. The evidence balance is characterized as Cautious (−0.5) with high confidence.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else (no outside knowledge, no browsing), so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC (revenue, margins, income, debt and share count, quarter by quarter) and reports which way the trend is running.
Revenue increased from $1,936,149,000 in fiscal Q1 2026 (2026-01-01 to 2026-03-31, 3mo) to $2,029,062,000 in fiscal Q2 2026 (2026-04-01 to 2026-06-30, 3mo), a quarter-over-quarter rise of $92,913,000 (≈4.8%).
XBRL companyfacts · 0001020569-26-000039Operating income declined from $395,230,000 in fiscal Q1 2026 (2026-01-01 to 2026-03-31, 3mo) to $373,528,000 in fiscal Q2 2026 (2026-04-01 to 2026-06-30, 3mo), a decrease of $21,702,000 (≈5.5%).
XBRL companyfacts · 0001020569-26-000039Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full: its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet; its risk analysis fills in once that lands.
The Form 10-K filed 2026-02-12 states management completed Project Matterhorn in 2025 and incurred approximately $574.4 million in restructuring and transformation costs related to Project Matterhorn since inception, including approximately $195.9 million in 2025 and $161.4 million in 2024.
10-K filed 2026-02-12The Form 10-K filed 2026-02-12 contains new or emphasized risk language added in the 2025 filing that the development and use of AI in the company's business and operations presents risks and challenges that may adversely impact the business and operating results.
10-K filed 2026-02-12Reads the signal panel above (momentum, volatility, drawdown, relative strength and beta) and ranks each against the whole research universe rather than judging it in isolation.
As of 2026-09-25, IRM's 12_1 momentum is +36.7% and ranks in the 77th percentile of the 563-stock research universe.
Moneyta signal set · 2026-09-25weakened in debateAs of 2026-09-25, IRM's 6-month momentum is +11.9% but its 3-month momentum is -15.9%, with the 6-month momentum ranking in the 55th percentile of the 563-stock universe.
Moneyta signal set · 2026-09-25weakened in debateReads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
Institutional investors reported a combined holding value of "$30.62B" in the 13F portfolio for the period ending 2026-06-30.
13F holdings · 1177 filers · as of 2026-06-30Top reported institutional holders in the 13F as of 2026-06-30 include BlackRock, Inc. with "$4.24B", VANGUARD PORTFOLIO MANAGEMENT LLC with "$3.23B", and VANGUARD CAPITAL MANAGEMENT LLC with "$2.39B".
13F holdings · 1177 filers · as of 2026-06-30Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
A September 28, 2026 announcement reports Iron Mountain was included for the first time in four industry analyst reports from Gartner, IDC, and Forrester.
News · finance.yahoo.com · 2026-09-28A market research piece (IT Asset Disposition Global Market Report 2026) names Iron Mountain among benchmarked vendors in a report that highlights an expected market expansion and competitive positioning for firms in secure asset lifecycle services.
News · finance.yahoo.com · 2026-09-28Reads parsed Forms 3/4/5: who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
William L Meaney (President and CEO) reported a 10b5-1 plan sale of 38,474 shares valued at "$1.4M" on 2026-09-01.
Form 4 · Meaney William L (President and CEO) · $1.4M code M · 2026-09-01The same 10b5-1 plan filing for William L Meaney shows additional sales on 2026-09-01 of 11,332 shares ("$1.3M"), 20,952 shares ("$2.4M"), 6,101 shares ("$702k"), and 89 shares ("$10k").
Form 4 · Meaney William L (President and CEO) · $1.4M code M · 2026-09-01Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
Price-to-earnings (TTM) is 117.24.
Valuation inputs · SEC XBRL + stored EOD closeEnterprise-value-to-EBITDA (TTM) is 20.93.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score. The argument is shown, not hidden, so you can judge the reasoning yourself.
Several claims together support a favorable read: quarter-over-quarter revenue growth (fundamentals-0), completed restructuring related to Project Matterhorn (filings-0) and strong trailing EBITDA/operating income on a TTM basis (valuation-3) indicate improving top-line momentum while transformation costs are already incurred. Market-technical and income features — a long-standing golden cross and above-average dividend yield with multi-year growth (market-2, market-3) — align with increased institutional ownership and fresh analyst initiation/coverage (ownership-0, news-0, third-party street consensus) that frame the company as a sector-relevant infrastructure/data-center play (news-1, filings-5). The quarter EPS and operating income softness (fundamentals-1, fundamentals-2) can be viewed in the context of deliberate transformation spending and modest share count increase (filings-0, fundamentals-3), while long-term debt increases are incremental relative to total assets and enterprise value (fundamentals-4, valuation-4). Financial advisors often suggest that when restructuring or growth investments complete, historical operating metrics and institutional conviction can be relevant signals for reassessing fundamentals; here the provided claims show multiple supportive data points.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.36
38 surviving claims rest on 15 distinct sources; the heaviest analyst carries 16% of them, and 97% of what the desk raised survived the debate.
The surviving read relies on a moderate spread of sources (15) and most points were retained through internal debate, which raises confidence in the desk’s internal consistency. However, a non-trivial share of claims cluster around a few filings and one analyst accounts for a meaningful slice of interpretation, so individual claims that come from the same primary filings or that depend heavily on that analyst should carry less independent weight.
Peer context · computed, not argued
12-1 momentum ranks 2nd of 7 in REIT—Specialty (as of 2026-09-25).
90-day volatility ranks 4th of 7 in REIT—Specialty (as of 2026-09-25).
dividend yield ranks 4th of 7 in REIT—Specialty (as of 2026-09-25).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment. When the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here (no outside knowledge, no browsing), and each card shows who read it and what it contributed to the score.
14 filings· 2 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data, not retyped or estimated.
Read by Mercer−0.3 to the score
7 documents· 3 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes−0.5 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash+0.3 to the score
3 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.4 to the score
5 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
3 filings· 1 cited
Insider filings
Parsed Forms 3/4/5 from EDGAR: named insiders, share counts, prices, and 10b5-1 plan state, with stated and inferred flags kept apart.
Read by Talbot−1.0 to the score
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only; it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal; the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
The full terminal on IRM Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
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Educational analysis of published data. Moneyta does not give investment advice or make recommendations.