---
title: Iron Mountain (IRM) — REIT card
canonical: https://sweetvaluelab.com/tools/reits/irm
ticker: IRM
property_type: Data centers
as_of: 2026-10-16
---
# Iron Mountain (IRM) — REIT card

Iron Mountain, a data centers REIT, trades at 21.1× trailing Cash FFO with a 3.1% dividend yield, 64.9% of Cash FFO; net debt is 7.9× EBITDA. Prices as of Oct 16, 2026; trailing-twelve-month figures through Jun 30, 2026.

## The card

| Figure | IRM | Data centers average (2) |
| --- | ---: | ---: |
| Price | $112.51 |  |
| Cash FFO (TTM) | $1.6B |  |
| Cash FFO per share | $5.32 |  |
| P/Cash FFO | 21.1× | 22.8× |
| P/E | 80.4 |  |
| Dividend per share (TTM) | $3.46 |  |
| Dividend yield | 3.1% | 2.4% |
| Yield spread over the 10-year | -2.0% |  |
| Cash FFO payout | 64.9% | 55.1% |
| Cash FFO growth (YoY) | 24.2% | 21.2% |
| Cash FFO CAGR (3y) | 10.0% |  |
| Net debt / EBITDA | 7.9× | 5.1× |
| Interest cover | 2.7× | 7.2× |
| Debt / assets | 88.4% |  |
| EBITDA margin | 32.6% | 45.5% |
| Market value | $33.7B |  |
| Enterprise value | $53.1B |  |

## Lights

- Net debt is 7.9× EBITDA; refinancing sets the agenda

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Source: https://sweetvaluelab.com/tools/reits/irm (SweetValueLab, free, no account). Quarterly statements from Financial Modeling Prep, closes from the daily price cache; the engine's rules are on the board page. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.