NYSE: IRM · Specialty REITs
Iron Mountain (IRM) fair value: undervalued or overvalued?
As of 3 Oct 2026, Faircurve's model values Iron Mountain (IRM) at $58.39 a share. The stock last closed at $113.39, which puts the model's fair value 48.5% below the price. On the model's bands that reads as Overvalued.
Revalued . Price is the close of 2 Oct 2026. Iron Mountain Incorporated.
Faircurve Insights · 3 Oct 2026
Iron Mountain Incorporated was established in 1951 and is a world authority in storage and information management solutions. More than 225,000 organisations globally trust Iron Mountain with their critical assets.
Faircurve's model valued Iron Mountain Incorporated at $58.39 a share on 3 Oct 2026. This fair value blends three methods: a cash-flow multiple, a dividend model, and the value of the properties. The previous run on 26 Sep 2026 gave $59.25, so the fair value moved -1.5%. The model's calibrated range over 63 trading days was $104.00 to $130.84, and ranges built this way held the price 60% of the time at this horizon. The evidence grade for this valuation is High, reflecting the dividend record of at least three years of paid dividends with no cut.
The model grades the business quality against comparable companies Crown Castle Inc. (CCI), Digital Realty Trust, Inc. (DLR), SBA Communications Corporation (SBAC), American Tower Corporation (AMT), Lamar Advertising Company (LAMR), Weyerhaeuser Company (WY), and Equinix, Inc. (EQIX). Gaming and Leisure Properties, Inc. (GLPI) is a comparable company with no verdict on this date. The stock's median move around its last 8 earnings reports, ignoring direction, was 6.9%.
Written from the figures on this page for the 3 Oct 2026 valuation and checked by rule before publishing: every number is one printed here, no forecast, no instruction. The price, the gap and the verdict are the page's own and change daily. Not a recommendation.
What price range does the model give IRM?
The calibrated range for IRM over 63 trading days is $104.00 to $130.84. It sits around the last close, and its width comes from the volatility that IRM's own options imply (33% a year), calibrated weekly against realised prices (n = 3,562 past valuations, refreshed 3 Oct 2026). Ranges built this way held the price 60% of the time at this horizon. The fair value is the model's opinion and rides beside the range. It is not the centre of it.
The model's own range is $53.51 to $64.82.
How does IRM compare with similar companies?
The companies in specialty reits closest to Iron Mountain in market value, each on the same model and the same date.
| Company | Last close | Model fair value | Gap | Model verdict |
|---|---|---|---|---|
| CCI Crown Castle Inc. | $66.44 | $56.62 | -14.8% | Overvalued |
| DLR Digital Realty Trust, Inc. | $178.55 | $103.84 | -41.8% | Overvalued |
| SBAC SBA Communications Corporation | $158.49 | $192.73 | +21.6% | Undervalued |
| AMT American Tower Corporation | $162.20 | $195.99 | +20.8% | Undervalued |
| LAMR Lamar Advertising Company | $144.12 | $104.41 | -27.6% | Overvalued |
| WY Weyerhaeuser Company | $18.47 | $15.02 | -18.7% | Overvalued |
| EQIX Equinix, Inc. | $1,025.72 | $574.66 | -44.0% | Overvalued |
| GLPI Gaming and Leisure Properties, Inc. | $37.68 | $61.82 | +64.1% | Gap wider than 60% |
When does IRM report earnings, and how has the stock reacted?
Iron Mountain's next earnings report is scheduled for 4 Nov 2026. Companies can move their dates.
Options prices on 2 Oct 2026 imply a move of about 4.3% in either direction through the nearest expiry, about 13 days out. That is the size the market is pricing, not a direction. IRM's 30 day implied volatility works out to about 9.4% over one month.
How IRM moved around its last 8 earnings reports
Each move runs from the last close before the report to the first close after it, so it covers companies that report before the open and after the close. The median size across these 8 reports, ignoring direction, was 6.9%.
| Report date | Two session move |
|---|---|
| 5 Aug 2026 | -2.7% |
| 30 Apr 2026 | +11.1% |
| 12 Feb 2026 | +9.6% |
| 5 Nov 2025 | -2.4% |
| 6 Aug 2025 | -3.9% |
| 1 May 2025 | +6.8% |
| 13 Feb 2025 | -7.1% |
| 6 Nov 2024 | -7.0% |
Iron Mountain at a glance
Established in 1951, Iron Mountain Incorporated (NYSE: IRM) has become the world's foremost authority in storage and information management solutions. More than 225,000 organizations globally trust Iron Mountain with their critical assets.
- Market value
- $33.7B
- Sector
- Real Estate
- Industry
- Specialty REITs
- Beta to the US market
- 1.06
- First valued by Faircurve
- 4 Jul 2026
How the fair value is worked out: the model values Iron Mountain three ways and blends them; the range around the fair value comes from 2,000 simulations of the dividend model. The full method is documented here.
What changed in the latest valuation?
On 26 Sep 2026 the model's fair value for IRM was $59.25. As of 3 Oct 2026 it is $58.39, a change of -1.5%. The model revalues every stock it covers each week, and again after an earnings report.
Questions about Iron Mountain's valuation
Is Iron Mountain stock undervalued or overvalued?
On Faircurve's model, IRM reads as Overvalued as of 3 Oct 2026. The model's fair value is $58.39 a share against a last close of $113.39, a gap of -48.5%.
What is IRM's fair value?
$58.39 a share as of 3 Oct 2026. The fair value blends three methods: a cash-flow multiple against comparable companies, a dividend model, and the value of the properties. The model's own range is $53.51 to $64.82.
What price range does the model give IRM?
$104.00 to $130.84 over 63 trading days. Ranges built this way held the price 60% of the time across 3,562 past valuations, refreshed 3 Oct 2026.
When does Iron Mountain report earnings next?
The next report is scheduled for 4 Nov 2026. Companies can move their dates.
How much has IRM moved on past earnings reports?
Across its last 8 reports the median two session move was 6.9%, ignoring direction. The largest was +11.1% around the report of 30 Apr 2026.
How confident is the model in this valuation?
The model's evidence grade for IRM is high. For real estate investment trusts (REITs) the grade looks at the dividend record: at least three years of paid dividends with no cut. It is not a probability that the fair value is right, or that the price reaches it.