Iron Mountain (IRM)
NYSEReal EstateReit - SpecialtySnapshot 2026-11-05
$105.50-11.09%
Close 2026-11-05 · 1-day change
NYSEReal EstateReit - SpecialtySnapshot 2026-11-05
QuarterlyIQ Insights · IRM
What must go right, what could break, what the price assumes, and what evidence comes next.
The current health of the standing investment case.
Recent financial performance is holding in the top half of its industry — the reason to own it looks intact.
One-year growth currently built into the price, compared with our model's estimate.
| Measure | Marker shape | Value |
|---|---|---|
| Growth built into the price | circle | 15.1% |
| Our one-year growth estimate | diamond | 13.6% |
For each item: what to watch, what would become a concern, and what would make it less concerning.
A reporting-risk estimate, not a forecast of the stock-price response.
Historical relationships that met the evidence threshold. They do not prove cause or forecast a move.
Usually moved in the same direction.
Price observations: 365 days
Usually moved in the opposite direction.
Price observations: 365 days
Most sensitive to the broad stock market and real (inflation-adjusted) rates.
Based on historical daily prices through 2026-11-05.
Past price behavior in dollars on a $10,000 position. This does not measure permanent business risk.
How much price usually moves either way.
Use the underlying financial and sector pages to investigate the cause.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Growth built into the price is above our model estimate.
The price assumes 1.6 percentage points more one-year growth.
The one-year revenue growth assumption on Valuation.
Model as of 2026-11-05 · Compared with 9 industry peers · Company calendar date is not available
IRM — earnings miss
Dated 2026-11-05
Results of Operations and Financial Condition. On November 5, 2026, Iron Mountain Incorporated, or the Company, issued an earnings press release and supplemental financial information for the quarter ended September 30, 2026. In addition, the Company will be using a slide presentation during its earnings conference call. Copies of the earnings press release, slide presentation and supplemental financial information are furnished as Exhibits 99.1, 99.2 and 99.3, respectively, hereto and posted…
Why it matters: Q2 adjusted EBITDA grew 15.7%, but its margin fell 90 basis points. Growth near the Q3 guide would show earnings kept pace.
Worry ifQ3 adjusted EBITDA grows about 13% year over year or more, in line with company guidance.
Less concerning ifQ3 adjusted EBITDA growth is below 13%, or the company cuts its 2026 range of $2.945 billion to $2.975 billion.
Why it matters: Leasing rose from 32 megawatts through April to 110 through July. More signed capacity would support this growth plan.
Supportive ifThe next company update reports more than 110 megawatts leased after July. It also reports new signed leases.
Worry ifThe next company update reports 110 megawatts or less leased, or says leases have slowed.
Why it matters: Q2 revenue rose 18.5%, and the company raised its 2026 revenue range. A Q3 result above its guide would back that growth story.
Supportive ifOn November 5, Q3 revenue is above $1.98 billion, the company’s stated guide.
Worry ifQ3 revenue is below $1.98 billion, or the company cuts its 2026 revenue range of $7.94 billion to $8.01 billion.
Why it matters: AFFO per share rose 16.1% in Q2. A Q3 result above the guide would support the company’s higher full-year range.
Supportive ifQ3 AFFO per share is above $1.47, the company’s stated guide.
Worry ifQ3 AFFO per share is below $1.47, or the company cuts its 2026 range of $5.87 to $5.93.
We watch for confirming and disproving signals on each item. Resolutions are found automatically where possible and checked by hand for unclear cases. Last 90 days shown.
A larger daily loss that occurred about once in every 20 trading days.
Deepest peak-to-trough drop in the last year.
| Measure | Value | Meaning |
|---|---|---|
| Typical day | ±$122 on $10,000 · ±1.2% | How much price usually moves either way. |
| Bad day | $375 loss on $10,000 · 3.7% | A larger daily loss that occurred about once in every 20 trading days. |
| Largest peak-to-trough drop in the past year | $2,347 loss on $10,000 · 23.5% | Deepest peak-to-trough drop in the last year. |
Past year. 1.00 means similar movement; 1.20 means about 20% more.
Past year. 1.00 means similar movement to the sector. This is secondary context.
Latest 30 trading days, shown as an annual percentage.
Latest 252 trading days, shown as an annual percentage.
20-trading-day average in US dollars.
Trading days used by the source risk snapshot.
Past results, not a forecast. Not investment advice.
Why it matters: The real estate sector is in a mature phase, but recent data hints at a shift. More company revenue growth would support that change.
Watch forOrganic revenue growth stays at or above 16.8% year over year in the next reported quarter.
Also watch forOrganic revenue growth falls below 10% year over year in the next reported quarter.