Question 1

What is Iron Mountain's P/FCF ratio?

Accepted Answer

Iron Mountain (IRM) P/FCF ratio is 1279.8× as of August 2, 2023. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Iron Mountain?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Iron Mountain specifically, the relevant sector benchmark is the current sector median of 17.0×.

Question 5

Is Iron Mountain's P/FCF ratio high or low?

Accepted Answer

Iron Mountain's P/FCF ratio of 1279.8× is above its own 5-year average of 278.5× and above the sector median of 17.0×. That places the current reading at the 98th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Iron Mountain's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Iron Mountain (IRM) P/FCF ratio has ranged from a low of 13.7× in 2011 to a high of 1393.9× in 2006. The 5-year average is 278.5× and the 5-year median is 187.8×.

Question 7

What was Iron Mountain's P/FCF ratio in 2022?

Accepted Answer

Iron Mountain (IRM) P/FCF ratio at the end of 2022 was 329.1×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Iron Mountain's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$24.72B	−$931.63M	—	—	Dec 31, 2025
2024	$30.84B	−$657.24M	—	—	Dec 31, 2024
2023	$20.46B	−$231.53M	—	—	Dec 31, 2023
2022	$14.52B	$44.11M	329.1×	+216.3×	Dec 31, 2022
2021	$15.18B	$134.53M	112.8×	+96.9×	Dec 31, 2021
2020	$8.50B	$534.40M	15.9×	-26.0×	Dec 31, 2020
2019	$9.16B	$218.20M	42.0×	+18.9×	Dec 31, 2019
2018	$9.28B	$403.01M	23.0×	-11.7×	Dec 31, 2018
2017	$10.49B	$302.65M	34.7×	-17.3×	Dec 31, 2017
2016	$8.56B	$164.53M	52.0×	+23.0×	Dec 31, 2016
2015	$5.70B	$196.40M	29.0×	-73.7×	Dec 31, 2015
2014	$7.87B	$76.58M	102.7×	+72.1×	Dec 31, 2014
2013	$5.82B	$190.06M	30.6×	-3.7×	Dec 31, 2013
2012	$5.59B	$163.18M	34.3×	+20.5×	Dec 31, 2012
2011	$5.28B	$384.82M	13.7×	-0.7×	Dec 31, 2011
2010	$5.01B	$346.18M	14.5×	-1.3×	Dec 31, 2010
2009	$4.63B	$293.39M	15.8×	-24.0×	Dec 31, 2009
2008	$4.99B	$125.46M	39.8×	-35.8×	Dec 31, 2008
2007	$7.42B	$98.20M	75.6×	—	Dec 31, 2007
2006	$5.48B	−$21.94M	—	—	Dec 31, 2006
2005	$5.54B	$84.22M	65.8×	+12.0×	Dec 31, 2005
2004	$3.95B	$73.40M	53.8×	—	Dec 31, 2004
2003	$3.38B	−$36.13M	—	—	Dec 31, 2003
2002	$2.81B	$57.95M	48.5×	—	Dec 31, 2002
2001	$2.46B	−$36.13M	—	—	Dec 31, 2001


Simon Property Group (SPG)	18.5×
SBA Communications (SBAC)	17.9×
BXP (BXP)	17.7×
Equity Residential (EQR)	17.6×
Federal Realty Investment Trust (FRT)	17.3×
STAG Industrial (STAG)	17.2×
Tanger (SKT)	17.0×
Essex Property Trust (ESS)	16.2×
Extra Space Storage (EXR)	15.8×
Public Storage (PSA)	15.5×
AvalonBay Communities (AVB)	15.2×
Camden Property Trust (CPT)	14.3×
Realty Income (O)	13.6×
Invitation Homes (INVH)	13.3×
Crown Castle (CCI)	13.0×
Medical Properties Trust (MPT)	12.8×
Host Hotels & Resorts (HST)	12.7×
UDR (UDR)	12.4×
NNN REIT (NNN)	12.2×
VICI Properties (VICI)	11.4×
Universal Health Realty Income Trust (UHT)	11.3×
Healthpeak Properties (DOC)	9.7×
Arbor Realty Trust (ABR)	7.6×
Alexandria Real Estate Equities (ARE)	6.2×
Opendoor Technologies (OPEN)	4.2×

P/FCF Ratio for Iron Mountain (IRM)

P/FCF Ratio daily chart for Iron Mountain (IRM)

Historical P/FCF Ratio for Iron Mountain (IRM) from 2001 to 2025

About P/FCF Ratio at Iron Mountain (IRM)

Iron Mountain P/FCF Ratio by Year

Iron Mountain P/FCF Ratio 2022: 329.1×

Iron Mountain P/FCF Ratio 2021: 112.8×

Iron Mountain P/FCF Ratio 2020: 15.9×

Iron Mountain P/FCF Ratio 2019: 42.0×

Iron Mountain P/FCF Ratio 2018: 23.0×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Iron Mountain (IRM) Key Financials

P/FCF Ratio daily chart for Iron Mountain (IRM)

Historical P/FCF Ratio for Iron Mountain (IRM) from 2001 to 2025

About P/FCF Ratio at Iron Mountain (IRM)

Iron Mountain P/FCF Ratio by Year

Iron Mountain P/FCF Ratio 2022: 329.1×

Iron Mountain P/FCF Ratio 2021: 112.8×

Iron Mountain P/FCF Ratio 2020: 15.9×

Iron Mountain P/FCF Ratio 2019: 42.0×

Iron Mountain P/FCF Ratio 2018: 23.0×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

+What is Iron Mountain's P/FCF ratio?

+How is the P/FCF ratio calculated?

+What is the P/FCF ratio?

+What is a good P/FCF ratio for Iron Mountain?

+Is Iron Mountain's P/FCF ratio high or low?

+What is Iron Mountain's historical P/FCF ratio range?

+What was Iron Mountain's P/FCF ratio in 2022?

+Why does Iron Mountain's P/FCF ratio change over time?

Iron Mountain (IRM) Key Financials