Question 1

What is Iron Mountain's P/B ratio?

Accepted Answer

Iron Mountain (IRM) P/B ratio is 1633.6× as of July 31, 2024. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. 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/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

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

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Iron Mountain specifically, the relevant sector benchmark is the current sector median of 2.1×.

Question 5

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

Accepted Answer

Iron Mountain's P/B ratio of 1633.6× is above its own 5-year average of 134.9× and above the sector median of 2.1×. That places the current reading at the 100th 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/B ratio range?

Accepted Answer

In the available daily series, Iron Mountain (IRM) P/B ratio has ranged from a low of 2.2× in 2009 to a high of 1633.6× in 2024. The 5-year average is 134.9× and the 5-year median is 23.5×.

Question 7

What was Iron Mountain's P/B ratio in 2023?

Accepted Answer

Iron Mountain (IRM) P/B ratio at the end of 2023 was 96.7×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). 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	−$981.01M	—	—	Dec 31, 2025
2024	$30.84B	−$503.12M	—	—	Dec 31, 2024
2023	$20.46B	$211.65M	96.7×	+73.9×	Dec 31, 2023
2022	$14.52B	$636.67M	22.8×	+5.1×	Dec 31, 2022
2021	$15.18B	$855.95M	17.7×	+10.3×	Dec 31, 2021
2020	$8.50B	$1.14B	7.5×	+1.2×	Dec 31, 2020
2019	$9.16B	$1.46B	6.3×	+1.3×	Dec 31, 2019
2018	$9.28B	$1.86B	5.0×	+0.4×	Dec 31, 2018
2017	$10.49B	$2.30B	4.6×	+0.1×	Dec 31, 2017
2016	$8.56B	$1.94B	4.4×	-6.8×	Dec 31, 2016
2015	$5.70B	$508.84M	11.2×	+2.0×	Dec 31, 2015
2014	$7.87B	$856.36M	9.2×	+3.6×	Dec 31, 2014
2013	$5.82B	$1.04B	5.6×	+0.7×	Dec 31, 2013
2012	$5.59B	$1.15B	4.9×	+0.6×	Dec 31, 2012
2011	$5.28B	$1.25B	4.2×	+1.7×	Dec 31, 2011
2010	$5.01B	$1.96B	2.6×	+0.4×	Dec 31, 2010
2009	$4.63B	$2.15B	2.2×	-0.6×	Dec 31, 2009
2008	$4.99B	$1.80B	2.8×	-1.4×	Dec 31, 2008
2007	$7.42B	$1.80B	4.1×	+0.6×	Dec 31, 2007
2006	$5.48B	$1.55B	3.5×	-0.5×	Dec 31, 2006
2005	$5.54B	$1.37B	4.0×	+0.8×	Dec 31, 2005
2004	$3.95B	$1.22B	3.2×	+0.1×	Dec 31, 2004
2003	$3.38B	$1.07B	3.2×	+0.2×	Dec 31, 2003
2002	$2.81B	$944.86M	3.0×	+0.2×	Dec 31, 2002
2001	$2.46B	$885.96M	2.8×	—	Dec 31, 2001


Essex Property Trust (ESS)	2.9×
Federal Realty Investment Trust (FRT)	2.8×
Digital Realty Trust (DLR)	2.7×
Mid-America Apartment Communities (MAA)	2.6×
Camden Property Trust (CPT)	2.5×
Prologis (PLD)	2.3×
CoStar Group (CSGP)	2.1×
Equity Residential (EQR)	2.1×
Regency Centers (REG)	2.1×
Extra Space Storage (EXR)	2.1×
AvalonBay Communities (AVB)	1.9×
Host Hotels & Resorts (HST)	1.9×
STAG Industrial (STAG)	1.9×
NNN REIT (NNN)	1.8×
Invitation Homes (INVH)	1.7×
BXP (BXP)	1.6×
Healthpeak Properties (DOC)	1.5×
Kimco Realty (KIM)	1.5×
Agree Realty (ADC)	1.4×
Realty Income (O)	1.4×
VICI Properties (VICI)	1.0×
Apartment Investment and Management (AIV)	0.8×
Medical Properties Trust (MPT)	0.6×
Alexandria Real Estate Equities (ARE)	0.6×
Arbor Realty Trust (ABR)	0.5×

P/B Ratio for Iron Mountain (IRM)

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

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

About P/B Ratio at Iron Mountain (IRM)

Iron Mountain P/B Ratio by Year

Iron Mountain P/B Ratio 2023: 96.7×

Iron Mountain P/B Ratio 2022: 22.8×

Iron Mountain P/B Ratio 2021: 17.7×

Iron Mountain P/B Ratio 2020: 7.5×

Iron Mountain P/B Ratio 2019: 6.3×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Iron Mountain (IRM) Key Financials

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

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

About P/B Ratio at Iron Mountain (IRM)

Iron Mountain P/B Ratio by Year

Iron Mountain P/B Ratio 2023: 96.7×

Iron Mountain P/B Ratio 2022: 22.8×

Iron Mountain P/B Ratio 2021: 17.7×

Iron Mountain P/B Ratio 2020: 7.5×

Iron Mountain P/B Ratio 2019: 6.3×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

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

+How is the P/B ratio calculated?

+What is the P/B ratio?

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

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

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

+What was Iron Mountain's P/B ratio in 2023?

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

Iron Mountain (IRM) Key Financials