Is IRM a good stock to buy? We came across a bullish thesis on Iron Mountain Incorporated on X.com by @MoneyShow. In this article, we will summarize the bulls’ thesis on IRM. Iron Mountain Incorporated’s share was trading at $123.50 as of June 8th. IRM’s trailing and forward P/E were 135.50 and 62.50 respectively according to Yahoo Finance.
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Iron Mountain Incorporated is a global leader in information management services, and is trusted by more than 240,000 customers in 61 countries. IRM is positioned as a unique long-term investment opportunity that combines the stability of a Real Estate Investment Trust (REIT) with the secular growth potential of digital infrastructure and data storage. The company operates a global information management platform serving more than 240,000 customers across 61 countries and generates approximately $6.9 billion in annual revenue.
Originally founded in 1951 as Iron Mountain Atomic Storage Corporation, the business began by securely storing corporate records in a depleted iron ore mine designed to withstand extreme events. Over decades, Iron Mountain expanded through acquisitions and organic growth, eventually becoming a dominant player in physical document storage before adapting to the digital era through investments in data centers and cloud-related infrastructure.
The company established its data center division in 2013 and converted into a REIT in 2014, allowing it to capitalize on rising enterprise demand for secure data storage and digital infrastructure solutions. Iron Mountain estimates its total addressable market at roughly $170 billion, leaving substantial room for future expansion relative to its current scale.
The company’s fastest-growing segments continue to reinforce the bullish thesis, with Data Center revenue increasing 30% and ALM revenue growing 63% in 2025, despite these businesses accounting for only 28% of total revenue while contributing nearly two-thirds of overall revenue growth. In addition to growth, Iron Mountain offers an attractive shareholder return profile through its dividend, which currently yields about 3.2% and has grown by 10% annually over the last four years, supporting the case for durable long-term upside.
Previously, we covered a bullish thesis on Extra Space Storage Inc. (EXR) by Antoni Nabzdyk in December 2024, which highlighted the company’s undervalued self-storage REIT model and growth through acquisitions. EXR’s stock price has depreciated by approximately 2.08% since our coverage. @MoneyShow shares a similar view but emphasizes on Iron Mountain Incorporated’s (IRM) digital infrastructure and data center expansion driving long-term growth.
Iron Mountain Incorporated is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 40 hedge fund portfolios held IRM at the end of the first quarter which was 37 in the previous quarter. While we acknowledge the risk and potential of IRM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than IRM and that has 10,000% upside potential, check out our report about this cheapest AI stock.
Disclosure: None.
