Iron Mountain Incorporated (Del — Earnings Quality Grade F
IRM · Real Estate
Major red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 76 days, change -0 days YoY
AR growth 11.8% vs revenue growth 12.2%
Revenue 12.2%, CFFO 12.0%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth 26.6% is >2x revenue growth 12.2%
SG&A/Gross Profit = 36.5%. Normal
Gross margin 55.4%, change -0.8pp. Stable
Cash Flow Quality
CFFO/NI = 9.27. Profits backed by cash
FCF < 50% of Net Income for 3 years
Accruals ratio = -5.7%. Low accruals
Cash $0.2B covers only 1% of debt $19.1B
Balance Sheet Health
Goodwill+Intangibles $6.6B = -668% of equity. Manageable
Debt/EBITDA = 9.0x (>4x). Interest coverage = 1.7x (<2x). Financial stress
Other assets 14.2% vs revenue 12.2%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 3 years
Goodwill+Intangibles change 3% YoY. Normal
Manipulation Score
M-Score = -2.66 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score — Not Applicable
Iron Mountain Incorporated (Del is a financial company. Z-Score is designed for non-financial companies.
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-09