Iron Mountain, Inc. (NYSE:IRM)
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The Company provides information protection and storage services.
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The Company provides information protection and storage services.
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Although Iron Mountain generates impressive sales growth, its income generation is not equally impressive. The company's average roe for the past 5 years is only 7.5%. In addition, the company's debt level is out of control. I estimate that its net debt is equal to 20 years of profit. Accordingly, I recommend that we rename this company "Debt Mountain". At 2.9 times book value and 30 times estimated 2009 earnings, this company is significantly overvalued. One major insider seems to agree with me. He is selling million of dollars worth of stock in the $28 to $30 range.