Using the industry peer median P/E multiple (trailing + forward), Iron Mountain Incorporated (IRM) has a fair value of $44.02 based on 8 comparable companies in the REIT - Specialty industry.
USD in millions except Fair Price. Subject company highlighted.
| Mkt Cap ($M) | Trailing P/E | Forward P/E | |
|---|---|---|---|
| Iron Mountain IncorporatedIRM | 29,828 | 204.4x | 43.9x |
| Ventas, Inc.VTR | 39,047 | 152.2x | 169.5x |
| Crown Castle Inc.CCI | 33,891 | 76.2x | 36.9x |
| VICI Properties Inc.VICI | 28,964 | 10.4x | 10.2x |
| Extra Space Storage Inc.EXR | 27,531 | 28.4x | 27.9x |
| AvalonBay Communities, Inc.AVB | 23,267 | 22.2x | 33.2x |
| Equity ResidentialEQR | 22,500 | 20.5x | 44.8x |
| SBA Communications CorporationSBAC | 17,519 | 16.9x | 21.8x |
| Weyerhaeuser CompanyWY | 16,868 | 52.0x | 47.9x |
| Industry Median | 25.3x | 35.1x | |
| (*) Profit after tax | 145 | 679 | |
| Equity Value | 3,661 | 22,557 | |
| (/) Outstanding shares | 298 | 298 | |
| Fair Price | $12 | $76 | |
This P/E relative valuation uses the industry peer median Price-to-Earnings ratio to estimate fair value. Both trailing (last 12 months) and forward (next fiscal year analyst estimates) P/E multiples are computed independently.
The industry median trailing P/E is applied to the company's TTM net income, and the forward P/E to analyst-estimated net income. Each produces an equity value divided by shares outstanding to yield a fair price per share. The selected fair value is the average of the trailing and forward legs.