WallStSmart

Iron Mountain Incorporated (IRM)vsAnnaly Capital Management, Inc. (NLY)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Iron Mountain Incorporated generates 176% more annual revenue ($6.90B vs $2.50B). NLY leads profitability with a 87.4% profit margin vs 2.1%. IRM appears more attractively valued with a PEG of 2.70. NLY earns a higher WallStSmart Score of 77/100 (B+).

IRM

Buy

52

out of 100

Grade: C-

Growth: 6.0Profit: 7.0Value: 2.7Quality: 3.3
Piotroski: 2/9Altman Z: 0.12

NLY

Strong Buy

77

out of 100

Grade: B+

Growth: 9.3Profit: 8.0Value: 5.3Quality: 2.5
Piotroski: 3/9Altman Z: -0.56
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

IRMOvervalued (-10.8%)

Margin of Safety

-10.8%

Fair Value

$90.41

Current Price

$125.99

$35.58 premium

UndervaluedFair: $90.41Overvalued
NLYOvervalued (-13.8%)

Margin of Safety

-13.8%

Fair Value

$20.05

Current Price

$22.54

$2.49 premium

UndervaluedFair: $20.05Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

IRM3 strengths · Avg: 8.7/10
Return on EquityProfitability
225.1%10/10

Every $100 of equity generates 225 in profit

Operating MarginProfitability
22.0%8/10

Strong operational efficiency at 22.0%

Revenue GrowthGrowth
16.6%8/10

16.6% revenue growth

NLY6 strengths · Avg: 10.0/10
P/E RatioValuation
7.3x10/10

Attractively priced relative to earnings

Price/BookValuation
1.1x10/10

Reasonable price relative to book value

Profit MarginProfitability
87.4%10/10

Keeps 87 of every $100 in revenue as profit

Operating MarginProfitability
81.0%10/10

Strong operational efficiency at 81.0%

Revenue GrowthGrowth
48.8%10/10

Revenue surging 48.8% year-over-year

EPS GrowthGrowth
122.5%10/10

Earnings expanding 122.5% YoY

Areas to Watch

IRM4 concerns · Avg: 2.5/10
Profit MarginProfitability
2.1%3/10

2.1% margin — thin

Piotroski F-ScoreQuality
2/93/10

Weak financial health signals

PEG RatioValuation
2.702/10

Expensive relative to growth rate

P/E RatioValuation
229.0x2/10

Premium valuation, high expectations priced in

NLY4 concerns · Avg: 2.0/10
Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

PEG RatioValuation
32.032/10

Expensive relative to growth rate

Altman Z-ScoreHealth
-0.562/10

Distress zone — elevated risk

Debt/EquityHealth
6.951/10

Elevated debt levels

Comparative Analysis Report

WallStSmart Research

Bull Case : IRM

The strongest argument for IRM centers on Return on Equity, Operating Margin, Revenue Growth. Revenue growth of 16.6% demonstrates continued momentum.

Bull Case : NLY

The strongest argument for NLY centers on P/E Ratio, Price/Book, Profit Margin. Profitability is solid with margins at 87.4% and operating margin at 81.0%. Revenue growth of 48.8% demonstrates continued momentum.

Bear Case : IRM

The primary concerns for IRM are Profit Margin, Piotroski F-Score, PEG Ratio. A P/E of 229.0x leaves little room for execution misses. Thin 2.1% margins leave little buffer for downturns.

Bear Case : NLY

The primary concerns for NLY are Piotroski F-Score, PEG Ratio, Altman Z-Score. Debt-to-equity of 6.95 is elevated, increasing financial risk.

Key Dynamics to Monitor

NLY carries more volatility with a beta of 1.30 — expect wider price swings.

NLY is growing revenue faster at 48.8% — sustainability is the question.

NLY generates stronger free cash flow (472M), providing more financial flexibility.

Monitor REIT - SPECIALTY industry trends, competitive dynamics, and regulatory changes.

Bottom Line

NLY scores higher overall (77/100 vs 52/100), backed by strong 87.4% margins and 48.8% revenue growth. Both earn "Strong Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Iron Mountain Incorporated

REAL ESTATE · REIT - SPECIALTY · USA

Iron Mountain Inc. (NYSE: IRM) is an American enterprise information management services company founded in 1951 and headquartered in Boston, Massachusetts.

Annaly Capital Management, Inc.

REAL ESTATE · REIT - MORTGAGE · USA

Annaly Capital Management, Inc., a diversified capital manager, invests in and finances residential and commercial assets. The company is headquartered in New York, New York.

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