Iron Mountain Incorporated (IRM)vsWaters Corporation (WAT)
IRM
Iron Mountain Incorporated
$124.66
-4.29%
REAL ESTATE · Cap: $37.86B
WAT
Waters Corporation
$365.36
-2.95%
HEALTHCARE · Cap: $34.91B
Smart Verdict
WallStSmart Research — data-driven comparison
Iron Mountain Incorporated generates 92% more annual revenue ($7.25B vs $3.77B). WAT leads profitability with a 11.9% profit margin vs 3.8%. WAT appears more attractively valued with a PEG of 1.60. IRM earns a higher WallStSmart Score of 64/100 (C+).
IRM
Buy64
out of 100
Grade: C+
WAT
Buy50
out of 100
Grade: C-
Intrinsic Value Comparison
Multi-model valuation · Graham Formula
Margin of Safety
-41.5%
Fair Value
$70.83
Current Price
$124.66
$53.83 premium
Margin of Safety
-84.6%
Fair Value
$178.29
Current Price
$365.36
$187.07 premium
Key Strengths & Concerns
Side-by-side fundamental analysis
Key Strengths
Every $100 of equity generates 225 in profit
Earnings expanding 860.0% YoY
Conservative balance sheet, low leverage
Strong operational efficiency at 21.0%
Revenue surging 21.6% year-over-year
Revenue surging 91.4% year-over-year
Safe zone — low bankruptcy risk
Areas to Watch
3.8% margin — thin
Weak financial health signals
Expensive relative to growth rate
Premium valuation, high expectations priced in
Expensive relative to growth rate
Trading at 8.5x book value
ROE of 2.9% — below average capital efficiency
Operating margin of 2.8%
Comparative Analysis Report
WallStSmart ResearchBull Case : IRM
The strongest argument for IRM centers on Return on Equity, EPS Growth, Debt/Equity. Revenue growth of 21.6% demonstrates continued momentum.
Bull Case : WAT
The strongest argument for WAT centers on Revenue Growth, Altman Z-Score. Revenue growth of 91.4% demonstrates continued momentum.
Bear Case : IRM
The primary concerns for IRM are Profit Margin, Piotroski F-Score, PEG Ratio. A P/E of 138.3x leaves little room for execution misses. Thin 3.8% margins leave little buffer for downturns.
Bear Case : WAT
The primary concerns for WAT are PEG Ratio, Price/Book, Return on Equity. A P/E of 45.2x leaves little room for execution misses.
Key Dynamics to Monitor
IRM carries more volatility with a beta of 1.22 — expect wider price swings.
WAT is growing revenue faster at 91.4% — sustainability is the question.
WAT generates stronger free cash flow (-42M), providing more financial flexibility.
Monitor REIT - SPECIALTY industry trends, competitive dynamics, and regulatory changes.
Bottom Line
IRM scores higher overall (64/100 vs 50/100) and 21.6% revenue growth. Both earn "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.
Waters Corporation
HEALTHCARE · DIAGNOSTICS & RESEARCH · USA
Waters Corporation is a publicly traded Analytical Laboratory instrument and software company headquartered in Milford, Massachusetts.
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