Iron Mountain (FRA:I5M) Cyclically Adjusted PB Ratio: (As of Aug. 07, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:I5M Iron Mountain Inc FRA:I5M
86 GF Score
Price €109.95
GF Value €104.68
Valuation Fairly Valued
! 8 Warning Signs
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What is Iron Mountain Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Iron Mountain  (FRA:I5M) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Iron Mountain Cyclically Adjusted PB Ratio Related Terms


Iron Mountain Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Iron Mountain's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Iron Mountain Cyclically Adjusted PB Ratio Chart

Iron Mountain Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.51 8.50 12.85 21.39 19.09

Iron Mountain Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 22.00 22.54 19.09 24.06 32.44

FRA:I5M vs CCI, SBAC, WY: Cyclically Adjusted PB Ratio Comparison

For the REIT - Specialty subindustry, Iron Mountain's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Iron Mountain Cyclically Adjusted PB Ratio vs REITs Industry

For the REITs industry and Real Estate sector, Iron Mountain's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Iron Mountain's Cyclically Adjusted PB Ratio falls into.


FRA:I5M
86GF Score
Iron Mountain Inc FRA:I5M
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Iron Mountain Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Iron Mountain's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Iron Mountain's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=-3.708/333.9520*333.9520
=-3.708

Current CPI (Jun. 2026) = 333.9520.

Iron Mountain Quarterly Data

Book Value per Share CPI Adj_Book
201609 7.186 241.428 9.940
201612 6.962 241.432 9.630
201703 6.736 243.801 9.227
201706 6.247 244.955 8.517
201709 5.869 246.819 7.941
201712 6.857 246.524 9.289
201803 6.410 249.554 8.578
201806 6.151 251.989 8.152
201809 5.801 252.439 7.674
201812 5.713 251.233 7.594
201903 5.429 254.202 7.132
201906 5.111 256.143 6.664
201909 4.778 256.759 6.214
201912 4.586 256.974 5.960
202003 3.532 258.115 4.570
202006 3.157 257.797 4.090
202009 2.762 260.280 3.544
202012 3.241 260.474 4.155
202103 2.792 264.877 3.520
202106 3.291 271.696 4.045
202109 2.859 274.310 3.481
202112 2.614 278.802 3.131
202203 2.368 287.504 2.751
202206 2.105 296.311 2.372
202209 1.839 296.808 2.069
202212 2.067 296.797 2.326
202303 1.747 301.836 1.933
202306 1.316 305.109 1.440
202309 0.843 307.789 0.915
202312 0.664 306.746 0.723
202403 0.058 312.332 0.062
202406 -0.421 314.175 -0.448
202409 -0.795 315.301 -0.842
202412 -1.637 315.605 -1.732
202503 -2.191 319.799 -2.288
202506 -2.253 322.561 -2.333
202509 -2.543 324.800 -2.615
202512 -2.832 324.054 -2.919
202603 -3.533 330.213 -3.573
202606 -3.708 333.952 -3.708

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Iron Mountain (FRA:I5M) Overvalued in 2026?

Based on GuruFocus' analysis, Iron Mountain stock appears to be overvalued. The current stock price of €109.95 is trading 5% above its estimated GF Value™ of €104.68. GuruFocus considers Iron Mountain to be Fairly Valued.

Key valuation signals for FRA:I5M:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €104.68 vs. price of €109.95 (5% above fair value)
  • GF Score™: 86/100 with 8 warning signs

No single metric tells the full story. See the FRA:I5M stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Iron Mountain Business Description

Industry Real EstateREITs
Other Exchanges IRM:USA0JDP:UKI1RM34:Brazil
Address 85 New Hampshire Avenue, Suite 150, Portsmouth, NH, USA, 03801
Iron Mountain Inc is an information management services provider organized and operated as a real estate investment trust. The company offers solutions to its clients to address their information management, digital transformation, information security, data center, and asset lifecycle management (ALM) needs. Its customers come from various industries, including commercial, legal, financial, healthcare, technology, etc. The company has two reportable segments: Global Records and Information Management (Global RIM) and Global Data Center. Maximum revenue is generated from the Global RIM segment, which offers data and records management, secure shredding, consumer storage, and other related services. Geographically, the company generates maximum revenue from the United States.
86GF Score

Get the complete analysis for FRA:I5M

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€109.95
Price
€104.68
GF Value