Iron Mountain (Iron Mountain) Interest Coverage

: 1.85 (As of Dec. 2023)

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Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income by its Interest Expense. Iron Mountain's Operating Income for the three months ended in Dec. 2023 was $304 Mil. Iron Mountain's Interest Expense for the three months ended in Dec. 2023 was $-164 Mil. Iron Mountain's interest coverage for the quarter that ended in Dec. 2023 was 1.85. The higher the ratio, the stronger the company's financial strength is.

Warning Sign:

Ben Graham prefers companies' interest coverage to be at least 5. Iron Mountain Inc interest coverage is 1.86, which is low.

The historical rank and industry rank for Iron Mountain's Interest Coverage or its related term are showing as below:

IRM' s Interest Coverage Range Over the Past 10 Years
Min: 1.83 Med: 2.02 Max: 2.2
Current: 1.86

IRM's Interest Coverage is ranked worse than
71.2% of 677 companies
in the REITs industry
Industry Median: 3.01 vs IRM: 1.86

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Iron Mountain Interest Coverage Historical Data

The historical data trend for Iron Mountain's Interest Coverage 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.

Note: For Interest Coverage, "No debt" indicates no long-term debt. An indication of "No Debt" does not necessarily mean that the company has no long-term debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.

* Premium members only.

Iron Mountain Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

1.83

1.85

2.12

2.11

1.86

Iron Mountain Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Interest Coverage																1.86	1.94	1.79	1.85	1.85

Competitive Comparison

For the REIT - Specialty subindustry, Iron Mountain's Interest Coverage, along with its competitors' market caps and Interest Coverage 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 Interest Coverage Distribution

For the REITs industry and Real Estate sector, Iron Mountain's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Iron Mountain's Interest Coverage falls into.

Iron Mountain Interest Coverage Calculation

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:

If Interest Expense is negative and Operating Income is positive, then

Interest Coverage

-1

Operating Income

Interest Expense

Else if Interest Expense is negative and Operating Income is negative, then

The company did not have earnings to cover the interest expense.

Else if Interest Expense is 0 and Long-Term Debt & Capital Lease Obligation is 0, then

The company had no debt ⁽¹⁾.

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Iron Mountain's Interest Coverage for the fiscal year that ended in Dec. 2023 is calculated as

Here, for the fiscal year that ended in Dec. 2023, Iron Mountain's Interest Expense was $-598 Mil. Its Operating Income was $1,110 Mil. And its Long-Term Debt & Capital Lease Obligation was $14,375 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	1110.043	/	-598.403
	=	1.86

Iron Mountain's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Here, for the three months ended in Dec. 2023, Iron Mountain's Interest Expense was $-164 Mil. Its Operating Income was $304 Mil. And its Long-Term Debt & Capital Lease Obligation was $14,375 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	303.627	/	-164.255
	=	1.85

The higher the ratio, the stronger the company's Financial Strength is.

Iron Mountain (NYSE:IRM) Interest Coverage Explanation

Ben Graham requires that a company has a minimum interest coverage of 5 with the companies he invested. If the interest coverage is less than 2, the company is burdened by debt. Any business slow or recession may drag the company into a situation where it cannot pay the interest on its debt.

Interest Coverage is an important factor when GuruFocus ranks a company's overage Financial Strength .

Iron Mountain Interest Coverage Related Terms

Thank you for viewing the detailed overview of Iron Mountain's Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.

Iron Mountain (Iron Mountain) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Iron Mountain Inc (NYSE:IRM) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

I5M:Germany I5M:Germany I1RM34:Brazil

Address

85 New Hampshire Avenue, Suite 150, Portsmouth, NH, USA, 03801

Website

https://www.ironmountain.com

Iron Mountain Inc is a record management services provider. The firm is organized as a REIT. Most of its revenue comes from its storage business, with the rest coming from value-added services. The firm primarily caters to enterprise clients in developed markets. Its business segments include Global RIM Business; Global Data Center Business; and Corporate and Other Business.

Executives

William L Meaney	director, officer: President and CEO	C/O IRON MOUNTAIN INCORPORATED, ONE FEDERAL STREET, BOSTON MA 02110
Deborah Marson	officer: EVP, General Counsel, Sec.	C/O IRON MOUNTAIN INCORPORATED, ONE FEDERAL STREET, BOSTON MA 02110
Robin Matlock	director	C/O IRON MOUNTAIN INCORPORATED, ONE FEDERAL STREET, BOSTON MA 02110
Mark Kidd	officer: SVP, GM Data Centers	C/O IRON MOUNTAIN INCORPORATED, ONE FEDERAL STREET, BOSTON MA 02110
Wing Cheung Hwang	officer: EVP&GM, Data Centers	C/O IRON MOUNTAIN INC., 85 NEW HAMPSHIRE AVE, SUITE 150, PORTSMOUTH NH 03801
John Tomovcsik	officer: EVP, G. Mgr., Rec. & Inf. Mgmt	C/O IRON MOUNTAIN INCORPORATED, ONE FEDERAL STREET, BOSTON MA 02110
Edward Baker-greene	officer: EVP, CHRO	601 MERRITT 7, NORWALK CT 06851
Wendy J. Murdock	director	1210 AVIDXCHANGE LANE, CHARLOTTE NC 28206
Samuels Theodore R. Ii	director	1990 E. GRAND AVE., EL SEGUNDO CA 90245
Barry Hytinen	officer: EVP & CFO	1000 TEMPUR WAY, LEXINGTON KY 40502
Daniel Borges	officer: VP & Chief Accounting Officer	C/O IRON MOUNTAIN INCORPORATED, ONE FEDERAL STREET, BOSTON MA 02110
Walter C Rakowich	director	14100 E 35TH PL, AURORA CO 80011
Jennifer Allerton	director	C/O IRON MOUNTAIN INCORPORATED, ONE FEDERAL STREET, BOSTON MA 02110
Greg W Mcintosh	officer: EVP, Strategic Accounts	C/O IRON MOUNTAIN INCORPORATED, ONE FEDERAL STREET, BOSTON MA 02110
Deirdre Evens	officer: EVP and Chief of Operations	10 STILLMEADOW WAY, FRAMINGHAM MA 01702