>
Switch to:

Iron Mountain Beneish M-Score

: -2.39 (As of Today)
View and export this data going back to 1996. Start your Free Trial

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.39 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Iron Mountain's Beneish M-Score or its related term are showing as below:

NYSE:IRM' s Beneish M-Score Range Over the Past 10 Years
Min: -3.21   Med: -2.63   Max: -1.86
Current: -2.39

-3.21
-1.86

During the past 13 years, the highest Beneish M-Score of Iron Mountain was -1.86. The lowest was -3.21. And the median was -2.63.


Iron Mountain Beneish M-Score Historical Data

The historical data trend for Iron Mountain's Beneish M-Score 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.

* Premium members only.

Iron Mountain Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Beneish M-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.27 -2.50 -2.71 -2.73 -2.69

Iron Mountain Quarterly Data
Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21
Beneish M-Score 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 Premium Member Only Premium Member Only Premium Member Only -2.76 -2.73 -2.69 -2.70 -2.39

Competitive Comparison

For the REIT - Specialty subindustry, Iron Mountain's Beneish M-Score, along with its competitors' market caps and Beneish M-Score 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 Beneish M-Score Distribution

For the REITs industry and Real Estate sector, Iron Mountain's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Iron Mountain's Beneish M-Score falls into.



Iron Mountain Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Iron Mountain for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 1.0318+0.528 * 0.9932+0.404 * 1.7741+0.892 * 1.0251+0.115 * 0.3717
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0078+4.679 * -0.0439-0.327 * 0.9851
=-2.39

* 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.

This Year (Jun21) TTM:Last Year (Jun20) TTM:
Accounts Receivable was $852 Mil.
Revenue was 1119.756 + 1082.04 + 1059.653 + 1036.647 = $4,298 Mil.
Gross Profit was 645.177 + 630.131 + 610.43 + 602.142 = $2,488 Mil.
Total Current Assets was $1,391 Mil.
Total Assets was $14,314 Mil.
Property, Plant and Equipment(Net PPE) was $2,342 Mil.
Depreciation, Depletion and Amortization(DDA) was $669 Mil.
Selling, General, & Admin. Expense(SGA) was $964 Mil.
Total Current Liabilities was $1,748 Mil.
Long-Term Debt & Capital Lease Obligation was $10,947 Mil.
Net Income was 275.285 + 45.603 + 247.41 + 38.394 = $607 Mil.
Non Operating Income was 273.445 + -49.923 + 133.884 + -60.535 = $297 Mil.
Cash Flow from Operations was 320.373 + 68.829 + 360.439 + 188.144 = $938 Mil.
Accounts Receivable was $806 Mil.
Revenue was 982.239 + 1068.731 + 1079.59 + 1062.224 = $4,193 Mil.
Gross Profit was 575.546 + 601.81 + 620.102 + 612.852 = $2,410 Mil.
Total Current Assets was $1,897 Mil.
Total Assets was $14,368 Mil.
Property, Plant and Equipment(Net PPE) was $6,483 Mil.
Depreciation, Depletion and Amortization(DDA) was $584 Mil.
Selling, General, & Admin. Expense(SGA) was $933 Mil.
Total Current Liabilities was $2,383 Mil.
Long-Term Debt & Capital Lease Obligation was $10,553 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Accounts Receivable in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(852.449 / 4298.096) / (805.901 / 4192.784)
=0.19833177 / 0.19221143
=1.0318

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(2410.31 / 4192.784) / (2487.88 / 4298.096)
=0.57487102 / 0.57883305
=0.9932

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (1390.608 + 2342.197) / 14314.316) / (1 - (1897.373 + 6483.393) / 14367.553)
=0.73922575 / 0.41668801
=1.7741

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=4298.096 / 4192.784
=1.0251

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(583.756 / (583.756 + 6483.393)) / (669.198 / (669.198 + 2342.197))
=0.08260134 / 0.22222193
=0.3717

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(963.952 / 4298.096) / (933.041 / 4192.784)
=0.22427419 / 0.22253496
=1.0078

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((10947.353 + 1748.202) / 14314.316) / ((10552.61 + 2383.271) / 14367.553)
=0.88691314 / 0.9003538
=0.9851

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(606.692 - 296.871 - 937.785) / 14314.316
=-0.0439

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Iron Mountain has a M-score of -2.39 suggests that the company is unlikely to be a manipulator.


Iron Mountain Beneish M-Score Related Terms

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


Iron Mountain Business Description

Iron Mountain logo
Industry
Real Estate » REITs NAICS : 523991 SIC : 6798
Traded in Other Exchanges
Address
One Federal Street, Boston, MA, USA, 02110
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
Simons Doyle director 220 OCCIDENTAL AVENUE SOUTH SEATTLE WA 98104
Matlock Robin director C/O IRON MOUNTAIN INCORPORATED ONE FEDERAL STREET BOSTON MA 02110
Verrecchia Alfred J director C/O HASBRO INC 1011 NEWPORT AVENUE PAWTUCKET RI 02862
Halvorsen Kris director 20330 STEVENS CREEK BLVD CUPERTINO CA 95014
Bailey Clark H director 10 OXFORD ROAD LARCHMONT NY 01538
Borges Daniel officer: SVP & Chief Accounting Officer C/O IRON MOUNTAIN INCORPORATED ONE FEDERAL STREET BOSTON MA 02110
Allerton Jennifer director C/O IRON MOUNTAIN INCORPORATED ONE FEDERAL STREET BOSTON MA 02110
Rakowich Walter C director 14100 E 35TH PL AURORA CO 80011
Arway Pamela M director 601 HAWAII ST. EL SEGUNDO CA 90245
Ford Monte E director C/O AKAMAI TECHNOLOGIES, INC. 8 CAMBRIDGE CENTER CAMBRIDGE MA 02142
Murdock Wendy J. director C/O IRON MOUNTAIN INCORPORATED ONE FEDERAL STREET BOSTON MA 02110
Deninger Paul F director C/O JEFFERIES & CO. 1050 WINTER STREET WALTHAM MA 02451
Dauten Kent P director KEYSTONE CAPITAL INC 520 LAKE COOK ROAD SUITE 450 DEERFIELD IL 60015
Antenucci Ted R director 14100 E 35TH PLACE AURORA CO 80011
Russo Fidelma officer: EVP, Chief Technology Officer C/O IRON MOUNTAIN INCORPORATED ONE FEDERAL STREET BOSTON MA 02110

Iron Mountain Headlines

Other Sources

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)