Iron Mountain vs Weyerhaeuser
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The short version
- Weyerhaeuser is the larger business, with $6.9B of revenue in fiscal 2025 against $6.9B for Iron Mountain.
- Iron Mountain grew revenue faster (12.2%, against −3.1%).
- Iron Mountain kept more of each dollar of sales as operating profit (16.9% operating margin, against 10.6%).
- Iron Mountain earned a higher return on the capital invested in it (5.6%, against 5.1%).
- Investors pay more for each dollar of Iron Mountain’s earnings: a P/E of 78.5x against 29.5x for Weyerhaeuser.
| Latest fiscal year | IRM · FY25 | WY · FY25 |
|---|---|---|
| Size | ||
| Market cap | $33.0B | $14.1B |
| Revenue | $6.9B | $6.9B |
| Free cash flow | −$932M | — |
| Net income | $152M | $324M |
| Growth | ||
| Revenue growth | 12.2% | −3.1% |
| 5-year growth | 10.7% | −1.7% |
| Share count change | 0.5% | −0.7% |
| Profitability | ||
| Gross margin | — | 14.8% |
| Operating margin | 16.9% | 10.6% |
| Net margin | 2.2% | 4.7% |
| FCF margin | −13.5% | — |
| Return on capital | 5.6% | 5.1% |
| Return on equity | — | 3.4% |
| Balance sheet | ||
| Net debt | $16.8B | $5.1B |
| Net debt / EBITDA | 7.7x | 4.1x |
| Dividends and buybacks | $919M | $766M |
| Valuation & quality | ||
| P/E | 78.5x | 29.5x |
| Piotroski F-score | 5 | 4 |
Revenue
FY16
IRM $3.5B
WY $6.4B
FY17
IRM $3.8B
WY $7.2B
FY18
IRM $4.2B
WY $7.5B
FY19
IRM $4.3B
WY $6.6B
FY20
IRM $4.1B
WY $7.5B
FY21
IRM $4.5B
WY $10.2B
FY22
IRM $5.1B
WY $10.2B
FY23
IRM $5.5B
WY $7.7B
FY24
IRM $6.1B
WY $7.1B
FY25
IRM $6.9B
WY $6.9B
IRM
WY
Operating margin
FY16
IRM 14.3%
WY 12.9%
FY17
IRM 16.5%
WY 15.7%
FY18
IRM 19.1%
WY 18.7%
FY19
IRM 18.3%
WY 9.9%
FY20
IRM 22.5%
WY 22.7%
FY21
IRM 19.0%
WY 35.7%
FY22
IRM 20.6%
WY 30.2%
FY23
IRM 16.8%
WY 15.5%
FY24
IRM 16.4%
WY 9.6%
FY25
IRM 16.9%
WY 10.6%
IRM
WY
Free cash flow
FY16
IRM $215M
WY —
FY17
IRM $378M
WY —
FY18
IRM $475M
WY —
FY19
IRM $274M
WY —
FY20
IRM $549M
WY —
FY21
IRM $148M
WY —
FY22
IRM $52.3M
WY —
FY23
IRM −$226M
WY —
FY24
IRM −$595M
WY —
FY25
IRM −$932M
WY —
IRM
WY
Return on capital
FY16
IRM 4.7%
WY 5.7%
FY17
IRM 6.6%
WY 6.3%
FY18
IRM 7.6%
WY 9.0%
FY19
IRM 6.0%
WY 3.6%
FY20
IRM 8.5%
WY 9.9%
FY21
IRM 6.1%
WY 20.7%
FY22
IRM 8.6%
WY 17.8%
FY23
IRM 6.4%
WY 7.5%
FY24
IRM 5.9%
WY 4.5%
FY25
IRM 5.6%
WY 5.1%
IRM
WY
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.