The Filing Desk

EPR Properties vs Iron Mountain

EPR Properties EPR · Iron Mountain IRM · Other Specialized REITs

Iron Mountain reported revenue of $6.9 billion in fiscal 2025, 9.6 times EPR Properties' $718 million in fiscal 2025. EPR Properties' revenue grew 2.9% in its latest year, and Iron Mountain's grew 12.2%. EPR Properties had an operating margin of 57.7%, against 16.9% at Iron Mountain. Free cash flow was $269 million at EPR Properties and −$932 million at Iron Mountain.

Side by side

EPR PropertiesIron Mountain
Latest fiscal yearFY2025, Dec 31, 2025FY2025, Dec 31, 2025
Revenue$718M$6.9B
Revenue growth2.9%12.2%
Revenue growth a year, last 5 years11.6%10.7%
Gross margin——
Operating margin57.7%16.9%
Net margin38.3%2.2%
Free cash flow$269M−$932M
Free cash flow margin37.5%−13.5%
Return on capital8.0%5.6%
Net debt to EBITDA4.9x7.7x
Dividends and buybacks$301M$919M
Change in diluted share count0.7%0.5%
Last close$56.40$113.08
P/E at the last close18.1×80.8×
Insider trades, last 12 monthssold $5.6 millionbought $2,954, sold $117.6 million
Piotroski F-score—5 of 8
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.

Ten years

Revenue
US$ billions, fiscal years
EPR PropertiesIron Mountain
Operating margin
Percent of revenue
EPR PropertiesIron Mountain
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
EPR PropertiesIron Mountain

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Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the EPR Properties and Iron Mountain pages.