Equity Residential (EQR) vs Iron Mountain Incorporated (IRM)
A side-by-side comparison of Equity Residential and Iron Mountain Incorporated across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of August 11, 2026. Differences are shown without an overall score or investment verdict.
Total return — EQR vs IRM
growth of $100 · dividends reinvested · last 10yEQR vs IRM: by the numbers
- •IRM is the larger company ($36.41B vs $24.41B market cap).
- •EQR converts more revenue to profit (27.91% vs 3.76% net margin).
- •IRM grew revenue faster over the past five years (11.73% vs 5.22% CAGR).
- •EQR pays the higher dividend yield (4.24% vs 2.78%).
Metrics side by side
Valuation
| Metric | EQR | IRM |
|---|---|---|
| P/E ratio | 28.87 | 133.58 |
| Forward P/E | 45.24 | 50.52 |
| P/S ratio | 8.06 | 5.01 |
| P/B ratio | 2.40 | N/A |
| EV / EBITDA | 17.90 | 23.93 |
| FCF yield | 4.65% | N/A |
For REITs like Equity Residential, GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
For REITs like Iron Mountain Incorporated, GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
Profitability
| Metric | EQR | IRM |
|---|---|---|
| Gross margin | 45.96% | 25.69% |
| Operating margin | 36.33% | 18.01% |
| Net margin | 27.91% | 3.76% |
| ROE | 8.32% | -14.74% |
| ROIC | 4.61% | 5.72% |
Dividends
| Metric | EQR | IRM |
|---|---|---|
| Dividend yield | 4.24% | 2.78% |
| Payout ratio | 93.94% | 689.18% |
Equity Residential's payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Iron Mountain Incorporated's payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Growth (annualized)
| Metric | EQR | IRM |
|---|---|---|
| Revenue CAGR (5Y) | 5.22% | 11.73% |
| EPS CAGR (5Y) | 4.71% | -16.26% |
| FCF CAGR (5Y) | 2.37% | -43.23% |
| Total return CAGR (5Y) | -0.48% | 26.29% |
Frequently asked
- Which has grown faster, EQR or IRM?
- Over the past five years, IRM grew revenue faster — EQR at a 5.22% CAGR versus IRM at 11.73%.
- Does EQR or IRM pay a bigger dividend?
- EQR yields 4.24% and IRM yields 2.78% based on trailing dividends and the latest price.
- Is EQR or IRM more profitable?
- EQR runs the higher net margin — EQR at 27.91% versus IRM at 3.76%.
- How have EQR and IRM total returns compared?
- Over the past 10 years, EQR delivered 3.41% and IRM delivered 19.01% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Equity Residential & Iron Mountain appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified August 11, 2026.