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 September 13, 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 ($33.14B vs $23.87B market cap).
- •EQR converts more revenue to profit (27.91% vs 5.54% net margin).
- •IRM grew revenue faster over the past five years (11.97% vs 5.22% CAGR).
- •EQR pays the higher dividend yield (4.38% vs 2.93%).
Metrics side by side
Valuation
| Metric | EQR | IRM |
|---|---|---|
| P/E ratio | 28.66 | 79.56 |
| Forward P/E | 44.91 | 44.66 |
| P/S ratio | 7.61 | 4.38 |
| P/B ratio | 2.27 | N/A |
| EV / EBITDA | 17.15 | 21.31 |
| FCF yield | 4.93% | 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% | 18.76% |
| Net margin | 27.91% | 5.54% |
| ROE | 8.32% | N/A |
| ROIC | 4.45% | 6.34% |
Dividends
| Metric | EQR | IRM |
|---|---|---|
| Dividend yield | 4.38% | 2.93% |
| Payout ratio | 122.37% | 241.21% |
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% | 11.97% |
| EPS CAGR (5Y) | 4.71% | -16.26% |
| FCF CAGR (5Y) | 2.37% | -43.23% |
| Total return CAGR (5Y) | -1.45% | 24.35% |
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 11.97%.
- Does EQR or IRM pay a bigger dividend?
- EQR yields 4.38% and IRM yields 2.93% 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 5.54%.
- How have EQR and IRM total returns compared?
- Over the past 10 years, EQR delivered 3.75% and IRM delivered 18.31% 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 September 13, 2026.