Iron Mountain Incorporated (IRM) vs Realty Income Corporation (O)
A side-by-side comparison of Iron Mountain Incorporated and Realty Income Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of October 3, 2026. Differences are shown without an overall score or investment verdict.
Total return — IRM vs O
growth of $100 · dividends reinvested · last 10yIRM vs O: by the numbers
- •O is the larger company ($50.48B vs $33.74B market cap).
- •O grew revenue faster over the past five years (28.50% vs 11.97% CAGR).
- •O pays the higher dividend yield (5.99% vs 3.05%).
Metrics side by side
Valuation
| Metric | IRM | O |
|---|---|---|
| P/E ratio | 80.99 | 39.51 |
| Forward P/E | 45.59 | 35.57 |
| PEG ratio | N/A | 75.98 |
| P/S ratio | 4.46 | 8.34 |
| P/B ratio | N/A | 1.28 |
| EV / EBITDA | 21.55 | N/A |
| FCF yield | N/A | 4.32% |
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.
For REITs like Realty Income Corporation, 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 | IRM | O |
|---|---|---|
| Gross margin | 25.69% | N/A |
| Operating margin | 18.76% | N/A |
| Net margin | 5.54% | N/A |
| ROIC | 6.34% | N/A |
Dividends
| Metric | IRM | O |
|---|---|---|
| Dividend yield | 3.05% | 5.99% |
| Payout ratio | 246.86% | 236.72% |
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.
Realty Income Corporation'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 | IRM | O |
|---|---|---|
| Revenue CAGR (5Y) | 11.97% | 28.50% |
| EPS CAGR (5Y) | -16.26% | 0.35% |
| FCF CAGR (5Y) | N/A | 13.26% |
| Total return CAGR (5Y) | 25.49% | 2.01% |
Some values include inputs from SEC filing.
Frequently asked
- Which has grown faster, IRM or O?
- Over the past five years, O grew revenue faster — IRM at a 11.97% CAGR versus O at 28.50%.
- Does IRM or O pay a bigger dividend?
- IRM yields 3.05% and O yields 5.99% based on trailing dividends and the latest price.
- How have IRM and O total returns compared?
- Over the past 10 years, IRM delivered 17.85% and O delivered 3.06% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Iron Mountain & Realty Income 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 October 3, 2026.