Iron Mountain Incorporated (IRM) vs Ventas, Inc. (VTR)
A side-by-side comparison of Iron Mountain Incorporated and Ventas, Inc. 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 — IRM vs VTR
growth of $100 · dividends reinvested · last 10yIRM vs VTR: by the numbers
- •VTR is the larger company ($42.12B vs $33.14B market cap).
- •IRM converts more revenue to profit (5.54% vs 4.13% net margin).
- •IRM pays the higher dividend yield (2.93% vs 2.24%).
Metrics side by side
Valuation
| Metric | IRM | VTR |
|---|---|---|
| P/E ratio | 79.56 | 160.44 |
| Forward P/E | 44.66 | 148.65 |
| P/S ratio | 4.38 | 6.54 |
| P/B ratio | N/A | 2.88 |
| EV / EBITDA | 21.31 | 23.96 |
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 Ventas, Inc., 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 | VTR |
|---|---|---|
| Gross margin | 25.69% | -2.58% |
| Operating margin | 18.76% | 12.94% |
| Net margin | 5.54% | 4.13% |
| ROE | N/A | 1.82% |
| ROIC | 6.34% | 2.81% |
Dividends
| Metric | IRM | VTR |
|---|---|---|
| Dividend yield | 2.93% | 2.24% |
| Payout ratio | 241.21% | 370.37% |
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.
Ventas, Inc.'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 | VTR |
|---|---|---|
| Revenue CAGR (5Y) | 11.97% | 11.91% |
| EPS CAGR (5Y) | -16.26% | -14.16% |
| FCF CAGR (5Y) | -43.23% | 0.22% |
| Total return CAGR (5Y) | 24.35% | 13.45% |
Frequently asked
- Does IRM or VTR pay a bigger dividend?
- IRM yields 2.93% and VTR yields 2.24% based on trailing dividends and the latest price.
- Is IRM or VTR more profitable?
- IRM runs the higher net margin — IRM at 5.54% versus VTR at 4.13%.
- How have IRM and VTR total returns compared?
- Over the past 10 years, IRM delivered 18.31% and VTR delivered 7.06% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Iron Mountain & Ventas 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.