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 August 11, 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 ($42.29B vs $36.41B market cap).
- •VTR converts more revenue to profit (4.13% vs 3.76% net margin).
- •VTR grew revenue faster over the past five years (11.91% vs 11.73% CAGR).
- •IRM pays the higher dividend yield (2.78% vs 2.18%).
Metrics side by side
Valuation
| Metric | IRM | VTR |
|---|---|---|
| P/E ratio | 133.58 | 170.28 |
| Forward P/E | 50.52 | 150.46 |
| P/S ratio | 5.01 | 7.03 |
| P/B ratio | N/A | 3.09 |
| EV / EBITDA | 23.93 | 25.32 |
| FCF yield | N/A | 3.55% |
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 | 18.01% | 12.94% |
| Net margin | 3.76% | 4.13% |
| ROE | -14.74% | 1.82% |
| ROIC | 5.72% | 2.97% |
Dividends
| Metric | IRM | VTR |
|---|---|---|
| Dividend yield | 2.78% | 2.18% |
| Payout ratio | 689.18% | 363.64% |
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) | 11.73% | 11.91% |
| EPS CAGR (5Y) | -16.26% | -14.16% |
| FCF CAGR (5Y) | -43.23% | 8.05% |
| Total return CAGR (5Y) | 26.29% | 13.84% |
Frequently asked
- Which has grown faster, IRM or VTR?
- Over the past five years, VTR grew revenue faster — IRM at a 11.73% CAGR versus VTR at 11.91%.
- Does IRM or VTR pay a bigger dividend?
- IRM yields 2.78% and VTR yields 2.18% based on trailing dividends and the latest price.
- Is IRM or VTR more profitable?
- VTR runs the higher net margin — IRM at 3.76% versus VTR at 4.13%.
- How have IRM and VTR total returns compared?
- Over the past 10 years, IRM delivered 19.01% and VTR delivered 6.52% 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 August 11, 2026.