IRM EV/EBITDA Analysis

IRM trades at 22.0x EV/EBITDA, a valuation measure that compares a company’s total enterprise value (equity plus debt minus cash) to its earnings before interest, taxes, depreciation, and amortization.

That multiple is well above the sector median of 13.5x, placing IRM in the 79th percentile among peers, meaning most comparable companies are cheaper. The trend is stable over the last eight quarters, with a year-over-year decline of 1.3% and a quarter-over-quarter decline of 3.2%, so the high multiple is barely easing. For an investor, a high but stable EV/EBITDA suggests the market already expects strong future cash flows, leaving limited margin for error if results disappoint. The modest downward drift trims some valuation risk, but the level still implies growth expectations that are not clearly supported by a neutral outlook. This metric supports the overall NEUTRAL verdict: the valuation is rich, but the stable trend prevents it from being a clear sell signal.

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