Iron Mountain Incorporated (IRM) vs SBA Communications Corporation (SBAC)

Iron Mountain Incorporated and SBA Communications Corporation are both Reit Specialty companies. Iron Mountain Incorporated is the larger, with a market value of $34.0B against $17.6B — 1.9× the size. SBA Communications Corporation trades at the lower P/E: 17.8× against 79.6×. Iron Mountain Incorporated grew revenue faster over the last twelve months: 17.4% against 5.36%. SBA Communications Corporation has the higher net margin (34.5% vs 5.54%) and the higher return on invested capital (11.0% vs 5.48%). Both pay a dividend; Iron Mountain Incorporated yields more (3.68% vs 1.59%). Across the 21 metrics below, SBA Communications Corporation leads on 13 and Iron Mountain Incorporated on 8.

Valuation

Metric IRM SBAC Reit Specialty median
P/E 79.56 17.85 26.27
P/S 4.39 6.14 5.86
P/B n/m n/m 2.19
Price to free cash flow n/m 13.09 14.62
EV/EBITDA 19.80 17.55 16.22
EV/Sales 6.65 10.45 8.93
Earnings yield 1.26% 5.60% 3.43%
Free cash flow yield (1.79%) 7.64% 5.37%

Profitability

Metric IRM SBAC Reit Specialty median
Gross margin 54.21% 75.18% 67.43%
Operating margin 18.76% 47.65% 21.38%
Net margin 5.54% 34.51% 16.14%
Free cash flow margin (7.87%) 46.89% 31.07%
Return on equity (54.95%) (20.71%) 4.76%
Return on assets 1.99% 8.80% 3.29%
Return on invested capital 5.48% 11.04% 4.19%

Growth

Metric IRM SBAC Reit Specialty median
Revenue growth (TTM) 17.37% 5.36% 5.36%
EPS growth (last fiscal year) (19.67%) 41.21% —
Revenue growth, 5-year CAGR 10.72% 6.21% 6.70%
Net income growth, 5-year CAGR (15.85%) 112.87% 0.00%

Health

Metric IRM SBAC Reit Specialty median
Debt to equity (18.17) (2.75) 0.62
Current ratio 0.73 0.17 0.70
Net debt to EBITDA 7.33 7.52 4.47

Dividend

Metric IRM SBAC Reit Specialty median
Dividend yield 3.68% 1.59% 3.88%
Payout ratio 1.92 0.67 1.14

Size

Metric IRM SBAC Reit Specialty median
Market cap 33.96b 17.62b 8.48b

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