IRM vs WELL
Iron Mountain Inc. and Welltower Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | IRM | WELL |
|---|---|---|
| Revenue | $6.9B | $10.8B |
| Net income | $152.3M | $961.8M |
| Gross margin | 55.4% | 40.1% |
| Net margin | 2.2% | 8.9% |
| Return on equity | · | 2.6% |
| Diluted EPS | $0.49 | $1.39 |
| Dividend / share | $3.22 | $2.82 |
| Payout ratio | 603.9% | 195.2% |
| Free cash flow | $-931.6M | · |
| Equity | $-981.0M | $42.1B |
| Net debt / equity | · | 0.34× |
| Current ratio | 0.74× | · |
| Revenue CAGR 5y | 10.7% | 18.7% |
| Profit CAGR 5y | −15.0% | −1.5% |
WELL bills 1.6× the revenue of IRM, and keeps more of each dollar of revenue as profit (8.9% against 2.2%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | IRM | WELL |
|---|---|---|
| FY2025 | $6.9B | $10.8B |
| FY2024 | $6.1B | $8.0B |
| FY2023 | $5.5B | $6.6B |
| FY2022 | $5.1B | $5.9B |
| FY2021 | $4.5B | $4.7B |
| FY2020 | $4.1B | $4.6B |
| FY2019 | $4.3B | $5.1B |
| FY2018 | $4.2B | $4.7B |
| FY2017 | $3.8B | $4.3B |
| FY2016 | $3.5B | $4.3B |
Bottom line
| Fiscal year | IRM | WELL |
|---|---|---|
| FY2025 | $152.3M | $961.8M |
| FY2024 | $183.7M | $972.9M |
| FY2023 | $187.3M | $358.1M |
| FY2022 | $562.1M | $160.6M |
| FY2021 | $452.7M | $374.5M |
| FY2020 | $343.1M | $1.0B |
| FY2019 | $268.3M | $1.3B |
| FY2018 | $355.1M | $829.8M |
| FY2017 | $171.7M | $540.6M |
| FY2016 | $107.2M | $1.1B |
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$3,936,297,000 | WELL |
| FY2024 | −$1,841,209,000 | WELL |
| FY2023 | −$1,157,706,000 | WELL |
| FY2022 | −$757,041,000 | WELL |
| FY2021 | −$250,584,000 | WELL |
| FY2020 | −$458,697,000 | WELL |
| FY2019 | −$858,722,000 | WELL |
| FY2018 | −$474,738,000 | WELL |
| FY2017 | −$471,063,000 | WELL |
| FY2016 | −$769,707,000 | WELL |
| FY2015 | −$851,850,000 | WELL |
| FY2014 | −$225,853,000 | WELL |
| FY2013 | +$144,015,000 | IRM |
| FY2012 | +$1,198,911,000 | IRM |
| FY2011 | +$1,701,521,000 | IRM |
| FY2010 | +$2,313,778,000 | IRM |
| FY2009 | +$2,251,096,000 | IRM |
| FY2008 | +$2,550,609,000 | IRM |
The higher-revenue side has changed between IRM and WELL over this period. The gap has widened since the earliest year compared.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −6.7 pp | WELL |
| FY2024 | −9.2 pp | WELL |
| FY2023 | −2.0 pp | WELL |
| FY2022 | +8.3 pp | IRM |
| FY2021 | +2.2 pp | IRM |
| FY2020 | −14.3 pp | WELL |
| FY2019 | −19.7 pp | WELL |
| FY2018 | −9.2 pp | WELL |
| FY2017 | −8.1 pp | WELL |
| FY2016 | −22.2 pp | WELL |
| FY2015 | −18.9 pp | WELL |
| FY2014 | −4.8 pp | WELL |
| FY2013 | −1.5 pp | WELL |
| FY2012 | −10.5 pp | WELL |
| FY2011 | −2.9 pp | WELL |
| FY2010 | −24.1 pp | WELL |
| FY2009 | −29.0 pp | WELL |
| FY2008 | −53.5 pp | WELL |
The higher net margin has changed hands between IRM and WELL over this period.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
WELL's net margin has been more volatile than IRM's over the 18 comparable fiscal years — 12.5 percentage points of standard deviation against 3.8.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between IRM and WELL over these 18 fiscal years — IRM led in 2 and WELL in 16.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
IRM's return on equity has been more volatile than WELL's over the 16 comparable fiscal years — 19.0 percentage points of standard deviation against 2.5.
16 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between IRM and WELL over these 16 fiscal years — IRM led in 14 and WELL in 2.
16 of 18 comparable fiscal years — a year missing data on either side is not counted.