WallStSmart

Innovative Industrial Properties Inc (IIPR)vsIron Mountain Incorporated (IRM)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Iron Mountain Incorporated generates 2624% more annual revenue ($7.25B vs $265.95M). IIPR leads profitability with a 44.5% profit margin vs 3.8%. IIPR trades at a lower P/E of 13.9x. IRM earns a higher WallStSmart Score of 64/100 (C+).

IIPR

Buy

52

out of 100

Grade: C-

Growth: 2.0Profit: 7.5Value: 6.0Quality: 5.0

IRM

Buy

64

out of 100

Grade: C+

Growth: 8.7Profit: 7.0Value: 2.7Quality: 3.3
Piotroski: 2/9Altman Z: 0.12
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

Intrinsic value data unavailable for IIPR.

IRMOvervalued (-5.0%)

Margin of Safety

-5.0%

Fair Value

$95.45

Current Price

$129.96

$34.51 premium

UndervaluedFair: $95.45Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

IIPR4 strengths · Avg: 9.5/10
Price/BookValuation
0.9x10/10

Reasonable price relative to book value

Profit MarginProfitability
44.5%10/10

Keeps 45 of every $100 in revenue as profit

Operating MarginProfitability
51.3%10/10

Strong operational efficiency at 51.3%

P/E RatioValuation
13.9x8/10

Attractively priced relative to earnings

IRM4 strengths · Avg: 9.0/10
Return on EquityProfitability
225.1%10/10

Every $100 of equity generates 225 in profit

EPS GrowthGrowth
860.0%10/10

Earnings expanding 860.0% YoY

Operating MarginProfitability
21.0%8/10

Strong operational efficiency at 21.0%

Revenue GrowthGrowth
21.6%8/10

Revenue surging 21.6% year-over-year

Areas to Watch

IIPR4 concerns · Avg: 2.5/10
Market CapQuality
$1.56B3/10

Smaller company, higher risk/reward

Return on EquityProfitability
6.3%3/10

ROE of 6.3% — below average capital efficiency

Revenue GrowthGrowth
-13.1%2/10

Revenue declined 13.1%

EPS GrowthGrowth
-22.1%2/10

Earnings declined 22.1%

IRM4 concerns · Avg: 2.5/10
Profit MarginProfitability
3.8%3/10

3.8% margin — thin

Piotroski F-ScoreQuality
2/93/10

Weak financial health signals

PEG RatioValuation
2.702/10

Expensive relative to growth rate

P/E RatioValuation
142.8x2/10

Premium valuation, high expectations priced in

Comparative Analysis Report

WallStSmart Research

Bull Case : IIPR

The strongest argument for IIPR centers on Price/Book, Profit Margin, Operating Margin. Profitability is solid with margins at 44.5% and operating margin at 51.3%.

Bull Case : IRM

The strongest argument for IRM centers on Return on Equity, EPS Growth, Operating Margin. Revenue growth of 21.6% demonstrates continued momentum.

Bear Case : IIPR

The primary concerns for IIPR are Market Cap, Return on Equity, Revenue Growth.

Bear Case : IRM

The primary concerns for IRM are Profit Margin, Piotroski F-Score, PEG Ratio. A P/E of 142.8x leaves little room for execution misses. Thin 3.8% margins leave little buffer for downturns.

Key Dynamics to Monitor

IIPR profiles as a declining stock while IRM is a growth play — different risk/reward profiles.

IIPR carries more volatility with a beta of 1.45 — expect wider price swings.

IRM is growing revenue faster at 21.6% — sustainability is the question.

IIPR generates stronger free cash flow (53M), providing more financial flexibility.

Bottom Line

IRM scores higher overall (64/100 vs 52/100) and 21.6% revenue growth. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Innovative Industrial Properties Inc

REAL ESTATE · REIT - INDUSTRIAL · USA

Innovative Industrial Properties, Inc. is a self-advising Maryland corporation focused on acquiring, owning, and managing specialty properties leased to experienced state-licensed operators for their regulated medical cannabis facilities.

Iron Mountain Incorporated

REAL ESTATE · REIT - SPECIALTY · USA

Iron Mountain Inc. (NYSE: IRM) is an American enterprise information management services company founded in 1951 and headquartered in Boston, Massachusetts.

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