Iron Mountain Inc (IRM) is overvalued and SBA Communications Corp (SBAC) is fairly valued.
Both trade above our estimate of their intrinsic value. SBAC is the closer of the two: -4%, against -208% for IRM.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.9% (average of 2 methods) values the shares at $38.38; the price of $118.13 is 208% above that value.
Leak Score 28/100 on 8 of 12 signals
Discounting its cash flows at 9.1% (average of 3 methods) values the shares at $169.34; the price of $175.84 is 4% above that value, and 75% of that value comes from beyond year five.
Leak Score 60/100 on 8 of 12 signals
| Metric | IRM | SBAC |
|---|---|---|
| Verdict | Overvalued | Fairly valued |
| Price | $118.13 | $175.84 |
| Intrinsic value | $38.38 | $169.34 |
| Margin of safety | -208% | -4% |
| Leak Score | 28/100 (8/12) | 60/100 (8/12) |
| Market cap | $35.2B | $18.7B |
| Revenue growth, 5 years | 10.7% | 6.2% |
| Operating margin | 20.6% | 53.7% |
| Net margin | 5.5% | 34.5% |
| P/E | 84.3x | 18.9x |
| Forward P/E | 42.5x | 21.0x |
| Dividend yield | 2.9% | 2.8% |