Iron Mountain
0.0 %
51.78 %
Yet to be announced
Company Overview
Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts. The company is trusted by more than 225,000 organizations around the world.
Revenue Sources
Based on Iron Mountain's SEC filings and financial statements, the company's primary revenue streams come from storage rental, service fees, and data center operations. These core business activities involve the physical storage of documents, data center services, and information management - all of which are halal business activities. There is no evidence of revenue from prohibited sources such as alcohol, gambling, or other haram activities.
Reliance on Interest
| Reporting Date | Total Revenue | Total Expense | Interest Income | Interest Expense | Interest Income Ratio | Interest Expense Ratio |
|---|---|---|---|---|---|---|
| Sept. 30, 2024 | $1.56b | $1.31b | - | - | 0.00% | 0.00% |
| June 30, 2024 | $1.53b | $1.48b | - | $176.52m | 0.00% | 11.92% |
| March 31, 2024 | $1.48b | $1.4b | - | $164.52m | 0.00% | 11.79% |
| Dec. 31, 2023 | $1.42b | $1.34b | - | $151.78m | 0.00% | 11.32% |
Analysis of the last four quarters shows interest expense is material to the company's operations. The interest expense to total expense ratios have consistently remained above 5% of total expenses. This indicates a significant reliance on interest-bearing debt in the company's capital structure, which is characteristic of REITs but problematic from a halal investing perspective.
Operational Ethics
While Iron Mountain operates globally, including in China, there is no clear evidence of direct material collaboration with the Chinese Communist Party. The company maintains standard business operations in various countries but no documented ongoing projects or significant associations with entities involved in human rights violations.
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