Shares of Zebra Technologies (NASDAQ: ZBRA) were up by 10.5% at 2:50 p.m. ET on Thursday. The information manager's stock had gained as much as 20.2% earlier in the day. Zebra's Q4 2025 results were broadly in line with expectations, but management set bullish guidance targets for the next quarter. Zebra's guidance is the real story here Zebra's fourth-quarter sales rose 10.6% year-over-year to $1.48 billion. Adjusted earnings jumped from $4.00 to $4.33 per diluted share. The bottom-line result matched t ...

ISC celebrates 18 consecutive years as one of Saskatchewan’s Top Employers, highlighting its dedication to fostering an exceptional workplace.Key initiatives include supporting employee mental health and well-being through flexible work options, development opportunities and comprehensive employee supports.This recognition reflects ISC’s people-first approach, emphasizing employee well-being, career development and work-life balance. REGINA, Saskatchewan, Feb. 03, 2026 (GLOBE NEWSWIRE) -- For the 18th conse ...

Core Viewpoint - Iron Mountain Incorporated (IRM) is currently viewed as a battleground stock, with bullish perspectives focusing on rapid growth and low AFFO multiples, while bearish views highlight concerns over high debt and AFFO calculations [1][2]. Bear Thesis - The bear thesis identifies three main reasons for the substantial drop in IRM's stock price over the past year: overvaluation, being caught in the AI selloff, and a short attack [4][7]. - The company has evolved from physical information storage to digital information management, which has led to its classification as a data center REIT, although this segment remains a small part of its business [5][6]. Financial Overview - As of September 30, 2025, IRM's total assets amounted to $20.63 billion, with current assets of $1.88 billion and total liabilities of $18.77 billion [9]. - The company has a significant operating lease liability of $2.28 billion, which is not classified as debt, as it represents long-term rental obligations rather than traditional debt [10][11]. AFFO and Earnings Adjustments - There are concerns regarding the inflation of reported AFFO, but IRM provides transparent reconciliations between GAAP and non-GAAP metrics [14][16]. - The company reported a normalized FFO of $276.89 million for Q3 2025, reflecting an 18.7% year-over-year increase [22]. - True AFFO is estimated to be approximately $320 million lower than reported AFFO, leading to an adjusted AFFO per share of $4.00 for 2025 [27][25]. Growth and Valuation - IRM has demonstrated strong growth across various business segments, with pricing power in its legacy records information management business contributing to its growth [28][31]. - Analysts project continued strong growth through 2028, with total revenue guidance for 2025 set between $6.79 billion and $6.94 billion, representing a year-over-year increase of approximately 12% [26][34]. - The current valuation shows IRM trading at 14X forward AFFO and 16X trailing AFFO, which may be undervalued given its growth rate [38][39]. Market Position - IRM's data center builds are expected to yield high returns, with cash on cash IRRs in the low double digits, supporting the company's growth strategy [31][36]. - The information management business is considered robust, with clients reliant on data retrieval services, providing IRM with continued pricing power [36].

Company Overview - Iron Mountain Incorporated (IRM) is a global leader in information management with a market cap of $25 billion, specializing in secure storage, data protection, and digital transformation services [1] - The company operates a vast network of facilities for storing physical records and has a growing data center business that supports cloud and colocation services [1] Market Position - Iron Mountain is classified as a "large-cap" stock, valued at $10 billion or more, known for its recurring-revenue model and strong client retention [2] - The company combines legacy records management with expanding digital infrastructure capabilities, positioning itself as a hybrid physical-digital information steward for large organizations [2] Stock Performance - Shares of Iron Mountain have decreased nearly 25.9% from its 52-week high of $114.88 and have fallen 12% over the past three months, underperforming the Real Estate Select Sector SPDR Fund (XLRE) which dipped over 3.3% during the same period [3][4] - Year-to-date, Iron Mountain's shares have fallen 19%, and over the past 52 weeks, the stock has declined 25.6%, compared to XLRE's 7.7% drop [4] Recent Developments - On November 19, shares fell more than 2% after short-seller Gotham City Research disclosed a short position and released a bearish thesis, alleging that IRM's valuation is significantly inflated and suggesting a value of $22 to $40 per share [5] - Gotham City Research raised concerns about the sustainability of Iron Mountain's growth strategy, leverage, and cash-flow quality, which has heightened investor caution [5] Competitive Landscape - In comparison, rival SBA Communications Corporation (SBAC) has shown less pronounced decline, falling 7.1% year-to-date and decreasing 15.2% over the past 52 weeks [6]

Core Insights - Iron Mountain Incorporated (IRM) is a global leader in information management with a market cap of $30.2 billion, specializing in secure storage and management of physical and digital assets [1] Financial Performance - For FY2025 Q3, IRM reported a revenue increase of 12.6% year-over-year to $1.75 billion, driven by strong demand in storage and services [4] - Storage rental revenue rose by 10% to $1.03 billion, while service revenue increased by 16% to $721 million [4] - Adjusted EBITDA reached a record $660 million, up 16%, with a margin expansion of 110 basis points [5] - The company's AFFO increased by 17% to $1.32 per share, with analysts projecting a 154.8% year-over-year increase to $4.51 per share for the current fiscal year [5][6] Market Performance - IRM shares have declined by 13.9% over the past year, underperforming the S&P 500 Index, which gained 14.1% [2] - Year-to-date, IRM shares are down 3.8%, compared to the S&P 500's 16.4% return [2] - The company has also struggled against the Real Estate Select Sector SPDR Fund's 4.2% decline over the past 52 weeks [3] Analyst Ratings - Among 11 analysts covering IRM, the consensus rating is a "Moderate Buy," with eight "Strong Buy" ratings, one "Moderate Buy," one "Hold," and one "Strong Sell" [6] - JPMorgan's Andrew Steinerman raised the price target for IRM to $111 from $100, maintaining an "Overweight" rating [7]