Et Tu Iron Mountain? Iron Mountain Latest to Enter the Enterprise Cloud Race; Maintaining FVE
On Sept. 12, Iron Mountain unexpectedly announced it was entering the enterprise-cloud storage race. We think this confirms our view that Iron Mountain faces a negative trend to its moat. The most recent news does not fundamentally alter our view of the company, and we plan to maintain our $40 per share fair value estimate and narrow moat rating.Iron Mountain has faced anemic growth, particularly in its moat-less service business. This business faces a decline as physical records and data backu...
Iron Mountain is a holding company. Through its subsidiaries, the company stores physical records and data backup media, providing information management solutions, and providing data center space for colocation and hyperscale deployments. The company's segments are: Global Records and Information Management Business, which provides records management, data management, information governance and digital solutions, secure shredding, and consumer storage; Global Data Center Business, which provides data center facilities; and Corporate and Other Business, which provides entertainment and media that helps industry clients store, safeguard and deliver physical media of various types.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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