Iron Mountain continues to expand internationally and in data centers, maintaining its narrow moat.
Iron Mountain reported excellent fourth-quarter results and even raised certain aspects of its long-term guidance, supporting our long-term thesis on the firm. While we may adjust our medium-term assumptions, as management has revised its guidance in favor of more aggressive targets, we will maintain our $40 fair value estimate and narrow moat rating for now. Not surprisingly, the higher-margin storage business continues to drive growth for the firm, at 62% of total revenue but 81% of adjusted g...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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