Iron Mountain Inc. (IRM) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.56	$0.6	+7.1%	—	$2B	—
Q1 26	$0.52	$0.6	+15.4%	—	$1.9B	—
Q4 25	$0.59	$0.61	+3.4%	—	$1.8B	—
Q2 25	$0.5	$0.48	-4.0%	—	$1.7B	—
Q1 25	$0.4	$0.43	+7.5%	—	$1.6B	—
Q4 24	$0.53	$0.5	-5.7%	—	$1.6B	—
Q3 24	$0.48	$0.44	-8.3%	—	$1.6B	—
Q2 24	$0.44	$0.42	-4.5%	—	$1.5B	—
Q1 24	$0.43	$0.43	0.0%	—	$1.5B	—
Q4 23	$0.45	$0.52	+15.6%	—	$1.4B	—
Q3 23	$0.44	$0.45	+2.3%	—	$1.4B	—
Q2 23	$0.41	$0.4	-2.4%	—	$1.4B	—
Q1 23	$0.35	$0.42	+20.0%	—	$1.3B	—
Q4 22	$0.44	$0.43	-2.3%	—	$1.3B	—
Q3 22	$0.44	$0.48	+9.1%	—	$1.3B	—
Q2 22	$0.4	$0.46	+15.0%	—	$1.3B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$0.49	—	—	$6.9B	—
FY24	—	$0.61	—	—	$6.1B	—
FY23	—	$0.63	—	—	$5.5B	—
FY22	—	$1.92	—	—	$5.1B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$3.5B	$3.8B	$4.2B	$4.3B	$4.1B	$4.5B	$5.1B	$5.5B	$6.1B	$6.9B
YoY change	+16.7%	+9.52%	+9.89%	+0.87%	-2.71%	+8.3%	+13.6%	+7.38%	+12.2%	+12.2%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	3.5B	3.8B	4.2B	4.3B	4.1B	4.5B	5.1B	5.5B	6.1B	6.9B
Cost of revenue	1.6B	1.7B	1.8B	1.8B	1.8B	1.9B	2.2B	2.4B	2.7B	3.1B
Gross profit	1.9B	2.2B	2.4B	2.4B	2.4B	2.6B	2.9B	3.1B	3.5B	3.8B
Gross margin	55.4%	56.7%	57.5%	57%	57.6%	58%	57.1%	57%	56.2%	55.4%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	859.6M	922.4M	988.4M	991.7M	949.2M	1B	1.1B	1.2B	1.3B	1.4B
Operating expenses	976.6M	1.1B	1.1B	1.2B	949.2M	1B	1.1B	1.2B	1.3B	1.4B
Operating income	631.7M	736M	803.9M	779.4M	788.6M	901.3M	1B	1.1B	1.2B	1.4B
Operating margin	18%	19.1%	19%	18.3%	19%	20.1%	20.5%	20.3%	19.7%	20.3%
Non-operating income, net	-174.4M	-181.4M	16M	-32M	2.6M	145.7M	73.4M	-296.9M	-246.8M	-363.4M
Pretax income	146.6M	201M	410.3M	328.1M	372.7M	629M	631.6M	227.2M	244.5M	211.2M
Income tax	44.9M	23M	42.8M	59.9M	29.6M	176.3M	69.5M	39.9M	60.9M	58.9M
Net income	107.2M	171.7M	355.1M	268.3M	343.1M	452.7M	562.1M	187.3M	183.7M	152.3M
Net margin	3.05%	4.47%	8.4%	6.29%	8.27%	10.1%	11%	3.42%	2.99%	2.21%
EBITDA	1.1B	1.3B	1.5B	1.5B	1.3B	1.8B	1.8B	1.8B	2.1B	2.5B
EPS	0.43	0.64	1.24	0.93	1.19	1.56	1.92	0.63	0.61	0.49
Diluted EPS	0.42	0.64	1.23	0.93	1.19	1.55	1.9	0.63	0.61	0.49

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	1.4B	1.4B	1.5B	1.5B	1.6B	1.6B	1.6B	1.7B	1.8B	1.8B	1.9B	2B
Cost of revenue	592.2M	601.3M	653.3M	676M	678.4M	688.9M	710.2M	754.8M	791.9M	822.5M	889.8M	958.6M
Gross profit	796M	818.5M	823.6M	858.4M	879M	892.3M	882.3M	957.1M	962.2M	1B	1B	1.1B
Gross margin	57.3%	57.6%	55.8%	55.9%	56.4%	56.4%	55.4%	55.9%	54.9%	55.4%	54%	52.8%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	315M	314.9M	319.5M	344.8M	341.9M	333.3M	329.7M	390.5M	335.2M	338.5M	372.8M	402.3M
Operating expenses	315M	314.9M	319.5M	344.8M	341.9M	333.3M	329.7M	390.5M	335.2M	338.5M	372.8M	402.3M
Operating income	282.2M	303.6M	294.6M	289.1M	304.8M	324.4M	320.4M	314.1M	364.7M	404.7M	405.7M	386.7M
Operating margin	20.3%	21.4%	19.9%	18.8%	19.6%	20.5%	20.1%	18.3%	20.8%	22%	21%	19.1%
Non-operating income, net	-28.1M	-113.6M	-36.4M	-64.6M	-140M	-5.7M	-94.6M	-136.1M	-52.1M	-80.6M	-5.8M	-42.4M
Pretax income	101.3M	38.2M	93.6M	47.9M	-21.3M	124.2M	31.1M	-27M	102.8M	104.3M	176.1M	120.9M
Income tax	9.9M	9M	16.6M	13.3M	12.4M	18.5M	14.8M	16.3M	16.6M	11.2M	27.1M	14.8M
Net income	91.4M	29.2M	77M	34.6M	-33.7M	105.7M	16.2M	-43.3M	86.2M	93.1M	149M	106.1M
Net margin	6.58%	2.06%	5.22%	2.26%	-2.16%	6.68%	1.02%	-2.53%	4.92%	5.05%	7.7%	5.23%
EBITDA	472M	528.8M	504M	514.9M	503.7M	631.3M	565.1M	584.2M	640.5M	684.6M	663.3M	634.5M
EPS	0.31	—	0.25	0.12	-0.11	0.35	0.05	-0.15	0.28	0.3	0.48	0.34
Diluted EPS	0.31	—	0.25	0.12	-0.11	0.35	0.05	-0.15	0.28	0.3	0.48	0.34

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	10B	9.3B	9.1B	8.5B	15.1B	14.5B	20.4B	30.8B	24.5B	33.1B
Enterprise value	—	16.1B	17.2B	19.6B	19.3B	26.6B	27.6B	35B	47B	43.4B	53.3B
Shares outstanding	246.2M	265.9M	285.9M	287M	288.2M	289.5M	290.8M	291.9M	293.4M	295.4M	295.4M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	58.4	26.1	34.1	24.8	33.5	25.8	109.1	167.9	160.9	79
P/S	—	2.61	2.19	2.15	2.05	3.37	2.84	3.73	5.01	3.55	4.38
P/B	—	4.36	4.98	6.25	7.47	16.3	19.8	52.4	-136.1	-38	-37.1
EV/EBITDA	—	12.3	11.8	13.5	14.6	14.9	15.3	19	21.9	17.5	20.9
EV/Sales	—	4.2	4.08	4.59	4.65	5.92	5.42	6.39	7.65	6.29	7.05
Earnings yield	—	1.71%	3.83%	2.93%	4.04%	2.99%	3.88%	0.92%	0.6%	0.62%	1.27%
FCF yield	—	3.02%	4.35%	2.39%	6.29%	0.89%	0.3%	-1.13%	-2.13%	-4.11%	-1.32%
PEG	—	—	—	—	—	—	—	—	—	—	-0.24

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	55.4%	56.7%	57.5%	57%	57.6%	58%	57.1%	57%	56.2%	55.4%	52.8%
Operating margin	18%	19.1%	19%	18.3%	19%	20.1%	20.5%	20.3%	19.7%	20.3%	19.1%
Net margin	3.05%	4.47%	8.4%	6.29%	8.27%	10.1%	11%	3.42%	2.99%	2.21%	5.54%
ROE	5.54%	7.47%	19.1%	18.3%	30.2%	48.7%	76.8%	48.1%	-81.1%	-23.6%	-22.4%
ROA	1.13%	1.57%	3%	1.94%	2.42%	3.13%	3.48%	1.07%	0.98%	0.72%	4.63%
ROIC	5.51%	7.75%	7.32%	5.36%	6.09%	5.24%	6.71%	6.12%	5.7%	5.55%	7.27%
Return on tangible assets	-12.4%	558%	-726.1%	13%	14.4%	14.3%	15.9%	3.84%	3.06%	1.9%	4.85%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.06	1.47	0.81	0.63	0.64	0.71	0.81	0.78	0.55	0.74	0.73
Quick ratio	1.06	1.47	0.81	0.63	0.64	0.71	0.81	0.78	0.55	0.74	0.73
Debt / equity	3.23	3.06	4.37	7.25	9.68	12.6	18.2	37.9	-72.3	-29.5	-0.22
Debt / assets	0.66	0.64	0.69	0.77	0.78	0.81	0.82	0.85	0.87	0.9	0.89
Net debt / EBITDA	5.58	4.68	5.46	7.18	8.16	6.42	7.27	7.9	7.55	7.64	7.4
Interest coverage	1.46	1.56	1.99	1.77	1.87	2.48	2.27	1.38	1.33	1.25	1.57
Effective tax rate	30.6%	11.4%	10.4%	18.3%	7.94%	28%	11%	17.6%	24.9%	27.9%	13.8%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	14.3	14.5	14.8	14.9	14.4	15.5	17.5	18.8	21	23.4	25.5
EPS (basic)	0.43	0.64	1.24	0.93	1.19	1.56	1.92	0.63	0.61	0.49	0.49
EPS (diluted)	0.42	0.64	1.23	0.93	1.19	1.55	1.9	0.63	0.61	0.49	1.41
Book value per share	7.87	8.65	6.51	5.1	3.94	3.21	2.52	1.33	-0.77	-2.18	-4.3
FCF per share	0.67	1.14	1.41	0.76	1.85	0.46	0.15	-0.79	-2.24	-3.41	-1.99
Cash per share	0.96	3.48	0.58	0.67	0.71	0.88	0.49	0.76	0.53	0.54	0.69
Capex per share	0.03	0.04	0.3	0.58	1.96	0.96	0.59	0.18	0.06	7.69	7.16

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.23%	0.24%	2.04%	3.9%	13.6%	6.2%	3.34%	0.98%	0.29%	32.9%	28.4%
Capex / operating cash flow	1.89%	1.58%	8.39%	16.6%	47.8%	24.9%	17.6%	5.43%	1.56%	169.5%	129.7%
Payout ratio	471.7%	256.2%	189.7%	262.6%	208.8%	158.7%	128.9%	393.9%	429.9%	603.9%	239.5%
Dividend yield	—	4.39%	7.27%	7.7%	8.43%	4.74%	5%	3.61%	2.56%	3.75%	3.11%

Yield

3.11%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.864

ex-dividend Sep 15, 2026

Payout ratio

240%

of earnings

Dividend growth

3 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 15, 2026	$0.864
Jun 15, 2026	$0.864
Mar 16, 2026	$0.864

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$1.4B	$1.4B	$1.5B	$1.5B	$1.6B	$1.6B	$1.6B	$1.7B	$1.8B	$1.8B	$1.9B	$2B
YoY change	+7.87%	+11%	+12.4%	+13%	+12.2%	+11.4%	+7.83%	+11.6%	+12.6%	+16.6%	+21.6%	+18.5%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	236.5M	925.7M	165.5M	193.6M	205.1M	255.8M	141.8M	222.8M	155.7M	158.5M
Receivables	691.2M	835.7M	846.9M	850.7M	859.3M	961.4M	1.2B	1.3B	1.3B	1.4B
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	1.1B	2B	1.2B	1.2B	1.3B	1.4B	1.5B	1.7B	1.7B	1.9B
Property, plant & equipment	1.4B	1.4B	1.5B	3.5B	3.7B	3.6B	4.4B	5.2B	5.4B	5.6B
Goodwill & intangibles	10.3B	10.9B	11.9B	11.8B	11.8B	11.3B	12.6B	12.6B	12.7B	13.1B
Total assets	9.5B	11B	11.9B	13.8B	14.1B	14.5B	16.1B	17.5B	18.7B	21.1B
Accounts payable	222.2M	289.1M	318.8M	324.7M	359.9M	369.1M	469.2M	539.6M	678.7M	710.7M
Short-term debt	173M	146.3M	126.4M	612.3M	444M	569M	376.3M	412.5M	1B	535.2M
Total current liabilities	1B	1.3B	1.5B	1.9B	2B	2B	1.9B	2.2B	3.1B	2.6B
Long-term debt	6.1B	6.9B	8B	10B	10.6B	11.1B	12.9B	14.4B	15.3B	18.5B
Total liabilities	7.6B	8.7B	10B	12.4B	13B	13.5B	15.4B	17.1B	18.9B	21.8B
Shareholders' equity	1.9B	2.3B	1.9B	1.5B	1.1B	929.5M	732M	389.7M	-226.5M	-644.9M
Total debt	6.3B	7B	8.1B	10.6B	11B	11.7B	13.3B	14.8B	16.4B	19.1B
Net debt	6B	6.1B	8B	10.4B	10.8B	11.4B	13.1B	14.6B	16.2B	18.9B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	170.5M	222.8M	191.7M	144.3M	168.5M	155.7M	155.3M	218M	195.2M	158.5M	250.7M	204.8M
Receivables	1.2B	1.3B	1.3B	1.3B	1.2B	1.3B	1.3B	1.4B	1.4B	1.4B	1.4B	1.5B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	1.6B	1.7B	1.7B	1.7B	1.7B	1.7B	1.8B	1.9B	1.9B	1.9B	2B	2.1B
Property, plant & equipment	8.5B	5.2B	9.2B	9.4B	9.8B	5.4B	10.6B	11.2B	11.6B	5.6B	12.3B	12.7B
Goodwill & intangibles	12.6B	12.6B	12.9B	12.8B	13B	12.7B	12.8B	12.9B	13B	13.1B	13B	13B
Total assets	16.9B	17.5B	17.8B	18B	18.5B	18.7B	19.4B	20.2B	20.6B	21.1B	21.5B	22B
Accounts payable	448.3M	539.6M	524.9M	528M	586.8M	678.7M	707.6M	650.9M	658.1M	710.7M	782.5M	857.2M
Short-term debt	108M	412.5M	118.8M	125.4M	136.5M	1B	736.9M	777.9M	699.3M	535.2M	217M	220.8M
Total current liabilities	2B	2.2B	2B	2.2B	2.3B	3.1B	2.8B	3B	2.9B	2.6B	2.7B	2.9B
Long-term debt	14B	14.4B	15.1B	15.3B	15.7B	15.3B	16.4B	17.1B	17.8B	18.5B	19.2B	19.4B
Total liabilities	16.5B	17.1B	17.6B	17.9B	18.5B	18.9B	19.8B	20.7B	21.2B	21.8B	22.4B	22.8B
Shareholders' equity	425.9M	389.7M	197.9M	52.1M	-31.9M	-226.5M	-424M	-492M	-607.8M	-644.9M	-874.6M	-891.8M
Total debt	14.1B	14.8B	15.2B	15.4B	15.8B	16.4B	17.1B	17.9B	18.5B	19.1B	19.4B	19.6B
Net debt	14B	14.6B	15B	15.2B	15.7B	16.2B	17B	17.6B	18.3B	18.9B	19.1B	19.4B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	107.2M	171.7M	355.1M	268.3M	343.1M	452.7M	562.1M	187.3M	183.7M	152.3M
Depreciation & amortization	452.3M	522.4M	655.2M	674.9M	669.4M	697M	745.6M	793M	926.5M	1.1B
Stock-based compensation	29M	30M	31.2M	35.7M	37.7M	61M	56.9M	73.8M	118.1M	140.3M
Change in working capital	-139M	-126.8M	-38.9M	8.8M	134.3M	-131.7M	-252.4M	-40.6M	-72.4M	-60.5M
Operating cash flow	421.2M	590.4M	1B	1B	1.2B	1.1B	970.8M	985.3M	1.1B	1.3B
Capital expenditure	8M	9.3M	86.2M	166.1M	564.7M	278.3M	170.4M	53.5M	18M	-2.3B
Investing cash flow	-253.3M	-181.1M	-1.7B	12.5M	367.8M	151.1M	-776.8M	-99.3M	-282.8M	-2.5B
Dividends paid	-505.9M	-440M	-673.6M	-704.5M	-716.3M	-718.3M	-724.4M	-737.6M	-789.5M	-919.4M
Share repurchases	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-213.6M	14.7M	1.7B	-675.3M	-1.6B	-438.9M	2B	628.7M	888.9M	1.3B
Net change in cash	-45.7M	424M	1B	337.9M	-2.7M	828.7M	2.2B	1.5B	1.8B	132.4M
Free cash flow	164.5M	302.7M	403M	218.2M	534.4M	134.5M	44.1M	-231.5M	-657.2M	-1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	91.4M	29.2M	77M	34.6M	-33.7M	105.7M	16.2M	-43.3M	86.2M	93.1M	149M	106.1M
Depreciation & amortization	190.7M	216.8M	209.6M	230.6M	220M	260.2M	240M	260.4M	271M	285.9M	275.9M	289.5M
Stock-based compensation	18.3M	20.6M	14M	29.9M	29.6M	44.6M	26.1M	60.4M	32.1M	21.7M	28.3M	56.8M
Change in working capital	-67M	166.4M	-174.4M	66.6M	-72.9M	108.4M	-106.1M	62.5M	-115.3M	98.3M	-135.5M	53.4M
Operating cash flow	238.1M	393.7M	134.7M	361.6M	154.6M	498.3M	171.2M	375.1M	267.6M	500M	338.6M	549.3M
Capital expenditure	9.3M	8.8M	5.6M	318K	427K	11.6M	190K	-556.8M	-523.9M	-516.2M	-518M	-588.2M
Investing cash flow	-25.1M	-32.3M	-142.2M	-36.2M	-83.7M	-20.8M	-83.1M	-593M	-608.9M	-552.4M	-532.6M	-601.8M
Dividends paid	-180.6M	-190M	-198M	-190.7M	-190.8M	-210M	-223.5M	-231.8M	-232M	-232.2M	-275.6M	-257.2M
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	570.9M	235.3M	391.6M	-160K	266.5M	231M	642.6M	293.4M	311.6M	57.1M	372.4M	25.4M
Net change in cash	783.9M	596.7M	384.2M	325.3M	337.5M	708.5M	730.7M	75.6M	-29.7M	4.7M	178.3M	-27.1M
Free cash flow	-144.4M	70.2M	-253.4M	-15.8M	-145.5M	-242.6M	-486.4M	-182.6M	-267.6M	-70.5M	-182.7M	-75.9M

Date	Ratio
Sep 26, 2014	1082:1000
Jan 3, 2007	3:2
Jul 1, 2004	3:2
Jan 2, 2002	3:2
Jan 5, 2000	1:1
Aug 3, 1998	3:2

Iron Mountain Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history