Iron Mountain Incorporated
IRMIron Mountain posts record Q2 2026, beats estimates with adjusted EPS $1.44 on $2.03B revenue, raises 2026 outlook on ALM, data centers
| Metric | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.15B | $5.48B | $5.10B | $4.49B | $4.15B | $4.26B | $4.23B | $3.85B |
| Cost of Revenue | $2.70B | $2.36B | $2.19B | $1.89B | $1.76B | $1.83B | $1.80B | $1.69B |
| Gross Profit | $3.45B | $3.12B | $2.91B | $2.60B | $2.39B | $2.43B | $2.42B | $2.16B |
| Gross Margin | 56.15% | 56.98% | 57.11% | 57.98% | 57.63% | 56.99% | 57.37% | 56.18% |
| Operating Expenses | $2.44B | $2.20B | $1.86B | $1.75B | $1.46B | $1.65B | $1.62B | $1.53B |
| Operating Income | $1.01B | $921.78M | $1.05B | $854.17M | $934.78M | $781.34M | $808.27M | $634.05M |
| Operating Margin | 16.42% | 16.82% | 20.57% | 19.02% | 22.54% | 18.33% | 19.13% | 16.49% |
| Net Income | $180.16M | $184.23M | $556.98M | $450.22M | $342.69M | $267.38M | $363.35M | $183.82M |
| Net Margin | 2.93% | 3.36% | 10.91% | 10.02% | 8.26% | 6.27% | 8.60% | 4.78% |
| EPS (Basic) | $0.61 | $0.63 | $1.92 | $1.56 | $1.19 | $0.93 | $1.27 | $0.64 |
| EBITDA | $1.91B | $1.62B | $1.87B | $1.75B | $1.47B | $1.43B | $1.48B | $1.08B |
| Stock Option Compensation Expense | $118.14M | $73.80M | $56.86M | $61.00M | $37.67M | $35.65M | $31.17M | $30.02M |
| Price To Earnings Ratio | 171.16 | 110.89 | 26.03 | 33.64 | 24.79 | 34.21 | 25.50 | 54.58 |
| Price To Sales Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Shares Outstanding | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Market Capitalization | $30.84B | $20.43B | $14.50B | $15.15B | $8.50B | $9.15B | $9.27B | $10.03B |
| Metric | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|
| Cash & Short Term Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Short Term Receivables | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Inventories | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Property, Plant & Equipment | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Investments and Advances | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Note Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Intangible Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Deferred Tax Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Assets | $18.72B | $17.47B | $16.14B | $14.45B | $14.15B | $13.82B | $11.85B | $10.97B |
| Short Term Debt Incl. Current Port. of LT Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Payable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax Payable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Provision for Risks Charges | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Deferred Tax Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $18.94B | $17.08B | $15.41B | $13.52B | $13.01B | $12.35B | $9.99B | $8.67B |
| Non-Equity Reserves | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Preferred Stock - Carrying Value | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Common Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Shareholders Equity | $-503.12M | $211.65M | $636.67M | $855.95M | $1.14B | $1.46B | $1.86B | $2.30B |
| Accumulated Minority Interest | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $-503.12M | $211.65M | $636.67M | $855.95M | $1.14B | $1.46B | $1.86B | $2.30B |
| Total Liabilities & Stockholders Equity | $18.72B | $17.47B | $16.14B | $14.45B | $14.15B | $13.82B | $11.85B | $10.97B |
| Book Value Per Share | $-0.77 | $1.33 | $2.52 | $3.21 | $3.94 | $5.10 | $6.50 | $8.65 |
| Tangible Book Value Per Share | $-22.45 | $-20.24 | $-19.17 | $-16.29 | $-16.48 | $-15.38 | $-14.31 | $-11.97 |
| Full-Time Employees | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price to Book Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 0.96% | 1.05% | 3.45% | 3.12% | 2.42% | 1.94% | 3.07% | 1.68% |
| Return on Equity | -35.81% | 87.05% | 87.48% | 52.60% | 30.15% | 18.26% | 19.52% | 8.00% |
| Return on Invested Capital | 4.55% | 4.85% | 6.40% | 4.73% | 6.83% | 5.12% | 6.91% | 5.70% |
| Quick Ratio | 0.55 | 0.78 | 0.81 | 0.71 | 0.64 | 0.63 | 0.83 | 1.47 |
| Current Ratio | 0.55 | 0.78 | 0.81 | 0.71 | 0.64 | 0.63 | 0.83 | 1.47 |
| Metric | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|
| Net Income | $180.16M | $184.23M | $556.98M | $450.22M | $342.69M | $267.38M | $363.35M | $183.82M |
| Depreciation | $926.49M | $793.02M | $745.64M | $696.97M | $669.45M | $674.94M | $655.19M | $522.38M |
| Other Funds (Non Cash) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Funds from Operations | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Extraordinary Item | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Changes in Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Taxes Payable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash from Operating Activities | $1.20B | $1.11B | $927.70M | $758.90M | $987.66M | $966.65M | $935.55M | $720.97M |
| Capital Expenditures | $1.85B | $1.35B | $883.58M | $624.38M | $453.25M | $748.46M | $532.54M | $418.32M |
| Net Assets From Acquisitions | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Sale of Fixed Assets and Businesses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Purchase or Sale of Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Purchase of Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Sale Or Maturity of Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Uses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Sources | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash from Investing Activities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash Dividends Paid | $789.53M | $737.65M | $724.39M | $718.34M | $716.29M | $704.53M | $673.63M | $440.00M |
| Change in Capital Stock | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Repurchase of Common Pref Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Sale of Common Pref Stock | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Proceeds from Stock Options | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Issuance or Reduction of Debt, Net | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Change in Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Issuance of Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Reduction of Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Financing Active Other Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Financing Activities Uses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash from Financing Activities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Exchange Rate Effect | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Change in Cash | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | $-657.24M | $-231.53M | $44.11M | $134.53M | $534.40M | $218.20M | $403.01M | $302.65M |
| Preferred Dividends (Cash Flow) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price to Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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About the company
Established in 1951, Iron Mountain Incorporated (NYSE: IRM) has become the world's foremost authority in storage and information management solutions. More than 225,000 organizations globally trust Iron Mountain with their critical assets. With an extensive physical infrastructure spanning over 90 million square feet, the company operates approximately 1,450 facilities in around 50 countries. Within this vast network, Iron Mountain safeguards billions of valued items, including vital corporate records, highly confidential digital assets, and invaluable cultural and historical artifacts. Their comprehensive suite of offerings encompasses secure document archiving, robust information governance, digital transformation initiatives, confidential destruction services, along with advanced data centers, cloud computing solutions, and specialized art storage and logistics. These services empower clients to mitigate costs and risks, ensure regulatory compliance, facilitate swift disaster recovery, and enable a more efficient, digital-first operational model.