Iron Mountain Incorporated

Iron Mountain Incorporated

IRM
Iron Mountain IncorporatedUS flagNew York Stock Exchange
116.86
USD
+1.88
- -
34.77BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
15.84
15.97
14.27
14.26
14.46
14.78
14.85
14.39
15.52
17.55
18.68
20.96
23.36
25.5
Basic EPS, GAAP
0.51
1.67
0.58
0.43
0.64
1.24
0.93
1.19
1.56
1.92
0.63
0.61
0.49
1.41
Free Cash Flow per Basic Share
2.5
2.25
2.31
2
2.43
3.02
3.18
3.38
2.58
3.16
3.78
3.87
4.28
5.22
Dividend per Share
1.08
2.78
1.93
2.05
1.65
2.36
2.46
2.49
2.48
2.49
2.51
2.69
3.11
3.36
Book Value per Share
5.44
4.08
2.41
7.34
8.11
6.5
5.1
3.94
2.95
2.19
0.72
-1.71
-3.32
-4.3
Tangible Book Value per Share
-10.6
-10.38
-11.63
-12.28
-11.21
-14.29
-15.37
-16.47
-16.53
-19.49
-20.83
-23.37
-25.48
-26.15
Basic Weighted Avg Shares
191
195
211
246
266
286
287
288
289
291
293
293
295
297
Sales/Revenue/Turnover
3,025
3,118
3,008
3,511
3,846
4,226
4,263
4,147
4,492
5,104
5,480
6,150
6,902
7,562
Operating Margin (%)
16.56
18.11
19.61
17.99
19.14
19.02
18.28
19.02
20.07
20.5
20.26
19.72
20.34
20.65
Depreciation Expense
322
353
345
452
522
655
675
669
697
746
793
926
1,057
1,122
Net Income, GAAP
96
326
123
105
170
354
267
343
450
557
184
180
145
419
Effective Tax Rate (%)
38.86
- -
23.27
30.65
11.43
10.42
18.26
7.94
28.03
11
17.58
24.89
27.91
13.83
Profit Margin (%)
3.19
10.46
4.1
2.99
4.42
8.38
6.27
8.26
10.02
10.91
3.36
2.93
2.09
5.54
Working Capital
-35
61
16
66
620
-283
-713
-726
-577
-370
-501
-1,396
-685
-794
LT Debt
4,119
4,564
4,758
6,078
6,897
8,016
10,004
10,554
11,134
12,911
14,375
15,339
18,516
19,394
Total Equity
1,052
870
529
1,937
2,299
1,862
1,464
1,137
929
732
390
-227
-645
-892
Return on Invested Capital (%)
6.03
- -
8.38
6.5
7.45
7.41
5.73
5.96
5.24
7.02
6.3
5.85
5.89
7.5
Return on Capital (%)
4.91
- -
6.02
4.76
5.57
7.5
5.56
6.07
6.09
7.46
4.62
4.66
4.33
6.48
Return on Common Equity (%)
8.8
34.37
18.05
8.57
8.04
17.02
16.08
26.35
45.19
74.63
43.44
- -
- -
- -

Capital Structure

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
535
217
221
LT Borrowings
16,216
16,886
17,129
LT Finance Leases
2,300
2,282
2,265
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
296
297
298
Market Capitalization
24,536
30,384
37,598

Working Capital

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
1,935
2,043
2,104
Cash, Cash Equivalents & STI
159
251
205
Accounts Receivable, Net
1,444
1,425
1,487
Inventories
- -
- -
- -
Total Current Liabilities
2,619
2,658
2,898
Payables & Accruals
1,405
2,054
2,279
ST Debt
535
217
221
Deferred Revenue
402
386
398

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
16.27%
-11.93%
184.72%
Free Cash Flow
11.26%
6.87%
11.48%
Net Income, GAAP
12.53%
-6.76%
-19.74%
Sales/Revenue/Turnover
8.81%
10.75%
12.23%
Total Cash Common Dividend
9.72%
5.29%
16.45%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,477
1,534
1,557
1,581
6,150
2025
1,593
1,712
1,754
1,843
6,902
2026
1,936
2,029
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.25
0.12
-0.11
0.35
0.61
2025
0.05
-0.15
0.28
0.3
0.49
2026
0.48
0.34
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.68
0.65
0.65
0.71
2.69
2025
0.76
0.78
0.78
0.78
3.11
2026
0.93
0.86
- -
- -
- -

Company Description

CEO
William L. Meaney
Full Time Employees
29,400
Sector
Real Estate
Industry
REIT - Specialty
Address
85 New Hampshire Avenue Portsmouth NH United States of America 03801
IPO Date
Feb 1, 1996
Business
Iron Mountain Incorporated provides information management services, including records and information management, data centers, secure shredding and destruction, digital transformation solutions, IT asset lifecycle management, and warehousing and logistics. The company offers records and document storage; secure shredding and wholesale destruction services; data center colocation and infrastructure across more than 30 facilities on three continents; InSight digital platform solutions encompassing content management, intelligent document processing, and information governance advisory services; asset lifecycle management including IT asset disposition, data center decommissioning, and hardware asset management; warehousing, fulfillment, and transportation; media and entertainment services; vital records storage; and invoice processing and business process management. Founded in 1951 and headquartered in Portsmouth, New Hampshire, Iron Mountain operates in 58 countries across North America, Europe, Latin America, Africa, Asia, and Oceania, serving over 220,000 customers including approximately 95% of Fortune 1000 companies. Recent developments include the January 2024 acquisition of Regency Technologies for $200 million to enhance IT asset disposition capabilities; the April 2025 acquisition of Mumbai-based data center provider Web Werks to expand into cloud computing and managed IT services in India; a joint venture with Ooredoo to strengthen Middle East data center presence; the September 2025 acquisition of ACT Logistics contributing to revenue growth; a $714 million five-year U.S. Department of the Treasury contract for digitization services; and November 2024 acquisition of two Virginia data center development sites exceeding 100 acres and 350 MW capacity, alongside plans for $1.8 billion in growth capital investments in 2025 targeting 125 MW of additional data center leasing.

Company News

  • Iron Mountain (IRM) Down 5.7% Since Last Earnings Report: Can It Rebound?

  • Iron Mountain Expands Saudi Presence With AI Digital Partnership

  • Iron Mountain Expands Footprint in the Middle East with Social Development Bank Partnership

  • Iron Mountain Expands Footprint in the Middle East with Social Development Bank Partnership

  • Iron Mountain to Present at Upcoming Financial Conferences

  • Iron Mountain to Present at Upcoming Financial Conferences

  • Canada Pension Plan Investment Board Acquires Shares of 29,362 Iron Mountain Incorporated $IRM

  • Freestone Grove Partners LP Buys Shares of 4,753 Iron Mountain Incorporated $IRM

  • 325,641 Shares in Iron Mountain Incorporated $IRM Purchased by Adelante Capital Management LLC

  • Callan Family Office LLC Buys New Stake in Iron Mountain Incorporated $IRM

  • I Don't Need A Data Center In My Backyard; I Already Own Hundreds Of Them

  • B. Metzler seel. Sohn & Co. AG Takes $4.32 Million Position in Iron Mountain Incorporated $IRM

  • Advisors Capital Management LLC Takes Position in Iron Mountain Incorporated $IRM

  • Iron Mountain: Data Center Leasing Is The Main Growth Driver

  • Iron Mountain Is Running Hot

  • Capital Financial Group Inc. Co. ADV Acquires Shares of 15,979 Iron Mountain Incorporated $IRM

  • Iron Mountain Chief Commercial Officer Sells 11,839 Shares for $1.5 Million

  • Clutter by Iron Mountain Reimagines Personal Storage, Delivering a Premium Managed Storage Solution

  • Iron Mountain (NYSE:IRM) CEO William Meaney Sells 38,474 Shares of Stock

  • Iron Mountain Q2 Earnings Call Highlights