Iron Mountain is executing an aggressive expansion into data centers and ALM, driving revenue growth to 18.5% YoY in 2026Q2, but this growth is heavily debt-financed, with total debt reaching $19.6B and shareholders' equity at -$1.3B. The company's AFFO has be...
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Revenue growth accelerated to 18.5% YoY in 2026Q2, reaching $2.0B, but NOI margin declined to 52.8% from 55.9% a year earlier, reflecting a mix shift toward lower-margin ALM and data center operations.
Iron Mountain’s records and information management (RIM) business shows strong pricing power and consistent revenue growth. The company’s customer retention rate was 93.3% in Q4 2025, ensuring a steady stream of recurring revenue.
The data center portfolio was 97% leased in Q4 2025 and the firm aims to nearly triple its capacity. Data‑center revenues grew 30% in 2025 and are projected to rise by over 25% in 2026, supported by a significant pre‑leased backlog.
The asset lifecycle management (ALM) and digital solutions (DS) segments are expanding quickly. New government contracts, including an expanded U.S. Treasury deal to digitize tax returns, are adding recurring revenue and opening additional opportunities.
Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q3 2026Latest Aug 5, 2026 | $0.60+10.5% vs $0.54 | $2.0B+3.1% vs $2.0B |
Q2 2026 Apr 30, 2026 | $0.60+19.8% vs $0.50 | $1.9B+4.0% vs $1.9B |
Q1 2026 Feb 12, 2026 | $0.61+3.7% vs $0.59 | $1.8B+2.0% vs $1.8B |
Q4 2025 Nov 5, 2025 | $0.54-8.2% vs $0.59 | $1.8B+0.0% vs $1.8B |
The disposition of 6,000 shares on September 1, 2026, realized a total transaction value of ~$694,000. The sale involved ~6% of the equity stake held directly by the executive prior to the transaction.
Bank of America Corp DE purchased a new stake in shares of Iron Mountain Incorporated (NYSE: IRM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,118,827 shares of the financial services provider's stock, valued at approximately $141,319,000. Bank
IRM partners with the Opera national de Paris to digitize performance posters, preserve cultural heritage and expand global access.
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Benchmark IRM against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Iron Mountain Incorporated (IRM)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $115.09 | $34.24B | 234.88 | 12.22% | 2.1% | — | 2.68% | |
| $133.84 | $28.28B | 29.16 | 1.19% | 27.96% | 6.7% | — | |
| $286.73 | $53.47B | 31.82 | 2.74% | 41.8% | 21.89% | — | |
| $38.14 | $8.66B | 26.12 | 5.33% | 29.41% | 12.17% | — | |
| $43.40 | $3.35B | 62.00 | -2.26% | 10.48% | 5.05% | — | |
| $1.83 | $1.17B | -6.10 | -3.97% | -13.84% | -7% | — |
Iron Mountain Incorporated (IRM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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Iron Mountain Incorporated (IRM) SEC filings — annual & quarterly reports (10-K, 10-Q)
Aug 5, 2026·SEC
Jun 26, 2026·SEC
May 12, 2026·SEC
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Iron Mountain Incorporated (IRM) stock FAQ — growth, dividends, profitability & financials explained
Iron Mountain Incorporated (IRM) reported $7.56B in revenue for fiscal year 2025. This represents a 5729% increase from $129.7M in 1996.
Iron Mountain Incorporated (IRM) grew revenue by 12.2% over the past year. This is steady growth.
Yes, Iron Mountain Incorporated (IRM) is profitable, generating $418.7M in net income for fiscal year 2025 (2.1% net margin).
Yes, Iron Mountain Incorporated (IRM) pays a dividend with a yield of 2.68%. This makes it attractive for income-focused investors.
Iron Mountain Incorporated (IRM) generated Funds From Operations (FFO) of $1.47B in the trailing twelve months. FFO is the primary profitability metric for REITs.
