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IRM logoIron Mountain Incorporated(IRM)Earnings, Financials & Key Ratios

IRM•NYSE•REIT / Real Estate
$131.70
$39.18B mkt cap·268.8× P/E·Price updated May 6, 2026
SectorReal EstateIndustrySpecialty REITsSub-IndustrySpecialty Storage and Alternative Lending
AboutIron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 90 million square feet across approximately 1,450 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts. Providing solutions that include secure records storage, information management, digital transformation, secure destruction, as well as data centers, cloud services and art storage and logistics, Iron Mountain helps customers lower cost and risk, comply with regulations, recover from disaster, and enable a more digital way of working.Show more
  • Revenue$6.9B+12.2%
  • FFO$1.17B+5.6%
  • FFO/Share3.93+5.1%
  • FFO Payout78.65%+10.2%
  • FFO per Share3.93+5.1%
  • NOI Margin25.69%-54.2%
  • FFO Margin16.94%-5.9%
  • ROA0.73%-27.1%
  • Debt/Assets90.18%+3.1%
  • Net Debt/EBITDA7.78-7.2%
  • Book Value/Share-2.17-183.2%
Analysis→Technical→

IRM Key Insights

Iron Mountain Incorporated (IRM) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Excellent 3Y average ROE of 126.8%
  • ✓FFO growing 19.7% TTM
  • ✓Sustainable FFO payout ratio of 78.6%
  • ✓Momentum leader: RS Rating 83 (top 17%)
  • ✓Healthy dividend yield of 2.3%
  • ✓Trading near 52-week high

✗Weaknesses

  • ✗Profits declining 15.9% over 5 years
  • ✗Low NOI margin of 25.7%
  • ✗Dividend payout exceeds 100% of earnings

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

IRM Price & Volume

Iron Mountain Incorporated (IRM) stock price & volume — 10-year historical chart

Loading chart...

IRM Growth Metrics

Iron Mountain Incorporated (IRM) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years8.66%
5 Years10.72%
3 Years10.58%
TTM15.64%

Profit CAGR

10 Years1.61%
5 Years-15.85%
3 Years-36.21%
TTM123.11%

EPS CAGR

10 Years-1.67%
5 Years-16.26%
3 Years-36.35%
TTM119.7%

Return on Capital

10 Years7.29%
5 Years7.17%
3 Years7.01%
Last Year8.24%

IRM Recent Earnings

Iron Mountain Incorporated (IRM) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 11/12 qtrs (92%)●Beat Revenue 5/12 qtrs (42%)
Q2 2026Latest
Apr 30, 2026
EPS
$0.60
Est $0.50
+19.8%
Revenue
$1.9B
Est $1.9B
+4.0%
Q1 2026
Feb 12, 2026
EPS
$1.44
Est $0.59
+144.9%
Revenue
$1.8B
Est $1.8B
+2.0%
Q4 2025
Nov 5, 2025
EPS
$1.32
Est $1.29
+2.3%
Revenue
$1.8B
Est $1.8B
-2.7%
Q3 2025
Aug 6, 2025
EPS
$1.24
Est $1.19
+4.2%
Revenue
$1.7B
Est $1.8B
-2.7%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 30, 2026
$0.60vs $0.50+19.8%
$1.9Bvs $1.9B+4.0%
Q1 2026Feb 12, 2026
$1.44vs $0.59+144.9%
$1.8Bvs $1.8B+2.0%
Q4 2025Nov 5, 2025
$1.32vs $1.29+2.3%
$1.8Bvs $1.8B-2.7%
Q3 2025Aug 6, 2025
$1.24vs $1.19+4.2%
$1.7Bvs $1.8B-2.7%
Based on last 12 quarters of dataView full earnings history →

IRM Peer Comparison

Iron Mountain Incorporated (IRM) competitors in Specialty Storage and Alternative Lending — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
EXR logoEXRExtra Space Storage Inc.Direct Competitor29.52B139.7930.461.19%28.84%6.69%6.2%1.05
PSA logoPSAPublic StorageDirect Competitor52.46B298.8233.172.74%39.16%20.27%5.52%1.10
CUBE logoCUBECubeSmartDirect Competitor8.93B39.1726.835.33%28.93%11.7%6.35%1.27
NSA logoNSANational Storage Affiliates TrustDirect Competitor3.23B41.9059.85-2.26%11.92%5.74%9.28%2.23
CLVT logoCLVTClarivate PlcProduct Competitor1.77B2.77-9.23-3.97%-5.62%-2.81%20.63%0.92
GXO logoGXOGXO Logistics, Inc.Product Competitor5.74B49.85178.0412.55%1.25%5.7%0%2.62
STAG logoSTAGSTAG Industrial, Inc.Product Competitor7.28B38.0526.0610.14%28.26%6.8%5.52%0.90
REXR logoREXRRexford Industrial Realty, Inc.Product Competitor8.44B35.5541.347.13%21.29%2.34%2.47%0.40

Compare IRM vs Peers

Iron Mountain Incorporated (IRM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs EXR

Most directly comparable listed peer for IRM.

Scale Benchmark

vs EQIX

Larger-name benchmark to compare IRM against a more recognizable public peer.

Peer Set

Compare Top 5

vs EXR, PSA, CUBE, NSA

IRM Income Statement

Iron Mountain Incorporated (IRM) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Revenue3.85B4.23B4.26B4.15B4.49B5.1B5.48B6.15B6.9B7.25B
Revenue Growth %9.52%9.89%0.87%-2.71%8.3%13.63%7.38%12.22%12.22%15.64%
Property Operating Expenses1.69B1.8B1.83B1.76B1.89B2.19B2.36B2.7B5.13B3.26B
Net Operating Income (NOI)
2.16B▲ 0%
2.42B▲ 12.2%
2.43B▲ 0.2%
2.39B▼ 1.6%
2.6B▲ 9.0%
2.91B▲ 11.9%
3.12B▲ 7.1%
3.45B▲ 10.6%
1.77B▼ 48.6%
3.99B▲ 0%
NOI Margin %56.18%57.37%56.99%57.63%57.98%57.11%56.98%56.15%25.69%55.02%
Operating Expenses1.55B1.62B1.65B1.46B1.75B1.86B2.2B2.44B367.87M2.68B
G&A Expenses905.73M977.31M991.66M913.17M1.02B1.14B1.24B1.34B1.39B1.44B
EBITDA1.16B1.46B1.46B1.6B1.55B1.8B1.71B1.94B2.43B2.33B
EBITDA Margin %30.07%34.63%34.16%38.68%34.53%35.18%31.29%31.48%35.21%32.18%
Depreciation & Amortization522.38M655.19M674.94M669.45M696.97M745.64M793.02M926.49M1.02B1.03B
D&A / Revenue %13.58%15.5%15.83%16.14%15.52%14.61%14.47%15.07%14.84%14.17%
Operating Income
634.05M▲ 0%
808.27M▲ 27.5%
781.34M▼ 3.3%
934.78M▲ 19.6%
854.17M▼ 8.6%
1.05B▲ 22.9%
921.78M▼ 12.2%
1.01B▲ 9.5%
1.41B▲ 39.2%
1.3B▲ 0%
Operating Margin %16.49%19.13%18.33%22.54%19.02%20.57%16.82%16.42%20.36%18.01%
Interest Expense361.23M415.84M425.86M426.85M425.3M496.29M598.4M736.23M829.34M4M
Interest Coverage1.56x1.99x1.77x1.87x2.48x2.27x1.38x1.33x1.28x-
Non-Operating Income71.77M-18.25M27.34M135.23M-200.15M-78.06M96.17M28.75M346.27M9.8M
Pretax Income
216.1M▲ 0%
357.91M▲ 65.6%
328.14M▼ 8.3%
372.7M▲ 13.6%
629.01M▲ 68.8%
631.64M▲ 0.4%
227.21M▼ 64.0%
244.54M▲ 7.6%
211.19M▼ 13.6%
356.24M▲ 0%
Pretax Margin %5.62%8.47%7.7%8.99%14%12.38%4.15%3.98%3.06%4.92%
Income Tax25.95M36.26M59.93M29.61M176.29M69.49M39.94M60.87M58.93M71.22M
Effective Tax Rate %12.01%10.13%18.26%7.94%28.03%11%17.58%24.89%27.91%19.99%
Net Income
183.82M▲ 0%
363.35M▲ 97.7%
267.38M▼ 26.4%
342.69M▲ 28.2%
450.22M▲ 31.4%
556.98M▲ 23.7%
184.23M▼ 66.9%
180.16M▼ 2.2%
144.59M▼ 19.7%
272.3M▲ 0%
Net Margin %4.78%8.6%6.27%8.26%10.02%10.91%3.36%2.93%2.09%3.76%
Net Income Growth %75.36%97.67%-26.41%28.17%31.38%23.71%-66.92%-2.21%-19.74%123.11%
Funds From Operations (FFO)
706.2M▲ 0%
1.02B▲ 44.2%
942.32M▼ 7.5%
1.01B▲ 7.4%
1.15B▲ 13.3%
1.3B▲ 13.5%
977.25M▼ 25.0%
1.11B▲ 13.2%
1.17B▲ 5.6%
1.3B▲ 0%
FFO Margin %18.36%24.1%22.11%24.4%25.54%25.52%17.83%17.99%16.94%17.93%
FFO Growth %26.75%44.23%-7.48%7.41%13.34%13.55%-24.98%13.24%5.64%96.7%
FFO per Share2.653.553.283.513.944.453.323.743.934.35
FFO Payout Ratio %62.31%66.14%74.77%70.77%62.62%55.61%75.48%71.34%78.65%53.57%
EPS (Diluted)
0.64▲ 0%
1.27▲ 98.4%
0.93▼ 26.8%
1.19▲ 28.0%
1.55▲ 30.3%
1.90▲ 22.6%
0.63▼ 66.8%
0.61▼ 3.2%
0.49▼ 19.7%
0.91▲ 0%
EPS Growth %52.38%98.44%-26.77%27.96%30.25%22.58%-66.84%-3.17%-19.67%119.7%
EPS (Basic)0.641.270.931.191.561.920.630.610.49-
Diluted Shares Outstanding266.85M286.65M287.69M288.64M290.98M292.44M293.96M296.23M297.82M298.83M

IRM Balance Sheet

Iron Mountain Incorporated (IRM) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Assets10.97B11.85B13.82B14.15B14.45B16.14B17.47B18.72B21.13B21.49B
Asset Growth %15.66%8.02%16.58%2.41%2.13%11.7%8.26%7.12%12.86%47.85%
Real Estate & Other Assets133.59M206.48M209.95M295.95M381.62M588.34M429.65M484.78M623.11M-4.38B
PP&E (Net)3.42B4.49B6.49B6.7B6.98B7.7B9.01B10.12B12.01B17.31B
Investment Securities00000001000K00
Total Current Assets1.95B1.21B1.24B1.27B1.44B1.55B1.74B1.69B1.93B2.04B
Cash & Equivalents925.7M165.49M193.56M205.06M255.83M141.8M222.79M155.72M158.53M250.71M
Receivables1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Assets00000230.43M252.93M244.13M332.78M367.74M
Intangible Assets1.41B1.51B1.39B1.33B1.18B1.42B1.28B1.27B1.27B1.23B
Total Liabilities8.67B9.99B12.35B13.01B13.52B15.41B17.08B18.94B21.77B22.43B
Total Debt7.04B8.14B10.62B11B11.7B13.29B14.79B16.37B19.05B3.77B
Net Debt6.12B7.98B10.42B10.79B11.45B13.15B14.56B16.21B18.89B3.52B
Long-Term Debt6.9B8.02B8.28B8.51B8.96B10.48B11.81B13B16.22B2.28B
Short-Term Borrowings146.3M126.41M389.01M193.76M309.43M87.55M120.67M715.11M216.07M1.49B
Capital Lease Obligations0712.84M1.95B2.29B2.43B2.72B2.85B2.65B2.62B7.16B
Total Current Liabilities1.33B1.46B1.95B2B2.02B1.92B2.24B3.09B2.62B2.66B
Accounts Payable289.14M318.76M324.71M359.86M369.14M469.2M539.59M678.72M710.66M782.55M
Deferred Revenue241.59M264.82M274.04M295.79M307.47M328.91M325.67M326.88M402.09M386.45M
Other Liabilities290.69M303.73M210.7M264.31M144.05M317.38M237.59M312.2M450.08M17.31B
Total Equity
2.3B▲ 0%
1.86B▼ 19.0%
1.46B▼ 21.4%
1.14B▼ 22.4%
929.48M▼ 18.2%
731.95M▼ 21.3%
389.72M▼ 46.8%
-226.5M▼ 158.1%
-644.91M▼ 184.7%
-938.39M▲ 0%
Equity Growth %18.7%-18.98%-21.38%-22.37%-18.23%-21.25%-46.76%-158.12%-184.72%-3157.23%
Shareholders Equity2.3B1.86B1.46B1.14B855.95M636.67M211.65M-503.12M-981.01M-1.22B
Minority Interest1.4M1.41M265K073.53M95.28M178.07M276.62M336.1M63.75M
Common Stock2.83M2.86M2.87M2.88M2.9M2.91M2.92M2.94M2.96M2.98M
Additional Paid-in Capital4.16B4.26B4.3B4.34B4.41B4.47B4.53B4.65B4.79B0
Retained Earnings-1.77B-2.14B-2.57B-2.95B-3.22B-3.39B-3.95B-4.58B-5.41B0
Preferred Stock0000000000
Return on Assets (ROA)1.8%3.18%2.08%2.45%3.15%3.64%1.1%1%0.73%1.31%
Return on Equity (ROE)8.68%17.46%16.07%26.35%43.58%67.05%32.85%220.76%--40.6%
Debt / Assets64.19%68.7%76.84%77.73%80.99%82.32%84.63%87.46%90.18%17.55%
Debt / Equity3.06x4.37x7.25x9.68x12.59x18.15x37.94x---4.02x
Net Debt / EBITDA5.29x5.45x7.16x6.73x7.38x7.32x8.49x8.37x7.78x7.78x
Book Value per Share8.616.505.093.943.192.501.33-0.76-2.17-3.14

IRM Cash Flow Statement

Iron Mountain Incorporated (IRM) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations720.97M935.55M966.65M987.66M758.9M927.7M1.11B1.2B1.34B1.34B
Operating CF Growth %32.56%29.76%3.32%2.17%-23.16%22.24%20.04%7.47%11.97%91.4%
Operating CF / Revenue %18.75%22.14%22.68%23.81%16.9%18.18%20.32%19.46%19.42%18.49%
Net Income185.43M364.55M268.31M343.1M452.73M562.15M187.26M183.67M152.25M272.3M
Depreciation & Amortization522.38M639.51M658.2M669.45M696.97M745.64M793.02M926.49M1.06B770.45M
Stock-Based Compensation30.02M31.17M35.65M37.67M61M56.86M73.8M118.14M140.28M142.44M
Other Non-Cash Items121.46M-38.66M-3.65M-183.92M-348.83M-128.6M135.34M82.23M92.34M123.26M
Working Capital Changes-101.95M-50.29M8.76M134.35M-131.67M-252.44M-40.59M-72.4M-60.55M204.39M
Cash from Investing-599.45M-2.22B-730.88M-85.44M-473.31M-1.66B-1.44B-2.14B-2.57B-2.34B
Acquisitions (Net)-190.47M-1.76B-77.46M-136.83M-68.74M-876.92M-57.68M-188.25M-101.63M-49.68M
Purchase of Investments0000000000
Sale of Investments0000000000
Other Investing9.34M68.2M95.03M504.64M219.81M100.08M-41.58M-94.56M-200.95M-129M
Cash from Financing540.42M550.68M-198.97M-886.7M-220.81M639.21M425.67M876.75M1.27B960.3M
Dividends Paid-440M-673.63M-704.53M-716.29M-718.34M-724.39M-737.65M-789.53M-919.39M-971.5M
Common Dividends-440M-673.63M-704.53M-716.29M-718.34M-724.39M-737.65M-789.53M-919.39M-695.91M
Debt Issuance (Net)1000K1000K1000K-1000K1000K1000K1000K1000K1000K1000K
Share Repurchases0000000000
Other Financing11.53M-17.55M-4.73M-25.15M-45.56M10.23M-17.08M1.16M-160.04M1.47B
Net Change in Cash
689.22M▲ 0%
-760.21M▼ 210.3%
28.07M▲ 103.7%
11.51M▼ 59.0%
50.77M▲ 341.1%
-114.03M▼ 324.6%
80.99M▲ 171.0%
-67.07M▼ 182.8%
2.82M▲ 104.2%
95.37M▲ 0%
Exchange Rate Effect27.27M-24.56M-8.73M-4.01M-14.02M-20.51M-13.88M-3.77M-30.89M-7.28M
Cash at Beginning236.48M925.7M165.49M193.56M205.06M255.83M141.8M222.79M155.72M158.53M
Cash at End925.7M165.49M193.56M205.06M255.83M141.8M222.79M155.72M158.53M250.71M
Free Cash Flow
302.65M▲ 0%
403.01M▲ 33.2%
218.2M▼ 45.9%
534.4M▲ 144.9%
134.53M▼ 74.8%
44.11M▼ 67.2%
-231.53M▼ 624.9%
-657.24M▼ 183.9%
-931.63M▼ 41.7%
-624.7M▲ 0%
FCF Growth %83.95%33.16%-45.86%144.92%-74.83%-67.21%-624.87%-183.87%-41.75%29.83%
FCF / Revenue %7.87%9.54%5.12%12.89%3%0.86%-4.22%-10.69%-13.5%-8.62%

IRM Key Ratios

Iron Mountain Incorporated (IRM) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
FFO per Share2.653.553.283.513.944.453.323.743.934.35
FFO Payout Ratio62.31%66.14%74.77%70.77%62.62%55.61%75.48%71.34%78.65%53.57%
NOI Margin56.18%57.37%56.99%57.63%57.98%57.11%56.98%56.15%25.69%55.02%
Net Debt / EBITDA5.29x5.45x7.16x6.73x7.38x7.32x8.49x8.37x7.78x7.78x
Debt / Assets64.19%68.7%76.84%77.73%80.99%82.32%84.63%87.46%90.18%17.55%
Interest Coverage1.56x1.99x1.77x1.87x2.48x2.27x1.38x1.33x1.28x-
Book Value / Share8.616.55.093.943.192.51.33-0.76-2.17-3.14
Revenue Growth9.52%9.89%0.87%-2.71%8.3%13.63%7.38%12.22%12.22%15.64%

IRM SEC Filings & Documents

Iron Mountain Incorporated (IRM) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 30, 2026·SEC

Material company update

Mar 9, 2026·SEC

Material company update

Feb 12, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 12, 2026·SEC

FY 2025

Feb 14, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

Apr 30, 2026·SEC

FY 2025

Nov 5, 2025·SEC

FY 2025

Aug 6, 2025·SEC

IRM Frequently Asked Questions

Iron Mountain Incorporated (IRM) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Iron Mountain Incorporated (IRM) reported $7.25B in revenue for fiscal year 2025. This represents a 5484% 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 $272.3M in net income for fiscal year 2025 (2.1% net margin).

Dividend & Returns

Yes, Iron Mountain Incorporated (IRM) pays a dividend with a yield of 2.34%. This makes it attractive for income-focused investors.

Industry Metrics

Iron Mountain Incorporated (IRM) generated Funds From Operations (FFO) of $1.30B in the trailing twelve months. FFO is the primary profitability metric for REITs.

Explore More IRM

Iron Mountain Incorporated (IRM) financial analysis — history, returns, DCA and operating performance tools

Full IRM Stock Analysis

Analyst verdict, bull/bear case, risk factors and peer comparison

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Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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