Iron Mountain Incorporated (IRM) Revenue History
Annual and quarterly revenue from 1996 to present
IRM Revenue Over Time (1996–2025)
IRM Revenue Growth History
24 of 29 years with positive growth- FY1996 revenue growth
- N/A
- FY1997 revenue growth
- +41.4%
- FY1998 revenue growth
- +47.3%
- FY1999 revenue growth
- +92.2%
- FY2000 revenue growth
- +89.9%
- FY2001 revenue growth
- +18.7%
- FY2002 revenue growth
- +12.6%
- FY2003 revenue growth
- +13.9%
- FY2004 revenue growth
- +21.1%
- FY2005 revenue growth
- +14.3%
- FY2006 revenue growth
- +13.1%
- FY2007 revenue growth
- +16.2%
- FY2008 revenue growth
- +11.9%
- FY2009 revenue growth
- -1.4%
- FY2010 revenue growth
- -3.2%
- FY2011 revenue growth
- +3.4%
- FY2012 revenue growth
- -0.3%
- FY2013 revenue growth
- +0.7%
- FY2014 revenue growth
- +3.0%
- FY2015 revenue growth
- -3.5%
- FY2016 revenue growth
- +16.7%
- FY2017 revenue growth
- +9.5%
- FY2018 revenue growth
- +9.9%
- FY2019 revenue growth
- +0.9%
- FY2020 revenue growth
- -2.7%
- FY2021 revenue growth
- +8.3%
- FY2022 revenue growth
- +13.6%
- FY2023 revenue growth
- +7.4%
- FY2024 revenue growth
- +12.2%
- FY2025 revenue growth
- +12.2%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $1.94B | +21.6% |
| Q4 2025 | $1.84B | +16.6% |
| Q3 2025 | $1.75B | +12.6% |
| Q2 2025 | $1.71B | +11.6% |
| Q1 2025 | $1.59B | +7.8% |
| Q4 2024 | $1.58B | +11.4% |
| Q3 2024 | $1.56B | +12.2% |
| Q2 2024 | $1.53B | +13.0% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
IRM's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
IRM Revenue Analysis (1996–2025)
Current Revenue & Growth
As of June 20, 2026, Iron Mountain Incorporated (IRM) generated trailing twelve-month (TTM) revenue of $7.25 billion, reflecting exceptional growth of +21.6% year-over-year. The most recent quarter (Q1 2026) recorded $1.94 billion in revenue, up 5.0% sequentially.
Historical Growth Trajectory
IRM's 5-year compound annual growth rate (CAGR) stands at +10.7%, indicating consistent double-digit revenue growth. The 3-year CAGR of +10.6% is in line with the 5-year average, suggesting consistent growth. Iron Mountain Incorporated's highest annual revenue of $6.90 billion was recorded in 2025, an all-time high.
Revenue by Segment
IRM's revenue is primarily driven by Global Records and Information Management Business (87%), and Global Data Center Business (13%). With over half of revenue concentrated in Global Records and Information Management Business, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Real Estate sector peers — including EXR (+1.2% YoY), PSA (+2.9% YoY), and CUBE (+5.0% YoY) — IRM has outperformed the peer group in revenue growth. Compare IRM vs EXR →
IRM Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| IRMCurrent | $7.2B | +21.6% | +10.7% | 20.4% | |
 EXR | $3.4B | +1.2% | +19.6% | 44.1% | |
 PSA | $4.8B | +2.9% | +10.6% | 46.7% | |
 CUBE | $1.1B | +5.0% | +10.6% | 40.0% | |
 NSA | $753M | -1.6% | +11.7% | 37.0% | |
 CLVT | $2.5B | -3.3% | +14.4% | 2.9% |
IRM Historical Revenue Data (1996–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $6.90B | +12.2% | $1.77B | 25.7% | $1.41B | 20.4% |
| 2024 | $6.15B | +12.2% | $3.45B | 56.2% | $1.01B | 16.4% |
| 2023 | $5.48B | +7.4% | $3.12B | 57.0% | $921.8M | 16.8% |
| 2022 | $5.10B | +13.6% | $2.91B | 57.1% | $1.05B | 20.6% |
| 2021 | $4.49B | +8.3% | $2.60B | 58.0% | $854.2M | 19.0% |
| 2020 | $4.15B | -2.7% | $2.39B | 57.6% | $934.8M | 22.5% |
| 2019 | $4.26B | +0.9% | $2.43B | 57.0% | $781.3M | 18.3% |
| 2018 | $4.23B | +9.9% | $2.42B | 57.4% | $808.3M | 19.1% |
| 2017 | $3.85B | +9.5% | $2.16B | 56.2% | $634.1M | 16.5% |
| 2016 | $3.51B | +16.7% | $1.94B | 55.4% | $501.6M | 14.3% |
| 2015 | $3.01B | -3.5% | $1.72B | 57.1% | $524.5M | 17.4% |
| 2014 | $3.12B | +3.0% | $1.77B | 56.9% | $549.3M | 17.6% |
| 2013 | $3.03B | +0.7% | $1.74B | 57.4% | $489.2M | 16.2% |
| 2012 | $3.01B | -0.3% | $1.73B | 57.5% | $555.5M | 18.5% |
| 2011 | $3.01B | +3.4% | $1.77B | 58.7% | $571.2M | 18.9% |
Full Stock Analysis
Deep dive into IRM consensus models and risk factors.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
30+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
IRM — Frequently Asked Questions
Quick answers to the most common questions about buying IRM stock.
Is IRM's revenue growth accelerating or slowing?
IRM revenue growth is accelerating. TTM revenue reached $7.2B, up +21.6% year-over-year — ahead of the 5-year CAGR of +10.7%. This indicates the business is expanding faster than its historical baseline.
What is IRM's revenue history from 1996 to 2026?
Iron Mountain Incorporated (IRM) revenue history spans 1996 to 2026. TTM revenue as of 2026 is $7.2B, growing at +21.6% YoY. The 5-year CAGR is +10.7%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is IRM's long-term revenue growth rate (CAGR)?
Iron Mountain Incorporated's 5-year revenue CAGR of +10.7% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +21.6% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for IRM.
Why does IRM's quarterly revenue fluctuate?
IRM quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Iron Mountain Incorporated's revenue data from 1996 to 2026 shows full historical quarterly detail on this page.
How is IRM's revenue distributed by segment?
IRM reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does IRM's revenue compare to industry peers?
Iron Mountain Incorporated (IRM) with TTM revenue of $7.2B and +21.6% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.