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Iron Mountain IRM · USD
Real Estate · Equity Real Estate Investment Trusts (REITs) · US listing · 🇺🇸 United States
S&P 500
110.85
+4.06%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$6.90bn
FY2016FY2025
Net income
$144.6m
FY2016FY2025
Free cash flow
−$931.6m
FY2016FY2025
Shareholders' equity
−$644.9m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.90bn | $6.15bn | $5.48bn | $5.10bn | $4.49bn | $4.15bn | $4.26bn | $4.23bn | $3.85bn | $3.51bn |
| Research and development | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Operating income | $1.04bn | $980.8m | $921.8m | $1.13bn | $854.2m | $934.8m | $781.3m | $808.3m | $634.1m | $501.6m |
| Net income | $144.6m | $180.2m | $184.2m | $557.0m | $450.2m | $342.7m | $267.4m | $363.4m | $183.8m | $104.8m |
| Diluted earnings per share | 0.48 | 0.61 | 0.62 | 1.90 | 1.54 | 1.19 | 0.93 | 1.27 | 0.64 | 0.40 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $21.13bn | $18.72bn | $17.47bn | $16.14bn | $14.45bn | $14.15bn | $13.82bn | $11.85bn | $10.97bn | $9.49bn |
| Cash and short-term investments | $158.5m | $155.7m | $222.8m | $141.8m | $255.8m | $205.1m | $193.6m | $165.5m | $925.7m | $236.5m |
| Total liabilities | $21.77bn | $18.94bn | $17.08bn | $15.41bn | $13.52bn | $13.01bn | $12.35bn | $9.99bn | $8.67bn | $7.55bn |
| Debt | $16.43bn | $13.72bn | $11.93bn | $10.57bn | $9.27bn | $8.70bn | $8.66bn | $8.14bn | $7.04bn | $6.25bn |
| Shareholders' equity | −$644.9m | −$226.5m | $389.7m | $732.0m | $929.5m | $1.14bn | $1.46bn | $1.86bn | $2.30bn | $1.94bn |
| Shares outstanding | 298m | 296m | 295m | 293m | 292m | 289m | 288m | 287m | 285m | 264m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $1.34bn | $1.20bn | $1.11bn | $927.7m | $758.9m | $987.7m | $966.7m | $935.5m | $721.0m | $543.9m |
| Capital spending | −$2.27bn | −$1.85bn | −$1.35bn | −$883.6m | −$624.4m | −$453.3m | −$748.5m | −$532.5m | −$418.3m | −$379.4m |
| Free cash flow | −$931.6m | −$657.2m | −$231.5m | $44.1m | $134.5m | $534.4m | $218.2m | $403.0m | $302.7m | $164.5m |
| Dividends paid | −$919.4m | −$789.5m | −$737.6m | −$724.4m | −$718.3m | −$716.3m | −$704.5m | −$673.6m | −$440.0m | −$505.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.03bn | $1.94bn | $1.84bn | $1.75bn | $1.71bn | $1.59bn | $1.58bn | $1.56bn |
| Operating income | $373.5m | $395.2m | $341.0m | $308.6m | $259.9m | $229.3m | $282.4m | $251.2m |
| Net income | $101.4m | $143.7m | $89.3m | $84.3m | −$44.9m | $16.0m | $103.9m | −$33.6m |
| Diluted earnings per share | 0.34 | 0.48 | 0.30 | 0.28 | -0.15 | 0.05 | 0.35 | -0.11 |
| Cash from operations | $549.0m | $338.0m | $499.0m | $267.0m | $375.0m | $197.0m | $431.0m | $252.0m |
| Capital spending | −$584.0m | −$521.0m | −$516.0m | −$513.0m | −$557.0m | −$683.0m | −$674.0m | −$398.0m |
| Free cash flow | −$35.0m | −$183.0m | −$17.0m | −$246.0m | −$182.0m | −$486.0m | −$243.0m | −$146.0m |
| Total assets | $21.96bn | $21.49bn | $21.13bn | $20.63bn | $20.18bn | $19.36bn | $18.72bn | $18.47bn |
| Cash and short-term investments | $204.8m | $250.7m | $158.5m | $195.2m | $218.0m | $155.3m | $155.7m | $168.5m |
| Debt | $17.68bn | $17.43bn | $19.05bn | $18.48bn | $17.85bn | $17.14bn | $16.37bn | $13.52bn |
| Shareholders' equity | −$1.28bn | −$1.22bn | −$981.0m | −$882.0m | −$767.4m | −$698.5m | −$503.1m | −$259.0m |
Financial ratios
Data as of 21 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | 15.1% | 15.9% | 16.8% | 22.1% | 19.0% | 22.5% | — | — |
| Net margin | 2.1% | 2.9% | 3.4% | 10.9% | 10.0% | 8.3% | — | — |
| Return on equity | -22.4% | -79.5% | 47.3% | 76.1% | 48.4% | 30.1% | — | — |
| Return on assets | 0.7% | 1.0% | 1.1% | 3.5% | 3.1% | 2.4% | — | — |
| Free cash flow yield | 10.6% | 9.0% | 7.3% | 5.4% | 4.1% | 4.4% | — | — |
| Revenue growth | 12.2% | 12.2% | 7.4% | 13.6% | 8.3% | -2.7% | — | — |
| Earnings growth | -19.7% | -2.2% | -66.9% | 23.7% | 31.4% | 28.2% | — | — |
| Current ratio | 0.74x | 0.55x | 0.78x | 0.81x | 0.71x | 0.64x | — | — |
| Debt to equity | -25.97x | -61.96x | 31.37x | 14.44x | 9.99x | 7.88x | — | — |
| Equity ratio | -3.1% | -1.2% | 2.2% | 4.5% | 6.4% | 8.0% | — | — |
| Interest coverage | 1.25x | 1.33x | 1.54x | 2.27x | 2.01x | 2.19x | — | — |
| R&D as a share of sales | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Buybacks as a share of market value | -0.7% | -0.4% | -0.7% | -0.4% | -0.9% | -0.4% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 10.6% | 10.7% | 8.7% |
| Operating income | -2.7% | 2.2% | 7.1% |
| Net income | -36.2% | -15.9% | 1.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 15.5% | 17.2% | 18.2% | 17.8% |
| Net margin | 2.5% | 4.5% | 5.8% | 5.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 171.2 | 172.8 | 112.1 | 26.2 | 33.9 | 24.9 | 34.3 | 25.6 | 58.5 | 81.8 |
| Price to sales | 3.6 | 5.1 | 3.8 | 2.9 | 3.4 | 2.1 | 2.1 | 2.2 | 2.8 | 2.4 |
Market value over time
31 Oct 2016 to 18 Sept 2026, in USD
$8.94bn$34.28bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | -24% | 50% | 37% | -1% | 75% | -9% | -1% | -13% | 16% | 19% |
Dividends and splits
Per share, in the currency the company pays
Paid for 16 years. Last went ex-dividend on 15 Sept 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.592 | 3.219 | 2.73 | 2.537 | 2.474 | 2.474 | 2.474 | 2.452 |
- 1-to-1 reverse split · 21 Jan 2015
- 1.072-for-1 split · 26 Sept 2014
- 1.089-for-1 split · 18 Oct 2012
- 3-for-2 split · 3 Jan 2007
- 3-for-2 split · 1 Jul 2004
- 3-for-2 split · 2 Jan 2002
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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