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Financials · IRM

Iron Mountain Incorporated (Delaware) (IRM) financials

For the twelve months ended Sep 30, 2026, Iron Mountain Incorporated (Delaware) reported $7.80B of revenue and $458.50M of net income.

Revenue, TTM
$7.80B
Revenue growth, YoY
+17.5%
Net income, TTM
$458.50M
Net income growth, YoY
+187.9%
Net margin
5.9%
Free cash flow, TTM
-$536.82M
EPS, diluted, TTM
$1.54
EPS growth, YoY
+190.6%
Cash
$188.16M
Total debt
$17.97B
P/E
72.01
P/S
4.23
Market cap
$33.01B
Annual revenue$6.90B
FY2016FY2025
Annual net income$144.59M
FY2016FY2025
Annual free cash flow-$931.63M
FY2016FY2025

IRM revenue and earnings growth

IRM revenueQ3 2026$1.99B

Quarter YoY
+13.5%
QoQ
-1.9%
FY YoY
+12.2%
5Y CAGR
+10.7%

IRM revenue was $1.99B in fiscal Q3 2026 (ended Sep 30, 2026), up 13.5% from a year earlier and down 1.9% from the prior quarter. For the full fiscal 2025 it was $6.90B, up 12.2% from fiscal 2024. Compound annual growth was +10.7% over 5 years. It rose in 8 of the last 9 fiscal years. Fiscal 2025 is the highest of the 10 fiscal years on file.

IRM net incomeQ3 2026$124.14M

Quarter YoY
+47.3%
QoQ
+22.4%
FY YoY
-19.7%
5Y CAGR
-15.9%
10Y CAGR
+1.6%

IRM net income was $124.14M in fiscal Q3 2026 (ended Sep 30, 2026), up 47.3% from a year earlier and up 22.4% from the prior quarter. For the full fiscal 2025 it was $144.59M, down 19.7% from fiscal 2024. Compound annual growth was -15.9% over 5 years and +1.6% over 10 years. It rose in 5 of the last 10 fiscal years.

IRM EPSQ3 2026$0.41

Quarter YoY
+46.4%
QoQ
+20.6%
FY YoY
-19.7%
5Y CAGR
-16.3%
10Y CAGR
-1.7%

IRM diluted EPS was $0.41 in fiscal Q3 2026 (ended Sep 30, 2026), up 46.4% from a year earlier and up 20.6% from the prior quarter. For the full fiscal 2025 it was $0.49, down 19.7% from fiscal 2024. Compound annual growth was -16.3% over 5 years and -1.7% over 10 years.

IRM free cash flowQ3 2026-$302.18M

IRM free cash flow was -$302.18M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$256.28M a year earlier. For the full fiscal 2025 it was -$931.63M, compared with -$594.86M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$6.90B$6.15B$5.48B$5.10B$4.49B$4.15B$4.26B$4.23B$3.85B$3.51B
Selling, general and admin$1.39B$1.34B$1.24B$1.14B$1.02B$949.22M$991.66M$1.01B$937.18M$988.33M
Operating income$1.16B$1.01B$921.78M$1.05B$854.17M$934.78M$781.34M$808.27M$634.05M$501.61M
Interest expense$829.34M$721.56M$585.93M$488.01M------
Pre-tax income$211.19M$244.54M$227.21M$631.64M$629.01M$372.70M----
Income tax$58.93M$60.87M$39.94M$69.49M$176.29M$29.61M$59.93M$42.75M$22.96M$44.94M
Net income$144.59M$180.16M$184.23M$556.98M$450.22M$342.69M$267.38M$353.93M$170.11M$104.82M
EPS, basic$0.49$0.61$0.63$1.92$1.56$1.19$0.93$1.24$0.64$0.43
EPS, diluted$0.49$0.61$0.63$1.90$1.55$1.19$0.93$1.23$0.64$0.42
Diluted shares297.8M296.2M294.0M292.4M291.0M288.6M287.7M286.7M266.8M247.3M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$158.53M$155.72M$222.79M$141.80M$255.83M$205.06M$193.56M$165.49M$925.70M$236.48M
Receivables$1.44B$1.29B$1.26B$1.17B$961.42M$859.34M$850.70M$846.89M$835.74M$691.25M
Inventory---$11.73M$0-----
Current assets$1.93B$1.69B$1.74B$1.55B$1.44B$1.27B$1.24B$1.21B$1.95B$1.11B
Goodwill$5.29B$5.08B$5.02B$4.88B$4.46B$4.56B$4.49B$4.44B$4.07B$3.91B
Total assets$21.13B$18.72B$17.47B$16.14B$14.45B$14.15B$13.82B$11.86B$10.98B$9.49B
Current liabilities$2.62B$3.09B$2.24B$1.92B$2.02B$2.00B$1.95B$1.49B$1.33B$1.05B
Short-term debt$216.07M$715.11M$120.67M$87.55M$309.43M$193.76M$389.01M$126.41M$146.30M$172.97M
Long-term debt$16.22B$13.00B$11.81B$10.48B$8.96B$8.51B$8.28B$8.02B$6.90B$6.08B
Total debt$16.43B$13.72B$11.93B$10.57B$9.27B$8.70B$8.66B$8.14B$7.04B$6.25B
Total liabilities$21.83B$19.02B$17.26B$15.50B$13.59B$13.01B$12.35B$9.99B$8.69B$7.55B
Shareholders' equity-$981.01M-$304.67M$211.77M$636.79M$857.07M$1.14B$1.46B$1.86B$2.29B$1.94B

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$1.34B$1.20B$1.11B$927.70M$758.90M$987.66M$966.65M$935.55M$720.97M$543.89M
Capital expenditures$2.27B$1.79B$1.34B$875.38M$611.08M$438.26M$692.98M$460.06M$343.13M$328.60M
Free cash flow-$931.63M-$594.86M-$225.66M$52.32M$147.82M$549.39M$273.67M$475.49M$377.84M$215.29M
Investing cash flow-$2.57B-$2.14B-$1.44B-$1.66B-$473.31M-$85.44M-$730.88M-$2.22B-$599.45M-$535.99M
Financing cash flow$1.27B$876.75M$425.67M$639.21M-$220.81M-$886.70M-$198.97M$550.68M$540.42M$125.37M
Dividends paid$919.39M$789.53M$737.65M$724.39M$718.34M$716.29M$704.53M$673.63M$440.00M$505.87M
Stock-based compensation$140.28M$118.14M$73.80M$56.86M$61.00M$37.67M$35.65M$31.17M$30.02M$28.98M
Depreciation and amortization$1.02B$900.90M$776.16M$727.60M$680.42M$652.07M$658.20M$639.51M$522.38M$452.33M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY12.2%12.2%7.4%13.6%8.3%-2.7%0.9%9.9%9.5%-
Net income growth, YoY-19.7%-2.2%-66.9%23.7%31.4%28.2%-24.5%108.1%62.3%-14.9%
EPS growth, YoY-19.7%-3.2%-66.8%22.6%30.3%28.0%-24.4%92.2%52.4%-27.6%
Operating margin16.9%16.4%16.8%20.6%19.0%22.5%18.3%19.1%16.5%14.3%
Net margin2.1%2.9%3.4%10.9%10.0%8.3%6.3%8.4%4.4%3.0%
Free cash flow margin-13.5%-9.7%-4.1%1.0%3.3%13.2%6.4%11.3%9.8%6.1%
Return on equity--87.0%87.5%52.5%30.1%18.3%19.0%7.4%5.4%
Return on assets0.7%1.0%1.1%3.5%3.1%2.4%1.9%3.0%1.5%1.1%
Current ratio0.740.550.780.810.710.640.630.811.471.06
Debt to equity--56.3516.6010.827.665.924.373.083.23

Source: XBRL data Iron Mountain Incorporated (Delaware) files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

IRM peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
IRM$7.80B+17.5%$458.50M5.9%$33.01B
WELL$13.79B+39.2%$1.67B12.1%$181.46B
PLD$8.95B+6.7%$3.71B41.5%$124.09B
EQIX$10.06B+11.1%$1.65B16.4%$104.38B
AMT$11.01B+5.3%$3.31B30.1%$87.65B
SPG$7.15B+16.2%$4.51B63.0%$75.39B
DLR$6.34B+12.6%$1.38B21.7%$68.13B
PSA$5.03B+5.2%$1.90B37.8%$63.18B
O$6.21B+10.8%$1.36B21.8%$56.58B

IRM FAQ

8 questions
  • What is IRM revenue?
    Iron Mountain Incorporated (Delaware) (IRM) reported $7.80B of revenue for the twelve months ended Sep 30, 2026. That is up 17.5% from the year before. Revenue for fiscal 2025 was $6.90B.
  • Is IRM profitable?
    Yes. Iron Mountain Incorporated (Delaware) earned $458.50M in net income for the twelve months ended Sep 30, 2026, a net margin of 5.9%.
  • How much cash and debt does IRM have?
    Iron Mountain Incorporated (Delaware) reported $188.16M in cash and cash equivalents and $17.97B of debt on its most recent balance sheet in SEC filings.
  • How fast is IRM revenue growing?
    Iron Mountain Incorporated (Delaware)'s revenue changed +12.2% in fiscal 2025, to $6.90B. Its compound annual growth rate was +10.7% over 5 years.
  • What is IRM free cash flow?
    Iron Mountain Incorporated (Delaware) generated -$536.82M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $1.70B less capital expenditures.
  • What is IRM earnings per share?
    Diluted earnings per share were $1.54 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did IRM last report financial results?
    The latest statements here come from Iron Mountain Incorporated (Delaware)'s 10-Q filed on Nov 5, 2026, covering the period ended Sep 30, 2026.
  • Where does this IRM financial data come from?
    Quantisnow builds these statements from the structured XBRL data Iron Mountain Incorporated (Delaware) files with the SEC. It is provided for information only and is not investment advice.