FirmAtlas
Company handbook · IRM · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
IRM · CIK 1020569 · LATEST FILING: 10-Q JUN '26 · FILED AUG 5, 2026
IRON MOUNTAIN INC
$112.51
−0.17 (−0.15%)
Close, Oct 16, 2026 · 52-week $78–135
Last fiscal year
IRON MOUNTAIN INC reported revenue of $6.9B for the year ended Dec 31, 2025 (FY25), up 12.2% from FY24. Net income was $145M, operating cash flow $1.3B and free cash flow −$932M. Source: 10-K filed Feb 12, 2026.
Market cap
$33.3B
P/E
79.5
EV/EBITDA
22.5x
P/B
n/m
Div yield
3.07%
ROIC
6.1%
Revenue 1Y
12.2%/yr
EPS 1Y
−19.7%/yr
Shares 1Y
+0.7%
Loading chart…
Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOWilliam L. Meaney
HQPortsmouth, NH
AuditorDeloitte & Touche LLP
Employees29,400
Year endsDecember
Revenue by segment · FY25
Global Recordsand Information Management Business77%
Corporate And Other12%
Global Data Center Business12%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
12.6%
20.2%
22.2%
6.4%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$6.1B deployed
Capex
$4.1B
67.1%
Acquisitions
$280M
4.6%
Dividends
$1.7B
28.2%
Operating cash flow over the period: $2.5B. Total debt changed by +$3.2B.
Capex was more than operating cash flow in FY25.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
6,150
6,902+12.2%
7,562
YoY
+12.2%
Operating income
1,010
1,164+15.3%
1,418
Operating margin
16.4%
16.9%+0.4 pp
—
EBITDA
1,910
2,188+14.5%
—
EBITDA margin
31.1%
31.7%+0.6 pp
—
Interest expense
722
829+14.9%
—
Interest coverage
2.65x
2.64x−0.01x
—
Net income
180
145−19.7%
419
YoY
−19.7%
Net margin
2.9%
2.1%−0.8 pp
—
EPS (diluted, $)
0.61
0.49−19.7%
1.40
YoY
−19.7%
Balance sheet
Total assets
18,717
21,125+12.9%
21,955
Cash & short-term investments
156
159+1.8%
—
Accounts receivable
1,291
1,444+11.8%
—
Net PP&E
7,632
9,546+25.1%
—
Other assets
9,638
9,976+3.5%
—
Total liabilities
19,220
22,106+15.0%
23,236
Accounts payable
679
711+4.7%
—
Total debt
13,004
16,216+24.7%
17,129
Other liabilities
5,538
5,179−6.5%
—
Shareholders’ equity
(503)
(981)n/m
(1,281)
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
1,197
1,340+12.0%
1,655
Net income
184
152−17.1%
—
Depreciation & amortization
901
1,024+13.7%
—
Stock-based compensation
118
140+18.7%
—
Working capital & other
(6)
23n/m
—
Cash from investing
(2,137)
(2,574)n/m
—
Capex
(1,792)
(2,272)n/m
—
PP&E sold
18
14−24.2%
—
Acquisitions
(178)
(102)n/m
—
Other investing
(185)
(215)n/m
—
Cash from financing
877
1,268+44.6%
—
Debt raised
1,188
1,391+17.1%
—
Debt repaid
(14,473)
(16,003)n/m
—
Dividends
(790)
(919)n/m
—
Other financing
14,951
16,800+12.4%
—
Net change in cash
(67)
3n/m
—
Free cash flow (OCF − capex)
(595)
(932)n/m
(491)
Where the cash went
Operating cash flow
1,197
1,340+12.0%
1,655
Reinvested in the business
1,970
2,373+20.5%
—
% of operating cash flow
164.6%
177.1%
Capex
1,792
2,272+26.8%
2,146
Acquisitions
178
102−43.0%
—
Free cash flow
(595)
(932)n/m
(491)
YoY
n/m
Returned to shareholders
790
919+16.4%
—
% of free cash flow
—
—
Dividends
790
919+16.4%
—
Change in total debt
—
3,212
—
Cash left over
—
1,259
—
FCF conversion (FCF ÷ net income)
−330.2%
−644.3%−314.1 pp
—
Owner earnings
—
(1,223)
—
Owner earnings margin
—
−17.7%
—
Returns & ratios
ROIC (all capital)
6.1%
6.1%−0.0 pp
—
ROIC (operating)
9.2%
9.1%−0.1 pp
—
Net debt / EBITDA
6.73x
7.34x+0.61x
—
ROE
−35.8%
−14.7%+21.1 pp
—
ROA
1.0%
0.7%−0.3 pp
—
ROCE
6.5%
6.3%−0.2 pp
—
NOPAT
758
839+10.7%
—
Invested capital (operating)
8,244
10,279+24.7%
—
Invested capital (all)
12,345
15,076+22.1%
—
Reinvestment rate
—
242.5%
—
Net debt is 7.3x EBITDA (FY25).
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
1,754
1,843
1,936
2,029
vs year-ago quarter
Operating income
309
341
395
374
Net income
84
89
144
101
vs year-ago quarter
Net margin
4.8%
4.8%
7.4%
5.0%
EPS (diluted, $)
0.28
0.30
0.48
0.34
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
20,633
21,125
21,487
21,955
Cash & equivalents
195
159
251
205
Total debt
15,494
16,216
16,886
17,129
Shareholders’ equity
(882)
(981)
(1,215)
(1,281)
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
268
500
339
549
Capex
524
516
518
588
Free cash flow
(256)
(16)
(179)
(39)
vs year-ago quarter