IRON MOUNTAIN INC IRM

Real estate SIC 6798 - Real Estate Investment Trusts NAICS Real Estate and Rental and Leasing › Real Estate › Lessors of Real Estate derived NYSE

Iron Mountain Incorporated, a Delaware corporation ("IMI"), was founded in an underground facility near Hudson, New York in 1951 where it stored business records. Today, we are a global leader in information management services, and we are trusted by more than 240,000 customers in 61 countries, including approximately 95% of the Fortune 1000, to help unlock value and intelligence from their assets through services that transcend the physical and digital worlds. Our broad range of solutions address their information management, digital transformation, information security, data center and asset lifecycle management ("ALM") needs. Our longstanding commitment to safety, security, sustainability and innovation in support of our customers underpins everything we do. We currently serve customers across an array of market verticals — commercial, legal, financial, healthcare, technology, insurance, life sciences, energy, business services, entertainment and government organizations.

Last close 109.96 2026-10-23
Market cap $32.74B 2026-06-30 share count
52-week range 77.77 - 134.68

Valuation FY2025 figures against the last close

P/S4.7x
P/E224.4x
P/FCF—
EV/EBITDA22.4x
Dividend yield2.8%
Diluted EPS0.49

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • Remaining Countries
  • United Kingdom
  • Canada
Revenue by geography, 4 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 4.6B (66.3%) 66% United States Remaining Countries, FY2025: 1.6B (22.5%) 23% Remaining Countries United Kingdom, FY2025: 472.6M (6.8%) 7% Canada, FY2025: 302.4M (4.4%) 4% Canada FY2024 United States, FY2024: 4B (65.2%) 65% Remaining Countries, FY2024: 1.4B (23.0%) 23% United Kingdom, FY2024: 426.5M (6.9%) 7% Canada, FY2024: 303.2M (4.9%) 5% FY2023 United States, FY2023: 3.5B (64.0%) 64% Remaining Countries, FY2023: 1.3B (23.7%) 24% United Kingdom, FY2023: 393.9M (7.2%) 7% Canada, FY2023: 279.3M (5.1%) 5%
Region FY2025FY2024FY2023
United States $4.57B $4.01B $3.51B
Remaining Countries $1.55B $1.41B $1.30B
United Kingdom $472.6M $426.5M $393.9M
Canada $302.4M $303.2M $279.3M

As the company reported it, from the “Segment Information - Geographical and Long Lived Assets (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Revenue by segment

  • Global Rim Business
  • Corporate  And Other
  • Global Data Center Business
Revenue by segment, 3 categories over 3 years. The same figures are in the table below. FY2025 Global Rim Business, FY2025: 5.3B (76.7%) 77% Global Rim Business Corporate  And Other, FY2025: 806.8M (11.7%) 12% Global Data Center Business, FY2025: 803.4M (11.6%) 12% FY2024 Global Rim Business, FY2024: 5B (81.0%) 81% Corporate  And Other, FY2024: 550.4M (9.0%) 9% Global Data Center Business, FY2024: 620M (10.1%) 10% FY2023 Global Rim Business, FY2023: 4.7B (85.1%) 85% Corporate  And Other, FY2023: 323.5M (5.9%) 6% Global Data Center Business, FY2023: 495M (9.0%) 9%
Segment FY2025FY2024FY2023
Global Rim Business $5.29B $4.98B $4.66B
Corporate  And Other $806.8M $550.4M $323.5M
Global Data Center Business $803.4M $620.0M $495.0M

As the company reported it, from the “Segment Information - Revenues by Product and Service Lines by Segment (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $6.90B$6.15B$5.48B$5.10B$4.49B$4.15B$1.58B$1.60B$3.85B$3.51B
SG&A $1.39B$1.34B$1.24B$1.14B$1.02B$949.2M$991.7M$1.01B$937.2M$988.3M
Total operating expenses $5.74B$5.14B$4.56B$4.05B$3.64B$3.21B$3.48B$3.42B$3.21B$3.01B
Operating income $1.16B$1.01B$921.8M$1.05B$854.2M$934.8M$781.3M$808.3M$634.1M$501.6M
Interest expense $829.3M$721.6M$585.9M$488.0M$418.0M$418.5M$419.3M$409.6M$353.6M$310.7M
Pre-tax income $211.2M$244.5M$227.2M$631.6M$629.0M$372.7M$328.2M$397.9M$194.7M$152.2M
Income tax $58.9M$60.9M$39.9M$69.5M$176.3M$29.6M$59.9M$42.8M$23.0M$44.9M
Net income $152.3M$183.7M$187.3M$562.1M$452.7M$343.1M$268.3M$355.1M$171.7M$107.2M
EPS, basic 0.490.610.631.921.561.190.931.240.640.43
EPS, diluted 0.490.610.631.901.551.190.931.230.640.42
Shares, diluted (wtd. avg.) 297.8M296.2M294.0M292.4M291.0M288.6M287.7M286.7M266.8M247.3M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $158.5M$155.7M$222.8M$141.8M$255.8M$205.1M$193.6M$165.5M$925.7M$236.5M
Receivables $1.44B$1.29B$1.26B$1.17B$961.4M$859.3M$850.7M$846.9M$835.7M$691.2M
Inventory ———$11.7M$0—————
Total current assets $1.93B$1.69B$1.74B$1.55B$1.44B$1.27B$1.24B$1.21B$1.95B$1.11B
Property, plant and equipment ———————$4.49B$3.42B$3.08B
Goodwill $5.29B$5.08B$5.02B$4.88B$4.46B$4.56B$4.49B$4.44B$4.07B$3.91B
Other intangibles $1.27B$1.27B$1.28B$1.42B$1.18B$1.33B$1.39B$1.51B$1.40B$1.27B
Total assets $21.13B$18.72B$17.47B$16.14B$14.45B$14.15B$13.82B$11.86B$10.98B$9.49B
Accounts payable $710.7M$678.7M$539.6M$469.2M$369.1M$359.9M$324.7M$318.8M$289.1M$222.2M
Short-term debt $216.1M$715.1M$120.7M$87.5M$309.4M$193.8M$389.0M$126.4M$146.3M$173.0M
Total current liabilities $2.62B$3.09B$2.24B$1.92B$2.02B$2.00B$1.95B$1.49B$1.33B$1.05B
Long-term debt $16.22B$13.00B$11.81B$10.48B$8.96B$8.51B$8.28B$8.02B$6.90B$6.08B
Total equity -$981.0M-$503.1M$211.8M$636.8M$857.1M$1.14B$1.46B$1.86B$2.29B$1.94B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $1.34B$1.20B$1.11B$927.7M$758.9M$987.7M$966.7M$935.5M$721.0M$543.9M
Depreciation and amortisation $1.02B$900.9M$776.2M$727.6M$680.4M$652.1M$658.2M$639.5M$522.4M$452.3M
Stock-based compensation $140.3M$118.1M$73.8M$56.9M$61.0M$37.7M$35.7M$31.2M$30.0M$29.0M
Capital expenditure $2.27B$1.79B$1.34B$875.4M$611.1M$438.3M$693.0M$460.1M$343.1M$328.6M
Investing cash flow -$2.57B-$2.14B-$1.44B-$1.66B-$473.3M-$85.4M-$730.9M-$2.22B-$599.4M-$536.0M
Financing cash flow $1.27B$876.7M$425.7M$639.2M-$220.8M-$886.7M-$199.0M$550.7M$540.4M$125.4M
Dividends paid $919.4M$789.5M$737.6M$724.4M$718.3M$716.3M$704.5M$673.6M$440.0M$505.9M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001020569-26-000013.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 2B 4B 6B 8B Revenue, FY2016: 3.5B Net income, FY2016: 107.2M Revenue, FY2017: 3.8B Net income, FY2017: 171.7M Revenue, FY2018: 1.6B Net income, FY2018: 355.1M Revenue, FY2019: 1.6B Net income, FY2019: 268.3M Revenue, FY2020: 4.1B Net income, FY2020: 343.1M Revenue, FY2021: 4.5B Net income, FY2021: 452.7M Revenue, FY2022: 5.1B Net income, FY2022: 562.1M Revenue, FY2023: 5.5B Net income, FY2023: 187.3M Revenue, FY2024: 6.1B Net income, FY2024: 183.7M Revenue, FY2025: 6.9B Net income, FY2025: 152.3M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $3.51B $3.85B $1.60B $1.58B $4.15B $4.49B $5.10B $5.48B $6.15B $6.90B
Gross profit — — — — — — — — — —
Net income $107.2M $171.7M $355.1M $268.3M $343.1M $452.7M $562.1M $187.3M $183.7M $152.3M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced Item 2.02
  • Other event Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Material agreement signed Item 1.01
  • New debt or obligation Item 2.03
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

Others in SIC 6798

TickerCompanyMarket capP/ERevenue growth
WELL WELLTOWER INC. $167.53B 170.7x 40.2%
PLD Prologis, Inc. $117.89B 35.5x 7.2%
EQIX EQUINIX INC $94.23B 69.4x 5.4%
AMT AMERICAN TOWER CORP /MA/ $88.04B 35.0x 20.8%
SPG SIMON PROPERTY GROUP INC. $68.57B 14.9x 6.7%
DLR DIGITAL REALTY TRUST, INC. $60.57B 48.1x 10.0%
PSA Public Storage $54.42B 34.4x 2.7%
O REALTY INCOME CORP $53.83B 48.6x 9.1%