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Stocks · Real estate · Real Estate Investment Trusts

Iron Mountain

IRM Clue Score35
United States Fiscal year ends December CIK 0001020569
$114.51 +1.36% Close, 9 Oct 2026
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Price $114.51 +168.11% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue3.51Operating income0.50Net income0.11EPS, diluted0.42Fiscal year 2017Revenue3.85 +9.5%Operating income0.63Net income0.17 +60.1%EPS, diluted0.64 +52.4%Fiscal year 2018Revenue1.60 −58.3%Operating income0.81Net income0.36 +106.8%EPS, diluted1.23 +92.2%Fiscal year 2019Revenue1.58 −1.4%Operating income0.78Net income0.27 −24.4%EPS, diluted0.93 −24.4%Fiscal year 2020Revenue4.15 +162.2%Operating income0.93Net income0.34 +27.9%EPS, diluted1.19 +28.0%Fiscal year 2021Revenue4.49 +8.3%Operating income0.85Net income0.45 +32.0%EPS, diluted1.55 +30.3%Fiscal year 2022Revenue5.10 +13.6%Operating income1.05Net income0.56 +24.2%EPS, diluted1.90 +22.6%Fiscal year 2023Revenue5.48 +7.4%Operating income0.92Net income0.19 −66.7%EPS, diluted0.63 −66.8%Fiscal year 2024Revenue6.15 +12.2%Operating income1.01Net income0.18 −1.9%EPS, diluted0.61 −3.2%Fiscal year 2025Revenue6.90 +12.2%Operating income1.16Net income0.15 −17.1%EPS, diluted0.49 −19.7%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 3.51 3.85 1.60 1.58 4.15 4.49 5.10 5.48 6.15 6.90
Growth +9.5% −58.3% −1.4% +162.2% +8.3% +13.6% +7.4% +12.2% +12.2%
Operating income 0.50 0.63 0.81 0.78 0.93 0.85 1.05 0.92 1.01 1.16
Net income 0.11 0.17 0.36 0.27 0.34 0.45 0.56 0.19 0.18 0.15
Growth +60.1% +106.8% −24.4% +27.9% +32.0% +24.2% −66.7% −1.9% −17.1%
EPS, diluted 0.42 0.64 1.23 0.93 1.19 1.55 1.90 0.63 0.61 0.49
Growth +52.4% +92.2% −24.4% +28.0% +30.3% +22.6% −66.8% −3.2% −19.7%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin14.3%Net margin3.1%Free cash flow margin6.1%Fiscal year 2017Operating margin16.5%Net margin4.5%Free cash flow margin9.8%Fiscal year 2018Operating margin50.4%Net margin22.1%Free cash flow margin29.7%Fiscal year 2019Operating margin49.4%Net margin17.0%Free cash flow margin17.3%Fiscal year 2020Operating margin22.5%Net margin8.3%Free cash flow margin13.2%Fiscal year 2021Operating margin19.0%Net margin10.1%Free cash flow margin3.3%Fiscal year 2022Operating margin20.6%Net margin11.0%Free cash flow margin1.0%Fiscal year 2023Operating margin16.8%Net margin3.4%Free cash flow margin−4.1%Fiscal year 2024Operating margin16.4%Net margin3.0%Free cash flow margin−9.7%Fiscal year 2025Operating margin16.9%Net margin2.2%Free cash flow margin−13.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 14.3% 16.5% 50.4% 49.4% 22.5% 19.0% 20.6% 16.8% 16.4% 16.9%
Net margin 3.1% 4.5% 22.1% 17.0% 8.3% 10.1% 11.0% 3.4% 3.0% 2.2%
Free cash flow margin 6.1% 9.8% 29.7% 17.3% 13.2% 3.3% 1.0% −4.1% −9.7% −13.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow0.54Capital expenditure−0.33Free cash flow0.22Dividends paid−0.51Fiscal year 2017Operating cash flow0.72Capital expenditure−0.34Free cash flow0.38 +75.5%Dividends paid−0.44Fiscal year 2018Operating cash flow0.94Capital expenditure−0.46Free cash flow0.48 +25.8%Dividends paid−0.67Fiscal year 2019Operating cash flow0.97Capital expenditure−0.69Free cash flow0.27 −42.4%Dividends paid−0.70Fiscal year 2020Operating cash flow0.99Capital expenditure−0.44Free cash flow0.55 +100.7%Dividends paid−0.72Fiscal year 2021Operating cash flow0.76Capital expenditure−0.61Free cash flow0.15 −73.1%Dividends paid−0.72Fiscal year 2022Operating cash flow0.93Capital expenditure−0.88Free cash flow0.05 −64.6%Dividends paid−0.72Fiscal year 2023Operating cash flow1.11Capital expenditure−1.34Free cash flow−0.23 −531.3%Dividends paid−0.74Fiscal year 2024Operating cash flow1.20Capital expenditure−1.79Free cash flow−0.59Dividends paid−0.79Fiscal year 2025Operating cash flow1.34Capital expenditure−2.27Free cash flow−0.93Dividends paid−0.92
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 0.54 0.72 0.94 0.97 0.99 0.76 0.93 1.11 1.20 1.34
Capital expenditure −0.33 −0.34 −0.46 −0.69 −0.44 −0.61 −0.88 −1.34 −1.79 −2.27
Free cash flow 0.22 0.38 0.48 0.27 0.55 0.15 0.05 −0.23 −0.59 −0.93
Growth +75.5% +25.8% −42.4% +100.7% −73.1% −64.6% −531.3%
Dividends paid −0.51 −0.44 −0.67 −0.70 −0.72 −0.72 −0.72 −0.74 −0.79 −0.92

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.24Total debt6.25Net cash (debt)−6.01Shareholders’ equity1.94Debt to equity3.23Fiscal year 2017Cash0.93Total debt7.04Net cash (debt)−6.12Shareholders’ equity2.30Debt to equity3.07Fiscal year 2018Cash0.17Total debt8.14Net cash (debt)−7.98Shareholders’ equity1.86Debt to equity4.38Fiscal year 2019Cash0.19Total debt8.66Net cash (debt)−8.47Shareholders’ equity1.46Debt to equity5.92Fiscal year 2020Cash0.21Total debt8.70Net cash (debt)−8.50Shareholders’ equity1.14Debt to equity7.66Fiscal year 2021Cash0.26Total debt9.27Net cash (debt)−9.02Shareholders’ equity0.86Debt to equity10.83Fiscal year 2022Cash0.14Total debt10.57Net cash (debt)−10.43Shareholders’ equity0.64Debt to equity16.60Fiscal year 2023Cash0.22Total debt11.93Net cash (debt)−11.71Shareholders’ equity0.21Debt to equity56.38Fiscal year 2024Cash0.16Total debt13.72Net cash (debt)−13.56Shareholders’ equity−0.50Fiscal year 2025Cash0.16Total debt16.43Net cash (debt)−16.27Shareholders’ equity−0.98
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.24 0.93 0.17 0.19 0.21 0.26 0.14 0.22 0.16 0.16
Total debt 6.25 7.04 8.14 8.66 8.70 9.27 10.57 11.93 13.72 16.43
Net cash (debt) −6.01 −6.12 −7.98 −8.47 −8.50 −9.02 −10.43 −11.71 −13.56 −16.27
Shareholders’ equity 1.94 2.30 1.86 1.46 1.14 0.86 0.64 0.21 −0.50 −0.98
Debt to equity 3.23 3.07 4.38 5.92 7.66 10.83 16.60 56.38 n/a n/a

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
3.51 3.85 1.60 1.58 4.15 4.49 5.10 5.48 6.15 6.90
Growth +9.5% −58.3% −1.4% +162.2% +8.3% +13.6% +7.4% +12.2% +12.2%
0.99 0.94 1.01 0.99 0.95 1.02 1.14 1.24 1.34 1.39
0.50 0.63 0.81 0.78 0.93 0.85 1.05 0.92 1.01 1.16
Growth +26.4% +27.5% −3.3% +19.6% −8.6% +22.9% −12.2% +9.5% +15.3%
n/a n/a n/a n/a 0.37 0.63 0.63 0.23 0.24 0.21
0.04 0.02 0.04 0.06 0.03 0.18 0.07 0.04 0.06 0.06
0.11 0.17 0.36 0.27 0.34 0.45 0.56 0.19 0.18 0.15
Growth +60.1% +106.8% −24.4% +27.9% +32.0% +24.2% −66.7% −1.9% −17.1%
Per share
0.43 0.64 1.24 0.93 1.19 1.56 1.92 0.63 0.61 0.49
0.42 0.64 1.23 0.93 1.19 1.55 1.90 0.63 0.61 0.49
Growth +52.4% +92.2% −24.4% +28.0% +30.3% +22.6% −66.8% −3.2% −19.7%
246.2 265.9 285.9 287.0 288.2 289.5 290.8 291.9 293.4 295.4
247.3 266.8 286.7 287.7 288.6 291.0 292.4 294.0 296.2 297.8
Growth +7.9% +7.4% +0.4% +0.3% +0.8% +0.5% +0.5% +0.8% +0.5%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 10.7% a year over five years, and earnings per share fell 16.3% a year.
  • The diluted share count rose 3.2% in five years, which is dilution.
  • Operating margin is down 5.7 points on five years ago, at 16.9%.
  • Profitable in every one of the 10 years on file.