Monday 12 October 2026 Export all IRM data to Excel Powerpack

Iron Mountain Incorporated

Iron Mountain Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $6.9 billion, up 12.2% from fiscal 2024. In the quarter to June 2026, revenue grew 18.5%, EPS grew 326.7%, free cash flow grew 58.6% and total debt rose 11.2%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for five, operating cash flow growth for three; insiders bought in the last twelve months.

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Market cap: $34.1B
P/E: 81.8×
Fwd P/E: 64.9×
Dividend yield: 3.02%
F-score: 5/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total buys 0.00

Total sells 116.84

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	1	—	—	—	—	—	—	—	—	—	—	—
Sell	2	2	2	2	6	2	5	2	2	3	3	2

Insider Ownership 0.93%

Capital & Financial Ratios $m

Market Cap 34,090.00

Revenue 7,562.47

Net Income 434.46

Free Cash Flow (594.88)

Net Debt 17,144.86

Current Ratio 0.73

Debt/Equity (18.17)

P/E ratio 81.79

Fwd P/E 64.90

P/S ratio 4.51

P/B ratio 0.00

Past 5Y EPS Growth (16.26%)

This Y EPS Growth 17.44%

Next Y EPS Growth 11.52%

Next Y revenue growth 16.38%

Next 5Y EPS Growth 13.41%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 67.87%

10-year low 10-year high

P/S against its own 10 years 85.38%

10-year low 10-year high

EV/Sales against its own 10 years 84.90%

10-year low 10-year high

Dividends

Payout Ratio 2.47

Annual Dividend Rate 3.46

Annual Dividend Yield 3.02%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	3.52	0.86 0.86 0.86
2025	3.22	0.79 0.79 0.79 0.86
2024	2.73	0.65 0.65 0.72 0.72
2023	2.54	0.62 0.62 0.65 0.65
2022	2.47	0.62 0.62 0.62 0.62
2021	2.47	0.62 0.62 0.62 0.62
2020	2.47	0.62 0.62 0.62 0.62
2019	2.45	0.61 0.61 0.61 0.62
2018	2.37	0.59 0.59 0.59 0.61
2017	2.24	0.55 0.55 0.55 0.59
2016	2.01	0.49 0.49 0.49 0.55

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	223	156	159	205
Receivables	1,260	1,291	1,444	1,487
Inventory	—	—	—	—
Other	—	—	—	—
	1,736	1,691	1,935	2,104

	2023	2024	2025	Q'26
Payables	540	679	711	857
ST’ Debt	121	715	216	221
Other	—	—	—	—
	2,236	3,087	2,619	2,898

Compound Annual Growth %

	10y	5y	3y
Sales	8.66%	10.72%	10.58%
Cash Flow	9.48%	6.29%	13.04%
Earnings	1.61%	(15.85%)	(36.21%)
Book Value	0.00%	0.00%	0.00%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	1,936	2,029	—	—	—
’25	1,593	1,712	1,754	1,843	6,902
’24	1,477	1,534	1,557	1,581	6,150
’23	1,314	1,358	1,388	1,420	5,480
’22	1,248	1,290	1,287	1,279	5,104
’21	1,082	1,120	1,130	1,160	4,492
’20	1,069	982	1,037	1,060	4,147

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	339	549	—	—	—
’25	197	375	268	500	1,340
’24	130	382	253	432	1,197
’23	129	317	220	447	1,114
’22	55	291	214	367	928
’21	69	320	74	296	759
’20	125	314	188	360	988

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(175)	(75)	—	—	—
’25	(477)	(182)	(265)	(70)	(993)
’24	(246)	(18)	(145)	(231)	(639)
’23	(101)	(18)	(138)	79	(178)
’22	(101)	213	(31)	133	215
’21	(65)	365	(45)	166	420
’20	28	218	186	678	1,110

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.48	0.34	—	—	—
’25	0.05	(0.15)	0.28	0.30	0.49
’24	0.25	0.12	(0.11)	0.35	0.61
’23	0.22	0.00	0.31	0.10	0.63
’22	0.14	0.68	0.66	0.42	1.90
’21	0.16	0.95	0.23	0.21	1.55
’20	0.22	(0.02)	0.13	0.86	1.19

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	23.64	32.27	30.22	29.28	21.00	27.72	41.67	48.92	64.68	72.33	Analyst estimates 2026–2028 Powerpack
	High	41.50	41.53	37.94	37.32	34.49	53.14	58.61	70.66	130.24	112.18
People
People	Employees	24,000	24,000	26,200	26,750	25,600	26,750	27,600	27,000	28,850	29,400
	Revenue/emp, $m	0.15	0.16	0.16	0.16	0.16	0.17	0.18	0.20	0.21	0.23
Income, $m
Income, $m	Revenue	3,511	3,846	4,226	4,263	4,147	4,492	5,104	5,480	6,150	6,902
	Gross margin, %	55.35	56.71	57.55	56.99	57.63	57.98	57.11	56.98	56.15	55.38
	EBT	147	201	410	328	373	629	632	227	245	211
	EBT margin, %	4.18	5.23	9.71	7.70	8.99	14.00	12.38	4.15	3.98	3.06
	Net income	107	172	355	268	343	453	562	187	184	152
	Depreciation	465	540	655	675	692	697	746	793	926	1,057
Per share, $
Per share, $	Revenue	14.26	14.46	14.78	14.85	14.39	15.52	17.55	18.77	20.96	23.36
	Earnings	0.43	0.69	1.27	0.93	1.19	1.56	1.92	0.63	0.61	0.49
	Cash flow	2.21	2.71	3.27	3.37	3.43	2.62	3.19	3.81	4.08	4.54
	Capex	(1.43)	(1.46)	(1.53)	(2.00)	0.42	(1.17)	(2.45)	(4.42)	(6.26)	(7.90)
	Free cash flow	0.78	1.25	1.74	1.37	3.85	1.45	0.74	(0.61)	(2.18)	(3.36)
	Book value	7.87	8.65	6.51	5.10	3.94	2.96	2.19	0.73	(1.04)	(2.40)
	Shares, m	246	266	286	287	288	289	291	292	293	295
Valuation, ×
Valuation, ×	P/E	71.96	54.51	25.52	34.64	24.77	33.76	25.87	108.94	172.31	172.81
	P/S	2.32	2.60	2.19	2.15	2.05	3.37	2.83	3.66	5.01	3.55
	P/B	4.21	4.35	4.98	6.25	7.47	17.67	22.68	94.61	0.00	0.00
	EV/Sales	4.03	4.19	4.08	4.13	4.10	5.38	4.87	5.79	7.22	5.91
	EV/FCF	73.88	48.54	34.62	44.75	15.31	57.50	116.53	(170.64)	(69.45)	(38.83)
Cash, $m
Cash, $m	Operating cash flow	544	721	936	967	988	759	928	1,114	1,197	1,340
	Capex	(352)	(389)	(437)	(573)	122	(339)	(713)	(1,292)	(1,836)	(2,333)
	Free cash flow	192	332	498	394	1,110	420	215	(178)	(639)	(993)
Balance, $m
Balance, $m	Working capital	66	620	(283)	(713)	(726)	(577)	(370)	(501)	(1,396)	(685)
	Total debt	6,251	7,043	8,143	8,665	8,703	9,272	10,569	11,933	13,719	16,432
	Net debt	6,015	6,118	7,977	8,471	8,498	9,016	10,427	11,710	13,563	16,273
	Shareholders’ equity	1,937	2,299	1,862	1,464	1,137	857	637	212	(305)	(709)
Returns, %
Returns, %	ROA	1.32	1.66	3.10	2.08	2.45	3.15	3.64	1.10	1.00	0.73
	ROIC	3.94	4.71	5.13	4.92	6.06	5.41	5.93	4.83	4.76	4.67
	ROE	8.50	8.03	17.01	16.07	26.35	45.16	74.57	43.42	(387.84)	(28.52)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
EQIX Equinix, Inc.	$99.8B	65.8×	62.5×	+16.36% (above 0%: growing)	+29.26% (above 0%: growing)	−311.02% (below 0%: shrinking)	53.14%	25.33%	Compare
AMT American Tower Corporation	$77.7B	25.0×	29.7×	+4.65% (above 0%: growing)	+138.46% (above 0%: growing)	+19.35% (above 0%: growing)	73.03%	46.15%	Compare
DLR Digital Realty Trust, Inc.	$65.3B	82.2×	89.2×	+28.86% (above 0%: growing)	−58.75% (below 0%: shrinking)	−25.86% (below 0%: shrinking)	61.14%	24.28%	Compare
IRM Iron Mountain Incorporated	$33.6B	81.8×	64.9×	+18.52% (above 0%: growing)	n/m	+58.56% (above 0%: growing)	52.76%	18.41%
CCI Crown Castle Inc.	$29.3B	40.2×	46.8×	−4.91% (below 0%: shrinking)	−67.16% (below 0%: shrinking)	−40.40% (below 0%: shrinking)	73.41%	46.63%	Compare
SBAC SBA Communications Corporation	$18.0B	19.6×	27.6×	+2.33% (above 0%: growing)	−10.95% (below 0%: shrinking)	+11.32% (above 0%: growing)	75.39%	49.19%	Compare
LAMR Lamar Advertising Company	$14.8B	26.7×	25.6×	+6.46% (above 0%: growing)	+3.95% (above 0%: growing)	+8.91% (above 0%: growing)	68.51%	33.72%	Compare
WY Weyerhaeuser Company	$13.8B	28.9×	56.6×	−0.90% (below 0%: shrinking)	+91.67% (above 0%: growing)	+29.41% (above 0%: growing)	16.66%	11.94%	Compare
GLPI Gaming and Leisure Properties, Inc.	$11.1B	11.2×	14.4×	+9.03% (above 0%: growing)	+45.45% (above 0%: growing)	−42.77% (below 0%: shrinking)	100.00%	77.21%	Compare
Median of peers	$23.7B	27.8×	38.3×	+5.56%	+16.61%	−8.47%	70.77%	39.94%

All 18 Reit Specialty stocks →

Iron Mountain Incorporated (IRM) key facts

Concern: Net income was $152.3 million, or $0.49 per share (basic), a net margin of 2.09%.
Strength: Iron Mountain Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $6.9 billion, up 12.2% from fiscal 2024.
Iron Mountain Incorporated (IRM) is a Reit Specialty company in the Real Estate sector, listed on the New York Stock Exchange.
As of October 12, 2026, IRM traded at $114.79, a market capitalization of $34.1 billion.
At that price the stock trades at 81.8× trailing-twelve-month earnings and 4.5× sales; its P/E is higher than 68% of its own readings over the past ten years.
Iron Mountain Incorporated pays an annual dividend of $3.46 per share, a yield of 3.02%.
Return on equity was −28.5% and debt-to-equity -18.17.
Its Piotroski F-score is 5 out of 9 for fiscal 2025.