Iron Mountain (IRM) Financials

$97.22 -3.32 (-3.30%)

As of 01:34 PM Eastern

Annual Income Statements for Iron Mountain

This table shows Iron Mountain's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	180	184	557	450	343	267	354	170	105	123
Consolidated Net Income / (Loss)	184	187	562	453	343	268	355	172	107	125
Net Income / (Loss) Continuing Operations	184	187	562	453	343	268	368	178	104	125
Total Pre-Tax Income	245	227	632	629	373	328	410	201	147	162
Total Operating Income	1,010	922	1,050	854	935	781	808	634	502	525
Total Gross Profit	3,453	3,122	2,914	2,604	2,390	2,429	2,432	2,181	1,944	1,718
Total Revenue	6,150	5,480	5,104	4,492	4,147	4,263	4,226	3,846	3,511	3,008
Operating Revenue	6,150	5,480	5,104	4,492	4,147	4,263	4,226	3,846	3,511	3,008
Total Cost of Revenue	2,697	2,358	2,189	1,887	1,757	1,833	1,794	1,665	1,568	1,290
Operating Cost of Revenue	2,697	2,358	2,189	1,887	1,757	1,833	1,794	1,665	1,568	1,290
Total Operating Expenses	2,444	2,201	1,865	1,750	1,455	1,648	1,624	1,547	1,442	1,193
Selling, General & Admin Expense	1,340	1,236	1,141	1,023	949	992	1,007	937	988	845
Depreciation Expense	901	776	728	680	652	658	640	522	452	345
Other Operating Expenses / (Income)	36	26	48	13	0.00	13	51	85	-	-
Impairment Charge	6.20	-13	-93	-172	-341	-64	-74	2.25	1.41	3.00
Restructuring Charge	161	175	42	206	194	49	0.00	0.00	-	-
Total Other Income / (Expense), net	-765	-695	-418	-225	-562	-453	-398	-433	-355	-362
Interest & Investment Income	-722	-586	-488	-	-	-	-	-	-	-
Other Income / (Expense), net	-43	-109	70	193	-144	-34	12	-79	-44	-99
Income Tax Expense	61	40	69	176	30	60	43	23	45	38
Net Income / (Loss) Attributable to Noncontrolling Interest	3.51	3.03	5.17	2.51	0.40	0.94	1.20	1.61	2.41	1.96
Basic Earnings per Share	$0.61	$0.63	$1.92	$1.56	$1.19	$0.93	$1.24	$0.64	$0.43	$0.58
Weighted Average Basic Shares Outstanding	293.37M	291.94M	290.81M	289.46M	288.18M	286.97M	285.91M	265.90M	246.18M	210.76M
Diluted Earnings per Share	$0.61	$0.63	$1.90	$1.55	$1.19	$0.93	$1.23	$0.64	$0.42	$0.58
Weighted Average Diluted Shares Outstanding	296.23M	293.97M	292.44M	290.98M	288.64M	287.69M	286.65M	266.84M	247.27M	212.12M
Weighted Average Basic & Diluted Shares Outstanding	293.74M	292.28M	290.90M	289.83M	288.42M	287.50M	285.40M	266.40M	243.80M	212.50M
Cash Dividends to Common per Share	$2.73	$2.54	$2.47	$2.47	$2.47	$2.45	$2.38	$2.27	$2.04	$1.91

This table shows Iron Mountain's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	16	104	-34	36	74	28	91	0.11	65	122	192
Consolidated Net Income / (Loss)	16	106	-34	35	77	29	91	1.14	66	126	193
Net Income / (Loss) Continuing Operations	16	106	-34	35	77	29	91	1.14	66	126	193
Total Pre-Tax Income	31	124	-21	48	94	38	101	5.40	82	143	217
Total Operating Income	254	282	251	230	246	231	238	213	241	248	286
Total Gross Profit	882	892	879	858	824	819	796	765	743	739	741
Total Revenue	1,593	1,581	1,557	1,534	1,477	1,420	1,388	1,358	1,314	1,279	1,287
Operating Revenue	1,593	1,581	1,557	1,534	1,477	1,420	1,388	1,358	1,314	1,279	1,287
Total Cost of Revenue	710	689	678	676	653	601	592	593	572	540	546
Operating Cost of Revenue	710	689	678	676	653	601	592	593	572	540	546
Total Operating Expenses	628	610	628	628	578	588	558	553	502	491	455
Selling, General & Admin Expense	330	333	342	345	319	315	315	312	295	279	285
Depreciation Expense	232	235	232	225	210	200	199	195	182	191	175
Other Operating Expenses / (Income)	5.82	7.27	11	9.50	7.81	13	9.91	1.51	1.60	9.65	5.55
Impairment Charge	5.57	-2.07	5.09	2.79	0.39	6.16	-4.42	-1.51	-13	-27	-14
Restructuring Charge	55	37	37	47	41	54	39	46	37	39	3.38
Total Other Income / (Expense), net	-223	-158	-272	-182	-152	-193	-137	-207	-158	-105	-69
Interest & Investment Income	-195	-	-186	-	-	-	-153	-	-	-	-
Other Income / (Expense), net	-28	36	-86	-5.83	13	-41	16	-63	-21	32	53
Income Tax Expense	15	19	12	13	17	9.02	9.91	4.26	17	17	24
Net Income / (Loss) Attributable to Noncontrolling Interest	0.28	1.75	-0.05	-1.16	2.96	0.71	0.35	1.03	0.94	3.22	0.77
Basic Earnings per Share	$0.05	$0.35	($0.11)	$0.12	$0.25	$0.10	$0.31	$0.00	$0.22	$0.42	$0.66
Weighted Average Basic Shares Outstanding	294.51M	293.37M	293.60M	293.34M	292.75M	291.94M	292.15M	291.83M	291.44M	290.81M	290.94M
Diluted Earnings per Share	$0.05	$0.35	($0.11)	$0.12	$0.25	$0.10	$0.31	$0.00	$0.22	$0.42	$0.66
Weighted Average Diluted Shares Outstanding	297.26M	296.23M	293.60M	295.84M	295.22M	293.97M	294.27M	293.53M	293.05M	292.44M	292.55M
Weighted Average Basic & Diluted Shares Outstanding	295.04M	293.74M	293.46M	293.34M	293.13M	292.28M	291.99M	291.85M	291.62M	290.90M	290.71M
Cash Dividends to Common per Share	$0.79	-	$0.72	-	-	-	$0.65	-	-	-	-

This table details how cash moves in and out of Iron Mountain's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	-67	81	-114	51	12	28	-736	662	108	-31
Net Cash From Operating Activities	1,197	1,114	928	759	988	967	936	721	544	542
Net Cash From Continuing Operating Activities	1,197	1,114	928	759	988	967	937	724	541	542
Net Income / (Loss) Continuing Operations	184	187	562	453	343	268	368	178	104	125
Consolidated Net Income / (Loss)	184	187	562	453	343	268	355	172	107	125
Depreciation Expense	629	526	479	465	448	456	453	406	366	301
Amortization Expense	303	274	275	241	232	232	219	142	112	53
Non-Cash Adjustments To Reconcile Net Income	195	202	-80	-297	-156	-34	-59	122	71	113
Changes in Operating Assets and Liabilities, net	-114	-76	-308	-103	121	8.13	-43	-125	-111	-51
Net Cash From Investing Activities	-2,137	-1,444	-1,660	-473	-85	-731	-2,222	-599	-536	-457
Net Cash From Continuing Investing Activities	-2,137	-1,444	-1,660	-473	-85	-736	-2,230	-599	-633	-457
Purchase of Property, Plant & Equipment	-1,792	-1,339	-875	-611	-438	-693	-460	-343	-329	-290
Acquisitions	-251	-64	-885	-289	-141	-124	-64	-275	-324	-146
Sale of Property, Plant & Equipment	18	54	170	278	565	166	86	9.34	7.98	2.27
Other Investing Activities, net	-113	-95	-70	-66	-71	-86	-35	-20	-19	-23
Net Cash From Financing Activities	877	426	639	-221	-887	-199	551	540	125	-109
Net Cash From Continuing Financing Activities	877	426	639	-221	-887	-199	551	540	125	-109
Repayment of Debt	-14,509	-18,225	-11,603	-5,161	-11,572	-14,535	-14,192	-16,177	-14,851	-686
Repurchase of Common Equity	-35	-0.40	-4.52	-75	0.00	-5.75	-16	-15	-19	-14
Payment of Dividends	-792	-742	-727	-721	-719	-706	-676	-444	-508	-409
Issuance of Debt	16,153	19,376	12,950	5,710	11,404	15,047	15,352	16,574	15,470	985
Issuance of Common Equity	231	25	29	26	0.32	1.03	8.72	602	33	15
Other Financing Activities, net	-171	-8.75	-4.85	-	-	-	75	0.00	0.00	0.33
Effect of Exchange Rate Changes	-3.77	-14	-21	-14	-4.01	-	-	-	-25	-8.02
Cash Interest Paid	771	512	483	428	390	395	388	368	297	260
Cash Income Taxes Paid	91	90	100	130	43	62	64	104	70	42

This table details how cash moves in and out of Iron Mountain's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-0.38	-13	24	-47	-31	52	21	3.05	4.65	-13	10
Net Cash From Operating Activities	197	432	253	382	130	447	220	317	129	367	214
Net Cash From Continuing Operating Activities	197	432	253	382	130	447	220	317	129	367	214
Net Income / (Loss) Continuing Operations	16	106	-34	35	77	29	91	1.14	66	126	193
Consolidated Net Income / (Loss)	16	106	-34	35	77	29	91	1.14	66	126	193
Depreciation Expense	162	162	164	159	144	139	133	134	120	128	114
Amortization Expense	79	80	76	73	73	67	73	67	68	69	67
Non-Cash Adjustments To Reconcile Net Income	52	7.41	128	50	9.34	74	0.48	94	34	-29	-42
Changes in Operating Assets and Liabilities, net	-112	76	-81	65	-173	139	-78	22	-159	73	-118
Net Cash From Investing Activities	-767	-695	-482	-434	-526	-409	-390	-373	-273	-357	-313
Net Cash From Continuing Investing Activities	-767	-695	-482	-434	-526	-409	-390	-373	-273	-357	-313
Purchase of Property, Plant & Equipment	-675	-618	-396	-397	-381	-377	-362	-335	-266	-279	-267
Acquisitions	-61	-61	-57	-11	-122	-7.99	-18	-20	-17	-113	-53
Sale of Property, Plant & Equipment	0.19	12	0.43	0.32	5.61	8.81	9.34	-0.27	36	51	23
Other Investing Activities, net	-31	-28	-30	-27	-28	-33	-19	-17	-25	-16	-16
Net Cash From Financing Activities	579	238	270	7.19	362	22	194	60	150	-19	116
Net Cash From Continuing Financing Activities	579	238	270	7.19	362	22	194	60	150	-19	116
Repayment of Debt	-2,281	-15,763	315	2,671	-1,731	-18,193	374	4,245	-4,650	-12,795	297
Payment of Dividends	-226	-211	-192	-191	-199	-191	-182	-182	-188	-181	-181
Issuance of Debt	3,390	16,153	-	-2,479	2,479	18,386	-	-4,019	5,009	12,950	-
Other Financing Activities, net	-304	6.49	3.37	7.35	-188	5.05	1.98	5.49	-21	4.14	-0.35
Effect of Exchange Rate Changes	-9.74	13	-16	-2.63	2.34	-7.43	-3.52	-1.42	-1.52	-4.86	-7.74
Cash Interest Paid	267	126	261	108	275	42	200	65	205	72	183
Cash Income Taxes Paid	28	23	25	24	19	15	28	28	19	22	21

This table presents Iron Mountain's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	18,717	17,474	16,141	14,450	14,149	13,817	11,857	10,972	9,487	6,351
Total Current Assets	1,691	1,736	1,547	1,441	1,270	1,236	1,208	1,950	1,112	858
Cash & Equivalents	156	223	142	256	205	194	165	926	236	128
Accounts Receivable	1,291	1,260	1,175	961	859	851	847	836	691	564
Prepaid Expenses	244	253	230	224	205	192	196	189	184	143
Plant, Property, & Equipment, net	7,632	6,315	5,115	4,668	4,502	4,623	4,490	3,418	3,083	2,497
Plant, Property & Equipment, gross	11,986	10,374	9,026	8,647	8,246	8,049	7,601	6,251	5,536	4,744
Accumulated Depreciation	4,354	4,059	3,910	3,979	3,744	3,426	3,111	2,833	2,452	2,247
Total Noncurrent Assets	9,394	9,423	9,478	8,341	8,377	7,957	6,160	5,604	5,291	2,996
Noncurrent Note & Lease Receivables	2,490	2,696	2,584	2,314	2,197	1,869	0.00	-	-	-
Goodwill	5,084	5,018	4,883	4,464	4,558	4,485	4,441	4,070	3,905	2,361
Intangible Assets	1,275	1,280	1,423	1,181	1,327	1,393	1,507	1,401	1,253	603
Other Noncurrent Operating Assets	546	430	588	382	296	210	212	134	134	31
Total Liabilities & Shareholders' Equity	18,717	17,474	16,141	14,450	14,149	13,817	11,857	10,972	9,487	6,351
Total Liabilities	18,944	17,084	15,409	13,521	12,953	12,285	9,924	8,582	7,495	5,822
Total Current Liabilities	3,087	2,236	1,918	2,019	1,996	1,950	1,491	1,330	1,047	842
Short-Term Debt	715	121	88	309	194	389	126	146	173	88
Accounts Payable	679	540	469	369	1,506	1,286	319	289	222	220
Accrued Expenses	1,367	1,250	1,032	1,033	-	-	781	653	450	351
Current Deferred Revenue	327	326	329	307	296	274	265	242	201	183
Total Noncurrent Liabilities	15,856	14,848	13,491	11,502	10,957	10,335	8,433	7,252	6,449	4,980
Long-Term Debt	13,004	11,813	10,481	8,963	8,510	8,276	8,016	6,897	6,078	4,758
Noncurrent Deferred & Payable Income Tax Liabilities	205	235	263	224	198	188	184	156	151	55
Other Noncurrent Operating Liabilities	2,647	2,800	2,747	2,316	2,249	1,872	111	73	100	72
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	78	178	95	72	60	68	71	91	55	0.00
Total Equity & Noncontrolling Interests	-305	212	637	857	1,137	1,464	1,862	2,299	1,937	529
Total Preferred & Common Equity	-503	212	637	856	1,137	1,464	1,861	2,297	1,937	509
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-503	212	637	856	1,137	1,464	1,861	2,297	1,937	509
Common Stock	4,650	4,537	4,471	4,415	4,343	4,301	4,266	4,167	3,492	1,626
Accumulated Other Comprehensive Income / (Loss)	-570	-371	-442	-338	-256	-263	-266	-104	-213	-175
Other Equity Adjustments	-4,583	-3,954	-3,392	-3,221	-2,950	-2,575	-2,139	-1,766	-1,343	-942
Noncontrolling Interest	198	0.13	0.13	1.12	0.00	0.27	1.41	1.40	0.12	20

This table presents Iron Mountain's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	19,362	18,717	18,470	17,967	17,830	17,474	16,877	16,679	16,466	16,141	15,695
Total Current Assets	1,750	1,691	1,719	1,714	1,735	1,736	1,617	1,611	1,601	1,547	1,557
Cash & Equivalents	155	156	169	144	192	223	171	149	146	142	155
Accounts Receivable	1,312	1,291	1,243	1,274	1,268	1,260	1,168	1,182	1,174	1,175	1,134
Prepaid Expenses	283	244	307	296	275	253	279	280	280	230	268
Plant, Property, & Equipment, net	8,249	7,632	7,195	6,793	6,538	6,315	5,891	5,603	5,343	5,115	4,730
Plant, Property & Equipment, gross	12,758	11,986	11,549	10,977	10,647	10,374	9,878	9,547	9,287	9,026	8,794
Accumulated Depreciation	4,509	4,354	4,354	4,184	4,109	4,059	3,986	3,943	3,944	3,910	4,064
Total Noncurrent Assets	9,363	9,394	9,556	9,460	9,556	9,423	9,368	9,464	9,522	9,478	9,407
Noncurrent Note & Lease Receivables	2,387	2,490	2,591	2,593	2,678	2,696	2,621	2,671	-	2,584	2,556
Goodwill	5,142	5,084	5,198	5,100	5,107	5,018	4,938	4,928	4,897	4,883	4,831
Intangible Assets	1,267	1,275	1,277	1,284	1,331	1,280	1,353	1,349	4,047	1,423	1,445
Other Noncurrent Operating Assets	567	546	490	483	440	430	457	516	578	588	575
Total Liabilities & Shareholders' Equity	19,362	18,717	18,470	17,967	17,830	17,474	16,877	16,679	16,466	16,141	15,695
Total Liabilities	19,786	18,944	18,502	17,915	17,632	17,084	16,451	16,158	15,824	15,409	15,067
Total Current Liabilities	2,841	3,087	2,306	2,158	2,029	2,236	1,991	2,063	2,007	1,918	1,726
Short-Term Debt	737	715	137	125	119	121	108	103	102	88	81
Accounts Payable	708	679	587	528	525	540	448	482	512	469	1,362
Accrued Expenses	1,063	1,367	1,288	1,175	1,052	1,250	1,109	1,142	1,057	1,032	-
Current Deferred Revenue	333	327	295	330	333	326	325	336	335	329	283
Total Noncurrent Liabilities	16,945	15,856	16,195	15,757	15,603	14,848	14,460	14,096	13,818	13,491	13,341
Long-Term Debt	14,177	13,004	13,245	12,814	12,589	11,813	11,548	11,144	10,862	10,481	10,229
Noncurrent Deferred & Payable Income Tax Liabilities	205	205	233	231	233	235	274	273	272	263	308
Other Noncurrent Operating Liabilities	2,563	2,647	2,716	2,711	2,781	2,800	2,638	2,678	170	2,747	399
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	78	78	71	185	179	178	163	104	96	95	94
Total Equity & Noncontrolling Interests	-502	-305	-102	-133	19	212	263	416	546	637	534
Total Preferred & Common Equity	-699	-503	-259	-133	19	212	263	416	545	637	529
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-699	-503	-259	-133	19	212	263	416	545	637	529
Common Stock	4,613	4,650	4,605	4,559	4,522	4,537	4,511	4,491	4,462	4,471	4,449
Accumulated Other Comprehensive Income / (Loss)	-502	-570	-389	-461	-429	-371	-458	-382	-406	-442	-589
Other Equity Adjustments	-4,809	-4,583	-4,476	-4,231	-4,074	-3,954	-3,791	-3,693	-3,511	-3,392	-3,330
Noncontrolling Interest	196	198	157	0.13	0.13	0.13	0.13	0.13	0.13	0.13	4.64

This table displays calculated financial ratios and metrics derived from Iron Mountain's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.22%	7.38%	13.63%	8.30%	-2.71%	0.87%	9.89%	9.52%	16.74%	-3.52%
EBITDA Growth	17.65%	-13.89%	6.88%	19.19%	2.40%	-3.71%	35.19%	17.99%	19.77%	-7.64%
EBIT Growth	18.81%	-27.38%	6.94%	32.32%	5.86%	-8.84%	47.84%	21.28%	7.36%	-12.01%
NOPAT Growth	-0.20%	-18.69%	51.98%	-28.56%	34.74%	-11.80%	28.92%	61.44%	-13.57%	-48.96%
Net Income Growth	-1.92%	-66.69%	24.17%	31.95%	27.87%	-24.45%	106.80%	60.14%	-14.35%	-61.92%
EPS Growth	-3.17%	-66.84%	22.58%	30.25%	27.96%	-24.39%	92.19%	52.38%	-27.59%	-65.06%
Operating Cash Flow Growth	7.47%	20.04%	22.24%	-23.16%	0.00%	0.00%	29.76%	32.56%	0.39%	14.55%
Free Cash Flow Firm Growth	-164.07%	35.09%	-176.71%	-68.86%	114.03%	180.48%	-1,233.73%	102.48%	-599.25%	-0.44%
Invested Capital Growth	10.22%	8.43%	12.20%	2.59%	-3.08%	0.93%	16.48%	6.27%	52.62%	-1.52%
Revenue Q/Q Growth	2.70%	2.64%	2.40%	-10.83%	17.77%	0.43%	1.69%	1.51%	5.46%	-0.84%
EBITDA Q/Q Growth	9.59%	-4.86%	6.16%	-8.09%	14.19%	-6.04%	14.80%	-2.15%	10.93%	-0.53%
EBIT Q/Q Growth	15.37%	-9.95%	8.80%	-13.18%	31.47%	-11.90%	25.40%	-6.49%	11.70%	-0.33%
NOPAT Q/Q Growth	17.08%	-5.34%	7.78%	-29.95%	65.41%	-13.25%	19.10%	0.24%	39.79%	-7.59%
Net Income Q/Q Growth	71.37%	-34.00%	12.89%	-29.04%	157.11%	-30.04%	68.65%	-19.56%	68.48%	-5.63%
EPS Q/Q Growth	69.44%	-33.68%	12.43%	0.00%	0.00%	-29.01%	66.22%	-15.79%	82.61%	-6.45%
Operating Cash Flow Q/Q Growth	-1.29%	7.72%	8.39%	-7.88%	0.00%	0.00%	13.17%	12.62%	-15.58%	10.30%
Free Cash Flow Firm Q/Q Growth	23.12%	-108.72%	87.93%	-50.10%	74.90%	-31.29%	30.78%	-51.85%	5.72%	331.80%
Invested Capital Q/Q Growth	1.18%	1.58%	-15.39%	-0.63%	-1.68%	-0.05%	-1.55%	0.34%	-0.46%	0.20%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	56.15%	56.98%	57.11%	57.98%	57.63%	56.99%	57.55%	56.71%	55.35%	57.11%
EBITDA Margin	30.86%	29.44%	36.71%	39.02%	35.46%	33.69%	35.29%	28.69%	26.63%	25.95%
Operating Margin	16.42%	16.82%	20.57%	19.02%	22.54%	18.33%	19.13%	16.49%	14.28%	17.44%
EBIT Margin	15.71%	14.84%	21.94%	23.31%	19.08%	17.53%	19.40%	14.42%	13.02%	14.16%
Profit (Net Income) Margin	2.99%	3.42%	11.01%	10.08%	8.27%	6.29%	8.40%	4.47%	3.05%	4.16%
Tax Burden Percent	75.11%	82.42%	89.00%	71.97%	92.06%	81.77%	86.55%	85.44%	73.12%	77.25%
Interest Burden Percent	25.31%	27.94%	56.41%	60.08%	47.10%	43.90%	50.04%	36.24%	32.07%	38.05%
Effective Tax Rate	24.89%	17.58%	11.00%	28.03%	7.94%	18.26%	10.42%	11.43%	30.65%	23.27%
Return on Invested Capital (ROIC)	5.96%	6.53%	8.85%	6.26%	8.74%	6.41%	7.86%	6.80%	5.25%	7.61%
ROIC Less NNEP Spread (ROIC-NNEP)	1.41%	1.36%	5.03%	4.41%	2.64%	1.91%	2.63%	0.37%	0.77%	1.57%
Return on Net Nonoperating Assets (RNNOA)	219.10%	26.86%	58.82%	36.33%	16.41%	9.07%	8.57%	1.04%	3.26%	10.29%
Return on Equity (ROE)	225.06%	33.39%	67.67%	42.59%	25.15%	15.49%	16.43%	7.84%	8.51%	17.90%
Cash Return on Invested Capital (CROIC)	-3.76%	-1.56%	-2.65%	3.71%	11.87%	5.48%	-7.37%	0.72%	-36.41%	9.14%
Operating Return on Assets (OROA)	5.34%	4.84%	7.32%	7.32%	5.66%	5.82%	7.18%	5.42%	5.78%	6.62%
Return on Assets (ROA)	1.02%	1.11%	3.68%	3.17%	2.45%	2.09%	3.11%	1.68%	1.35%	1.95%
Return on Common Equity (ROCE)	-401.91%	25.25%	60.79%	39.92%	23.97%	14.86%	15.80%	7.57%	8.26%	17.48%
Return on Equity Simple (ROE_SIMPLE)	-36.51%	88.48%	88.30%	52.89%	30.18%	18.33%	19.08%	7.47%	5.54%	24.61%
Net Operating Profit after Tax (NOPAT)	758	760	934	615	861	639	724	562	348	402
NOPAT Margin	12.33%	13.86%	18.31%	13.69%	20.75%	14.98%	17.13%	14.60%	9.91%	13.38%
Net Nonoperating Expense Percent (NNEP)	4.55%	5.17%	3.83%	1.85%	6.10%	4.50%	5.23%	6.43%	4.48%	6.04%
Return On Investment Capital (ROIC_SIMPLE)	5.65%	6.26%	8.34%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	43.85%	43.02%	42.89%	42.02%	42.37%	43.01%	42.45%	43.29%	44.65%	42.89%
SG&A Expenses to Revenue	21.78%	22.56%	22.35%	22.77%	22.89%	23.26%	23.83%	24.37%	28.15%	28.09%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	39.74%	40.16%	36.53%	38.97%	35.09%	38.66%	38.42%	40.22%	41.07%	39.68%
Earnings before Interest and Taxes (EBIT)	966	813	1,120	1,047	791	747	820	555	457	426
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,898	1,613	1,873	1,753	1,471	1,436	1,491	1,103	935	781
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	93.87	21.20	15.92	6.35	4.87	3.61	2.96	2.81	6.71
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	5.02	3.63	2.65	3.03	1.74	1.67	1.59	1.77	1.55	1.14
Price to Earnings (P/E)	171.22	107.84	24.24	30.27	21.08	26.66	18.96	39.98	51.82	27.72
Dividend Yield	2.60%	3.73%	5.33%	5.26%	9.87%	9.88%	10.12%	8.78%	9.72%	11.81%
Earnings Yield	0.58%	0.93%	4.13%	3.30%	4.74%	3.75%	5.27%	2.50%	1.93%	3.61%
Enterprise Value to Invested Capital (EV/IC)	3.35	2.62	2.15	2.28	1.63	1.57	1.49	1.53	1.44	1.55
Enterprise Value to Revenue (EV/Rev)	7.27	5.79	4.71	5.06	3.81	3.68	3.49	3.38	3.28	2.71
Enterprise Value to EBITDA (EV/EBITDA)	23.54	19.69	12.82	12.96	10.73	10.91	9.90	11.79	12.30	10.44
Enterprise Value to EBIT (EV/EBIT)	46.25	39.05	21.46	21.70	19.95	20.96	18.00	23.46	25.15	19.14
Enterprise Value to NOPAT (EV/NOPAT)	58.93	41.80	25.71	36.95	18.34	24.53	20.39	23.17	33.06	20.26
Enterprise Value to Operating Cash Flow (EV/OCF)	37.34	28.52	25.89	29.93	15.98	0.00	15.78	18.05	21.15	15.05
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	62.41	13.50	28.69	0.00	217.43	0.00	16.87
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-60.57	30.62	14.44	9.98	7.27	5.66	4.21	2.95	3.14	9.17
Long-Term Debt to Equity	-57.41	30.31	14.32	9.64	7.11	5.40	4.15	2.89	3.05	9.00
Financial Leverage	154.85	19.74	11.70	8.24	6.22	4.75	3.26	2.77	4.26	6.56
Leverage Ratio	221.74	29.97	18.41	13.45	10.25	7.41	5.28	4.67	6.28	9.21
Compound Leverage Factor	56.13	8.37	10.39	8.08	4.83	3.25	2.64	1.69	2.02	3.50
Debt to Total Capital	101.68%	96.84%	93.52%	90.89%	87.91%	84.98%	80.82%	74.66%	75.84%	90.16%
Short-Term Debt to Total Capital	5.30%	0.98%	0.77%	3.03%	1.96%	3.82%	1.25%	1.55%	2.10%	1.64%
Long-Term Debt to Total Capital	96.38%	95.86%	92.75%	87.86%	85.96%	81.16%	79.56%	73.11%	73.74%	88.53%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	2.05%	1.45%	0.84%	0.72%	0.60%	0.67%	0.71%	0.98%	0.67%	0.37%
Common Equity to Total Capital	-3.73%	1.72%	5.63%	8.39%	11.48%	14.36%	18.47%	24.35%	23.49%	9.47%
Debt to EBITDA	7.23	7.40	5.64	5.29	5.92	6.03	5.46	6.38	6.69	6.21
Net Debt to EBITDA	7.15	7.26	5.57	5.14	5.78	5.90	5.35	5.55	6.43	6.04
Long-Term Debt to EBITDA	6.85	7.32	5.59	5.11	5.79	5.76	5.38	6.25	6.50	6.09
Debt to NOPAT	18.09	15.71	11.31	15.08	10.11	13.57	11.25	12.54	17.97	12.04
Net Debt to NOPAT	17.89	15.41	11.16	14.67	9.88	13.26	11.02	10.89	17.29	11.72
Long-Term Debt to NOPAT	17.15	15.55	11.22	14.58	9.89	12.96	11.07	12.28	17.47	11.82
Altman Z-Score	1.39	1.13	1.04	1.11	0.75	0.77	0.96	1.06	0.97	1.05
Noncontrolling Interest Sharing Ratio	278.58%	24.37%	10.16%	6.27%	4.68%	4.04%	3.81%	3.37%	2.96%	2.39%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.55	0.78	0.81	0.71	0.64	0.63	0.81	1.47	1.06	1.02
Quick Ratio	0.47	0.66	0.69	0.60	0.53	0.54	0.68	1.32	0.89	0.82
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-479	-181	-279	364	1,169	546	-678	60	-2,412	483
Operating Cash Flow to CapEx	67.47%	86.61%	131.60%	228.07%	0.00%	0.00%	250.21%	215.99%	169.64%	188.13%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.87	2.79	1.30	-1.66	0.17	-7.77	1.83
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	1.82	2.36	0.00	2.28	2.04	1.75	2.05
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	1.02	2.66	0.00	1.37	1.09	0.72	0.96
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.34	0.33	0.33	0.31	0.30	0.33	0.37	0.38	0.44	0.47
Accounts Receivable Turnover	4.82	4.50	4.78	4.93	4.85	5.02	5.02	5.04	5.59	5.15
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.88	0.96	1.04	0.98	0.91	0.94	1.07	1.18	1.26	1.19
Accounts Payable Turnover	4.43	4.67	5.22	2.01	1.26	2.28	5.90	6.51	7.10	6.11
Days Sales Outstanding (DSO)	75.71	81.08	76.39	73.98	75.25	72.68	72.67	72.47	65.26	70.91
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	82.45	78.08	69.89	181.35	290.01	159.79	61.84	56.05	51.43	59.79
Cash Conversion Cycle (CCC)	-6.75	3.00	6.50	-107.36	-214.76	-87.11	10.83	16.41	13.83	11.12
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	13,337	12,100	11,159	9,946	9,695	10,003	9,910	8,508	8,006	5,246
Invested Capital Turnover	0.48	0.47	0.48	0.46	0.42	0.43	0.46	0.47	0.53	0.57
Increase / (Decrease) in Invested Capital	1,237	941	1,214	251	-308	93	1,403	502	2,760	-81
Enterprise Value (EV)	44,686	31,756	24,022	22,716	15,781	15,667	14,760	13,012	11,502	8,153
Market Capitalization	30,846	19,867	13,500	13,626	7,223	7,128	6,711	6,801	5,432	3,416
Book Value per Share	($1.71)	$0.72	$2.19	$2.96	$3.94	$5.10	$6.50	$8.61	$7.35	$2.41
Tangible Book Value per Share	($23.38)	($20.84)	($19.50)	($16.54)	($16.48)	($15.37)	($14.28)	($11.89)	($12.23)	($11.63)
Total Capital	13,493	12,323	11,301	10,201	9,900	10,196	10,076	9,434	8,243	5,374
Total Debt	13,719	11,933	10,569	9,272	8,703	8,665	8,143	7,043	6,251	4,846
Total Long-Term Debt	13,004	11,813	10,481	8,963	8,510	8,276	8,016	6,897	6,078	4,758
Net Debt	13,563	11,710	10,427	9,016	8,498	8,471	7,977	6,118	6,015	4,717
Capital Expenditures (CapEx)	1,774	1,286	705	333	-126	527	374	334	321	288
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-837	-603	-425	-524	-737	-518	-322	-159	2.04	-24
Debt-free Net Working Capital (DFNWC)	-681	-380	-283	-268	-532	-324	-156	766	239	104
Net Working Capital (NWC)	-1,396	-501	-370	-577	-726	-713	-283	620	66	16
Net Nonoperating Expense (NNE)	575	572	372	162	517	370	369	390	241	277
Net Nonoperating Obligations (NNO)	13,563	11,710	10,427	9,016	8,498	8,471	7,977	6,118	6,015	4,717
Total Depreciation and Amortization (D&A)	932	800	754	706	679	689	671	549	478	355
Debt-free, Cash-free Net Working Capital to Revenue	-13.60%	-11.00%	-8.32%	-11.66%	-17.78%	-12.15%	-7.61%	-4.14%	0.06%	-0.81%
Debt-free Net Working Capital to Revenue	-11.07%	-6.93%	-5.54%	-5.96%	-12.83%	-7.60%	-3.70%	19.93%	6.79%	3.46%
Net Working Capital to Revenue	-22.70%	-9.14%	-7.26%	-12.85%	-17.50%	-16.73%	-6.69%	16.13%	1.87%	0.53%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.61	$0.63	$1.92	$1.56	$1.19	$0.93	$1.27	$0.69	$0.43	$0.58
Adjusted Weighted Average Basic Shares Outstanding	293.37M	291.94M	290.81M	289.46M	288.18M	286.97M	285.91M	265.90M	246.18M	210.76M
Adjusted Diluted Earnings per Share	$0.61	$0.63	$1.90	$1.55	$1.19	$0.93	$1.27	$0.69	$0.42	$0.58
Adjusted Weighted Average Diluted Shares Outstanding	296.23M	293.97M	292.44M	290.98M	288.64M	287.69M	286.65M	266.85M	247.27M	212.12M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.93	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	293.74M	292.28M	290.90M	289.83M	288.42M	287.34M	286.37M	285.31M	263.72M	211.51M
Normalized Net Operating Profit after Tax (NOPAT)	884	894	889	640	726	626	658	564	349	405
Normalized NOPAT Margin	14.38%	16.31%	17.41%	14.24%	17.51%	14.69%	15.57%	14.66%	9.93%	13.46%
Pre Tax Income Margin	3.98%	4.15%	12.38%	14.00%	8.99%	7.70%	9.71%	5.23%	4.18%	5.39%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	2.51	1.89	1.78	2.00	1.57	1.47	1.61
NOPAT to Interest Expense	0.00	0.00	0.00	1.47	2.06	1.52	1.77	1.59	1.12	1.53
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	1.71	2.19	0.53	1.09	0.62	0.44	0.52
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.67	2.36	0.27	0.85	0.64	0.09	0.43
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	431.33%	395.97%	129.39%	159.21%	209.58%	263.29%	190.40%	258.64%	473.40%	326.29%
Augmented Payout Ratio	450.50%	396.18%	130.19%	175.78%	209.58%	265.44%	195.02%	267.26%	490.74%	337.60%

This table displays calculated financial ratios and metrics derived from Iron Mountain's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.83%	11.37%	12.19%	13.00%	12.36%	11.01%	7.87%	5.30%	5.31%	10.30%	13.87%
EBITDA Growth	-1.68%	42.06%	-11.96%	30.29%	16.55%	-17.27%	-11.53%	-32.58%	14.48%	29.48%	36.48%
EBIT Growth	-12.53%	67.73%	-35.14%	50.06%	17.63%	-32.09%	-24.96%	-55.35%	32.02%	47.89%	69.37%
NOPAT Growth	-34.24%	36.29%	-18.06%	269.57%	5.43%	-19.14%	-15.60%	-83.31%	7.13%	52.94%	97.75%
Net Income Growth	-78.93%	262.01%	-136.84%	2,928.96%	17.53%	-76.77%	-52.63%	-99.43%	57.13%	104.44%	183.26%
EPS Growth	-80.00%	250.00%	-135.48%	0.00%	13.64%	-76.19%	-53.03%	-100.00%	57.14%	100.00%	186.96%
Operating Cash Flow Growth	51.72%	-3.49%	14.81%	20.45%	0.95%	21.74%	2.73%	8.88%	136.32%	24.28%	189.24%
Free Cash Flow Firm Growth	-201.90%	-30.32%	-173.37%	-171.88%	304.85%	23.19%	150.97%	149.00%	76.92%	-819.63%	-14,844.33%
Invested Capital Growth	12.75%	10.22%	10.66%	10.58%	-9.01%	8.43%	-9.68%	-10.99%	6.92%	12.20%	31.77%
Revenue Q/Q Growth	0.71%	1.54%	1.50%	3.90%	4.02%	2.28%	2.23%	3.32%	2.76%	-0.61%	-0.20%
EBITDA Q/Q Growth	-16.76%	38.56%	-11.29%	-3.90%	20.27%	-14.13%	31.28%	-14.03%	-14.64%	-8.17%	0.05%
EBIT Q/Q Growth	-29.14%	93.37%	-26.58%	-13.05%	35.87%	-25.23%	69.88%	-31.84%	-21.56%	-17.38%	1.08%
NOPAT Q/Q Growth	-44.70%	36.67%	5.71%	-17.69%	14.61%	-17.83%	376.79%	-76.52%	-12.09%	-14.24%	-5.71%
Net Income Q/Q Growth	-84.64%	413.93%	-197.24%	-55.05%	163.84%	-68.06%	7,895.71%	-98.26%	-47.84%	-34.87%	-4.42%
EPS Q/Q Growth	-85.71%	418.18%	-191.67%	-52.00%	150.00%	-67.74%	0.00%	-100.00%	-47.62%	-36.36%	-2.94%
Operating Cash Flow Q/Q Growth	-54.28%	70.64%	-33.82%	193.90%	-70.92%	103.01%	-30.57%	146.32%	-64.93%	71.31%	-26.42%
Free Cash Flow Firm Q/Q Growth	-49.38%	8.93%	-2.90%	-172.79%	291.05%	-151.28%	0.80%	307.45%	28.36%	65.97%	3.10%
Invested Capital Q/Q Growth	7.48%	1.18%	2.60%	1.05%	5.07%	1.58%	2.53%	-16.85%	25.21%	-15.39%	1.04%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	55.40%	56.43%	56.44%	55.95%	55.77%	57.65%	57.34%	56.36%	56.51%	57.78%	57.57%
EBITDA Margin	29.33%	35.49%	26.01%	29.76%	32.17%	27.82%	33.14%	25.81%	31.02%	37.34%	40.41%
Operating Margin	15.97%	17.86%	16.13%	15.01%	16.63%	16.25%	17.13%	15.65%	18.31%	19.40%	22.20%
EBIT Margin	14.18%	20.15%	10.58%	14.63%	17.48%	13.38%	18.30%	11.02%	16.70%	21.88%	26.31%
Profit (Net Income) Margin	1.02%	6.68%	-2.16%	2.26%	5.22%	2.06%	6.58%	0.08%	4.99%	9.82%	14.99%
Tax Burden Percent	52.25%	85.07%	158.31%	72.22%	82.26%	76.40%	90.22%	21.17%	79.64%	87.84%	88.96%
Interest Burden Percent	13.76%	38.98%	-12.90%	21.36%	36.27%	20.11%	39.87%	3.61%	37.50%	51.13%	64.04%
Effective Tax Rate	47.75%	14.93%	0.00%	27.78%	17.74%	23.60%	9.78%	78.83%	20.36%	12.16%	11.04%
Return on Invested Capital (ROIC)	3.87%	7.35%	5.39%	5.16%	5.79%	5.85%	6.58%	1.41%	5.58%	8.24%	8.49%
ROIC Less NNEP Spread (ROIC-NNEP)	3.01%	6.28%	3.69%	4.05%	4.82%	4.52%	5.55%	1.03%	4.59%	7.29%	7.92%
Return on Net Nonoperating Assets (RNNOA)	-363.01%	972.81%	231.43%	169.18%	148.42%	89.25%	126.71%	19.09%	79.63%	85.36%	102.47%
Return on Equity (ROE)	-359.15%	980.16%	236.82%	174.34%	154.21%	95.10%	133.29%	20.49%	85.21%	93.60%	110.96%
Cash Return on Invested Capital (CROIC)	-6.91%	-3.76%	-4.96%	-3.67%	15.22%	-1.56%	16.57%	18.52%	0.30%	-2.65%	-19.94%
Operating Return on Assets (OROA)	4.78%	6.85%	3.59%	4.91%	5.75%	4.36%	6.00%	3.57%	5.38%	7.30%	8.76%
Return on Assets (ROA)	0.34%	2.27%	-0.73%	0.76%	1.72%	0.67%	2.16%	0.03%	1.61%	3.28%	4.99%
Return on Common Equity (ROCE)	-1,079.85%	-1,750.38%	2.10%	86.28%	103.65%	71.93%	100.16%	17.21%	75.36%	84.09%	100.22%
Return on Equity Simple (ROE_SIMPLE)	-17.59%	0.00%	-41.38%	-174.78%	1,072.31%	0.00%	108.08%	92.56%	107.43%	0.00%	94.10%
Net Operating Profit after Tax (NOPAT)	133	240	176	166	202	176	215	45	192	218	254
NOPAT Margin	8.34%	15.20%	11.29%	10.84%	13.68%	12.42%	15.46%	3.31%	14.58%	17.05%	19.75%
Net Nonoperating Expense Percent (NNEP)	0.86%	1.07%	1.70%	1.10%	0.97%	1.33%	1.02%	0.37%	0.99%	0.95%	0.57%
Return On Investment Capital (ROIC_SIMPLE)	0.92%	1.79%	-	-	-	1.45%	-	-	-	1.95%	-
Cost of Revenue to Revenue	44.60%	43.57%	43.56%	44.05%	44.23%	42.35%	42.66%	43.64%	43.49%	42.22%	42.43%
SG&A Expenses to Revenue	20.71%	21.08%	21.96%	22.47%	21.63%	22.18%	22.69%	22.96%	22.41%	21.83%	22.17%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	39.44%	38.57%	40.31%	40.94%	39.14%	41.40%	40.21%	40.71%	38.20%	38.38%	35.37%
Earnings before Interest and Taxes (EBIT)	226	319	165	224	258	190	254	150	219	280	339
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	467	561	405	457	475	395	460	350	408	478	520
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	1,254.25	93.87	64.06	38.42	26.93	21.20	22.53
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	4.03	5.02	5.82	4.51	4.12	3.63	3.15	3.05	2.84	2.65	2.39
Price to Earnings (P/E)	207.08	171.22	332.90	114.53	120.02	107.84	60.45	42.16	25.36	24.24	24.03
Dividend Yield	3.33%	2.60%	2.24%	2.90%	3.23%	3.73%	4.35%	4.51%	4.90%	5.33%	6.03%
Earnings Yield	0.48%	0.58%	0.30%	0.87%	0.83%	0.93%	1.65%	2.37%	3.94%	4.13%	4.16%
Enterprise Value to Invested Capital (EV/IC)	2.81	3.35	3.66	3.06	2.83	2.62	2.39	2.34	2.01	2.15	1.86
Enterprise Value to Revenue (EV/Rev)	6.43	7.27	8.07	6.75	6.37	5.79	5.33	5.19	5.44	4.71	4.93
Enterprise Value to EBITDA (EV/EBITDA)	21.33	23.54	27.89	21.97	21.39	19.69	16.79	15.49	14.61	12.82	13.93
Enterprise Value to EBIT (EV/EBIT)	43.17	46.25	57.68	42.35	42.19	39.05	31.52	27.54	23.97	21.46	23.89
Enterprise Value to NOPAT (EV/NOPAT)	58.63	58.93	74.58	50.30	46.55	41.80	35.47	32.00	29.74	25.71	28.35
Enterprise Value to Operating Cash Flow (EV/OCF)	31.89	37.34	39.84	33.27	32.24	28.52	27.54	26.46	28.06	25.89	28.72
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	17.70	0.00	13.69	11.91	691.03	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-35.17	-60.57	-419.88	248.30	64.22	30.62	27.37	21.61	21.02	14.44	20.26
Long-Term Debt to Equity	-33.43	-57.41	-415.60	245.90	63.62	30.31	27.11	21.41	20.86	14.32	20.13
Financial Leverage	-120.60	154.85	62.68	41.73	30.80	19.74	22.82	18.48	17.35	11.70	12.94
Leverage Ratio	-164.45	221.74	89.71	60.51	40.87	29.97	30.92	25.51	21.78	18.41	17.98
Compound Leverage Factor	-22.63	86.44	-11.58	12.92	14.82	6.03	12.33	0.92	8.17	9.41	11.52
Debt to Total Capital	102.93%	101.68%	100.24%	99.60%	98.47%	96.84%	96.47%	95.58%	95.46%	93.52%	95.30%
Short-Term Debt to Total Capital	5.09%	5.30%	1.02%	0.97%	0.92%	0.98%	0.89%	0.87%	0.72%	0.77%	0.61%
Long-Term Debt to Total Capital	97.84%	96.38%	99.22%	98.63%	97.55%	95.86%	95.58%	94.71%	94.74%	92.75%	94.69%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.89%	2.05%	1.70%	1.42%	1.39%	1.45%	1.35%	0.89%	0.68%	0.84%	0.74%
Common Equity to Total Capital	-4.82%	-3.73%	-1.94%	-1.02%	0.14%	1.72%	2.17%	3.54%	3.86%	5.63%	3.97%
Debt to EBITDA	7.89	7.23	7.73	7.24	7.56	7.40	6.87	6.41	7.00	5.64	7.21
Net Debt to EBITDA	7.81	7.15	7.63	7.16	7.45	7.26	6.77	6.32	6.93	5.57	7.12
Long-Term Debt to EBITDA	7.50	6.85	7.65	7.17	7.49	7.32	6.81	6.35	6.95	5.59	7.16
Debt to NOPAT	21.69	18.09	20.66	16.58	16.46	15.71	14.52	13.24	14.25	11.31	14.67
Net Debt to NOPAT	21.47	17.89	20.40	16.40	16.21	15.41	14.31	13.06	14.10	11.16	14.49
Long-Term Debt to NOPAT	20.62	17.15	20.45	16.42	16.30	15.55	14.39	13.12	14.15	11.22	14.57
Altman Z-Score	1.06	1.27	1.45	1.22	1.14	1.01	0.95	0.91	0.89	0.87	0.85
Noncontrolling Interest Sharing Ratio	-200.67%	278.58%	99.11%	50.51%	32.79%	24.37%	24.85%	16.03%	11.55%	10.16%	9.68%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.62	0.55	0.75	0.79	0.86	0.78	0.81	0.78	0.80	0.81	0.90
Quick Ratio	0.52	0.47	0.61	0.66	0.72	0.66	0.67	0.65	0.66	0.69	0.75
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,489	-996	-1,094	-1,063	1,461	-765	1,491	1,479	-713	-996	-2,926
Operating Cash Flow to CapEx	29.25%	71.22%	63.93%	96.40%	34.63%	121.48%	62.55%	94.68%	55.94%	161.41%	88.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	-6.02	8.88	0.00	0.00	10.26	-5.20	0.00	-24.03
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	2.17	0.79	0.00	0.00	2.20	0.94	0.00	1.76
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	-0.08	-1.49	0.00	0.00	-0.12	-0.74	0.00	-0.24
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.34	0.34	0.34	0.34	0.33	0.33	0.33	0.32	0.32	0.33	0.33
Accounts Receivable Turnover	4.86	4.82	4.97	4.74	4.62	4.50	4.64	4.56	4.62	4.78	4.94
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.85	0.88	0.92	0.94	0.95	0.96	1.01	1.02	1.03	1.04	1.07
Accounts Payable Turnover	4.47	4.43	5.04	4.99	4.70	4.67	2.54	2.40	4.73	5.22	2.52
Days Sales Outstanding (DSO)	75.15	75.71	73.48	77.03	78.99	81.08	78.65	80.08	79.00	76.39	73.89
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	81.69	82.45	72.41	73.08	77.59	78.08	143.86	152.08	77.18	69.89	144.59
Cash Conversion Cycle (CCC)	-6.54	-6.75	1.07	3.94	1.40	3.00	-65.21	-72.00	1.83	6.50	-70.70
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	14,335	13,337	13,182	12,847	12,714	12,100	11,912	11,618	13,972	11,159	13,188
Invested Capital Turnover	0.46	0.48	0.48	0.48	0.42	0.47	0.43	0.42	0.38	0.48	0.43
Increase / (Decrease) in Invested Capital	1,621	1,237	1,270	1,230	-1,259	941	-1,277	-1,434	905	1,214	3,180
Enterprise Value (EV)	40,307	44,686	48,298	39,251	35,943	31,756	28,465	27,193	28,118	24,022	24,581
Market Capitalization	25,273	30,846	34,857	26,271	23,248	19,867	16,816	15,991	14,691	13,500	11,922
Book Value per Share	($2.38)	($1.71)	($0.88)	($0.45)	$0.06	$0.72	$0.90	$1.43	$1.88	$2.19	$1.82
Tangible Book Value per Share	($24.20)	($23.38)	($22.96)	($22.23)	($21.93)	($20.84)	($20.66)	($20.10)	($28.87)	($19.50)	($19.77)
Total Capital	14,490	13,493	13,350	12,992	12,905	12,323	12,082	11,767	14,119	11,301	13,344
Total Debt	14,914	13,719	13,382	12,940	12,707	11,933	11,656	11,247	13,478	10,569	12,716
Total Long-Term Debt	14,177	13,004	13,245	12,814	12,589	11,813	11,548	11,144	13,376	10,481	12,635
Net Debt	14,759	13,563	13,213	12,795	12,516	11,710	11,486	11,097	13,331	10,427	12,561
Capital Expenditures (CapEx)	675	606	396	396	376	368	352	335	230	228	244
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-509	-837	-619	-463	-367	-603	-437	-498	-450	-425	-243
Debt-free Net Working Capital (DFNWC)	-354	-681	-451	-319	-175	-380	-266	-349	-304	-283	-88
Net Working Capital (NWC)	-1,091	-1,396	-587	-444	-294	-501	-374	-451	-406	-370	-169
Net Nonoperating Expense (NNE)	117	135	209	132	125	147	123	44	126	92	61
Net Nonoperating Obligations (NNO)	14,759	13,563	13,213	12,795	12,516	11,710	11,486	11,097	13,331	10,427	12,561
Total Depreciation and Amortization (D&A)	241	243	240	232	217	205	206	201	188	198	181
Debt-free, Cash-free Net Working Capital to Revenue	-8.12%	-13.60%	-10.34%	-7.96%	-6.50%	-11.00%	-8.18%	-9.51%	-8.71%	-8.32%	-4.88%
Debt-free Net Working Capital to Revenue	-5.64%	-11.07%	-7.53%	-5.48%	-3.10%	-6.93%	-4.99%	-6.66%	-5.88%	-5.54%	-1.76%
Net Working Capital to Revenue	-17.41%	-22.70%	-9.81%	-7.64%	-5.21%	-9.14%	-7.01%	-8.62%	-7.85%	-7.26%	-3.39%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.05	$0.35	($0.11)	$0.12	$0.25	$0.10	$0.31	$0.00	$0.22	$0.42	$0.66
Adjusted Weighted Average Basic Shares Outstanding	294.51M	293.37M	293.60M	293.34M	292.75M	291.94M	292.15M	291.83M	291.44M	290.81M	290.94M
Adjusted Diluted Earnings per Share	$0.05	$0.35	($0.11)	$0.12	$0.25	$0.10	$0.31	$0.00	$0.22	$0.42	$0.66
Adjusted Weighted Average Diluted Shares Outstanding	297.26M	296.23M	293.60M	295.84M	295.22M	293.97M	294.27M	293.53M	293.05M	292.44M	292.55M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	295.04M	293.74M	293.46M	293.34M	293.13M	292.28M	291.99M	291.85M	291.62M	290.90M	290.71M
Normalized Net Operating Profit after Tax (NOPAT)	164	270	205	202	236	222	246	180	211	228	245
Normalized NOPAT Margin	10.32%	17.06%	13.19%	13.16%	15.97%	15.65%	17.70%	13.23%	16.03%	17.83%	19.01%
Pre Tax Income Margin	1.95%	7.86%	-1.37%	3.12%	6.34%	2.69%	7.30%	0.40%	6.26%	11.18%	16.85%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	1.27	1.57	0.00	0.00	1.04	1.60	0.00	2.78
NOPAT to Interest Expense	0.00	0.00	0.00	0.94	1.23	0.00	0.00	0.31	1.40	0.00	2.09
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	-0.97	-0.71	0.00	0.00	-1.29	-0.08	0.00	0.78
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	-1.30	-1.05	0.00	0.00	-2.01	-0.28	0.00	0.09
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	667.30%	431.33%	720.63%	328.26%	378.60%	395.97%	257.91%	189.69%	124.55%	129.39%	145.84%
Augmented Payout Ratio	667.30%	450.50%	753.85%	328.26%	378.60%	396.18%	257.91%	189.69%	124.55%	130.19%	145.84%

Frequently Asked Questions About Iron Mountain's Financials

When does Iron Mountain's financial year end?

According to the most recent income statement we have on file, Iron Mountain's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Iron Mountain's net income changed over the last 9 years?

Iron Mountain's net income appears to be on an upward trend, with a most recent value of $183.67 million in 2024, rising from $125.20 million in 2015. The previous period was $187.26 million in 2023. See where experts think Iron Mountain is headed by visiting Iron Mountain's forecast page.

What is Iron Mountain's operating income?

Iron Mountain's total operating income in 2024 was $1.01 billion, based on the following breakdown:

Total Gross Profit: $3.45 billion
Total Operating Expenses: $2.44 billion

How has Iron Mountain revenue changed over the last 9 years?

Over the last 9 years, Iron Mountain's total revenue changed from $3.01 billion in 2015 to $6.15 billion in 2024, a change of 104.5%.

How much debt does Iron Mountain have?

Iron Mountain's total liabilities were at $18.94 billion at the end of 2024, a 10.9% increase from 2023, and a 225.4% increase since 2015.

How much cash does Iron Mountain have?

In the past 9 years, Iron Mountain's cash and equivalents has ranged from $128.38 million in 2015 to $925.70 million in 2017, and is currently $155.72 million as of their latest financial filing in 2024.

How has Iron Mountain's book value per share changed over the last 9 years?

Over the last 9 years, Iron Mountain's book value per share changed from 2.41 in 2015 to -1.71 in 2024, a change of -171.1%.

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This page (NYSE:IRM) was last updated on 5/21/2025 by MarketBeat.com Staff

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Iron Mountain (IRM) Financials

Frequently Asked Questions About Iron Mountain's Financials

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Iron Mountain (IRM) Financials

Annual Income Statements for Iron Mountain

Quarterly Income Statements for Iron Mountain

Annual Cash Flow Statements for Iron Mountain

Quarterly Cash Flow Statements for Iron Mountain

Annual Balance Sheets for Iron Mountain

Quarterly Balance Sheets for Iron Mountain

Annual Metrics And Ratios for Iron Mountain

Quarterly Metrics And Ratios for Iron Mountain

Frequently Asked Questions About Iron Mountain's Financials

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