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Iron Mountain (IRM) Financials

Iron Mountain logo
$90.22 -1.61 (-1.75%)
Closing price 08/8/2025 03:59 PM Eastern
Extended Trading
$90.44 +0.22 (+0.25%)
As of 08/8/2025 07:41 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
Annual Income Statements for Iron Mountain

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders
326 123 105 170 354 267 343 450 557 184 180
Consolidated Net Income / (Loss)
329 125 107 172 355 268 343 453 562 187 184
Net Income / (Loss) Continuing Operations
329 125 104 178 368 268 343 453 562 187 184
Total Pre-Tax Income
223 162 147 201 410 328 373 629 632 227 245
Total Operating Income
549 525 502 634 808 781 935 854 1,050 922 1,010
Total Gross Profit
1,773 1,718 1,944 2,181 2,432 2,429 2,390 2,604 2,914 3,122 3,453
Total Revenue
3,118 3,008 3,511 3,846 4,226 4,263 4,147 4,492 5,104 5,480 6,150
Operating Revenue
3,118 3,008 3,511 3,846 4,226 4,263 4,147 4,492 5,104 5,480 6,150
Total Cost of Revenue
1,345 1,290 1,568 1,665 1,794 1,833 1,757 1,887 2,189 2,358 2,697
Operating Cost of Revenue
1,345 1,290 1,568 1,665 1,794 1,833 1,757 1,887 2,189 2,358 2,697
Total Operating Expenses
1,224 1,193 1,442 1,547 1,624 1,648 1,455 1,750 1,865 2,201 2,444
Selling, General & Admin Expense
870 845 988 937 1,007 992 949 1,023 1,141 1,236 1,340
Depreciation Expense
353 345 452 522 640 658 652 680 728 776 901
Other Operating Expenses / (Income)
- - - 85 51 13 0.00 13 48 26 36
Impairment Charge
1.07 3.00 1.41 2.25 -74 -64 -341 -172 -93 -13 6.20
Restructuring Charge
- - - 0.00 0.00 49 194 206 42 175 161
Total Other Income / (Expense), net
-326 -362 -355 -433 -398 -453 -562 -225 -418 -695 -765
Interest & Investment Income
- - - - - - - - -488 -586 -722
Other Income / (Expense), net
-65 -99 -44 -79 12 -34 -144 193 70 -109 -43
Income Tax Expense
-97 38 45 23 43 60 30 176 69 40 61
Net Income / (Loss) Attributable to Noncontrolling Interest
2.63 1.96 2.41 1.61 1.20 0.94 0.40 2.51 5.17 3.03 3.51
Basic Earnings per Share
$1.67 $0.58 $0.43 $0.64 $1.24 $0.93 $1.19 $1.56 $1.92 $0.63 $0.61
Weighted Average Basic Shares Outstanding
195.28M 210.76M 246.18M 265.90M 285.91M 286.97M 288.18M 289.46M 290.81M 291.94M 293.37M
Diluted Earnings per Share
$1.66 $0.58 $0.42 $0.64 $1.23 $0.93 $1.19 $1.55 $1.90 $0.63 $0.61
Weighted Average Diluted Shares Outstanding
196.75M 212.12M 247.27M 266.84M 286.65M 287.69M 288.64M 290.98M 292.44M 293.97M 296.23M
Weighted Average Basic & Diluted Shares Outstanding
195.30M 212.50M 243.80M 266.40M 285.40M 287.50M 288.42M 289.83M 290.90M 292.28M 293.74M
Cash Dividends to Common per Share
$5.37 $1.91 $2.04 $2.27 $2.38 $2.45 $2.47 $2.47 $2.47 $2.54 $2.73

Quarterly Income Statements for Iron Mountain

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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders
122 65 0.11 91 28 74 36 -34 104 16 -45
Consolidated Net Income / (Loss)
126 66 1.14 91 29 77 35 -34 106 16 -43
Net Income / (Loss) Continuing Operations
126 66 1.14 91 29 77 35 -34 106 16 -43
Total Pre-Tax Income
143 82 5.40 101 38 94 48 -21 124 31 -27
Total Operating Income
248 241 213 238 231 246 230 251 282 254 260
Total Gross Profit
739 743 765 796 819 824 858 879 892 882 957
Total Revenue
1,279 1,314 1,358 1,388 1,420 1,477 1,534 1,557 1,581 1,593 1,712
Operating Revenue
1,279 1,314 1,358 1,388 1,420 1,477 1,534 1,557 1,581 1,593 1,712
Total Cost of Revenue
540 572 593 592 601 653 676 678 689 710 755
Operating Cost of Revenue
540 572 593 592 601 653 676 678 689 710 755
Total Operating Expenses
491 502 553 558 588 578 628 628 610 628 697
Selling, General & Admin Expense
279 295 312 315 315 319 345 342 333 330 390
Depreciation Expense
191 182 195 199 200 210 225 232 235 232 253
Other Operating Expenses / (Income)
9.65 1.60 1.51 9.91 13 7.81 9.50 11 7.27 5.82 4.82
Impairment Charge
-27 -13 -1.51 -4.42 6.16 0.39 2.79 5.09 -2.07 5.57 -0.96
Restructuring Charge
39 37 46 39 54 41 47 37 37 55 50
Total Other Income / (Expense), net
-105 -158 -207 -137 -193 -152 -182 -272 -158 -223 -287
Interest & Investment Income
- - - -153 - -165 -177 -186 - -195 -205
Other Income / (Expense), net
32 -21 -63 16 -41 13 -5.83 -86 36 -28 -82
Income Tax Expense
17 17 4.26 9.91 9.02 17 13 12 19 15 16
Net Income / (Loss) Attributable to Noncontrolling Interest
3.22 0.94 1.03 0.35 0.71 2.96 -1.16 -0.05 1.75 0.28 1.58
Basic Earnings per Share
$0.42 $0.22 $0.00 $0.31 $0.10 $0.25 $0.12 ($0.11) $0.35 $0.05 ($0.15)
Weighted Average Basic Shares Outstanding
290.81M 291.44M 291.83M 292.15M 291.94M 292.75M 293.34M 293.60M 293.37M 294.51M 295.36M
Diluted Earnings per Share
$0.42 $0.22 $0.00 $0.31 $0.10 $0.25 $0.12 ($0.11) $0.35 $0.05 ($0.15)
Weighted Average Diluted Shares Outstanding
292.44M 293.05M 293.53M 294.27M 293.97M 295.22M 295.84M 293.60M 296.23M 297.26M 295.36M
Weighted Average Basic & Diluted Shares Outstanding
290.90M 291.62M 291.85M 291.99M 292.28M 293.13M 293.34M 293.46M 293.74M 295.04M 295.35M

Annual Cash Flow Statements for Iron Mountain

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents
5.41 -31 108 662 -736 28 12 51 -114 81 -67
Net Cash From Operating Activities
473 542 544 721 936 967 988 759 928 1,114 1,197
Net Cash From Continuing Operating Activities
473 542 541 724 937 967 988 759 928 1,114 1,197
Net Income / (Loss) Continuing Operations
329 125 104 178 368 268 343 453 562 187 184
Consolidated Net Income / (Loss)
329 125 107 172 355 268 343 453 562 187 184
Depreciation Expense
305 301 366 406 453 456 448 465 479 526 629
Amortization Expense
57 53 112 142 219 232 232 241 275 274 303
Non-Cash Adjustments To Reconcile Net Income
87 113 71 122 -59 -34 -156 -297 -80 202 195
Changes in Operating Assets and Liabilities, net
-304 -51 -111 -125 -43 8.13 121 -103 -308 -76 -114
Net Cash From Investing Activities
-480 -457 -536 -599 -2,222 -731 -85 -473 -1,660 -1,444 -2,137
Net Cash From Continuing Investing Activities
-480 -457 -633 -599 -2,230 -736 -85 -473 -1,660 -1,444 -2,137
Purchase of Property, Plant & Equipment
-362 -290 -329 -343 -460 -693 -438 -611 -875 -1,339 -1,792
Acquisitions
-163 -146 -324 -275 -64 -124 -141 -289 -885 -64 -251
Sale of Property, Plant & Equipment
44 2.27 7.98 9.34 86 166 565 278 170 54 18
Other Investing Activities, net
0.00 -23 -19 -20 -35 -86 -71 -66 -70 -95 -113
Net Cash From Financing Activities
20 -109 125 540 551 -199 -887 -221 639 426 877
Net Cash From Continuing Financing Activities
20 -109 125 540 551 -199 -887 -221 639 426 877
Repayment of Debt
-9,391 -686 -14,851 -16,177 -14,192 -14,535 -11,572 -5,161 -11,603 -18,225 -14,509
Repurchase of Common Equity
-3.85 -14 -19 -15 -16 -5.75 0.00 -75 -4.52 -0.40 -35
Payment of Dividends
-559 -409 -508 -444 -676 -706 -719 -721 -727 -742 -792
Issuance of Debt
9,928 985 15,470 16,574 15,352 15,047 11,404 5,710 12,950 19,376 16,153
Issuance of Common Equity
46 15 33 602 8.72 1.03 0.32 26 29 25 231
Other Financing Activities, net
-0.06 0.33 0.00 0.00 75 - - - -4.85 -8.75 -171
Effect of Exchange Rate Changes
-7.42 -8.02 -25 - - - -4.01 -14 -21 -14 -3.77
Cash Interest Paid
258 260 297 368 388 395 390 428 483 512 771
Cash Income Taxes Paid
167 42 70 104 64 62 43 130 100 90 91

Quarterly Cash Flow Statements for Iron Mountain

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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Change in Cash & Equivalents
-13 4.65 3.05 21 52 -31 -47 24 -13 -0.38 63
Net Cash From Operating Activities
367 129 317 220 447 130 382 253 432 197 375
Net Cash From Continuing Operating Activities
367 129 317 220 447 130 382 253 432 197 372
Net Income / (Loss) Continuing Operations
126 66 1.14 91 29 77 35 -34 106 16 -43
Consolidated Net Income / (Loss)
126 66 1.14 91 29 77 35 -34 106 16 -43
Depreciation Expense
128 120 134 133 139 144 159 164 162 162 181
Amortization Expense
69 68 67 73 67 73 73 76 80 79 81
Non-Cash Adjustments To Reconcile Net Income
-29 34 94 0.48 74 9.34 50 128 7.41 52 85
Changes in Operating Assets and Liabilities, net
73 -159 22 -78 139 -173 65 -81 76 -112 68
Net Cash From Investing Activities
-357 -273 -373 -390 -409 -526 -434 -482 -695 -767 -584
Net Cash From Continuing Investing Activities
-357 -273 -373 -390 -409 -526 -434 -482 -695 -767 -584
Purchase of Property, Plant & Equipment
-279 -266 -335 -362 -377 -381 -397 -396 -618 -675 -557
Acquisitions
-113 -17 -20 -18 -7.99 -125 -11 -57 -61 -61 -27
Sale of Property, Plant & Equipment
51 36 -0.27 9.34 8.81 5.61 0.32 0.43 12 0.19 9.91
Other Investing Activities, net
-16 -25 -17 -19 -33 -25 -27 -30 -28 -31 -10
Net Cash From Financing Activities
-19 150 60 194 22 362 7.19 270 238 579 304
Net Cash From Continuing Financing Activities
-19 150 60 194 22 362 7.19 270 238 579 304
Repayment of Debt
-12,795 -4,650 4,245 374 -18,193 -1,731 2,671 315 -15,763 -2,281 -5,075
Payment of Dividends
-181 -188 -182 -182 -191 -199 -191 -192 -211 -226 -232
Issuance of Debt
12,950 5,009 -4,019 - 18,386 2,479 -2,479 - 16,153 3,390 5,601
Other Financing Activities, net
4.14 -21 5.49 1.98 5.05 -188 7.35 3.37 6.49 -304 11
Effect of Exchange Rate Changes
-4.86 -1.52 -1.42 -3.52 -7.43 2.34 -2.63 -16 13 -9.74 -32
Cash Interest Paid
72 205 65 200 42 275 108 261 126 267 119
Cash Income Taxes Paid
22 19 28 28 15 19 24 25 23 28 32

Annual Balance Sheets for Iron Mountain

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets
6,523 6,351 9,487 10,972 11,857 13,817 14,149 14,450 16,141 17,474 18,717
Total Current Assets
918 858 1,112 1,950 1,208 1,236 1,270 1,441 1,547 1,736 1,691
Cash & Equivalents
126 128 236 926 165 194 205 256 142 223 156
Accounts Receivable
604 564 691 836 847 851 859 961 1,175 1,260 1,291
Prepaid Expenses
139 143 184 189 196 192 205 224 230 253 244
Plant, Property, & Equipment, net
2,551 2,497 3,083 3,418 4,490 4,623 4,502 4,668 5,115 6,315 7,632
Plant, Property & Equipment, gross
4,669 4,744 5,536 6,251 7,601 8,049 8,246 8,647 9,026 10,374 11,986
Accumulated Depreciation
2,118 2,247 2,452 2,833 3,111 3,426 3,744 3,979 3,910 4,059 4,354
Total Noncurrent Assets
3,055 2,996 5,291 5,604 6,160 7,957 8,377 8,341 9,478 9,423 9,394
Noncurrent Note & Lease Receivables
- - - - 0.00 1,869 2,197 2,314 2,584 2,696 2,490
Goodwill
2,424 2,361 3,905 4,070 4,441 4,485 4,558 4,464 4,883 5,018 5,084
Intangible Assets
608 603 1,253 1,401 1,507 1,393 1,327 1,181 1,423 1,280 1,275
Other Noncurrent Operating Assets
23 31 134 134 212 210 296 382 588 430 546
Total Liabilities & Shareholders' Equity
6,523 6,351 9,487 10,972 11,857 13,817 14,149 14,450 16,141 17,474 18,717
Total Liabilities
5,653 5,822 7,495 8,582 9,924 12,285 12,953 13,521 15,409 17,084 18,944
Total Current Liabilities
857 842 1,047 1,330 1,491 1,950 1,996 2,019 1,918 2,236 3,087
Short-Term Debt
52 88 173 146 126 389 194 309 88 121 715
Accounts Payable
203 220 222 289 319 1,286 1,506 369 469 540 679
Accrued Expenses
404 351 450 653 781 - - 1,033 1,032 1,250 1,367
Current Deferred Revenue
197 183 201 242 265 274 296 307 329 326 327
Total Noncurrent Liabilities
4,797 4,980 6,449 7,252 8,433 10,335 10,957 11,502 13,491 14,848 15,856
Long-Term Debt
4,564 4,758 6,078 6,897 8,016 8,276 8,510 8,963 10,481 11,813 13,004
Noncurrent Deferred & Payable Income Tax Liabilities
55 55 151 156 184 188 198 224 263 235 205
Other Noncurrent Operating Liabilities
74 72 100 73 111 1,872 2,249 2,316 2,747 2,800 2,647
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
- 0.00 55 91 71 68 60 72 95 178 78
Total Equity & Noncontrolling Interests
870 529 1,937 2,299 1,862 1,464 1,137 857 637 212 -305
Total Preferred & Common Equity
856 509 1,937 2,297 1,861 1,464 1,137 856 637 212 -503
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
856 509 1,937 2,297 1,861 1,464 1,137 856 637 212 -503
Common Stock
1,591 1,626 3,492 4,167 4,266 4,301 4,343 4,415 4,471 4,537 4,650
Accumulated Other Comprehensive Income / (Loss)
-75 -175 -213 -104 -266 -263 -256 -338 -442 -371 -570
Other Equity Adjustments
-660 -942 -1,343 -1,766 -2,139 -2,575 -2,950 -3,221 -3,392 -3,954 -4,583
Noncontrolling Interest
14 20 0.12 1.40 1.41 0.27 0.00 1.12 0.13 0.13 198

Quarterly Balance Sheets for Iron Mountain

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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Total Assets
16,141 16,466 16,679 16,877 17,474 17,830 17,967 18,470 18,717 19,362 20,177
Total Current Assets
1,547 1,601 1,611 1,617 1,736 1,735 1,714 1,719 1,691 1,750 1,897
Cash & Equivalents
142 146 149 171 223 192 144 169 156 155 218
Accounts Receivable
1,175 1,174 1,182 1,168 1,260 1,268 1,274 1,243 1,291 1,312 1,387
Prepaid Expenses
230 280 280 279 253 275 296 307 244 283 292
Plant, Property, & Equipment, net
5,115 5,343 5,603 5,891 6,315 6,538 6,793 7,195 7,632 8,249 8,775
Plant, Property & Equipment, gross
9,026 9,287 9,547 9,878 10,374 10,647 10,977 11,549 11,986 12,758 13,501
Accumulated Depreciation
3,910 3,944 3,943 3,986 4,059 4,109 4,184 4,354 4,354 4,509 4,726
Total Noncurrent Assets
9,478 9,522 9,464 9,368 9,423 9,556 9,460 9,556 9,394 9,363 9,505
Noncurrent Note & Lease Receivables
2,584 - 2,671 2,621 2,696 2,678 2,593 2,591 2,490 2,387 2,415
Goodwill
4,883 4,897 4,928 4,938 5,018 5,107 5,100 5,198 5,084 5,142 5,230
Intangible Assets
1,423 4,047 1,349 1,353 1,280 1,331 1,284 1,277 1,275 1,267 1,245
Other Noncurrent Operating Assets
588 578 516 457 430 440 483 490 546 567 615
Total Liabilities & Shareholders' Equity
16,141 16,466 16,679 16,877 17,474 17,830 17,967 18,470 18,717 19,362 20,177
Total Liabilities
15,409 15,824 16,158 16,451 17,084 17,632 17,915 18,502 18,944 19,786 20,669
Total Current Liabilities
1,918 2,007 2,063 1,991 2,236 2,029 2,158 2,306 3,087 2,841 2,999
Short-Term Debt
88 102 103 108 121 119 125 137 715 737 778
Accounts Payable
469 512 482 448 540 525 528 587 679 708 651
Accrued Expenses
1,032 1,057 1,142 1,109 1,250 1,052 1,175 1,288 1,367 1,063 1,228
Current Deferred Revenue
329 335 336 325 326 333 330 295 327 333 342
Total Noncurrent Liabilities
13,491 13,818 14,096 14,460 14,848 15,603 15,757 16,195 15,856 16,945 17,670
Long-Term Debt
10,481 10,862 11,144 11,548 11,813 12,589 12,814 13,245 13,004 14,177 14,818
Noncurrent Deferred & Payable Income Tax Liabilities
263 272 273 274 235 233 231 233 205 205 221
Other Noncurrent Operating Liabilities
2,747 170 2,678 2,638 2,800 2,781 2,711 2,716 2,647 2,563 2,631
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
95 96 104 163 178 179 185 71 78 78 77
Total Equity & Noncontrolling Interests
637 546 416 263 212 19 -133 -102 -305 -502 -569
Total Preferred & Common Equity
637 545 416 263 212 19 -133 -259 -503 -699 -767
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
637 545 416 263 212 19 -133 -259 -503 -699 -767
Common Stock
4,471 4,462 4,491 4,511 4,537 4,522 4,559 4,605 4,650 4,613 4,684
Accumulated Other Comprehensive Income / (Loss)
-442 -406 -382 -458 -371 -429 -461 -389 -570 -502 -364
Other Equity Adjustments
-3,392 -3,511 -3,693 -3,791 -3,954 -4,074 -4,231 -4,476 -4,583 -4,809 -5,087
Noncontrolling Interest
0.13 0.13 0.13 0.13 0.13 0.13 0.13 157 198 196 199

Annual Metrics And Ratios for Iron Mountain

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

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics
- - - - - - - - - - -
Revenue Growth
3.08% -3.52% 16.74% 9.52% 9.89% 0.87% -2.71% 8.30% 13.63% 7.38% 12.22%
EBITDA Growth
13.71% -7.64% 19.77% 17.99% 35.19% -3.71% 2.40% 19.19% 6.88% -13.89% 17.65%
EBIT Growth
16.92% -12.01% 7.36% 21.28% 47.84% -8.84% 5.86% 32.32% 6.94% -27.38% 18.81%
NOPAT Growth
163.60% -48.96% -13.57% 61.44% 28.92% -11.80% 34.74% -28.56% 51.98% -18.69% -0.20%
Net Income Growth
228.77% -61.92% -14.35% 60.14% 106.80% -24.45% 27.87% 31.95% 24.17% -66.69% -1.92%
EPS Growth
232.00% -65.06% -27.59% 52.38% 92.19% -24.39% 27.96% 30.25% 22.58% -66.84% -3.17%
Operating Cash Flow Growth
-6.82% 14.55% 0.39% 32.56% 29.76% 0.00% 0.00% -23.16% 22.24% 20.04% 7.47%
Free Cash Flow Firm Growth
940.14% -0.44% -599.25% 102.48% -1,233.73% 180.48% 114.03% -68.86% -176.71% 35.09% -164.07%
Invested Capital Growth
6.03% -1.52% 52.62% 6.27% 16.48% 0.93% -3.08% 2.59% 12.20% 8.43% 10.22%
Revenue Q/Q Growth
0.32% -0.84% 5.46% 1.51% 1.69% 0.43% 17.77% -10.83% 2.40% 2.64% 2.70%
EBITDA Q/Q Growth
0.94% -0.53% 10.93% -2.15% 14.80% -6.04% 14.19% -8.09% 6.16% -4.86% 9.59%
EBIT Q/Q Growth
0.42% -0.33% 11.70% -6.49% 25.40% -11.90% 31.47% -13.18% 8.80% -9.95% 15.37%
NOPAT Q/Q Growth
-0.85% -7.59% 39.79% 0.24% 19.10% -13.25% 65.41% -29.95% 7.78% -5.34% 17.08%
Net Income Q/Q Growth
-9.39% -5.63% 68.48% -19.56% 68.65% -30.04% 157.11% -29.04% 12.89% -34.00% 71.37%
EPS Q/Q Growth
-10.75% -6.45% 82.61% -15.79% 66.22% -29.01% 0.00% 0.00% 12.43% -33.68% 69.44%
Operating Cash Flow Q/Q Growth
-0.39% 10.30% -15.58% 12.62% 13.17% 0.00% 0.00% -7.88% 8.39% 7.72% -1.29%
Free Cash Flow Firm Q/Q Growth
-53.72% 331.80% 5.72% -51.85% 30.78% -31.29% 74.90% -50.10% 87.93% -108.72% 23.12%
Invested Capital Q/Q Growth
16.01% 0.20% -0.46% 0.34% -1.55% -0.05% -1.68% -0.63% -15.39% 1.58% 1.18%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
56.87% 57.11% 55.35% 56.71% 57.55% 56.99% 57.63% 57.98% 57.11% 56.98% 56.15%
EBITDA Margin
27.11% 25.95% 26.63% 28.69% 35.29% 33.69% 35.46% 39.02% 36.71% 29.44% 30.86%
Operating Margin
17.62% 17.44% 14.28% 16.49% 19.13% 18.33% 22.54% 19.02% 20.57% 16.82% 16.42%
EBIT Margin
15.53% 14.16% 13.02% 14.42% 19.40% 17.53% 19.08% 23.31% 21.94% 14.84% 15.71%
Profit (Net Income) Margin
10.54% 4.16% 3.05% 4.47% 8.40% 6.29% 8.27% 10.08% 11.01% 3.42% 2.99%
Tax Burden Percent
147.17% 77.25% 73.12% 85.44% 86.55% 81.77% 92.06% 71.97% 89.00% 82.42% 75.11%
Interest Burden Percent
46.14% 38.05% 32.07% 36.24% 50.04% 43.90% 47.10% 60.08% 56.41% 27.94% 25.31%
Effective Tax Rate
-43.55% 23.27% 30.65% 11.43% 10.42% 18.26% 7.94% 28.03% 11.00% 17.58% 24.89%
Return on Invested Capital (ROIC)
15.24% 7.61% 5.25% 6.80% 7.86% 6.41% 8.74% 6.26% 8.85% 6.53% 5.96%
ROIC Less NNEP Spread (ROIC-NNEP)
4.33% 1.57% 0.77% 0.37% 2.63% 1.91% 2.64% 4.41% 5.03% 1.36% 1.41%
Return on Net Nonoperating Assets (RNNOA)
18.98% 10.29% 3.26% 1.04% 8.57% 9.07% 16.41% 36.33% 58.82% 26.86% 219.10%
Return on Equity (ROE)
34.21% 17.90% 8.51% 7.84% 16.43% 15.49% 25.15% 42.59% 67.67% 33.39% 225.06%
Cash Return on Invested Capital (CROIC)
9.38% 9.14% -36.41% 0.72% -7.37% 5.48% 11.87% 3.71% -2.65% -1.56% -3.76%
Operating Return on Assets (OROA)
7.35% 6.62% 5.78% 5.42% 7.18% 5.82% 5.66% 7.32% 7.32% 4.84% 5.34%
Return on Assets (ROA)
4.99% 1.95% 1.35% 1.68% 3.11% 2.09% 2.45% 3.17% 3.68% 1.11% 1.02%
Return on Common Equity (ROCE)
33.79% 17.48% 8.26% 7.57% 15.80% 14.86% 23.97% 39.92% 60.79% 25.25% -401.91%
Return on Equity Simple (ROE_SIMPLE)
38.39% 24.61% 5.54% 7.47% 19.08% 18.33% 30.18% 52.89% 88.30% 88.48% -36.51%
Net Operating Profit after Tax (NOPAT)
788 402 348 562 724 639 861 615 934 760 758
NOPAT Margin
25.29% 13.38% 9.91% 14.60% 17.13% 14.98% 20.75% 13.69% 18.31% 13.86% 12.33%
Net Nonoperating Expense Percent (NNEP)
10.91% 6.04% 4.48% 6.43% 5.23% 4.50% 6.10% 1.85% 3.83% 5.17% 4.55%
Return On Investment Capital (ROIC_SIMPLE)
- - - - - - - - 8.34% 6.26% 5.65%
Cost of Revenue to Revenue
43.13% 42.89% 44.65% 43.29% 42.45% 43.01% 42.37% 42.02% 42.89% 43.02% 43.85%
SG&A Expenses to Revenue
27.89% 28.09% 28.15% 24.37% 23.83% 23.26% 22.89% 22.77% 22.35% 22.56% 21.78%
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
39.25% 39.68% 41.07% 40.22% 38.42% 38.66% 35.09% 38.97% 36.53% 40.16% 39.74%
Earnings before Interest and Taxes (EBIT)
484 426 457 555 820 747 791 1,047 1,120 813 966
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
845 781 935 1,103 1,491 1,436 1,471 1,753 1,873 1,613 1,898
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
4.92 6.71 2.81 2.96 3.61 4.87 6.35 15.92 21.20 93.87 0.00
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)
1.35 1.14 1.55 1.77 1.59 1.67 1.74 3.03 2.65 3.63 5.02
Price to Earnings (P/E)
12.93 27.72 51.82 39.98 18.96 26.66 21.08 30.27 24.24 107.84 171.22
Dividend Yield
11.88% 11.81% 9.72% 8.78% 10.12% 9.88% 9.87% 5.26% 5.33% 3.73% 2.60%
Earnings Yield
7.73% 3.61% 1.93% 2.50% 5.27% 3.75% 4.74% 3.30% 4.13% 0.93% 0.58%
Enterprise Value to Invested Capital (EV/IC)
1.63 1.55 1.44 1.53 1.49 1.57 1.63 2.28 2.15 2.62 3.35
Enterprise Value to Revenue (EV/Rev)
2.79 2.71 3.28 3.38 3.49 3.68 3.81 5.06 4.71 5.79 7.27
Enterprise Value to EBITDA (EV/EBITDA)
10.28 10.44 12.30 11.79 9.90 10.91 10.73 12.96 12.82 19.69 23.54
Enterprise Value to EBIT (EV/EBIT)
17.94 19.14 25.15 23.46 18.00 20.96 19.95 21.70 21.46 39.05 46.25
Enterprise Value to NOPAT (EV/NOPAT)
11.02 20.26 33.06 23.17 20.39 24.53 18.34 36.95 25.71 41.80 58.93
Enterprise Value to Operating Cash Flow (EV/OCF)
18.37 15.05 21.15 18.05 15.78 0.00 15.98 29.93 25.89 28.52 37.34
Enterprise Value to Free Cash Flow (EV/FCFF)
17.90 16.87 0.00 217.43 0.00 28.69 13.50 62.41 0.00 0.00 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
5.31 9.17 3.14 2.95 4.21 5.66 7.27 9.98 14.44 30.62 -60.57
Long-Term Debt to Equity
5.25 9.00 3.05 2.89 4.15 5.40 7.11 9.64 14.32 30.31 -57.41
Financial Leverage
4.39 6.56 4.26 2.77 3.26 4.75 6.22 8.24 11.70 19.74 154.85
Leverage Ratio
6.86 9.21 6.28 4.67 5.28 7.41 10.25 13.45 18.41 29.97 221.74
Compound Leverage Factor
3.16 3.50 2.02 1.69 2.64 3.25 4.83 8.08 10.39 8.37 56.13
Debt to Total Capital
84.14% 90.16% 75.84% 74.66% 80.82% 84.98% 87.91% 90.89% 93.52% 96.84% 101.68%
Short-Term Debt to Total Capital
0.95% 1.64% 2.10% 1.55% 1.25% 3.82% 1.96% 3.03% 0.77% 0.98% 5.30%
Long-Term Debt to Total Capital
83.19% 88.53% 73.74% 73.11% 79.56% 81.16% 85.96% 87.86% 92.75% 95.86% 96.38%
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
0.25% 0.37% 0.67% 0.98% 0.71% 0.67% 0.60% 0.72% 0.84% 1.45% 2.05%
Common Equity to Total Capital
15.61% 9.47% 23.49% 24.35% 18.47% 14.36% 11.48% 8.39% 5.63% 1.72% -3.73%
Debt to EBITDA
5.46 6.21 6.69 6.38 5.46 6.03 5.92 5.29 5.64 7.40 7.23
Net Debt to EBITDA
5.27 6.04 6.43 5.55 5.35 5.90 5.78 5.14 5.57 7.26 7.15
Long-Term Debt to EBITDA
5.40 6.09 6.50 6.25 5.38 5.76 5.79 5.11 5.59 7.32 6.85
Debt to NOPAT
5.85 12.04 17.97 12.54 11.25 13.57 10.11 15.08 11.31 15.71 18.09
Net Debt to NOPAT
5.65 11.72 17.29 10.89 11.02 13.26 9.88 14.67 11.16 15.41 17.89
Long-Term Debt to NOPAT
5.79 11.82 17.47 12.28 11.07 12.96 9.89 14.58 11.22 15.55 17.15
Altman Z-Score
1.18 1.05 0.97 1.06 0.96 0.77 0.75 1.11 1.04 1.13 1.39
Noncontrolling Interest Sharing Ratio
1.25% 2.39% 2.96% 3.37% 3.81% 4.04% 4.68% 6.27% 10.16% 24.37% 278.58%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
1.07 1.02 1.06 1.47 0.81 0.63 0.64 0.71 0.81 0.78 0.55
Quick Ratio
0.85 0.82 0.89 1.32 0.68 0.54 0.53 0.60 0.69 0.66 0.47
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
485 483 -2,412 60 -678 546 1,169 364 -279 -181 -479
Operating Cash Flow to CapEx
148.99% 188.13% 169.64% 215.99% 250.21% 0.00% 0.00% 228.07% 131.60% 86.61% 67.47%
Free Cash Flow to Firm to Interest Expense
1.86 1.83 -7.77 0.17 -1.66 1.30 2.79 0.87 0.00 0.00 0.00
Operating Cash Flow to Interest Expense
1.81 2.05 1.75 2.04 2.28 0.00 2.36 1.82 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense
0.60 0.96 0.72 1.09 1.37 0.00 2.66 1.02 0.00 0.00 0.00
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.47 0.47 0.44 0.38 0.37 0.33 0.30 0.31 0.33 0.33 0.34
Accounts Receivable Turnover
5.11 5.15 5.59 5.04 5.02 5.02 4.85 4.93 4.78 4.50 4.82
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
1.22 1.19 1.26 1.18 1.07 0.94 0.91 0.98 1.04 0.96 0.88
Accounts Payable Turnover
6.41 6.11 7.10 6.51 5.90 2.28 1.26 2.01 5.22 4.67 4.43
Days Sales Outstanding (DSO)
71.48 70.91 65.26 72.47 72.67 72.68 75.25 73.98 76.39 81.08 75.71
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)
56.93 59.79 51.43 56.05 61.84 159.79 290.01 181.35 69.89 78.08 82.45
Cash Conversion Cycle (CCC)
14.54 11.12 13.83 16.41 10.83 -87.11 -214.76 -107.36 6.50 3.00 -6.75
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
5,327 5,246 8,006 8,508 9,910 10,003 9,695 9,946 11,159 12,100 13,337
Invested Capital Turnover
0.60 0.57 0.53 0.47 0.46 0.43 0.42 0.46 0.48 0.47 0.48
Increase / (Decrease) in Invested Capital
303 -81 2,760 502 1,403 93 -308 251 1,214 941 1,237
Enterprise Value (EV)
8,687 8,153 11,502 13,012 14,760 15,667 15,781 22,716 24,022 31,756 44,686
Market Capitalization
4,217 3,416 5,432 6,801 6,711 7,128 7,223 13,626 13,500 19,867 30,846
Book Value per Share
$4.42 $2.41 $7.35 $8.61 $6.50 $5.10 $3.94 $2.96 $2.19 $0.72 ($1.71)
Tangible Book Value per Share
($11.23) ($11.63) ($12.23) ($11.89) ($14.28) ($15.37) ($16.48) ($16.54) ($19.50) ($20.84) ($23.38)
Total Capital
5,486 5,374 8,243 9,434 10,076 10,196 9,900 10,201 11,301 12,323 13,493
Total Debt
4,616 4,846 6,251 7,043 8,143 8,665 8,703 9,272 10,569 11,933 13,719
Total Long-Term Debt
4,564 4,758 6,078 6,897 8,016 8,276 8,510 8,963 10,481 11,813 13,004
Net Debt
4,457 4,717 6,015 6,118 7,977 8,471 8,498 9,016 10,427 11,710 13,563
Capital Expenditures (CapEx)
317 288 321 334 374 527 -126 333 705 1,286 1,774
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-47 -24 2.04 -159 -322 -518 -737 -524 -425 -603 -837
Debt-free Net Working Capital (DFNWC)
113 104 239 766 -156 -324 -532 -268 -283 -380 -681
Net Working Capital (NWC)
61 16 66 620 -283 -713 -726 -577 -370 -501 -1,396
Net Nonoperating Expense (NNE)
460 277 241 390 369 370 517 162 372 572 575
Net Nonoperating Obligations (NNO)
4,457 4,717 6,015 6,118 7,977 8,471 8,498 9,016 10,427 11,710 13,563
Total Depreciation and Amortization (D&A)
361 355 478 549 671 689 679 706 754 800 932
Debt-free, Cash-free Net Working Capital to Revenue
-1.50% -0.81% 0.06% -4.14% -7.61% -12.15% -17.78% -11.66% -8.32% -11.00% -13.60%
Debt-free Net Working Capital to Revenue
3.63% 3.46% 6.79% 19.93% -3.70% -7.60% -12.83% -5.96% -5.54% -6.93% -11.07%
Net Working Capital to Revenue
1.96% 0.53% 1.87% 16.13% -6.69% -16.73% -17.50% -12.85% -7.26% -9.14% -22.70%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$1.67 $0.58 $0.43 $0.69 $1.27 $0.93 $1.19 $1.56 $1.92 $0.63 $0.61
Adjusted Weighted Average Basic Shares Outstanding
195.28M 210.76M 246.18M 265.90M 285.91M 286.97M 288.18M 289.46M 290.81M 291.94M 293.37M
Adjusted Diluted Earnings per Share
$1.66 $0.58 $0.42 $0.69 $1.27 $0.93 $1.19 $1.55 $1.90 $0.63 $0.61
Adjusted Weighted Average Diluted Shares Outstanding
196.75M 212.12M 247.27M 266.85M 286.65M 287.69M 288.64M 290.98M 292.44M 293.97M 296.23M
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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
210.07M 211.51M 263.72M 285.31M 286.37M 287.34M 288.42M 289.83M 290.90M 292.28M 293.74M
Normalized Net Operating Profit after Tax (NOPAT)
385 405 349 564 658 626 726 640 889 894 884
Normalized NOPAT Margin
12.36% 13.46% 9.93% 14.66% 15.57% 14.69% 17.51% 14.24% 17.41% 16.31% 14.38%
Pre Tax Income Margin
7.16% 5.39% 4.18% 5.23% 9.71% 7.70% 8.99% 14.00% 12.38% 4.15% 3.98%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
1.86 1.61 1.47 1.57 2.00 1.78 1.89 2.51 0.00 0.00 0.00
NOPAT to Interest Expense
3.02 1.53 1.12 1.59 1.77 1.52 2.06 1.47 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense
0.64 0.52 0.44 0.62 1.09 0.53 2.19 1.71 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense
1.81 0.43 0.09 0.64 0.85 0.27 2.36 0.67 0.00 0.00 0.00
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
170.00% 326.29% 473.40% 258.64% 190.40% 263.29% 209.58% 159.21% 129.39% 395.97% 431.33%
Augmented Payout Ratio
171.17% 337.60% 490.74% 267.26% 195.02% 265.44% 209.58% 175.78% 130.19% 396.18% 450.50%

Quarterly Metrics And Ratios for Iron Mountain

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

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Growth Metrics
- - - - - - - - - - -
Revenue Growth
10.30% 5.31% 5.30% 7.87% 11.01% 12.36% 13.00% 12.19% 11.37% 7.83% 11.57%
EBITDA Growth
29.48% 14.48% -32.58% -11.53% -17.27% 16.55% 30.29% -11.96% 42.06% -1.68% -3.62%
EBIT Growth
47.89% 32.02% -55.35% -24.96% -32.09% 17.63% 50.06% -35.14% 67.73% -12.53% -20.69%
NOPAT Growth
52.94% 7.13% -83.31% -15.60% -19.14% 5.43% 269.57% -18.06% 36.29% -34.24% 9.39%
Net Income Growth
104.44% 57.13% -99.43% -52.63% -76.77% 17.53% 2,928.96% -136.84% 262.01% -78.93% -225.18%
EPS Growth
100.00% 57.14% -100.00% -53.03% -76.19% 13.64% 0.00% -135.48% 250.00% -80.00% -225.00%
Operating Cash Flow Growth
24.28% 136.32% 8.88% 2.73% 21.74% 0.95% 20.45% 14.81% -3.49% 51.72% -1.85%
Free Cash Flow Firm Growth
-819.63% 76.92% 149.00% 150.97% 23.19% 304.85% -171.88% -173.37% -30.32% -201.90% -74.60%
Invested Capital Growth
12.20% 6.92% -10.99% -9.68% 8.43% -9.01% 10.58% 10.66% 10.22% 12.75% 15.87%
Revenue Q/Q Growth
-0.61% 2.76% 3.32% 2.23% 2.28% 4.02% 3.90% 1.50% 1.54% 0.71% 7.50%
EBITDA Q/Q Growth
-8.17% -14.64% -14.03% 31.28% -14.13% 20.27% -3.90% -11.29% 38.56% -16.76% -5.80%
EBIT Q/Q Growth
-17.38% -21.56% -31.84% 69.88% -25.23% 35.87% -13.05% -26.58% 93.37% -29.14% -21.16%
NOPAT Q/Q Growth
-14.24% -12.09% -76.52% 376.79% -17.83% 14.61% -17.69% 5.71% 36.67% -44.70% 36.92%
Net Income Q/Q Growth
-34.87% -47.84% -98.26% 7,895.71% -68.06% 163.84% -55.05% -197.24% 413.93% -84.64% -366.99%
EPS Q/Q Growth
-36.36% -47.62% -100.00% 0.00% -67.74% 150.00% -52.00% -191.67% 418.18% -85.71% -400.00%
Operating Cash Flow Q/Q Growth
71.31% -64.93% 146.32% -30.57% 103.01% -70.92% 193.90% -33.82% 70.64% -54.28% 90.13%
Free Cash Flow Firm Q/Q Growth
65.97% 28.36% 307.45% 0.80% -151.28% 291.05% -172.79% -2.90% 8.93% -49.38% -24.73%
Invested Capital Q/Q Growth
-15.39% 25.21% -16.85% 2.53% 1.58% 5.07% 1.05% 2.60% 1.18% 7.48% 3.84%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
57.78% 56.51% 56.36% 57.34% 57.65% 55.77% 55.95% 56.44% 56.43% 55.40% 55.91%
EBITDA Margin
37.34% 31.02% 25.81% 33.14% 27.82% 32.17% 29.76% 26.01% 35.49% 29.33% 25.70%
Operating Margin
19.40% 18.31% 15.65% 17.13% 16.25% 16.63% 15.01% 16.13% 17.86% 15.97% 15.18%
EBIT Margin
21.88% 16.70% 11.02% 18.30% 13.38% 17.48% 14.63% 10.58% 20.15% 14.18% 10.40%
Profit (Net Income) Margin
9.82% 4.99% 0.08% 6.58% 2.06% 5.22% 2.26% -2.16% 6.68% 1.02% -2.53%
Tax Burden Percent
87.84% 79.64% 21.17% 90.22% 76.40% 82.26% 72.22% 158.31% 85.07% 52.25% 160.26%
Interest Burden Percent
51.13% 37.50% 3.61% 39.87% 20.11% 36.27% 21.36% -12.90% 38.98% 13.76% -15.19%
Effective Tax Rate
12.16% 20.36% 78.83% 9.78% 23.60% 17.74% 27.78% 0.00% 14.93% 47.75% 0.00%
Return on Invested Capital (ROIC)
8.24% 5.58% 1.41% 6.58% 5.85% 5.79% 5.16% 5.39% 7.35% 3.87% 4.94%
ROIC Less NNEP Spread (ROIC-NNEP)
7.29% 4.59% 1.03% 5.55% 4.52% 4.82% 4.05% 3.69% 6.28% 3.01% 3.34%
Return on Net Nonoperating Assets (RNNOA)
85.36% 79.63% 19.09% 126.71% 89.25% 148.42% 169.18% 231.43% 972.81% -363.01% -213.82%
Return on Equity (ROE)
93.60% 85.21% 20.49% 133.29% 95.10% 154.21% 174.34% 236.82% 980.16% -359.15% -208.88%
Cash Return on Invested Capital (CROIC)
-2.65% 0.30% 18.52% 16.57% -1.56% 15.22% -3.67% -4.96% -3.76% -6.91% -11.53%
Operating Return on Assets (OROA)
7.30% 5.38% 3.57% 6.00% 4.36% 5.75% 4.91% 3.59% 6.85% 4.78% 3.51%
Return on Assets (ROA)
3.28% 1.61% 0.03% 2.16% 0.67% 1.72% 0.76% -0.73% 2.27% 0.34% -0.86%
Return on Common Equity (ROCE)
84.09% 75.36% 17.21% 100.16% 71.93% 103.65% 86.28% 2.10% -1,750.38% -1,079.85% -427.50%
Return on Equity Simple (ROE_SIMPLE)
0.00% 107.43% 92.56% 108.08% 0.00% 1,072.31% -174.78% -41.38% 0.00% -17.59% 0.00%
Net Operating Profit after Tax (NOPAT)
218 192 45 215 176 202 166 176 240 133 182
NOPAT Margin
17.05% 14.58% 3.31% 15.46% 12.42% 13.68% 10.84% 11.29% 15.20% 8.34% 10.63%
Net Nonoperating Expense Percent (NNEP)
0.95% 0.99% 0.37% 1.02% 1.33% 0.97% 1.10% 1.70% 1.07% 0.86% 1.60%
Return On Investment Capital (ROIC_SIMPLE)
1.95% - - - 1.45% - - - 1.79% 0.92% 1.21%
Cost of Revenue to Revenue
42.22% 43.49% 43.64% 42.66% 42.35% 44.23% 44.05% 43.56% 43.57% 44.60% 44.09%
SG&A Expenses to Revenue
21.83% 22.41% 22.96% 22.69% 22.18% 21.63% 22.47% 21.96% 21.08% 20.71% 22.81%
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
38.38% 38.20% 40.71% 40.21% 41.40% 39.14% 40.94% 40.31% 38.57% 39.44% 40.73%
Earnings before Interest and Taxes (EBIT)
280 219 150 254 190 258 224 165 319 226 178
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
478 408 350 460 395 475 457 405 561 467 440
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
21.20 26.93 38.42 64.06 93.87 1,254.25 0.00 0.00 0.00 0.00 0.00
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)
2.65 2.84 3.05 3.15 3.63 4.12 4.51 5.82 5.02 4.03 4.70
Price to Earnings (P/E)
24.24 25.36 42.16 60.45 107.84 120.02 114.53 332.90 171.22 207.08 731.99
Dividend Yield
5.33% 4.90% 4.51% 4.35% 3.73% 3.23% 2.90% 2.24% 2.60% 3.33% 2.92%
Earnings Yield
4.13% 3.94% 2.37% 1.65% 0.93% 0.83% 0.87% 0.30% 0.58% 0.48% 0.14%
Enterprise Value to Invested Capital (EV/IC)
2.15 2.01 2.34 2.39 2.62 2.83 3.06 3.66 3.35 2.81 3.08
Enterprise Value to Revenue (EV/Rev)
4.71 5.44 5.19 5.33 5.79 6.37 6.75 8.07 7.27 6.43 7.13
Enterprise Value to EBITDA (EV/EBITDA)
12.82 14.61 15.49 16.79 19.69 21.39 21.97 27.89 23.54 21.33 24.51
Enterprise Value to EBIT (EV/EBIT)
21.46 23.97 27.54 31.52 39.05 42.19 42.35 57.68 46.25 43.17 51.75
Enterprise Value to NOPAT (EV/NOPAT)
25.71 29.74 32.00 35.47 41.80 46.55 50.30 74.58 58.93 58.63 104.39
Enterprise Value to Operating Cash Flow (EV/OCF)
25.89 28.06 26.46 27.54 28.52 32.24 33.27 39.84 37.34 31.89 36.53
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 691.03 11.91 13.69 0.00 17.70 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
14.44 21.02 21.61 27.37 30.62 64.22 248.30 -419.88 -60.57 -35.17 -31.70
Long-Term Debt to Equity
14.32 20.86 21.41 27.11 30.31 63.62 245.90 -415.60 -57.41 -33.43 -30.12
Financial Leverage
11.70 17.35 18.48 22.82 19.74 30.80 41.73 62.68 154.85 -120.60 -64.04
Leverage Ratio
18.41 21.78 25.51 30.92 29.97 40.87 60.51 89.71 221.74 -164.45 -86.71
Compound Leverage Factor
9.41 8.17 0.92 12.33 6.03 14.82 12.92 -11.58 86.44 -22.63 13.17
Debt to Total Capital
93.52% 95.46% 95.58% 96.47% 96.84% 98.47% 99.60% 100.24% 101.68% 102.93% 103.26%
Short-Term Debt to Total Capital
0.77% 0.72% 0.87% 0.89% 0.98% 0.92% 0.97% 1.02% 5.30% 5.09% 5.15%
Long-Term Debt to Total Capital
92.75% 94.74% 94.71% 95.58% 95.86% 97.55% 98.63% 99.22% 96.38% 97.84% 98.11%
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
0.84% 0.68% 0.89% 1.35% 1.45% 1.39% 1.42% 1.70% 2.05% 1.89% 1.82%
Common Equity to Total Capital
5.63% 3.86% 3.54% 2.17% 1.72% 0.14% -1.02% -1.94% -3.73% -4.82% -5.08%
Debt to EBITDA
5.64 7.00 6.41 6.87 7.40 7.56 7.24 7.73 7.23 7.89 8.33
Net Debt to EBITDA
5.57 6.93 6.32 6.77 7.26 7.45 7.16 7.63 7.15 7.81 8.21
Long-Term Debt to EBITDA
5.59 6.95 6.35 6.81 7.32 7.49 7.17 7.65 6.85 7.50 7.91
Debt to NOPAT
11.31 14.25 13.24 14.52 15.71 16.46 16.58 20.66 18.09 21.69 35.46
Net Debt to NOPAT
11.16 14.10 13.06 14.31 15.41 16.21 16.40 20.40 17.89 21.47 34.96
Long-Term Debt to NOPAT
11.22 14.15 13.12 14.39 15.55 16.30 16.42 20.45 17.15 20.62 33.69
Altman Z-Score
0.87 0.89 0.91 0.95 1.01 1.14 1.22 1.45 1.27 1.06 1.16
Noncontrolling Interest Sharing Ratio
10.16% 11.55% 16.03% 24.85% 24.37% 32.79% 50.51% 99.11% 278.58% -200.67% -104.66%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
0.81 0.80 0.78 0.81 0.78 0.86 0.79 0.75 0.55 0.62 0.63
Quick Ratio
0.69 0.66 0.65 0.67 0.66 0.72 0.66 0.61 0.47 0.52 0.54
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-996 -713 1,479 1,491 -765 1,461 -1,063 -1,094 -996 -1,489 -1,857
Operating Cash Flow to CapEx
161.41% 55.94% 94.68% 62.55% 121.48% 34.63% 96.40% 63.93% 71.22% 29.25% 68.60%
Free Cash Flow to Firm to Interest Expense
0.00 -5.20 10.26 0.00 0.00 8.88 -6.02 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense
0.00 0.94 2.20 0.00 0.00 0.79 2.17 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense
0.00 -0.74 -0.12 0.00 0.00 -1.49 -0.08 0.00 0.00 0.00 0.00
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.33 0.32 0.32 0.33 0.33 0.33 0.34 0.34 0.34 0.34 0.34
Accounts Receivable Turnover
4.78 4.62 4.56 4.64 4.50 4.62 4.74 4.97 4.82 4.86 4.84
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
1.04 1.03 1.02 1.01 0.96 0.95 0.94 0.92 0.88 0.85 0.83
Accounts Payable Turnover
5.22 4.73 2.40 2.54 4.67 4.70 4.99 5.04 4.43 4.47 4.81
Days Sales Outstanding (DSO)
76.39 79.00 80.08 78.65 81.08 78.99 77.03 73.48 75.71 75.15 75.37
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)
69.89 77.18 152.08 143.86 78.08 77.59 73.08 72.41 82.45 81.69 75.96
Cash Conversion Cycle (CCC)
6.50 1.83 -72.00 -65.21 3.00 1.40 3.94 1.07 -6.75 -6.54 -0.59
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
11,159 13,972 11,618 11,912 12,100 12,714 12,847 13,182 13,337 14,335 14,886
Invested Capital Turnover
0.48 0.38 0.42 0.43 0.47 0.42 0.48 0.48 0.48 0.46 0.46
Increase / (Decrease) in Invested Capital
1,214 905 -1,434 -1,277 941 -1,259 1,230 1,270 1,237 1,621 2,039
Enterprise Value (EV)
24,022 28,118 27,193 28,465 31,756 35,943 39,251 48,298 44,686 40,307 45,916
Market Capitalization
13,500 14,691 15,991 16,816 19,867 23,248 26,271 34,857 30,846 25,273 30,263
Book Value per Share
$2.19 $1.88 $1.43 $0.90 $0.72 $0.06 ($0.45) ($0.88) ($1.71) ($2.38) ($2.60)
Tangible Book Value per Share
($19.50) ($28.87) ($20.10) ($20.66) ($20.84) ($21.93) ($22.23) ($22.96) ($23.38) ($24.20) ($24.55)
Total Capital
11,301 14,119 11,767 12,082 12,323 12,905 12,992 13,350 13,493 14,490 15,104
Total Debt
10,569 13,478 11,247 11,656 11,933 12,707 12,940 13,382 13,719 14,914 15,596
Total Long-Term Debt
10,481 13,376 11,144 11,548 11,813 12,589 12,814 13,245 13,004 14,177 14,818
Net Debt
10,427 13,331 11,097 11,486 11,710 12,516 12,795 13,213 13,563 14,759 15,378
Capital Expenditures (CapEx)
228 230 335 352 368 376 396 396 606 675 547
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-425 -450 -498 -437 -603 -367 -463 -619 -837 -509 -542
Debt-free Net Working Capital (DFNWC)
-283 -304 -349 -266 -380 -175 -319 -451 -681 -354 -324
Net Working Capital (NWC)
-370 -406 -451 -374 -501 -294 -444 -587 -1,396 -1,091 -1,102
Net Nonoperating Expense (NNE)
92 126 44 123 147 125 132 209 135 117 225
Net Nonoperating Obligations (NNO)
10,427 13,331 11,097 11,486 11,710 12,516 12,795 13,213 13,563 14,759 15,378
Total Depreciation and Amortization (D&A)
198 188 201 206 205 217 232 240 243 241 262
Debt-free, Cash-free Net Working Capital to Revenue
-8.32% -8.71% -9.51% -8.18% -11.00% -6.50% -7.96% -10.34% -13.60% -8.12% -8.41%
Debt-free Net Working Capital to Revenue
-5.54% -5.88% -6.66% -4.99% -6.93% -3.10% -5.48% -7.53% -11.07% -5.64% -5.02%
Net Working Capital to Revenue
-7.26% -7.85% -8.62% -7.01% -9.14% -5.21% -7.64% -9.81% -22.70% -17.41% -17.10%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$0.42 $0.22 $0.00 $0.31 $0.10 $0.25 $0.12 ($0.11) $0.35 $0.05 ($0.15)
Adjusted Weighted Average Basic Shares Outstanding
290.81M 291.44M 291.83M 292.15M 291.94M 292.75M 293.34M 293.60M 293.37M 294.51M 295.36M
Adjusted Diluted Earnings per Share
$0.42 $0.22 $0.00 $0.31 $0.10 $0.25 $0.12 ($0.11) $0.35 $0.05 ($0.15)
Adjusted Weighted Average Diluted Shares Outstanding
292.44M 293.05M 293.53M 294.27M 293.97M 295.22M 295.84M 293.60M 296.23M 297.26M 295.36M
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
290.90M 291.62M 291.85M 291.99M 292.28M 293.13M 293.34M 293.46M 293.74M 295.04M 295.35M
Normalized Net Operating Profit after Tax (NOPAT)
228 211 180 246 222 236 202 205 270 164 216
Normalized NOPAT Margin
17.83% 16.03% 13.23% 17.70% 15.65% 15.97% 13.16% 13.19% 17.06% 10.32% 12.65%
Pre Tax Income Margin
11.18% 6.26% 0.40% 7.30% 2.69% 6.34% 3.12% -1.37% 7.86% 1.95% -1.58%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
0.00 1.60 1.04 0.00 0.00 1.57 1.27 0.00 0.00 0.00 0.00
NOPAT to Interest Expense
0.00 1.40 0.31 0.00 0.00 1.23 0.94 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense
0.00 -0.08 -1.29 0.00 0.00 -0.71 -0.97 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense
0.00 -0.28 -2.01 0.00 0.00 -1.05 -1.30 0.00 0.00 0.00 0.00
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
129.39% 124.55% 189.69% 257.91% 395.97% 378.60% 328.26% 720.63% 431.33% 667.30% 1,917.06%
Augmented Payout Ratio
130.19% 124.55% 189.69% 257.91% 396.18% 378.60% 328.26% 753.85% 450.50% 667.30% 1,917.06%

Key Financial Trends

Iron Mountain (NYSE: IRM) has shown notable financial developments over the past several quarters and years. Here are the key points observed from the analysis of recent financial statements up to Q2 2025:

  • Revenue Growth: Operating revenue increased steadily from approximately $1.28 billion in Q4 2022 to $1.71 billion in Q2 2025, highlighting positive top-line growth.
  • Gross Profit Expansion: Gross profit improved, reaching $957 million in Q2 2025, up from $739 million in Q4 2022, reflecting better operational efficiency or pricing power.
  • Operating Expenses Management: Although operating expenses have risen, IRM has maintained a gross profit margin that supports operational sustainability.
  • Strong Operating Cash Flow: Net cash from continuing operating activities was $372 million in Q2 2025, demonstrating healthy cash generation capacity.
  • Capital Investment: The company is investing significantly in property, plant, and equipment, with cash outflows of over $550 million in Q2 2025, which may support future growth or modernization.
  • Net Income Volatility: The company reported a net loss of $43 million in Q2 2025, reflecting challenges that may include higher expenses, restructuring, or non-operating costs.
  • High Debt Levels: Long-term debt remains elevated at approximately $14.8 billion as of Q2 2025, indicating high leverage which can impact financial flexibility.
  • Negative Equity Position: Total common equity is negative at around -$767 million in Q2 2025, which is due to accumulated other comprehensive loss and other equity adjustments, signaling shareholder equity erosion.
  • Significant Debt Repayment Outflows: Substantial repayments and issuances of debt (netting to positive financing cash flow albeit with large gross movements) indicate refinancing risks or reliance on debt markets.
  • Net Loss Trends in 2025: The shift from profitability in prior quarters (e.g., net incomes around $16 million in Q1 2025) to losses in Q2 2025 could point to emerging operational or market headwinds.

Summary: Iron Mountain has demonstrated solid revenue and gross profit growth alongside strong operating cash flow, supported by continued investment in fixed assets. However, rising net losses in recent quarters and elevated debt levels pose concerns for financial stability. Retail investors should monitor the company's ability to return to profitability and manage its leverage while assessing growth opportunities and cost controls.

08/09/25 11:14 PMAI Generated. May Contain Errors.

Frequently Asked Questions About Iron Mountain's Financials

When does Iron Mountain's fiscal year end?

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

How has Iron Mountain's net income changed over the last 10 years?

Iron Mountain's net income appears to be on an upward trend, with a most recent value of $183.67 million in 2024, falling from $328.75 million in 2014. The previous period was $187.26 million in 2023. See Iron Mountain's forecast for analyst expectations on what’s next for the company.

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's revenue changed over the last 10 years?

Over the last 10 years, Iron Mountain's total revenue changed from $3.12 billion in 2014 to $6.15 billion in 2024, a change of 97.3%.

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 235.1% increase since 2014.

How much cash does Iron Mountain have?

In the past 10 years, Iron Mountain's cash and equivalents has ranged from $125.93 million in 2014 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 10 years?

Over the last 10 years, Iron Mountain's book value per share changed from 4.42 in 2014 to -1.71 in 2024, a change of -138.8%.



This page (NYSE:IRM) was last updated on 8/9/2025 by MarketBeat.com Staff
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