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IRON MOUNTAIN INC (IRM)

As-reported financials and SEC filings for IRON MOUNTAIN INC. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About IRON MOUNTAIN INC

Iron Mountain Inc provides information management services globally, serving over 240,000 customers in 61 countries. Its main offerings include physical records management, digital solutions, data center services, and asset lifecycle management for commercial, legal, financial, healthcare, technology, and government sectors. The company operates data centers, secure shredding, media and archive services, and IT asset disposition, focusing on security, compliance, and digital transformation.

Snapshot

Revenue
$6.90B
Revenue growth (YoY)
12.2%
Net income
$152.3M
Diluted EPS
$0.49
Gross margin
Operating margin
16.9%
Net margin
2.2%
FCF margin
-13.5%
ROE
net income / fiscal-year-end equity
P/E
82.3×
trailing when available, otherwise FY EPS
Market cap
$34.30B
Long-term debt / equity
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Iron Mountain

  • Revenue grew 12.2% to $6.9B in FY2025, in line with the 12.2% the year before.
  • Operating margin is 16.9% in FY2025, -2.2 pp against 19.0% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $2.0B, up 18.5% from Q2 FY2025.
  • Free cash flow was negative $932M in FY2025.
  • Net income fell 17.1% to $152M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Iron Mountain’s fundamentals sit among the 165 REITs. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin16.9%
33rd percentile of 81
Net margin2.2%
33rd percentile of 156
FCF margin-13.5%
12th percentile of 27
Revenue growth (YoY)+12.2%
83rd percentile of 161
P/E82.3×
84th percentile of 109
Short interest3.90d
38th percentile of 152

Iron Mountain’s FCF margin of -13.5% ranks in the 12th percentile of the 27 REITs reporting it.

No reported insider purchases (code P) in the last 90 days; 18 insider sales totaling $18.1M. For context, about 14% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 1 of the superinvestors we track (plus 7 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
1
+7 quant / multi-strat
Initiated / added
4
1 new, 3 added
Reduced / exited
5
4 trimmed, 1 exited
Combined position
$374.9M
reported long value
InvestorAs ofPosition valueSharesChange
AQR Capital ManagementquantQ2 2026$266.5M2.1MAdded
Citadel AdvisorsquantQ2 2026$43.3M343.2KReduced
Millennium ManagementquantQ2 2026$19.8M157.1KReduced
Point72 Asset ManagementquantQ2 2026$15.6M123.3KReduced
D. E. ShawquantQ2 2026$13.9M109.8KNew
Two Sigma InvestmentsquantQ2 2026$8.3M65.9KReduced
Gotham Asset ManagementQ2 2026$6.5M51.2KAdded
Renaissance TechnologiesquantQ2 2026$972,5877.7KAdded

No longer held by: Bridgewater Associates (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
18
$18.1M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-09-01
filed 2026-09-02
Meaney William LPresident and CEOSell21.0K$114.14$2.4M
2026-09-01
filed 2026-09-02
Meaney William LPresident and CEOSell11.3K$113.45$1.3M
2026-09-01
filed 2026-09-02
Meaney William LPresident and CEOSell6.1K$115.00$702K
2026-09-01
filed 2026-09-02
Kidd MarkEVP, GM Data Centers & ALMSell6.0K$115.60$694K
2026-09-01
filed 2026-09-02
McIntosh Greg WEVP, Chief Commercial OfficerSell5.0K$115.60$578K
2026-09-01
filed 2026-09-02
Meaney William LPresident and CEOSell89$116.00$10K
2026-08-07
filed 2026-08-10
Meaney William LPresident and CEOSell18.8K$121.10$2.3M
2026-08-07
filed 2026-08-10
Meaney William LPresident and CEOSell16.8K$122.11$2.0M
2026-08-07
filed 2026-08-10
Kidd MarkEVP, GM Data Centers & ALMSell6.0K$122.70$736K
2026-08-07
filed 2026-08-10
Meaney William LPresident and CEOSell2.9K$122.75$357K
2026-08-06
filed 2026-08-10
McIntosh Greg WEVP, Chief Commercial OfficerSell6.8K$127.13$869K
2026-08-06
filed 2026-08-10
McIntosh Greg WEVP, Chief Commercial OfficerSell5.0K$127.13$636K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
7.1M
settled 2026-08-14
Change vs prior
-15.2%
vs previous settlement
Days to cover
3.90
at avg daily volume
Avg daily volume
1.8M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-147.1M-15.2%3.90
2026-07-318.4M+1.5%4.47
2026-07-158.3M+10.7%3.41
2026-06-307.5M-7.6%4.03
2026-06-158.1M+10.5%6.22
2026-05-297.3M-1.0%5.99
2026-05-157.4M-3.5%4.36
2026-04-307.6M-4.7%3.89

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$6.90B$6.15B$5.48B$5.10B$4.49B
Gross profit
Operating income$1.16B$1.01B$921.8M$1.05B$854.2M
Net income$152.3M$183.7M$187.3M$562.1M$452.7M
Diluted EPS$0.49$0.61$0.63$1.90$1.55

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$158.5M$155.7M$222.8M$141.8M$255.8M
Current assets$1.93B$1.69B$1.74B$1.55B$1.44B
Total assets$21.13B$18.72B$17.47B$16.14B$14.45B
Current liabilities$2.62B$3.09B$2.24B$1.92B$2.02B
Long-term debt$16.22B$13.00B$11.81B$10.48B$8.96B
Total liabilities$21.83B$19.02B$17.26B$15.50B$13.59B
Total equity$-709.3M$-304.7M$211.8M$636.8M$857.1M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$1.34B$1.20B$1.11B$927.7M$758.9M
Capital expenditure$2.27B$1.79B$1.34B$875.4M$611.1M
Free cash flow$-931.6M$-594.9M$-225.7M$52.3M$147.8M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$2.03B18.5%$106.1M$0.34
Q1 FY2026$1.94B21.6%$149.0M$0.48
Q4 FY2025$1.84B16.6%$93.1M$0.31
Q3 FY2025$1.75B12.6%$86.2M$0.28
Q2 FY2025$1.71B11.6%$-43.3M$-0.15
Q1 FY2025$1.59B7.8%$16.2M$0.05
Q4 FY2024$1.58B11.4%$105.7M$0.36
Q3 FY2024$1.56B12.2%$-33.7M$-0.11

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorReal Estate
SIC industryReal Estate Investment Trusts
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2019
SEC CIK1020569

Selected SEC filings

10-K2026-02-12
View on EDGAR →
10-K2025-02-14
View on EDGAR →
10-Q2026-08-05
View on EDGAR →
10-Q2026-04-30
View on EDGAR →
10-Q2025-11-05
View on EDGAR →
10-Q2025-08-06
View on EDGAR →
8-K2026-08-05
View on EDGAR →
8-K2026-06-26
View on EDGAR →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.