— Know what they know.
/
Not Investment Advice

IRM

NYSE · USD
Iron Mountain Incorporated
Real Estate · REIT - Specialty
CEO William L. Meaney Employees 29,400 R&D / revenue 0.0%
Last price
$112.51−0.15%last session
Market cap
$33.5B
P/E (TTM)
80.4x
From 52w high
−16.5%
From 52w low
+44.7%
1-year return
+9.9%
RSI 14 · vs SMA200
46.1 · −0.0%
IS score
42.9/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

IRM   SPY   XLRE (sector ETF) · weekly closes
80100120Jan 26Apr 26Jul 26Oct 26SPY 116IRM 110XLRE 101

Score DNA

Each bar is a 0-100 score within the scored universe
33
Profitability
81
Growth
31
Value
95
Momentum
15
Risk (safety)
61
Quality
16
Balance sheet
69
Earnings quality

Flags

Strengths
None of the computed strength flags fires.
Warnings
▲ Altman distress zone▲ Negative free cash flow▲ Share count rising
Observations
Moat model: Weak, Switching CostsPiotroski 6 / 9Altman Z 1.2Beta 1.202 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
33 open-market sales, $34.9M
Form 144 notices (12m): 35, $117.6M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
0
No disclosed purchases
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+83
155 new holders, 64 closed
1,168 filers hold 87.7% · 446 added, 382 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+221
1,046 funds adding shares
825 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
67.5%
20-day avg 57.0%, 50-day avg 52.6%
Latest 10.5 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$6.9B
Revenue growth YoY+12.2%
Gross margin25.7%
Operating income$1.4B
Operating margin20.4%
Net income$144.6M
Net margin2.1%
EPS (diluted)$0.49
Cash flow
Operating cash flow$1.3B
Capital expenditure$2.3B
Free cash flow−$931.6M
FCF conversion (FCF / OCF)-69.5%
Stock-based compensation$140.3M
FCF less SBC−$1.1B
Buybacks$0
Dividends$919.4M
Balance sheet & returns
Cash & short-term investments$158.5M
Total debt$16.4B
Net debt$16.3B
Shareholders' equity−$644.9M
Goodwill & intangibles$6.6B
Debt / equity-15.31
ROE (TTM)-38.4%
ROIC (TTM)6.3%
Operating margin by fiscal year
19.0%FY202120.6%FY202216.8%FY202316.4%FY202416.9%FY2025
Revenue $4.5B (FY2021) to $6.9B (FY2025), a 11.3% CAGR.

Valuation

P/E (TTM)80.4x
EV / EBITDA21.2x
Price / sales4.43x
Price / FCFn/m
FCF yield-1.44%
Buyback yield0.00%
SBC / revenue1.8%
Price / bookn/m
Forward P/E FY202645.2x
Forward P/E FY202740.5x
Forward P/E FY202836.4x
Forward multiples divide today's price by Street EPS estimates. Street mean target $142.75 across 4 analysts last quarter is theirs, not ours.

IRM vs industry median

28 companies in REIT - Specialty
Gross margin 54.2% 64.8% Operating margin 18.8% 33.7% Net margin 5.5% 25.8% ROIC 6.3% 5.2%
IRM (TTM)Industry median Asset turnover 0.34 vs industry 0.13 · financial leverage -17.14

Earnings delivery

Next report 2026-11-05 · consensus EPS $0.61
92%
beat rate, 11 of 12 quarters
+3.8%
median EPS surprise
11
longest beat streak
-1+6+5+2+2+3+1+4+2+145+185+10
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-02 to 2026-08-05. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
IRM Iron Mountain Incorporated $33.5B80.4x-38.4%5.5%+12.2% +9.9%
CCI Crown Castle Inc. $35.9B33.3x-46.2%30.5%−23.2% −15.1%
SBAC SBA Communications Corporati $19.8B20.1x-20.7%27.8%+5.4% −4.7%
DLR Digital Realty Trust, Inc. $65.3B81.1x3.2%23.6%+18.7% +2.0%
LAMR Lamar Advertising Company $15.2B27.3x58.5%26.1%+4.4% +33.3%
WY Weyerhaeuser Company $14.1B29.7x5.0%8.7%−1.9% —
AMT American Tower Corporation $86.3B25.4x90.9%31.6%+6.7% —
EQIX Equinix, Inc. $97.3B63.2x10.8%18.2%+9.9% —
12-month window: SPY +15.9%, sector ETF XLRE +0.9%. Past returns describe history only.

Recent 8-K filings

2026-08-05Earnings Release; Exhibits
2026-06-26Material Agreement; Financial Obligation; Exhibits
2026-05-12Shareholder Vote; Other Events; Exhibits
2026-04-30Earnings Release; Exhibits
2026-03-09Other Events; Financial Statements and Exhibits
2026-02-12Results of Operations and Financial Condition; Financial Statements and Exhibits

Context

Shares outstanding297,702,812
Free float99.1%
Institutional ownership87.7%
Beta1.20
Dividend yield3.07%
Last dividend$0.86 on 2026-09-15
50 / 200-day average$117.02 / $113.76
Large-cap Real Estate median P/E26.2x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where IRM sits among 17 scored companies in REIT - Specialty (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureIRMIndustry medianIndustry percentileSector median
P/E (TTM) 80.0x 26.5x
92nd		 24.1x
PEG (P/E ÷ 3-yr EPS CAGR) 30.62 1.79
100th		 1.55
Price / sales 4.4x 6.9x
19th		 3.7x
Price / book —
Price / tangible book —
Price / free cash flow —
Price / operating cash flow 20.2x 16.8x
62nd		 12.3x
Enterprise value $52.9B $19.0B
75th		 $7.5B
EV / sales 7.0x 11.8x
19th		 9.4x
EV / EBITDA 21.0x 18.4x
62nd		 15.7x
EV / EBIT 36.2x 29.3x
56th		 27.2x
EV / free cash flow —
Earnings yield 1.2% 3.3%
25th		 3.2%
FCF yield -1.4% 4.6%
6th		 5.6%
Operating cash flow yield 4.9% 5.9%
38th		 7.9%
Graham number (per share) —

Profitability (TTM)

MeasureIRMIndustry medianIndustry percentileSector median
Gross margin 54.2% 34.9%
69th		 51.4%
EBITDA margin 33.3% 53.5%
20th		 54.9%
Operating margin 18.8% 24.0%
25th		 29.0%
EBIT margin 19.3% 20.6%
38th		 31.7%
Net margin 5.5% 15.6%
19th		 12.2%
NOPAT margin 16.2% 19.5%
19th		 25.5%
FCF margin -6.4% 28.0%
6th		 21.8%
Operating cash flow margin 21.9% 34.6%
19th		 33.4%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 19.2% 7.9%
88th		 6.6%
Stock comp / revenue 1.8% 1.5%
69th		 1.2%
Effective tax rate 13.8% 2.4%
81st		 1.9%

Returns on capital

MeasureIRMIndustry medianIndustry percentileSector median
ROE (on average equity) —
ROA 2.0% 3.8%
31st		 1.6%
ROIC 6.7% 5.4%
56th		 3.7%
ROCE 7.7% 6.2%
62nd		 4.4%
Return on tangible assets 6.9% 5.8%
56th		 3.8%
Cash ROIC (OCF / invested capital) 9.1% 6.8%
62nd		 5.7%
Gross profitability (GP / assets) 18.7% 7.6%
100th		 5.3%
ROIC, 3-yr average 2.9% 4.6%
31st		 2.4%
ROIC, 5-yr average —
ROE, 5-yr average —
Incremental ROIC 94.9% 4.6%
88th		 6.5%

Growth

MeasureIRMIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 17.4% 7.6%
69th		 8.4%
Revenue growth (QoQ) 4.8% 2.5%
56th		 2.2%
Revenue CAGR, 3 yr 13.0% 3.9%
88th		 5.8%
Revenue CAGR, 5 yr 12.0% 7.4%
80th		 9.5%
Gross profit CAGR, 3 yr 11.1% -3.9%
100th		 -0.8%
Operating income CAGR, 3 yr 12.8% 5.5%
67th		 3.0%
Net income growth (TTM YoY) 912.6% 46.5%
92nd		 21.3%
Net income CAGR, 3 yr 3.3% 12.3%
27th		 8.5%
EPS growth (TTM YoY) 897.5% 45.7%
92nd		 17.6%
EPS CAGR, 3 yr 2.6% 13.2%
27th		 5.7%
EPS CAGR, 5 yr -7.7% 7.8%
9th		 5.6%
FCF growth (TTM YoY) —
FCF CAGR, 3 yr —
Operating cash flow CAGR, 3 yr 17.2% 8.0%
88th		 3.7%
Book value CAGR, 3 yr —
Dividend CAGR, 3 yr 4.5% -0.1%
81st		 -1.2%
Sustainable growth rate —

Margin history & stability

MeasureIRMIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 55.6% 59.3%
38th		 59.1%
Operating margin, 3-yr average 17.1% 29.4%
19th		 28.6%
Net margin, 3-yr average 3.4% 13.0%
6th		 12.3%
FCF margin, 3-yr average -9.6% 24.6%
6th		 27.4%
Revenue stability (0-1) 0.97 0.76
88th		 0.82
Earnings stability (0-1) 0.34 0.36
44th		 0.36
Margin stability (0-1) 0.98 0.75
94th		 0.83

Liquidity (latest quarter)

MeasureIRMIndustry medianIndustry percentileSector median
Cash & short-term investments $204.8M $319.0M
44th		 $141.2M
Net cash (− = net debt) −$19.4B −$4.9B
19th		 −$3.3B
Working capital −$793.8M $17.8M
19th		 $19.5M
Current ratio 0.73 1.13
36th		 1.02
Quick ratio 0.73 1.13
36th		 1.02
Cash ratio (cash + ST investments / current liabilities) 0.07 0.58
7th		 0.36
Defensive interval (days) 230 days 673 days
0th		 554 days

Leverage & solvency (latest quarter)

MeasureIRMIndustry medianIndustry percentileSector median
Total debt $19.6B $5.4B
81st		 $3.5B
Debt / equity —
Net debt / equity —
Debt / assets 89.3% 58.2%
88th		 51.3%
Debt / capital —
Debt / EBITDA 7.79 6.98
69th		 6.47
Net debt / EBITDA 7.71 6.15
69th		 6.15
Interest coverage (EBIT / interest) 1.6x 2.4x
31st		 1.5x
Cash interest coverage 1.8x 2.0x
44th		 2.1x
Debt payback (years of OCF) 11.8 yrs 10.6 yrs
62nd		 8.9 yrs
Liabilities / assets 104.1% 62.0%
88th		 60.0%
IS credit model rating CCC — —
Implied credit spread (bps) 1,200 650
81st		 650

Efficiency

MeasureIRMIndustry medianIndustry percentileSector median
Asset turnover 0.36 0.17
81st		 0.12
Fixed asset turnover 0.60 0.39
69th		 0.90
Inventory turnover —
Receivables turnover 5.3 8.2
17th		 7.6
Days sales outstanding 69 days 26 days
87th		 37 days
Days inventory outstanding —
Days payables outstanding 79 days 23 days
81st		 53 days
Cash conversion cycle (days) −10 days −3 days
38th		 −6 days
Capex / revenue 28.3% 7.0%
88th		 4.4%
Capex / depreciation 2.02 0.45
94th		 0.32
Operating expense ratio 34.3% 23.2%
73rd		 30.9%

Cash flow & earnings quality

MeasureIRMIndustry medianIndustry percentileSector median
Operating cash flow / net income 3.95 1.61
92nd		 1.83
FCF / net income −1.15 1.12
0th		 1.43
FCF / operating cash flow -29.1% 81.8%
6th		 82.5%
Capex / operating cash flow 129.1% 18.2%
94th		 17.9%
Accruals ratio -5.9% -2.8%
6th		 -3.1%
Sloan accruals ratio -3.6% -3.8%
56th		 -3.3%
Earnings quality score (0-1) 0.75 0.88
15th		 1.00

Dividends & buybacks

MeasureIRMIndustry medianIndustry percentileSector median
Dividend yield 3.1% 4.4%
25th		 5.2%
Dividend per share (TTM) $3.46 $3.20
56th		 $1.21
Payout ratio (dividends / net income) 238.1% 114.9%
92nd		 110.2%
Dividends / FCF —
Dividend growth (YoY) 14.7% -0.0%
93rd		 2.3%
Buyback yield 0.0% 0.4%
6th		 0.1%
Shareholder yield (dividends + buybacks) 3.0% 4.7%
19th		 5.9%
Share count change (YoY) 1.5% 1.1%
56th		 0.5%
Buybacks, last 5 years $0 $42.7M
0th		 $15.9M

Scores & forensic checks

MeasureIRMIndustry medianIndustry percentileSector median
IS score 43 43
44th		 43
IS profitability 33 57
38th		 44
IS growth 81 62
94th		 58
IS value 31 50
0th		 53
IS momentum 95 80
100th		 77
IS risk (safety) 15 15
6th		 15
IS quality 61 65
31st		 59
IS balance sheet 16 36
6th		 35
IS earnings quality 69 76
19th		 72
IS cash flow 35 68
12th		 61
Piotroski F-score (0-9) 6 6
44th		 6
Altman Z-score 1.2 1.1
56th		 0.8
Beneish M-score −2.62 −2.63
56th		 −2.71
Ohlson O-score −6.91 −6.76
44th		 −6.91
IS credit score 20 33
19th		 34

Per share

MeasureIRMIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $1.40 $2.21
44th		 $0.78
Book value per share −$4.27 $13.10
12th		 $15.91
Tangible book per share −$24.84 $13.11
12th		 $16.11
Revenue per share $25.22 $9.59
88th		 $6.28
FCF per share −$1.60 $1.67
6th		 $1.49
Operating cash flow per share $5.52 $3.04
62nd		 $1.95
Cash per share $0.68 $0.73
44th		 $0.95

Size (TTM)

MeasureIRMIndustry medianIndustry percentileSector median
Market cap $33.5B $11.4B
75th		 $2.5B
Revenue $7.6B $2.3B
88th		 $956.7M
EBITDA $2.5B $1.2B
75th		 $399.5M
Net income $418.7M $472.0M
44th		 $109.6M
Free cash flow −$481.0M $264.1M
6th		 $157.8M
Total assets $22.0B $11.7B
81st		 $6.6B
Shareholders' equity −$1.3B $693.3M
12th		 $1.8B
Employees 29,400 1,844
100th		 307

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-06Samuels Theodore R. Ii
Director
 Award / grant 310——14,215
2026-10-02Samuels Theodore R. Ii
Director
 Award / grant 105——13,905
2026-10-02Simons Doyle
Director
 Award / grant 350——46,564
2026-10-01Meaney William L
Director, President and CEO
 Option exercise 38,474$37.00$1.4M38,474
2026-10-01Meaney William L
Director, President and CEO
 Open-market sale 13,358$109.57$1.5M25,116
2026-10-01Meaney William L
Director, President and CEO
 Open-market sale 10,808$110.56$1.2M14,308
2026-10-01Meaney William L
Director, President and CEO
 Open-market sale 14,308$111.18$1.6M0
2026-10-01Meaney William L
Director, President and CEO
 Option exercise 38,474$37.00$1.4M76,948
2026-10-01Mcintosh Greg W
EVP, Chief Commercial Officer
 Open-market sale 5,000$110.72$553,60070,634
2026-09-01Mcintosh Greg W
EVP, Chief Commercial Officer
 Open-market sale 5,000$115.60$578,00075,634
2026-09-01Kidd Mark
EVP, GM Data Centers & ALM
 Open-market sale 6,000$115.60$693,60095,507
2026-09-01Meaney William L
Director, President and CEO
 Option exercise 38,474$37.00$1.4M38,474

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAugSepOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired1620,435—
GiftDisposed11,600—
Open-market saleDisposed33287,521$34.9M
Option exerciseAcquired7237,683$8.8M
Option exerciseDisposed7237,683$8.8M
Tax withholdingDisposed1133$16,866
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 35 notices · 1,089,340 shares · $117.6M
FiledFilerShares proposedEst. proceeds
2026-10-01Meaney William L38,474$4.3M
2026-10-01Mcintosh Greg W5,000$553,600
2026-09-01Mcintosh Greg W5,000$578,000
2026-09-01Meaney William L38,474$4.4M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 1 trades (0 purchases) · Senate 5 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-02-04Markwayne MullinSenateSale$1,001 - $15,0002026-03-02
2026-01-29Ro KhannaHouseSale$1,001 - $15,0002026-02-10
2025-12-18Markwayne MullinSenateSale$1,001 - $15,0002026-01-13
2025-12-18Markwayne MullinSenateSale$15,001 - $50,0002026-01-13
2025-12-18Markwayne MullinSenateSale (Full)$1,001 - $15,0002026-01-12
2025-09-29Ro KhannaHousePurchase$1,001 - $15,0002025-10-03
2025-08-26Ro KhannaHouseSale$1,001 - $15,0002025-09-12
2025-07-25Ro KhannaHousePurchase$1,001 - $15,0002025-08-08
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.33,570,910$4.2B11.28%
VANGUARD PORTFOLIO MANAGEMENT LLC25,568,944$3.2B8.59%
VANGUARD CAPITAL MANAGEMENT LLC18,953,705$2.4B6.37%
STATE STREET CORP17,634,044$2.2B5.92%
COHEN & STEERS, INC.12,019,735$1.5B4.04%
GEODE CAPITAL MANAGEMENT, LLC8,649,249$1.1B2.91%
FMR LLC7,872,365$994.4M2.64%
DIMENSIONAL FUND ADVISORS LP4,625,684$584.3M1.55%
PRINCIPAL FINANCIAL GROUP INC4,373,424$552.4M1.47%
NORGES BANK4,214,697$532.4M1.42%
Invesco Ltd.4,065,649$513.5M1.37%
Legal & General Group Plc3,244,741$409.8M1.09%
DEUTSCHE BANK AG\3,027,599$382.4M1.02%
MORGAN STANLEY3,002,575$379.3M1.01%
GOLDMAN SACHS GROUP INC2,822,732$356.5M0.95%

Institutional ownership by quarter

2023-092026-0687.7%
% of shares held by 13F filers
2023-092026-061,168
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,16887.7%15544638264
2026-03-311,08585.0%18140034586
2025-12-311,00086.3%119323405105
2025-09-301,00984.0%7436938691
2025-06-301,04183.5%12139235563
2025-03-3199382.3%94346399144
2024-12-311,05979.6%140361404109
2024-09-301,04881.4%16532241065
2024-06-3095983.2%10332437363
2024-03-3193579.7%13131132068
2023-12-3188378.3%14127433963
2023-09-3081876.5%8828430867

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-05-07SCHEDULE 13G/ACohen & Steers Ireland Limited0.0%16,420
2026-04-30SCHEDULE 13GVanguard Capital Management7.3%21,872,303
2026-04-29SCHEDULE 13GVanguard Portfolio Management8.4%25,051,135
2026-03-27SCHEDULE 13G/AThe Vanguard Group0.0%0
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VGSLX1.87%$1.3B
VGSNX1.87%$1.3B
VNQ1.87%$1.3B
VITSX0.04%$994.2M
VTI0.04%$994.2M
VSMPX0.04%$994.2M

Share structure

Shares outstanding297,702,812
Float294,919,291
Free float99.1%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$4.5B$5.1B$5.5B$6.1B$6.9B
Cost of revenue$1.9B$2.2B$2.4B$2.7B$5.1B
Gross profit$2.6B$2.9B$3.1B$3.5B$1.8B
R&D$0$0$0$0$0
SG&A$1.0B$1.1B$1.2B$1.3B$1.4B
Operating income$854.2M$1.0B$921.8M$1.0B$1.4B
EBITDA$1.8B$1.9B$1.6B$1.9B$2.1B
Pretax income$629.0M$631.6M$227.2M$244.5M$211.2M
Income tax$176.3M$69.5M$39.9M$60.9M$58.9M
Net income$450.2M$557.0M$184.2M$180.2M$144.6M
EPS, diluted$1.55$1.90$0.63$0.61$0.49
Diluted shares291.0M292.4M294.0M296.2M297.8M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$255.8M$141.8M$222.8M$155.7M$158.5M
Receivables$961.4M$1.2B$1.3B$1.3B$1.4B
Inventory$0$0$0$0$0
Total current assets$1.4B$1.5B$1.7B$1.7B$1.9B
PP&E, net$7.0B$7.7B$9.0B$10.1B$12.0B
Goodwill & intangibles$5.6B$6.3B$6.3B$6.4B$6.6B
Total assets$14.5B$16.1B$17.5B$18.7B$21.1B
Accounts payable$369.1M$469.2M$539.6M$678.7M$710.7M
Total current liabilities$2.0B$1.9B$2.2B$3.1B$2.6B
Long-term debt$9.0B$10.5B$11.8B$13.0B$16.2B
Total liabilities$13.5B$15.4B$17.1B$18.9B$21.8B
Shareholders' equity$929.5M$732.0M$389.7M−$226.5M−$644.9M

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$452.7M$562.1M$187.3M$183.7M$152.3M
Depreciation & amortization$697.0M$745.6M$793.0M$926.5M$1.1B
Stock-based compensation$61.0M$56.9M$73.8M$118.1M$140.3M
Change in working capital−$131.7M−$252.4M−$40.6M−$72.4M−$60.5M
Operating cash flow$758.9M$927.7M$1.1B$1.2B$1.3B
Capital expenditure−$624.4M−$883.6M−$1.3B−$1.9B−$2.3B
Free cash flow$134.5M$44.1M−$231.5M−$657.2M−$931.6M
Investing cash flow−$473.3M−$1.7B−$1.4B−$2.1B−$2.6B
Net debt issued / repaid$543.1M$1.4B$1.2B$1.7B$2.4B
Buybacks$0$0$0$0$0
Dividends paid−$718.3M−$724.4M−$737.6M−$789.5M−$919.4M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin58.0%57.1%57.0%56.2%55.4%
Operating margin19.0%20.6%16.8%16.4%16.9%
Net margin10.0%10.9%3.4%2.9%2.1%
FCF margin3.0%0.9%-4.2%-10.7%-13.5%
ROE45.2%74.6%43.4%-123.6%-19.5%
ROIC5.0%6.8%5.1%4.8%4.7%
ROA3.1%3.6%1.1%1.0%0.7%
Debt / equity13.6720.8769.87-32.54-19.42
Interest coverage2.5x2.2x1.4x1.3x1.3x
Current ratio0.710.810.780.550.74
Revenue growth+8.3%+13.6%+7.4%+12.2%+12.2%
EPS growth+30.2%+23.3%−67.2%−2.6%−20.3%
P/E at year end29.1x23.6x105.2x166.8x171.2x
EV / EBITDA at year end14.1x14.4x21.0x24.1x19.8x
FCF yield at year end1.03%0.34%-1.20%-2.19%-3.76%
Dividend payout159.6%130.1%400.4%438.2%635.9%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Global Records and Information Management Business$1.5B$4.3B$4.7B$5.0B$5.3B
Global Data Center Business$326.9M$401.1M$495.0M$620.0M$803.4M

Revenue by region · FY2025

UNITED STATES$4.6B · 86%
UNITED KINGDOM$472.6M · 9%
CANADA$302.4M · 6%

Street estimates by fiscal year

Next report 2026-11-05 · consensus EPS $0.61 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$8.0B$8.0B – $8.1B$2.49$2.49 – $2.49545.2x
2027$8.8B$8.7B – $8.8B$2.78$2.75 – $2.80540.5x
2028$9.5B$8.5B – $9.9B$3.09$2.02 – $3.74536.4x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-08-05$0.54$0.60+10.5%$2.0B$2.0B+3.1%
2026-04-30$0.50$1.43+185.4%$1.9B$1.9B+4.0%
2026-02-12$0.59$1.44+144.9%$1.8B$1.8B+2.0%
2025-11-05$1.29$1.32+2.3%$1.8B$1.8B−2.7%
2025-08-06$1.19$1.24+4.2%$1.8B$1.7B−2.7%
2025-05-01$1.16$1.17+0.9%$1.7B$1.6B−4.6%
2025-02-13$1.20$1.24+3.3%$1.6B$1.6B−2.5%
2024-11-06$1.11$1.13+1.8%$1.6B$1.6B−2.6%
2024-08-01$1.06$1.08+1.9%$1.5B$1.5B+2.0%
2024-05-02$1.05$1.10+4.8%$1.5B$1.5B+1.6%
2024-02-22$1.05$1.11+5.7%$1.4B$1.4B−2.0%
2023-11-02$1.00$0.99−1.0%$1.4B$1.4B−1.8%
2023-08-03$0.93$0.94+1.1%$1.4B$1.4B+0.3%
2023-05-04$0.93$0.97+4.3%$1.3B$1.3B−0.2%
2023-02-23$0.94$0.98+4.3%$1.3B$1.3B−2.8%
2022-11-03$0.96$0.98+2.1%$1.3B$1.3B−2.0%
2022-08-04$0.92$0.93+1.1%$1.3B$1.3B−1.1%
2022-04-28$0.70$0.91+30.0%$1.2B$1.2B+1.0%
2022-02-24$0.71$0.74+4.2%$1.1B$1.2B+1.1%
2021-11-04$0.70$0.72+2.9%$1.1B$1.1B+0.2%
2021-08-05$0.64$0.85+32.8%$1.1B$1.1B−0.0%
2021-05-06$0.64$0.81+26.6%$1.1B$1.1B+1.0%
2021-02-24$0.60$0.66+10.0%$1.0B$1.1B+1.7%
2020-11-05$0.55$0.61+10.9%$787.9M$1.0B+31.6%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.206-150.306-220.306-290.407-060.407-130.307-200.307-270.408-030.208-100.208-170.208-240.308-31
Week ofNotionalSharesTrades
2026-08-31$277.3M2,434,67652,563
2026-08-24$235.3M1,946,98543,317
2026-08-17$206.9M1,662,72646,356
2026-08-10$237.5M1,914,99143,517
2026-08-03$416.5M3,364,31165,113
2026-07-27$327.0M2,627,48358,663

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1567.5%
DateShort shareShort volumeTotal volume
2026-10-1567.5%351,889521,324
2026-10-1477.1%292,155379,067
2026-10-1366.6%278,690418,462
2026-10-1271.3%226,529317,729
2026-10-0958.7%261,814445,845
2026-10-0879.9%606,709759,213
2026-10-0759.6%287,196482,247
2026-10-0653.8%252,026468,305
2026-10-0568.5%364,240531,855
2026-10-0258.3%355,174609,545
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+1.1Jan+0.9Feb+2.5Mar+3.0Apr+0.9May+0.7Jun+2.1Jul+0.9Aug-0.3Sep+1.5Oct-0.3Nov+2.8Dec
MonthAvg returnUp yearsYears
Jan+1.1%50%20
Feb+0.9%50%20
Mar+2.5%52%21
Apr+3.0%65%20
May+0.9%45%20
Jun+0.7%60%20
Jul+2.1%60%20
Aug+0.9%65%20
Sep−0.3%45%20
Oct+1.5%60%20
Nov−0.3%60%20
Dec+2.8%60%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1446.1
MFI40.2
ADX19.1
Stochastic %K / %D40.8 / 47.1
Williams %R-51.0
CCI-35
TSI / signal-6.7 / -8.6
Chaikin money flow0.07
ATR$3.34
Bollinger width7.5%
Volume vs 20-day avg0.97x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$113.57 (−0.9%)
SMA 50$116.35 (−3.3%)
SMA 200$112.53 (−0.0%)
EMA 21$113.71 (−1.1%)
EMA 50$115.72 (−2.8%)
EMA 200$112.62 (−0.1%)
Bollinger upper$117.85 (−4.5%)
Bollinger lower$109.29 (+2.9%)
Parabolic SAR$117.22 (−4.0%)
Open the live chart, 110+ indicators

About Iron Mountain Incorporated

Established in 1951, Iron Mountain Incorporated (NYSE: IRM) has become the world's foremost authority in storage and information management solutions. More than 225,000 organizations globally trust Iron Mountain with their critical assets. With an extensive physical infrastructure spanning over 90 million square feet, the company operates approximately 1,450 facilities in around 50 countries. Within this vast network, Iron Mountain safeguards billions of valued items, including vital corporate records, highly confidential digital assets, and invaluable cultural and historical artifacts. Their comprehensive suite of offerings encompasses secure document archiving, robust information governance, digital transformation initiatives, confidential destruction services, along with advanced data centers, cloud computing solutions, and specialized art storage and logistics. These services empower clients to mitigate costs and risks, ensure regulatory compliance, facilitate swift disaster recovery, and enable a more efficient, digital-first operational model.

https://www.ironmountain.com

Key executives

NameTitlePayBorn
William L. Meaney MSIAPresident, Chief Executive Officer & Director$3.5M1960
Mark KiddExecutive Vice President and GM of Iron Mountain Data Centers & Asset Lifecycle Management$2.0M1981
Barry A. HytinenExecutive Vice President & Chief Financial Officer$1.8M1975
Greg W. McIntoshExecutive VP & Chief Commercial Officer$1.2M1973
Mithu BhargavaExecutive Vice President & GM for digital solutions$911,0731979
Garry WatzkeSenior Vice President——
Jemma JohnsExecutive Vice President & Chief Human Resources Officer—1974
Mark Andrew RupeSenior Vice President & Head of Investor Relations——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
William L. Meaney President and Chief Executive Officer2020$1.2M$7.9M$1.8M$12.3M
Barry Hytinen Executive Vice President and Chief Financial Officer2020$705,482$4.2M$790,000$7.1M
Ernest Cloutier Executive Vice President and General Manager, Global Records and Information Management2020$557,695$1.5M$601,000$4.0M
Deirdre Evens Executive Vice President and General Manager, Records and Information Management2020$513,464$1.0M$416,000$2.0M
John Tomovcsik Executive Vice President and Chief Operating Officer2020$513,464$1.0M$416,000$2.0M

Employees

26k201825k201924k202025k202126k202227k202329k202429k2025

Dividends

Ex-dateAmountPaid
2026-09-15$0.8642026-10-02
2026-06-15$0.8642026-07-06
2026-03-16$0.8642026-04-03
2025-12-15$0.8642026-01-06
2025-09-15$0.7852025-10-03
2025-06-16$0.7852025-07-03
2025-03-17$0.7852025-04-04
2024-12-16$0.7152025-01-07

Moat model

Weak · Switching Costs · 2026-06-30
Cost advantage51
Intangibles25
Switching costs66
Network effect60
Efficient scale63
Our component scores (0-100) and overall 51.4; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

Sign in to InsiderStreet

You'll also get our free weekly newsletter with
smart money signals, market insights, and alpha ideas.
Unsubscribe anytime.

For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms