Iron Mountain Incorporated (IRM) Stock Analysis
Real Estate · REIT - Specialty · NYSE
Iron Mountain Incorporated (IRM) posted $6.90B in revenue for fiscal 2025 (up 12.2% year over year), at a 2.1% net margin, and has compounded revenue about 10.7%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Iron Mountain Incorporated
Iron Mountain Incorporated has grown revenue from $3.51B to $6.90B over the last 10 fiscal years, compounding about 10.7% a year. The most recent year was up 12.2%, so growth is actually accelerating.
Net margin sits at 2.1%, down 0.8 points year over year. It carries about $16.43B of total debt.
The one thing worth a second look in the filings is heavy debt load.
Synthesised from Iron Mountain Incorporated's SEC filings — descriptive, not advice. Ask the analyst your own question →
Iron Mountain Incorporated revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.51B | $3.85B | $4.23B | $4.26B | $4.15B | $4.49B | $5.10B | $5.48B | $6.15B | $6.90B |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | $107.23M | $171.72M | $355.13M | $268.31M | $343.10M | $452.73M | $556.98M | $184.23M | $180.16M | $144.59M |
| Net margin | 3.1% | 4.5% | 8.4% | 6.3% | 8.3% | 10.1% | 10.9% | 3.4% | 2.9% | 2.1% |
Source: Iron Mountain Incorporated SEC filings (10-K). 18 years of history available in the interactive view.
Iron Mountain Incorporated: 2 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Heavy debt loadTotal debt of $16864.1M is 12.6× last year's operating cash flow — it would take years of cash flow to clear.
- Net margin shrinkingNet margin fell from 10.9% to 2.1% over ~3 years — profitability is compressing.
Explore 18 years of Iron Mountain Incorporated financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
Open the interactive view — freeOr start a 7-day free trial to track IRM in your portfolio →
Iron Mountain Incorporated financial history by metric
Compare Iron Mountain Incorporated with peers
About Iron Mountain Incorporated
Iron Mountain Incorporated is trusted by more than 240,000 customers in 61 countries, including approximately 95% of the Fortune 1000, to help unlock value and intelligence from their assets through services that transcend the physical and digital worlds. Our broad range of solutions address their information management, digital transformation, information security, data center and asset lifecycle management needs. Iron Mountain Incorporated is based in Portsmouth, New Hampshire. Iron Mountain Incorporated was founded in 1951 and is incorporated in Delaware and is based in Portsmouth, New Hampshire.
Iron Mountain Incorporated — frequently asked questions
What is Iron Mountain Incorporated's revenue?
Iron Mountain Incorporated (IRM) reported revenue of $6.90B for fiscal year 2025, up 12.2% from the prior year, according to its SEC filings.
Is Iron Mountain Incorporated profitable?
Yes. IRM earned net income of $144.59M in fiscal 2025, a net margin of 2.1%.
What is IRM's P/E ratio?
Iron Mountain Incorporated trades at a price-to-earnings ratio of about 133.0 based on the latest data in our nightly-refreshed cache.
How fast is Iron Mountain Incorporated growing?
IRM's revenue grew at roughly 10.7% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Iron Mountain Incorporated have?
As of fiscal year 2025, IRM carried roughly $16.43B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Iron Mountain Incorporated's market cap?
Iron Mountain Incorporated (IRM) has a market capitalization of about $36.39B, based on the latest data in our nightly-refreshed cache.
When does Iron Mountain Incorporated's fiscal year end?
IRM's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
Where does this data come from?
All figures are computed from Iron Mountain Incorporated's official SEC filings (10-K and 10-Q), covering 18 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.