Iron Mountain

Real Estate Other Specialized REITs Boston, Massachusetts Last filing Feb 12, 2026 · FY2025

                    Revenue
                    FY2025
                
$6.9B
                    3y CAGR +10.6%
                    
                    P72
                    
                    +12.2%
                    
                    Net income
                    FY2025
                
$152.3M
                    Net margin +2.2%
                    
                    P10
                    
                    -17.1%
                    
                    Total assets
                    FY2025
                
$21.1B
                    ROA +0.7%
                    
                    P13
                    
                    +12.9%
                    
                    Operating cash flow
                    FY2025
                
$1.3B
                    FCF margin -15.0%
                    
                    P21
                    
                    +12.0%

18 yrs · FY2008–FY2025 8 filed · 1 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

19 accounts · 5 years

Total assets $21.1B

Total liabilities ~$22.1B

Shareholders equity $-981.0M

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	-11.3%	-15.3%	-6.7%	-44.6%	—
Other Current Assets	+10.6%	+9.0%	+13.0%	+18.6%	—
Total Current Assets	+7.6%	+5.5%	+9.7%	+7.3%	—
Other Noncurrent Assets	+10.2%	+9.4%	+10.0%	+12.2%	—
Total Assets	+10.0%	+9.0%	+10.0%	+11.7%	—
Liabilities
Current Portion of Long Term Debt	-8.6%	+32.2%	-37.6%	-71.7%	—
Other Current Liabilities	+8.9%	+11.5%	+11.3%	+7.1%	—
Total Current Liabilities	+6.7%	+15.2%	+5.3%	-5.0%	—
Long Term Debt	+16.0%	+13.2%	+14.8%	+16.9%	—
Other Noncurrent Liabilities	+3.7%	+3.9%	+9.3%	+18.5%	—
Equity
Total Stockholders Equity	—	—	-50.3%	-25.6%	—
Preferred Stock	—	—	—	—	—
Common Stock	+0.5%	+0.4%	+0.4%	+0.3%	—
Additional Paid In Capital	+2.1%	+1.7%	+1.4%	+1.3%	—
Accumulated Other Comprehensive Income	—	—	—	—	—
Other Equity	—	—	—	—	—
Noncontrolling Interest	+295.0%	+462.3%	-66.5%	-88.8%	—
Temporary Equity and Other	-2.9%	+2.6%	+56.8%	+31.4%	—
Total Liabilitiesand Equity	+10.0%	+9.0%	+10.0%	+11.7%	—

Income Statement

Revenue, expense, and profitability

14 accounts · 5 years

Revenue $6.9B

Operating income $1.2B

Net income $152.3M

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	+11.3%	+11.0%	+10.5%	+13.6%	—
Expenses Depreciation and Amortization	+10.8%	+9.8%	+6.8%	+6.9%	—
Expenses Selling,General and Administrative	+8.1%	+9.4%	+10.0%	+11.5%	—
Expenses Other Operating Expenses	+14.5%	+14.5%	+14.7%	+13.0%	—
Other Income Expense Operating Income	+8.0%	+5.7%	+3.9%	+22.9%	—
Other Income Expense Interest Expense	—	—	—	—	—
Other Income Expense Other Income/expense	—	—	—	-63.8%	—
Other Income Expense Income Before Tax	-23.9%	-27.0%	-39.9%	+0.4%	—
Income Tax Income Tax Expense	-24.0%	-29.8%	-52.4%	-60.6%	—
net Income Other Items Below Tax	—	—	—	—	—
net Income net Income	-23.8%	-26.0%	-35.7%	+24.2%	—
Earnings Per Share Basic Eps	-25.1%	-26.9%	-36.5%	+23.1%	—
Earnings Per Share Diluted Eps	-25.0%	-26.7%	-36.2%	+22.6%	—
Earnings Per Share Weighted Average Shares Diluted	+0.6%	+0.6%	+0.5%	+0.5%	—

Cash Flow Statement

Operating, investing, and financing flows

15 accounts · 5 years

Operating cash flow $1.3B

Investing cash flow $-2.6B

Financing cash flow $1.3B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Cash From Operating Activities	+15.3%	+16.4%	+21.1%	+22.2%	—
Operating Activities net Income	-23.8%	-26.0%	-35.7%	+24.2%	—
Operating Activities Depreciation and Amortization	+11.0%	+10.0%	+6.7%	+7.0%	—
Operating Activities Stock Based Compensation	+23.1%	+24.6%	+10.0%	-6.8%	—
Operating Activities Other Non Cash Items	—	—	—	—	—
Investing Activities Capital Expenditures	—	—	—	—	—
Investing Activities Other Investing Activities	—	—	—	-94.5%	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—
Financing Activities Proceeds From Debt	+34.0%	+41.4%	+84.2%	+126.8%	—
Financing Activities Repayment of Debt	—	—	—	—	—
Financing Activities Dividends Paid	—	—	—	—	—
Financing Activities Other Financing Activities	—	—	—	—	—
Financing Activities net Cash From Financing Activities	—	—	—	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	—	—	—	—	—
Cash Reconciliation net Change In Cash	-51.5%	—	+26.3%	—	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	—	—	—	—	—
Operating margin	+16.9%	+16.4%	+16.8%	+20.6%	+19.0%
Net margin	+2.2%	+3.0%	+3.4%	+11.0%	+10.1%
FCF margin	-15.0%	-12.6%	-4.9%	-14.7%	-1.3%
Growth
Revenue CAGR (3y)	+10.6%	+11.0%	+9.7%	+6.2%	+2.1%
Returns
ROE	-15.5%	-36.5%	+88.5%	+88.3%	+52.9%
ROA	+0.7%	+1.0%	+1.1%	+3.5%	+3.1%
ROIC	+5.5%	+5.8%	+6.4%	+8.4%	+6.2%
Liquidity
Current ratio	0.74x	0.55x	0.78x	0.81x	0.71x
Quick ratio	—	—	—	—	—
Leverage
D/E	-22.53x	-38.20x	81.56x	24.35x	15.88x
Interest coverage	1.40x	1.40x	1.57x	2.15x	-2.04x
Efficiency
Asset turnover	0.33x	0.33x	0.31x	0.32x	0.31x
Cash conversion cycle	—	—	—	—	—

Valuation

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FY2025 fundamentals · no price

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Iron Mountain

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