Income StatementBalance SheetCash FlowSegments
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Iron Mountain Cash Flow Statement

Operating, investing, and financing cash movements

Iron Mountain generated $1.5B in operating cash flow over the trailing twelve months. After $2.1B in capital expenditures, free cash flow was -$633.6M. Free cash flow increased 0.2% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$1.5BNet Cash From Investing (TTM)-$2.3BNet Cash From Financing (TTM)$960.3MCapital Expenditures (TTM)$2.1BDepreciation And Amortization Cf (TTM)$760.6MNet Change In Cash (TTM)$26.7M
Latest FilingQ1 2026
Report Date2026-04-30
Market Cap$38.0B
P/E Ratio133.35
ROE-29.79%

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Payment for contingent consideration liability (financing)$98.0K$240.2M$0.0$0.0$463.0K$6.4M
Payment for Contingent Consideration (Financing)$98.0K$240.2M$0.0$0.0$463.0K$6.4M
Payment for Contingent Consideration (Financing)$98.0K$240.2M$0.0$0.0$463.0K$6.4M
Proceeds from issuance of debt$4.7B$3.4B$5.6B$4.6B$3.5B$4.6B
Repayments of debt$5.5B$2.3B$5.1B$5.4B$3.3B$3.9B
Distributions to noncontrolling interests$739.0K$2.8M$723.0K$3.0M$6.4M$855.0K
Dividends paid$210.0M$223.5M$231.8M$232.0M$232.2M$275.6M
Payments For Stock Plans—$63.7M-$10.6M-$6.7M—$101.1M
Proceeds from issuances of debt$4.7B$3.4B$5.6B$4.6B$3.5B$4.6B
Other, net-$17.0M$64.0K-$3.0M-$4.9M-$4.9M-$2.9M
Repayments of Debt$5.5B$2.3B$5.1B$5.4B$3.3B$3.9B
Payment of Deferred Purchase Consideration$98.0K$240.2M$0.0$0.0$463.0K$6.4M
Noncontrolling interest transactions and other-$17.0M$64.0K-$3.0M-$4.9M-$4.9M-$2.9M
Net cash from financing activities$237.5M$578.8M$304.0M$318.3M$66.7M$271.2M
Other financing activities$98.0K$240.2M$0.0$0.0$463.0K$6.4M
Noncontrolling Interests Activity and Other-$17.0M$64.0K-$3.0M-$4.9M-$4.9M-$2.9M

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$4.0M$35.1M-$704.0K$67.3M$0.0$0.0
Capital expenditures$617.6M$674.8M$556.8M$523.9M$516.2M$518.0M
Contract costs-$28.4M-$31.5M———-$13.5M
Payments to Acquire Interest in Joint Venture$0.0$16.7M$26.8M-$276.0K$0.0$1.0M
Investments in unconsolidated joint ventures$0.0$16.7M$26.8M-$276.0K$0.0$1.0M
Net cash from investing activities-$694.9M-$766.8M-$584.0M-$617.4M-$605.9M-$531.5M
Proceeds from sale of businesses$11.6M$190.0K$9.9M$2.8M$766.0K$4.3M
Purchases of intangible assets—$8.9M$980.0K$11.3M$54.3M$3.2M

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in other liabilities$141.0M-$50.0M$141.7M-$94.7M$205.1M-$69.6M
Deferred income taxes-$32.4M-$6.4M$8.9M-$12.2M-$37.9M$2.3M
Depreciation and amortization$162.4M$162.4M$180.6M$189.5M$198.4M$192.1M
Gain (Loss) on Sale of Assets and Asset Impairment Charges—-$5.6M$962.0K-$3.4M-$16.7M-$7.6M
Net cash from operating activities$431.6M$197.3M$375.1M$267.6M$500.0M$338.6M
Net income$105.7M$16.2M-$43.3M$86.2M$93.1M$149.0M
Revenue reduction associated with amortization of customer inducements and data center above- and below-market leases$1.2M$1.3M$1.7M$1.5M$1.7M$1.5M
Business Combination, Contingent Consideration Arrangements, Gain (Loss) On Remeasurement Of Contingent Consideration, Liability-$7.4M$0.0———-$17.8M
Foreign Currency Transaction Gain (Loss), Unrealized and Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by Used in Operating Activities, Other—$20.6M$25.7M$879.0K$901.0K-$8.4M
Increase Decrease In Operating Assets$32.6M$56.1M$79.2M$20.6M$106.8M$65.9M
Stock-based compensation$44.6M$26.1M$60.4M$32.1M$21.7M$28.3M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow-$186.0M-$477.5M-$181.6M-$256.3M-$16.2M-$179.5M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash—-$9.7M-$32.5M$8.8M$0.0$13.9M
Contingent consideration (receivable) payable - financing activities$98.0K$240.2M$0.0$0.0$463.0K$6.4M
Net increase (decrease) in cash-$12.8M-$378.0K$62.7M-$22.8M—$92.2M
Deferred Purchase Obligations and Other Deferred Payments$8.0M$2.9M$720.0K$24.5M$11.8M$0.0
Increase Decrease In Operating Liabilities$141.0M-$50.0M$141.7M-$94.7M$205.1M-$69.6M
Noncash Investing And Financing Activities, Financing Leases And Other—$52.3M$89.5M$51.2M—$38.5M

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income taxes paid$22.6M$27.8M$32.3M$29.7M$31.8M$26.4M
Interest paid$126.4M$267.2M$119.2M$325.1M$113.1M$341.8M