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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)-$5.2M
Latest FilingQ1 2026
Report Date2026-04-30
Market Cap$37.2B
P/E Ratio130.66
ROE70.48%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$4M$35.1M—$67.3M—$0
Capital expenditures$617.6M$674.8M$556.8M$523.9M$516.2M$518M
Contract costs-$28.4M-$31.5M———-$13.5M
Payments to Acquire Intangible Assets$56.6M$8.9M$980K$11.3M$54.3M$3.2M
Payments to Acquire Interest in Joint Venture—$16.7M$26.8M——$1M
Proceeds from disposition of property, plant and equipment/other$11.6M$190K$9.9M$2.8M$766K$4.3M
Investments in unconsolidated joint ventures—$16.7M$26.8M——$1M
Net cash from investing activities-$694.9M-$766.8M-$584M-$617.4M-$605.9M-$531.5M
Proceeds from sale of businesses$11.6M$190K$9.9M$2.8M$766K$4.3M
Purchases of intangible assets$56.6M$8.9M$980K$11.3M$54.3M$3.2M

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in other liabilities$141M-$50M$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
Net cash from operating activities$431.6M$197.3M$375.1M$267.6M$500M$338.6M
Net income$105.7M$16.2M-$43.3M$86.2M$93.1M$149M
Amortization$78.9M$77.6M$79.8M$81.5M$87.4M$83.8M
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———-$17.8M
Depreciation$162.4M$162.4M$180.6M$189.5M$198.4M$192.1M
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$879K$901K-$8.4M
Gain (Loss) on Sale of Assets and Asset Impairment Charges—-$5.6M$962K-$3.4M-$16.7M-$7.6M
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

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
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$739K$2.8M$723K$3M$6.4M$855K
Dividends paid$210M$223.5M$231.8M$232M$232.2M$275.6M
Payments For Stock Plans—$63.7M———$101.1M
Payments to Noncontrolling Interests$739K$2.8M$723K$3M$6.4M$855K
Proceeds from issuances of debt$4.7B$3.4B$5.6B$4.6B$3.5B$4.6B
Other, net-$17M$64K-$3M-$4.9M-$4.9M-$2.9M
Repayments of Debt$5.5B$2.3B$5.1B$5.4B$3.3B$3.9B
Net cash from financing activities$237.5M$578.8M$304M$318.3M$66.7M$271.2M
Other financing activities$98K$240.2M——$463K$6.4M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow-$186M-$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——$13.9M
Net increase (decrease) in cash-$12.8M-$378K$62.7M——$92.2M
Deferred Purchase Obligations and Other Deferred Payments$8M$2.9M$720K$24.5M$11.8M$0
Increase Decrease In Operating Liabilities$141M-$50M$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
Income Taxes Paid, Net$22.6M$27.8M$32.3M$29.7M$31.8M$26.4M