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Iron Mountain IRM Free cash flow margin

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Other financials

Income statement

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Revenue$2.0B+18.5%
Gross profit$1.1B+11.8%
Operating income$373.5M+43.7%
Net income$106.1M+345%
EPS (diluted)$0.34+327%

Balance sheet

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Cash & equivalents$204.8M-6.1%
Total debt$20.4B+10.3%
Total equity-$1.3B-66.9%
Total assets$22.0B+8.8%

Cash flow

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Operating cash flow$549.3M+46.4%
CapEx$588.2M+5.6%
Free cash flow-$38.9M+78.6%

Valuation

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Market cap$37.82B+42.4%
Enterprise value$58.06B+29.4%
P/E87.1×-504×
P/S+0.9×

Profitability

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Gross margin54.2%-1.8pp
Operating margin18.8%+2.5pp
Net margin5.7%+5.0pp

Returns & leverage

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Return on equity70.5%-19.4pp
Debt / equity855.6×+830×
Current ratio0.7×+0.1×

Where this comes from

Calculated from Iron Mountain’s reported figures.

Based on trailing twelve months.

The source filing: Iron Mountain’s 10-Q, filed August 5, 2026. Open the filing →

Filed
Aug 5, 2026, 4:13 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001020569-26-000071

FAQ

What is Iron Mountain's free cash flow margin?
Iron Mountain (IRM) reported free cash flow margin of -6.5% in Q2 2026.
How has Iron Mountain's free cash flow margin changed year-over-year?
Iron Mountain's free cash flow margin increased by 57.7% year-over-year, from -15.3% to -6.5%.
What is the long-term trend for Iron Mountain's free cash flow margin?
Over 3 years (2020 to 2025), Iron Mountain's free cash flow margin has grown at a 0.6% compound annual growth rate (CAGR), from 13.2% to -13.5%.
What does free cash flow margin mean?
Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.

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