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Iron Mountain Income Statement

Revenue, expenses, and profitability over time

Iron Mountain generated $7.2B in trailing twelve-month revenue, up 0.2% year-over-year. Net income was $285.0M with a 3.93% net margin. Gross margin stands at 55.02% and operating margin at 18.01%. Diluted EPS is $0.91, which grew 1.2% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$7.2BGross Profit (TTM)$4.0BOperating Income (TTM)$1.3BNet Income (TTM)$285.0MEps Diluted (TTM)$0.91
Latest FilingQ1 2026
Report Date2026-04-30
Market Cap$37.2B
P/E Ratio130.66
ROE70.48%

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Depreciation and amortization$234.6M$232.2M$252.6M$262.2M$277.5M$267.8M
Acquisition and Integration Costs$7.3M$5.8M$4.8M$5.4M$3.5M$2.9M
Restructuring and other transformation$36.8M$54.7M$50.3M$47.3M$43.5M$0
Selling, general and administrative$333.3M$329.7M$390.5M$335.2M$338.5M$372.8M
Total operating expenses$1.3B$1.3B$1.5B$1.4B$1.5B$1.5B

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$0.35$0.05$-0.15$0.28$0.30$0.48
Diluted earnings per share$0.35$0.05$-0.15$0.28$0.30$0.48
Weighted-average shares, basic293.4M294.5M295.4M295.8M295.4M296.8M
Weighted-average shares, diluted296.2M297.3M295.4M298M297.8M298.8M

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gross profit$892.3M$882.3M$957.1M$962.2M$1B$1B
Operating income$282.4M$254.3M$259.9M$308.6M$341M$395.2M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$124.2M$31.1M-$27M$102.8M$104.3M$176.1M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense$18.5M$14.8M$16.3M$16.6M$11.2M$27.1M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Interest expense-$194.5M-$194.7M-$205.1M-$209.7M-$219.8M-$223.8M
Interest Income (Expense), Nonoperating-$194.5M-$194.7M-$205.1M-$209.7M-$219.8M-$223.8M
Other income (expense), net—-$28.5M-$81.9M$4M-$16.9M$4.7M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income$105.7M$16.2M-$43.3M$86.2M$93.1M$149M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital investments accrued but not yet paid$100.5M$321.2M—$5M$34M$301.9M
Deferred taxes-$32.4M-$6.4M$8.9M-$12.2M-$37.9M$2.3M
Depreciation$162.4M$162.4M$180.6M$189.5M$198.4M$192.1M
Gain (Loss) on Sale of Assets and Asset Impairment Charges—-$5.6M$962K-$3.4M-$16.7M-$7.6M
Income Taxes Paid, Net$22.6M$27.8M$32.3M$29.7M$31.8M$26.4M
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation$237.5M$578.8M$304M$318.3M$66.7M$271.2M
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$694.9M-$766.8M-$584M-$617.4M-$605.9M-$531.5M
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$431.6M$197.3M$375.1M$267.6M$500M$338.6M
Other income, net (Note 6)—-$28.5M-$81.9M$4M-$16.9M$4.7M
Payments of Ordinary Dividends, Common Stock$210M$223.5M$231.8M$232M$232.2M$275.6M
Payments to Acquire Businesses, Net of Cash Acquired$4M$35.1M—$67.3M—$0
Payments to Acquire Intangible Assets$56.6M$8.9M$980K$11.3M$54.3M$3.2M
Payments to Acquire Property, Plant, and Equipment$617.6M$674.8M$556.8M$523.9M$516.2M$518M
Proceeds from disposition of property, plant and equipment/other$11.6M$190K$9.9M$2.8M$766K$4.3M
Revenue From Contract With Customer Excluding Assessed Tax$1.6B$1.6B$1.7B$1.8B$1.8B$1.9B
Stock-based compensation$44.6M$26.1M$60.4M$32.1M$21.7M$28.3M

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total cost of revenue$688.9M$710.2M$754.8M$791.9M$822.5M$889.8M

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenue$1.6B$1.6B$1.7B$1.8B$1.8B$1.9B