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Iron Mountain IRM Records Management — Storage rental revenue

Other product segments

Information Destruction
$382.88M+45.8%
Data Center
$254.73M+47.1%
Data Management
$122.96M+0.7%

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Other financials

Income statement

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Revenue$1.9B+21.6%
Gross profit$1.0B+18.6%
Operating income$395.2M+55.4%
Net income$149.0M+818%
EPS (diluted)$0.48+860%

Balance sheet

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Cash & equivalents$250.7M+61.4%
Total debt$20.2B+13.6%
Total equity-$1.2B-73.9%
Total assets$21.5B+11.0%

Cash flow

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Operating cash flow$338.6M+71.6%
CapEx$518.0M-23.2%
Free cash flow-$179.5M+62.4%

Valuation

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Market cap$37.04B+26.3%
Enterprise value$56.98B+19.6%
P/E130×-523×
P/S5.1×+0.6×

Profitability

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Gross margin55%-1.0pp
Operating margin18%+1.8pp
Net margin3.9%+2.0pp
FCF margin-8.7%-2.2pp

Returns & leverage

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Return on equity70.5%-19.4pp
Debt / equity855.6×+830×
Current ratio0.8×+0.2×

Where this comes from

Reported directly by Iron Mountain in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The official record: Iron Mountain’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Iron Mountain's records management — storage rental revenue?
Iron Mountain (IRM) reported records management — storage rental revenue of $1.18B in Q1 2026.
How has Iron Mountain's records management — storage rental revenue changed year-over-year?
Iron Mountain's records management — storage rental revenue increased by 13.6% year-over-year, from $1.03B to $1.18B.
What is the long-term trend for Iron Mountain's records management — storage rental revenue?
Over 4 years (2021 to 2025), Iron Mountain's records management — storage rental revenue has grown at a 8.2% compound annual growth rate (CAGR), from $3.2B to $4.38B.
What does records management — storage rental revenue mean?
This metric represents the recurring revenue generated from the long-term physical storage of documents, records, and media for enterprise clients. It serves as the core foundation of the records management business model, reflecting the stability and scale of the company's physical storage footprint. As a primary driver of REIT-based cash flow, this revenue stream is typically characterized by high retention rates and contractual pricing escalators.