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Iron Mountain IRM Rental Activities — Deferred revenue - Long-term

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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$37.06B+27.2%
Enterprise value$56.99B+20.1%
P/E130×-519×
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:ContractWithCustomerLiabilityNoncurrent.

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 rental activities — deferred revenue - long-term?
Iron Mountain (IRM) reported rental activities — deferred revenue - long-term of $138.8M in Q1 2026.
How has Iron Mountain's rental activities — deferred revenue - long-term changed year-over-year?
Iron Mountain's rental activities — deferred revenue - long-term increased by 36.6% year-over-year, from $101.6M to $138.8M.
What does rental activities — deferred revenue - long-term mean?
This metric captures the portion of payments received from customers for storage and rental services that will be recognized as revenue beyond the next twelve months. It represents long-term contractual obligations where the company has received upfront payments for multi-year storage or service agreements. This provides insight into the stability and long-term predictability of the company's rental revenue stream.