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Iron Mountain IRM Storage rental — Storage rental revenue

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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 storage rental — storage rental revenue?
Iron Mountain (IRM) reported storage rental — storage rental revenue of $1.09B in Q1 2026.
How has Iron Mountain's storage rental — storage rental revenue changed year-over-year?
Iron Mountain's storage rental — storage rental revenue increased by 15.4% year-over-year, from $948.38M to $1.09B.
What is the long-term trend for Iron Mountain's storage rental — storage rental revenue?
Over 4 years (2021 to 2025), Iron Mountain's storage rental — storage rental revenue has grown at a 9.0% compound annual growth rate (CAGR), from $2.87B to $4.05B.
What does storage rental — storage rental revenue mean?
This metric represents the recurring revenue generated from the long-term storage of physical records, data, or other assets within a managed facility. It serves as the primary indicator of the core business performance for the storage segment, reflecting the scale and pricing power of the firm's real estate footprint. Consistent growth in this area typically signals strong customer retention and effective management of storage capacity.