Iron Mountain Incorporated (IRM) Income Statement
IRM 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsIRM revenue and net income
Where IRM's revenue goes
2025Each bar shows an amount and its share of revenue. IRM kept 2.1% of revenue as net income.
IRM profit margins
IRM growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +12.2% | +10.6% | +10.7% | +8.7% |
| Gross profit | −48.6% | −15.3% | −5.8% | +0.3% |
| Operating income | +39.2% | +10.2% | +8.5% | +10.4% |
| Net income | −19.7% | −36.2% | −15.9% | +1.6% |
| EPS (diluted) | +58.7% | +17.5% | +21.1% | +8.6% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
IRM quarterly EPS vs estimates
Iron Mountain beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 5, 2026 (estimate $1.35).
IRM income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.90B | $6.15B | $5.48B | $5.10B | $4.49B | $4.15B | $4.26B | $4.23B | $3.85B | $3.51B |
| Cost of revenue | $5.13B | $2.70B | $2.36B | $2.19B | $1.89B | $1.76B | $1.83B | $1.80B | $1.69B | $1.57B |
| Gross profit | $1.77B | $3.45B | $3.12B | $2.91B | $2.60B | $2.39B | $2.43B | $2.42B | $2.16B | $1.94B |
| Research & development | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales, general & admin | $1.02B | $1.34B | $1.24B | $1.14B | $1.02B | $913.2M | $991.7M | $977.3M | $905.7M | $859.6M |
| Total operating expenses | $367.9M | $2.44B | $2.20B | $1.86B | $1.75B | $1.46B | $1.65B | $1.62B | $1.55B | $1.44B |
| Operating income | $1.41B | $1.01B | $921.8M | $1.05B | $854.2M | $934.8M | $781.3M | $808.3M | $634.1M | $501.6M |
| Interest income | $17.1M | $14.7M | $12.5M | $426.3M | $402.2M | $8.3M | $6.6M | $6.6M | $7.7M | $7.6M |
| Interest expense | $829.3M | $736.2M | $598.4M | $496.3M | $425.3M | $426.8M | $425.9M | $415.8M | $361.2M | $318.2M |
| Income before taxes | $211.2M | $244.5M | $227.2M | $631.6M | $629.0M | $372.7M | $328.1M | $357.9M | $216.1M | $146.6M |
| Income taxes | $58.9M | $60.9M | $39.9M | $69.5M | $176.3M | $29.6M | $59.9M | $36.3M | $25.9M | $44.9M |
| Net income | $144.6M | $180.2M | $184.2M | $557.0M | $450.2M | $342.7M | $267.4M | $363.4M | $183.8M | $104.8M |
| EBITDA | $2.12B | $1.91B | $1.62B | $1.87B | $1.75B | $1.47B | $1.43B | $1.48B | $1.08B | $917.2M |
| EPS (diluted) | $2.84 | $1.79 | $1.79 | $1.75 | $1.53 | $1.09 | $1.03 | $1.07 | $1.14 | $1.10 |
| Gross margin | 25.7% | 56.2% | 57.0% | 57.1% | 58.0% | 57.6% | 57.0% | 57.4% | 56.2% | 55.4% |
| Operating margin | 20.4% | 16.4% | 16.8% | 20.6% | 19.0% | 22.5% | 18.3% | 19.1% | 16.5% | 14.3% |
| Net margin | 2.1% | 2.9% | 3.4% | 10.9% | 10.0% | 8.3% | 6.3% | 8.6% | 4.8% | 3.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.03B | $1.94B | $1.84B | $1.75B | $1.71B | $1.59B | $1.58B | $1.56B | $1.53B | $1.48B | $1.42B | $1.39B |
| Cost of revenue | $958.6M | $889.8M | $822.5M | $791.9M | $754.8M | $710.2M | $688.9M | $678.4M | $676.0M | $653.3M | $601.3M | $592.2M |
| Gross profit | $1.07B | $1.05B | $1.02B | $962.2M | $957.1M | $882.3M | $892.3M | $879.0M | $858.4M | $823.6M | $818.5M | $796.0M |
| Sales, general & admin | $402.3M | $372.8M | $338.5M | $335.2M | $390.5M | $329.7M | $333.3M | $341.9M | $344.8M | $319.5M | $314.9M | $315.0M |
| Total operating expenses | $696.9M | $651.1M | $679.6M | $653.6M | $697.2M | $628.0M | $609.9M | $627.8M | $628.1M | $578.0M | $587.7M | $558.1M |
| Operating income | $373.5M | $395.2M | $341.0M | $308.6M | $259.9M | $254.3M | $282.4M | $251.2M | $230.3M | $245.6M | $230.8M | $237.8M |
| Interest income | $1.4M | $1.5M | $1.2M | $8.1M | $4.4M | $3.5M | $10.3M | $949,000 | $0 | $3.7M | — | $152.8M |
| Interest expense | $223.4M | $223.8M | $235.1M | $217.8M | $209.5M | $198.2M | $204.8M | $187.0M | $176.5M | $168.2M | $151.8M | $156.9M |
| Income before taxes | $120.9M | $176.1M | $104.3M | $102.8M | −$27.0M | $31.1M | $124.2M | −$21.3M | $47.9M | $93.6M | $38.2M | $101.3M |
| Income taxes | $14.8M | $27.1M | $11.2M | $16.6M | $16.3M | $14.8M | $18.5M | $12.4M | $13.3M | $16.6M | $9.0M | $9.9M |
| Net income | $101.4M | $143.7M | $89.3M | $84.3M | −$44.9M | $16.0M | $103.9M | −$33.6M | $35.8M | $74.1M | $28.5M | $91.0M |
| EBITDA | $633.8M | $592.1M | $690.6M | $583.5M | $442.8M | $469.3M | $589.2M | $404.7M | $455.1M | $477.5M | $419.3M | $439.6M |
| EPS (diluted) | $1.44 | $0.60 | $0.61 | $1.32 | $0.48 | $0.43 | $0.50 | $0.44 | $0.42 | $0.43 | $0.52 | $0.45 |
| Gross margin | 52.8% | 54.0% | 55.4% | 54.9% | 55.9% | 55.4% | 56.4% | 56.4% | 55.9% | 55.8% | 57.6% | 57.3% |
| Operating margin | 18.4% | 20.4% | 18.5% | 17.6% | 15.2% | 16.0% | 17.9% | 16.1% | 15.0% | 16.6% | 16.3% | 17.1% |
| Net margin | 5.0% | 7.4% | 4.8% | 4.8% | −2.6% | 1.0% | 6.6% | −2.2% | 2.3% | 5.0% | 2.0% | 6.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in IRM's financial statements (latest annual report filed February 12, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
IRM financial results
In fiscal year 2025 (ended December 31, 2025), Iron Mountain reported revenue of $6.9 billion, up 12.2% from the year before. It had net income of $144.6 million (down 19.7%), a net profit margin of 2.1%. Diluted earnings per share came to $2.84. Over five years revenue grew at an average rate of 10.7% a year.
See the IRM stock overview for the latest quote and news, or the IRM chart for price history and technical indicators.
IRM income statement FAQ
What is Iron Mountain's annual revenue?
Iron Mountain reported total revenue of $6.9 billion for fiscal year 2025, which ended on December 31, 2025. That was up 12.2% from $6.1 billion the previous year.
Is Iron Mountain profitable?
Yes. Iron Mountain reported net income of $144.6 million in fiscal 2025, a net profit margin of 2.1%; its operating margin was 20.4%.
What is Iron Mountain's gross margin?
Iron Mountain's gross margin was 25.7% in fiscal 2025: for every $100 of revenue, Iron Mountain kept $26 after the direct cost of its products and services.
How fast is Iron Mountain growing?
Revenue grew 10.7% a year on average over the last five fiscal years, from $4.1 billion to $6.9 billion.
What are Iron Mountain's earnings per share?
Iron Mountain earned $2.84 per diluted share in fiscal 2025, compared with $1.79 a year earlier.
When will Iron Mountain report its next earnings?
Iron Mountain is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 before the market opens.
When does Iron Mountain's fiscal year end?
Iron Mountain's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 12, 2026.