{ "ok": true, "cik": "1020569", "ticker": "IRM", "name": "IRON MOUNTAIN INC", "filings": [ { "form": "10-Q", "filed": "2026-08-05", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1020569/000102056926000071/0001020569-26-000071-index.htm" }, { "form": "8-K", "filed": "2026-08-05", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1020569/000102056926000068/0001020569-26-000068-index.htm" }, { "form": "8-K", "filed": "2026-06-26", "items": [ "1.01 Entry into a Material Definitive Agreement", "2.03 Creation of a Direct Financial Obligation", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1020569/000110465926078307/0001104659-26-078307-index.htm" }, { "form": "8-K", "filed": "2026-05-12", "items": [ "5.07 Submission of Matters to a Vote of Security Holders", "8.01 Other Events", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1020569/000102056926000055/0001020569-26-000055-index.htm" }, { "form": "10-Q", "filed": "2026-04-30", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1020569/000102056926000039/0001020569-26-000039-index.htm" }, { "form": "8-K", "filed": "2026-04-30", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1020569/000102056926000036/0001020569-26-000036-index.htm" } ], "events12m": 9, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 1, "latest": { "filed": "2025-10-21", "url": "https://www.sec.gov/Archives/edgar/data/1020569/000102056925000195/0001020569-25-000195-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001020569.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1020569" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up IRON MOUNTAIN INC ($IRM). Last filing: 10-Q, 2026-08-05. 9 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 6901737000, "revenueGrowth1y": 0.12225026419090113, "revenueGrowthPerYear": 0.1133738099096222, "yearsOfData": 5, "operatingMargin": 0.16862740495617262, "operatingMarginPrior": 0.16415185980800692, "netMargin": 0.02206024367488938, "operatingCashFlow": 1339999000, "capitalSpending": 2271628000, "freeCashFlow": -931629000, "researchAndDevelopment": null, "researchShareOfRevenue": null, "cash": 158535000, "longTermDebt": 16431959000, "longTermDebtChange": 0.19774444157577253, "revenueHistory": [ { "fiscalYearEnd": "2021-12-31", "revenue": 4491531000 }, { "fiscalYearEnd": "2022-12-31", "revenue": 5103574000 }, { "fiscalYearEnd": "2023-12-31", "revenue": 5480289000 }, { "fiscalYearEnd": "2024-12-31", "revenue": 6149909000 }, { "fiscalYearEnd": "2025-12-31", "revenue": 6901737000 } ], "totalEquity": -981007000, "totalAssets": 21125019000, "equityRatio": -0.04643815941656668, "returnOnEquity": null, "dividendsPaid": 919388000, "payoutRatio": 6.0385145874656825, "dividendPerShare": 3.22, "dividendYearsRising": 3, "dividendCut": false, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": 0.49, "sharesOutstanding": 297816000, "bookValuePerShare": -3.2940036801246406, "revenuePerShare": 23.174500362640018, "range80": { "low": 6884788920.944603, "high": 8197233255.438602, "baseline": 7688867317.0490885, "n": 4599, "band": "b1", "bandLabel": "$1B–10B", "method": "v4.1", "credibility": 0.5, "growthYears": 4, "ownVolatility": 0.02482142203123556, "classVolatility": 0.07701947805587882, "volatility": 0.05721932799174028 }, "ifPaceHeld": { "low": 6884788920.944603, "high": 8197233255.438602 } }, "edgarette": "🔖 Exposure: revenue $6.9B (FY2025), total debt $16.4B. Experience: revenue up 12.2% on the year, up 11.3% a year over 4 years; operating margin 16.9%, up from 16.4%. Soundness: equity -4.6% of assets (liabilities exceed assets), payout 603.9% of profit, dividend per share up 3 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $6.9B and $8.2B next year (method v4.1: its own 4-year record of growth weighed at 50% against $1B–10B filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $6.5B to $8.7B. A statistical range, not company guidance. Against peers (79 filers, $50M+ revenue, real estate investment trusts): operating margin 16.9% against a 24.7% median; growth 12.2% against 3.7%.", "peers": { "sic": 6798, "sicDescription": "Real Estate Investment Trusts", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "6798", "growth": [ 0.0366, 157 ], "opMargin": [ 0.2474, 79 ], "equityRatio": [ 0.3883, 154 ], "returnOnEquity": [ 0.0254, 128 ], "payoutRatio": [ 1.5128, 81 ] }, "summary": "Iron Mountain (IRM) grew revenue 12.2% in FY2025 to $6.9 billion, operating margin 16.9% against a 24.7% median for real estate investment trusts, equity -4.6% of assets, and dividend per share up 3 years running. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
IRON MOUNTAIN INC against its own record and its peers
Operating marginPeer median 24.7%16.9%Revenue, on the yearPeer median 3.7%12.2%Equity of assetsPeer median 38.8%-4.6%Payout of profitPeer median 151.3%603.9%Gold tick: the median of 81–154 peers with $50M+ revenue in real estate investment trusts
", "chartHorizon": "
Handed back now, or kept to compound
Of each dollar of profit120.0% paid outMore was paid out than was earned in the year.Handed back per share$3.22up 3 years runningRevenue growth it managed12.2%last year, for comparison

Gold is paid out to shareholders; navy is kept in the business. Retained profit times return on equity is the pace a company can fund from itself. Facts from the filings, not a recommendation.

", "backtest": { "tests": 6, "hits": 5, "rate": 0.8333333333333334, "method": "v4", "byYear": { "2020": [ 1, 1 ], "2021": [ 0, 1 ], "2022": [ 1, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T16:34:36.118Z", "hash": "a09ece53e2bec2dd", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Iron Mountain (IRM) grew revenue 12.2% in FY2025 to $6.9 billion, operating margin 16.9% against a 24.7% median for real estate investment trusts, equity -4.6% of assets, and dividend per share up 3 years running. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 6901737000, "totalDebt": 16431959000, "cash": 158535000 }, "experience": { "revenueGrowth1y": 0.12225026419090113, "revenueGrowthPerYear": 0.1133738099096222, "operatingMargin": 0.16862740495617262, "operatingMarginPrior": 0.16415185980800692, "netMargin": 0.02206024367488938, "freeCashFlow": -931629000 }, "soundness": { "equityRatio": -0.04643815941656668, "returnOnEquity": null, "payoutRatio": 6.0385145874656825, "dividendPerShare": 3.22, "dividendYearsRising": 3, "dividendCut": false, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 6798, "sicDescription": "Real Estate Investment Trusts", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "6798", "growth": [ 0.0366, 157 ], "opMargin": [ 0.2474, 79 ], "equityRatio": [ 0.3883, 154 ], "returnOnEquity": [ 0.0254, 128 ], "payoutRatio": [ 1.5128, 81 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 1, "latest": { "filed": "2025-10-21", "url": "https://www.sec.gov/Archives/edgar/data/1020569/000102056925000195/0001020569-25-000195-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 6884788920.944603, "high": 8197233255.438602, "baseline": 7688867317.0490885, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 4599, "sizeBand": "$1B–10B", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341 }, "credibility": { "weightOnOwnRecord": 0.5, "growthYears": 4, "ownVolatility": 0.02482142203123556, "classVolatility": 0.07701947805587882, "pricedVolatility": 0.05721932799174028, "k": 3 }, "stress": { "low": 6459759729.340835, "high": 8737119629.61278, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 6, "hits": 5, "rate": 0.8333333333333334, "method": "v4", "byYear": { "2020": [ 1, 1 ], "2021": [ 0, 1 ], "2022": [ 1, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T16:34:36.118Z", "hash": "a09ece53e2bec2dd", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001020569.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1020569" }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.1942, "growth3y": 0.1058, "volatility": 0.0248, "paysDividend": true, "raisedDividend": true, "equityRatio": -0.0464, "quadrant": { "code": "fs", "label": "Fast and steady", "plain": "growing faster than its size class, with steadier revenue" }, "compass": { "code": "later", "inside": "Turns 19.4% of revenue into operating cash; revenue growing 10.6% a year over three years; pays and raised its dividend; liabilities exceed assets.", "outside": "Among $1B-10B companies: 64th percentile for cash, 71st for growth.", "emoji": "🌱", "label": "Cash cow later", "plain": "growing fast, and already turning revenue into cash" }, "band": "$1B-10B", "cashPctInClass": 64, "growthPctInClass": 71, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "balance", "text": "liabilities exceed assets (often from years of share buybacks, not always distress)" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 1, "name": "Sound ship", "plain": "one warning sign" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 1339999000, "investing": -2574206000, "financing": 1267914000, "capitalSpending": 2271628000, "free": -931629000, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 758902000, "free": -127996000 }, { "fiscalYearEnd": "2022-12-31", "operating": 927695000, "free": -829914000 }, { "fiscalYearEnd": "2023-12-31", "operating": 1113567000, "free": -368503000 }, { "fiscalYearEnd": "2024-12-31", "operating": 1196708000, "free": -594856000 }, { "fiscalYearEnd": "2025-12-31", "operating": 1339999000, "free": -931629000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 158535000, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 21125019000, "ladder": null, "currentRatio": 0.74, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.1942, "growth3y": 0.1058, "volatility": 0.0248, "paysDividend": true, "raisedDividend": true, "equityRatio": -0.0464, "quadrant": { "code": "fs", "label": "Fast and steady", "plain": "growing faster than its size class, with steadier revenue" }, "compass": { "code": "later", "inside": "Turns 19.4% of revenue into operating cash; revenue growing 10.6% a year over three years; pays and raised its dividend; liabilities exceed assets.", "outside": "Among $1B-10B companies: 64th percentile for cash, 71st for growth.", "emoji": "🌱", "label": "Cash cow later", "plain": "growing fast, and already turning revenue into cash" }, "band": "$1B-10B", "cashPctInClass": 64, "growthPctInClass": 71, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "balance", "text": "liabilities exceed assets (often from years of share buybacks, not always distress)" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 1, "name": "Sound ship", "plain": "one warning sign" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 1339999000, "investing": -2574206000, "financing": 1267914000, "capitalSpending": 2271628000, "free": -931629000, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 758902000, "free": -127996000 }, { "fiscalYearEnd": "2022-12-31", "operating": 927695000, "free": -829914000 }, { "fiscalYearEnd": "2023-12-31", "operating": 1113567000, "free": -368503000 }, { "fiscalYearEnd": "2024-12-31", "operating": 1196708000, "free": -594856000 }, { "fiscalYearEnd": "2025-12-31", "operating": 1339999000, "free": -931629000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 158535000, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 21125019000, "ladder": null, "currentRatio": 0.74, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }