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Iron Mountain cash flow statement

In fiscal 2025, Iron Mountain's operations generated $1.34bn of cash; it spent $2.27bn on capital projects, leaving free cash flow of −$932m. It returned $919m in dividends.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations5447219369679887599281,1141,1971,3401,655
Depreciation and amortisation4525226406586526807287769011,0241,089
Stock-based pay2930313638615774118140139
Capital spending3293434606934386118751,3391,7922,2722,146
Free cash flow21537847527454914852−226−595−932−491
Free cash flow after stock pay18634844423851287−5−299−713−1,072−630
Dividends paid506440674705716718724738790919997
Shares issued059900——————

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Iron Mountain's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Iron Mountain.