Iron Mountain income statement
In fiscal 2025, Iron Mountain reported revenue of $6.90bn, up 12.2% on the year before, operating income of $1.16bn (a 16.9% margin) and net income of $145m, or $0.49 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 3,511 | 3,846 | 4,226 | 4,263 | 4,147 | 4,492 | 5,104 | 5,480 | 6,150 | 6,902 | 7,562 |
| Selling, general and administrative | 988 | 937 | 1,007 | 992 | 949 | 1,023 | 1,141 | 1,236 | 1,340 | 1,394 | 1,449 |
| Operating income | 502 | 634 | 808 | 781 | 935 | 854 | 1,050 | 922 | 1,010 | 1,164 | 1,418 |
| Interest expense | — | — | — | — | — | — | 488 | 586 | 722 | 829 | 877 |
| Net interest income | −311 | −354 | −410 | −419 | −419 | −418 | −488 | −586 | — | — | — |
| Income before tax | — | — | — | — | 373 | 629 | 632 | 227 | 245 | 211 | 504 |
| Income tax | 45 | 23 | 43 | 60 | 30 | 176 | 69 | 40 | 61 | 59 | 70 |
| Net income | 105 | 170 | 354 | 267 | 343 | 450 | 557 | 184 | 180 | 145 | 419 |
| Diluted EPS | $0.42 | $0.64 | $1.23 | $0.93 | $1.19 | $1.55 | $1.90 | $0.63 | $0.61 | $0.49 | $1.40 |
| Diluted shares (average) | 247m | 267m | 287m | 288m | 289m | 291m | 292m | 294m | 296m | 298m | 299m |
| EBITDA | 954 | 1,156 | 1,448 | 1,440 | 1,587 | 1,535 | 1,777 | 1,698 | 1,910 | 2,188 | 2,507 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,557 | 1,581 | 1,593 | 1,712 | 1,754 | 1,843 | 1,936 | 2,029 |
| Selling, general and administrative | 342 | 333 | 330 | 390 | 335 | 338 | 373 | 402 |
| Operating income | 251 | 282 | 254 | 260 | 309 | 341 | 395 | 374 |
| Interest expense | 186 | 194 | 195 | 205 | 210 | 220 | 224 | 223 |
| Income before tax | −21 | 124 | 31 | −27 | 103 | 104 | 176 | 121 |
| Income tax | 12 | 19 | 15 | 16 | 17 | 11 | 27 | 15 |
| Net income | −34 | 104 | 16 | −45 | 84 | 89 | 144 | 101 |
| Diluted EPS | −$0.11 | $0.35 | $0.05 | −$0.15 | $0.28 | $0.30 | $0.48 | $0.34 |
| EBITDA | 483 | 517 | 486 | 512 | 571 | 619 | 663 | 655 |
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