Iron Mountain (IRM) Financials

$84.41 +0.97 (+1.16%)

Closing price 04/14/2025 03:59 PM Eastern

Extended Trading

$85.18 +0.77 (+0.91%)

As of 08:02 AM Eastern

Annual Income Statements for Iron Mountain

This table shows Iron Mountain's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	123	105	170	354	267	343	450	557	184	180
Consolidated Net Income / (Loss)	125	107	172	355	268	343	453	562	187	184
Net Income / (Loss) Continuing Operations	125	104	178	368	268	343	453	562	187	184
Total Pre-Tax Income	162	147	201	410	328	373	629	632	227	245
Total Operating Income	525	502	634	808	781	935	854	1,050	922	1,010
Total Gross Profit	1,718	1,944	2,181	2,432	2,429	2,390	2,604	2,914	3,122	3,453
Total Revenue	3,008	3,511	3,846	4,226	4,263	4,147	4,492	5,104	5,480	6,150
Operating Revenue	3,008	3,511	3,846	4,226	4,263	4,147	4,492	5,104	5,480	6,150
Total Cost of Revenue	1,290	1,568	1,665	1,794	1,833	1,757	1,887	2,189	2,358	2,697
Operating Cost of Revenue	1,290	1,568	1,665	1,794	1,833	1,757	1,887	2,189	2,358	2,697
Total Operating Expenses	1,193	1,442	1,547	1,624	1,648	1,455	1,750	1,865	2,201	2,444
Selling, General & Admin Expense	845	988	937	1,007	992	949	1,023	1,141	1,236	1,340
Depreciation Expense	345	452	522	640	658	652	680	728	776	901
Other Operating Expenses / (Income)	-	-	85	51	13	0.00	13	48	26	36
Impairment Charge	3.00	1.41	2.25	-74	-64	-341	-172	-93	-13	6.20
Restructuring Charge	-	-	0.00	0.00	49	194	206	42	175	161
Total Other Income / (Expense), net	-362	-355	-433	-398	-453	-562	-225	-418	-695	-765
Interest & Investment Income	-	-	-	-	-	-	-	-488	-586	-722
Other Income / (Expense), net	-99	-44	-79	12	-34	-144	193	70	-109	-43
Income Tax Expense	38	45	23	43	60	30	176	69	40	61
Net Income / (Loss) Attributable to Noncontrolling Interest	1.96	2.41	1.61	1.20	0.94	0.40	2.51	5.17	3.03	3.51
Basic Earnings per Share	$0.58	$0.43	$0.64	$1.24	$0.93	$1.19	$1.56	$1.92	$0.63	$0.61
Weighted Average Basic Shares Outstanding	210.76M	246.18M	265.90M	285.91M	286.97M	288.18M	289.46M	290.81M	291.94M	293.37M
Diluted Earnings per Share	$0.58	$0.42	$0.64	$1.23	$0.93	$1.19	$1.55	$1.90	$0.63	$0.61
Weighted Average Diluted Shares Outstanding	212.12M	247.27M	266.84M	286.65M	287.69M	288.64M	290.98M	292.44M	293.97M	296.23M
Weighted Average Basic & Diluted Shares Outstanding	212.50M	243.80M	266.40M	285.40M	287.50M	288.42M	289.83M	290.90M	292.28M	293.74M
Cash Dividends to Common per Share	$1.91	$2.04	$2.27	$2.38	$2.45	$2.47	$2.47	$2.47	$2.54	$2.73

This table shows Iron Mountain's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	192	122	65	0.11	91	28	74	36	-34	104
Consolidated Net Income / (Loss)	193	126	66	1.14	91	29	77	35	-34	106
Net Income / (Loss) Continuing Operations	193	126	66	1.14	91	29	77	35	-34	106
Total Pre-Tax Income	217	143	82	5.40	101	38	94	48	-21	124
Total Operating Income	286	248	241	213	238	231	246	230	251	282
Total Gross Profit	741	739	743	765	796	819	824	858	879	892
Total Revenue	1,287	1,279	1,314	1,358	1,388	1,420	1,477	1,534	1,557	1,581
Operating Revenue	1,287	1,279	1,314	1,358	1,388	1,420	1,477	1,534	1,557	1,581
Total Cost of Revenue	546	540	572	593	592	601	653	676	678	689
Operating Cost of Revenue	546	540	572	593	592	601	653	676	678	689
Total Operating Expenses	455	491	502	553	558	588	578	628	628	610
Selling, General & Admin Expense	285	279	295	312	315	315	319	345	342	333
Depreciation Expense	175	191	182	195	199	200	210	225	232	235
Other Operating Expenses / (Income)	5.55	9.65	1.60	1.51	9.91	13	7.81	9.50	11	7.27
Impairment Charge	-14	-27	-13	-1.51	-4.42	6.16	0.39	2.79	5.09	-2.07
Restructuring Charge	3.38	39	37	46	39	54	41	47	37	37
Total Other Income / (Expense), net	-69	-105	-158	-207	-137	-193	-152	-182	-272	-158
Other Income / (Expense), net	53	32	-21	-63	16	-41	13	-5.83	-86	36
Income Tax Expense	24	17	17	4.26	9.91	9.02	17	13	12	19
Net Income / (Loss) Attributable to Noncontrolling Interest	0.77	3.22	0.94	1.03	0.35	0.71	2.96	-1.16	-0.05	1.75
Basic Earnings per Share	$0.66	$0.42	$0.22	$0.00	$0.31	$0.10	$0.25	$0.12	($0.11)	$0.35
Weighted Average Basic Shares Outstanding	290.94M	290.81M	291.44M	291.83M	292.15M	291.94M	292.75M	293.34M	293.60M	293.37M
Diluted Earnings per Share	$0.66	$0.42	$0.22	$0.00	$0.31	$0.10	$0.25	$0.12	($0.11)	$0.35
Weighted Average Diluted Shares Outstanding	292.55M	292.44M	293.05M	293.53M	294.27M	293.97M	295.22M	295.84M	293.60M	296.23M
Weighted Average Basic & Diluted Shares Outstanding	290.71M	290.90M	291.62M	291.85M	291.99M	292.28M	293.13M	293.34M	293.46M	293.74M

This table details how cash moves in and out of Iron Mountain's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	-31	108	662	-736	28	12	51	-114	81	-67
Net Cash From Operating Activities	542	544	721	936	967	988	759	928	1,114	1,197
Net Cash From Continuing Operating Activities	542	541	724	937	967	988	759	928	1,114	1,197
Net Income / (Loss) Continuing Operations	125	104	178	368	268	343	453	562	187	184
Consolidated Net Income / (Loss)	125	107	172	355	268	343	453	562	187	184
Depreciation Expense	301	366	406	453	456	448	465	479	526	629
Amortization Expense	53	112	142	219	232	232	241	275	274	303
Non-Cash Adjustments To Reconcile Net Income	113	71	122	-59	-34	-156	-297	-80	202	195
Changes in Operating Assets and Liabilities, net	-51	-111	-125	-43	8.13	121	-103	-308	-76	-114
Net Cash From Investing Activities	-457	-536	-599	-2,222	-731	-85	-473	-1,660	-1,444	-2,137
Net Cash From Continuing Investing Activities	-457	-633	-599	-2,230	-736	-85	-473	-1,660	-1,444	-2,137
Purchase of Property, Plant & Equipment	-290	-329	-343	-460	-693	-438	-611	-875	-1,339	-1,792
Acquisitions	-146	-324	-275	-64	-124	-141	-289	-885	-64	-251
Sale of Property, Plant & Equipment	2.27	7.98	9.34	86	166	565	278	170	54	18
Other Investing Activities, net	-23	-19	-20	-35	-86	-71	-66	-70	-95	-113
Net Cash From Financing Activities	-109	125	540	551	-199	-887	-221	639	426	877
Net Cash From Continuing Financing Activities	-109	125	540	551	-199	-887	-221	639	426	877
Repayment of Debt	-686	-14,851	-16,177	-14,192	-14,535	-11,572	-5,161	-11,603	-18,225	-14,509
Repurchase of Common Equity	-14	-19	-15	-16	-5.75	0.00	-75	-4.52	-0.40	-35
Payment of Dividends	-409	-508	-444	-676	-706	-719	-721	-727	-742	-792
Issuance of Debt	985	15,470	16,574	15,352	15,047	11,404	5,710	12,950	19,376	16,153
Issuance of Common Equity	15	33	602	8.72	1.03	0.32	26	29	25	231
Other Financing Activities, net	0.33	0.00	0.00	75	-	-	-	-4.85	-8.75	-171
Effect of Exchange Rate Changes	-8.02	-25	-	-	-	-4.01	-14	-21	-14	-3.77
Cash Interest Paid	260	297	368	388	395	390	428	483	512	771
Cash Income Taxes Paid	42	70	104	64	62	43	130	100	90	91

This table details how cash moves in and out of Iron Mountain's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	10	-13	4.65	3.05	21	52	-31	-47	24	-13
Net Cash From Operating Activities	214	367	129	317	220	447	130	382	253	432
Net Cash From Continuing Operating Activities	214	367	129	317	220	447	130	382	253	432
Net Income / (Loss) Continuing Operations	193	126	66	1.14	91	29	77	35	-34	106
Consolidated Net Income / (Loss)	193	126	66	1.14	91	29	77	35	-34	106
Depreciation Expense	114	128	120	134	133	139	144	159	164	162
Amortization Expense	67	69	68	67	73	67	73	73	76	80
Non-Cash Adjustments To Reconcile Net Income	-42	-29	34	94	0.48	74	9.34	50	128	7.41
Changes in Operating Assets and Liabilities, net	-118	73	-159	22	-78	139	-173	65	-81	76
Net Cash From Investing Activities	-313	-357	-273	-373	-390	-409	-526	-434	-482	-695
Net Cash From Continuing Investing Activities	-313	-357	-273	-373	-390	-409	-526	-434	-482	-695
Purchase of Property, Plant & Equipment	-267	-279	-266	-335	-362	-377	-381	-397	-396	-618
Acquisitions	-53	-113	-17	-20	-18	-7.99	-122	-11	-57	-61
Sale of Property, Plant & Equipment	23	51	36	-0.27	9.34	8.81	5.61	0.32	0.43	12
Other Investing Activities, net	-16	-16	-25	-17	-19	-33	-28	-27	-30	-28
Net Cash From Financing Activities	116	-19	150	60	194	22	362	7.19	270	238
Net Cash From Continuing Financing Activities	116	-19	150	60	194	22	362	7.19	270	238
Repayment of Debt	297	-12,795	-4,650	4,245	374	-18,193	-1,731	2,671	315	-15,763
Payment of Dividends	-181	-181	-188	-182	-182	-191	-199	-191	-192	-211
Issuance of Debt	-	12,950	5,009	-4,019	-	18,386	2,479	-2,479	-	16,153
Issuance of Common Equity	-	7.63	-	-	-	15	-	-	179	52
Other Financing Activities, net	-0.35	4.14	-21	5.49	1.98	5.05	-188	7.35	3.37	6.49
Effect of Exchange Rate Changes	-7.74	-4.86	-1.52	-1.42	-3.52	-7.43	2.34	-2.63	-16	13
Cash Interest Paid	183	72	205	65	200	42	275	108	261	126
Cash Income Taxes Paid	21	22	19	28	28	15	19	24	25	23

This table presents Iron Mountain's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	6,351	9,487	10,972	11,857	13,817	14,149	14,450	16,141	17,474	18,717
Total Current Assets	858	1,112	1,950	1,208	1,236	1,270	1,441	1,547	1,736	1,691
Cash & Equivalents	128	236	926	165	194	205	256	142	223	156
Accounts Receivable	564	691	836	847	851	859	961	1,175	1,260	1,291
Prepaid Expenses	143	184	189	196	192	205	224	230	253	244
Plant, Property, & Equipment, net	2,497	3,083	3,418	4,490	4,623	4,502	4,668	5,115	6,315	7,632
Plant, Property & Equipment, gross	4,744	5,536	6,251	7,601	8,049	8,246	8,647	9,026	10,374	11,986
Accumulated Depreciation	2,247	2,452	2,833	3,111	3,426	3,744	3,979	3,910	4,059	4,354
Total Noncurrent Assets	2,996	5,291	5,604	6,160	7,957	8,377	8,341	9,478	9,423	9,394
Noncurrent Note & Lease Receivables	-	-	-	0.00	1,869	2,197	2,314	2,584	2,696	2,490
Goodwill	2,361	3,905	4,070	4,441	4,485	4,558	4,464	4,883	5,018	5,084
Intangible Assets	603	1,253	1,401	1,507	1,393	1,327	1,181	1,423	1,280	1,275
Other Noncurrent Operating Assets	31	134	134	212	210	296	382	588	430	546
Total Liabilities & Shareholders' Equity	6,351	9,487	10,972	11,857	13,817	14,149	14,450	16,141	17,474	18,717
Total Liabilities	5,822	7,495	8,582	9,924	12,285	12,953	13,521	15,409	17,084	18,944
Total Current Liabilities	842	1,047	1,330	1,491	1,950	1,996	2,019	1,918	2,236	3,087
Short-Term Debt	88	173	146	126	389	194	309	88	121	715
Accounts Payable	220	222	289	319	1,286	1,506	369	469	540	679
Accrued Expenses	351	450	653	781	-	-	1,033	1,032	1,250	1,367
Current Deferred Revenue	183	201	242	265	274	296	307	329	326	327
Total Noncurrent Liabilities	4,980	6,449	7,252	8,433	10,335	10,957	11,502	13,491	14,848	15,856
Long-Term Debt	4,758	6,078	6,897	8,016	8,276	8,510	8,963	10,481	11,813	13,004
Noncurrent Deferred & Payable Income Tax Liabilities	55	151	156	184	188	198	224	263	235	205
Other Noncurrent Operating Liabilities	72	100	73	111	1,872	2,249	2,316	2,747	2,800	2,647
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	0.00	55	91	71	68	60	72	95	178	78
Total Equity & Noncontrolling Interests	529	1,937	2,299	1,862	1,464	1,137	857	637	212	-305
Total Preferred & Common Equity	509	1,937	2,297	1,861	1,464	1,137	856	637	212	-503
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	509	1,937	2,297	1,861	1,464	1,137	856	637	212	-503
Common Stock	1,626	3,492	4,167	4,266	4,301	4,343	4,415	4,471	4,537	4,650
Accumulated Other Comprehensive Income / (Loss)	-175	-213	-104	-266	-263	-256	-338	-442	-371	-570
Other Equity Adjustments	-942	-1,343	-1,766	-2,139	-2,575	-2,950	-3,221	-3,392	-3,954	-4,583
Noncontrolling Interest	20	0.12	1.40	1.41	0.27	0.00	1.12	0.13	0.13	198

This table presents Iron Mountain's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Assets	15,695	16,141	16,466	16,679	16,877	17,474	17,830	17,967	18,470	18,717
Total Current Assets	1,557	1,547	1,601	1,611	1,617	1,736	1,735	1,714	1,719	1,691
Cash & Equivalents	155	142	146	149	171	223	192	144	169	156
Accounts Receivable	1,134	1,175	1,174	1,182	1,168	1,260	1,268	1,274	1,243	1,291
Prepaid Expenses	268	230	280	280	279	253	275	296	307	244
Plant, Property, & Equipment, net	4,730	5,115	5,343	5,603	5,891	6,315	6,538	6,793	7,195	7,632
Plant, Property & Equipment, gross	8,794	9,026	9,287	9,547	9,878	10,374	10,647	10,977	11,549	11,986
Accumulated Depreciation	4,064	3,910	3,944	3,943	3,986	4,059	4,109	4,184	4,354	4,354
Total Noncurrent Assets	9,407	9,478	9,522	9,464	9,368	9,423	9,556	9,460	9,556	9,394
Noncurrent Note & Lease Receivables	2,556	2,584	-	2,671	2,621	2,696	2,678	2,593	2,591	2,490
Goodwill	4,831	4,883	4,897	4,928	4,938	5,018	5,107	5,100	5,198	5,084
Intangible Assets	1,445	1,423	4,047	1,349	1,353	1,280	1,331	1,284	1,277	1,275
Other Noncurrent Operating Assets	575	588	578	516	457	430	440	483	490	546
Total Liabilities & Shareholders' Equity	15,695	16,141	16,466	16,679	16,877	17,474	17,830	17,967	18,470	18,717
Total Liabilities	15,067	15,409	15,824	16,158	16,451	17,084	17,632	17,915	18,502	18,944
Total Current Liabilities	1,726	1,918	2,007	2,063	1,991	2,236	2,029	2,158	2,306	3,087
Short-Term Debt	81	88	102	103	108	121	119	125	137	715
Accounts Payable	1,362	469	512	482	448	540	525	528	587	679
Accrued Expenses	-	1,032	1,057	1,142	1,109	1,250	1,052	1,175	1,288	1,367
Current Deferred Revenue	283	329	335	336	325	326	333	330	295	327
Total Noncurrent Liabilities	13,341	13,491	13,818	14,096	14,460	14,848	15,603	15,757	16,195	15,856
Long-Term Debt	10,229	10,481	10,862	11,144	11,548	11,813	12,589	12,814	13,245	13,004
Noncurrent Deferred & Payable Income Tax Liabilities	308	263	272	273	274	235	233	231	233	205
Other Noncurrent Operating Liabilities	399	2,747	170	2,678	2,638	2,800	2,781	2,711	2,716	2,647
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	94	95	96	104	163	178	179	185	71	78
Total Equity & Noncontrolling Interests	534	637	546	416	263	212	19	-133	-102	-305
Total Preferred & Common Equity	529	637	545	416	263	212	19	-133	-259	-503
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	529	637	545	416	263	212	19	-133	-259	-503
Common Stock	4,449	4,471	4,462	4,491	4,511	4,537	4,522	4,559	4,605	4,650
Accumulated Other Comprehensive Income / (Loss)	-589	-442	-406	-382	-458	-371	-429	-461	-389	-570
Other Equity Adjustments	-3,330	-3,392	-3,511	-3,693	-3,791	-3,954	-4,074	-4,231	-4,476	-4,583
Noncontrolling Interest	4.64	0.13	0.13	0.13	0.13	0.13	0.13	0.13	157	198

This table displays calculated financial ratios and metrics derived from Iron Mountain's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-3.52%	16.74%	9.52%	9.89%	0.87%	-2.71%	8.30%	13.63%	7.38%	12.22%
EBITDA Growth	-7.64%	19.77%	17.99%	35.19%	-3.71%	2.40%	19.19%	6.88%	-13.89%	17.65%
EBIT Growth	-12.01%	7.36%	21.28%	47.84%	-8.84%	5.86%	32.32%	6.94%	-27.38%	18.81%
NOPAT Growth	-48.96%	-13.57%	61.44%	28.92%	-11.80%	34.74%	-28.56%	51.98%	-18.69%	-0.20%
Net Income Growth	-61.92%	-14.35%	60.14%	106.80%	-24.45%	27.87%	31.95%	24.17%	-66.69%	-1.92%
EPS Growth	-65.06%	-27.59%	52.38%	92.19%	-24.39%	27.96%	30.25%	22.58%	-66.84%	-3.17%
Operating Cash Flow Growth	14.55%	0.39%	32.56%	29.76%	0.00%	0.00%	-23.16%	22.24%	20.04%	7.47%
Free Cash Flow Firm Growth	-0.44%	-599.25%	102.48%	-1,233.73%	180.48%	114.03%	-68.86%	-176.71%	35.09%	-164.07%
Invested Capital Growth	-1.52%	52.62%	6.27%	16.48%	0.93%	-3.08%	2.59%	12.20%	8.43%	10.22%
Revenue Q/Q Growth	-0.84%	5.46%	1.51%	1.69%	0.43%	17.77%	-10.83%	2.40%	2.64%	2.70%
EBITDA Q/Q Growth	-0.53%	10.93%	-2.15%	14.80%	-6.04%	14.19%	-8.09%	6.16%	-4.86%	9.59%
EBIT Q/Q Growth	-0.33%	11.70%	-6.49%	25.40%	-11.90%	31.47%	-13.18%	8.80%	-9.95%	15.37%
NOPAT Q/Q Growth	-7.59%	39.79%	0.24%	19.10%	-13.25%	65.41%	-29.95%	7.78%	-5.34%	17.08%
Net Income Q/Q Growth	-5.63%	68.48%	-19.56%	68.65%	-30.04%	157.11%	-29.04%	12.89%	-34.00%	71.37%
EPS Q/Q Growth	-6.45%	82.61%	-15.79%	66.22%	-29.01%	0.00%	0.00%	12.43%	-33.68%	69.44%
Operating Cash Flow Q/Q Growth	10.30%	-15.58%	12.62%	13.17%	0.00%	0.00%	-7.88%	8.39%	7.72%	-1.29%
Free Cash Flow Firm Q/Q Growth	331.80%	5.72%	-51.85%	30.78%	-31.29%	74.90%	-50.10%	87.93%	-108.72%	23.12%
Invested Capital Q/Q Growth	0.20%	-0.46%	0.34%	-1.55%	-0.05%	-1.68%	-0.63%	-15.39%	1.58%	1.18%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	57.11%	55.35%	56.71%	57.55%	56.99%	57.63%	57.98%	57.11%	56.98%	56.15%
EBITDA Margin	25.95%	26.63%	28.69%	35.29%	33.69%	35.46%	39.02%	36.71%	29.44%	30.86%
Operating Margin	17.44%	14.28%	16.49%	19.13%	18.33%	22.54%	19.02%	20.57%	16.82%	16.42%
EBIT Margin	14.16%	13.02%	14.42%	19.40%	17.53%	19.08%	23.31%	21.94%	14.84%	15.71%
Profit (Net Income) Margin	4.16%	3.05%	4.47%	8.40%	6.29%	8.27%	10.08%	11.01%	3.42%	2.99%
Tax Burden Percent	77.25%	73.12%	85.44%	86.55%	81.77%	92.06%	71.97%	89.00%	82.42%	75.11%
Interest Burden Percent	38.05%	32.07%	36.24%	50.04%	43.90%	47.10%	60.08%	56.41%	27.94%	25.31%
Effective Tax Rate	23.27%	30.65%	11.43%	10.42%	18.26%	7.94%	28.03%	11.00%	17.58%	24.89%
Return on Invested Capital (ROIC)	7.61%	5.25%	6.80%	7.86%	6.41%	8.74%	6.26%	8.85%	6.53%	5.96%
ROIC Less NNEP Spread (ROIC-NNEP)	1.57%	0.77%	0.37%	2.63%	1.91%	2.64%	4.41%	5.03%	1.36%	1.41%
Return on Net Nonoperating Assets (RNNOA)	10.29%	3.26%	1.04%	8.57%	9.07%	16.41%	36.33%	58.82%	26.86%	219.10%
Return on Equity (ROE)	17.90%	8.51%	7.84%	16.43%	15.49%	25.15%	42.59%	67.67%	33.39%	225.06%
Cash Return on Invested Capital (CROIC)	9.14%	-36.41%	0.72%	-7.37%	5.48%	11.87%	3.71%	-2.65%	-1.56%	-3.76%
Operating Return on Assets (OROA)	6.62%	5.78%	5.42%	7.18%	5.82%	5.66%	7.32%	7.32%	4.84%	5.34%
Return on Assets (ROA)	1.95%	1.35%	1.68%	3.11%	2.09%	2.45%	3.17%	3.68%	1.11%	1.02%
Return on Common Equity (ROCE)	17.48%	8.26%	7.57%	15.80%	14.86%	23.97%	39.92%	60.79%	25.25%	-401.91%
Return on Equity Simple (ROE_SIMPLE)	24.61%	5.54%	7.47%	19.08%	18.33%	30.18%	52.89%	88.30%	88.48%	-36.51%
Net Operating Profit after Tax (NOPAT)	402	348	562	724	639	861	615	934	760	758
NOPAT Margin	13.38%	9.91%	14.60%	17.13%	14.98%	20.75%	13.69%	18.31%	13.86%	12.33%
Net Nonoperating Expense Percent (NNEP)	6.04%	4.48%	6.43%	5.23%	4.50%	6.10%	1.85%	3.83%	5.17%	4.55%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	8.34%	6.26%	5.65%
Cost of Revenue to Revenue	42.89%	44.65%	43.29%	42.45%	43.01%	42.37%	42.02%	42.89%	43.02%	43.85%
SG&A Expenses to Revenue	28.09%	28.15%	24.37%	23.83%	23.26%	22.89%	22.77%	22.35%	22.56%	21.78%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	39.68%	41.07%	40.22%	38.42%	38.66%	35.09%	38.97%	36.53%	40.16%	39.74%
Earnings before Interest and Taxes (EBIT)	426	457	555	820	747	791	1,047	1,120	813	966
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	781	935	1,103	1,491	1,436	1,471	1,753	1,873	1,613	1,898
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	6.71	2.81	2.96	3.61	4.87	6.35	15.92	21.20	93.87	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.14	1.55	1.77	1.59	1.67	1.74	3.03	2.65	3.63	5.02
Price to Earnings (P/E)	27.72	51.82	39.98	18.96	26.66	21.08	30.27	24.24	107.84	171.22
Dividend Yield	11.81%	9.72%	8.78%	10.12%	9.88%	9.87%	5.26%	5.33%	3.73%	2.60%
Earnings Yield	3.61%	1.93%	2.50%	5.27%	3.75%	4.74%	3.30%	4.13%	0.93%	0.58%
Enterprise Value to Invested Capital (EV/IC)	1.55	1.44	1.53	1.49	1.57	1.63	2.28	2.15	2.62	3.35
Enterprise Value to Revenue (EV/Rev)	2.71	3.28	3.38	3.49	3.68	3.81	5.06	4.71	5.79	7.27
Enterprise Value to EBITDA (EV/EBITDA)	10.44	12.30	11.79	9.90	10.91	10.73	12.96	12.82	19.69	23.54
Enterprise Value to EBIT (EV/EBIT)	19.14	25.15	23.46	18.00	20.96	19.95	21.70	21.46	39.05	46.25
Enterprise Value to NOPAT (EV/NOPAT)	20.26	33.06	23.17	20.39	24.53	18.34	36.95	25.71	41.80	58.93
Enterprise Value to Operating Cash Flow (EV/OCF)	15.05	21.15	18.05	15.78	0.00	15.98	29.93	25.89	28.52	37.34
Enterprise Value to Free Cash Flow (EV/FCFF)	16.87	0.00	217.43	0.00	28.69	13.50	62.41	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	9.17	3.14	2.95	4.21	5.66	7.27	9.98	14.44	30.62	-60.57
Long-Term Debt to Equity	9.00	3.05	2.89	4.15	5.40	7.11	9.64	14.32	30.31	-57.41
Financial Leverage	6.56	4.26	2.77	3.26	4.75	6.22	8.24	11.70	19.74	154.85
Leverage Ratio	9.21	6.28	4.67	5.28	7.41	10.25	13.45	18.41	29.97	221.74
Compound Leverage Factor	3.50	2.02	1.69	2.64	3.25	4.83	8.08	10.39	8.37	56.13
Debt to Total Capital	90.16%	75.84%	74.66%	80.82%	84.98%	87.91%	90.89%	93.52%	96.84%	101.68%
Short-Term Debt to Total Capital	1.64%	2.10%	1.55%	1.25%	3.82%	1.96%	3.03%	0.77%	0.98%	5.30%
Long-Term Debt to Total Capital	88.53%	73.74%	73.11%	79.56%	81.16%	85.96%	87.86%	92.75%	95.86%	96.38%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.37%	0.67%	0.98%	0.71%	0.67%	0.60%	0.72%	0.84%	1.45%	2.05%
Common Equity to Total Capital	9.47%	23.49%	24.35%	18.47%	14.36%	11.48%	8.39%	5.63%	1.72%	-3.73%
Debt to EBITDA	6.21	6.69	6.38	5.46	6.03	5.92	5.29	5.64	7.40	7.23
Net Debt to EBITDA	6.04	6.43	5.55	5.35	5.90	5.78	5.14	5.57	7.26	7.15
Long-Term Debt to EBITDA	6.09	6.50	6.25	5.38	5.76	5.79	5.11	5.59	7.32	6.85
Debt to NOPAT	12.04	17.97	12.54	11.25	13.57	10.11	15.08	11.31	15.71	18.09
Net Debt to NOPAT	11.72	17.29	10.89	11.02	13.26	9.88	14.67	11.16	15.41	17.89
Long-Term Debt to NOPAT	11.82	17.47	12.28	11.07	12.96	9.89	14.58	11.22	15.55	17.15
Altman Z-Score	1.05	0.97	1.06	0.96	0.77	0.75	1.11	1.04	1.13	1.39
Noncontrolling Interest Sharing Ratio	2.39%	2.96%	3.37%	3.81%	4.04%	4.68%	6.27%	10.16%	24.37%	278.58%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.02	1.06	1.47	0.81	0.63	0.64	0.71	0.81	0.78	0.55
Quick Ratio	0.82	0.89	1.32	0.68	0.54	0.53	0.60	0.69	0.66	0.47
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	483	-2,412	60	-678	546	1,169	364	-279	-181	-479
Operating Cash Flow to CapEx	188.13%	169.64%	215.99%	250.21%	0.00%	0.00%	228.07%	131.60%	86.61%	67.47%
Free Cash Flow to Firm to Interest Expense	1.83	-7.77	0.17	-1.66	1.30	2.79	0.87	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	2.05	1.75	2.04	2.28	0.00	2.36	1.82	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.96	0.72	1.09	1.37	0.00	2.66	1.02	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.47	0.44	0.38	0.37	0.33	0.30	0.31	0.33	0.33	0.34
Accounts Receivable Turnover	5.15	5.59	5.04	5.02	5.02	4.85	4.93	4.78	4.50	4.82
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	1.19	1.26	1.18	1.07	0.94	0.91	0.98	1.04	0.96	0.88
Accounts Payable Turnover	6.11	7.10	6.51	5.90	2.28	1.26	2.01	5.22	4.67	4.43
Days Sales Outstanding (DSO)	70.91	65.26	72.47	72.67	72.68	75.25	73.98	76.39	81.08	75.71
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	59.79	51.43	56.05	61.84	159.79	290.01	181.35	69.89	78.08	82.45
Cash Conversion Cycle (CCC)	11.12	13.83	16.41	10.83	-87.11	-214.76	-107.36	6.50	3.00	-6.75
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,246	8,006	8,508	9,910	10,003	9,695	9,946	11,159	12,100	13,337
Invested Capital Turnover	0.57	0.53	0.47	0.46	0.43	0.42	0.46	0.48	0.47	0.48
Increase / (Decrease) in Invested Capital	-81	2,760	502	1,403	93	-308	251	1,214	941	1,237
Enterprise Value (EV)	8,153	11,502	13,012	14,760	15,667	15,781	22,716	24,022	31,756	44,686
Market Capitalization	3,416	5,432	6,801	6,711	7,128	7,223	13,626	13,500	19,867	30,846
Book Value per Share	$2.41	$7.35	$8.61	$6.50	$5.10	$3.94	$2.96	$2.19	$0.72	($1.71)
Tangible Book Value per Share	($11.63)	($12.23)	($11.89)	($14.28)	($15.37)	($16.48)	($16.54)	($19.50)	($20.84)	($23.38)
Total Capital	5,374	8,243	9,434	10,076	10,196	9,900	10,201	11,301	12,323	13,493
Total Debt	4,846	6,251	7,043	8,143	8,665	8,703	9,272	10,569	11,933	13,719
Total Long-Term Debt	4,758	6,078	6,897	8,016	8,276	8,510	8,963	10,481	11,813	13,004
Net Debt	4,717	6,015	6,118	7,977	8,471	8,498	9,016	10,427	11,710	13,563
Capital Expenditures (CapEx)	288	321	334	374	527	-126	333	705	1,286	1,774
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-24	2.04	-159	-322	-518	-737	-524	-425	-603	-837
Debt-free Net Working Capital (DFNWC)	104	239	766	-156	-324	-532	-268	-283	-380	-681
Net Working Capital (NWC)	16	66	620	-283	-713	-726	-577	-370	-501	-1,396
Net Nonoperating Expense (NNE)	277	241	390	369	370	517	162	372	572	575
Net Nonoperating Obligations (NNO)	4,717	6,015	6,118	7,977	8,471	8,498	9,016	10,427	11,710	13,563
Total Depreciation and Amortization (D&A)	355	478	549	671	689	679	706	754	800	932
Debt-free, Cash-free Net Working Capital to Revenue	-0.81%	0.06%	-4.14%	-7.61%	-12.15%	-17.78%	-11.66%	-8.32%	-11.00%	-13.60%
Debt-free Net Working Capital to Revenue	3.46%	6.79%	19.93%	-3.70%	-7.60%	-12.83%	-5.96%	-5.54%	-6.93%	-11.07%
Net Working Capital to Revenue	0.53%	1.87%	16.13%	-6.69%	-16.73%	-17.50%	-12.85%	-7.26%	-9.14%	-22.70%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.58	$0.43	$0.69	$1.27	$0.93	$1.19	$1.56	$1.92	$0.63	$0.61
Adjusted Weighted Average Basic Shares Outstanding	210.76M	246.18M	265.90M	285.91M	286.97M	288.18M	289.46M	290.81M	291.94M	293.37M
Adjusted Diluted Earnings per Share	$0.58	$0.42	$0.69	$1.27	$0.93	$1.19	$1.55	$1.90	$0.63	$0.61
Adjusted Weighted Average Diluted Shares Outstanding	212.12M	247.27M	266.85M	286.65M	287.69M	288.64M	290.98M	292.44M	293.97M	296.23M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.93	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	211.51M	263.72M	285.31M	286.37M	287.34M	288.42M	289.83M	290.90M	292.28M	293.74M
Normalized Net Operating Profit after Tax (NOPAT)	405	349	564	658	626	726	640	889	894	884
Normalized NOPAT Margin	13.46%	9.93%	14.66%	15.57%	14.69%	17.51%	14.24%	17.41%	16.31%	14.38%
Pre Tax Income Margin	5.39%	4.18%	5.23%	9.71%	7.70%	8.99%	14.00%	12.38%	4.15%	3.98%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.61	1.47	1.57	2.00	1.78	1.89	2.51	0.00	0.00	0.00
NOPAT to Interest Expense	1.53	1.12	1.59	1.77	1.52	2.06	1.47	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.52	0.44	0.62	1.09	0.53	2.19	1.71	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.43	0.09	0.64	0.85	0.27	2.36	0.67	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	326.29%	473.40%	258.64%	190.40%	263.29%	209.58%	159.21%	129.39%	395.97%	431.33%
Augmented Payout Ratio	337.60%	490.74%	267.26%	195.02%	265.44%	209.58%	175.78%	130.19%	396.18%	450.50%

This table displays calculated financial ratios and metrics derived from Iron Mountain's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	13.87%	10.30%	5.31%	5.30%	7.87%	11.01%	12.36%	13.00%	12.19%	11.37%
EBITDA Growth	36.48%	29.48%	14.48%	-32.58%	-11.53%	-17.27%	16.55%	30.29%	-11.96%	42.06%
EBIT Growth	69.37%	47.89%	32.02%	-55.35%	-24.96%	-32.09%	17.63%	50.06%	-35.14%	67.73%
NOPAT Growth	97.75%	52.94%	7.13%	-83.31%	-15.60%	-19.14%	5.43%	269.57%	-18.06%	36.29%
Net Income Growth	183.26%	104.44%	57.13%	-99.43%	-52.63%	-76.77%	17.53%	2,928.96%	-136.84%	262.01%
EPS Growth	186.96%	100.00%	57.14%	-100.00%	-53.03%	-76.19%	13.64%	0.00%	-135.48%	250.00%
Operating Cash Flow Growth	189.24%	24.28%	136.32%	8.88%	2.73%	21.74%	0.95%	20.45%	14.81%	-3.49%
Free Cash Flow Firm Growth	-14,844.33%	-819.63%	76.92%	149.00%	150.97%	23.19%	304.85%	-171.88%	-173.37%	-30.32%
Invested Capital Growth	31.77%	12.20%	6.92%	-10.99%	-9.68%	8.43%	-9.01%	10.58%	10.66%	10.22%
Revenue Q/Q Growth	-0.20%	-0.61%	2.76%	3.32%	2.23%	2.28%	4.02%	3.90%	1.50%	1.54%
EBITDA Q/Q Growth	0.05%	-8.17%	-14.64%	-14.03%	31.28%	-14.13%	20.27%	-3.90%	-11.29%	38.56%
EBIT Q/Q Growth	1.08%	-17.38%	-21.56%	-31.84%	69.88%	-25.23%	35.87%	-13.05%	-26.58%	93.37%
NOPAT Q/Q Growth	-5.71%	-14.24%	-12.09%	-76.52%	376.79%	-17.83%	14.61%	-17.69%	5.71%	36.67%
Net Income Q/Q Growth	-4.42%	-34.87%	-47.84%	-98.26%	7,895.71%	-68.06%	163.84%	-55.05%	-197.24%	413.93%
EPS Q/Q Growth	-2.94%	-36.36%	-47.62%	-100.00%	0.00%	-67.74%	150.00%	-52.00%	-191.67%	418.18%
Operating Cash Flow Q/Q Growth	-26.42%	71.31%	-64.93%	146.32%	-30.57%	103.01%	-70.92%	193.90%	-33.82%	70.64%
Free Cash Flow Firm Q/Q Growth	3.10%	65.97%	28.36%	307.45%	0.80%	-151.28%	291.05%	-172.79%	-2.90%	8.93%
Invested Capital Q/Q Growth	1.04%	-15.39%	25.21%	-16.85%	2.53%	1.58%	5.07%	1.05%	2.60%	1.18%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	57.57%	57.78%	56.51%	56.36%	57.34%	57.65%	55.77%	55.95%	56.44%	56.43%
EBITDA Margin	40.41%	37.34%	31.02%	25.81%	33.14%	27.82%	32.17%	29.76%	26.01%	35.49%
Operating Margin	22.20%	19.40%	18.31%	15.65%	17.13%	16.25%	16.63%	15.01%	16.13%	17.86%
EBIT Margin	26.31%	21.88%	16.70%	11.02%	18.30%	13.38%	17.48%	14.63%	10.58%	20.15%
Profit (Net Income) Margin	14.99%	9.82%	4.99%	0.08%	6.58%	2.06%	5.22%	2.26%	-2.16%	6.68%
Tax Burden Percent	88.96%	87.84%	79.64%	21.17%	90.22%	76.40%	82.26%	72.22%	158.31%	85.07%
Interest Burden Percent	64.04%	51.13%	37.50%	3.61%	39.87%	20.11%	36.27%	21.36%	-12.90%	38.98%
Effective Tax Rate	11.04%	12.16%	20.36%	78.83%	9.78%	23.60%	17.74%	27.78%	0.00%	14.93%
Return on Invested Capital (ROIC)	8.49%	8.24%	5.58%	1.41%	6.58%	5.85%	5.79%	5.16%	5.39%	7.35%
ROIC Less NNEP Spread (ROIC-NNEP)	7.92%	7.29%	4.59%	1.03%	5.55%	4.52%	4.82%	4.05%	3.69%	6.28%
Return on Net Nonoperating Assets (RNNOA)	102.47%	85.36%	79.63%	19.09%	126.71%	89.25%	148.42%	169.18%	231.43%	972.81%
Return on Equity (ROE)	110.96%	93.60%	85.21%	20.49%	133.29%	95.10%	154.21%	174.34%	236.82%	980.16%
Cash Return on Invested Capital (CROIC)	-19.94%	-2.65%	0.30%	18.52%	16.57%	-1.56%	15.22%	-3.67%	-4.96%	-3.76%
Operating Return on Assets (OROA)	8.76%	7.30%	5.38%	3.57%	6.00%	4.36%	5.75%	4.91%	3.59%	6.85%
Return on Assets (ROA)	4.99%	3.28%	1.61%	0.03%	2.16%	0.67%	1.72%	0.76%	-0.73%	2.27%
Return on Common Equity (ROCE)	100.22%	84.09%	75.36%	17.21%	100.16%	71.93%	103.65%	86.28%	2.10%	-1,750.38%
Return on Equity Simple (ROE_SIMPLE)	94.10%	0.00%	107.43%	92.56%	108.08%	0.00%	1,072.31%	-174.78%	-41.38%	0.00%
Net Operating Profit after Tax (NOPAT)	254	218	192	45	215	176	202	166	176	240
NOPAT Margin	19.75%	17.05%	14.58%	3.31%	15.46%	12.42%	13.68%	10.84%	11.29%	15.20%
Net Nonoperating Expense Percent (NNEP)	0.57%	0.95%	0.99%	0.37%	1.02%	1.33%	0.97%	1.10%	1.70%	1.07%
Return On Investment Capital (ROIC_SIMPLE)	-	1.95%	-	-	-	1.45%	-	-	-	1.79%
Cost of Revenue to Revenue	42.43%	42.22%	43.49%	43.64%	42.66%	42.35%	44.23%	44.05%	43.56%	43.57%
SG&A Expenses to Revenue	22.17%	21.83%	22.41%	22.96%	22.69%	22.18%	21.63%	22.47%	21.96%	21.08%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	35.37%	38.38%	38.20%	40.71%	40.21%	41.40%	39.14%	40.94%	40.31%	38.57%
Earnings before Interest and Taxes (EBIT)	339	280	219	150	254	190	258	224	165	319
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	520	478	408	350	460	395	475	457	405	561
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	22.53	21.20	26.93	38.42	64.06	93.87	1,254.25	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.39	2.65	2.84	3.05	3.15	3.63	4.12	4.51	5.82	5.02
Price to Earnings (P/E)	24.03	24.24	25.36	42.16	60.45	107.84	120.02	114.53	332.90	171.22
Dividend Yield	6.03%	5.33%	4.90%	4.51%	4.35%	3.73%	3.23%	2.90%	2.24%	2.60%
Earnings Yield	4.16%	4.13%	3.94%	2.37%	1.65%	0.93%	0.83%	0.87%	0.30%	0.58%
Enterprise Value to Invested Capital (EV/IC)	1.86	2.15	2.01	2.34	2.39	2.62	2.83	3.06	3.66	3.35
Enterprise Value to Revenue (EV/Rev)	4.93	4.71	5.44	5.19	5.33	5.79	6.37	6.75	8.07	7.27
Enterprise Value to EBITDA (EV/EBITDA)	13.93	12.82	14.61	15.49	16.79	19.69	21.39	21.97	27.89	23.54
Enterprise Value to EBIT (EV/EBIT)	23.89	21.46	23.97	27.54	31.52	39.05	42.19	42.35	57.68	46.25
Enterprise Value to NOPAT (EV/NOPAT)	28.35	25.71	29.74	32.00	35.47	41.80	46.55	50.30	74.58	58.93
Enterprise Value to Operating Cash Flow (EV/OCF)	28.72	25.89	28.06	26.46	27.54	28.52	32.24	33.27	39.84	37.34
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	691.03	11.91	13.69	0.00	17.70	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	20.26	14.44	21.02	21.61	27.37	30.62	64.22	248.30	-419.88	-60.57
Long-Term Debt to Equity	20.13	14.32	20.86	21.41	27.11	30.31	63.62	245.90	-415.60	-57.41
Financial Leverage	12.94	11.70	17.35	18.48	22.82	19.74	30.80	41.73	62.68	154.85
Leverage Ratio	17.98	18.41	21.78	25.51	30.92	29.97	40.87	60.51	89.71	221.74
Compound Leverage Factor	11.52	9.41	8.17	0.92	12.33	6.03	14.82	12.92	-11.58	86.44
Debt to Total Capital	95.30%	93.52%	95.46%	95.58%	96.47%	96.84%	98.47%	99.60%	100.24%	101.68%
Short-Term Debt to Total Capital	0.61%	0.77%	0.72%	0.87%	0.89%	0.98%	0.92%	0.97%	1.02%	5.30%
Long-Term Debt to Total Capital	94.69%	92.75%	94.74%	94.71%	95.58%	95.86%	97.55%	98.63%	99.22%	96.38%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.74%	0.84%	0.68%	0.89%	1.35%	1.45%	1.39%	1.42%	1.70%	2.05%
Common Equity to Total Capital	3.97%	5.63%	3.86%	3.54%	2.17%	1.72%	0.14%	-1.02%	-1.94%	-3.73%
Debt to EBITDA	7.21	5.64	7.00	6.41	6.87	7.40	7.56	7.24	7.73	7.23
Net Debt to EBITDA	7.12	5.57	6.93	6.32	6.77	7.26	7.45	7.16	7.63	7.15
Long-Term Debt to EBITDA	7.16	5.59	6.95	6.35	6.81	7.32	7.49	7.17	7.65	6.85
Debt to NOPAT	14.67	11.31	14.25	13.24	14.52	15.71	16.46	16.58	20.66	18.09
Net Debt to NOPAT	14.49	11.16	14.10	13.06	14.31	15.41	16.21	16.40	20.40	17.89
Long-Term Debt to NOPAT	14.57	11.22	14.15	13.12	14.39	15.55	16.30	16.42	20.45	17.15
Altman Z-Score	0.85	0.87	0.89	0.91	0.95	1.01	1.14	1.22	1.45	1.27
Noncontrolling Interest Sharing Ratio	9.68%	10.16%	11.55%	16.03%	24.85%	24.37%	32.79%	50.51%	99.11%	278.58%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.90	0.81	0.80	0.78	0.81	0.78	0.86	0.79	0.75	0.55
Quick Ratio	0.75	0.69	0.66	0.65	0.67	0.66	0.72	0.66	0.61	0.47
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-2,926	-996	-713	1,479	1,491	-765	1,461	-1,063	-1,094	-996
Operating Cash Flow to CapEx	88.00%	161.41%	55.94%	94.68%	62.55%	121.48%	34.63%	96.40%	63.93%	71.22%
Free Cash Flow to Firm to Interest Expense	-24.03	0.00	-5.20	10.26	0.00	0.00	8.88	-6.02	0.00	0.00
Operating Cash Flow to Interest Expense	1.76	0.00	0.94	2.20	0.00	0.00	0.79	2.17	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-0.24	0.00	-0.74	-0.12	0.00	0.00	-1.49	-0.08	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.33	0.33	0.32	0.32	0.33	0.33	0.33	0.34	0.34	0.34
Accounts Receivable Turnover	4.94	4.78	4.62	4.56	4.64	4.50	4.62	4.74	4.97	4.82
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	1.07	1.04	1.03	1.02	1.01	0.96	0.95	0.94	0.92	0.88
Accounts Payable Turnover	2.52	5.22	4.73	2.40	2.54	4.67	4.70	4.99	5.04	4.43
Days Sales Outstanding (DSO)	73.89	76.39	79.00	80.08	78.65	81.08	78.99	77.03	73.48	75.71
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	144.59	69.89	77.18	152.08	143.86	78.08	77.59	73.08	72.41	82.45
Cash Conversion Cycle (CCC)	-70.70	6.50	1.83	-72.00	-65.21	3.00	1.40	3.94	1.07	-6.75
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	13,188	11,159	13,972	11,618	11,912	12,100	12,714	12,847	13,182	13,337
Invested Capital Turnover	0.43	0.48	0.38	0.42	0.43	0.47	0.42	0.48	0.48	0.48
Increase / (Decrease) in Invested Capital	3,180	1,214	905	-1,434	-1,277	941	-1,259	1,230	1,270	1,237
Enterprise Value (EV)	24,581	24,022	28,118	27,193	28,465	31,756	35,943	39,251	48,298	44,686
Market Capitalization	11,922	13,500	14,691	15,991	16,816	19,867	23,248	26,271	34,857	30,846
Book Value per Share	$1.82	$2.19	$1.88	$1.43	$0.90	$0.72	$0.06	($0.45)	($0.88)	($1.71)
Tangible Book Value per Share	($19.77)	($19.50)	($28.87)	($20.10)	($20.66)	($20.84)	($21.93)	($22.23)	($22.96)	($23.38)
Total Capital	13,344	11,301	14,119	11,767	12,082	12,323	12,905	12,992	13,350	13,493
Total Debt	12,716	10,569	13,478	11,247	11,656	11,933	12,707	12,940	13,382	13,719
Total Long-Term Debt	12,635	10,481	13,376	11,144	11,548	11,813	12,589	12,814	13,245	13,004
Net Debt	12,561	10,427	13,331	11,097	11,486	11,710	12,516	12,795	13,213	13,563
Capital Expenditures (CapEx)	244	228	230	335	352	368	376	396	396	606
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-243	-425	-450	-498	-437	-603	-367	-463	-619	-837
Debt-free Net Working Capital (DFNWC)	-88	-283	-304	-349	-266	-380	-175	-319	-451	-681
Net Working Capital (NWC)	-169	-370	-406	-451	-374	-501	-294	-444	-587	-1,396
Net Nonoperating Expense (NNE)	61	92	126	44	123	147	125	132	209	135
Net Nonoperating Obligations (NNO)	12,561	10,427	13,331	11,097	11,486	11,710	12,516	12,795	13,213	13,563
Total Depreciation and Amortization (D&A)	181	198	188	201	206	205	217	232	240	243
Debt-free, Cash-free Net Working Capital to Revenue	-4.88%	-8.32%	-8.71%	-9.51%	-8.18%	-11.00%	-6.50%	-7.96%	-10.34%	-13.60%
Debt-free Net Working Capital to Revenue	-1.76%	-5.54%	-5.88%	-6.66%	-4.99%	-6.93%	-3.10%	-5.48%	-7.53%	-11.07%
Net Working Capital to Revenue	-3.39%	-7.26%	-7.85%	-8.62%	-7.01%	-9.14%	-5.21%	-7.64%	-9.81%	-22.70%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.66	$0.42	$0.22	$0.00	$0.31	$0.10	$0.25	$0.12	($0.11)	$0.35
Adjusted Weighted Average Basic Shares Outstanding	290.94M	290.81M	291.44M	291.83M	292.15M	291.94M	292.75M	293.34M	293.60M	293.37M
Adjusted Diluted Earnings per Share	$0.66	$0.42	$0.22	$0.00	$0.31	$0.10	$0.25	$0.12	($0.11)	$0.35
Adjusted Weighted Average Diluted Shares Outstanding	292.55M	292.44M	293.05M	293.53M	294.27M	293.97M	295.22M	295.84M	293.60M	296.23M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	290.71M	290.90M	291.62M	291.85M	291.99M	292.28M	293.13M	293.34M	293.46M	293.74M
Normalized Net Operating Profit after Tax (NOPAT)	245	228	211	180	246	222	236	202	205	270
Normalized NOPAT Margin	19.01%	17.83%	16.03%	13.23%	17.70%	15.65%	15.97%	13.16%	13.19%	17.06%
Pre Tax Income Margin	16.85%	11.18%	6.26%	0.40%	7.30%	2.69%	6.34%	3.12%	-1.37%	7.86%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.78	0.00	1.60	1.04	0.00	0.00	1.57	1.27	0.00	0.00
NOPAT to Interest Expense	2.09	0.00	1.40	0.31	0.00	0.00	1.23	0.94	0.00	0.00
EBIT Less CapEx to Interest Expense	0.78	0.00	-0.08	-1.29	0.00	0.00	-0.71	-0.97	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.09	0.00	-0.28	-2.01	0.00	0.00	-1.05	-1.30	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	145.84%	129.39%	124.55%	189.69%	257.91%	395.97%	378.60%	328.26%	720.63%	431.33%
Augmented Payout Ratio	145.84%	130.19%	124.55%	189.69%	257.91%	396.18%	378.60%	328.26%	753.85%	450.50%

Frequently Asked Questions About Iron Mountain's Financials

When does Iron Mountain's fiscal year end?

According to the most recent income statement we have on file, Iron Mountain's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Iron Mountain's net income changed over the last 9 years?

Iron Mountain's net income appears to be on an upward trend, with a most recent value of $183.67 million in 2024, rising from $125.20 million in 2015. The previous period was $187.26 million in 2023.

What is Iron Mountain's operating income?

Iron Mountain's total operating income in 2024 was $1.01 billion, based on the following breakdown:

Total Gross Profit: $3.45 billion
Total Operating Expenses: $2.44 billion

How has Iron Mountain revenue changed over the last 9 years?

Over the last 9 years, Iron Mountain's total revenue changed from $3.01 billion in 2015 to $6.15 billion in 2024, a change of 104.5%.

How much debt does Iron Mountain have?

Iron Mountain's total liabilities were at $18.94 billion at the end of 2024, a 10.9% increase from 2023, and a 225.4% increase since 2015.

How much cash does Iron Mountain have?

In the past 9 years, Iron Mountain's cash and equivalents has ranged from $128.38 million in 2015 to $925.70 million in 2017, and is currently $155.72 million as of their latest financial filing in 2024.

How has Iron Mountain's book value per share changed over the last 9 years?

Over the last 9 years, Iron Mountain's book value per share changed from 2.41 in 2015 to -1.71 in 2024, a change of -171.1%.

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This page (NYSE:IRM) was last updated on 4/15/2025 by MarketBeat.com Staff

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Iron Mountain (IRM) Financials

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Iron Mountain (IRM) Financials

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