Iron Mountain Inc is an information management services provider organized and operated as a real estate investment trust. The company offers solutions to its clients to address their information management, digital transformation, information security, data center, and asset lifecycle management (ALM) needs. Its customers come from various industries, including commercial, legal, financial, healthcare, technology, etc. The company has two reportable segments: Global Records and Information Management (Global RIM) and Global Data Center. Maximum revenue is generated from the Global RIM segment, which offers data and records management, secure shredding, consumer storage, and other related services. Geographically, the company generates maximum revenue from the United States.
The chart shows the growth of an initial investment of $10,000 in Iron Mountain Inc., comparing it to the performance of the S&P 500 index.
All prices have been adjusted for splits and dividends.
Iron Mountain Inc. (IRM) has returned 24.46% so far this year and 37.51% over the past 12 months. Looking at the last ten years, IRM has achieved an annualized return of 12.18%, underperforming the Benchmark (SPY), which averaged 12.23% per year.
The table below presents the monthly returns of Iron Mountain Inc. (IRM) with color gradation from worst to best to easily spot seasonal factors.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 11.00% | 18.34% | -4.78% | 0.23% | ||||||||
| 2025 | -3.51% | -6.43% | -7.32% | 1.55% | 9.69% | 4.46% | -4.57% | -5.01% | 11.96% | 1.17% | -15.76% | -1.83% |
| 2024 | -3.40% | 16.62% | 2.62% | -3.35% | 3.90% | 10.60% | 14.85% | 7.87% | 5.29% | 3.97% | -0.97% | -14.54% |
| 2023 | 8.57% | -2.76% | 0.92% | 4.70% | -3.08% | 6.25% | 8.75% | 3.87% | -6.77% | -0.39% | 8.42% | 9.31% |
| 2022 | -12.48% | 6.91% | 11.87% | -3.33% | 0.50% | -9.80% | -0.37% | 9.19% | -15.69% | 12.01% | 7.56% | -9.31% |
| 2021 | 12.23% | 2.78% | 5.14% | 7.79% | 8.42% | -3.25% | 2.96% | 8.30% | -9.02% | 4.56% | -0.53% | 13.86% |
| 2020 | -0.91% | -4.04% | -22.30% | 5.27% | 8.83% | 1.28% | 7.27% | 7.27% | -10.79% | -2.91% | 4.56% | 6.93% |
| 2019 | 16.25% | -4.91% | -0.11% | -8.43% | -5.55% | 1.79% | -6.90% | 5.85% | 1.89% | 1.77% | -2.07% | -0.72% |
| 2018 | -7.33% | -9.96% | 4.78% | 3.26% | -2.00% | 4.98% | 0.60% | 3.59% | -4.43% | -11.58% | 10.54% | -5.07% |
| 2017 | 9.11% | 1.56% | -2.25% | -2.22% | -0.09% | -1.80% | 5.14% | 8.39% | -1.37% | 3.01% | 1.72% | -7.73% |
| 2016 | 9.83% | -1.66% | 8.97% | 3.23% | -6.84% | -2.47% | -10.08% | -0.87% | -1.55% |
The charts below present risk-adjusted performance metrics for Iron Mountain Inc. (IRM) and compare them to a Benchmark (SPY). These indicators evaluate an investment's returns against its associated risks.
The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.
These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns.
The chart below shows the rolling Sharpe ratio of IRM compared to the benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.
The current Iron Mountain Inc. volatility is 1.93%, representing the standart deviation of percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.
The Drawdowns chart displays portfolio losses from any high point along the way. It shows the maximum percentage drop from a peak to a trough over a specified period, indicating the risk of significant losses.
Although chart shows positive values, it represents the percentage drop from the peak, so a value of 10% means the portfolio has dropped 10% from its highest point.
The income statement provides a summary of a company's revenues, expenses, and profits over a specific period. It shows how much money the company earned (revenues) and how much it spent (expenses), leading to the net income or profit. This statement is crucial for understanding a company's financial performance and profitability.
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Liabilities And Equity (USD) | 21.13B | 18.72B | 17.47B | 16.14B | 14.45B | 14.15B | 13.82B | 11.85B | 10.97B | 9.49B | 6.35B |
| Temporary Equity (USD) | 64.42M | 78.17M | 177.95M | 95.16M | 72.41M | 59.81M | 67.68M | 70.53M | 91.42M | 54.70M | - |
| Equity Attributable To Parent (USD) | -981.01M | -503.12M | 211.65M | 636.67M | 855.95M | 1.14B | 1.46B | 1.88B | 2.30B | 1.94B | 508.84M |
| Equity Attributable To Noncontrolling Interest (USD) | 271.68M | 198.45M | 125.00K | 125.00K | 1.12M | - | 265.00K | 1.41M | 1.40M | 124.00K | 19.77M |
| Equity (USD) | -709.33M | -304.67M | 211.77M | 636.79M | 857.07M | 1.14B | 1.46B | 1.89B | 2.30B | 1.94B | 528.61M |
| Redeemable Noncontrolling Interest (USD) | 64.42M | 78.17M | 177.95M | 95.16M | 72.41M | 59.81M | 67.68M | 70.53M | 91.42M | 54.70M | - |
| Other Non-current Liabilities (USD) | 2.78B | 2.22B | 3.09B | 3.02B | 2.30B | 2.31B | 1.74B | 361.16M | 300.12M | 252.39M | 134.47M |
| Long-term Debt (USD) | 16.43B | 13.72B | 11.93B | 10.57B | 9.27B | 8.70B | 8.66B | 8.14B | 7.04B | 6.25B | 4.85B |
| Noncurrent Liabilities (USD) | 19.21B | 15.93B | 15.03B | 13.59B | 11.57B | 11.02B | 10.40B | 8.50B | 7.34B | 6.50B | 4.98B |
| Other Current Liabilities (USD) | 1.66B | 2.16B | 1.70B | 1.45B | 1.65B | 1.64B | 1.62B | 1.14B | 1.04B | 824.36M | 622.24M |
| Wages (USD) | 253.44M | 244.50M | - | - | - | - | - | - | - | - | - |
| Accounts Payable (USD) | 710.66M | 678.72M | 539.59M | 469.20M | 369.15M | 359.86M | 324.71M | 318.77M | 289.14M | 222.20M | 219.59M |
| Current Liabilities (USD) | 2.62B | 3.09B | 2.24B | 1.92B | 2.02B | 2.00B | 1.95B | 1.46B | 1.33B | 1.05B | 841.83M |
| Liabilities (USD) | 21.83B | 19.02B | 17.26B | 15.50B | 13.59B | 13.01B | 12.35B | 9.97B | 8.67B | 7.55B | 5.82B |
| Other Non-current Assets (USD) | 17.92B | 15.75B | 14.46B | 13.17B | - | - | - | 6.15B | 5.60B | 5.29B | 3.00B |
| Intangible Assets (USD) | 1.27B | 1.27B | 1.28B | 1.42B | - | - | - | - | - | - | - |
| Fixed Assets (USD) | - | - | - | - | - | - | - | 4.49B | 3.42B | 3.08B | 2.50B |
| Noncurrent Assets (USD) | 19.19B | 17.03B | 15.74B | 14.59B | 13.01B | 12.88B | 12.58B | 10.64B | 9.02B | 8.37B | 5.49B |
| Other Current Assets (USD) | 1.79B | 1.56B | 1.61B | 1.42B | - | - | - | - | - | - | - |
| Prepaid Expenses (USD) | 145.26M | 131.62M | 126.90M | 114.13M | - | - | - | - | - | - | - |
| Inventory (USD) | - | - | - | 11.73M | - | - | - | - | - | - | - |
| Current Assets (USD) | 1.93B | 1.69B | 1.74B | 1.55B | 1.44B | 1.27B | 1.24B | 1.21B | 1.95B | 1.11B | 857.91M |
| Assets (USD) | 21.13B | 18.72B | 17.47B | 16.14B | 14.45B | 14.15B | 13.82B | 11.85B | 10.97B | 9.49B | 6.35B |
Iron Mountain, US Foods, and West Pharmaceutical Services reported strong Q4 2025 earnings. Iron Mountain posted record results with 16.6% revenue growth driven by data center and digital services, projecting 10-13% revenue growth for 2026. US Foods achieved 178.8% net income growth despite softer economic conditions, while West Pharmaceutical delivered 7.5% revenue growth with strong performance in high-value product components.
As AI-driven data center buildouts accelerate, power and real estate have become critical bottlenecks rather than computing capacity. Major tech companies are securing their own energy sources through nuclear power deals and renewable energy partnerships. Investors can gain exposure through direct data center operators, REITs, and ancillary 'picks and shovels' companies providing infrastructure, cooling, electrical systems, and engineering services.
As economic uncertainty rises in fall 2025, investors are seeking defensive investment strategies, with real estate investment trusts (REITs) offering potential stability through high dividend yields and infrastructure-related opportunities.
Iron Mountain reported Q2 2025 revenue of $1.71 billion, up 11.6% year-over-year, with strong growth in data center and digital services. Despite robust revenue, the company experienced a net loss due to higher operating costs and foreign exchange movements.
Iron Mountain, a document and records management company, reported strong Q4 2024 results with revenue and earnings growth. However, the company slightly missed analyst expectations, leading to a 7% drop in its share price on the day.
The Singapore data center market is expected to see significant growth, with over 25MW of power capacity to be installed by 2025, primarily in the eastern region. By 2030, the market is projected to add more than 130MW of power capacity and 15,550 rack spaces, with the eastern and southern regions accounting for over 50% of the existing capacity.
The stock market fell on Monday, with data center stocks like Equinix, Digital Realty Trust, and Iron Mountain taking a hit due to concerns about the impact of a new AI language model developed by a Chinese startup, DeepSeek, on the data center industry.
The global hyperscale data center market is expected to grow from $184.48 billion in 2023 to $304.73 billion by 2029, driven by the rise of AI, big data, IoT, and cloud services. The major players in the market include AWS, Microsoft, Meta, Google, Digital Realty, and others.
REITs have rallied sharply over the past year, largely due to the expectation of falling interest rates. Several high-quality REITs remain well below their peaks from a few years ago, making the sector still enticing for those seeking income and upside potential.
Iron Mountain, a specialty REIT, outperformed the S&P 500 in the first half of 2024 due to its growing focus on data centers and strong financial position. The company is well-positioned to continue its growth trajectory, but its current valuation may not appeal to value-conscious or income-focused investors.
