IRON MOUNTAIN INC

10-K & 10-Q Filings

Iron Mountain Incorporated is a Delaware corporation and a real estate investment trust (REIT) that provides information management solutions and data center services to organizations around the world. The company was founded in 1951 and has approximately 27,000 employees as of December 31, 2023. Iron Mountain's business strategy focuses on revenue growth in physical storage through revenue management actions and complementary business growth, utilizing its global scale to deliver differentiated data center offerings, establishing and maintaining a leadership position in critical digital infrastructure, and increasing investment in its growth agenda. The company operates in three business segments: Global Records and Information Management (Global RIM), Global Data Center Business, and Corporate and Other. Global RIM includes Records Management, Data Management, Global Digital Solutions, Secure Shredding, Entertainment Services, and Consumer Storage. Global Data Center Business provides enterprise-class data center facilities and hyperscale-ready capacity to protect mission-critical assets and ensure the continued operation of customers' IT infrastructure. Corporate and Other consists primarily of Fine Arts and ALM businesses and other corporate items. Iron Mountain's website is www.ironmountain.com, and its common stock is listed on the New York Stock Exchange under the ticker symbol "IRM". The company's business attributes include being a large, diversified, global business with recurring, durable revenue streams, a comprehensive information management solution, and significant owner and operator of real estate. Iron Mountain competes with thousands of storage and information management services providers, data center developers, owners, and operators, and hyperscalers in various markets. The company provides benefits to its employees, including health and welfare benefits, paid time off, and programs to support financial security, and has a culture that values learning, collaboration, diversity, and well-being. Iron Mountain is committed to integrating responsible and sustainable practices throughout its organization and giving back to the communities where it operates.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$3014.70
3005.26
3025.92
3117.69
3007.98
3511.45
3845.58
4225.76
4262.58
4147.27
4491.53
5103.57
5480.29
1314.35
1476.86
5.11%12.36%Cost of Revenue (-)
$
1288.88
1344.64
1290.03
1567.78
1685.32
1801.58
1833.32
1757.34
1887.23
2189.12
2357.80
571.63
653.25
14.28%Gross Profit (+)
$
1737.04
1773.06
1717.95
1943.68
2160.26
2014.89
2429.27
2389.93
2604.30
2426.44
2536.56
605.55
659.09
8.84%Selling, General & Administrative (-)
$834.59
850.37
924.03
869.57
844.96
988.33
984.97
1038.97
991.66
949.22
1022.56
1140.58
1236.29
294.52
319.46
3.33%8.47%Depreciation & Amortization (-)
$319.50
316.34
322.04
353.14
345.46
452.33
522.38
639.51
658.20
652.07
680.42
727.60
776.16
182.09
209.56
7.68%15.08%Non-recurring Operating Expenses (-)
$
48.60
217.40
206.43
Operating Expenses (-)
$1154.09
1166.72
1246.07
1222.72
1190.42
1440.66
1507.34
1678.49
1647.93
1455.14
1750.13
1868.17
2200.71
502.06
577.99
5.53%15.12%Costs & Expenses (Total) (-)
$2443.50
2448.23
2533.53
2568.42
2483.45
3009.85
3196.47
3470.25
3481.25
3212.49
3637.36
4053.70
4558.51
1073.69
1231.24
5.33%14.67%Operating Income/Loss (+)
$571.20
557.03
492.39
549.28
524.53
501.61
649.11
755.51
781.34
934.78
854.17
1049.87
921.78
240.66
245.62
4.07%2.06%Non-operating Income/Expense (+)
$13.04
-16.06
75.20
-65.19
-98.59
-44.30
-79.43
11.69
-33.90
-143.54
192.80
69.78
-108.64
-21.20
12.53
159.10%Interest Expense (-)
$205.26
242.60
254.17
260.72
Earnings before Tax (+)
$352.90
298.37
163.02
231.68
162.92
148.82
217.67
413.24
328.14
372.70
629.01
631.64
227.21
82.29
93.63
-3.60%13.78%Tax Expense (-)
$106.49
114.87
63.06
-97.28
37.71
44.94
25.95
36.26
59.93
29.61
176.29
69.49
39.94
16.76
16.61
-7.85%-0.89%Income/Loss (Continuing Operations) (+)
$246.41
183.49
99.96
328.95
125.20
103.88
191.72
376.98
268.21
343.10
452.73
562.15
187.26
65.54
77.03
-2.26%17.53%Income/Loss (Discontinued Operations) (+)
$153.18
-8.66
0.83
-0.21
3.35
-6.29
-12.43
0.10
Profit/Loss (+)
$399.59
174.83
100.79
328.75
125.20
107.23
185.43
364.55
268.31
343.10
452.73
562.15
187.26
65.53
77.03
-6.12%17.53%Net Income/Loss (NCI) (-)
$4.05
3.13
3.53
2.63
1.96
2.41
1.61
1.20
0.94
0.40
2.51
5.17
3.03
0.94
2.96
-2.40%215.32%Net Income/Loss (+)
$395.54
171.71
97.26
326.12
123.24
104.82
183.82
363.35
267.38
342.69
450.22
556.98
184.23
64.59
74.06
-6.17%14.65%Net Income/Loss (Common) (+)
$395.54
171.71
97.26
326.12
123.24
104.82
183.82
363.35
267.38
342.69
450.22
556.98
184.23
64.59
74.06
-6.17%14.65%EPS (Basic)
$2.03
0.99
0.51
1.67
0.58
0.43
0.69
1.27
0.93
1.19
1.56
1.92
0.63
0.22
0.25
-9.29%13.64%EPS (Diluted)
$2.02
0.98
0.51
1.66
0.58
0.42
0.69
1.27
0.93
1.19
1.55
1.90
0.63
0.22
0.25
-9.25%13.64%Weighted Avg Shares (Basic)
194.78
173.60
190.99
195.28
210.76
246.18
265.90
285.91
286.97
288.18
289.46
290.81
291.94
291.44
292.75
3.43%0.45%Weighted Avg Shares (Diluted)
195.94
174.87
192.41
196.75
212.12
247.27
266.85
286.65
287.69
288.64
290.98
292.44
293.96
293.05
295.22
3.44%0.74%Cash
$214.95
277.03
154.39
159.79
128.38
236.48
947.87
165.49
193.56
205.06
255.83
141.80
222.79
146.44
191.66
0.30%30.87%Receivables
$543.47
572.20
616.80
604.26
564.40
691.25
835.74
846.89
850.70
859.34
961.42
1174.91
1259.83
1174.33
1268.06
7.26%7.98%Prepaid Expenses (Current)
$105.54
164.71
144.80
139.47
142.95
184.37
188.87
195.74
192.08
205.38
224.02
230.43
252.93
280.17
275.36
7.56%-1.72%Property, Plant & Equipment (Net)
$2407.08
2477.73
2578.26
2550.73
2497.16
3083.33
3417.68
4489.56
4623.04
4502.44
4668.14
5115.44
6314.87
5342.57
6538.14
8.37%22.38%Accumulated Depreciation
$1825.51
-1965.60
-2052.81
2117.98
2247.08
2452.46
2833.42
3111.39
3425.87
Goodwill & Intangibles
$2254.27
2334.76
2463.35
2423.78
2360.98
3905.02
4070.27
5947.55
5878.39
5884.59
5644.57
6305.88
6297.71
6277.08
6438.11
8.94%2.57%Other Assets
$515.95
2497.51
2748.22
692.30
656.72
1386.35
1534.14
207.02
209.95
2492.45
2696.05
3172.05
3125.68
3245.12
3118.23
16.20%-3.91%Assets (Total)
$6041.26
6358.34
6653.01
6570.34
6350.59
9486.80
10972.40
11852.25
13816.82
14149.27
14450.03
16140.51
17473.80
16465.71
17829.56
9.25%8.28%Accounts Payable
$575.21
594.93
677.79
607.50
570.65
672.45
942.28
1071.45
1286.46
1506.15
1401.68
1501.11
1789.85
1569.59
1577.35
9.92%0.49%Debt (Current)
$73.32
92.89
52.58
52.09
88.07
172.97
146.30
126.41
389.01
193.76
309.43
87.55
120.67
101.61
118.77
4.24%16.89%Debt (Non-current)
$3280.27
3732.12
4119.14
4611.44
4757.61
6078.21
6896.97
8016.42
10004.25
8509.56
8962.51
10481.45
11812.50
10862.19
12588.57
11.27%15.89%Other Liabilities
$858.20
775.95
745.65
429.36
405.65
626.49
688.01
752.39
672.86
2803.07
2919.34
3433.62
3539.01
3386.73
3526.20
12.53%4.12%Liabilities (Total)
$4787.00
5195.89
5595.17
5700.39
5821.98
7550.13
8673.56
9966.66
12352.59
13012.54
13592.96
15503.72
17262.03
15920.12
17810.90
11.28%11.88%Retained Earnings
$902.57
185.56
73.92
AOCI
$-2.20
20.31
-8.66
-75.03
-174.92
-212.57
-103.99
-265.66
-262.58
-255.89
-338.35
-442.00
-371.16
-405.77
-428.80
-5.68%Shareholder's Equity
$1254.26
1162.45
1057.83
869.96
528.61
1936.67
2298.84
1885.59
1464.23
1136.73
857.07
636.79
211.77
545.59
18.66
-13.78%-96.58%Liabilities & Equity
$6041.26
6358.34
6653.01
6570.34
6350.59
9486.80
10972.40
11852.25
13816.82
14149.27
14450.03
16140.51
17473.80
16465.71
17829.56
9.25%8.28%Net Income/Loss
$399.59
174.83
100.79
328.75
125.20
107.23
185.43
364.55
268.31
343.10
452.73
562.15
187.26
65.53
77.03
-6.12%17.53%Depreciation & Amortization
$325.82
323.29
329.30
361.15
354.71
365.53
406.28
452.74
674.94
669.45
696.97
745.64
793.02
186.43
215.66
7.69%15.68%Increase/Decrease in Working Capital
$9.46
43.08
5.37
33.05
43.40
60.81
101.95
50.29
-8.76
-134.35
131.67
252.44
40.59
162.98
174.43
12.91%7.02%Share-based Compensation
$17.25
30.36
30.35
29.62
27.59
28.98
30.02
31.17
35.65
37.67
61.00
56.86
73.80
12.51
14.04
12.88%12.23%Adjustments to Reconcile Net Income
$215.85
257.90
406.75
143.99
416.56
437.34
532.54
571.00
698.44
644.56
306.18
365.55
926.30
63.27
53.01
12.91%-16.22%Net Cash (Operating)
$615.44
432.74
507.55
472.95
541.76
543.89
720.97
935.55
966.65
987.66
758.90
927.70
1113.57
128.81
130.04
5.07%0.95%Capital Expenditure
$-310.00
-393.82
-636.67
479.98
456.65
632.70
579.39
2195.02
650.40
14.78
407.39
1584.03
1343.36
247.17
498.02
101.49%Net Cash (Investing)
$78.51
-400.20
-637.69
-479.98
-422.79
-535.99
-599.45
-2221.88
-730.88
-85.44
-473.31
-1660.42
-1444.36
-272.54
-525.61
-92.85%Increase/Decrease in Debt
$394.00
459.17
1467.44
76.07
170.27
925.44
910.09
987.50
522.45
737.81
1356.31
1184.25
358.70
749.13
9.60%108.84%Increase/Decrease in Equity
$-908.22
-0.07
26.37
40.44
-7.01
13.32
-1.70
-8.83
-4.73
-25.15
25.86
-4.85
-8.75
Interest Expenses
$203.03
231.94
243.38
257.60
259.81
297.12
368.47
388.44
394.98
390.33
428.11
482.67
512.45
204.90
274.80
8.02%34.11%Dividends Paid
$-172.62
-318.85
-206.80
542.30
406.51
505.87
440.00
673.63
704.53
716.29
718.34
724.39
737.65
186.51
198.01
6.17%Net Cash (Financing)
$-763.81
28.23
18.56
19.86
-108.51
125.37
540.42
550.68
-198.97
-886.70
-220.81
639.21
425.67
149.90
362.10
141.56%Cash Taxes Paid
$148.00
228.61
125.62
167.45
42.44
69.87
104.50
64.49
61.69
43.47
130.29
99.63
89.60
18.63
18.61
-4.10%-0.09%Effect of Exchange Rate
$-8.99
2.80
-11.31
-7.42
-8.02
-25.17
27.27
-24.56
-8.73
-4.01
-14.02
-20.51
-13.88
-1.52
2.34
253.71%Increase/Decrease in Cash
$-78.85
63.57
-122.89
5.41
2.45
108.10
689.22
-760.21
28.07
11.51
50.77
-114.03
80.99
4.64
-31.13
-770.27%Cash (Beginning)
$258.69
179.84
243.41
120.53
125.93
128.38
236.48
925.70
165.49
193.56
205.06
255.83
141.80
141.80
222.79
-4.89%57.12%Cash (Ending)
$179.84
243.41
120.53
125.93
128.38
236.48
925.70
165.49
193.56
205.06
255.83
141.80
222.79
146.44
191.66
1.80%30.87%NOPAT
$571.20
557.03
492.39
549.28
524.53
501.61
649.11
755.51
781.34
934.78
854.17
1049.87
921.78
240.66
245.62
4.07%2.06%Gross Margin %
57.41%
56.87%
57.11%
55.35%
56.18%
47.68%
56.99%
57.63%
57.98%
47.54%
46.29%
46.07%
44.63%
Operating Margin %
18.95%
18.54%
16.27%
17.62%
17.44%
14.28%
16.88%
17.88%
18.33%
22.54%
19.02%
20.57%
16.82%
18.31%
16.63%
NOPAT Margin %
18.95%
18.54%
16.27%
17.62%
17.44%
14.28%
16.88%
17.88%
18.33%
22.54%
19.02%
20.57%
16.82%
18.31%
16.63%
Net Margin %
13.12%
5.71%
3.21%
10.46%
4.10%
2.99%
4.78%
8.60%
6.27%
8.26%
10.02%
10.91%
3.36%
4.91%
5.01%
ROA
9.45%
8.76%
7.40%
8.36%
8.26%
5.29%
5.92%
6.37%
5.65%
6.61%
5.91%
6.50%
5.28%
1.46%
1.38%
ROE
45.54%
47.92%
46.55%
63.14%
99.23%
25.90%
28.24%
40.07%
53.36%
82.23%
99.66%
164.87%
435.27%
44.11%
1316.31%
Equity Multiplier
4.82
5.47
6.29
7.55
12.01
4.90
4.77
6.29
9.44
12.45
16.86
25.35
82.51
30.18
955.50
Debt/Equity Ratio
2.67
3.29
3.94
5.36
9.17
3.23
3.06
4.32
7.10
7.66
10.82
16.60
56.35
20.10
680.99
Dividend Payout Ratio %
-30.22%
-57.24%
-42.00%
98.73%
77.50%
100.85%
67.79%
89.16%
90.17%
76.63%
84.10%
69.00%
80.02%
77.50%
80.62%
Total Payout
$544.64
-546.01
-1457.23
683.39
503.06
-135.77
-99.93
1070.91
116.74
609.33
382.78
-144.40
74.60
32.71
-276.32
-15.27%-944.72%Payout Ratio %
95.35%
-98.02%
-295.95%
124.42%
95.91%
-27.07%
-15.39%
141.75%
14.94%
65.18%
44.81%
-13.75%
8.09%
13.59%
-112.50%