Capital Expenditures for Iron Mountain (IRM)
According to Iron Mountain's latest reported financial statements, the company's current capital expenditures (TTM) is $2.27B USD. Capital expenditures (CapEx) are cash outlays for property, plant, and equipment and other long-lived productive assets — reported on the cash flow statement under investing activities. CapEx funds future capacity (factories, data centers, software, machinery), so rising spend can signal investment in growth, while heavy CapEx reduces free cash flow available to shareholders. We display CapEx as a positive amount (the absolute cash outflow); compare with revenue to gauge capital intensity and with total assets for the asset-base context.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
Currently viewingCapital ExpendituresSwitch metric
Latest period
$2.27B
YoY change
+22.5%
5Y CAGR
+38.0%
Peak year (2025)
$2.27B
Cumulative capital expenditures
$14.95B
CapEx history chart for Iron Mountain (IRM) from 1996 to 2025
CapEx history table for Iron Mountain (IRM) from 1996 to 2025
| Fiscal year | Period ended | Reported | Capital Expenditures | YoY |
|---|---|---|---|---|
| 2025 | $2.27B | +22.5% | ||
| 2024 | $1.85B | +37.8% | ||
| 2023 | $1.35B | +52.2% | ||
| 2022 | $883.58M | +41.5% | ||
| 2021 | $624.38M | +37.8% | ||
| 2020 | $453.25M | -39.4% | ||
| 2019 | $748.46M | +40.5% | ||
| 2018 | $532.54M | +27.3% | ||
| 2017 | $418.32M | +10.3% | ||
| 2016 | $379.37M | +9.8% | ||
| 2015 | $345.36M | -12.9% | ||
| 2014 | $396.37M | +24.8% | ||
| 2013 | $317.49M | +17.8% | ||
| 2012 | $269.56M | +16.8% | ||
| 2011 | $230.86M | -15.1% | ||
| 2010 | $272.05M | -15.9% | ||
| 2009 | $323.52M | -19.4% | ||
| 2008 | $401.25M | +3.8% | ||
| 2007 | $386.44M | -2.5% | ||
| 2006 | $396.22M | +38.8% | ||
| 2005 | $285.56M | +23.1% | ||
| 2004 | $231.97M | +13.4% | ||
| 2003 | $204.48M | +3.8% | ||
| 2002 | $197.00M | -0.0% | ||
| 2001 | $197.04M | +16.8% | ||
| 2000 | $168.71M | -45.7% | ||
| 1999 | $310.90M | +26.6% | ||
| 1998 | $245.60M | +6.6% | ||
| 1997 | $230.50M | +691.8% | ||
| 1996 | $29.11M | — |
CapEx values are taken from Iron Mountain's reported cash flow statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
The 2025 reading of Iron Mountain (IRM) capital expenditures is $2.27B – grew 22.5% year-over-year.
Iron Mountain capital expenditures compound annual growth for the 2020–2025 (5 years) window is +38.0%, sustaining 5 straight years of year-over-year growth.
Across the available history, capital expenditures reached its high of $2.27B in 2025 and its low of $29.11M in 1996.
Among 8 Real Estate peers, Iron Mountain (IRM) ranks 2nd; the peer median for capital expenditures is $210.59M.
Iron Mountain Capital Expenditures by Year
Iron Mountain Capital Expenditures 2025: $2.27B
Iron Mountain capital expenditures in 2025 was $2.27B, grew 22.5% from 2024. This figure represents the highest annual value in the available history.
Iron Mountain Capital Expenditures 2024: $1.85B
Iron Mountain capital expenditures in 2024 was $1.85B, surged 37.8% from 2023.
Iron Mountain Capital Expenditures 2023: $1.35B
Iron Mountain capital expenditures in 2023 was $1.35B, surged 52.2% from 2022.
Iron Mountain Capital Expenditures 2022: $883.58M
Iron Mountain capital expenditures in 2022 was $883.58M, surged 41.5% from 2021.
Iron Mountain Capital Expenditures 2021: $624.38M
Iron Mountain capital expenditures in 2021 was $624.38M.
See more financial history for Iron Mountain (IRM).
Sector peers — CapEx
Companies in the same sector as Iron Mountain, ranked by their latest capital expenditures.
| Company | Capital Expenditures | Sector |
|---|---|---|
| Equinix, Inc. (EQIX) | $4.31B | Real Estate |
| American Tower Corporation (AMT) | $1.68B | Real Estate |
| Simon Property Group, Inc. (SPG) | $912.35M | Real Estate |
| Public Storage (PSA) | $289.38M | Real Estate |
| Realty Income Corporation (O) | $131.80M | Real Estate |
| Welltower Inc. (WELL) | $33.80M | Real Estate |
| Prologis, Inc. (PLD) | $0 | Real Estate |
| Digital Realty Trust, Inc. (DLR) | $0 | Real Estate |
Frequently asked questions
What is Iron Mountain's capital expenditures?
- Latest reported capital expenditures for Iron Mountain (IRM) is $2.27B (period ending December 31, 2025).
How has Iron Mountain capital expenditures changed year-over-year?
- Iron Mountain (IRM) capital expenditures changed +22.5% year-over-year on the latest annual filing.
What is the long-term growth rate of Iron Mountain capital expenditures?
- Iron Mountain (IRM) capital expenditures compound annual growth rate is +38.0% over the most recent 5 years available.
When did Iron Mountain capital expenditures hit its highest annual value?
- Iron Mountain capital expenditures reached its highest annual value of $2.27B in 2025.
What was Iron Mountain capital expenditures in 2024?
- Iron Mountain (IRM) capital expenditures in 2024 was $1.85B.
What was Iron Mountain capital expenditures in 2025?
- Iron Mountain (IRM) capital expenditures in 2025 was $2.27B.
Metrics overview
Pick a metric for charts, filings, and peers — each row shows the latest TTM or annual value with year-over-year change.
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