How does Iron Mountain (IRM) make money?

Iron Mountain (IRM) generates revenue primarily from Global Records and Information Management Business, which accounted for 86% of total revenue in TTM through Q1 2026. The company reported $7.25B in revenue and converted 3.8% of it into net profit, equivalent to roughly $272M in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Iron Mountain (IRM)?

Iron Mountain (IRM) reported a gross profit margin of 55% in TTM through Q1 2026, equivalent to $3.99B in gross profit on $7.25B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Iron Mountain (IRM)?

Iron Mountain (IRM) reported an operating profit margin of 18% in TTM through Q1 2026, equivalent to $1.3B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Iron Mountain (IRM)?

Iron Mountain (IRM) reported a net profit margin of 3.8% in TTM through Q1 2026, equivalent to $272M in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Iron Mountain (IRM) profitable?

Yes. Iron Mountain (IRM) reported $272M in net income for TTM through Q1 2026, with a net profit margin of 3.8%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Iron Mountain (IRM) spend on capital expenditures?

Iron Mountain (IRM) spent $2.11B on capital expenditures (CapEx) during TTM through Q1 2026, roughly 29.1% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Iron Mountain (IRM) generate?

Iron Mountain (IRM) generated -$628M in free cash flow during TTM through Q1 2026, a free-cash-flow margin of -8.7%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Iron Mountain (IRM)?

Iron Mountain (IRM) had an effective tax rate of 20% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Iron Mountain (IRM)?

Iron Mountain (IRM) reports revenue across 2 reportable product segments, led by Global Records and Information Management Business at 86% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

How Iron Mountain Makes Money: 2026 Visual Revenue Map

Iron Mountain (IRM) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported April 30, 2026).

Iron Mountain discloses geographic revenue only in annual filings. to view the full breakdown.

Iron Mountain (IRM) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Iron Mountain (IRM), TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Global Records and Information Management Business	$6.23B	86%
Global Data Center Business	$1.01B	14%
Total	$7.25B	100%

Global Records and Information Management Business$6.23B
Global Data Center Business$1.01B
Total$7.25B

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Iron Mountain (IRM) reports revenue across 2 reportable product segments; the largest segment was Global Records and Information Management Business at 86%, followed by Global Data Center Business (14%).

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Operating Margin18.0%

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Employees11.7K

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