--- title: "Iron Mountain: Metrics Guide" description: "Iron Mountain revenue, margins, cash flow and balance sheet figures by fiscal year, taken from its SEC filings, with the ratios computed and explained." canonical: https://www.getswoopr.com/stocks/companies/iron-mountain/metrics/ source: "Swoopr Investment: https://www.getswoopr.com" --- # Iron Mountain: Financial & Operating Metrics Guide ## Direct Answer Iron Mountain reported revenue of $6.9 billion for the fiscal year ended December 31, 2025, with an operating margin of 16.9% and net income of $152 million, according to its SEC filings. Revenue grew 12.2% from the prior year. ## What Are Iron Mountain's Key Financial Figures? | Fiscal year | FY2025ended December 31, 2025 | FY2024ended December 31, 2024 | FY2023ended December 31, 2023 | FY2022ended December 31, 2022 | | --- | --- | --- | --- | --- | | Revenue | $6.9 billion | $6.1 billion | $5.5 billion | $5.1 billion | | Operating income | $1.2 billion | $1.0 billion | $922 million | $1.0 billion | | Operating margin | 16.9% | 16.4% | 16.8% | 20.6% | | Net income | $152 million | $184 million | $187 million | $562 million | | Net margin | 2.2% | 3.0% | 3.4% | 11.0% | | Operating cash flow | $1.3 billion | $1.2 billion | $1.1 billion | $928 million | | Capital expenditures | $2.3 billion | $1.8 billion | $1.3 billion | $875 million | | Free cash flow | -$932 million | -$595 million | -$226 million | $52 million | Operating margin held roughly steady between fiscal 2024 and 2025, which separates pricing and cost discipline from revenue growth alone. Free cash flow (operating cash flow minus capital expenditures) was -$932 million against net income of $152 million; cash generation fell short of reported earnings, which is worth reconciling in the cash flow statement. ![Bar chart of Iron Mountain revenue, operating income, net income for fiscal 2022 to 2025. In fiscal 2025, revenue was $6.9 billion, operating income $1.2 billion and net income $152 million.](https://www.getswoopr.com/images/charts/iron-mountain-metrics-revenue-profit.webp) *Iron Mountain revenue, operating income and net income by fiscal year, from the figures in the table above. Select the chart to open it full size.* ![Line chart of Iron Mountain operating margin and net margin for fiscal 2022 to 2025. In fiscal 2025, operating margin was 16.9% and net margin was 2.2%.](https://www.getswoopr.com/images/charts/iron-mountain-metrics-margins.webp) *Iron Mountain operating margin and net margin by fiscal year: operating income and net income as a share of revenue. Select the chart to open it full size.* ![Bar chart of Iron Mountain operating cash flow, capital expenditures, free cash flow for fiscal 2022 to 2025. In fiscal 2025, operating cash flow was $1.3 billion, capital expenditures was $2.3 billion, free cash flow was negative $932 million.](https://www.getswoopr.com/images/charts/iron-mountain-metrics-cash-flow.webp) *Iron Mountain operating cash flow, capital expenditures and free cash flow by fiscal year. Select the chart to open it full size.* ## What Does Iron Mountain's Balance Sheet Show? | Cash and cash equivalents | $159 million | | --- | --- | | Long-term debt | $16.2 billion | | Total assets | $21.1 billion | | Total liabilities | Not reported | | Shareholders' equity | -$981 million | | Current ratio | 0.7x | Balance sheet values are as of the end of fiscal 2025. Income statement figures describe a whole year; balance sheet figures describe a single day, so the two answer different questions. ## Where These Numbers Come From Every figure on this page is a value Iron Mountain reported in its own SEC filings, read from the SEC's XBRL data (accession 0001020569-26-000013 for fiscal year 2025). Ratios are computed from those reported values. Figures were retrieved on October 7, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary. Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation. ## Frequently Asked Questions ### What was Iron Mountain's revenue in fiscal 2025? Iron Mountain reported revenue of $6.9 billion for the fiscal year ended December 31, 2025, according to its SEC filings. ### What is Iron Mountain's operating margin? Iron Mountain's operating margin was 16.9% in fiscal 2025: operating income of $1.2 billion on revenue of $6.9 billion. ### How much free cash flow did Iron Mountain generate? Operating cash flow of $1.3 billion less capital expenditures of $2.3 billion gives free cash flow of -$932 million for fiscal 2025. ## References - [SEC EDGAR: IRON MOUNTAIN INC Form 10-K filed February 12, 2026](https://www.sec.gov/Archives/edgar/data/1020569/000102056926000013/irm-20251231.htm) - [SEC EDGAR: IRON MOUNTAIN INC annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1020569&type=10-K) - [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces) ## Related Pages - [Iron Mountain company dossier](https://www.getswoopr.com/stocks/companies/iron-mountain/) - [Iron Mountain financial metrics](https://www.getswoopr.com/stocks/companies/iron-mountain/metrics/) - [Iron Mountain financial risk indicators](https://www.getswoopr.com/stocks/companies/iron-mountain/risks/) - [Iron Mountain peer comparison](https://www.getswoopr.com/stocks/companies/iron-mountain/competitors/) - [Iron Mountain business model and revenue mix](https://www.getswoopr.com/stocks/companies/iron-mountain/business-model/) - [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/) **[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)** Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. 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