Iron Mountain Inc. (IRM)
Summary
Iron Mountain: Data Center Leasing Is The Main Growth Driver
Iron Mountain is rated a buy, leveraging a durable legacy records business to fund high-growth data center expansion. IRM's legacy RIM segment boasts 93.4% retention and 43.3% EBITDA margin, providing stable cash flow for data center investments. Data center revenue grew 39% y/y in Q2 2026, with robust leasing momentum and 71.2% of its development pipeline pre-leased.
Iron Mountain Is Running Hot
Iron Mountain Incorporated has surged 42.8% YTD, far outpacing the S&P 500, driven by robust revenue and cash flow growth. IRM's rapid expansion in data centers and asset lifecycle management, alongside 37 consecutive years of organic revenue growth, underpins its operational strength. Management guides for 2026 revenue of $7.94–$8.01B, EBITDA of $2.945–$2.975B, and adjusted FFO of $1.76–$1.78B.
Iron Mountain Q2 Earnings Call Highlights
Iron Mountain NYSE: IRM reported record second-quarter results for 2026, with revenue rising 19% year over year to $2.03 billion and adjusted EBITDA increasing 16% to $727 million, as growth in data centers, asset lifecycle management and digital solutions outpaced the company's expectations.
Iron Mountain Inc. Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| TJD Thomas John Drogan PR Inc.IPAL SECURITIES Inc. | 12,392 | $1.14M | $1.56M | $412,728.72 | 36.12% |
 Timothy M. Bidwell Hazlett, BURT & WATSON Inc. | 500 | $27,705 | $61,160 | $33,455 | 120.75% |
| LC Lisa Candera CIGNA INVESTMENTS Inc. /NEW | 2,808 | $196,877.54 | $343,474.56 | $146,597.02 | 74.46% |
 Curtis Ellergodt Rothschild Investment LLC | 2,877 | $273,625.1 | $361,092.27 | $87,467.17 | 31.97% |
| BZ Brandon Zatopek Commonwealth Equity Services LLC | 157,856 | $19.94M | $19.12M | -$814,546.61 | -4.09% |
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Iron Mountain Inc. Profile
| Specialty Retail Industry | Consumer Discretionary Sector | William L. Meaney CEO | NYSE Exchange | 46284V101 CUSIP |
| US Country | 29,400 Employees | 3 Jul 2026 Last Dividend | 26 Sep 2014 Last Split | 31 Jan 1996 IPO Date |
Overview
Iron Mountain Incorporated, symbolized on the New York Stock Exchange as IRM, stands as a pinnacle of expertise in the realm of information management services. Since its inception in 1951, it has garnered the trust of over 240,000 customers globally. The company's mission is to protect and enhance the significance of the work of its clients. By doing so, Iron Mountain plays a critical role in allowing businesses to illuminate and utilize their dormant data, facilitating the rapid and secure unlocking of valuable insights and intelligence from both digital and physical assets. Furthermore, it supports its clients in achieving their environmental objectives, underlining the company's commitment to sustainability alongside data security and management.
Products and Services
- Digital Transformation
Iron Mountain's digital transformation services are designed to accelerate the transition from analog to digital, enabling businesses to better manage, access, and protect their critical information. This transformation encompasses a variety of solutions that streamline operations and foster innovation.
- Data Centers
Providing secure and compliant data center solutions, Iron Mountain ensures that its customers' IT infrastructure is hosted in facilities that prioritize security, resilience, and sustainability. These data centers cater to the needs of organizations, keeping their digital assets safe and accessible.
- Secure Records Storage
This service offers a secure and systematic approach to storing physical records. By safeguarding sensitive and critical information, Iron Mountain helps organizations mitigate risks, comply with regulations, and manage the lifecycle of their documents efficiently.
- Information Management
Iron Mountain's information management services focus on the end-to-end handling of documents and data. From secure document storage to digital scanning and cloud storage solutions, these services enable businesses to optimize their information workflow and decision-making processes.
- Asset Lifecycle Management
This suite of services addresses the entire lifecycle of IT assets, from acquisition to disposition. Iron Mountain’s asset lifecycle management ensures that clients' IT assets are managed responsibly, securely, and in an environmentally-friendly manner.
- Secure Destruction
With an emphasis on confidentiality and compliance, Iron Mountain offers secure destruction services for both paper records and electronic media. This service is essential for businesses looking to prevent data breaches and protect their intellectual property.
- Art Storage and Logistics
Recognizing the unique needs of the art world, Iron Mountain provides specialized storage and logistics services for art and cultural artifacts. This offering includes climate-controlled storage, secure transportation, and expert handling to preserve the integrity and value of each piece.
