Iron Mountain (IRM) FY2025 10-K Annual Report

Filed: Feb 12, 2026
Financials
Real Estate Investment TrustsSEC EDGAR

Iron Mountain (IRM) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 12, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

Iron Mountain FY2025 10-K Analysis

Business Overview

  • Core business: global information management services spanning physical records, digital transformation, data centers, and asset lifecycle management
  • New product emphasis: October 2025 launch of Insight Digital Experience Platform (DXP) 2.0 with AI agents and smart document processing
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Management Discussion & Analysis

  • Revenue $6.90B, up 12.2% YoY (+$751.8M); storage rental $4.05B (+10.1%), service $2.85B (+15.5%)
  • Operating income $1.16B, up 15.3%; adjusted EBITDA $2.57B (+15.1%) with margin 37.3% vs 36.4%
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Risk Factors

  • Legal risk from compliance with ASC Topic 606 for revenue recognition, requiring significant judgment on performance obligations and variable consideration timing
  • Macroeconomic risk from foreign currency fluctuations impacting 33.7% of revenues, e.g., Euro revenue 6.8% weakened 4.4% against USD in 2025
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Iron Mountain FY2025 Key Financial Metrics
XBRL

Revenue

$6.9B

+12.2% YoY

Net Income

$145M

-19.7% YoY

Operating Margin

16.9%

+45bp YoY

Net Margin

2.1%

-83bp YoY

ROE

-14.7%

+2107bp YoY

Total Assets

$21.1B

+12.9% YoY

EPS (Diluted)

$0.49

-19.7% YoY

Operating Cash Flow

$1.3B

+12.0% YoY

Source: XBRL data from Iron Mountain FY2025 10-K filing on SEC EDGAR. All figures in USD.

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