Iron Mountain (IRM) FY2019 results: revenue $4.3 billion, up 0.9% on the year
Iron Mountain Inc. (IRM) reported revenue of $4.3 billion for fiscal 2019, the year ended 31 December 2019, up 0.9% on the year before. Net income was $267 million, down 24.5%, and diluted earnings per share $0.93. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2020.
Revenue
$4.3 billion
+0.9% on the year
FY2016FY2019
Operating margin
18.3%
19.1% a year earlier
FY2016FY2019
Net income
$267 million
-24.5% on the year
FY2016FY2019
Diluted EPS
$0.93
-24.4% on the year
FY2016FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
4,263
4,226
3,846
+0.9%
Cost of revenue
1,833
1,794
1,665
+2.2%
Gross profit
2,429
2,432
2,181
-0.1%
Gross margin
57.0%
57.5%
56.7%
Selling, general and administrative
992
1,007
937
-1.5%
Operating income
781
808
634
-3.3%
Operating margin
18.3%
19.1%
16.5%
Income tax
59.9
42.8
23.0
+40.2%
Net income
267
354
170
-24.5%
Net margin
6.3%
8.4%
4.4%
Diluted EPS
$0.93
$1.23
$0.64
-24.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
967
936
721
+3.3%
Capital expenditure
693
460
343
+50.6%
Free cash flow
274
475
378
-42.4%
Free cash flow margin
6.4%
11.3%
9.8%
Cash from investing
-731
-2,222
-599
Cash from financing
-199
551
540
Depreciation and amortisation
658
640
522
+2.9%
Share-based compensation
35.7
31.2
30.0
+14.4%
Dividends paid
705
674
440
+4.6%
Dividend per share
$2.45
$2.38
$2.27
+3.1%
Diluted shares, weighted
288m
287m
267m
+0.4%
Shares outstanding at period end
287m
286m
283m
+0.3%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,464
1,861
2,297
-21.3%
Non-controlling interest
0.3
1.4
1.4
-81.2%
Redeemable equity
67.7
70.5
91.4
-4.0%
Debt
8,665
8,143
7,043
+6.4%
Operating lease liabilities
1,729
0.0
n/a
Finance lease liabilities
321
n/a
n/a
Other liabilities
1,571
1,776
1,539
-11.6%
Total liabilities and equity
13,817
11,852
10,972
+16.6%
Fixed assets
4,623
4,490
3,418
+3.0%
Goodwill
4,485
4,441
4,070
+1.0%
Intangible assets
1,393
1,507
1,401
-7.5%
Trading assets
n/a
n/a
11.8
Cash and equivalents
194
165
926
+17.0%
Receivables
851
847
836
+0.5%
Other assets
2,271
403
311
+463.9%
Total assets
13,817
11,852
10,972
+16.6%
10-K for the year ended 31 December 2019, filed 13 February 2020: the filing.