Iron Mountain (IRM) FY2024 results: revenue $6.1 billion, up 12.2% on the year
Iron Mountain Inc. (IRM) reported revenue of $6.1 billion for fiscal 2024, the year ended 31 December 2024, up 12.2% on the year before. Net income was $180 million, down 2.2%, and diluted earnings per share $0.61. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2025.
Revenue
$6.1 billion
+12.2% on the year
FY2017FY2024
Operating margin
16.4%
16.8% a year earlier
FY2017FY2024
Net income
$180 million
-2.2% on the year
FY2017FY2024
Diluted EPS
$0.61
-3.2% on the year
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ 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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
1,197
1,114
928
+7.5%
Capital expenditure
1,792
1,339
875
+33.8%
Free cash flow
-595
-226
52.3
Free cash flow margin
-9.7%
-4.1%
1.0%
Cash from investing
-2,137
-1,444
-1,660
Cash from financing
877
426
639
+106.0%
Depreciation and amortisation
901
776
728
+16.1%
Share-based compensation
118
73.8
56.9
+60.1%
Dividends paid
790
738
724
+7.0%
Dividend per share
$2.73
$2.54
$2.47
+7.5%
Diluted shares, weighted
296m
294m
292m
+0.8%
Shares outstanding at period end
294m
292m
291m
+0.5%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
-503
212
637
Non-controlling interest
198
0.1
0.1
+158,658.4%
Redeemable equity
78.2
178
95.2
-56.1%
Debt
13,719
11,933
10,569
+15.0%
Operating lease liabilities
2,335
2,562
2,429
-8.9%
Finance lease liabilities
278
311
289
-10.4%
Other liabilities
2,611
2,278
2,121
+14.6%
Total liabilities and equity
18,717
17,474
16,141
+7.1%
Goodwill
5,084
5,018
4,883
+1.3%
Intangible assets
1,275
1,280
1,423
-0.4%
Cash and equivalents
156
223
142
-30.1%
Receivables
1,291
1,260
1,175
+2.5%
Inventory
n/a
n/a
11.7
Other assets
10,911
9,693
8,506
+12.6%
Total assets
18,717
17,474
16,141
+7.1%
10-K for the year ended 31 December 2024, filed 14 February 2025: the filing.