
Hyperscalers are signing multi-year leases at a pace that is rewriting the income playbook, and three REITs are quietly collecting the rent on every server warehouse in the deal.
Iron Mountain Inc. (NYSE: IRM) is an American enterprise information management services company founded in 1951 and headquartered in Boston, Massachusetts.
| Revenue (TTM) | $7.56B |
| Gross Profit (TTM) | $4.10B |
| EBITDA | $2.55B |
| Operating Margin | 19.10% |
| Return on Equity | 225.10% |
| Return on Assets | 4.63% |
| Revenue/Share (TTM) | $25.50 |
| Book Value | $-4.30 |
| Price-to-Book | 1732.39 |
| Price-to-Sales (TTM) | 4.60 |
| EV/Revenue | 7.09 |
| EV/EBITDA | 21.33 |
| Quarterly Earnings Growth (YoY) | 860.00% |
| Quarterly Revenue Growth (YoY) | 18.50% |
| Shares Outstanding | $297.70M |
| Float | $294.91M |
| % Insiders | 0.88% |
| % Institutions | 88.48% |
Volatility is currently contracting

Hyperscalers are signing multi-year leases at a pace that is rewriting the income playbook, and three REITs are quietly collecting the rent on every server warehouse in the deal.

Iron Mountain (IRM) reported earnings 30 days ago. What's next for the stock?

IRM expands in Saudi Arabia through an AI-powered partnership that could accelerate and broaden its digital services footprint.

RIYADH, Saudi Arabia--(BUSINESS WIRE)--LEAP 2026 – Iron Mountain (NYSE: IRM), a global leader in information management services, today announced an agreement with the Social Development Bank in Saudi Arabia to support the bank's ongoing digital transformation by modernizing document-intensive financing processes through AI-powered intelligent document processing. The bank will leverage Iron Mountain InSight® DXP's intelligent document processing capabilities across its small and medium enterpr.

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.

The AI chip depreciation schedule lengthens as the Q2'26 earnings season reiterates the durability of AI compute demand, with it buoying IRM's AI-driven monetization cadence. The ALM segment drives outsized growth, with FY2026 ALM revenue guided to approach $1B (+58.9% YoY), benefiting from expanded data center footprint and chip renewal trends. Despite the robust top/bottom-line growth, IRM's forward dividend yield remains underwhelming at 2.67%, thanks to the overly done rally, and pending future payout hikes.

McIntosh realized ~$1.5 million through the disposal of shares on August 6, 2026. The transaction represented 13% of the insider's total direct equity holdings in the company.

Iron Mountain Incorporated (IRM) Q2 2026 Earnings Call Transcript

Iron Mountain tops Q2 estimates as data centers, ALM and digital growth fuel stronger results, prompting a higher 2026 AFFO outlook.

The headline numbers for Iron Mountain (IRM) give insight into how the company performed in the quarter ended June 2026, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
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