IRM · Iron Mountain Inc
Price & Indicators
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AI Brief
TL;DR.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Ask ALVIS about this →Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
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| Adjusted EBITDA non-GAAP | $727M | Q2 2026 | — |
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GAAP → non-GAAP reconciliationGAAP Net Income (Loss) $106.1M
+$223.45M Interest Expense, Net
+$14.8M Provision (Benefit) for Income Taxes
+$281.4M Depreciation and Amortization
+$1.68M Acquisition and Integration Costs
+$0K Restructuring and Other Transformation
+$11.51M Loss (Gain) on Disposal/Write-Down of PP&E, Net (Including Real Estate)
+$28.86M Other Expense (Income), Net, Excluding our Share of Losses (Gains) from our Unconsolidated Joint Ventures
+$56.79M Stock-Based Compensation Expense
+$2.44M Our Share of Adjusted EBITDA Reconciling Items from our Unconsolidated Joint Ventures
= Adjusted EBITDA $727.02M
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| Adjusted EBITDA Margin non-GAAP | 35.8% | Q2 2026 | — |
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| Adjusted EPS non-GAAP | $0.6 | Q2 2026 | — |
| Adjusted EPS - Fully Diluted from Net Income (Loss) Attributable to Iron Mountain Incorporated non-GAAP | $0.6 | Q2 2026 | — |
| AFFO non-GAAP | 432.74M | Q2 2026 | — |
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GAAP → non-GAAP reconciliationGAAP FFO (Normalized) 303.73M
+82.12M Non-Real Estate Depreciation
+76.72M Amortization Expense
+8.06M Amortization of Deferred Financing Costs
+1.47M Revenue Reduction Associated with Amortization of Customer Inducements and Above- and Below-Market Leases
-685K Non-Cash Rent (Income) Expense
-878K Reconciliation to Normalized Cash Taxes
+194K Our Share of AFFO Reconciling Items from our Unconsolidated Joint Ventures
-37.99M Less: Recurring Capital Expenditures
= AFFO 432.74M
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| AFFO per share non-GAAP | $1.44 | Q2 2026 | — |
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| Average storage duration per box | 14.5 | Q2 2026 | — |
| Backlog (Data Center) supports growth beyond 2026 | $370M | As of June 30, 2026 | — |
| Cash Mark to Market | 11.8% | Q2 2026 | — |
| Churn | 2% | Q2 2026 | — |
| Data Center Cash Mark to Market | 11.8% | Q2 2026 | — |
| Data Center Churn | 2% | Q2 2026 | — |
| Data Center GAAP Mark to Market | 13.8% | Q2 2026 | — |
| Data Center Leaseable MW | 615.7 | as of 06/30/2026 | — |
| Data Center Number of Facilities | 31 | Q2 2026 | — |
| Data Center Number of Markets | 21 | Q2 2026 | — |
| Data Center WALE | 10.2 | as of 06/30/2026 | — |
| Data Center: Leasable Megawatts | 528.5 | Q2 2026 | — |
| FFO (Nareit) non-GAAP | 226.68M | Q2 2026 | — |
GAAP → non-GAAP reconciliationGAAP Net Income (Loss) $106.1M
+$116.73M Real Estate Depreciation (1)
+$531K Loss (Gain) on Sale of Real Estate, Net of Tax
+$1.83M Data Center Lease-Based Intangible Assets Amortization (2)
+$1.48M Our Share of FFO (Nareit) Reconciling Items from our Unconsolidated Joint Ventures
= FFO (Nareit) $226.68M
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| FFO (Nareit) Per Share non-GAAP | $0.76 | Q2 2026 | — |
| FFO (Normalized) non-GAAP | 303.73M | Q2 2026 | — |
GAAP → non-GAAP reconciliationGAAP FFO (Nareit) 226.68M
+1.68M Acquisition and Integration Costs
+0K Restructuring and Other Transformation
+10.98M Loss (Gain) on Disposal/Write-Down of PP&E, Net (Excluding Real Estate)
+28.86M Other Expense (Income), Net, Excluding our Share of Losses (Gains) from our Unconsolidated Joint Ventures
+56.79M Stock-Based Compensation Expense
-5.91M Non-Cash Amortization Related to Derivative Instruments
+4M Real Estate Financing Lease Depreciation
-19.28M Tax Impact of Reconciling Items and Discrete Tax Items
-54K Our Share of FFO (Normalized) Reconciling Items from our Unconsolidated Joint Ventures
= FFO (Normalized) 303.73M
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| FFO (Normalized) per share non-GAAP | $1.01 | Q2 2026 | — |
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| GAAP Mark to Market | 13.8% | Q2 2026 | — |
| Kilowatts Leased - New/Expansion | 13,127 | Q2 2026 | — |
| Leased % - Stabilized | 97.4% | Q2 2026 | — |
| Leased % - Total | 97.1% | Q2 2026 | — |
| New Leasing (Data Center) | 13 | Q2 2026 | — |
| Number of countries | 61 | Q2 2026 | — |
| Number of customers | 240,000 | Q2 2026 | — |
| Number of data centers | 31 | Q2 2026 | — |
| Number of facilities | 1,300 | Q2 2026 | — |
| Operating capacity (Data Center) | 529 | Q2 2026 | — |
| Organic Service Revenue Growth non-GAAP | 24.8% | Q2 2026 | — |
| Organic Storage Rental Revenue Growth non-GAAP | 11.3% | Q2 2026 | — |
| Recurring Capital Expenditures non-GAAP | 37.99M | Q2 2026 | — |
| Service Gross Margin | 30.7% | Q2 2026 | — |
| Storage Facility Capacity Utilization | 81.6% | Q2 2026 | — |
| Storage NOI / Sq. Ft. non-GAAP | $9.57 | Q2 2026 | — |
| Storage Rental Gross Margin | 69.8% | Q2 2026 | — |
| Storage Revenue / Sq. Ft. | $12.19 | Q2 2026 | — |
| Total Buildings | 1,306 | as of 06/30/2026 | — |
| Total Leaseable MW | 528.5 | Q2 2026 | — |
| Total Organic Revenue Growth non-GAAP | 16.8% | Q2 2026 | — |
| Total Potential Capacity - Megawatts | 1,372.9 | Q2 2026 | — |
| Total Sq. Ft. | 98.11M | as of 06/30/2026 | — |
| Total Volume - Storage | 747,880 | Q2 2026 | — |
| WALE | 10.2 | Q2 2026 | — |
| Weighted-Average Remaining Operating Lease Obligation | 10.2 | as of 06/30/2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
REIT - Specialty — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
IRM
this stock
Iron Mountain Inc
|
$38.67B | +47.2% | +8.3% | 92.1 | 2.8% |
|
EQIX
Equinix Inc
|
$105.06B | +40.6% | +7.8% | 68.5 | 1.9% |
|
AMT
American Tower Corp /Ma/
|
$80.29B | -0.6% | +5.1% | 27.8 | 1.6% |
|
DLR
Digital Realty Trust, Inc.
|
$66.76B | +24.3% | +10.0% | — | 2.4% |
|
CCI
Crown Castle Inc.
|
$31.50B | -16.0% | -4.4% | 37.6 | 2.9% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| IRM | -1.8% | -2.0% | +11.6% | -0.2% | +47.2% |
| SPY | -0.4% | +2.9% | +11.6% | +3.0% | +12.8% |
| vs SPY | -1.4% | -4.9% | +0.1% | -3.2% | +34.4% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.