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How Iron Mountain (IRM) makes money
Iron Mountain (IRM) made $2.0B of revenue in the third quarter 2026 (Q3 2026), +13% from a year earlier. Records Management brought in $1.2B (60%); Information Destruction brought in $395M (20%); Data Center brought in $274M (14%). Of every dollar of revenue, 21¢ was left as operating profit, 6¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Records Management | $1.2B | 60.3% | +0.2% | +9% |
| Information Destruction | $395M | 19.8% | -11% | +26% |
| Data Center | $274M | 13.7% | +4% | +34% |
| Data Management | $122M | 6.1% | -0.9% | -9% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $2.0B | 100.0% |
| Operating profit | $411M | 20.6% |
| Income tax | $56.7M | 2.9% |
| Net earnings | $124M | 6.2% |
| Operating cash flow | $316M | 15.9% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $2.0B | +14% |
| Q2 2026 | $2.0B | +18% |
| Q1 2026 | $1.9B | +22% |
| Q4 2025 | $1.8B | +17% |
| Q3 2025 | $1.8B | +13% |
| Q2 2025 | $1.7B | +12% |
| Q1 2025 | $1.6B | +8% |
From Iron Mountain's 10-Q filed Nov 5, 2026 (on EDGAR).
Questions
How does Iron Mountain make money?
Iron Mountain (IRM) made $2.0B of revenue in the third quarter 2026 (Q3 2026), +13% from a year earlier. Records Management brought in $1.2B (60%); Information Destruction brought in $395M (20%); Data Center brought in $274M (14%). Of every dollar of revenue, 21¢ was left as operating profit, 6¢ was left as net earnings.
What is Iron Mountain's biggest business?
Records Management: $1.2B in the third quarter 2026, 60% of revenue, +9% from a year earlier.
What is Iron Mountain's profit margin?
Net earnings were $124M, 6.2% of revenue, in the third quarter 2026; the operating margin was 20.6%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.