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Equinix vs Iron Mountain: EQIX and IRM compared
Equinix is the larger company: $2.6B of revenue in its latest quarter (Q3 2026) against $2.0B for Iron Mountain (Q3 2026). Iron Mountain is growing faster (+14% against +11% a year earlier). Equinix is more profitable, with an operating margin of 23.3% against 20.6%.
Where the money goes: EQIX and IRM
Equinix (EQIX) · Q3 2026
Equinix, Q3 2026: revenue $2.6B (+11% year over year), operating margin 23.3%, net earnings $489M, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
Iron Mountain (IRM) · Q3 2026
Iron Mountain, Q3 2026: revenue $2.0B (+14% year over year), operating margin 20.6%, net earnings $124M, operating cash flow $316M. The chart follows the revenue to costs, profit and cash.
| Equinix (EQIX) | Iron Mountain (IRM) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $2.6B | $2.0B |
| Revenue growth, Y/Y | +11% | +14% |
| Operating margin | 23.3% | 20.6% |
| Net earnings | $489M | $124M |
| Net margin | 19.0% | 6.2% |
| Operating cash flow | $1.2B | $316M |
| Market value | $100.2B | $31.8B |
| P/E | 60.6× | 66.6× |
| Analysts’ mean target | $1234.88 | $141.36 |
Where the revenue comes from
Equinix
- Recurring revenues: $2.4B (95%)
- Non-recurring revenues: $129M (5%)
Iron Mountain
- Records Management: $1.2B (60%)
- Information Destruction: $395M (20%)
- Data Center: $274M (14%)
- Data Management: $122M (6%)
Questions
Which is bigger, Equinix or Iron Mountain?
Equinix is the larger company: $2.6B of revenue in its latest quarter (Q3 2026) against $2.0B for Iron Mountain (Q3 2026).
Is Equinix or Iron Mountain growing faster?
Iron Mountain is growing faster (+14% against +11% a year earlier).
Which is more profitable, Equinix or Iron Mountain?
Equinix is more profitable, with an operating margin of 23.3% against 20.6%.
More: Equinix earnings · how Equinix makes money · Iron Mountain earnings · how Iron Mountain makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 28, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.