IRM Iron Mountain margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 57

Gross margin

54.2%

Operating margin

18.8%

EBITDA margin

32.7%

Net margin

5.5%

The Iron Mountain shows a gross margin of 54.2%, an operating margin of 18.8%, an EBITDA margin of 32.7%, and a net margin of 5.5%. Across the available margins, net margin advanced the most and gross margin weakened the most, by 4.9 and 1.8 percentage points respectively.

IRM margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Iron Mountain's margins averaged 55.94% gross, 16.8% operating, 30.21% EBITDA, and 2.87% net. For Iron Mountain, operating, EBITDA, and net margins are above their three-year averages, while gross margin is below its three-year average.

IRM margin expansion

Year-over-year margin changes in percentage points

The largest positive change was in net margin, up 4.9 percentage points. Operating margin also expanded by 2.6 percentage points and Ebitda margin also expanded by 4 percentage points, while gross margin contracted by 1.8 percentage points.

Gross margin expansion

-1.8pp

Operating margin expansion

2.6pp

EBITDA margin expansion

4pp

Net margin expansion

4.9pp

IRM Gross margin

The average gross margin for Iron Mountain was 55.94% over the last 3 years. At present, Iron Mountain's current gross margin is 54.2%, which is 1.7 percentage points below its three-year average. The gross margin for Iron Mountain moved between 54.2% in Jun 2026 and 57% in Dec 2023.

IRM Operating margin

Iron Mountain's operating margin averaged 16.8% in the last 3 years. Compared with its three-year average, Iron Mountain's current operating margin is 18.8% and is 2 percentage points above its three-year average. Over the last 3 years, Iron Mountain's operating margin peaked at 18.8% in Jun 2026 and reached a low of 16% in Sep 2024.

IRM EBITDA margin

Over the last 3 years, the average EBITDA margin for Iron Mountain was 30.21%. The latest EBITDA margin for Iron Mountain is 32.7%, 2.5 percentage points above its three-year average. Iron Mountain's EBITDA margin ranged from a low of 28.5% in Sep 2024 to a high of 32.7% in Jun 2026.

IRM Net margin

Over the last 3 years, Iron Mountain's net margin averaged 2.87%. At present, Iron Mountain's current net margin is 5.5%, which is 2.6 percentage points above its three-year average. During this period, net margin reached a high of 5.5% in Jun 2026 and a low of 0.6% in Jun 2025.

IRM margin group comparison

Margins compared with peer-group, industry and sector averages

Iron Mountain's gross margin of 54.2% is below the Real Estate sector, the industry and its peers average. Compared to its Real Estate sector average of 63%, Iron Mountain's gross margin is 14% lower.

IRM margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Iron Mountain's gross margin?

The current gross margin for IRM is 54.2% as of Jun 30, 2026.

What is Iron Mountain's operating margin?

For the period ending Jun 30, 2026, IRM recorded an operating margin of 18.8%.

What is Iron Mountain's EBITDA margin?

The current EBITDA margin for IRM is 32.7% as of Jun 30, 2026.

What is Iron Mountain's net margin?

As of Jun 30, 2026, IRM has a net margin of 5.5%.

What are the average margins of IRM?

Iron Mountain's gross, operating, EBITDA, and net margins averaged 55.9% gross, 16.8% operating, 30.2% EBITDA, and 2.9% net over the last 3 years.

What are the highest historical margins of IRM?

Iron Mountain's highest recorded margins during the past 5 years were 58% gross in Dec 2021, 20.7% operating in Mar 2023, 38.8% EBITDA in Dec 2021, and 11.2% net in Mar 2023.

What are the lowest historical margins of IRM?

Within the 5-year period, IRM recorded its lowest margins at 54.2% gross in Jun 2026, 16% operating in Sep 2024, 28.5% EBITDA in Sep 2024, and 0.6% net in Jun 2025.