Iron Mountain Incorporated reported record Q4 and full year 2025 results, with total revenues of $1.84 billion for Q4 (+16.6% Y/Y) and $6.90 billion for the full year (+12.2% Y/Y). The company issued 2026 guidance projecting revenue of $7.63-$7.78 billion and declared a quarterly dividend of $0.864 per share.
Key takeaways
Q4 2025 Total Revenue was $1.84 billion, an increase of 16.6% year-over-year, with organic revenue growth of 14%.
Full Year 2025 Net Income was $152 million, a decrease of 17.1% compared to $184 million in 2024.
Full Year 2025 Adjusted EBITDA was $2.57 billion, an increase of 15.1% year-over-year.
Full Year 2025 AFFO per share was $5.17, an increase of 13.9% compared to $4.54 in 2024.
The Board declared a quarterly cash dividend of $0.864 per share, payable on April 3, 2026.
The company issued 2026 guidance for Total Revenue of $7,625 - $7,775 million and Adjusted EBITDA of $2,875 - $2,925 million.