Company Reports Q4 Revenue of $1.8B, a Record High
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 12 2026
0mins
Should l Buy IRM?
Reports Q4 revenue $1.8B, consensus $1.8B. "We are pleased to report another record performance in the fourth quarter above our expectations, concluding our fifth consecutive year of all-time highs for Revenue, Adjusted EBITDA, and AFFO. Our team's steadfast commitment to delivering innovative solutions for our customers as part of our growth strategy continues to drive exceptional performance across each of our business segments," said William Meaney, CEO. "Our outlook for continued double digit revenue and profit growth in 2026 remains equally promising, as our growth businesses represent an increasingly larger portion of our revenue and our highly recurring physical records storage business sustains its solid growth trajectory. With strong data center leasing in the fourth quarter, we enter 2026 with momentum underwritten by the 400 MW of capacity being energized over the next 24 months. Across all our business areas we are off to a strong start to the year and expect to deliver another year of record performance."
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Analyst Views on IRM
Wall Street analysts forecast IRM stock price to rise
6 Analyst Rating
5 Buy
0 Hold
1 Sell
Moderate Buy
Current: 105.830
Low
111.00
Averages
124.50
High
139.00
Current: 105.830
Low
111.00
Averages
124.50
High
139.00
About IRM
Iron Mountain Incorporated is a provider of information management services. The Company offers a range of services across digital transformation, information security, data center and asset lifecycle management (ALM) needs. The Company helps businesses to unlock value and intelligence from their stored digital and physical assets. It serves to protect its customers’ work. The Company operates through two segments: Global Records and Information Management (Global RIM) Business and Global Data Center Business. The Global RIM Business segment offers various offerings, including records management, data management, global digital solutions, secure shredding, entertainment services, and consumer storage. Its Global Data Center Business segment provides data center facilities and capacity to protect mission-critical assets and ensure the continued operation of its customers’ information technology (IT) infrastructure with flexible data center options.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Revenue Continues to Climb: The company achieved total revenue of $1.843 billion, surpassing the $1.803 billion forecast, primarily driven by strong growth in storage rental and service revenues, which increased by 13% and 22%, respectively.
- Optimistic Future Outlook: Iron Mountain expects fiscal 2026 revenue to range between $7.625 billion and $7.775 billion, exceeding the analyst consensus of $7.596 billion, reflecting the company's confidence in future growth.
- Stable Dividend Payout: The board declared a quarterly cash dividend of $0.86 per share, demonstrating the company's ongoing cash flow and profitability, which enhances investor confidence.
See More
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See More
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- Dividend Yield: The forward yield of 3.45% offers a relatively attractive return in the current market environment, potentially increasing investor interest in the company's stock.
- Payment Schedule: The dividend is payable on April 3, with a record date of March 16 and an ex-dividend date also on March 16, ensuring shareholders receive timely returns and further solidifying shareholder confidence.
- Financial Performance Highlights: Iron Mountain's Q4 funds from operations (FFO) of $1.01 beat expectations by $0.03, while revenue of $1.84 billion exceeded forecasts by $40 million, showcasing the strong growth potential of the company's core operations.
See More
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- Future Outlook: With continued efforts in monetizing AI and legacy businesses, the company is poised for stronger growth by 2026, further solidifying its market position.
- Attractive Valuation: Despite current stock performance, the company remains appealing to investors due to discounted valuations and richer yields, indicating long-term investment potential.
See More
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- Improved Profitability: The adjusted FFO per share reached $1.44, surpassing the Visible Alpha estimate of $1.38, and increased from $1.32 in the previous quarter and $1.24 a year ago, indicating a sustained improvement in the company's profitability.
- Optimistic Future Outlook: The company projects adjusted FFO per share for 2026 to be between $5.69 and $5.79, with revenue expectations of $7.625 billion to $7.775 billion, both exceeding analyst consensus, reflecting strong confidence in future growth.
- Diversified Business Success: The data center, digital, and asset lifecycle management segments collectively grew over 40% year-over-year in the quarter, demonstrating the company's successful diversification strategy and enhancing its competitive position in the market.
See More
