Edwyn
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Revenue | $4,147 | $4,492 | $5,104 | $5,480 | $6,150 |
| Gross Profit | $935 | $854 | $1,050 | $922 | $1,010 |
| Operating Income | $935 | $854 | $1,050 | $922 | $1,010 |
| Net Income | $343 | $453 | $562 | $187 | $184 |
Over the past five years, Iron Mountain Inc. has demonstrated a steady upward trend in revenue, growing from approximately USD 4.15 billion in 2020 to USD 6.15 billion in 2024. This consistent increase suggests a robust demand for its services in information management and storage—a sector that has benefited from increasing regulatory requirements and digital transformation. Alongside revenue, gross profit and operating income also trended upward overall, albeit with noticeable fluctuations. Gross profit peaked at around USD 1.05 billion in 2022, but declined to about USD 921 million in 2023 before a modest rebound in 2024. The close alignment of operating income figures with gross profit indicates that operating efficiencies or cost structures likely remained stable, with little impact from non-operating lines during this period. A significant divergence is observed in the net income figures. After a gradual improvement from USD 343 million in 2020 to USD 562 million in 2022, net income experienced a sharp decline of over 66% in 2023, settling near USD 187 million and remaining low in 2024. This pronounced drop—despite rising revenues—suggests either increased expenses, non-operating losses, or other factors eroding profitability. While the sustained revenue growth and stable operating margins reflect overall solid operational health, the marked reduction in net income raises concerns regarding profitability sustainability. Given Iron Mountain’s established market position in a niche industry largely reliant on secure records storage and data management, addressing these margin pressures will be essential for long-term financial health.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.