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Digital Realty Trust vs Iron Mountain: revenue, profit, margins and growth compared

Digital Realty Trust brought in $6.1B of revenue in fiscal 2025, Iron Mountain $6.9B in fiscal 2025. Revenue changed by +10.0% at Digital Realty Trust and +12.2% at Iron Mountain on the year before, so Iron Mountain grew faster. Digital Realty Trust kept 21.4% of its revenue as net profit, Iron Mountain 2.1%.

Side by side, latest fiscal year

DLRIRM
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$6.1B$6.9B
Revenue growth+10.0%+12.2%
Net income$1.3B$144.6M
Net margin21.4%2.1%
Free cash flown/a-$931.6M
Free cash flow marginn/a-13.5%
Earnings per share (diluted)$3.58$0.49
Cash$3.5B$158.5M
Debtn/a$16.4B
Price to earnings49.9227.3
Market value$66.1B$33.2B
Dividend yieldn/a2.89%
Rank by revenue in sector#8 of 162 · Real estate#5 of 162 · Real estate

Over the years

Revenue
DLR FY2018: $3BDLR FY2019: $3.2BDLR FY2020: $3.9BDLR FY2021: $4.4BDLR FY2022: $4.7BDLR FY2023: $5.5BDLR FY2024: $5.6BDLR FY2025: $6.1BIRM FY2018: $4.2BIRM FY2019: $4.3BIRM FY2020: $4.1BIRM FY2021: $4.5BIRM FY2022: $5.1BIRM FY2023: $5.5BIRM FY2024: $6.1BIRM FY2025: $6.9BFY18FY19FY20FY21FY22FY23FY24FY25
DLR $6.1BIRM $6.9B
Net income
DLR FY2018: $331.2MDLR FY2019: $579.8MDLR FY2020: $356.4MDLR FY2021: $1.7BDLR FY2022: $377.7MDLR FY2023: $948.8MDLR FY2024: $602.5MDLR FY2025: $1.3BIRM FY2018: $353.9MIRM FY2019: $267.4MIRM FY2020: $342.7MIRM FY2021: $450.2MIRM FY2022: $557MIRM FY2023: $184.2MIRM FY2024: $180.2MIRM FY2025: $144.6MFY18FY19FY20FY21FY22FY23FY24FY25
DLR $1.3BIRM $144.6M
Net margin
DLR FY2018: 10.9%DLR FY2019: 18.1%DLR FY2020: 9.1%DLR FY2021: 38.6%DLR FY2022: 8.0%DLR FY2023: 17.3%DLR FY2024: 10.8%DLR FY2025: 21.4%IRM FY2018: 8.4%IRM FY2019: 6.3%IRM FY2020: 8.3%IRM FY2021: 10.0%IRM FY2022: 10.9%IRM FY2023: 3.4%IRM FY2024: 2.9%IRM FY2025: 2.1%FY18FY19FY20FY21FY22FY23FY24FY25
DLR 21.4%IRM 2.1%
Revenue growth
DLR FY2019: +5.3%DLR FY2020: +21.6%DLR FY2021: +13.4%DLR FY2022: +6.0%DLR FY2023: +16.7%DLR FY2024: +1.4%DLR FY2025: +10.0%IRM FY2019: +0.9%IRM FY2020: -2.7%IRM FY2021: +8.3%IRM FY2022: +13.6%IRM FY2023: +7.4%IRM FY2024: +12.2%IRM FY2025: +12.2%FY19FY20FY21FY22FY23FY24FY25
DLR +10.0%IRM +12.2%
Free cash flow
IRM FY2018: $475.5MIRM FY2019: $273.7MIRM FY2020: $549.4MIRM FY2021: $147.8MIRM FY2022: $52.3MIRM FY2023: -$225.7MIRM FY2024: -$594.9MIRM FY2025: -$931.6MFY18FY19FY20FY21FY22FY23FY24FY25
DLRIRM -$931.6M

Fiscal years as each company reports them; the two may end in different months.

Questions about Digital Realty Trust and Iron Mountain

Which is bigger by revenue, Digital Realty Trust or Iron Mountain?

Iron Mountain is bigger by revenue: $6.9B in fiscal 2025, against $6.1B for Digital Realty Trust in fiscal 2025.

Which keeps more of its revenue as profit, Digital Realty Trust or Iron Mountain?

Digital Realty Trust had a net margin of 21.4% in fiscal 2025; Iron Mountain had 2.1% in fiscal 2025.

Which grew revenue faster, Digital Realty Trust or Iron Mountain?

In their latest fiscal years revenue changed by +10.0% at Digital Realty Trust and +12.2% at Iron Mountain.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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