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Side-by-side financial comparison of Iron Mountain (IRM) and PLEXUS CORP (PLXS). Click either name above to swap in a different company.
Iron Mountain is the larger business by last-quarter revenue ($1.8B vs $1.2B, roughly 1.6× PLEXUS CORP). Iron Mountain runs the higher net margin — 5.1% vs 4.3%, a 0.8% gap on every dollar of revenue. On growth, PLEXUS CORP posted the faster year-over-year revenue change (18.7% vs 16.6%). Over the past eight quarters, Iron Mountain's revenue compounded faster (11.7% CAGR vs 7.2%).
Iron Mountain Inc. is an American enterprise information management services company founded in 1951 and headquartered in Portsmouth, New Hampshire. Its records management, information destruction, and data backup and recovery services are supplied to more than 220,000 customers in 58 countries throughout North America, Europe, Latin America, Africa, Asia, and Oceania.
Plex Systems, Inc. is an American software company based in Troy, Michigan. The company develops and markets the Plex Manufacturing Cloud, a software as a service (SaaS) or cloud computing ERP for manufacturing.
IRM vs PLXS — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.8B | $1.2B |
| Net Profit | $93.1M | $49.8M |
| Gross Margin | — | 10.2% |
| Operating Margin | 18.5% | 5.3% |
| Net Margin | 5.1% | 4.3% |
| Revenue YoY | 16.6% | 18.7% |
| Net Profit YoY | -11.9% | 27.5% |
| EPS (diluted) | $0.31 | $1.82 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $1.1B | ||
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.6B | — | ||
| Q2 24 | $1.5B | — |
| Q1 26 | — | $41.2M | ||
| Q4 25 | $93.1M | — | ||
| Q3 25 | $86.2M | — | ||
| Q2 25 | $-43.3M | — | ||
| Q1 25 | $16.2M | — | ||
| Q4 24 | $105.7M | — | ||
| Q3 24 | $-33.7M | — | ||
| Q2 24 | $34.6M | — |
| Q1 26 | — | 9.9% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | 5.1% | ||
| Q4 25 | 18.5% | — | ||
| Q3 25 | 17.6% | — | ||
| Q2 25 | 15.2% | — | ||
| Q1 25 | 16.0% | — | ||
| Q4 24 | 17.9% | — | ||
| Q3 24 | 16.1% | — | ||
| Q2 24 | 15.0% | — |
| Q1 26 | — | 3.8% | ||
| Q4 25 | 5.1% | — | ||
| Q3 25 | 4.9% | — | ||
| Q2 25 | -2.5% | — | ||
| Q1 25 | 1.0% | — | ||
| Q4 24 | 6.7% | — | ||
| Q3 24 | -2.2% | — | ||
| Q2 24 | 2.3% | — |
| Q1 26 | — | $1.51 | ||
| Q4 25 | $0.31 | — | ||
| Q3 25 | $0.28 | — | ||
| Q2 25 | $-0.15 | — | ||
| Q1 25 | $0.05 | — | ||
| Q4 24 | $0.35 | — | ||
| Q3 24 | $-0.11 | — | ||
| Q2 24 | $0.12 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $158.5M | $303.1M |
| Total DebtLower is stronger | $16.2B | — |
| Stockholders' EquityBook value | $-981.0M | $1.5B |
| Total Assets | $21.1B | $3.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $248.8M | ||
| Q4 25 | $158.5M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $155.7M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $16.2B | — | ||
| Q3 25 | $15.5B | — | ||
| Q2 25 | $14.8B | — | ||
| Q1 25 | $14.2B | — | ||
| Q4 24 | $13.0B | — | ||
| Q3 24 | $13.2B | — | ||
| Q2 24 | $12.8B | — |
| Q1 26 | — | $1.5B | ||
| Q4 25 | $-981.0M | — | ||
| Q3 25 | $-882.0M | — | ||
| Q2 25 | $-767.4M | — | ||
| Q1 25 | $-698.5M | — | ||
| Q4 24 | $-503.1M | — | ||
| Q3 24 | $-259.0M | — | ||
| Q2 24 | $-132.9M | — |
| Q1 26 | — | $3.2B | ||
| Q4 25 | $21.1B | — | ||
| Q3 25 | $20.6B | — | ||
| Q2 25 | $20.2B | — | ||
| Q1 25 | $19.4B | — | ||
| Q4 24 | $18.7B | — | ||
| Q3 24 | $18.5B | — | ||
| Q2 24 | $18.0B | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $500.0M | — |
| Free Cash FlowOCF − Capex | $-16.2M | — |
| FCF MarginFCF / Revenue | -0.9% | — |
| Capex IntensityCapex / Revenue | 28.0% | — |
| Cash ConversionOCF / Net Profit | 5.37× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-931.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $500.0M | — | ||
| Q3 25 | $267.6M | — | ||
| Q2 25 | $375.1M | — | ||
| Q1 25 | $197.3M | — | ||
| Q4 24 | $431.6M | — | ||
| Q3 24 | $252.9M | — | ||
| Q2 24 | $382.2M | — |
| Q1 26 | — | — | ||
| Q4 25 | $-16.2M | — | ||
| Q3 25 | $-256.3M | — | ||
| Q2 25 | $-181.6M | — | ||
| Q1 25 | $-477.5M | — | ||
| Q4 24 | $-186.0M | — | ||
| Q3 24 | $-143.2M | — | ||
| Q2 24 | $-14.6M | — |
| Q1 26 | — | — | ||
| Q4 25 | -0.9% | — | ||
| Q3 25 | -14.6% | — | ||
| Q2 25 | -10.6% | — | ||
| Q1 25 | -30.0% | — | ||
| Q4 24 | -11.8% | — | ||
| Q3 24 | -9.2% | — | ||
| Q2 24 | -1.0% | — |
| Q1 26 | — | — | ||
| Q4 25 | 28.0% | — | ||
| Q3 25 | 29.9% | — | ||
| Q2 25 | 32.5% | — | ||
| Q1 25 | 42.4% | — | ||
| Q4 24 | 39.1% | — | ||
| Q3 24 | 25.4% | — | ||
| Q2 24 | 25.9% | — |
| Q1 26 | — | — | ||
| Q4 25 | 5.37× | — | ||
| Q3 25 | 3.10× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 12.15× | — | ||
| Q4 24 | 4.08× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 11.04× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IRM
| Storage Rental | $1.1B | 58% |
| Services | $781.9M | 42% |
PLXS
| Asia-Pacific | $652.0M | 56% |
| Americas | $397.0M | 34% |
| Europe, Middle East and Africa | $116.0M | 10% |
