• Iron Mountain average return on tangible equity for 2023 was -6.14, a 29.02% decline from 2022.
• Iron Mountain average return on tangible equity for 2022 was -8.65, a 18.47% decline from 2021.
• Iron Mountain average return on tangible equity for 2021 was -10.61, a 97.95% decline from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.