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DLR-PK

Digital Realty Trust, Inc.

DLR-PK

Digital Realty Trust, Inc. • NYSE
$23.87 ▼ -0.71% (-0.17)
Market Cap $56.68 B
52w High $25.17
52w Low $22.10
Dividend Yield 1.46%
P/E 4.94
Volume 26.46K
Outstanding Shares 2.36B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.577B ▲ $733.071M ▲ $67.812M ▼ 4.299% ▼ $0.17 ▼ $580.41M ▼
Q2-2025 $1.493B ▲ $619.925M ▲ $1.032B ▲ 69.126% ▲ $3.03 ▲ $1.63B ▲
Q1-2025 $1.408B ▼ $606.563M ▼ $109.974M ▼ 7.813% ▼ $0.3 ▼ $665.003M ▼
Q4-2024 $1.436B ▲ $628.851M ▲ $189.569M ▲ 13.202% ▲ $0.54 ▲ $750.713M ▲
Q3-2024 $1.431B $606.567M $51.193M 3.577% $0.13 $636.361M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $3.3B ▼ $48.729B ▲ $23.739B ▼ $23.025B ▲
Q2-2025 $3.554B ▲ $48.715B ▲ $23.853B ▲ $22.915B ▲
Q1-2025 $2.322B ▼ $45.081B ▼ $21.902B ▼ $21.296B ▼
Q4-2024 $3.871B ▲ $45.284B ▼ $22.108B ▼ $21.34B ▲
Q3-2024 $2.176B $45.295B $22.119B $21.246B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $63.713M ▼ $652.861M ▲ $-729.558M ▼ $-176.504M ▼ $-255.682M ▼ $652.861M ▲
Q2-2025 $1.047B ▲ $641.237M ▲ $161.34M ▲ $555.831M ▲ $1.234B ▲ $641.237M ▲
Q1-2025 $106.395M ▼ $399.085M ▼ $-903.18M ▼ $-1.018B ▼ $-1.549B ▼ $399.085M ▼
Q4-2024 $185.688M ▲ $769.475M ▲ $-511.99M ▲ $1.541B ▲ $1.695B ▲ $769.475M ▲
Q3-2024 $40.134M $566.515M $-1.119B $474.351M $-105.126M $566.515M

Revenue by Products

Product Q2-2024Q3-2024Q4-2024Q3-2025
Fee Income And Other
Fee Income And Other
 $20.00M ▲$20.00M ▲$40.00M ▲$40.00M ▲
Rental And Other Services
Rental And Other Services
 $1.34Bn ▲$1.41Bn ▲$2.75Bn ▲$1.54Bn ▼

Five-Year Company Overview

Income Statement

Income Statement Digital Realty’s revenue has been climbing steadily over the past several years, showing that demand for its data centers continues to grow. Gross profit has risen along with it, which suggests the core business remains healthy. However, operating profit has not kept pace with revenue growth, pointing to rising costs or pricing pressure over time. Net income has been quite uneven, with one standout year followed by more modest results, likely influenced by one‑off gains or changes in interest, taxes, or asset sales. Overall, the business is growing in size, but profitability is somewhat bumpy and not on a smooth upward path.

Balance Sheet

Balance Sheet The balance sheet shows a large and expanding asset base, consistent with a capital‑intensive data center owner. Property and equipment remain the backbone of the company. Debt levels are high but have recently ticked down, while shareholders’ equity has been trending upward, which indicates that the company has been building its capital base over time. Cash on hand has risen sharply in the most recent years, giving the company more financial flexibility and a larger liquidity cushion. The overall picture is of a heavily invested infrastructure business with meaningful leverage, but also a solid equity foundation and improved cash reserves.

Cash Flow

Cash Flow Cash flow from operations has been steady to improving, showing that the underlying business generates reliable cash. A few years ago, the company was spending heavily on capital projects, which meant free cash flow after those investments was negative. More recently, reported capital spending has dropped sharply, and free cash flow has turned positive. This shift may reflect a pause or timing change in growth projects, asset recycling, or different ways of funding expansion. While the current free cash flow looks healthier, the nature of this business suggests that periods of heavy investment are likely to recur as the company continues to build and upgrade data centers.

Competitive Edge

Competitive Edge Digital Realty benefits from strong competitive advantages. It operates a very large global footprint of data centers, which is hard and expensive for new entrants to match. Its facilities act as key hubs where many networks, cloud providers, and enterprises interconnect, creating a powerful ecosystem effect: the more participants on the platform, the more valuable it becomes. Deep relationships with major cloud and technology companies provide relatively stable, long‑term demand, though they also introduce some customer concentration risk. Economies of scale help on costs and pricing. Combined, these factors give the company a wide competitive moat in the data center REIT space, even as competition from other large players remains intense.

Innovation and R&D

Innovation and R&D Innovation at Digital Realty is focused less on traditional R&D spending and more on platform design, infrastructure technology, and services around connectivity and AI. PlatformDIGITAL and PDx provide a standardized, global framework for deploying and connecting customer infrastructure, while ServiceFabric helps customers easily link into clouds, networks, and partners. On the technology side, the company is pushing advanced cooling and high‑density power setups tailored for AI and high‑performance computing, which not all rivals can support at scale. The Digital Realty Innovation Lab gives customers a place to test AI and hybrid cloud deployments in real data center environments, strengthening relationships and encouraging adoption of newer services. The firm is also experimenting with sustainable power and concepts like private AI exchanges, which, if executed well, could reinforce its positioning as a leading infrastructure partner for the next wave of digital and AI growth.

Summary

Digital Realty appears to be a scale player in a structurally growing area: data centers and digital infrastructure. Revenues and core profits have been trending upward, though earnings are uneven and cost pressures show up in operating margins. The balance sheet reflects a classic real estate infrastructure profile—large assets, meaningful leverage, but also a growing equity base and recently stronger cash balances. Cash generation from operations is solid; free cash flow has improved lately as investment spending has moderated, though future growth will likely require renewed capital outlays. Competitively, the company benefits from size, a global presence, dense interconnection ecosystems, and strong ties to major cloud and tech customers. Its innovation efforts are tightly aligned with AI, high‑density computing, and sustainable power, which could support future growth but also come with execution, capital, and technology risks. Overall, the company looks like a key long‑term infrastructure provider in a fast‑evolving digital and AI landscape, with both meaningful strengths and the typical risks of a highly capital‑intensive, leveraged business.