GDS Holdings Limited(GDS)Earnings, Financials & Key Ratios
GDS•NASDAQ
50.2× P/E·Price updated Jun 19, 2026
AboutGDS Holdings Limited, together with its subsidiaries, develops and operates data centers in the People's Republic of China. The company provides colocation services comprising critical facilities space, customer-available power, racks, and cooling; managed hosting services, including business continuity and disaster recovery, network management, data storage, system security, operating system, database, and server middleware services; managed cloud services; and consulting services. It serves cloud service providers, large Internet companies, financial institutions, telecommunications and IT service providers, and large domestic private sector and multinational corporations. The company was founded in 2001 and is headquartered in Shanghai, the People's Republic of China.Show more
- Revenue$11.12B+7.7%
- EBITDA$4.83B+7.2%
- Net Income$924M-73.0%
- EPS (Diluted)4.24+193.0%
- Gross Margin20.45%-5.0%
- EBITDA Margin43.43%-0.5%
- Operating Margin13.17%+18.0%
- Net Margin8.31%-75.0%
- ROE3.59%-77.0%
GDS Key Insights
GDS Holdings Limited (GDS) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓High quality earnings: Operating CF exceeds net income
- ✓Strong 5Y sales CAGR of 14.1%
✗Weaknesses
- ✗Negative free cash flow
- ✗Weak momentum: RS Rating 19 (bottom 19%)
- ✗Shares diluted 12.0% in last year
- ✗Trading more than 30% below 52-week high
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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GDS Price & Volume
GDS Holdings Limited (GDS) stock price & volume — 10-year historical chart
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GDS Growth Metrics
GDS Holdings Limited (GDS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years31.79%
5 Years14.15%
3 Years6.04%
TTM7.22%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-37.68%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM7228.57%
Return on Capital
10 Years0.73%
5 Years0.42%
3 Years0.04%
Last Year2.13%
GDS Recent Earnings
GDS Holdings Limited (GDS) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 11/12 qtrs (92%)●Beat Revenue 5/12 qtrs (42%)
Q2 2026Latest
May 20, 2026Metric
Actual
Est
EPS
$1.53+4689.1%
$0.03
Rev
$488M+11.8%
$436M
Q2 2026
Mar 17, 2026Metric
Actual
Est
EPS
$0.56+1500.0%
$0.04
Rev
$418M-0.8%
$421M
Q4 2025
Nov 19, 2025Metric
Actual
Est
EPS
$0.45+850.0%
$0.06
Rev
$405M-0.7%
$408M
Q3 2025
Aug 20, 2025Metric
Actual
Est
EPS
$0.06+45.5%
$0.11
Rev
$404M+0.5%
$403M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 20, 2026 | $1.53vs $0.03+4689.1% | $488Mvs $436M+11.8% |
| Q2 2026 | Mar 17, 2026 | $0.56vs $0.04+1500.0% | $418Mvs $421M-0.8% |
| Q4 2025 | Nov 19, 2025 | $0.45vs $0.06+850.0% | $405Mvs $408M-0.7% |
| Q3 2025 | Aug 20, 2025 | $0.06vs $0.11+45.5% | $404Mvs $403M+0.5% |
Based on last 12 quarters of dataView full earnings history →
GDS Peer Comparison
GDS Holdings Limited (GDS) competitors in Data Centers and Cloud Infrastructure — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 VNET | 2.4B | 8.75 | -65.74 | 17.18% | -21.78% | -26.68% | 3.14 | |
 BTBT | 706.64M | 2.17 | -7 | -30.65% | -146.01% | -0.11% | 0.16 | |
 DLR | 64.65B | 188.15 | 52.56 | 10.04% | 21.14% | 5.35% | 0.97 | |
 EQIX | 107.72B | 1092.19 | 79.37 | 5.85% | 15.03% | 10.02% | 1.60 | |
 COR | 52.89B | 271.83 | 34.15 | 9.31% | 0.78% | 105.78% | 6.15 | |
 CSCO | 471.16B | 119.54 | 46.88 | 5.3% | 19.69% | 25.14% | 0.60 | |
 NVDA | 5.1T | 210.69 | 43.00 | 65.47% | 62.97% | 111.66% | 0.07 | |
 AMD | 876.1B | 537.37 | 202.78 | 34.34% | 13.33% | 8.05% | 0.07 |
Compare GDS vs Peers
GDS Holdings Limited (GDS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
GDS Income Statement
GDS Holdings Limited (GDS) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Sales/Revenue | 1.62B | 2.79B | 4.12B | 5.74B | 7.82B | 9.33B | 9.96B | 10.32B | 11.12B | 12.02B |
Revenue Growth % | 53.05% | 72.76% | 47.65% | 39.21% | 36.24% | 19.27% | 6.76% | 3.67% | 7.74% | 7.22% |
Cost of Goods Sold | 1.21B | 2.17B | 3.08B | 4.19B | 6.04B | 7.39B | 8.03B | 8.1B | 8.85B | 9.07B |
COGS % of Revenue | 74.73% | 77.71% | 74.71% | 72.98% | 77.24% | 79.24% | 80.69% | 78.47% | 79.55% | - |
Gross Profit | 408.47M▲ 0% | 622.44M▲ 52.4% | 1.04B▲ 67.5% | 1.55B▲ 48.7% | 1.78B▲ 14.8% | 1.94B▲ 8.8% | 1.92B▼ 0.7% | 2.22B▲ 15.6% | 2.27B▲ 2.3% | 2.95B▲ 0% |
Gross Margin % | 25.27% | 22.29% | 25.29% | 27.02% | 22.76% | 20.76% | 19.31% | 21.53% | 20.45% | 24.55% |
Gross Profit Growth % | 53.75% | 52.38% | 67.52% | 48.69% | 14.77% | 8.79% | -0.69% | 15.61% | 2.33% | - |
Operating Expenses | 326.24M | 454.09M | 562.95M | 877.51M | 1.21B | 1.37B | 4.38B | 1.07B | 809.92M | 911.97M |
OpEx % of Revenue | 20.19% | 16.26% | 13.66% | 15.29% | 15.47% | 14.7% | 44% | 10.37% | 7.28% | - |
Selling, General & Admin | 318.98M | 440.17M | 541.32M | 837.46M | 1.17B | 1.34B | 1.33B | 1.03B | 778.11M | 877.76M |
SG&A % of Revenue | 19.74% | 15.77% | 13.13% | 14.59% | 14.97% | 14.32% | 13.35% | 10.02% | 7% | - |
Research & Development | 7.26M | 13.91M | 21.63M | 40.05M | 39.34M | 35.81M | 38.16M | 36.32M | 31.81M | 34.21M |
R&D % of Revenue | 0.45% | 0.5% | 0.52% | 0.7% | 0.5% | 0.38% | 0.38% | 0.35% | 0.29% | - |
Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 3.01B | 0 | 0 | 7 |
Operating Income | 82.23M▲ 0% | 168.35M▲ 104.7% | 479.78M▲ 185.0% | 672.94M▲ 40.3% | 569.52M▼ 15.4% | 551.78M▼ 3.1% | -2.46B▼ 545.6% | 1.15B▲ 146.9% | 1.46B▲ 27.1% | 2.04B▲ 0% |
Operating Margin % | 5.09% | 6.03% | 11.64% | 11.73% | 7.28% | 5.92% | -24.69% | 11.16% | 13.17% | 16.96% |
Operating Income Growth % | 294.06% | 104.74% | 184.98% | 40.26% | -15.37% | -3.12% | -545.6% | 146.85% | 27.12% | - |
EBITDA | 460.36M | 909.86M | 1.62B | 2.33B | 3.23B | 3.84B | 1.17B | 4.51B | 4.83B | 5.46B |
EBITDA Margin % | 28.48% | 32.59% | 39.34% | 40.63% | 41.27% | 41.21% | 11.74% | 43.65% | 43.43% | 45.42% |
EBITDA Growth % | 148.87% | 97.64% | 78.25% | 43.78% | 38.38% | 19.09% | -69.57% | 285.29% | 7.2% | 17.33% |
D&A (Non-Cash Add-back) | 378.13M | 741.51M | 1.14B | 1.66B | 2.66B | 3.29B | 3.63B | 3.35B | 3.37B | 3.42B |
EBIT | 82.23M | 168.35M | 479.78M | 672.94M | 569.52M | 898M | -2.26B | 1.15B | 1.46B | 2.05B |
Net Interest Income | -406.4M | -636.97M | -915.68M | -1.29B | -1.6B | -1.84B | -1.94B | -1.83B | -1.59B | -1.24B |
Interest Income | 5.6M | 19.21M | 53.02M | 29.01M | 50.45M | 42.23M | 97.55M | 89.78M | 0 | 0 |
Interest Expense | 412M | 656.19M | 968.69M | 1.32B | 1.65B | 1.88B | 2.04B | 1.92B | 1.59B | 1.24B |
Other Income/Expense | -415.2M | -608.01M | -906.21M | -1.22B | -1.52B | -1.54B | -1.84B | -1.77B | -74.32M | 1.18B |
Pretax Income | -332.98M▲ 0% | -439.66M▼ 32.0% | -426.43M▲ 3.0% | -548.44M▼ 28.6% | -948.75M▼ 73.0% | -989.88M▼ 4.3% | -4.3B▼ 334.4% | -614.86M▲ 85.7% | 1.39B▲ 326.1% | 3.22B▲ 0% |
Pretax Margin % | -20.6% | -15.75% | -10.34% | -9.56% | -12.13% | -10.61% | -43.19% | -5.96% | 12.5% | 26.76% |
Income Tax | -6.08M | -9.39M | 15.65M | 120.78M | 242.46M | 276.24M | -14.78M | 156.05M | 456.92M | 377.74M |
Effective Tax Rate % | 1.82% | 2.14% | -3.67% | -22.02% | -25.56% | -27.91% | 0.34% | -25.38% | 32.87% | 11.75% |
Net Income | -326.9M▲ 0% | -430.27M▼ 31.6% | -442.08M▼ 2.7% | -669.21M▼ 51.4% | -1.19B▼ 78.0% | -1.27B▼ 6.3% | -4.29B▼ 238.8% | 3.43B▲ 179.8% | 923.77M▼ 73.0% | 2.83B▲ 0% |
Net Margin % | -20.23% | -15.41% | -10.72% | -11.66% | -15.24% | -13.58% | -43.09% | 33.19% | 8.31% | 23.52% |
Net Income Growth % | -18.27% | -31.62% | -2.75% | -51.38% | -78% | -6.29% | -238.84% | 179.84% | -73.03% | -37.68% |
Net Income (Continuing) | -326.9M | -430.27M | -442.08M | -669.21M | -1.19B | -1.27B | -4.29B | -770.91M | 933.22M | 2.84B |
Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.2B | 0 | 0 |
Minority Interest | 0 | 0 | 0 | 120.82M | 59.17M | 116.59M | 165.58M | 129.93M | 897.96M | 897.23M |
EPS (Diluted) | -3.33▲ 0% | -3.48▼ 4.5% | -3.63▼ 4.3% | -4.71▼ 29.8% | -7.23▼ 53.5% | -8.25▼ 14.1% | -23.67▼ 186.9% | -4.56▲ 80.7% | 4.24▲ 193.0% | 11.13▲ 0% |
EPS Growth % | 54.76% | -4.5% | -4.31% | -29.75% | -53.5% | -14.11% | -186.91% | 80.74% | 192.98% | 7228.57% |
EPS (Basic) | -3.33 | -3.48 | -3.63 | -4.71 | -7.23 | -8.25 | -23.67 | -4.56 | 4.64 | - |
Diluted Shares Outstanding | 98.07M | 123.78M | 137.87M | 156.69M | 181.61M | 183.06M | 183.52M | 183.52M | 205.57M | 253.96M |
Basic Shares Outstanding | 98.07M | 123.78M | 121.85M | 145.5M | 174.83M | 176.85M | 181.26M | 183.52M | 190.07M | 194.29M |
Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - |
GDS Balance Sheet
GDS Holdings Limited (GDS) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Total Current Assets | 2.45B | 3.04B | 7.08B | 18.32B | 14.46B | 11.95B | 10.98B | 11.61B | 18.56B | 23.49B |
Cash & Short-Term Investments | 1.87B | 2.16B | 5.81B | 16.26B | 9.97B | 8.61B | 7.71B | 7.87B | 14.97B | 14.77B |
Cash Only | 1.87B | 2.16B | 5.81B | 16.26B | 9.97B | 8.61B | 7.71B | 7.87B | 14.32B | 14.77B |
Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 667.74M | 0 |
Accounts Receivable | 364.65M | 536.84M | 879.96M | 1.48B | 1.73B | 2.41B | 2.55B | 3.26B | 3.03B | 3.24B |
Days Sales Outstanding | 82.35 | 70.18 | 77.91 | 94.15 | 80.89 | 94.17 | 93.33 | 115.36 | 99.48 | 93.57 |
Inventory | 103.61M | 64.93M | 115.21M | 250.81M | 0 | 0 | 0 | 0 | 0 | 0 |
Days Inventory Outstanding | 31.31 | 10.92 | 13.65 | 21.86 | - | - | - | - | - | - |
Other Current Assets | 165.56M | 274.09M | 312.9M | 415.03M | 2.56B | 750.11M | 552.08M | 482.95M | 554.65M | 5.49B |
Total Non-Current Assets | 10.69B | 17.85B | 24.41B | 38.94B | 57.17B | 62.86B | 63.46B | 62.04B | 61.49B | 60.33B |
Property, Plant & Equipment | 8.17B | 13.99B | 19.98B | 32.66B | 44.65B | 52.55B | 52.94B | 45.4B | 42.91B | 42.53B |
Fixed Asset Turnover | 0.20x | 0.20x | 0.21x | 0.18x | 0.18x | 0.18x | 0.19x | 0.23x | 0.26x | 0.28x |
Goodwill | 1.57B | 1.75B | 2.3B | 3.38B | 8.36B | 8.12B | 7.08B | 0 | 5.19B | 0 |
Intangible Assets | 374.71M | 1.24B | 747.19M | 678.19M | 634.95M | 23M | 710.94M | 6.39B | 289.46M | 5.4B |
Long-Term Investments | -14.3M | -36.97M | -72.93M | -146.09M | -186.5M | 0 | 0 | 7.54B | 10.06B | 35.7B |
Other Non-Current Assets | 605.72M | 1.62B | 1.38B | 2.22B | 3.52B | 1.94B | 2.45B | 2.7B | 3.05B | 3.09B |
Total Assets | 13.14B▲ 0% | 20.89B▲ 58.9% | 31.49B▲ 50.8% | 57.26B▲ 81.8% | 71.63B▲ 25.1% | 74.81B▲ 4.4% | 74.45B▼ 0.5% | 73.65B▼ 1.1% | 80.05B▲ 8.7% | 83.82B▲ 0% |
Asset Turnover | 0.12x | 0.13x | 0.13x | 0.10x | 0.11x | 0.12x | 0.13x | 0.14x | 0.14x | 0.15x |
Asset Growth % | 60.22% | 58.89% | 50.79% | 81.82% | 25.1% | 4.44% | -0.49% | -1.07% | 8.69% | 18.31% |
Total Current Liabilities | 2.42B | 3.51B | 4B | 7.64B | 13.47B | 10.6B | 8.31B | 9.08B | 7.13B | 12.59B |
Accounts Payable | 1.11B | 1.51B | 1.68B | 3.66B | 3.9B | 3.09B | 3.42B | 2.59B | 1.93B | 1.9B |
Days Payables Outstanding | 335.6 | 253.7 | 198.63 | 318.69 | 235.82 | 152.77 | 155.6 | 116.87 | 79.77 | 85 |
Short-Term Debt | 790.48M | 1.28B | 1.14B | 2.15B | 5.95B | 5.71B | 2.83B | 4.34B | 2.95B | 9.44B |
Deferred Revenue (Current) | 55.61M | 77.88M | 96.32M | 96.67M | 90.99M | 156.13M | 119.89M | 0 | 113.83M | 113.83M |
Other Current Liabilities | 424.08M | 552.83M | 1.09B | 0 | 0 | 0 | 0 | 0 | 989.91M | 1.24B |
Current Ratio | 1.01x | 0.87x | 1.77x | 2.40x | 1.07x | 1.13x | 1.32x | 1.28x | 2.60x | 1.87x |
Quick Ratio | 0.97x | 0.85x | 1.74x | 2.36x | 1.07x | 1.13x | 1.32x | 1.28x | 2.60x | 1.87x |
Cash Conversion Cycle | -221.93 | -172.59 | -107.07 | -202.69 | - | - | - | - | - | 8.57 |
Total Non-Current Liabilities | 6.25B | 11.86B | 17.2B | 24.05B | 33.63B | 40.03B | 46.02B | 40.9B | 45.16B | 38.91B |
Long-Term Debt | 3.46B | 7.21B | 10.08B | 12.5B | 20.18B | 27.81B | 35.14B | 30.48B | 35.53B | 30.77B |
Capital Lease Obligations | 2.3B | 4.13B | 5.46B | 9.64B | 10.82B | 10.53B | 9.29B | 8.88B | 8.26B | 31.96B |
Deferred Tax Liabilities | 124.28M | 171.88M | 252.67M | 462.01M | 734.28M | 1.41B | 0 | 0 | 1.14B | 1.14B |
Other Non-Current Liabilities | 342.11M | 331.04M | 1.39B | 1.43B | 1.84B | 207.81M | 1.59B | 1.54B | 113.55M | 1.34B |
Total Liabilities | 8.67B | 15.36B | 21.2B | 31.69B | 47.1B | 50.63B | 54.32B | 49.98B | 52.29B | 51.5B |
Total Debt | 6.65B | 12.79B | 16.95B | 24.63B | 37.79B | 44.68B | 47.99B | 44.46B | 47.55B | 47.01B |
Net Debt | 4.78B | 10.63B | 11.14B | 8.37B | 27.82B | 36.08B | 40.28B | 36.59B | 33.24B | 32.24B |
Debt / Equity | 1.49x | 2.32x | 1.65x | 0.96x | 1.54x | 1.85x | 2.38x | 1.88x | 1.71x | 1.45x |
Debt / EBITDA | 14.45x | 14.06x | 10.45x | 10.56x | 11.71x | 11.63x | 41.04x | 9.87x | 9.85x | 8.61x |
Net Debt / EBITDA | 10.38x | 11.68x | 6.87x | 3.59x | 8.62x | 9.39x | 34.45x | 8.12x | 6.88x | 5.91x |
Interest Coverage | 0.20x | 0.26x | 0.50x | 0.51x | 0.34x | 0.48x | -1.11x | 0.60x | 0.92x | 1.65x |
Total Equity | 4.48B▲ 0% | 5.52B▲ 23.4% | 10.29B▲ 86.4% | 25.69B▲ 149.5% | 24.53B▼ 4.5% | 24.18B▼ 1.4% | 20.12B▼ 16.8% | 23.67B▲ 17.6% | 27.75B▲ 17.3% | 32.32B▲ 0% |
Equity Growth % | 49.86% | 23.38% | 86.41% | 149.54% | -4.49% | -1.42% | -16.79% | 17.62% | 17.26% | 69.39% |
Book Value per Share | 45.64 | 44.61 | 74.66 | 163.93 | 135.08 | 132.12 | 109.65 | 128.97 | 135.01 | 127.27 |
Total Shareholders' Equity | 4.48B | 5.52B | 10.29B | 25.57B | 24.47B | 24.07B | 19.96B | 23.54B | 26.86B | 31.42B |
Common Stock | 320K | 341K | 412K | 507K | 507K | 516K | 516K | 527K | 562.35K | 559.9K |
Retained Earnings | -1.19B | -1.62B | -2.06B | -2.72B | -3.91B | -5.18B | -9.47B | -6.04B | -5.1B | -2.44B |
Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accumulated OCI | -200.69M | -139.25M | -52.68M | -439.63M | -599.19M | -848.36M | -974.39M | -1.09B | -829.85M | -866.19M |
Minority Interest | 0 | 0 | 0 | 120.82M | 59.17M | 116.59M | 165.58M | 129.93M | 897.96M | 897.23M |
GDS Cash Flow Statement
GDS Holdings Limited (GDS) cash flow — operating, investing & free cash flow history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | -174.61M | -12.91M | 293.44M | 320.89M | 1.2B | 2.86B | 2.07B | 1.94B | 3.27B | 3.01B |
Operating CF Margin % | -10.8% | -0.46% | 7.12% | 5.59% | 15.37% | 30.65% | 20.74% | 18.78% | 29.44% | - |
Operating CF Growth % | -16.23% | 92.61% | 2372.94% | 9.35% | 274.39% | 137.9% | -27.74% | -6.14% | 68.88% | 61.55% |
Net Income | -326.9M | -430.27M | -442.08M | -669.21M | -1.19B | -1.27B | -4.29B | 3.43B | 923.77M | 2.83B |
Depreciation & Amortization | 378.13M | 741.51M | 1.14B | 1.64B | 2.62B | 3.19B | 3.63B | 3.35B | 3.37B | 3.44B |
Stock-Based Compensation | 59.84M | 105.88M | 189.76M | 333.69M | 391.27M | 290.81M | 336.62M | 296.49M | 0 | 61.2M |
Deferred Taxes | -11.62M | -36.6M | -50.17M | -89.74M | -48.46M | -99.15M | -295.93M | 0 | 0 | 0 |
Other Non-Cash Items | 48.1M | 63.83M | 100.16M | 131.11M | 242.76M | 69.36M | 3.17B | -4.59B | -1.11B | -2.31B |
Working Capital Changes | -322.16M | -457.25M | -646.26M | -1.02B | -809.89M | 674.09M | -484.86M | -543.7M | 91.42M | -1.01B |
Change in Receivables | -134.63M | -157.71M | -342.19M | -465.19M | -37.99M | -678.83M | -156.33M | -665.88M | 0 | 0 |
Change in Inventory | -285.72M | -303.71M | -359.33M | -692.71M | -847.05M | 0 | 0 | 0 | 0 | 0 |
Change in Payables | 33.9M | 25.29M | 22.54M | 119.16M | 35.5M | 189.71M | 17.98M | -15.63M | 0 | 0 |
Cash from Investing | -2.04B | -4.73B | -5.13B | -9.38B | -13.69B | -11.27B | -6.33B | -8.76B | -2.96B | -3.45B |
Capital Expenditures | -1.76B | -4.26B | -4.55B | -8.02B | -9.7B | -7.8B | -6.25B | -2.97B | -4.48B | -4.35B |
CapEx % of Revenue | 108.91% | 152.5% | 110.44% | 139.76% | 124.05% | 83.68% | 62.81% | 28.73% | 40.33% | 36.19% |
Acquisitions | -275.61M | -475.07M | -578.61M | -1.36B | -4.01B | -3.47B | -133.81M | 1.13B | 0 | 2.62B |
Investments | - | - | - | - | - | - | - | - | - | - |
Other Investing | -6.03M | -1M | -30.7M | 4.5M | 20.87M | 6.24M | 61.3M | -6.92B | 2.18B | -3.74B |
Cash from Financing | 2.35B | 4.88B | 8.36B | 20.14B | 8.12B | 4.86B | 3.14B | 17.06B | 5.94B | 7.67B |
Debt Issued (Net) | 1.79B | 3.82B | 2.38B | 3.18B | 7.02B | 4.98B | 3.24B | 83.24M | 0 | 0 |
Equity Issued (Net) | 0 | 0 | 5.92B | 15.97B | 0 | 0 | 0 | 0 | 0 | 0 |
Dividends Paid | 0 | 0 | -25.01M | -65.49M | -49.22M | -51.58M | -53.92M | -54.17M | 0 | 0 |
Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Financing | 566.61M | 1.05B | 81.41M | 1.06B | 1.15B | -68.45M | -44.86M | 17.06B | 5.94B | 7.67B |
Net Change in Cash | 62.13M▲ 0% | 337.15M▲ 442.7% | 3.69B▲ 994.0% | 10.52B▲ 185.2% | -4.47B▼ 142.5% | -3.14B▲ 29.6% | -964.13M▲ 69.3% | 10.22B▲ 1160.2% | 6.71B▼ 34.3% | 7.47B▲ 0% |
Free Cash Flow | -1.93B▲ 0% | -4.27B▼ 120.7% | -4.26B▲ 0.3% | -7.7B▼ 80.8% | -8.5B▼ 10.4% | -4.95B▲ 41.8% | -4.19B▲ 15.3% | -1.32B▲ 68.6% | -1.21B▲ 8.0% | -1.34B▲ 0% |
FCF Margin % | -119.71% | -152.96% | -103.32% | -134.16% | -108.69% | -53.03% | -42.07% | -12.75% | -10.89% | -11.16% |
FCF Growth % | -70.03% | -120.74% | 0.27% | -80.78% | -10.36% | 41.8% | 15.31% | 68.58% | 7.96% | 61.07% |
FCF per Share | -19.73 | -34.50 | -30.89 | -49.14 | -46.79 | -27.02 | -22.82 | -7.17 | -5.89 | -5.28 |
FCF Conversion (FCF/Net Income) | 0.53x | 0.03x | -0.66x | -0.48x | -1.01x | -2.26x | -0.48x | 0.57x | 3.54x | -0.47x |
Interest Paid | 358.75M | 633.06M | 841.39M | 1.11B | 1.54B | 1.8B | 2.06B | 2.1B | 0 | 0 |
Taxes Paid | 1.37M | 3.37M | 17.03M | 211.61M | 252.07M | 343.35M | 302.72M | 389.84M | 0 | 0 |
GDS Key Ratios
GDS Holdings Limited (GDS) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Return on Equity (ROE) | -8.76% | -8.61% | -5.59% | -3.72% | -4.74% | -5.2% | -19.36% | 15.64% | 3.59% | 10.05% |
Return on Invested Capital (ROIC) | 0.84% | 0.99% | 1.91% | 1.82% | 0.99% | 0.73% | -3.06% | 1.43% | 1.81% | 2.48% |
Gross Margin | 25.27% | 22.29% | 25.29% | 27.02% | 22.76% | 20.76% | 19.31% | 21.53% | 20.45% | 24.55% |
Net Margin | -20.23% | -15.41% | -10.72% | -11.66% | -15.24% | -13.58% | -43.09% | 33.19% | 8.31% | 23.52% |
Debt / Equity | 1.49x | 2.32x | 1.65x | 0.96x | 1.54x | 1.85x | 2.38x | 1.88x | 1.71x | 1.45x |
Interest Coverage | 0.20x | 0.26x | 0.50x | 0.51x | 0.34x | 0.48x | -1.11x | 0.60x | 0.92x | 1.65x |
FCF Conversion | 0.53x | 0.03x | -0.66x | -0.48x | -1.01x | -2.26x | -0.48x | 0.57x | 3.54x | -0.47x |
Revenue Growth | 53.05% | 72.76% | 47.65% | 39.21% | 36.24% | 19.27% | 6.76% | 3.67% | 7.74% | 7.22% |
Related:GDS Dividend History·GDS Revenue History·GDS Price History·GDS P/E History·GDS Financial Ratios·GDS Institutional Holders
GDS Frequently Asked Questions
GDS Holdings Limited (GDS) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
GDS Holdings Limited (GDS) reported $12.02B in revenue for fiscal year 2025. This represents a 2466% increase from $468.3M in 2014.
GDS Holdings Limited (GDS) grew revenue by 7.7% over the past year. This is steady growth.
Yes, GDS Holdings Limited (GDS) is profitable, generating $2.83B in net income for fiscal year 2025 (8.3% net margin).
Dividend & Returns
GDS Holdings Limited (GDS) has a return on equity (ROE) of 3.6%. This is below average, suggesting room for improvement.
GDS Holdings Limited (GDS) had negative free cash flow of $1.34B in fiscal year 2025, likely due to heavy capital investments.