Digital Realty Trust, Inc. (DLR) 10-Year Financial Performance & Capital Metrics

DLR • • REIT / Real Estate

Real EstateOffice REITsSpecialized & Niche Office REITsData Center & Tech Infrastructure

AboutDigital Realty supports the world's leading enterprises and service providers by delivering the full spectrum of data center, colocation and interconnection solutions. PlatformDIGITALR, the company's global data center platform, provides customers a trusted foundation and proven Pervasive Datacenter Architecture PDxTM solution methodology for scaling digital business and efficiently managing data gravity challenges. Digital Realty's global data center footprint gives customers access to the connected communities that matter to them with more than 284 facilities in 48 metros across 23 countries on six continents.Show more

Revenue $5.55B +1.4%
FFO $2.37B -10.2%
FFO/Share 7.16 -16.3%
FFO Payout 68.79% +19.6%
FFO per Share 7.16 -16.3%
NOI Margin 54.65% +4.0%
FFO Margin 42.74% -11.5%
ROE 2.73% -41.6%
ROA 1.35% -39.2%
Debt/Assets 39.77% -7.5%
Net Debt/EBITDA 6.30 -19.4%
Book Value/Share 69.90 +2.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FFO growing 49.5% TTM
✓Sustainable FFO payout ratio of 68.8%
✓Healthy dividend yield of 3.1%

✗Weaknesses

✗Weak 3Y average ROE of 3.1%
✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y13.13%

5Y11.6%

3Y7.85%

TTM7.75%

Profit (Net Income) CAGR

10Y11.65%

5Y0.77%

3Y-29.36%

TTM217.18%

EPS CAGR

10Y4.88%

5Y-7.28%

3Y-35.28%

TTM230.26%

ROCE

10Y Avg2.6%

5Y Avg1.66%

3Y Avg1.41%

Latest1.18%

Peer Comparison

Data Center & Tech Infrastructure

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DLRDigital Realty Trust, Inc.	55.16B	160.57	99.73	1.42%	23.66%	5.6%	4.1%	0.78

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	1.76B	2.14B	2.46B	3.05B	3.21B	3.9B	4.43B	4.69B	5.48B	5.55B
Revenue Growth %	0.09%	0.21%	0.15%	0.24%	0.05%	0.22%	0.13%	0.06%	0.17%	0.01%
Property Operating Expenses	642.47M	762.67M	894.61M	1.1B	1.19B	1.51B	1.78B	2.02B	2.6B	2.52B
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	718.95M	882.25M	1.11B	1.4B	1.42B	1.83B	1.96B	2.08B	2.35B	2.56B
G&A Expenses	114.36M	162.22M	161.44M	163.67M	211.1M	351.37M	400.65M	422.17M	449.06M	480.02M
EBITDA+	972.44M	1.2B	1.29B	1.74B	1.76B	1.92B	2.18B	2.17B	2.22B	2.24B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	570.53M	699.32M	842.46M	1.19B	1.16B	1.37B	1.49B	1.58B	1.69B	1.77B
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	401.91M	497.29M	451.3M	549.79M	594.22M	557.53M	694.01M	589.97M	524.46M	471.86M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	0	0	0	0	0	0	0	0	0	452.84M
Interest Coverage	-	-	-	-	-	-	-	-	-	1.04x
Non-Operating Income	-109.95M	-186M	-71.52M	-114.94M	-370.06M	-176.27M	-1.42B	-121.04M	-939.17M	-624.06M
Pretax Income+	215.69M	442.24M	264.17M	343.2M	611.22M	400.78M	1.82B	411.88M	1.03B	643.09M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	6.45M	10.38M	7.9M	2.08M	11.99M	38.05M	72.8M	31.55M	75.58M	54.76M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	204.33M	426.19M	248.26M	331.25M	579.76M	356.4M	1.71B	377.68M	948.84M	602.49M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.02%	1.09%	-0.42%	0.33%	0.75%	-0.39%	3.8%	-0.78%	1.51%	-0.37%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	0.05%	0.45%	-0.03%	0.39%	0.15%	-0.01%	0.86%	-0.39%	0.35%	-0.1%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	1.56	2.20	0.99	1.21	2.35	1.00	5.94	1.11	3.00	1.61
EPS Growth %	0.56%	0.41%	-0.55%	0.22%	0.94%	-0.57%	4.94%	-0.81%	1.7%	-0.46%
EPS (Basic)	1.57	2.21	0.99	1.21	2.37	1.01	5.95	1.18	3.04	1.74
Diluted Shares Outstanding	138.87M	150.68M	174.9M	206.67M	209.46M	262.52M	283.22M	297.92M	309.06M	331.55M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	11.42B	12.19B	21.4B	23.77B	23.07B	36.08B	36.37B	41.48B	44.11B	45.28B
Asset Growth %	0.2%	0.07%	0.76%	0.11%	-0.03%	0.56%	0.01%	0.14%	0.06%	0.03%
Real Estate & Other Assets+	9.12B	9.51B	14.24B	15.55B	14.89B	21.38B	21.67B	24.73B	25.28B	25.23B
PP&E (Net)	0	0	0	0	628.68M	1.39B	1.41B	1.35B	1.41B	1.18B
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Current Assets+	432.6M	282.07M	429.07M	426.32M	625.25M	711.61M	814.42M	1.11B	3.38B	5.13B
Cash & Equivalents	57.05M	10.53M	51K	126.7M	89.82M	108.5M	142.7M	141.77M	1.63B	3.87B
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	198.15M	67.61M	152.67M	0	229.93M	0	-547.38M	-601.59M	-145.92M	-642.46M
Intangible Assets	1.42B	1.54B	3.18B	3.26B	2.27B	3.12B	2.74B	3.09B	2.5B	2.18B
Total Liabilities	6.88B	7.06B	10.3B	12.89B	12.42B	17.59B	17.85B	21.86B	23.12B	22.11B
Total Debt+	5.9B	5.84B	8.65B	11.1B	10.99B	14.77B	14.96B	18.07B	18.97B	18.01B
Net Debt	5.84B	5.83B	8.65B	10.97B	10.9B	14.66B	14.82B	17.93B	17.34B	14.14B
Long-Term Debt	4.94B	5.64B	8.1B	9.45B	9.89B	12.77B	13.05B	14.45B	15.61B	15.1B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	101.11M	385.74M	569.22M	213.84M	693.54M	1.47B	1.51B	1.47B	1.54B	1.29B
Total Current Liabilities+	1.7B	1.17B	1.74B	3.03B	1.3B	2.28B	2.62B	4.75B	4.81B	4.63B
Accounts Payable	608.34M	824.88M	980.22M	1.16B	831.07M	1.42B	1.54B	1.87B	2.17B	2.06B
Deferred Revenue	126.92M	144.19M	199.76M	209.31M	208.72M	371.66M	336.58M	369.65M	401.87M	539.8M
Other Liabilities	239.46M	250.01M	467.36M	409.42M	208.72M	371.66M	0	0	0	0
Total Equity+	4.54B	5.13B	11.1B	10.87B	10.65B	18.49B	18.52B	19.62B	21B	23.18B
Equity Growth %	0.16%	0.13%	1.16%	-0.02%	-0.02%	0.74%	0%	0.06%	0.07%	0.1%
Shareholders Equity	4.5B	5.1B	10.35B	9.86B	9.88B	17.72B	18B	17.58B	19.12B	21.34B
Minority Interest	36.37M	36.28M	754.27M	1.02B	770.25M	770.65M	519.21M	2.04B	1.88B	1.84B
Common Stock	1.46M	1.58M	2.04M	2.05M	2.07M	2.79M	2.82M	2.89M	3.09M	3.34M
Additional Paid-in Capital	4.66B	5.76B	11.26B	11.36B	11.58B	20.63B	21.08B	22.14B	24.4B	28.08B
Retained Earnings	-1.35B	-1.55B	-2.06B	-2.63B	-3.05B	-4B	-3.63B	-4.7B	0	0
Preferred Stock	1.29B	1.01B	1.25B	1.25B	1.43B	950.94M	731.69M	731.69M	731.69M	731.69M
Return on Assets (ROA)	0.02%	0.04%	0.01%	0.01%	0.02%	0.01%	0.05%	0.01%	0.02%	0.01%
Return on Equity (ROE)	0.05%	0.09%	0.03%	0.03%	0.05%	0.02%	0.09%	0.02%	0.05%	0.03%
Debt / Assets	0.52%	0.48%	0.4%	0.47%	0.48%	0.41%	0.41%	0.44%	0.43%	0.4%
Debt / Equity	1.30x	1.14x	0.78x	1.02x	1.03x	0.80x	0.81x	0.92x	0.90x	0.78x
Net Debt / EBITDA	6.01x	4.87x	6.68x	6.32x	6.20x	7.62x	6.80x	8.27x	7.81x	6.30x
Book Value per Share	32.67	34.06	63.49	52.61	50.84	70.43	65.40	65.86	67.93	69.90

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	799.23M	912.26M	1.02B	1.39B	1.51B	1.71B	1.7B	1.66B	1.63B	2.26B
Operating CF Growth %	0.22%	0.14%	0.12%	0.35%	0.09%	0.13%	-0%	-0.03%	-0.01%	0.38%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	301.59M	431.85M	256.27M	341.12M	599.22M	362.73M	1.75B	380.32M	950.31M	602.49M
Depreciation & Amortization	464.69M	518.72M	595M	770.27M	809.47M	1.37B	1.49B	1.58B	1.69B	1.77B
Stock-Based Compensation	6.36M	17.43M	20.52M	27.16M	34.91M	74.58M	84.08M	92.46M	80.53M	75.61M
Other Non-Cash Items	48.38M	155.58M	262.86M	458.23M	387.02M	31.89M	52.11M	-160.99M	-711.17M	-213.09M
Working Capital Changes	-1.6M	-43.89M	-107.73M	-130.51M	-30.5M	-8.42M	-309.83M	-230.34M	-379.75M	24.67M
Cash from Investing+	-2.53B	-1.3B	-1.36B	-3.04B	-274.99M	-2.6B	-1.06B	-4.7B	-1.12B	-1.91B
Acquisitions (Net)	-1.86B	-873.28M	63.04M	115.33M	1.3B	-23.24M	-189.35M	-2.23B	-146.77M	-508M
Purchase of Investments	-110.07M	0	-93.41M	-13.25M	-2.6M	-144.32M	827.03M	-296.1M	0	0
Sale of Investments	1000K	1000K	1000K	0	1000K	1000K	1000K	1000K	0	0
Other Investing	-665.16M	-426.15M	-1.48B	-3.14B	-1.56B	-323.13M	-872.37M	194.5M	-968.34M	-1.4B
Cash from Financing+	1.75B	351.93M	321.2M	1.76B	-1.27B	935.69M	-590.63M	2.97B	963.47M	2.06B
Dividends Paid	-548.06M	-605.39M	-715.21M	-930.78M	-996.77M	-1.24B	-1.38B	-1.45B	-1.52B	-1.63B
Common Dividends	-468.63M	-521.62M	-646.41M	-849.47M	-921.78M	-1.16B	-1.38B	-1.45B	-1.52B	-1.63B
Debt Issuance (Net)	1000K	1000K	1000K	1000K	-1000K	1000K	1000K	1000K	1000K	1000K
Share Repurchases	0	-287.5M	-182.5M	-3.86M	0	0	0	0	0	0
Other Financing	-26.97M	759.36M	-19.55M	25.4M	47.69M	84.87M	90.34M	96.39M	-57.49M	8.61M
Net Change in Cash+	22.24M	-46.52M	-8.86M	122.04M	-37.97M	26.4M	27.83M	-789K	1.49B	2.24B
Exchange Rate Effect	1000K	-1000K	1000K	1000K	-1000K	-1000K	-1000K	1000K	1000K	-1000K
Cash at Beginning	34.81M	57.05M	22.04M	13.18M	135.22M	97.25M	123.65M	151.49M	150.7M	1.64B
Cash at End	57.05M	10.53M	13.18M	135.22M	97.25M	123.65M	151.49M	150.7M	1.64B	3.88B
Free Cash Flow+	21.5M	137.94M	-178.17M	11.66M	10.84M	-472.14M	-818.54M	-983.71M	1.63B	2.26B
FCF Growth %	1.25%	5.42%	-2.29%	1.07%	-0.07%	-44.57%	-0.73%	-0.2%	2.66%	0.38%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	5.58	7.47	6.24	7.35	8.32	6.56	11.28	6.56	8.55	7.16
FFO Payout Ratio	60.48%	46.35%	59.26%	55.95%	52.87%	67.49%	43.16%	74.18%	57.52%	68.79%
NOI Margin	63.56%	64.4%	63.6%	63.96%	62.83%	61.21%	59.84%	57%	52.56%	54.65%
Net Debt / EBITDA	6.01x	4.87x	6.68x	6.32x	6.20x	7.62x	6.80x	8.27x	7.81x	6.30x
Debt / Assets	51.67%	47.89%	40.41%	46.71%	47.66%	40.95%	41.13%	43.55%	43%	39.77%
Interest Coverage	-	-	-	-	-	-	-	-	-	1.04x
Book Value / Share	32.67	34.06	63.49	52.61	50.84	70.43	65.4	65.86	67.93	69.9
Revenue Growth	9.01%	21.49%	14.74%	23.95%	5.34%	21.64%	13.43%	5.96%	16.74%	1.42%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Rental And Other Services	-	-	-	-	3.2B	3.89B	-	-	-	5.48B
Rental And Other Services Growth	-	-	-	-	-	21.59%	-	-	-	-
Fee Income And Other	-	-	-	-	12.88M	17.06M	-	-	-	72.5M
Fee Income And Other Growth	-	-	-	-	-	32.43%	-	-	-	-
Rental and other services	-	-	-	-	-	-	4.4B	4.66B	5.43B	-
Rental and other services Growth	-	-	-	-	-	-	-	6.09%	16.46%	-
Fee income and other	-	-	-	-	-	-	32.84M	29.15M	46.89M	-
Fee income and other Growth	-	-	-	-	-	-	-	-11.24%	60.85%	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	1.4B	1.7B	1.9B	2.48B	-	-	-	-	-	2.91B
UNITED STATES Growth	-	21.43%	11.76%	30.64%	-	-	-	-	-	-
Non-US	400M	400M	500M	564.4M	-	-	-	-	-	2.64B
Non-US Growth	-	0.00%	25.00%	12.88%	-	-	-	-	-	-
United States	-	-	-	-	-	-	2.8B	2.76B	2.84B	-
United States Growth	-	-	-	-	-	-	-	-1.41%	2.74%	-
Outside the United States	-	-	-	-	-	-	1.7B	1.93B	2.64B	-
Outside the United States Growth	-	-	-	-	-	-	-	13.61%	36.75%	-
U	-	-	-	-	2.6B	2.6B	-	-	-	-
U Growth	-	-	-	-	-	0.00%	-	-	-	-
Non Us	-	-	-	-	627.4M	1.3B	-	-	-	-
Non Us Growth	-	-	-	-	-	107.20%	-	-	-	-
G	-	-	-	-	288.2M	-	-	-	-	-
G Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Digital Realty Trust, Inc. (DLR) has a price-to-earnings (P/E) ratio of 99.7x. This suggests investors expect higher future growth.

Growth & Financials

Digital Realty Trust, Inc. (DLR) reported $5.91B in revenue for fiscal year 2024. This represents a 456% increase from $1.06B in 2011.

Digital Realty Trust, Inc. (DLR) grew revenue by 1.4% over the past year. Growth has been modest.

Yes, Digital Realty Trust, Inc. (DLR) is profitable, generating $1.40B in net income for fiscal year 2024 (10.8% net margin).

Dividend & Returns

Yes, Digital Realty Trust, Inc. (DLR) pays a dividend with a yield of 3.07%. This makes it attractive for income-focused investors.

Digital Realty Trust, Inc. (DLR) has a return on equity (ROE) of 2.7%. This is below average, suggesting room for improvement.

Industry Metrics

Digital Realty Trust, Inc. (DLR) generated Funds From Operations (FFO) of $3.26B in the trailing twelve months. FFO is the primary profitability metric for REITs.

Digital Realty Trust, Inc. (DLR) offers a 3.07% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

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