GDS Holdings Limited (GDS) quarterly income statement — complete revenue, gross profit & net income history
GDS Holdings Limited (GDS) annual income statement — 12-year revenue, gross profit & net income history
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Sales/Revenue | 3.08B | 3.37B | 2.92B | 2.89B | 2.9B | 2.72B | 2.69B | 2.97B | 2.83B | 2.63B | 2.56B | 2.52B | 2.47B | 2.41B | 2.4B | 2.37B | 2.31B | 2.24B | 2.19B | 2.06B |
| Revenue Growth % | 6.17% | 23.65% | 8.59% | -2.65% | 2.62% | 3.65% | 5.25% | 17.73% | 14.33% | 9.07% | 6.34% | 6.4% | 6.99% | 7.37% | 9.9% | 14.85% | 23.95% | 31.51% | 34.06% | 35.2% |
| Cost of Goods Sold | 2.48B | 2.24B | 2.31B | 2.25B | 2.21B | 2.08B | 2.11B | 2.31B | 2.19B | 2.05B | 2.12B | 2.07B | 1.92B | 1.92B | 1.92B | 1.87B | 1.84B | 1.76B | 1.7B | 1.61B |
| COGS % of Revenue | 80.52% | 66.39% | 79.04% | 77.86% | 76.25% | 76.32% | 78.51% | 77.85% | 77.43% | 78.17% | 83.09% | 82.24% | 77.71% | 79.59% | 79.7% | 79.19% | 79.72% | 78.32% | 77.72% | 77.91% |
| Gross Profit | 599.91M | 1.13B | 612.43M | 639.24M | 688.93M | 644.83M | 578.12M | 656.92M | 637.83M | 573.67M | 432.32M | 447.45M | 551M | 491.69M | 488.03M | 492.81M | 468.6M | 486.42M | 487.27M | 455.44M |
| Gross Margin % | 19.48% | 33.61% | 20.96% | 22.14% | 23.75% | 23.68% | 21.49% | 22.15% | 22.57% | 21.83% | 16.91% | 17.76% | 22.29% | 20.41% | 20.3% | 20.81% | 20.28% | 21.68% | 22.28% | 22.09% |
| Gross Profit Growth % | -12.92% | 75.48% | 5.93% | -2.69% | 8.01% | 12.4% | 33.73% | 46.81% | 15.76% | 16.67% | -11.42% | -9.2% | 17.58% | 1.08% | 0.16% | 8.21% | 6.53% | 22.57% | 13.31% | 11.36% |
| Operating Expenses | 161.98M | 223.56M | 218.22M | 276.84M | 274.34M | 279.59M | 296.48M | 336.67M | 322.19M | 354.44M | 272.57M | 366.77M | 306.76M | 337.12M | 338.99M | 345.83M | 335.47M | 351.03M | 335.27M | 305.6M |
| OpEx % of Revenue | 5.26% | 6.64% | 7.47% | 9.59% | 9.46% | 10.27% | 11.02% | 11.35% | 11.4% | 13.49% | 10.66% | 14.56% | 12.41% | 13.99% | 14.1% | 14.61% | 14.52% | 15.65% | 15.33% | 14.82% |
| Selling, General & Admin | 217.98M | 214M | 241.43M | 268.59M | 265.51M | 271.7M | 289.62M | 328.04M | 311.3M | 344.46M | 344.29M | 356.24M | 301.72M | 327.34M | 329M | 339.14M | 326.1M | 341.27M | 322.85M | 296.57M |
| SG&A % of Revenue | 7.08% | 6.36% | 8.26% | 9.3% | 9.15% | 9.98% | 10.76% | 11.06% | 11.01% | 13.11% | 13.47% | 14.14% | 12.21% | 13.59% | 13.69% | 14.32% | 14.11% | 15.21% | 14.76% | 14.39% |
| Research & Development | 7.04M | 9.56M | 7.73M | 8.25M | 8.83M | 7.89M | 6.86M | 8.63M | 10.89M | 9.98M | 12.8M | 10.53M | 5.04M | 9.79M | 9.99M | 6.68M | 9.37M | 9.77M | 12.42M | 9.02M |
| R&D % of Revenue | 0.23% | 0.28% | 0.26% | 0.29% | 0.3% | 0.29% | 0.26% | 0.29% | 0.39% | 0.38% | 0.5% | 0.42% | 0.2% | 0.41% | 0.42% | 0.28% | 0.41% | 0.44% | 0.57% | 0.44% |
| Other Operating Expenses | -1000K | 0 | -1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 437.93M | 907.96M | 394.21M | 362.39M | 414.59M | 365.24M | 296.88M | 320.25M | 315.63M | 219.23M | -2.94B | 80.68M | 244.23M | 154.56M | 136.29M | 146.98M | 133.13M | 135.38M | 152.01M | 149.84M |
| Operating Margin % | 14.22% | 26.97% | 13.49% | 12.55% | 14.29% | 13.41% | 11.03% | 10.8% | 11.17% | 8.34% | -114.93% | 3.2% | 9.88% | 6.42% | 5.67% | 6.21% | 5.76% | 6.03% | 6.95% | 7.27% |
| Operating Income Growth % | 5.63% | 148.6% | 32.79% | 13.16% | 31.35% | 66.6% | 110.1% | 296.93% | 29.23% | 41.84% | -2255.83% | -45.11% | 83.46% | 14.17% | -10.34% | -1.91% | -9.38% | 12.1% | -1.89% | -5.96% |
| EBITDA | 1.29B | 1.74B | 1.39B | 1.22B | 1.27B | 1.22B | 1.01B | 1.23B | 1.19B | 1.08B | -1.91B | 966.82M | 1.12B | 997.92M | 1.06B | 942.31M | 924.67M | 917.14M | 891.18M | 847.73M |
| EBITDA Margin % | 41.85% | 51.67% | 47.5% | 42.37% | 43.83% | 44.87% | 37.46% | 41.53% | 42.1% | 40.95% | -74.86% | 38.38% | 45.24% | 41.43% | 44.03% | 39.8% | 40.02% | 40.88% | 40.74% | 41.12% |
| EBITDA Growth % | 1.38% | 42.4% | 37.71% | -0.67% | 6.84% | 13.55% | 152.66% | 27.38% | 6.39% | 7.82% | -280.79% | 2.6% | 20.94% | 8.81% | 18.78% | 11.16% | 20.63% | 34.68% | 40.71% | 38.93% |
| D&A (Non-Cash Add-back) | 850.88M | 831.82M | 993.66M | 860.93M | 856.62M | 856.52M | 710.95M | 911.27M | 874.17M | 856.74M | 1.02B | 886.14M | 874.11M | 843.36M | 922.29M | 795.33M | 791.55M | 781.76M | 739.18M | 697.89M |
| EBIT | 437.93M | 1B | -1.1B | 1.75B | 425.21M | 1.43B | 461.61M | 293.89M | 333.34M | 220.94M | -2.81B | 103.27M | 269.43M | 173.38M | 419.38M | 172.05M | 154.38M | 152.2M | 152.01M | 160.58M |
| Net Interest Income | -365.78M | -379.85M | -566.96M | -375.47M | -404.99M | -441.48M | -63.81M | -535.01M | -505.23M | -503.48M | -62.35M | -503.16M | -469.47M | -484.43M | -476.78M | -444.33M | -470.84M | -453.48M | -442.83M | -392.07M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 365.78M | 379.85M | 566.96M | 375.47M | 404.99M | 441.48M | 63.81M | 535.01M | 505.23M | 503.48M | 62.35M | 503.16M | 469.47M | 484.43M | 476.78M | 444.33M | 470.84M | 453.48M | 442.83M | 392.07M |
| Other Income/Expense | 610.26M | 1.85B | -833.69M | 548.11M | -420.31M | 598.54M | -420.9M | -561.37M | -487.53M | -501.77M | -451.01M | -480.57M | -444.28M | -465.61M | -236.15M | -419.26M | -449.59M | -436.67M | -402.56M | -381.33M |
| Pretax Income | 1.05B | 2.76B | -439.48M | 910.51M | -5.73M | 963.77M | -139.26M | -241.12M | -171.89M | -282.54M | -3.39B | -399.89M | -200.04M | -311.04M | -99.86M | -272.28M | -316.46M | -301.29M | -250.55M | -231.5M |
| Pretax Margin % | 34.04% | 81.99% | -15.04% | 31.54% | -0.2% | 35.39% | -5.18% | -8.13% | -6.08% | -10.75% | -132.57% | -15.87% | -8.09% | -12.91% | -4.15% | -11.5% | -13.7% | -13.43% | -11.45% | -11.23% |
| Income Tax | 212.93M | 108.71M | 23.28M | 181.88M | 64.86M | 199.7M | 34.14M | -10.01M | 59.88M | 62.39M | -224.55M | 20.95M | 25.26M | 163.57M | 78.04M | 67.38M | 58.84M | 71.97M | 62.33M | 69.64M |
| Effective Tax Rate % | 20.31% | 3.94% | -5.3% | 19.98% | -1132.69% | 20.72% | -24.52% | 4.15% | -34.83% | -22.08% | 6.63% | -5.24% | -12.63% | -52.59% | -78.15% | -24.75% | -18.59% | -23.89% | -24.88% | -30.08% |
| Net Income | 832.86M | 2.65B | -467.05M | 725.98M | -72.3M | 763.02M | 4.19B | -192.34M | -225.74M | -345.83M | -3.17B | -421.18M | -226.58M | -474.61M | -177.9M | -339.66M | -375.31M | -373.25M | -315.89M | -325.1M |
| Net Margin % | 27.05% | 78.66% | -15.99% | 25.15% | -2.49% | 28.02% | 155.7% | -6.49% | -7.99% | -13.16% | -123.84% | -16.72% | -9.17% | -19.7% | -7.4% | -14.35% | -16.24% | -16.64% | -14.44% | -15.77% |
| Net Income Growth % | 1251.95% | 247.13% | -111.15% | 477.44% | 67.97% | 320.64% | 232.32% | 54.33% | 0.37% | 27.13% | -1679.68% | -24% | 39.63% | -27.16% | 43.68% | -4.48% | -26.65% | -34.87% | -17.02% | -59.84% |
| Net Income (Continuing) | 835.26M | 2.65B | -462.76M | 728.63M | -70.58M | 764.07M | -173.41M | -231.11M | -231.77M | -344.93M | -3.16B | -420.83M | -225.31M | -474.61M | -177.9M | -339.66M | -375.31M | -373.25M | -312.88M | -301.13M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 903.15M | 897.23M | 897.96M | 116.56M | 113.89M | 130.91M | 129.93M | 5.12B | 3.43B | 165.67M | 165.58M | 129.94M | 129.93M | 118.09M | 116.59M | 102.63M | 59.75M | 59.26M | 59.17M | 33.33M |
| EPS (Diluted) | 3.04 | 10.24 | -2.48 | 2.88 | -0.38 | 3.44 | 20.40 | -1.12 | -1.28 | -1.92 | -17.28 | -2.37 | -1.31 | -2.67 | -1.06 | -1.93 | -2.12 | -2.08 | -1.92 | -1.85 |
| EPS Growth % | 900% | 197.67% | -112.16% | 357.14% | 70.31% | 279.17% | 218.06% | 52.74% | 2.29% | 28.09% | -1530.19% | -22.8% | 38.21% | -28.37% | 44.79% | -4.32% | -18.44% | -25.3% | -12.94% | -30.28% |
| EPS (Basic) | 4.16 | 13.44 | -2.48 | 3.68 | -0.46 | 3.92 | 22.64 | -1.20 | -1.36 | -2.00 | -17.36 | -2.37 | -1.31 | -2.67 | -1.06 | -1.93 | -2.12 | -2.08 | -1.92 | -1.85 |
| Diluted Shares Outstanding | 259.47M | 253.96M | 194.29M | 248.03M | 224.71M | 224.71M | 204.61M | 183.75M | 183.75M | 183.75M | 183.75M | 183.54M | 183.4M | 183.4M | 183.4M | 183.32M | 182.88M | 182.61M | 182.48M | 182.03M |
| Basic Shares Outstanding | 194.38M | 194.29M | 194.29M | 226.87M | 185.53M | 185.53M | 184.53M | 173.4M | 173.4M | 176.87M | 182.96M | 177.74M | 173.23M | 178.57M | 170.51M | 176.51M | 176.98M | 182.61M | 176.09M | 175.34M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |