NYSE : DLR
Digital Realty Trust, Inc. — Financial statements
Real Estate · REIT - Specialty · United States
Last price 182.91 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 69.08B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Rental Revenue | 6.69B | 5.97B | 5.48B | 5.43B | 4.66B | 4.40B |
| Property Management Fees | 405.73M | 143.77M | 72.50M | 46.89M | 29.15M | 32.84M |
| Other Revenue | -15.57M | -31.99M | -120.14M | -29.79M | -13.50M | 62.28M |
| Total Revenue | 7.08B | 6.08B | 5.43B | 5.45B | 4.68B | 4.49B |
| Property Expenses | 3.04B | 2.73B | 2.52B | 2.60B | 2.02B | 1.78B |
| Selling, General & Administrative | 726.07M | 641.58M | 554.32M | 525.86M | 501.37M | 484.05M |
| Depreciation & Amortization | 1.96B | 1.82B | 1.70B | 1.62B | 1.50B | 1.40B |
| Other Operating Expenses | 13.81M | 3.70M | 27.08M | 7.53M | 12.44M | 2.55M |
| Total Operating Expenses | 5.75B | 5.19B | 4.80B | 4.75B | 4.03B | 3.67B |
| Operating Income | 1.33B | 890.15M | 636.81M | 697.75M | 648.24M | 822.01M |
| Interest Expense | -440.12M | -437.95M | -452.84M | -437.74M | -299.13M | -293.85M |
| Other Non-Operating Income | 238.02M | 161.05M | 154.24M | 68.43M | 8.92M | -4.36M |
| EBT Excluding Unusual Items | 1.13B | 613.25M | 338.22M | 328.44M | 358.02M | 523.80M |
| Merger & Restructuring Charges | -139.43M | -185.09M | -93.90M | -84.72M | -68.77M | -47.43M |
| Gain (Loss) on Sale of Assets | 60.13M | 995.59M | 595.83M | 900.53M | 176.75M | 1.38B |
| Asset Writedown | -78.55M | -78.55M | -191.18M | -118.36M | -3.00M | -18.29M |
| Other Unusual Items | -4.11M | 9.00K | -5.87M | -51.13M | -18.67M | |
| Pretax Income | 970.89M | 1.35B | 643.09M | 1.03B | 411.88M | 1.82B |
| Income Tax Expense | 48.76M | 32.04M | 54.76M | 75.58M | 31.55M | 72.80M |
| Earnings From Continuing Operations | 922.13M | 1.31B | 588.33M | 950.31M | 380.32M | 1.75B |
| Minority Interest in Earnings | 4.42M | -4.58M | 14.16M | -1.47M | -2.64M | -38.15M |
| Net Income | 926.56M | 1.31B | 602.49M | 948.84M | 377.68M | 1.71B |
| Preferred Dividends & Other Adjustments | 40.72M | 40.72M | 40.72M | 40.72M | 40.72M | 27.76M |
| Net Income to Common | 885.83M | 1.27B | 561.77M | 908.11M | 336.96M | 1.68B |
| Basic Shares Outstanding | 353.79M | 339.81M | 323.34M | 298.60M | 286.33M | 282.48M |
| Diluted Shares Outstanding | 361.51M | 347.81M | 331.55M | 309.06M | 297.92M | 283.22M |
| EPS (Basic) | 2.50 | 3.73 | 1.74 | 3.04 | 1.18 | 5.95 |
| EPS (Diluted) | 2.39 | 3.58 | 1.61 | 2.88 | 1.11 | 5.94 |
| Dividend Per Share | 4.88 | 4.88 | 4.88 | 4.88 | 4.88 | 4.64 |
| Operating Margin | 18.85% | 14.64% | 11.72% | 12.81% | 13.86% | 18.31% |
| Profit Margin | 12.51% | 20.85% | 10.34% | 16.67% | 7.20% | 37.45% |
| EBITDA | 3.37B | 2.78B | 2.40B | 2.39B | 2.22B | 2.31B |
| EBITDA Margin | 47.56% | 45.71% | 44.22% | 43.80% | 47.52% | 51.50% |
| D&A For Ebitda | 2.03B | 1.89B | 1.77B | 1.69B | 1.58B | 1.49B |
| EBIT | 1.33B | 890.15M | 636.81M | 697.75M | 648.24M | 822.01M |
| EBIT Margin | 18.85% | 14.64% | 11.72% | 12.81% | 13.86% | 18.31% |
| Funds From Operations (FFO) | 3.08B | 2.40B | 2.03B | 1.92B | 1.82B | 1.84B |
| FFO Per Share | 1.92 | 6.94 | 6.14 | 6.20 | 6.03 | 6.36 |
| Adjusted Funds From Operations (AFFO) | 2.72B | 2.27B | 2.02B | 1.78B | 1.82B | 1.84B |
| AFFO Per Share | 7.54 | 6.55 | 6.11 | 5.66 | 5.99 | 6.36 |
| Effective Tax Rate | 5.02% | 2.38% | 8.52% | 7.37% | 7.66% | 4.00% |
| Revenue as Reported | 7.10B | 6.11B | 5.55B | 5.48B | 4.69B | 4.43B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Property, Plant & Equipment | 34.95B | 27.48B | 25.26B | 25.53B | 25.01B | 22.03B |
| Total Real Estate Assets | 35.72B | 27.57B | 25.30B | 25.65B | 25.13B | 22.17B |
| Cash & Equivalents | 802.90M | 3.45B | 3.87B | 1.63B | 141.77M | 142.70M |
| Accounts Receivable | 2.36B | 1.81B | 1.55B | 1.58B | 1.35B | 1.22B |
| Other Receivables | 278.16M | 312.38M | 362.80M | 326.36M | 220.27M | |
| Goodwill | 10.05B | 9.71B | 8.93B | 9.24B | 9.21B | 7.94B |
| Other Intangible Assets | 2.39B | 1.84B | 1.97B | 2.28B | 2.85B | 2.51B |
| Restricted Cash | 3.45M | 6.64M | 5.81M | 10.97M | 8.92M | 8.79M |
| Other Current Assets | 349.83M | 478.50M | ||||
| Trading Asset Securities | 34.19M | 35.96M | 39.01M | 8.54M | 17.12M | |
| Deferred Long-Term Charges | 323.74M | 296.84M | 207.89M | 220.53M | 257.03M | 249.32M |
| Other Long-Term Assets | 4.55B | 4.02B | 3.05B | 2.69B | 2.31B | 2.14B |
| Total Assets | 56.52B | 49.41B | 45.28B | 44.11B | 41.48B | 36.37B |
| Current Portion of Long-Term Debt | 1.77B | 1.20B | 1.26B | 1.14B | 216.99M | |
| Current Portion of Leases | 242.75M | |||||
| Long-Term Debt | 17.93B | 17.50B | 15.54B | 16.45B | 16.49B | 13.45B |
| Long-Term Leases | 1.19B | 1.35B | 1.29B | 1.54B | 1.47B | 1.51B |
| Accounts Payable | 3.41B | 1.97B | 1.97B | 2.01B | 1.76B | 1.54B |
| Other Current Liabilities | 886.25M | 1.18B | 958.46M | 828.86M | 733.37M | 675.31M |
| Long-Term Deferred Tax Liabilities | 1.10B | 1.12B | 1.08B | 1.15B | 1.19B | 666.45M |
| Total Liabilities | 26.28B | 24.56B | 22.11B | 23.12B | 21.86B | 17.85B |
| Preferred Stock, Convertible | 731.69M | 731.69M | 731.69M | 731.69M | 731.69M | 731.69M |
| Common Stock | 3.72M | 3.41M | 3.34M | 3.09M | 2.89M | 2.82M |
| Additional Paid-In Capital | 35.08B | 29.35B | 28.08B | 24.40B | 22.14B | 21.08B |
| Distributions in Excess of Earnings | -7.21B | -6.69B | -6.29B | -5.26B | -4.70B | -3.63B |
| Comprehensive Income & Other | -488.41M | -469.20M | -1.18B | -751.39M | -595.80M | -173.88M |
| Total Common Equity | 27.38B | 22.19B | 20.61B | 18.39B | 16.85B | 17.27B |
| Minority Interest | 2.13B | 1.92B | 1.84B | 1.88B | 2.04B | 519.21M |
| Shareholders' Equity | 30.24B | 24.85B | 23.18B | 21.00B | 19.62B | 18.52B |
| Total Liabilities & Equity | 56.52B | 49.41B | 45.28B | 44.11B | 41.48B | 36.37B |
| Total Debt | 20.89B | 20.29B | 18.10B | 19.12B | 18.18B | 14.96B |
| Net Cash (Debt) | -20.05B | -16.80B | -14.19B | -17.49B | -18.02B | -14.82B |
| Net Cash Per Share | -55.47 | -48.30 | -42.79 | -56.59 | -60.48 | -52.32 |
| Filing Date Shares Outstanding | 378.33M | 343.62M | 336.64M | 312.29M | 291.16M | 284.47M |
| Total Common Shares Outstanding | 374.89M | 343.56M | 336.64M | 311.61M | 291.15M | 284.42M |
| Book Value Per Share | 73.04 | 64.60 | 61.22 | 59.00 | 57.88 | 60.73 |
| Tangible Book Value | 14.94B | 10.64B | 9.71B | 6.86B | 4.80B | 6.83B |
| Tangible Book Value Per Share | 39.85 | 30.98 | 28.83 | 22.03 | 16.48 | 24.01 |
| Land | 1.34B | 1.25B | 1.11B | 1.09B | 1.06B | 1.02B |
| Buildings | 32.06B | 29.15B | 25.57B | 25.39B | 24.29B | 21.91B |
| Construction In Progress | 10.63B | 4.98B | 5.16B | 4.64B | 4.54B | 3.00B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 926.56M | 1.31B | 602.49M | 948.84M | 377.68M | 1.71B |
| Depreciation & Amortization | 2.03B | 1.89B | 1.77B | 1.69B | 1.58B | 1.49B |
| Other Amortization | 33.73M | 32.18M | 28.67M | 26.83M | 18.85M | 18.69M |
| Gain (Loss) on Sale of Assets | -60.13M | -995.59M | -595.83M | -900.53M | -176.75M | -1.38B |
| Asset Writedown | 78.55M | 78.55M | 191.18M | 118.36M | ||
| Stock-Based Compensation | 107.04M | 93.77M | 75.61M | 80.53M | 92.46M | 84.08M |
| Income (Loss) on Equity Investments | 147.93M | 154.39M | 198.41M | 103.31M | 55.87M | 3.95M |
| Change in Accounts Receivable | -787.33M | -339.09M | -342.06M | -155.32M | -272.45M | -389.12M |
| Change in Accounts Payable | 472.20M | 376.35M | 366.73M | -224.43M | 42.11M | 62.45M |
| Other Operating Activities | -254.97M | -186.45M | -30.32M | -51.17M | -53.42M | 103.47M |
| Operating Cash Flow | 2.70B | 2.41B | 2.26B | 1.63B | 1.66B | 1.70B |
| Acquisition of Real Estate Assets | -4.17B | -3.18B | -2.83B | -3.53B | -2.64B | -2.52B |
| Sale of Real Estate Assets | 640.15M | 1.62B | 1.76B | 2.62B | 271.57M | 1.69B |
| Net Sale / Acq. of Real Estate Assets | -3.53B | -1.56B | -1.07B | -905.82M | -2.37B | -829.70M |
| Cash Acquisition | -2.98B | -321.25M | -508.00M | -52.30M | -1.93B | -192.01M |
| Investment in Marketable & Equity Securities | -885.75M | -365.68M | -215.76M | -94.47M | -296.10M | 2.67M |
| Other Investing Activities | 30.13M | 18.01M | -115.49M | -62.52M | -101.60M | -42.67M |
| Investing Cash Flow | -7.36B | -2.23B | -1.91B | -1.12B | -4.70B | -1.06B |
| Long-Term Debt Issued | 5.29B | 3.87B | 3.74B | 8.30B | 4.35B | |
| Long-Term Debt Repaid | -5.10B | -3.83B | -3.41B | -4.86B | -3.60B | |
| Net Debt Issued (Repaid) | 894.99M | 190.58M | 37.30M | 334.35M | 3.44B | 743.87M |
| Issuance of Common Stock | 3.03B | 1.11B | 3.65B | 2.21B | 928.43M | 172.10M |
| Preferred Share Repurchases | -201.25M | |||||
| Common & Preferred Dividends Paid | -1.81B | -1.73B | -1.63B | -1.52B | -1.45B | -1.38B |
| Total Dividends Paid | -1.81B | -1.73B | -1.63B | -1.52B | -1.45B | -1.38B |
| Other Financing Activities | -17.09M | -54.88M | 8.61M | -57.49M | 46.72M | 73.86M |
| Foreign Exchange Rate Adjustments | 69.58M | -113.34M | -178.52M | 2.63M | 70.08M | -22.04M |
| Net Cash Flow | -2.50B | -418.41M | 2.24B | 1.49B | -789.00K | 27.83M |
| Levered Free Cash Flow | 3.93B | 1.96B | 2.55B | 1.49B | 1.83B | 1.95B |
| Unlevered Free Cash Flow | 4.17B | 2.20B | 2.80B | 1.74B | 2.00B | 2.11B |
| Cash Interest Paid | 375.10M | 380.50M | 438.20M | 393.40M | 271.50M | 274.70M |
| Cash Income Tax Paid | 99.63M | 113.03M | 41.70M | 29.90M | ||
| Change in Working Capital | -315.12M | 37.26M | 24.67M | -379.75M | -230.34M | -326.66M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 67.46B | 53.14B | 58.82B | 40.76B | 28.83B | 50.19B |
| Enterprise Value | 87.52B | 72.32B | 77.80B | 60.60B | 48.43B | 66.97B |
| Last Close Price | 180.70 | 151.61 | 168.58 | 124.05 | 88.64 | 150.24 |
| Price/FFO Ratio | 91.31 | 21.85 | 27.45 | 20.01 | 14.70 | 23.62 |
| Price/AFFO Ratio | 23.30 | 23.15 | 27.59 | 21.93 | 14.80 | 23.63 |
| PE Ratio | 73.33 | 41.91 | 104.71 | 44.88 | 85.56 | 29.85 |
| PS Ratio | 9.82 | 8.74 | 10.82 | 7.48 | 6.16 | 11.18 |
| PB Ratio | 2.47 | 2.14 | 2.54 | 1.94 | 1.47 | 2.71 |
| P/OCF Ratio | 25.80 | 22.03 | 26.01 | 24.93 | 17.37 | 29.49 |
| EV/Sales Ratio | 12.66 | 11.89 | 14.31 | 11.12 | 10.35 | 14.92 |
| EV/EBITDA Ratio | 26.61 | 26.02 | 32.37 | 25.40 | 21.78 | 28.96 |
| EV/EBIT Ratio | 67.13 | 81.25 | 122.17 | 86.85 | 74.71 | 81.47 |
| Debt / Equity Ratio | 0.69 | 0.82 | 0.78 | 0.91 | 0.93 | 0.81 |
| Debt / EBITDA Ratio | 5.79 | 6.73 | 6.88 | 7.31 | 7.43 | 5.89 |
| Net Debt / Equity Ratio | 0.66 | 0.68 | 0.61 | 0.83 | 0.92 | 0.80 |
| Net Debt / EBITDA Ratio | 5.96 | 6.04 | 5.90 | 7.33 | 8.10 | 6.41 |
| Asset Turnover | 0.14 | 0.13 | 0.12 | 0.13 | 0.12 | 0.12 |
| Quick Ratio | 0.57 | 1.22 | 1.39 | 0.89 | 0.64 | 0.61 |
| Current Ratio | 0.57 | 1.30 | 1.39 | 1.01 | 0.64 | 0.62 |
| Return on Equity (ROE) | 3.34% | 5.47% | 2.66% | 4.68% | 1.99% | 9.44% |
| Return on Assets (ROA) | 1.58% | 1.18% | 0.89% | 1.02% | 1.04% | 1.42% |
| Return on Invested Capital (ROIC) | 2.52% | 2.01% | 1.43% | 1.66% | 1.68% | 2.36% |
| Earnings Yield | 1.36% | 2.46% | 1.02% | 2.33% | 1.31% | 3.40% |
| Dividend Yield | 2.79% | 3.16% | 2.79% | 3.73% | 4.93% | 2.63% |
| Payout Ratio | 204.20% | 132.09% | 271.08% | 160.26% | 384.09% | 80.69% |
| Buyback Yield / Dilution | -4.78% | -4.91% | -7.27% | -3.74% | -5.19% | -7.89% |
| Total Shareholder Return | -2.07% | -1.75% | -4.48% | -0.01% | -0.26% | -5.26% |