DIGITAL REALTY TRUST, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data DIGITAL REALTY TRUST, INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	2,142	2,458	3,046	3,209	3,904	4,428	4,692	5,477	5,555	6,113
General and administrative	153	161	164	211	351	401	422	449	480	565
Operating expenses		2,007	2,497	2,615	3,346	3,734	4,102	4,953	5,083	5,454
Operating income	497	451	550	594	558	694	590	524	472	658
Interest expense	236	259	322	353	333	294	299	438	453	438
Other non-operating income	-4.56	3.66	3.48	66	20.2	-4.36	8.92	68.4	154	161
Pre-tax income										1,345
Income tax	10.4	7.9	2.08	12	38	72.8	31.6	75.6	54.8	32
Net income to minority interests	5.67	8.01	9.87	19.5	6.33	38.2	2.64	1.47	-14.2	4.58
Net income	426	248	331	580	356	1,709	378	949	602	1,309
EBITDA	1,197	1,294	1,737	1,758	1,924	2,181	2,168	2,219	2,244	2,553
EPS, basic	2.21	0.99	1.21	2.37	1.01	5.95	1.18	3.04	1.74	3.73
EPS, diluted	2.20	0.99	1.21	2.35	1.00	5.94	1.11	2.88	1.61	3.58
Shares, basic (weighted)	150	174	206	208	0.26	282	286	299	323	340
Shares, diluted (weighted)	151	175	207	209	0.26	283	298	309	332	348

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	10.5	0.05	127	89.8	109	143	142	1,625	3,871	3,452
Lease right-of-use assets			0	629	1,387	1,405	1,351	1,414	1,179	1,136
Goodwill	753	3,390	4,348	3,363	8,331	7,937	9,208	9,240	8,929	9,712
Intangible assets									1,935	1,807
Total assets	12,193	21,404	23,767	23,068	36,076	36,370	41,485	44,113	45,284	49,410
Total liabilities	7,060	10,301	12,893	12,419	17,588	17,846	21,863	23,117	22,108	24,564
Paid-in capital	5,764	11,261	11,356	11,577	20,627	21,076	22,143	24,397	28,080	29,350
Retained earnings	-1,547	-2,056	-2,633	-3,047	-3,998	-3,632	-4,698	-5,263	-6,292	-6,691
Other comprehensive income	-136	-108	-116	-87.9	135	-174	-596	-751	-1,182	-469
Shareholders' equity	5,096	10,349	9,859	9,879	17,718	18,005	17,583	19,118	21,340	22,926
Minority interests	36.3	700	1,000	729	729	472	524	484	402	421
Total equity	5,132	11,049	10,858	10,608	18,446	18,477	18,107	19,602	21,743	23,347
Total liabilities and equity	12,193	21,404	23,767	23,068	36,076	36,370	41,485	44,113	45,284	49,410
Shares outstanding	159	205	206	209	280	284	291	312	0.34	344

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	432	256	341	599	363	1,747	380	950	588	1,313
Depreciation and amortization	699	842	1,187	1,164	1,366	1,487	1,578	1,695	1,772	1,895
Deferred income tax										-101
Change in payables	38.4	-16.4	39.2	72.7	84.4	62.5	42.1	-224	367	376
Cash from operations	911	1,023	1,385	1,514	1,707	1,702	1,659	1,635	2,261	2,412
Acquisitions	0	0	-2,091	-75.7	-1,030					-309
Sales and maturities of investments	0		0	0	70
Cash from investing	-1,304	-1,357	-3,036	-275	-2,599	-1,062	-4,699	-1,115	-1,906	-2,230
Debt issued	676	2,265	1,169	2,869	3,573	1,824	2,791	869	2,235	3,489
Debt repaid	0	-885	0	-1,915	-2,929	-991	-1,037	-112	-2,119	-2,514
Stock issued	1,085	405	5.87	5.46	6.5
Dividends paid	-522	-646	-849	-922	-1,163	-1,379	-1,451	-1,521	-1,633	-1,728
Cash from financing	351	321	1,757	-1,272	936	-591	2,969	963	2,063	-487
Exchange rate effect	-11.3	3.79	15.4	-4.77	-16.5	-22	70.1	2.63	-179	-113
Net change in cash	-41.7	-12.6	107	-33.2	42.9	49.9	-70.9	1,483	2,419	-305
Interest paid	217	212	289	313	302	275	272	393	438	381
Income taxes paid	3.7	9.46	11.2	14.6	20.1	29.9	41.7	88.8	71.2	113

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to March 31, 2026; growth uses fiscal years. Valuation uses the share price of $178.61 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	11.5%	Operating income / revenue.
EBITDA margin	42.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Net margin	21.7%	Net income / revenue.
Operating cash flow margin	40.1%	Cash from operations / revenue.
Return on equity (ROE)	5.9%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.8%	Net income / average total assets.
Return on invested capital (ROIC)	2.8%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
D&A / revenue	30.8%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	10.0%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	9.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	9.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	39.6%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	3.7%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	3.4%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	13.8%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	5.6%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	5.8%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	117.2%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	51.3%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	29.7%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	122.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	47.7%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	29.1%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	6.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	13.3%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	7.2%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	7.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	9.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	5.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	9.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	6.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	6.5%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	4.9%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	5.3%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	321.1%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	48.0%	Total liabilities / total assets.
Interest coverage	1.60x	Operating income / interest expense.
Goodwill and intangibles / assets	23.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	$12.05B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.13x	Revenue / average total assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.90	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$17.95	Revenue / diluted weighted shares.
Operating cash flow per share	$7.21	Cash from operations / diluted weighted shares.
Book value per share	$66.97	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$34.54	Tangible book value / shares outstanding.
Cash per share	$6.95	(Cash + short-term investments) / shares outstanding.
Payout ratio	127.1%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$66.09B	Share price x shares outstanding.
Enterprise value	$63.67B	Market cap + total debt - cash - short-term investments.
P/E	48.0x	Market cap / net income. Only when net income is positive.
P/S	10.4x	Market cap / revenue.
P/B	2.83x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	5.48x	Market cap / tangible book value, when positive.
P/OCF	26.0x	Market cap / cash from operations, when positive.
EV/Sales	10.0x	Enterprise value / revenue.
EV/EBIT	87.3x	Enterprise value / operating income, when both are positive.
EV/EBITDA	23.8x	Enterprise value / EBITDA, when both are positive.
Earnings yield	2.1%	Net income / market cap (the inverse of P/E).
Dividend yield	2.6%	Dividends paid over the period / market cap.
Shareholder yield	2.6%	(Dividends paid + share buybacks) / market cap.
PEG	1.00x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was DIGITAL REALTY TRUST, INC.'s revenue in fiscal 2025?

DIGITAL REALTY TRUST, INC. reported revenue of $6.11B for fiscal 2025, 10% higher than the year before.

Was DIGITAL REALTY TRUST, INC. profitable in fiscal 2025?

Yes. Net income was $1.31B, a net margin of 21.4%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to DIGITAL REALTY TRUST, INC.