Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
DLR (Digital Realty Trust) delivered strong FY2025 results with revenue growing 10.0% to $6.11B and net income surging 122.4% to $1.31B, driven by robust data center demand and improved operating leverage.
Revenue
$6.11B
+10.04% YoY
EPS (Diluted)
$3.58
+122.36% YoY
Operating Income
$658.49M
+39.55% YoY
Source: SEC XBRL
Digital Realty Trust (DLR) reported FY2025 revenue of $6.11B, up 10.0% year over year. Operating margin was 10.8%, up 2.3 points from 8.5% a year earlier. Operating cash flow was $2.41B, up 6.7% year over year.
Last 4 quarters: 2 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 0.71 | 0.50 | Beat +41.4% |
| Mar 2026 | 0.47 | 0.47 | Beat +0.0% |
| Dec 2025This filing | 0.24 | 0.32 | Miss -25.0% |
| Sep 2025 | 0.15 | 0.33 | Miss -55.1% |
Reported EPS of $0.24 versus the $0.32 analyst consensus — a -25.0% miss for Dec 2025.
Compiled by AI from this SEC filing
Total revenue increased 10.0% year-over-year from $5.55B to $6.11B in FY2025, reflecting sustained strong demand for data center colocation and interconnection services as enterprises and hyperscalers continue to expand digital infrastructure.
Source: 10-K Income Statement, Financial Data
Operating income grew 39.6% from $471.9M to $658.5M, with operating margin expanding approximately 230 basis points to 10.8%, indicating meaningful improvement in operational efficiency and cost management relative to revenue growth.
Source: 10-K Income Statement, Financial Data
Net income surged 122.4% from $588.3M to $1.31B, with net margin reaching 21.4%, likely benefiting from non-operating gains, asset dispositions, or favorable tax items in addition to core operating improvements.
Source: 10-K Income Statement, Financial Data
Operating cash flow grew 6.7% to $2.41B, demonstrating the company's ability to consistently convert revenue into cash, which supports ongoing dividend payments of $1.73B and continued capital investment in data center assets.
Source: 10-K Cash Flow Statement, Financial Data
Total assets grew 9.1% to $49.4B, while total liabilities increased 11.1% to $24.6B, reflecting ongoing capital deployment into new data center development; stockholders' equity rose 7.4% to $22.9B, maintaining a solid equity base.
Source: 10-K Balance Sheet, Financial Data
Compiled by AI from this SEC filing · 2 high, 2 medium, 1 low
DLR's investing cash outflows increased 17.0% to -$2.23B in FY2025, reflecting heavy ongoing capital investment in data center construction and expansion. With a debt-to-equity ratio of 1.07 and total liabilities of $24.6B, the company carries significant financial leverage that could pressure returns if interest rates remain elevated or occupancy rates decline.
Source: 10-K Cash Flow & Balance Sheet, Financial Data
DLR paid $1.73B in dividends in FY2025, representing approximately 71.7% of operating cash flow of $2.41B. As a REIT, the company is required to distribute a significant portion of taxable income, which limits retained cash for reinvestment and increases reliance on external financing to fund growth.
Source: 10-K Cash Flow Statement, Financial Data
Cash and equivalents fell 10.8% from $3.87B to $3.45B, while financing cash flow swung sharply from +$2.06B to -$487M, a $2.55B reversal. This suggests reduced capital raising activity and increased debt repayment, which could constrain liquidity if capital markets tighten.
Source: 10-K Balance Sheet & Cash Flow Statement, Financial Data
As a specialized REIT focused exclusively on data centers, DLR is highly exposed to technology sector cyclicality, hyperscaler customer concentration, and rapid technological change (e.g., AI-driven infrastructure shifts). Any slowdown in enterprise IT spending or hyperscaler capex could disproportionately impact occupancy and rental rates.
Source: 10-K Financial Data, Business Context
Despite the 122.4% jump in net income, ROE stands at only 5.7% and ROA at 2.6%, reflecting the capital-intensive nature of the data center REIT business model. These returns may be insufficient to attract growth-oriented investors and highlight the challenge of generating high returns on a large, asset-heavy balance sheet.
Source: 10-K Key Ratios, Financial Data
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 6.11 $B | 5.55 $B | +10.04% |
Operating Income $M | 658.49 $M | 471.86 $M | +39.55% |
Net Income $B | 1.31 $B | 0.59 $B | +122.43% |
EPS (Basic) $ | 3.73 $ | 1.74 $ | +114.37% |
EPS (Diluted) $ | 3.58 $ | 1.61 $ | +122.36% |
Answers draw on this SEC filing and the data on this page
Digital Realty Trust reported 2026-Q2 total operating revenues of $1.92B, up 28.9% year-over-year, supported by strong non-stabilized portfolio growth, $201M in promote income, and aggressive expansion via land and joint venture acquisitions.
DLR (Digital Realty) delivered strong Q1 FY2026 results with revenue up 16.2% YoY to $1.64B and net income surging 63.0% YoY to $179.3M, reflecting robust demand for data center capacity.
Other companies in Data Center REITs