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) 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.
Revenue
$1.64B
+16.16% YoY
EPS (Diluted)
$0.46
+70.37% YoY
Operating Income
$267.81M
+36.04% YoY
Source: SEC XBRL
Digital Realty Trust (DLR) reported Q1 FY2026 revenue of $1.64B, up 16.2% year over year. Operating margin was 16.4%, up 2.4 points from 14.0% a year earlier. Operating cash flow was $532.42M, up 33.4% year over year. DLR's fiscal Q1 FY2026 corresponds to calendar Q1 2026.
Last 4 quarters: 2 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 0.71 | 0.50 | Beat +41.4% |
| Mar 2026This filing | 0.47 | 0.47 | Beat +0.0% |
| Dec 2025 | 0.24 | 0.32 | Miss -25.0% |
| Sep 2025 | 0.15 | 0.33 | Miss -55.1% |
Adjusted (non-GAAP) EPS of $0.47 versus the $0.47 analyst consensus — a +0.0% beat for Mar 2026. Analyst consensus is quoted on the adjusted (non-GAAP) basis the street uses. GAAP diluted EPS for this quarter was $0.46.
Compiled by AI from this SEC filing
Revenue grew 16.2% YoY from $1.41B to $1.64B in Q1 FY2026, reflecting continued strong demand for colocation and interconnection services as hyperscalers and enterprises expand their digital infrastructure footprints.
Source: 10-Q Income Statement (XBRL Financial Data)
Operating income rose 36.0% YoY to $267.8M, with operating margin expanding approximately 240 basis points to 16.4%, suggesting that revenue growth is outpacing cost increases and driving meaningful operating leverage.
Source: 10-Q Income Statement & Key Ratios (XBRL Financial Data)
Net income jumped 63.0% YoY to $179.3M, while diluted EPS increased 70.4% YoY to $0.46, indicating that bottom-line profitability is growing substantially faster than top-line revenue.
Source: 10-Q Income Statement (XBRL Financial Data)
Operating cash flow increased 33.4% YoY to $532.4M, providing a stronger internal funding base, though investing outflows widened to -$1.33B (vs. -$903.2M prior year), reflecting continued capital expenditure on data center development and expansion.
Source: 10-Q Cash Flow Statement (XBRL Financial Data)
Total assets expanded 8.4% YoY to $48.9B, with stockholders' equity rising 9.7% YoY to $23.4B and a debt-to-equity ratio of approximately 1.0x, indicating a relatively balanced capital structure for a capital-intensive REIT.
Source: 10-Q Balance Sheet (XBRL Financial Data)
Compiled by AI from this SEC filing · 2 high, 2 medium, 1 low
Investing cash outflows reached -$1.33B in Q1 FY2026, up 47.6% YoY, reflecting the capital-intensive nature of data center development. Sustained high capex could pressure free cash flow and may require additional debt or equity financing if operating cash flows do not keep pace.
Source: 10-Q Cash Flow Statement (XBRL Financial Data)
DLR paid $871.4M in dividends in Q1 FY2026, which significantly exceeds operating cash flow of $532.4M for the same period, implying the dividend is partially funded by financing activities. As a REIT, maintaining dividend payments is critical, but this gap warrants monitoring.
Source: 10-Q Cash Flow Statement (XBRL Financial Data)
With a debt-to-equity ratio of approximately 1.0x and total liabilities of $23.5B, DLR carries substantial debt typical of large REITs. Rising or sustained high interest rates could increase refinancing costs and compress net income margins over time.
Source: 10-Q Balance Sheet & Key Ratios (XBRL Financial Data)
DLR's business is concentrated in data center assets, making it sensitive to shifts in cloud adoption trends, hyperscaler capital spending cycles, and technological changes such as AI-driven infrastructure requirements that could alter demand patterns.
Source: 10-Q Income Statement (XBRL Financial Data)
Despite improvement, operating margin stands at 16.4%, which leaves limited buffer against unexpected cost increases such as energy price spikes, construction cost inflation, or higher personnel expenses associated with expanding operations globally.
Source: 10-Q Key Ratios (XBRL Financial Data)
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 1.64 $B | 1.41 $B | +16.16% |
Operating Income $M | 267.81 $M | 196.86 $M | +36.04% |
Net Income $M | 179.27 $M | 109.97 $M | +63.01% |
EPS (Basic) $ | 0.49 $ | 0.30 $ | +63.33% |
EPS (Diluted) $ | 0.46 $ | 0.27 $ | +70.37% |
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 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.
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