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Digital Realty Trust
DLRReal EstateGenerated Jul 5, 2026, 08:09 PM UTC
DLR (Digital Realty Trust) analytical snapshot. Revenue grew +16.7% YoY to $5.48B. 5-year revenue CAGR +11.3%; 10y CAGR +14.5%. Net margin at 17.32% (expanding ▲). Market cap $60.90B at $173.30 per share. Trailing P/E 60.17, P/S 11.12, P/B 2.61. EV/Operating income ≈ 117.73 (EV $61.74B). Risk: Moderate. Macro: Risk-on · Supportive. Composite analytical score -6 (data confidence 74%). Descriptive analytics from public filings — not investment advice.
Market cap
$60.90B
351.41M shares
Price
$173.30
NYQ
P/E (ttm)
60.17
Revenue (FY)
$5.48B
YoY +16.7%
Net margin
17.32%
▲ 8.19pp
Free cash flow
—
Risk level
Moderate
Free SEC analysis
— computed from SEC filings, free to readFree previewFundamentals Analyst
Fundamentals
Fundamentals Analyst
score 55Improving
60% conf
Revenue grew +16.7% YoY to $5.48B. 5-year revenue CAGR +11.3%; 10y CAGR +14.5%. Net margin at 17.32% (expanding ▲).
- Revenue grew +16.7% YoY to $5.48B.
- 5-year revenue CAGR +11.3%; 10y CAGR +14.5%.
- Net margin at 17.32% (expanding ▲).
- Return on equity 4.45%, ROA 2.10%, ROIC 2.46%.
- Gross margin 0.00%, operating margin 9.58%.
- Net income up ▲ +151.2% YoY.
- Debt/equity 0.14, current ratio —, net debt $845.2M.
- Asset turnover 0.11 — capital efficiency.
Revenue (FY)
$5.48B
YoY +16.7%
Net margin
17.32%
▲ 8.19pp
ROE
4.45%
ROA 2.10%
ROIC
2.46%
EPS (diluted)
$2.88
FY2025
Free cash flow
—
Debt / equity
0.14
Cash $2.43B
Current ratio
—
Equity $23.37B
Annual fundamentals — up to 10 years (SEC 10-K, US-GAAP)
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2016 | $1.62B | — | 0.00 | 16.00 | 12.38 | — | 4.45 |
| 2017 | $1.76B | +9.1% | 0.00 | 22.79 | 16.83 | — | 5.82 |
| 2018 | $2.14B | +21.5% | 0.00 | 23.21 | 19.89 | — | 4.12 |
| 2019 | $2.46B | +14.7% | 0.00 | 18.36 | 10.10 | — | 2.52 |
| 2020 | $3.05B | +23.9% | 0.00 | 18.05 | 10.87 | — | 3.35 |
| 2021 | $3.21B | +5.3% | 0.00 | 18.52 | 18.07 | — | 3.27 |
| 2022 | $3.90B | +21.6% | 0.00 | 14.28 | 9.13 | — | 1.98 |
| 2023 | $4.43B | +13.4% | 0.00 | 15.67 | 38.60 | — | 9.72 |
| 2024 | $4.69B | +6.0% | 0.00 | 12.57 | 8.05 | — | 1.98 |
| 2025 | $5.48B | +16.7% | 0.00 | 9.58 | 17.32 | — | 4.45 |
Quarterly revenue trend (last 6 quarters, SEC 10-Q)
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Mar 31, 2025 | $1.41B | +5.7% | — | 7.81% |
| Jun 30, 2025 | $2.90B | +7.9% | +106.1% | 39.37% |
| Jun 30, 2025 | $1.49B | -44.4% | -48.5% | 76.49% |
| Sep 30, 2025 | $4.48B | +8.7% | +199.9% | 27.02% |
| Sep 30, 2025 | $1.58B | -61.7% | -64.8% | 76.71% |
| Mar 31, 2026 | $1.64B | +16.2% | +3.7% | 10.96% |
Revenue (annual, SEC 10-K)
2016: 1,616
2017: 1,763
2018: 2,142
2019: 2,458
2020: 3,046
2021: 3,209
2022: 3,904
2023: 4,428
2024: 4,692
2025: 5,477
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Profitability trends (%)
GrossOperatingNet
Sources:SEC EDGAR — Company Facts (XBRL)
Free previewRegulatory Analyst
Filings & Ownership
Regulatory Analyst
score 20Improving
80% conf
Latest annual report (10-K) filed Feb 13, 2026. Latest quarterly report (10-Q) filed May 1, 2026. 23 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Feb 13, 2026.
- Latest quarterly report (10-Q) filed May 1, 2026.
- 23 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~10,000+ recent 13F-HR filings reference Digital Realty Trust; broad institutional reporting.
- Recent filers include Foresight Group Ltd Liability Partnership, SPIRIT OF AMERICA MANAGEMENT CORP/NY, SPIRIT OF AMERICA MANAGEMENT CORP/NY.
- 20 recent 13G passive institutional ownership notices.
Latest 10-K
Feb 13, 2026
Annual report
Latest 10-Q
May 1, 2026
8-K (recent)
23
Insider net
—
0B/0S
13F filers
10k+
Activist 13D
0
Recent 13F institutional filers (SEC EDGAR full-text)
| Filer | Form | Filed |
|---|---|---|
| Foresight Group Ltd Liability Partnership | 13F-HR | Feb 15, 2024 |
| SPIRIT OF AMERICA MANAGEMENT CORP/NY | 13F-HR | Jul 7, 2016 |
| SPIRIT OF AMERICA MANAGEMENT CORP/NY | 13F-HR | Apr 14, 2016 |
| SPIRIT OF AMERICA MANAGEMENT CORP/NY | 13F-HR | Jan 14, 2016 |
| SPIRIT OF AMERICA MANAGEMENT CORP/NY | 13F-HR | Oct 15, 2015 |
Recent 8-K material events
| Date | Form | Description |
|---|---|---|
| Jul 1, 2026 | 8-K | 8-K |
| Jun 29, 2026 | 8-K | 8-K |
| Jun 22, 2026 | 8-K | 8-K |
| Jun 1, 2026 | 8-K | 8-K |
| May 4, 2026 | 8-K | 8-K |
| Apr 23, 2026 | 8-K | 8-K |
| Feb 17, 2026 | 8-K | 8-K |
| Feb 5, 2026 | 8-K | 8-K |
Free previewSEC Filing Analyst
SEC Filing Deep-Analysis
SEC Filing Analyst
score -65Deteriorating
62% conf
4 risk signal(s), 1 positive signal(s), 2 watch item(s) detected from XBRL filing diff analysis. "Material weakness in internal controls" combined with earnings-cash flow divergence is especially concerning — it suggests the reported earnings may not be reliable due to control deficiencies, and the cash flow shortfall may be masking underlying issues.
- Earnings-cash flow divergence: Net income grew +151.2% while operating cash flow declined -1.5%. This divergence may indicate accrual-based earnings inflation — non-cash gains, aggressive revenue recognition, or working capital absorption. The accrual ratio (NI − OCF) is deteriorating.
- NEW: Going concern doubt in latest filing: The term "going concern" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 19 filing(s).
- NEW: Material weakness in internal controls in latest filing: The term "material weakness" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 22 filing(s).
- NEW: Restatement of financial statements in latest filing: The term "restate" "financial statements" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 20 filing(s).
- Operating cash flow exceeds net income: OCF is 1.72x net income, indicating high earnings quality — cash conversion is strong and accruals are not inflating reported profits.
- NEW: Restructuring: Restructuring appears in recent filings but not in the prior 24-month period. Monitor for materiality.
- Endogenous analysis: "Material weakness in internal controls" combined with earnings-cash flow divergence is especially concerning — it suggests the reported earnings may not be reliable due to control deficiencies, and the cash flow shortfall may be masking underlying issues.
- 1 new XBRL disclosure(s) in latest filing — expanding reporting scope.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- 5 new risk-language term(s) detected in filing text: Going concern doubt, Material weakness in internal controls, Restatement of financial statements, Restructuring, Off-balance sheet arrangements.
Revenue
$5.48B
+16.7% YoY
Operating income
$524.5M
-11.1% YoY
Net income
$948.8M
+151.2% YoY
Operating cash flow
$1.63B
-1.5% YoY
Total assets
$45.28B
+2.7% YoY
Total liabilities
$22.11B
-4.4% YoY
Long-term debt
$2.81B
+57.3% YoY
Cash & equivalents
$1.63B
+1046.5% YoY
Filing quality score
67/100
1 new disclosures
SEC XBRL metric changes (latest annual vs prior)
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | $4.69B | $5.48B | $785.2M | +16.7% |
| Operating income | $590.0M | $524.5M | $-65.5M | -11.1% |
| Net income | $377.7M | $948.8M | $571.2M | +151.2% |
| Operating cash flow | $1.66B | $1.63B | $-24.6M | -1.5% |
| Total assets | $44.11B | $45.28B | $1.17B | +2.7% |
| Total liabilities | $23.12B | $22.11B | $-1.01B | -4.4% |
| Long-term debt | $1.78B | $2.81B | $1.02B | +57.3% |
| Cash & equivalents | $141.8M | $1.63B | $1.48B | +1046.5% |
| Stockholders equity | $19.12B | $21.34B | $2.22B | +11.6% |
| Accounts receivable | $653.0M | $570.0M | $-83.0M | -12.7% |
| Interest expense | $299.1M | $437.7M | $138.6M | +46.3% |
XBRL disclosure changes (new vs dropped concepts)
| Type | Concepts |
|---|---|
| Added | StockIssuedDuringPeriodValueShareBasedCompensation |
| Removed | AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts, AssetImpairmentCharges, CurrentForeignTaxExpenseBenefit, CurrentIncomeTaxExpenseBenefit, CurrentStateAndLocalTaxExpenseBenefit, DeferredCostsLeasingNet, DeferredFederalIncomeTaxExpenseBenefit, DeferredForeignIncomeTaxExpenseBenefit, DeferredIncomeTaxExpenseBenefit, DeferredIncomeTaxLiabilities |
Risk language in filing text (EDGAR full-text search)
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Going concern doubt | high | 19 | 0 | NEW |
| Material weakness in internal controls | high | 22 | 0 | NEW |
| Restatement of financial statements | high | 20 | 0 | NEW |
| Impairment charge | medium | 30 | 3 | Ongoing |
| Restructuring | medium | 54 | 0 | NEW |
| Off-balance sheet arrangements | medium | 92 | 0 | NEW |
| Related party transactions | low | 45 | 0 | NEW |
Filing signal breakdown
Red flags: 4
Positive: 1
Watch: 2
Red flags
Positive
Watch
Unlock the rest
- ProValuationMarket cap $60.90B at $173.30 per share.
- ProPrice & TechnicalsPrice $173.30 — downtrend (below 200-DMA); 1-month momentum negative.
- ProMacro & RatesMarket regime: Risk-on · Supportive.
- ProRisk ScorecardComposite risk: Moderate.
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3 sections free · 4 Pro sections locked · composite -6
Macro exposure
Rate-sensitive · High sensitivityMacro regime: Risk-on · Supportive. Digital Realty Trust is a rate-sensitive name (high macro sensitivity) — a supportive backdrop, though defensives lag risk-on tapes.
Macro regime
Risk-on · Supportive
Yield curve
Normal
VIX
16.59
Fed funds
3.63%
CPI YoY
+4.2%
Analytical read
deterministic previewRevenue grew **+16.7%** YoY to $5.48B..
Risk
Moderate
Macro regime
Risk-on · Supportive
Macro exposure
Neutral
Descriptive analytics from public filings and macro data — not investment advice.
Peer comparison
Rate-sensitive groupHow DLR stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
| Company | Score | Macro |
|---|---|---|
| Capital One Financial COF | 23 | Neutral |
| Chubb Ltd. CB | 23 | Neutral |
| U.S. Bancorp USB | 17 | Neutral |
| JPMorgan Chase & Co. JPM | 16 | Neutral |
| Prologis Inc. PLD | 14 | Neutral |
| Simon Property Group SPG | 13 | Neutral |
| American Express Co. AXP | 11 | Neutral |
| Bank of America Corp. BAC | 11 | Neutral |
| Visa Inc. V | 8 | Neutral |
| Mastercard Inc. MA | 8 | Neutral |
| Public Storage PSA | 8 | Neutral |
| Dominion Energy D | 6 | Neutral |
| Charles Schwab Corp. SCHW | 6 | Neutral |
| CME Group Inc. CME | 6 | Neutral |
| PNC Financial Services PNC | 4 | Neutral |
| Realty Income Corp. O | 4 | Neutral |
| Travelers Cos. TRV | 2 | Neutral |
| Duke Energy Corp. DUK | 0 | Neutral |
| Bank of New York Mellon BK | 0 | Neutral |
| Marsh & McLennan MMC | 0 | Neutral |
| Equity Residential EQR | 0 | Neutral |
| Wells Fargo & Co. WFC | -1 | Neutral |
| Welltower Inc. WELL | -1 | Neutral |
| Exelon Corp. EXC | -3 | Neutral |
| NextEra Energy NEE | -4 | Neutral |
| Xcel Energy XEL | -5 | Neutral |
| American International Group AIG | -5 | Neutral |
| Truist Financial TFC | -5 | Neutral |
| Digital Realty Trust DLR● you | -6 | Neutral |
| Allstate Corp. ALL | -7 | Neutral |
| S&P Global SPGI | -8 | Neutral |
| American Water Works AWK | -9 | Neutral |
| Goldman Sachs Group GS | -10 | Neutral |
| Citigroup Inc. C | -11 | Neutral |
| Moody's Corp. MCO | -13 | Neutral |
| Morgan Stanley MS | -13 | Neutral |
| MetLife Inc. MET | -13 | Neutral |
| Southern Company SO | -15 | Neutral |
| BlackRock Inc. BLK | -15 | Neutral |
| Equinix Inc. EQIX | -16 | Neutral |
| American Electric Power AEP | -18 | Neutral |
| Crown Castle Inc. CCI | -18 | Neutral |
| American Tower Corp. AMT | -39 | Neutral |