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Digital Realty Trust
DLRReal EstateGenerated Jul 6, 2026, 09:58 PM UTC
DLR (Digital Realty Trust) analytical snapshot. Revenue grew +10.0% YoY to $6.11B. 5-year revenue CAGR +6.7%; 10y CAGR +12.4%. Net margin at 21.41% (expanding ▲). Market cap $61.04B at $173.70 per share. Trailing P/E 48.52, P/S 9.99, P/B 2.61. EV/Operating income ≈ 93.98 (EV $61.88B). Risk: Moderate. Macro: Risk-on · Supportive. Composite analytical score -4 (data confidence 74%). Descriptive analytics from public filings — not investment advice.
Free SEC analysis
— computed from SEC filings, free to readFilings & Ownership
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.
| 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 |
| 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 |
SEC Filing Deep-Analysis
3 risk signal(s), 1 positive signal(s) detected from XBRL filing diff analysis. Revenue grew +10.0% but receivables grew +27.9% — the receivables-to-revenue gap suggests growth may be partially driven by extended credit terms rather than genuine demand. If DSO continues to rise, a revenue reversal or bad-debt charge could follow.
- Receivables outpacing revenue: Accounts receivable grew +27.9% YoY vs revenue growth of +10.0%. The +17.8% spread suggests extended credit terms, channel stuffing risk, or collection deterioration. Investigate the allowance for doubtful accounts and DSO trend.
- Material weakness in internal controls: The term "material weakness" "internal control" appears in 5 recent filing(s) (vs 2 in the prior period). This risk language is ongoing.
- Restatement of financial statements: The term "restatement of" "previously issued" appears in 5 recent filing(s) (vs 1 in the prior period). This risk language is ongoing.
- Operating cash flow exceeds net income: OCF is 1.84x net income, indicating high earnings quality — cash conversion is strong and accruals are not inflating reported profits.
- Endogenous analysis: Revenue grew +10.0% but receivables grew +27.9% — the receivables-to-revenue gap suggests growth may be partially driven by extended credit terms rather than genuine demand. If DSO continues to rise, a revenue reversal or bad-debt charge could follow.
- 1 new XBRL disclosure(s) in latest filing — expanding reporting scope.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- Ongoing high-severity risk language: Material weakness in internal controls, Restatement of financial statements.
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | $5.55B | $6.11B | $557.7M | +10.0% |
| Operating income | $471.9M | $658.5M | $186.6M | +39.6% |
| Net income | $602.5M | $1.31B | $706.1M | +117.2% |
| Operating cash flow | $2.26B | $2.41B | $150.7M | +6.7% |
| Total assets | $45.28B | $49.41B | $4.13B | +9.1% |
| Total liabilities | $22.11B | $24.56B | $2.46B | +11.1% |
| Long-term debt | $1.78B | $2.81B | $1.02B | +57.3% |
| Cash & equivalents | $3.87B | $3.45B | $-419.2M | -10.8% |
| Stockholders equity | $21.34B | $22.93B | $1.59B | +7.4% |
| Accounts receivable | $570.0M | $728.8M | $158.8M | +27.9% |
| Interest expense | $452.8M | $437.9M | $-14.9M | -3.3% |
| Type | Concepts |
|---|---|
| Added | StockIssuedDuringPeriodValueShareBasedCompensation |
| Removed | AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts, AssetImpairmentCharges, CurrentForeignTaxExpenseBenefit, CurrentIncomeTaxExpenseBenefit, CurrentStateAndLocalTaxExpenseBenefit, DeferredCostsLeasingNet, DeferredFederalIncomeTaxExpenseBenefit, DeferredForeignIncomeTaxExpenseBenefit, DeferredIncomeTaxExpenseBenefit, DeferredIncomeTaxLiabilities |
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Material weakness in internal controls | high | 5 | 2 | Ongoing |
| Restatement of financial statements | high | 5 | 1 | Ongoing |
| Impairment charge | medium | 5 | 3 | Ongoing |
| Restructuring | medium | 5 | 2 | Ongoing |
| Off-balance sheet arrangements | medium | 5 | 2 | Ongoing |
| Related party transactions | low | 5 | 0 | NEW |
Fundamentals
Revenue grew +10.0% YoY to $6.11B. 5-year revenue CAGR +6.7%; 10y CAGR +12.4%. Net margin at 21.41% (expanding ▲).
- Revenue grew +10.0% YoY to $6.11B.
- 5-year revenue CAGR +6.7%; 10y CAGR +12.4%.
- Net margin at 21.41% (expanding ▲).
- Return on equity 5.71%, ROA 2.65%, ROIC 2.87%.
- Gross margin 0.00%, operating margin 10.77%.
- Net income up ▲ +117.2% YoY.
- Debt/equity 0.14, current ratio —, net debt $845.2M.
- Asset turnover 0.13 — capital efficiency.
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2024 | $5.55B | +1.4% | 0.00 | 8.49 | 10.85 | — | 2.82 |
| 2025 | $6.11B | +10.0% | 0.00 | 10.77 | 21.41 | — | 5.71 |
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Jun 30, 2024 | $1.36B | -0.7% | — | 5.91% |
| Sep 30, 2024 | $1.43B | +2.1% | +5.5% | 3.58% |
| Mar 31, 2025 | $1.41B | +5.7% | -1.6% | 7.81% |
| Jun 30, 2025 | $1.49B | +10.1% | +6.1% | 69.13% |
| Sep 30, 2025 | $1.58B | +10.2% | +5.6% | 4.30% |
| Mar 31, 2026 | $1.64B | +16.2% | +3.7% | 10.96% |
Pro analysis — preview
— score, signals & key metrics shown; full reasoning lockedValuation
Market cap $61.04B at $173.70 per share. Trailing P/E 48.52, P/S 9.99, P/B 2.61. EV/Operating income ≈ 93.98 (EV $61.88B).
- Market cap $61.04B at $173.70 per share.
Price & Technicals
Price $173.70 — downtrend (below 200-DMA); 1-month momentum negative. RSI(14) 37.45.
- Price $173.70 — downtrend (below 200-DMA); 1-month momentum negative.
Macro & Rates
Risk-on · Supportive. Real GDP growth 2.10% (quarterly, as of Jan 1, 2026). CPI inflation +4.2% YoY (above the Fed's long-run ~2% target). Fed funds rate 3.63%, 10Y Treasury 4.49%.
- Market regime: Risk-on · Supportive.
Risk Scorecard
Composite risk Moderate. Leverage debt/equity 0.14 (low). Earnings stability: net-margin stdev 7.18pp over 17y.
- Composite risk: Moderate.
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3 sections free · 4 Pro previews · composite -4
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.
Analytical read
deterministic previewRevenue grew **+10.0%** YoY to $6.11B..
Peer comparison
Rate-sensitive groupHow DLR stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
| Company | Score | Macro |
|---|---|---|
| Allstate Corp. ALL | 30 | Neutral |
| Capital One Financial COF | 23 | Neutral |
| Chubb Ltd. CB | 20 | Neutral |
| American Express Co. AXP | 16 | Neutral |
| U.S. Bancorp USB | 14 | Neutral |
| Simon Property Group SPG | 13 | Neutral |
| Dominion Energy D | 12 | Neutral |
| Bank of America Corp. BAC | 11 | Neutral |
| Mastercard Inc. MA | 8 | Neutral |
| Visa Inc. V | 7 | Neutral |
| Charles Schwab Corp. SCHW | 6 | Neutral |
| CME Group Inc. CME | 6 | Neutral |
| JPMorgan Chase & Co. JPM | 6 | Neutral |
| Moody's Corp. MCO | 5 | Neutral |
| Wells Fargo & Co. WFC | 5 | Neutral |
| Citigroup Inc. C | 3 | Neutral |
| Exelon Corp. EXC | 3 | Neutral |
| Realty Income Corp. O | 3 | Neutral |
| Duke Energy Corp. DUK | 2 | Neutral |
| Travelers Cos. TRV | 2 | Neutral |
| American International Group AIG | 1 | Neutral |
| PNC Financial Services PNC | 0 | Neutral |
| Bank of New York Mellon BK | 0 | Neutral |
| Marsh & McLennan MMC | 0 | Neutral |
| Equity Residential EQR | 0 | Neutral |
| Public Storage PSA | -1 | Neutral |
| Welltower Inc. WELL | -1 | Neutral |
| NextEra Energy NEE | -2 | Neutral |
| Morgan Stanley MS | -2 | Neutral |
| Prologis Inc. PLD | -3 | Neutral |
| Digital Realty Trust DLR● you | -4 | Neutral |
| Xcel Energy XEL | -5 | Neutral |
| Truist Financial TFC | -5 | Neutral |
| American Water Works AWK | -9 | Neutral |
| Goldman Sachs Group GS | -10 | Neutral |
| S&P Global SPGI | -10 | Neutral |
| MetLife Inc. MET | -13 | Neutral |
| BlackRock Inc. BLK | -14 | Neutral |
| Southern Company SO | -15 | Neutral |
| Equinix Inc. EQIX | -16 | Neutral |
| American Electric Power AEP | -18 | Neutral |
| Crown Castle Inc. CCI | -19 | Neutral |
| American Tower Corp. AMT | -39 | Neutral |