Digital Realty Trust (DLR) 10-K Red Flags
Risk signals extracted deterministically from Digital Realty Trust’s SEC 10-K/10-Q XBRL filings — no LLM, every finding cites the underlying data.
Detected red flags (16)
- 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.
- Market cap $60.90B at $173.30 per share.
- Trailing P/E 60.17, P/S 11.12, P/B 2.61.
- Price $173.30 — downtrend (below 200-DMA); 1-month momentum negative.
- RSI(14) 38.86.
- 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).
Filings & 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.
- 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.
Full DLR analyst report
Valuation (DCF & Graham), technicals, macro exposure, risk scorecard and 13F/13D ownership.
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