Digital Realty is one of the leading providers of cloud- and carrier-neutral data centers, offering colocation and interconnection services to hyperscalers and large businesses. Digital Realty operates 300 properties in 57 metropolitan areas across 31 countries, serving 5,000 customers.
It is a $66.6B real estate company. Revenue grew 17.4% over the last year, it keeps 12¢ of every dollar of sales as profit, and its net debt equals ~5.7 years of free cash flow. It trades at 83.0× earnings — in the most expensive third of its own history.
- Website
- digitalrealty.com
- Location
- Austin, TX
- Employees
- 4 282
- Sector
- Real Estate
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Valuation, Profitability, Health and Moat lag behind.
Valuation34
- P/E vs own history79th pct · 5/25
- FCF yield4.5% · 12/25
- P/S9.8x · 12/25
- EV/EBITDA28.0x · 5/25
Growth57
- Revenue CAGR8.4% · 12/25
- Net income CAGR-6.5% · 0/25
- EPS CAGR ~5Y22.7% · 25/25
- Fwd implied growth22.5% · 20/25
Profitability42
- ROIC4.2% · 5/25
- ROE3.3% · 5/25
- Net margin11.8% · 20/25
- Operating margin14.4% · 12/25
Health24
- Altman Z0.11 · 3/25
- Current ratio0.74 · 6/25
- Interest coverage3.9x · 10/25
- Net cash / debtD/A 34% · 5/25
Quality65
- Piotroski F5/9 · 15/25
- Beneish M-2.55 · 25/25
- FCF conversionn/a · 0/25
- Margin stabilityσ 4.6% · 25/25
Moat24
- ROIC >12% years0/10 yrs · 0/25
- Median gross margin18.4% · 6/25
- FCF-positive yearsn/a · 0/25
- Worst-year net marginworst 8.0% · 18/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- 2026ProductThe company opened its first data center in Barcelona, Spain, broke ground on a data center in Paris,…
- 2022AcquisitionThe company announced a 55% stake acquisition in Teraco Data Centres
- FY2021FinancialBest year on record$1.71B net income
- 2019AcquisitionDigital Realty announced the acquisition of European data center provider Interxion for $8.4…
- 2018AcquisitionThe company acquired Ascenty for $1.8 billion
- 2017AcquisitionThe company completed the acquisition of DuPont Fabros Technology
- FY2016FinancialProfitable every year on record10 consecutive profitable years in our data
- FY2016FinancialRevenue already above $1B$2.14B in first reported year
- FY2016FinancialPositive free cash flow every year since10-year streak
- 2015AcquisitionThe company acquired Telx for $1.886 billion
- 2010AcquisitionThe company acquired three data centers in Massachusetts and Connecticut for $375 million
- 2006AcquisitionThe company acquired a property in Phoenix, Arizona, for $175 million
- Nov 4, 2004IPOThe company became a public company via an initial public offering
- 2004AcquisitionThe company was formed in 2004 by GI Partners, which contributed 21 data centers that it acquired through bankruptcy…
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (59.5%)
- Revenue growing 17.4% year over year
- Strong cash conversion — FCF is 43.8% of revenue
Watch-outs
- Altman Z-Score 0.11 — elevated financial-distress risk
- Net debt equals ~5.7 years of free cash flow
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+17.4% YoY
- Profitable — makes more than it spends$799M TTM
- Profit growing — earnings are higher than last year+43.7% YoY
- Generates cash — cash left after running and investing$2.97B TTM
- Debt under control — could handle its obligations~5.7y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$66.6B market cap
- Not printing shares — share count not ballooning — you keep your slice+28.6% shares over ~5y
- Proven track record — years of profitability behind it10/10 profitable years
- Financially stable — balance sheet not near distressAltman Z 0.1 — distress
- Pays a dividend — returns cash to shareholdersyield 2.67%
- Valuation not extreme — price not wildly above earningsP/E 83.0
Peer comparisonDigital Realty Trust, Inc. vs 6 largest real estate peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| DLR this company | $66.6B | 83.0 | +17.4% | 11.8% | Strained |
| WELL Welltower Inc. | $162.5B | 108.1 | +37.6% | 12.1% | Strained |
| PLD Prologis, Inc. | $123.1B | 29.8 | +7.3% | 45.8% | Strained |
| EQIX Equinix, Inc. | $101.2B | 66.0 | +9.6% | 15.6% | Strained |
| AMT American Tower Corporation | $84.5B | 25.0 | +14.2% | 31.1% | Strained |
| SPG Simon Property Group, Inc. | $64.7B | 14.0 | +15.0% | 66.5% | Strained |
| PSA Public Storage | $54.1B | 26.5 | +3.0% | 41.8% | Strained |
Head-to-head: DLR vs WELL · DLR vs PLD · DLR vs EQIX
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/DLR
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of DLR on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $179.47 · market cap $66.6B.