Saturday 10 October 2026 Export all GDS data to Excel Powerpack

GDS Holdings

GDS Technology Information Technology Services

GDS Holdings' revenue for fiscal 2025 (year ended December 2025) was $1.6 billion, up 10.8% from fiscal 2024. In the quarter to June 2026, revenue grew 12.4%, EPS grew 1,116.7%, free cash flow grew 142.2% and total debt rose 2.59%, each against the same quarter a year earlier. Revenue growth for ten consecutive years.

30.97 0.53 +1.74%

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Market cap: $5.9B
P/E: 11.4×
Fwd P/E: 26.4×
Dividend yield: —
F-score: 6/9
Altman Z: 0.76
Beneish M: −2.69
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 1.71

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	2	—	—	—	—

Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 5,930.00

Revenue 1,754.44

Net Income 550.97

Free Cash Flow (108.67)

Net Debt 4,353.74

Current Ratio 1.78

Debt/Equity 1.47

P/E ratio 11.43

Fwd P/E 26.40

P/S ratio 3.43

P/B ratio 1.35

Past 5Y EPS Growth —

This Y EPS Growth 670.15%

Next Y EPS Growth (106.86%)

Next Y revenue growth 20.00%

Next 5Y EPS Growth (0.71%)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 30.78%

10-year low 10-year high

P/B against its own 10 years 26.59%

10-year low 10-year high

EV/Sales against its own 10 years 22.27%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	1,095	1,104	2,101	2,200
Receivables	390	454	422	464
Inventory	—	—	—	—
Other	42	58	57	—
	1,552	1,615	2,580	3,457

	2023	2024	2025	Q'26
Payables	484	361	269	352
ST’ Debt	400	604	411	1,112
Other	—	—	16	—
	1,174	1,263	992	1,938

Compound Annual Growth %

	10y	5y	3y
Sales	30.38%	13.84%	4.69%
Cash Flow	0.00%	58.70%	3.30%
Earnings	0.00%	0.00%	0.00%
Book Value	27.49%	0.04%	2.58%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	488	455	—	—	—
’25	374	405	406	406	1,590
’24	364	389	423	260	1,436
’23	351	341	345	370	1,407
’22	354	345	333	354	1,386
’21	263	289	320	342	1,212
’20	175	190	225	242	832

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	65	210	—	—	—
’25	107	122	105	134	468
’24	(17)	63	93	131	270
’23	(19)	102	69	139	292
’22	(39)	244	69	151	425
’21	(4)	53	71	65	186
’20	(24)	26	(1)	45	46

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(47)	24	—	—	—
’25	(31)	(56)	(97)	11	(173)
’24	(238)	(206)	(337)	627	(155)
’23	(316)	102	(607)	(66)	(589)
’22	(380)	2	(145)	(552)	(1,075)
’21	(4)	(589)	(434)	65	(1,345)
’20	(381)	(119)	(337)	(306)	(1,143)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.53	0.52	—	—	—
’25	0.48	(0.06)	0.45	(0.35)	0.65
’24	(0.27)	(0.18)	(0.16)	3.12	2.48
’23	(0.40)	(0.18)	(0.32)	(2.44)	(3.33)
’22	(0.50)	(0.32)	(0.27)	(0.16)	(1.20)
’21	(0.03)	(0.28)	(0.29)	(0.04)	(1.14)
’20	(0.09)	(0.11)	(0.21)	(0.26)	(0.72)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	7.54	6.90	18.59	20.84	43.27	41.44	8.41	7.81	5.01	16.93	Analyst estimates 2026–2028 Powerpack
	High	10.76	23.76	46.18	54.00	100.50	116.76	48.42	27.89	24.74	52.50
People
People	Employees	461	740	893	1,100	1,479	1,878	2,185	2,345	2,276	2,434
	Revenue/emp, $m	0.34	0.32	0.47	0.54	0.56	0.65	0.63	0.60	0.63	0.65
Income, $m
Income, $m	Revenue	159	239	422	597	832	1,212	1,386	1,407	1,436	1,590
	Gross margin, %	25.16	25.27	22.29	25.29	27.02	22.76	20.76	19.31	21.53	22.62
	EBT	(43)	(49)	(66)	(62)	(79)	(147)	(147)	(608)	(86)	99
	EBT margin, %	(26.96)	(20.60)	(15.75)	(10.34)	(9.56)	(12.13)	(10.61)	(43.19)	(5.96)	6.24
	Net income	(42)	(48)	(65)	(64)	(97)	(185)	(188)	(606)	460	133
	Depreciation	35	63	121	180	261	437	497	519	467	495
Per share, $
Per share, $	Revenue	4.25	2.44	3.41	4.33	5.31	6.67	7.57	7.67	7.79	8.37
	Earnings	(1.55)	(0.51)	(0.51)	(0.52)	(0.72)	(1.14)	(1.20)	(3.33)	2.48	0.70
	Cash flow	(0.60)	(0.26)	(0.02)	0.31	0.30	1.03	2.32	1.59	1.46	2.46
	Capex	(3.98)	(2.67)	(5.34)	(5.16)	(7.59)	(8.43)	(8.19)	(4.80)	(2.30)	(3.38)
	Free cash flow	(4.58)	(2.93)	(5.35)	(4.85)	(7.29)	(7.41)	(5.87)	(3.21)	(0.84)	(0.91)
	Book value	12.02	6.75	6.74	11.92	23.64	20.94	18.78	14.67	17.04	19.53
	Shares, m	37	98	124	138	157	182	183	184	184	190
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	9.47	53.69
	P/S	2.00	9.44	6.77	11.92	17.64	56.75	3.14	1.13	3.05	4.17
	P/B	0.71	3.41	3.43	4.77	3.96	17.94	1.26	0.59	1.39	1.79
	EV/Sales	4.23	12.33	10.52	14.38	18.76	60.09	6.75	4.96	6.39	6.83
	EV/FCF	0.00	(10.30)	(6.70)	(12.82)	(13.65)	(44.23)	(8.70)	(4.39)	(59.33)	(62.61)
Cash, $m
Cash, $m	Operating cash flow	(23)	(26)	(2)	42	46	186	425	292	270	468
	Capex	(149)	(261)	(661)	(711)	(1,189)	(1,531)	(1,500)	(881)	(424)	(642)
	Free cash flow	(171)	(287)	(663)	(669)	(1,143)	(1,345)	(1,075)	(589)	(155)	(173)
Balance, $m
Balance, $m	Working capital	110	5	(71)	446	1,547	155	200	378	353	1,588
	Total debt	632	970	1,908	2,310	3,296	5,435	6,306	6,481	5,902	6,331
	Net debt	356	691	1,581	1,465	927	3,577	5,003	5,386	4,798	4,230
	Shareholders’ equity	449	662	834	1,643	3,705	3,803	3,438	2,693	3,142	3,711
Returns, %
Returns, %	ROA	(5.92)	(3.04)	(2.55)	(1.88)	(1.66)	(2.10)	(2.02)	(5.67)	4.59	1.17
	ROIC	(0.50)	0.56	0.66	1.40	1.32	0.75	0.61	(2.69)	1.26	(0.06)
	ROE	(30.72)	(8.70)	(8.69)	(6.23)	(4.12)	(5.43)	(6.20)	(20.02)	16.33	3.63

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
APLD Applied Digital Corporation	$7.1B	— (loss-making)	— (loss-making)	+322.41% (above 0%: growing)	n/m	−504.22% (below 0%: shrinking)	15.30%	(18.25%)	Compare
INGM Ingram Micro Holding Corporation	$6.4B	15.1×	14.0×	+13.58% (above 0%: growing)	+200.00% (above 0%: growing)	−69.92% (below 0%: shrinking)	6.60%	1.62%	Compare
GDS GDS Holdings	$5.9B	11.4×	26.4×	+12.41% (above 0%: growing)	n/m	+142.21% (above 0%: growing)	21.51%	14.22%
EPAM EPAM Systems, Inc.	$5.9B	15.2×	11.8×	+4.53% (above 0%: growing)	+26.28% (above 0%: growing)	−140.67% (below 0%: shrinking)	30.36%	10.76%	Compare
G Genpact Limited	$5.8B	10.1×	9.2×	+7.10% (above 0%: growing)	+13.16% (above 0%: growing)	−64.88% (below 0%: shrinking)	36.50%	14.36%	Compare
CIFR Cipher Digital Inc.	$5.6B	— (loss-making)	— (loss-making)	−42.99% (below 0%: shrinking)	n/m	−255.68% (below 0%: shrinking)	39.42%	(316.21%)	Compare
EXLS ExlService Holdings, Inc.	$5.6B	23.1×	17.5×	+15.61% (above 0%: growing)	+2.44% (above 0%: growing)	−22.73% (below 0%: shrinking)	37.99%	14.68%	Compare
SAIC Science Applications International Corporation	$5.4B	15.6×	14.6×	+6.27% (above 0%: growing)	−11.40% (below 0%: shrinking)	+13.91% (above 0%: growing)	12.71%	8.09%	Compare
PSN Parsons Corporation	$4.6B	30.7×	25.4×	−0.53% (below 0%: shrinking)	n/m	−72.44% (below 0%: shrinking)	18.73%	0.08%	Compare
Median of peers	$5.7B	15.4×	14.3×	+6.68%	+13.16%	−71.18%	24.55%	4.85%

All 73 Information Technology Services stocks →

GDS Holdings (GDS) key facts

Strength: GDS Holdings' revenue for fiscal 2025 (year ended December 2025) was $1.6 billion, up 10.8% from fiscal 2024.
GDS Holdings (GDS) is an Information Technology Services company in the Technology sector, listed on Nasdaq.
As of October 9, 2026, GDS traded at $30.97, a market capitalization of $5.9 billion.
Return on equity was 3.63% and debt-to-equity 1.47.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 0.76 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.