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GDSGDS Holdings Limited
$30.41$5.9B
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GDS logoGDS Holdings Limited(GDS)Earnings, Financials & Key Ratios

GDS•NASDAQ
$30.41
48.7× P/E·Price updated Jul 7, 2026
SectorTechnologyIndustryIT ServicesSub-IndustryData Centers and Cloud Infrastructure
AboutGDS Holdings Limited, together with its subsidiaries, develops and operates data centers in the People's Republic of China. The company provides colocation services comprising critical facilities space, customer-available power, racks, and cooling; managed hosting services, including business continuity and disaster recovery, network management, data storage, system security, operating system, database, and server middleware services; managed cloud services; and consulting services. It serves cloud service providers, large Internet companies, financial institutions, telecommunications and IT service providers, and large domestic private sector and multinational corporations. The company was founded in 2001 and is headquartered in Shanghai, the People's Republic of China.Show more
  • Revenue$11.12B+7.7%
  • EBITDA$4.83B+7.2%
  • Net Income$924M-73.0%
  • EPS (Diluted)4.24+193.0%
  • Gross Margin20.45%-5.0%
  • EBITDA Margin43.43%-0.5%
  • Operating Margin13.17%+18.0%
  • Net Margin8.31%-75.0%
  • ROE3.59%-77.0%

GDS Price & Volume

GDS Holdings Limited (GDS) stock price & volume — 10-year historical chart

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Volatile Revenue Growth Masks Persistent Capital Intensity

Investment Thesis • Updated 2026Q1

VerdictNeutral
Growth:Mixed
Profitability:Strained
Financial:Strained
Cash Flow:Burning
Primary Risk:High leverage and regulatory

Key Thesis Takeaways

  • GDS Holdings faces a complex outlook characterized by significant revenue volatility, with growth rates swinging from a 2.6% contraction in 2025Q3 to a 22.9% expansion in 2026Q1.
  • While the company has successfully reduced its debt-to-equity ratio from 2.51 in 2024Q1 to 1.45 in 2026Q1, it remains heavily reliant on external financing to support its massive $42.5 billion net PPE asset base.
  • Investors should remain cautious as the company struggles to convert its reported $2.6 billion net income into sustainable free cash flow, which remained negative at $320.4 million in 2026Q1.

Verdict Logic

while the company has improved its current ratio to 1.87, the persistent negative free cash flow of $320.4 million in 2026Q1 and high capital intensity suggest significant execution risks remain.

GDS Growth Metrics

GDS Holdings Limited (GDS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years31.79%
5 Years14.15%
3 Years6.04%
TTM7.22%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-37.68%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM7228.57%

Return on Capital

10 Years0.73%
5 Years0.42%
3 Years0.04%
Last Year2.13%

GDS Recent Earnings

GDS Holdings Limited (GDS) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 11/12 qtrs (92%)●Beat Revenue 5/12 qtrs (42%)
Q2 2026Latest
May 20, 2026
Metric
Actual
Est
EPS
$1.53+4689.1%
$0.03
Rev
$488M+11.8%
$436M
Q2 2026
Mar 17, 2026
Metric
Actual
Est
EPS
$0.56+1500.0%
$0.04
Rev
$418M-0.8%
$421M
Q4 2025
Nov 19, 2025
Metric
Actual
Est
EPS
$0.45+850.0%
$0.06
Rev
$405M-0.7%
$408M
Q3 2025
Aug 20, 2025
Metric
Actual
Est
EPS
$0.06+45.5%
$0.11
Rev
$404M+0.5%
$403M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 20, 2026
$1.53vs $0.03+4689.1%
$488Mvs $436M+11.8%
Q2 2026Mar 17, 2026
$0.56vs $0.04+1500.0%
$418Mvs $421M-0.8%
Q4 2025Nov 19, 2025
$0.45vs $0.06+850.0%
$405Mvs $408M-0.7%
Q3 2025Aug 20, 2025
$0.06vs $0.11+45.5%
$404Mvs $403M+0.5%
Based on last 12 quarters of dataView full earnings history →

Latest GDS News

Recent stock market news and headlines for GDS Holdings Limited (GDS)

Seeking Alpha·Jun 27, 2026
GDS Holding: A Sum-Of-The-Parts Opportunity With AI As The Growth Engine

GDS Holdings offers a catalyst-driven opportunity, underpinned by a significant stake in DayOne. Record Q1 2026 bookings and anticipated AI-driven demand growth could drive EBITDA from ~$850 million today to $1.5–2.0 billion by 2029. After considering DayOne stake, the market values GDS's core China operations at only ~7.4x EV/EBITDA, well below what we believe is appropriate for an AI country leader.

GlobeNewsWire·Jun 25, 2026
GDS Concludes Successful 2026 Annual General Meeting with All Resolutions Passed, Including Election and Re-election of Directors

SHANGHAI, China, June 25, 2026 (GLOBE NEWSWIRE) -- GDS Holdings Limited (“GDS Holdings,” “GDS” or the “Company”) (NASDAQ: GDS; HKEX: 9698), a leading developer and operator of high-performance data centers in China, today announced that it held its Annual General Meeting of Shareholders (“2026 AGM”) on June 25, 2026. Each of the resolutions submitted to the shareholders for approval at the 2026 AGM has been approved.

Peers Comparison

Key metrics vs top competitors for GDS Holdings Limited (GDS)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
GDS logoGDSGDS Holdings LimitedCurrent
$30.41$5.91B48.737.74%8.31%3.59%—
VNET logoVNETVNET Group, Inc.
$7.71$2.11B-58.2017.18%-21.78%-26.68%—
BTBT logoBTBTBit Digital, Inc.
$1.65$537.3M-5.32-30.65%-146.01%-0.11%—
DLR logoDLRDigital Realty Trust, Inc.
$174.90$61.46B48.8510.04%21.47%5.51%—
EQIX logoEQIXEquinix, Inc.
$1022.93$100.89B74.345.85%15.03%10.02%—
COR logoCORCencora, Inc.
$304.48$59.24B38.259.31%0.78%105.78%—

Compare GDS vs Peers

GDS Holdings Limited (GDS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs VNET

Most directly comparable listed peer for GDS.

Scale Benchmark

vs NVDA

Larger-name benchmark to compare GDS against a more recognizable public peer.

Peer Set

Compare Top 5

vs VNET, BTBT, DLR, EQIX

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GDS Frequently Asked Questions

GDS Holdings Limited (GDS) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is GDS Holdings Limited's revenue?

GDS Holdings Limited (GDS) reported $12.02B in revenue for fiscal year 2025. This represents a 2466% increase from $468.3M in 2014.

How fast is GDS Holdings Limited growing?

GDS Holdings Limited (GDS) grew revenue by 7.7% over the past year. This is steady growth.

Is GDS profitable?

Yes, GDS Holdings Limited (GDS) is profitable, generating $2.83B in net income for fiscal year 2025 (8.3% net margin).

Dividend & Returns
What is GDS's return on equity?

GDS Holdings Limited (GDS) has a return on equity (ROE) of 3.6%. This is below average, suggesting room for improvement.

What is GDS Holdings Limited's free cash flow?

GDS Holdings Limited (GDS) had negative free cash flow of $1.34B in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in GDS back in 2014?

Total return calculator · dividends reinvested · 12+ years of data

See returns →