Digital Realty Trust
DLR · NYSEReal Estate Investment Trusts · Fiscal year ends Dec 31
Digital Realty Trust reported revenue of $6.1B in the fiscal year ended Dec 2025, up 10.0% from the year before. Operating income was $658M, an operating margin of 10.8%, and net income was $1.3B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $4.4B | $4.7B | $5.5B | $5.6B | $6.1B |
| Operating income | $694M | $590M | $524M | $472M | $658M |
| Interest expense | $294M | $299M | $438M | $453M | $438M |
| Pre-tax income | – | – | – | – | $1.3B |
| Income tax | $73M | $32M | $76M | $55M | $32M |
| Net income | $1.7B | $378M | $949M | $602M | $1.3B |
| Diluted EPS | 5.94 | 1.11 | 2.88 | 1.61 | 3.58 |
| Diluted shares | 283M | 298M | 309M | 332M | 348M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $143M | $142M | $1.6B | $3.9B | $3.5B |
| Goodwill | $7.9B | $9.2B | $9.2B | $8.9B | $9.7B |
| Total assets | $36.4B | $41.5B | $44.1B | $45.3B | $49.4B |
| Total liabilities | $17.8B | $21.9B | $23.1B | $22.1B | $24.6B |
| Shareholders' equity | $18B | $17.6B | $19.1B | $21.3B | $22.9B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $1.7B | $1.7B | $1.6B | $2.3B | $2.4B |
| Depreciation & amortisation | $1.5B | $1.6B | $1.7B | $1.8B | $1.9B |
| Acquisitions | – | – | – | – | $309M |
| Dividends paid | $1.4B | $1.5B | $1.5B | $1.6B | $1.7B |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 6.0% | 16.7% | 1.4% | 10.0% |
| Operating income growth (YoY) | – | −15.0% | −11.1% | −10.0% | 39.6% |
| EPS growth (YoY) | – | −81.3% | 159.5% | −44.1% | 122.4% |
| Operating margin | 15.7% | 12.6% | 9.6% | 8.5% | 10.8% |
| Net margin | 38.6% | 8.0% | 17.3% | 10.8% | 21.4% |
| Return on equityBlank when equity is negative | 9.5% | 2.1% | 5.0% | 2.8% | 5.7% |
| Cash conversion (CFO ÷ net income) | 1.00x | 4.39x | 1.72x | 3.75x | 1.84x |
| Interest cover | 2.36x | 1.97x | 1.20x | 1.04x | 1.50x |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.