NASDAQ · GDS
GDS Holdings Limited ADS financials
$31.28−1.20%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY19 Dec 31 | FY18 Dec 31 | FY17 Dec 31 | FY16 Dec 31 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.63B | $1.41B | $1.38B | $1.34B | $1.23B | $4.12B | $2.79B | $1.62B | $1.06B |
| Gross profit | $369.5M | $304.5M | $275.7M | $282.9M | $280.0M | $1.04B | $622.4M | $408.5M | $265.7M |
| Gross margin | 22.6% | 21.5% | 19.9% | 21.1% | 22.8% | 25.3% | 22.3% | 25.3% | 25.2% |
| Operating income | -$8.0M | $157.8M | -$311.8M | $103.4M | $89.6M | $479.8M | $168.4M | $82.2M | -$42.4M |
| Net income | $128.0M | $461.9M | -$613.6M | -$218.9M | -$206.7M | -$500.2M | -$430.3M | -$326.9M | -$403.4M |
| Net margin | 7.8% | 32.7% | −44.4% | −16.3% | −16.8% | −12.1% | −15.4% | −20.2% | −38.2% |
| Diluted EPS | $0.08 | $0.31 | $-0.42 | $-0.15 | $-0.14 | $-0.45 | $-0.43 | $-0.42 | $-1.35 |
| EBITDA | $709.6M | $602.1M | $589.8M | $555.4M | $501.3M | $1.62B | $909.9M | $460.4M | $185.0M |
| Operating cash flow | $481.0M | $265.6M | $291.8M | $407.3M | $189.0M | $293.4M | -$12.9M | -$167.8M | -$129.0M |
| Free cash flow | -$189.5M | -$168.6M | -$159.5M | -$443.1M | -$1.34B | -$4.26B | -$4.28B | -$1.93B | -$1.12B |
| Diluted shares | 1,644.6M | 1,475.1M | 1,468.2M | 1,464.4M | 1,452.9M | 1,103.0M | 990.3M | 784.6M | 299.1M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $2.04B | $1.08B | $1.04B | $1.25B | $5.81B | $2.16B |
| Short-term investments | $0.00 | $0.00 | $0.00 | $0.00 | — | — |
| Total debt | $6.60B | $5.90B | $6.01B | $6.22B | $16.19B | $12.79B |
| Total assets | $11.43B | $10.09B | $10.52B | $10.85B | $31.49B | $20.89B |
| Total liabilities | $7.47B | $6.85B | $7.67B | $7.34B | $20.14B | $15.36B |
| Shareholders' equity | $3.81B | $3.09B | $2.69B | $3.35B | $10.29B | $5.52B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology