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Digital Realty Income Statement

Revenue, expenses, and profitability over time

Digital Realty generated $6.1B in trailing twelve-month revenue, up 0.1% year-over-year. Net income was $1.3B with a 21.41% net margin. Diluted EPS is $3.59, which grew 1.2% year-over-year. Based on the Q4 2025 filing.

Total Revenue (TTM)$6.1BOperating Income (TTM)$658.5MNet Income (TTM)$1.3BEps Diluted (TTM)$3.59
Latest FilingQ4 2025
Report Date2026-02-13
Market Cap$64.3B
P/E Ratio49.10
ROE5.91%

Operating Expenses

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Depreciation and amortization$460M$455.4M$443M$461.2M$497M$493.5M
General and administrative$117.6M$126.8M$123.5M$136M$141.7M$164.2M
Business Combination Acquisition And Integration Related Costs$24.2M$11.8M$39.9M$22.5M$86.6M$36.1M
Other Expenses Operating$4.8M—$112K$195K$3.3M—
Real Estate Taxes And Insurance$50.5M$52.1M$53.3M$54.5M$56.3M$55.5M
Other operating expenses$1.3B$1.3B$1.2B$1.3B$1.4B$1.5B
Total operating expenses$1.3B$1.3B$1.2B$1.3B$1.4B$1.5B

Earnings Per Share

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Basic earnings per share$0.13$0.54$0.30$3.03$0.17$0.25
Diluted earnings per share$0.09$0.51$0.27$2.94$0.15$0.23
Weighted-average shares, basic328M323.3M336.7M337.6M341.4M339.8M
Weighted-average shares, diluted336.2M331.5M344.7M345.7M349.2M347.8M

Other Income & Expense

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Income from equity method investments-$26.5M-$36.2M-$7.6M-$12.1M-$16.9M—
Gain (loss) on extinguishment of debt-$2.6M-$2.2M$2.3K$2.3K$2.3K$2.3K
Interest expense$123.8M$104.7M$98.5M$109.4M$113.6M$116.5M

Income Before Tax

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Income before income taxes——$336.3M$336.3M$336.3M$336.3M

Tax

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Income tax expense$12.4M$4.9M$17.1M$12.9M$11.7M—

Net Income

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Net income attributable to noncontrolling interests-$11.1M-$3.9M-$3.6M$14.8M-$4.1M—
Net income$51.2M$189.6M$110M$1B$67.8M$98.6M

Operating Income

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Operating income$168.3M$144.3M$195.8M$211.7M$138.4M$112.6M

Other

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Adjustments To Additional Paid In Capital Adjustments To Carrying Amount Of Redeemable Non Controlling Interests-$1.5M-$94.3M$5.5M-$4.8M$226K$94.8M
Adjustments To Additional Paid In Capital Equity Plans Net Of Share Settlement To Satisfy Tax Withholding From Vesting$4.8M—$2.6M-$2.8M$5.6M-$21.2M
Amortization Deferred Stock Based Compensation$22.6M$14.9M$20.9M$25M$23.9M$24M
Amortization Of Deferred Financing Costs$5.7M$4.3M$7.6M$7.6M$7.7M$9.3M
Amortization Of Unearned Compensation On Share Based Awards$23.4M$17.3M$22.5M$27.2M$26.3M$26.4M
Stock options excluded as their inclusion would be anti-dilutive (in shares)10.9K17.7K17.6K17K17K17.3K
Comprehensive Income (Loss), Net of Tax, Attributable to Parent$282.4M—$365.4M$1.4B$77.7M$163.3M
Less: comprehensive income attributable to noncontrolling interest$72.9M-$143.5M$41.1M$71.2M$33.4M$60.7M
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest$355.3M—$406.5M$1.5B$111.1M$224M
Foreign——$32.6M$32.6M$32.6M$32.6M
Current State And Local Tax Expense Benefit——$641K$641K$641K$641K
Federal——-$8.5K-$8.5K-$8.5K-$8.5K
Deferred taxes——-$25.3M-$25.3M-$25.3M-$25.3M
Deferred Leasing Costs Capitalized$12.3M$12.3M$9.1M$9.1M$9.1M$9.1M
Defined Contribution Plan Cost Recognized$2.4M$2.4M$2.6M$2.6M$2.6M$2.6M
Defined Contribution Plan Employers Matching Contribution Annual Vesting Percentage—100.0%———100.0%
Dividends, Common Stock$408.4M$418.5M$419.6M$422.9M$426M$428.1M
Dividends, Preferred Stock, Stock$10.2M$10.2M$10.2M$10.2M$10.2M$10.2M
Effect of exchange rate changes on cash, cash equivalents and restricted cash-$27M-$104.4M-$26.4M-$124.9M-$2.5M—
Effective tax rates——$0$0$0$0
Income taxes at U.S. statutory rate of 21%——$0.1$0.1$0.1$0.1
Changes in unrecognized tax benefits—————2.1%
Distributions of earnings from equity method investees$10.3M$10.9M$60M$14M$26M$22.4M
Gain/(loss) on dispositions, net-$556K$144.9M$1.1M$931.8M$19.8M$42.9M
Gain Loss On Early Extinguishment Of Debt$2.6M$2.2M-$2.3K-$2.3K-$2.3K-$2.3K
Gain Loss On Sale Of Property Plant Equipment$0$144.9M$1.1M$931.8M$19.8M$42.9M
Foreign——$27.8M$27.8M$27.8M$27.8M
State taxes——$407.5K$407.5K$407.5K$407.5K
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount——$70.6M$70.6M$70.6M$70.6M
Changes in unrecognized tax benefits——$7.2M$7.2M$7.2M$7.2M
Income Taxes Paid, Net$19.7M$17.8M$43M$29.5M$21.1M$19.4M
Increase Decrease In Accounts And Other Assets$0$113.2M$104.2M$136.5M$0$117.6M
Accounts payable and other current liabilities$3.3M$302.7M-$133.8M$173.7M$74.7M$261.8M
Incremental Common Shares Attributable To Conversion Of Debt Securities$67.8K$67.8K$57.3K$57.3K$57.3K$57.3K
Incremental Common Shares Attributable To Dilutive Effect Of Redeemable Noncontrolling Interest Shares7.9M7.8M7.6M7.8M7.5M7.6M
Incremental Common Shares Attributable To Performance Based Awards228K—222K216K225K—
Incremental Common Shares Attributable To Unvested Incentive Units77K98K138K67K92K110K
Incremental Common Shares Attributable To Unvested Restricted Stock Units69K44K96K80K82K30K
Minority Interest Increase Decrease From Contributions From Distributions To Noncontrolling Interest Holders-$2M-$129K-$135K$1.9M$2M$0
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation$474.4M$1.5B-$1B—-$176.5M—
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$1.1B-$512M-$903.2M$0-$729.6M-$759.1M
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$566.5M$769.5M$399.1M$641.2M$652.9M$719M
Net Income Loss Attributable To Noncontrolling Interest-$11.1M-$3.9M-$3.6M$14.8M-$4.1M—
Net Income Loss Attributable To Redeemable Noncontrolling Interest$9.9M$4.6M$6.2M$6M$5.9M$4.5M
Net loss$50M$190.2M$112.5M$1.1B$69.6M$100.6M
Noncontrolling Interest, Decrease from Deconsolidation$5.1M$5.1M——$5.2M—
Noncontrolling Interest Increase From Business Combination——$2.7M$2.7M$2.7M$2.7M
Number of operating segments——1.00———
Number of reportable segments——1.00———
Number of reporting units0.250.250.250.250.250.25
Occupancy and Related Charges$605.9M$610.6M$552M$607M$653.9M$694.1M
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax$405.8M-$788.1M$286.4M$443.7M$40.7M$127.8M
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent$240.8M-$542.5M$262.1M$392.1M$11M$65.5M
Other comprehensive income/(loss)$315.2M-$664.6M$300.1M$439.6M$47.4M$127.9M
Other Noncash Income (Expense)$0-$28.9M-$9.3M$1.5M$25M$59.3M
Other income, net (Note 6)$37.8M$44.5M$32.8M$37.7M$47.7M$42.8M
Ownership Interest Held In Operating Properties Sold—15.1%————
Payment for (Proceeds from) Other Investing Activity$27.2M$23.1M$48.1M-$5.6M-$51.6M-$9M
Payments of Dividends$418.8M$10.2M$848.6M$433.3M$436.4M$10.2M
Payments To Acquire Asset Or Businesses Net Of Cash Acquired$247.4M$190.7M$36.4M$181.5M$70.1M$33.2M
Payments to Acquire Businesses, Net of Cash Acquired———$182M$67M—
Payments to Acquire Equity Method Investments$71M$81.3M$168.4M$46.9M$111.1M$192.7M
Payments To Develop Real Estate Assets$781.5M$735.4M$787.3M$704.3M$687.4M$1B
Proceeds from Equity Method Investment, Distribution, Return of Capital$2.4M$0$74.9M$73.2M$5.1M$180K
Proceeds From Issuance Of Common Stock Net$806.2M$920.6M$984K$604.2M$424M$76.8M
Debt issued (Note 13)$980.6M$1.2B$871.3M$997.6M$7.4M$1.6B
Proceeds From Issuance Of Redeemable Preferred Stock$182.9M$182.9M$182.9M$182.9M$182.9M$182.9M
Proceeds from revolver$446.2M$474.2M$466.1M$355.4M$590.4M$390.9M
Financing — other——-$4.2M-$19M-$1.2M-$34M
Transactions involving noncontrolling interests-$2M-$129K-$135K$1.9M-$6.7M$8.6M
Proceeds from disposition of property, plant and equipment/other$5.8M$518.5M$62.1M$1B$82.4M$459.9M
Real Estate Accumulated Depreciation Deductions$102.7M$102.7M$100.7M$100.7M$100.7M$100.7M
Real Estate Acquisitions Through Foreclosures$512.8M$512.8M$1.2B$1.2B$1.2B$1.2B
Real Estate Deductions$449.7M$449.7M$295.2M$295.2M$295.2M$295.2M
Repayments of Lines of Credit$576.3M$522.4M$1B$950.9M$0$628.2M
Repayments of Long-Term Debt$738.9M$502.7M$495.8M$0$754.1M$1.3B
Sec Schedule1228Real Estate Companies Investment In Real Estate Federal Income Tax Basis Difference In Carrying Value——-$1.9B-$1.9B-$1.9B-$1.9B
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation, Depreciation Expense$307.1M$307.1M$438.8M$438.8M$438.8M$438.8M
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period—155K154K——165K
Stock-based compensation, shares issued during period (in shares)—88K67K——68K
Stock Issued During Period Shares Conversion Of Incentive Units—553K4K——175K
Stock Issued During Period Shares Forfeitures And Expirations Of Incentive Units—4K3K——4K
Stock Issued During Period Value Conversion Of Units$0$0————
Straight Lined Rents Amortization Of Below Market Lease And Above Market Lease-$18.3M-$36.5M-$16.6M-$29.5M-$31.6M-$42.1M
Unrecognized tax benefits, settlements——$437.8K$437.8K$437.8K$437.8K
Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions——$5.2M$5.2M$5.2M$5.2M
Additions for tax positions of prior years——$1.4M$1.4M$1.4M$1.4M

Revenue

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Total revenue$1.4B$1.4B$1.4B$1.5B$1.6B$1.6B