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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%

Tax

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Effective Tax Rate Statutory Reconciliation——$0.1$0.1$0.1$0.1
Unrecognized Tax Benefits Current Period Increases——$5.2M$5.2M$5.2M$5.2M
Effective Tax Rate (Continuing Operations)——$0$0$0$0
Effective Tax Rate——$0$0$0$0
Cash Paid for Income Taxes$19.7M$17.8M$43M$29.5M$21.1M$19.4M
Current income tax expense (benefit)——$33.3M$33.3M$33.3M$33.3M
Deferred Foreign Tax Expense (Benefit)——-$25.3M-$25.3M-$25.3M-$25.3M
Effective Tax Rate, Continuing Operations——$0$0$0$0
Income Tax at U.S. Statutory Rate——$70.6M$70.6M$70.6M$70.6M
State and Local Income Taxes, Net——$641K$641K$641K$641K
Current State Tax Expense——$641K$641K$641K$641K
Deferred Foreign Tax Expense——-$25.3M-$25.3M-$25.3M-$25.3M
Effective Income Tax Rate, Continuing Operations——$0$0$0$0
Tax Reconciliation, Federal Statutory Amount——$70.6M$70.6M$70.6M$70.6M
Effective Tax Rate——$0$0$0$0
Current State and Local Tax Expense (Benefit)——$641K$641K$641K$641K
Deferred Foreign Tax Expense (Benefit)——-$25.3M-$25.3M-$25.3M-$25.3M
Effective Tax Rate (Continuing Operations)——$0$0$0$0
Income Taxes Paid, Net$19.7M$17.8M$43M$29.5M$21.1M$19.4M
Current State and Local Tax Expense——$641K$641K$641K$641K
Deferred Foreign Tax Expense——-$25.3M-$25.3M-$25.3M-$25.3M
Income tax expense$12.4M$4.9M$17.1M$12.9M$11.7M—
Effective Tax Rate (Continuing Operations)——$0$0$0$0
Tax Reconciliation at Federal Statutory Rate——$0.1$0.1$0.1$0.1
Current Income Tax Expense——$33.3M$33.3M$33.3M$33.3M
Current State and Local Tax Expense (Benefit)——$641K$641K$641K$641K
Tax Reconciliation - Federal Statutory Rate——$0.1$0.1$0.1$0.1
Effective Tax Rate (Continuing Operations)——$0$0$0$0
Income Taxes Paid, Net$19.7M$17.8M$43M$29.5M$21.1M$19.4M
Effective Income Tax Rate——$0$0$0$0
Statutory Federal Income Tax Rate——$0.1$0.1$0.1$0.1
Current State and Local Tax Expense (Benefit)——$641K$641K$641K$641K
Deferred Foreign Tax Expense (Benefit)——-$25.3M-$25.3M-$25.3M-$25.3M
Effective Tax Rate, Continuing Operations——$0$0$0$0
Current State and Local Tax Expense (Benefit)——$641K$641K$641K$641K
Deferred Foreign Tax Expense (Benefit)——-$25.3M-$25.3M-$25.3M-$25.3M
Income and Other Taxes$19.7M$17.8M$43M$29.5M$21.1M$19.4M
Current State and Local Tax Expense——$641K$641K$641K$641K
Deferred Foreign Tax Expense——-$25.3M-$25.3M-$25.3M-$25.3M
Effective Tax Rate Continuing Operations——$0$0$0$0
Tax Reconciliation Federal Statutory Rate——$0.1$0.1$0.1$0.1

Other Income & Expense

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Other Non-Cash Income (Expense)$0-$28.9M-$9.3M$1.5M$25M$59.3M
Other non-cash income (expense)$0-$28.9M-$9.3M$1.5M$25M$59.3M
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
Equity Method Investment Dividends$10.3M$10.9M$60M$14M$26M$22.4M
Other Charges$37.8M$44.5M$32.8M$37.7M$47.7M$42.8M
Interest expense$123.8M$104.7M$98.5M$109.4M$113.6M$116.5M
Other Non-Cash Income (Expense)$0-$28.9M-$9.3M$1.5M$25M$59.3M
Distributions of earnings from equity method investees$10.3M$10.9M$60M$14M$26M$22.4M
Other Non-cash Income (Expense)$0-$28.9M-$9.3M$1.5M$25M$59.3M
Other Non-Cash Income (Expense)$0-$28.9M-$9.3M$1.5M$25M$59.3M

Net Income

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Net income applicable to common shareholders$41M$179.4M$99.8M$1B$57.6M$88.5M
Net Income Allocated to Common (Diluted)$31.1M$174.8M$93.6M$1B$51.8M$84M
Comprehensive income (loss), including noncontrolling interest$355.3M—$406.5M$1.5B$111.1M$224M
Net earnings to common$41M$179.4M$99.8M$1B$57.6M$88.5M
Net Income Available to Common Stockholders (Diluted)$31.1M$174.8M$93.6M$1B$51.8M$84M
Net income attributable to noncontrolling interests-$11.1M-$3.9M-$3.6M$14.8M-$4.1M—
Common Stock Dividends$408.4M$418.5M$419.6M$422.9M$426M$428.1M
Net Income Available to Common Shareholders$41M$179.4M$99.8M$1B$57.6M$88.5M
OCI Attributable to Parent$315.2M-$664.6M$300.1M$439.6M$47.4M$127.9M
Net income$51.2M$189.6M$110M$1B$67.8M$98.6M
Net income attributable to common stock$41M$179.4M$99.8M$1B$57.6M$88.5M

Other

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Comprehensive Income Including Noncontrolling Interest$355.3M—$406.5M$1.5B$111.1M$224M
Other Comprehensive Income (Loss), Net of Tax$315.2M-$664.6M$300.1M$439.6M$47.4M$127.9M
OCI Attributable to Noncontrolling Interest$72.9M-$143.5M$41.1M$71.2M$33.4M$60.7M
Reclassifications Net of Tax$41M$179.4M$99.8M$1B$57.6M$88.5M
Comprehensive Income Attributable to Parent$355.3M—$406.5M$1.5B$111.1M$224M
OCI Attributable to Parent$315.2M-$664.6M$300.1M$439.6M$47.4M$127.9M
Other Comprehensive Income (Loss), Before Tax$240.8M-$542.5M$262.1M$392.1M$11M$65.5M
Comprehensive Income Including Noncontrolling Interest$355.3M—$406.5M$1.5B$111.1M$224M
Foreign Currency Translation Gains (Losses)$405.8M-$788.1M$286.4M$443.7M$40.7M$127.8M
Income Taxes Paid, Net$19.7M$17.8M$43M$29.5M$21.1M$19.4M
OCI Foreign Currency Gain (Loss) Arising During Period, Net of Tax$405.8M-$788.1M$286.4M$443.7M$40.7M$127.8M
Comprehensive income (loss), including noncontrolling interest$355.3M—$406.5M$1.5B$111.1M$224M
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
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 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 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 (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
Additions for tax positions of prior years——$1.4M$1.4M$1.4M$1.4M
Comprehensive Income (Loss), Total$355.3M—$406.5M$1.5B$111.1M$224M
Cash Flow Hedge Reclassification, After Tax$9.2M$10.4M$8.7M$6M$5.9M$5.5M
Comprehensive Income Attributable to Noncontrolling Interests$72.9M-$143.5M$41.1M$71.2M$33.4M$60.7M
Comprehensive Income, Including Noncontrolling Interest$355.3M—$406.5M$1.5B$111.1M$224M
Currency Translation Adjustment, Net of Tax$405.8M-$788.1M$286.4M$443.7M$40.7M$127.8M
Other Comprehensive Income (Loss)$282.4M—$365.4M$1.4B$77.7M$163.3M
Comprehensive Income Including Noncontrolling Interest$355.3M—$406.5M$1.5B$111.1M$224M
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent$315.2M-$664.6M$300.1M$439.6M$47.4M$127.9M
Total Comprehensive Income$355.3M—$406.5M$1.5B$111.1M$224M
Comprehensive Income, Noncontrolling Interest$72.9M-$143.5M$41.1M$71.2M$33.4M$60.7M
OCI Net of Tax, Parent$315.2M-$664.6M$300.1M$439.6M$47.4M$127.9M

Operating Expenses

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Defined Contribution Plan Cost$2.4M$2.4M$2.6M$2.6M$2.6M$2.6M
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
Defined Contribution Plan Cost$2.4M$2.4M$2.6M$2.6M$2.6M$2.6M
Defined Contribution Plan Cost$2.4M$2.4M$2.6M$2.6M$2.6M$2.6M
Impairment of Goodwill and Purchased Intangible Assets—$22.9M$19.6M$19.6M$19.6M$19.6M
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
Goodwill and indefinite-lived intangible asset impairment—$22.9M$19.6M$19.6M$19.6M$19.6M
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
Incremental Shares from Convertible Debt$67.8K$67.8K$57.3K$57.3K$57.3K$57.3K
Weighted-average shares, basic328M323.3M336.7M337.6M341.4M339.8M
Weighted-average shares, diluted336.2M331.5M344.7M345.7M349.2M347.8M

Income Before Tax

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Income before income taxes——$336.3M$336.3M$336.3M$336.3M
Income (Loss) from Continuing Operations Before Income Taxes, Domestic——$379.6M$379.6M$379.6M$379.6M
Income (Loss) from Continuing Operations Before Income Taxes, Foreign——-$43.3M-$43.3M-$43.3M-$43.3M

Operating Income

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

Revenue

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