GDSNasdaqServices-Computer Programming, Data Processing, Etc.Also trades as GDHLF

GDS Holdings Ltd

Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 29, 2026

$22.47−0.61 (-2.64%)

Close on Oct 19, 2026

GDS Holdings Ltd income statement

Annual Quarterly TTM

CNY USD

Millions of USD, except per-share data. Shares in millions.

Line item	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31	FY 2019 2019-12-31	FY 2018 2018-12-31	FY 2017 2017-12-31	FY 2016 2016-12-31	FY 2015 2015-12-31	FY 2014 2014-12-31
Revenue	1,591	1,434	1,382	1,377	1,212	831	597	422	239	159	112	76
Cost of Revenue	1,231	1,126	1,106	1,087	936	607	446	328	179	119	82	63
Gross Profit	360	309	276	290	276	225	151	94	60	40	30	13
Research & Development	4.55	5.05	5.39	4.74	6.10	5.80	3.13	2.11	1.07	1.37	0.57	0.26
Selling, General & Admin	146	144	156	177	181	121	78	67	47	45	30	25
Selling & Marketing	21	16	20	22	23	20	19	17	13	11	9.17	6.58
General & Administrative	125	128	136	156	158	102	60	50	34	34	20	18
Advertising Expenses	–	–	1.33	1.28	2.33	2.14	1.08	0.96	1.51	1.35	0.66	0.38
Operating Income	-7.76	160	-312	106	88	97	69	25	12	-6.38	-0.19	-12
Interest Expense	249	267	273	279	257	191	140	99	61	40	20	21
Interest & Investment Income	21	12	13	6.28	7.82	4.20	7.67	2.91	0.83	0.31	0.22	1.13
Income from Equity Investments	100	-0.05	0.02	-1.48	-0.15	-0.49	-0.18	–	–	–	–	–
Other Non-Operating Income	1.00	3.03	3.58	0.78	-0.24	0.72	0.81	0.82	0.06	0.04	0.19	-0.07
Asset Impairment Charges	0	0	0	0	0	0	0	0	0	0	0	0
Gain (Loss) on Sale of Assets	5.37	4.40	1.70	2.23	0.27	0.04	0.10	-0.33	–	0.01	–	0.01
Pretax Income	99	-85	-557	-123	-147	-79	-62	-67	-49	-43	-18	-22
Income Tax Expense	65	22	-2.20	41	38	17	2.27	-1.42	-0.90	-1.25	-1.91	-0.74
Income from Continuing Operations	132	-108	-555	-165	–	–	–	–	–	–	–	–
Income from Discontinued Operations	–	566	-51	-24	–	–	–	–	–	–	–	–
Net Income incl. Noncontrolling Interests	133	459	-605	-188	-185	-97	-64	-65	-48	-42	-16	–
Net Income	132	476	-606	-189	-184	-97	-64	-65	-48	-42	-16	-21
Preferred Dividends	7.56	7.54	7.57	7.61	7.61	7.63	5.84	–	–	50	1.13	0.57
Net Income to Common	125	465	-613	-224	-204	-107	-72	-65	-48	-61	-34	-50
EPS (Basic)(per share)	0.08	0.32	-0.42	-0.15	-0.14	-0.09	-0.07	-0.07	-0.06	-0.20	-0.16	-0.31
EPS (Diluted)(per share)	0.08	0.32	-0.42	-0.15	-0.14	-0.09	-0.07	-0.07	-0.06	-0.20	-0.16	-0.31
Shares Outstanding (Basic, Weighted)(shares)	1,521	1,475	1,468	1,464	1,453	1,254	1,103	990	785	299	218	162
Shares Outstanding (Diluted, Weighted)(shares)	1,645	1,475	1,468	1,464	1,453	1,254	1,103	990	785	299	218	162
EBITDA	474	611	164	570	494	335	235	138	68	28	23	1.14

Italic numbers are calculated by StockData (for example Q4 = full year − nine months). Per-share data and share counts are adjusted for stock splits. Hover a number for its source; click it to open the filing on SEC.gov. Click a row to chart it.

Ratios

Latest available, balances at Dec 31, 2025

Profitability, FY2025

Gross margin: 22.6%
Operating margin: -0.5%
Net margin: 8.3%
Return on equity, FY2025: 3.9%

Financial strength

Current ratio: 2.60
Debt to equity: 1.02
Debt to assets: 32.9%
Cash to current liabilities: 200.7%

Valuation

P/E ratio: –
Price to sales: –
Price to book: –
Dividend yield: –

Valuation ratios need the share price and fill in once daily prices are connected.