DIGITAL REALTY TRUST, INC.

Listed Company

DLR-PKCIK 0001297996NYSELarge AcceleratedReal Estate Investment TrustsMarylandFY ends Dec 31

Period

FY 2025

Revenue

$6.11B

Net Income

$1.31B

Total Assets

$49.41B

Equity

$22.93B

Shares Out

343.62M

Op. Cash Flow

$2.41B

Business

DIGITAL REALTY TRUST, INC. provides global data center, colocation and interconnection solutions through its operating partnership, owning, developing and operating multi-tenant and scale data center facilities. Its main products and services include colocation (cabinet to multi-megawatt deployments), Powered Base Building® for customized builds, connectivity offerings such as cross-connects, Campus and Metro Connect, ServiceFabric™ orchestration, and Critical Facilities Management® operations. Business segments emphasize PlatformDIGITAL® and PDx® solution methodology for cloud-enablement, interconnection and hybrid-IT solutions. The company serves enterprise, cloud and network customers across major metros on six continents through direct leasing, campus expansion and partner networks.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	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
Total operating revenues	6,113	5,555	5,477	4,692	4,428
Rental property operating and maintenance	2,507	2,318	2,382	1,826	1,571
Property taxes and insurance	220	201	216	192	208
Depreciation and amortization	1,895	1,772	1,695	1,578	1,487
General and administrative	565	480	449	422	401
Transactions and integration	185	94	85	69	47
Provision for impairment	79	191	118	3	18
Other	4	27	8	12	3
Total operating expenses	5,454	5,083	4,953	4,102	3,734
Operating income	658	472	524	590	694
Equity in loss of unconsolidated entities	−32	−120	−30	−13	62
Gain on disposition of properties, net	996	596	901	177	1,381
Other income, net	161	154	68	9	−4
Interest expense	−438	−453	−438	−299	−294
Gain (loss) on debt extinguishment and modifications	9,000	−6	—	−51	−19
Income tax expense	−32	−55	−76	−32	−73
Net income	1,313	588	950	380	1,747
Net (income) loss attributable to noncontrolling interests	−5	14	−1	−3	−38
Net income attributable to Digital Realty Trust, L.P.	1,309	602	949	378	1,709
Preferred stock dividends	−41	−41	−41	−41	−46
Net income available to common unitholders	1,268	562	908	337	1,681
Basic (in dollars per share)	3.73	1.74	3.04	1.18	5.95
Diluted (in dollars per share)	3.58	1.61	2.88	1.11	5.94
Basic (in shares)	340	323	299	286	282
Diluted (in shares)	348	332	309	298	283

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	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
Investments in properties, net	26,434	24,121	24,236	23,775	20,762
Investments in unconsolidated entities	3,428	2,640	2,296	1,991	1,808
Net investments in real estate	29,862	26,761	26,532	25,766	22,570
Operating lease right-of-use assets, net	1,136	1,179	1,414	1,351	1,405
Cash and cash equivalents	3,452	3,871	1,625	142	143
Accounts and other receivables, net	1,359	1,257	1,278	969	672
Deferred rent, net	751	642	624	602	547
Goodwill	9,712	8,929	9,240	9,208	7,937
Customer relationship value, deferred leasing costs and other intangibles, net	2,135	2,178	2,500	3,093	2,735
Assets held for sale and contribution	350	—	—	—	—
Other assets	655	466	420	354	359
Total assets	49,410	45,284	44,113	41,485	36,370
Global revolving credit facilities, net	899	1,611	1,812	2,150	398
Unsecured term loans, net	440	387	1,560	797	—
Unsecured senior notes, net of discount	16,194	13,963	13,422	13,120	12,903
Secured and other debt, net of discount	869	753	631	529	147
Operating lease liabilities	1,253	1,294	1,542	1,471	1,512
Accounts payable and other accrued liabilities	2,601	2,056	2,169	1,869	1,544
Deferred tax liabilities	1,125	1,085	1,151	1,193	666
Accrued dividends and distributions	428	419	388	364	339
Security deposits and prepaid rents	755	540	402	370	337
Obligations associated with assets held for sale and contribution	182,000	—	—	—	—
Total liabilities	24,564	22,108	23,117	21,863	17,846
Redeemable noncontrolling interests	1,499	1,433	1,395	1,515	47
Commitments and contingencies	—	—	—	—	—
Preferred Stock: $0.01 par value per share, 110,000 shares authorized; $755,000 liquidation preference ($25.00 per share), 30,200 shares issued and outstanding as of December 31, 2025 and December 31, 2024	732	732	732	732	732
Common Stock: $0.01 par value per share, 502,000 shares authorized; 343,557 and 336,637 issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	3	3	3	3	3
Additional paid-in capital	29,350	28,080	24,397	22,143	21,076
Accumulated dividends in excess of earnings	−6,691	−6,292	−5,263	−4,698	−3,632
Accumulated other comprehensive loss, net	−469	−1,182	−751	−596	−174
Total stockholders' equity	22,926	21,340	19,118	17,583	18,005
Noncontrolling interests	421	402	484	524	472
Total equity	23,347	21,743	19,602	18,107	18,477
Total liabilities and equity	49,410	45,284	44,113	41,485	36,370

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	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
Gain on disposition of properties, net	−996	−596	−901	−177	−1,381
Distributions from unconsolidated entities	122	78	74	42	66
Amortization of share-based compensation	94	76	81	92	84
(Gain) loss on debt extinguishment and modifications	−9,000	6	—	51	19
Straight-lined rents and amortization of above and below market leases	−120	−56	−51	−65	−31
Amortization of deferred financing costs and debt discount / premium	32	29	27	19	19
Other operating activities, net	−76	29	−8	−45	81
Increase in accounts receivable and other assets	−339	−342	−155	−272	−389
Increase in accounts payable and other liabilities	376	367	−224	42	62
Net cash provided by operating activities	2,412	2,261	1,635	1,659	1,702
Improvements to investments in real estate	−3,181	−2,832	−3,526	−2,643	−2,521
Cash paid for business combination / asset acquisitions, net of cash acquired	−321	−508	−52	—	—
Investments in and advances to unconsolidated entities	−519	−316	−336	—	—
Return of investment from unconsolidated entities	153	100	242	3	62
Proceeds from sale of assets	1,620	1,765	2,620	272	—
Other investing activities, net	18	−115	−63	−102	−43
Net cash used in investing activities	−2,230	−1,906	−1,115	−4,699	−1,062
Proceeds from credit facilities	1,803	1,636	2,871	5,510	2,521
Payments on credit facilities	−2,587	−1,715	−3,294	−3,820	−2,611
Borrowings on secured / unsecured debt	3,489	2,235	869	2,791	1,824
Repayments on secured / unsecured debt	−2,514	−2,119	−112	−1,037	−991
Capital (distribution to) contributions from noncontrolling interests, net	4	−21	4	44	124
Proceeds from issuance of common stock, net	1,106	3,651	2,207	928	172
Payments of dividends and distributions	−1,728	−1,633	−1,521	−1,451	−1,379
Other financing activities, net	−58	30	−62	52	−34
Net cash (used in) provided by financing activities	−487	2,063	963	2,969	−591
Net (decrease) increase in cash, cash equivalents and restricted cash	−305	2,419	1,483	−71	50
Effect of exchange rate changes on cash, cash equivalents and restricted cash	−113	−179	3	70	−22

Filings

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