DLR Digital Realty Trust, Inc. Common Stock
NYSE · Real Estate · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Jul 31, 2026
$178.55
· of 52w range
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$146.2352w low
$208.1452w high
Market Cap (MRQ)
$66.07B
P/E (TTM)
87.5
EPS (TTM)
$2.04
Revenue (TTM)
$6.77B
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52W Range
$146–$208
Analyst Rating
BUY
Price Target
$223
P/E
87.5
ROE
3.2%
Net Profit Margin
11.8%
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DLR Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$178.55
Market Cap (MRQ)
$66.07B
P/E (TTM)
87.5
EPS (TTM)
$2.04
Revenue (TTM)
$6.77B
Div Yield
2.8%
ROE (TTM)
3.2%
52W Range
$146–$208
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About Digital Realty Trust, Inc. Common Stock Company overview from Wikipedia
Digital Realty is a real estate investment trust that owns, operates, and invests in carrier-neutral data centers across the world. The company offers data center, colocation, and interconnection services. It was formed in 2004 by GI Partners. As of June 2023, Digital Realty has over 300 facilities in more than 25 countries.
The company is a signatory of the Climate Neutral Data Center Pact (CNDCP), a self-regulatory initiative – drawn up with the European Data Center Association (EUDCA) and Cloud Infrastructure Services Provider in Europe (CISPE) – designed to make the industry climate-neutral by 2030.
Digital Realty is working to switch to renewable power. The company has 1 GW of wind and solar projects under contract in Texas, Illinois, North Carolina, Oregon, Arizona, and Virginia and has installed 1.8 MW of solar panels in Kenya, Greece, Switzerland, and South Korea. The company says it avoided emitting 1.8 million metric tons of CO2-equivalent emissions (MtCO2e) in 2022.
History
The company was formed in 2004 by GI Partners, which contributed 21 data centers that it acquired through bankruptcy auctions and from distressed companies at a 20%–40% discount to replacement cost. On November 4, 2004, the company became a public company via an initial public offering. At that time, the company owned 23 properties comprising 5.6 million square feet.
In August 2006, the company acquired a property in Phoenix, Arizona, for $175 million. By March 2007, GI Partners had sold all of its shares in the company.
2010s
In January 2010, the company acquired three data centers in Massachusetts and Connecticut for $375 million.
In January 2012, the company acquired a 334,000-square-foot data center near Hartsfield-Jackson Atlanta International Airport for $63 million in a leaseback transaction. That same month, the company also acquired a data center in San Francisco for $85 million.
In April 2013, the company acquired the data center of Delta Air Lines in Eagan, Minnesota, for $37 million in a leaseback transaction. In July 2013, the company doubled capacity at its data center in Chandler, Arizona.
In May 2015, the company sold a building in Philadelphia for $161 million that it had acquired in 2005 for $59 million. In October 2015, the company acquired Telx for $1.886 billion. In November 2015, the company acquired 125.9 acres of undeveloped land in Loudoun County, Virginia, for $43 million and announced plans to build a 2 million-square-foot data center on the property.
In July 2016, the company acquired eight data centers in Europe from Equinix for $874 million.
In March 2017, the company announced a $22 million expansion of its data center in Atlanta. In September 2017, the company completed the acquisition of DuPont Fabros Technology.
In 2018, the Supreme Court ruled in favor of the company in Digital Realty Trust, Inc. v. Somers, a case in which Digital Realty fired an employee who had complained internally about the elimination of supervisory controls and the hiding of cost overruns. After he was fired, the employee sued the company, saying he was protected by whistleblower provisions in Dodd-Frank. The Supreme Court, citing Dodd-Frank, ruled that these protections only applied to whistleblowers who had first notified the SEC.
Also in 2018, Digital Realty earned the U.S. Environmental Protection Agency's (EPA's) ENERGY STAR certification for energy performance in 24 of its data centers. In December 2018, the company acquired Ascenty for $1.8 billion. At the time, Ascenty operated eight data centers in Brazil.
In October 2019, Digital Realty announced the acquisition of European data center provider Interxion for $8.4 billion to "create a leading global provider of data centre, colocation and interconnection solutions".
2020s
In 2020, Digital Realty joined the Science-Based Target Initiative (SBTi), promising to reduce its Scope 1 and 2 emissions by 68% and Scope 3 emissions by 24% between 2018 and 2030.
In January 2021, Digital Realty said it would move its headquarters to Austin, Texas.
In October 2021, the company entered the West African market by acquiring a controlling stake in Medallion Communications, a leading carrier-neutral data center operator in Nigeria.
In January 2022, the company announced a 55% stake acquisition in Teraco Data Centres.
In July 2023, Digital Realty received a Certificate of Conformity, certifying its adherence to the Self-Regulatory Initiatives set out by the CNDCP in Europe.
On 10 September 2024, about 7:45 am, a Digital Realty data centre in Loyang, Singapore, caught fire. According to the Singapore Civil Defence Force, the fire "involved lithium-ion batteries housed in battery rooms on the third floor of a four-storey building". Digital Realty said its employees were evacuated from the data centre without injuries. The fire affected Lazada and Bytedance's systems, as well as Alibaba Cloud's Availability zone C in Singapore, and possibly DigitalOcean, Coolify, and Cloudflare.
In May 2026, the company opened its first data center in Barcelona, Spain, broke ground on a data center in Paris, France, and launched a new liquid cooling lab in London, UK. That same month, it was also announced that Mistral AI had signed a capacity agreement with Digital Realty.
In June 2026, it was reported that Digital Realty was buying venture capital firm Columbia Capital for about $485 million.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
sectorReal Estate
industryReal Estate
employees4,282
countryUS
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$6.11B2016-12-31 → 2025-12-31
EPS$3.582016-12-31 → 2025-12-31
Net margin11.8%2016-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | DLR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 87.55Y avg ≈64.0 | ≈64.0 | · | · | |
| P/S (TTM) | 9.85Y avg ≈8.9 | ≈8.9 | · | · | |
| P/B (MRQ) | 2.45Y avg ≈2.4 | ≈2.4 | 4.0 | Undervalued | |
| Price / Cash Flow | 25.45Y avg ≈24.2 | ≈24.2 | · | · | |
| Price / Tangible Book | 5.45Y avg ≈4.6 | ≈4.6 | · | · | |
| PEG Ratio | ≈3.0 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | DLR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | 14.6%5Y avg ≈11.4% | ≈11.4% | · | · | |
| EBITDA Margin | 10.8%5Y avg ≈11.4% | ≈11.4% | · | · | |
| Pretax Margin | 22.0% | · | · | · | |
| Net Profit Margin (TTM) | 11.8%5Y avg ≈19.2% | ≈19.2% | · | · | |
| ROA (TTM) | 1.5%5Y avg ≈2.4% | ≈2.4% | · | · | |
| ROE (TTM) | 3.2%5Y avg ≈5.2% | ≈5.2% | · | · | |
| ROIC | 2.8% | · | · | · |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | DLR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Interest Coverage | 1.55Y avg ≈1.6 | ≈1.6 | · | · |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | DLR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 10.0%5Y avg ≈9.5% | ≈9.5% | · | · | |
| Revenue CAGR 3Y | 9.2%5Y avg ≈9.7% | ≈9.7% | · | · | |
| Revenue CAGR 5Y | 9.4% | · | · | · | |
| EPS YoY | 122.4%5Y avg ≈130.1% | ≈130.1% | · | · | |
| Net Income YoY | 117.2%5Y avg ≈106.7% | ≈106.7% | · | · | |
| EPS CAGR 3Y | 47.8%5Y avg ≈18.2% | ≈18.2% | · | · | |
| EPS CAGR 5Y | 29.1% | · | · | · | |
| Net Income CAGR 3Y | 51.3%5Y avg ≈20.2% | ≈20.2% | · | · | |
| Net Income CAGR 5Y | 29.7% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | DLR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.15Y avg ≈0.1 | ≈0.1 | · | · | |
| Revenue / Employee | ≈$1.4M | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield2.8%
Payout Ratio132.1%
Annualized Payout≈$4.88
5Y Div CAGR≈1.7%
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Sep 15, 2026 | $1.22 | USD | ≈2.7% |
| Jun 15, 2026 | $1.22 | USD | ≈2.6% |
| Mar 13, 2026 | $1.22 | USD | ≈2.7% |
| Dec 15, 2025 | $1.22 | USD | ≈3.2% |
| Sep 15, 2025 | $1.22 | USD | ≈2.8% |
| Jun 13, 2025 | $1.22 | USD | ≈2.8% |
| Mar 14, 2025 | $1.22 | USD | ≈3.3% |
| Dec 13, 2024 | $1.22 | USD | ≈2.6% |
| Sep 13, 2024 | $1.22 | USD | ≈3.1% |
| Jun 14, 2024 | $1.22 | USD | ≈3.3% |
| Mar 14, 2024 | $1.22 | USD | ≈3.4% |
| Dec 14, 2023 | $1.22 | USD | ≈3.7% |
| Sep 14, 2023 | $1.22 | USD | ≈3.8% |
| Jun 14, 2023 | $1.22 | USD | ≈4.6% |
| Mar 14, 2023 | $1.22 | USD | ≈4.6% |
| Dec 14, 2022 | $1.22 | USD | ≈4.7% |
| Sep 14, 2022 | $1.22 | USD | ≈4.2% |
| Jun 14, 2022 | $1.22 | USD | ≈3.8% |
| Mar 14, 2022 | $1.22 | USD | ≈3.5% |
| Dec 14, 2021 | $1.16 | USD | ≈2.8% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
102.1%
Next Report
Oct 21, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Jul 22, 2026 | $0.71 | $0.50 | 41.4% |
| March 31, 2026 | $0.47 | $0.47 | 0.02% | |
| Dec. 31, 2025 | $0.24 | $0.32 | -25.0% | |
| Sept. 30, 2025 | $0.15 | $0.33 | -55.1% | |
| June 30, 2025 | $2.94 | $0.39 | 658.5% | |
| March 31, 2025 | $0.27 | $0.29 | -7.4% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.11B | $5.55B | $5.48B | $4.69B | $4.43B | $3.90B | $3.21B | $3.05B | $2.46B | $2.14B | $1.76B | $1.62B | |
| SG&A Expense | $565M | $480M | $449M | $422M | $401M | $351M | $211M | $164M | $161M | $153M | $106M | $93M | |
| Operating Expenses | $5.45B | $5.08B | $4.95B | $4.10B | $3.73B | $3.35B | $2.62B | $2.50B | $2.01B | $1.64B | $1.36B | $1.36B | |
| Operating Income | $658M | $472M | $524M | $590M | $694M | $558M | $594M | $550M | $451M | $497M | $402M | $259M | |
| Interest Expense | $438M | $453M | $438M | $299M | $294M | $333M | $353M | $322M | $259M | $236M | $201M | $191M | |
| Interest Income | · | · | · | · | · | · | · | · | · | · | $-2M | $3M | |
| Other Non-op | $161M | $154M | $68M | $9M | $-4M | $20M | $66M | $3M | $4M | $-5M | $-2M | $3M | |
| Pretax Income | $1.35B | · | · | · | · | · | · | · | · | · | · | · | |
| Income Tax | $32M | $55M | $76M | $32M | $73M | $38M | $12M | $2M | $8M | $10M | $6M | $5M | |
| Net Income | $1.31B | $602M | $949M | $378M | $1.71B | $356M | $580M | $331M | $248M | $426M | $297M | $200M | |
| EPS (Basic) | $3.73 | $1.74 | $3.04 | $1.18 | $5.95 | $1.01 | $2.37 | $1.21 | $0.99 | $2.21 | $1.57 | $1.00 | |
| EPS (Diluted) | $3.58 | $1.61 | $2.88 | $1.11 | $5.94 | $1.00 | $2.35 | $1.21 | $0.99 | $2.20 | $1.56 | $0.99 | |
| Shares (Basic) | 339,807,000 | 323,336,000 | 298,603,000 | 286,334,000 | 282,475,000 | 260,099 | 208,325,823 | 206,035,408 | 174,059,386 | 149,953,662 | 138,247,606 | 133,369,047 | |
| Shares (Diluted) | 347,810,000 | 331,547,000 | 309,065,000 | 297,919,000 | 283,222,000 | 262,523 | 209,462,247 | 206,673,471 | 174,895,098 | 150,679,688 | 138,865,421 | 133,637,235 | |
| EBITDA | $658M | $472M | $524M | $590M | $694M | $558M | $594M | $550M | $451M | $497M | $402M | $259M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $3.45B | $3.87B | $1.63B | $142M | $143M | $109M | $90M | $127M | $51.0K | $11M | $57M | $35M | |
| Goodwill | $9.71B | $8.93B | $9.24B | $9.21B | $7.94B | $8.33B | $3.36B | $4.35B | $3.39B | $753M | $331M | $0 | |
| Intangibles | $1.81B | $1.94B | · | · | · | · | · | · | · | · | · | $228M | |
| Total Assets | $49.41B | $45.28B | $44.11B | $41.48B | $36.37B | $36.08B | $23.07B | $23.77B | $21.40B | $12.19B | $11.42B | $9.53B | |
| Deferred Tax | $1.12B | $1.08B | $1.15B | $1.19B | $666M | $698M | $147M | · | · | · | · | · | |
| Total Liabilities | $24.56B | $22.11B | $23.12B | $21.86B | $17.85B | $17.59B | $12.42B | $12.89B | $10.30B | $7.06B | $6.88B | $5.61B | |
| Common Stock | $3M | $3M | $3M | $3M | $3M | $3M | $2M | $2M | $2M | $2M | $1M | $1M | |
| Paid-in Capital | $29.35B | $28.08B | $24.40B | $22.14B | $21.08B | $20.63B | $11.58B | $11.36B | $11.26B | $5.76B | $4.66B | $3.97B | |
| Retained Earnings | $-6.69B | $-6.29B | $-5.26B | $-4.70B | $-3.63B | $-4.00B | $-3.05B | $-2.63B | $-2.06B | $-1.55B | $-1.35B | · | |
| AOCI | $-469M | $-1.18B | $-751M | $-596M | $-174M | $135M | $-88M | $-116M | $-108M | $-136M | $-97M | $-45M | |
| Stockholders' Equity | $22.93B | $21.34B | $19.12B | $17.58B | $18.00B | $17.72B | $9.88B | $9.86B | $10.35B | $5.10B | $4.50B | $3.88B | |
| Liabilities + Equity | $49.41B | $45.28B | $44.11B | $41.48B | $36.37B | $36.08B | $23.07B | $23.77B | $21.40B | $12.19B | $11.42B | $9.53B | |
| Shares Outstanding | 343,557,000 | 336,637 | 311,608,000 | 291,148,000 | 284,415,000 | 280,289,726 | 208,900,758 | 206,425,656 | 205,470,300 | 159,019,118 | 146,384,247 | 135,626,255 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $1.89B | $1.77B | $1.69B | $1.58B | $1.49B | $1.37B | $1.16B | $1.19B | $842M | $699M | $571M | $539M | |
| Deferred Tax | $-101M | · | · | · | · | · | · | · | · | · | · | · | |
| Amort. of Intangibles | · | · | · | · | · | $356M | $354M | $417M | $247M | $181M | $106M | $82M | |
| Operating Cash Flow | $2.41B | $2.26B | $1.63B | $1.66B | $1.70B | $1.71B | $1.51B | $1.39B | $1.02B | $911M | $797M | $656M | |
| Investing Cash Flow | $-2.23B | $-1.91B | $-1.12B | $-4.70B | $-1.06B | $-2.60B | $-275M | $-3.04B | $-1.36B | $-1.30B | $-2.53B | $-644M | |
| Debt Issued | $3.49B | $2.23B | $869M | $2.79B | $1.82B | $3.57B | $2.87B | · | · | · | · | · | |
| Net Debt Issued | $975M | $116M | $757M | $1.75B | $833M | · | · | · | · | · | · | · | |
| Stock Issued | · | · | · | · | · | · | · | · | $405M | $1.09B | $919M | $0 | |
| Net Stock Activity | · | · | · | · | · | · | · | · | $405M | $1.09B | $676M | $0 | |
| Dividends Paid | $1.73B | $1.63B | $1.52B | $1.45B | $1.38B | $1.24B | $997M | $849M | $646M | $522M | $469M | $442M | |
| Financing Cash Flow | $-487M | $2.06B | $963M | $2.97B | $-591M | $936M | $-1.27B | $1.76B | $321M | $351M | $1.75B | $-27M | |
| Net Change in Cash | · | · | · | · | · | · | · | · | · | · | $22M | $-15M | |
| Taxes Paid | $113M | $71M | $89M | $42M | $30M | $20M | $15M | · | · | · | · | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 10.8% | 8.5% | 9.6% | 12.6% | 15.7% | 14.3% | 18.5% | 18.1% | 18.4% | 23.2% | 22.8% | 16.0% | |
| Net Margin | 21.4% | 10.8% | 17.3% | 8.1% | 38.6% | 9.1% | 18.1% | 10.9% | 10.1% | 19.9% | 16.8% | 12.4% | |
| Pretax Margin | 22.0% | · | · | · | · | · | · | · | · | · | · | · | |
| EBITDA Margin | 10.8% | 8.5% | 9.6% | 12.6% | 15.7% | 14.3% | 18.5% | 18.1% | 18.4% | 23.2% | 22.8% | 16.0% | |
| ROA | 2.8% | 1.4% | 2.2% | 0.97% | 4.7% | 1.2% | 2.5% | 1.5% | 1.5% | 3.6% | 2.8% | 2.1% | |
| ROE | 5.9% | 3.0% | 5.2% | 2.1% | 9.6% | 2.6% | 5.9% | 3.3% | 3.2% | 8.9% | 7.1% | 5.3% | |
| ROIC | 2.8% | · | · | · | · | · | · | · | · | · | · | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Coverage | 1.5 | 1.0 | 1.2 | 2.0 | 2.4 | 1.7 | 1.7 | 1.7 | 1.7 | 2.1 | 2.0 | 1.4 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 | 0.2 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $66.73 | $63.39 | $61.35 | $60.39 | $63.30 | $63.21 | $47.29 | $47.76 | $50.37 | $32.05 | $30.74 | $28.60 | |
| Revenue / Share | $17.57 | $16.75 | $17.72 | $15748.69 | $15.63 | $14.87 | $15.32 | $14.74 | $14.05 | $14.22 | $12.70 | $12.10 | |
| Cash Flow / Share | $6.94 | $6.82 | $5.29 | $5569.93 | $6.01 | $6.50 | $7.23 | $6.70 | $5.85 | $6.05 | $5.76 | $4.91 | |
| Cash / Share | $10.05 | $11.50 | $5.22 | $0.49 | $0.50 | $0.39 | $0.43 | $0.61 | $0.00 | $0.07 | $0.39 | $0.30 | |
| EPS (TTM) | $3.58 | $1.61 | $2.88 | $1.11 | $5.94 | $1.00 | $2.35 | $1.21 | $0.99 | $2.20 | $1.56 | $0.99 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 10.0% | 1.4% | 16.7% | 6.0% | 13.4% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 9.2% | 7.8% | 11.9% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 9.4% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 122.4% | -44.1% | 159.5% | -81.3% | 494.0% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 47.8% | -35.3% | 42.3% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 29.1% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 117.2% | -36.5% | 151.2% | -77.9% | 379.6% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 51.3% | -29.4% | 38.6% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 29.7% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividends Paid CAGR 5Y | 6.9% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $6.11B | $5.55B | $5.48B | $4.69B | $4.43B | $3.90B | $3.21B | $3.05B | $2.46B | $2.14B | $1.76B | $1.62B | |
| Net Income TTM | $1.31B | $602M | $949M | $378M | $1.71B | $356M | $580M | $331M | $248M | $426M | $297M | $200M | |
| Market Cap | $53.15B | $59.70B | $41.94B | $29.19B | $50.30B | $39.10B | $25.01B | $21.99B | $23.40B | $15.63B | $11.07B | $8.99B | |
| P/E | 43.2 | 110.1 | 46.7 | 90.3 | 29.8 | 139.5 | 51.0 | 88.1 | 115.1 | 44.7 | 48.5 | 67.0 | |
| P/S | 8.7 | 10.7 | 7.7 | 6.2 | 11.4 | 10.0 | 7.8 | 7.2 | 9.5 | 7.3 | 6.3 | 5.6 | |
| P/B | 2.3 | 2.8 | 2.2 | 1.7 | 2.8 | 2.2 | 2.5 | 2.2 | 2.3 | 3.1 | 2.5 | 2.3 | |
| P / Tangible Book | 4.7 | 5.7 | 4.2 | 3.5 | 5.0 | 4.2 | · | · | · | · | · | · | |
| P / Cash Flow | 22.0 | 26.4 | 25.7 | 17.6 | 29.6 | 22.9 | 16.5 | 15.9 | 22.9 | 17.1 | 13.9 | 13.7 | |
| Dividend Yield | 3.2% | 2.7% | 3.6% | 5.0% | 2.7% | 3.2% | 4.0% | 3.9% | 2.8% | 3.3% | 4.2% | 4.9% | |
| Earnings Yield | 2.3% | 0.91% | 2.1% | 1.1% | 3.4% | 0.72% | 2.0% | 1.1% | 0.87% | 2.2% | 2.1% | 1.5% | |
| Payout Ratio | 132.1% | 271.1% | 160.3% | 384.1% | 80.7% | 326.3% | 159.0% | 256.4% | 260.4% | 122.4% | 157.9% | 220.7% | |
| Annual Payout | $1.73B | $1.63B | $1.52B | $1.45B | $1.38B | $1.24B | $997M | $849M | $646M | $522M | $469M | $442M |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.92B | $1.64B | $1.63B | $1.58B | $1.49B | $1.41B | $1.44B | $1.43B | $1.36B | $1.33B | $1.37B | $1.40B | $1.37B | $1.34B | $1.23B | $1.19B | |
| SG&A Expense | $158M | $155M | $164M | $142M | $136M | $124M | $127M | $118M | $120M | $115M | $117M | $111M | $110M | $112M | $120M | $97M | |
| Operating Expenses | $1.46B | $1.37B | $1.52B | $1.44B | $1.28B | $1.21B | $1.29B | $1.26B | $1.35B | $1.18B | $1.24B | $1.34B | $1.21B | $1.16B | $1.11B | $1.03B | |
| Operating Income | $467M | $268M | $113M | $138M | $1.14B | $197M | $144M | $168M | $10M | $149M | $134M | $58M | $155M | $177M | $121M | $157M | |
| Interest Expense | $114M | $116M | $117M | $114M | $109M | $98M | $105M | $124M | $115M | $110M | $114M | $111M | $111M | $102M | $87M | $77M | |
| Other Non-op | $138M | $45M | $43M | $48M | $38M | $33M | $45M | $38M | $62M | $10M | $50M | $25M | $-7M | $280.0K | $-23M | $16M | |
| Income Tax | $34M | $16M | $-10M | $12M | $13M | $17M | $5M | $12M | $15M | $22M | $21M | $17M | $16M | $21M | $-18M | $20M | |
| Net Income | $453M | $179M | $99M | $68M | $1.03B | $110M | $190M | $51M | $80M | $282M | $28M | $734M | $118M | $69M | $4M | $237M | |
| EPS (Basic) | $1.25 | $0.49 | $0.23 | $0.17 | $3.03 | $0.30 | $0.52 | $0.13 | $0.22 | $0.87 | $0.07 | $2.40 | $0.37 | $0.20 | $-0.02 | $0.79 | |
| EPS (Diluted) | $1.21 | $0.46 | $0.22 | $0.15 | $2.94 | $0.27 | $0.50 | $0.09 | $0.20 | $0.82 | $0.03 | $2.31 | $0.34 | $0.20 | $-0.05 | $0.75 | |
| Shares (Basic) | 354,118,000 | 345,013,000 | · | 341,370,000 | 337,589,000 | 336,683,000 | · | 327,977,000 | 319,537,000 | 312,292,000 | · | 301,827,000 | 295,390,000 | 291,219,000 | · | 286,693,000 | |
| Shares (Diluted) | 361,542,000 | 353,254,000 | · | 349,234,000 | 345,734,000 | 344,721,000 | · | 336,249,000 | 327,946,000 | 320,798,000 | · | 311,341,000 | 306,819,000 | 303,065,000 | · | 296,415,000 | |
| EBITDA | $467M | $268M | · | $138M | $212M | $196M | · | $168M | $10M | $149M | · | $58M | $155M | $177M | · | $157M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.86B | $2.43B | $3.45B | $3.30B | $3.55B | $2.32B | $3.87B | $2.18B | $2.28B | $1.19B | $1.63B | $1.06B | $125M | $131M | $142M | $177M | |
| Goodwill | $9.59B | $9.59B | $9.71B | $9.65B | $9.64B | $9.17B | $8.93B | $9.40B | $9.13B | $9.11B | $9.24B | $9.00B | $9.15B | $9.20B | $9.21B | $8.73B | |
| Intangibles | · | $1.73B | $1.81B | $1.86B | $1.94B | $1.89B | $1.94B | · | · | · | · | · | · | · | · | · | |
| Total Assets | $54.52B | $48.86B | $49.41B | $48.73B | $48.71B | $45.08B | $45.28B | $45.30B | $43.61B | $42.63B | · | $41.93B | $42.39B | $41.95B | · | $39.22B | |
| Deferred Tax | $1.12B | $1.09B | $1.12B | $1.15B | $1.14B | $1.11B | $1.08B | $1.22B | $1.13B | $1.12B | · | $1.09B | $1.13B | $1.16B | · | $1.15B | |
| Total Liabilities | $24.97B | $23.46B | $24.56B | $23.74B | $23.85B | $21.90B | $22.11B | $22.12B | $21.20B | $21.79B | · | $21.90B | $22.92B | $22.80B | · | $20.23B | |
| Common Stock | $4M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | · | $3M | $3M | $3M | · | $3M | |
| Paid-in Capital | $34.16B | $30.09B | $29.35B | $29.18B | $28.72B | $28.09B | $28.08B | $27.23B | $26.39B | $24.51B | · | $23.24B | $22.88B | $22.13B | · | $21.53B | |
| Retained Earnings | $-6.94B | $-6.95B | $-6.69B | $-6.36B | $-6.00B | $-6.60B | $-6.29B | $-6.06B | $-5.70B | $-5.37B | · | $-4.90B | $-5.25B | $-5.00B | · | $-4.34B | |
| AOCI | $-522M | $-513M | $-469M | $-534M | $-544M | $-927M | $-1.18B | $-657M | $-885M | $-850M | · | $-883M | $-741M | $-652M | · | $-863M | |
| Stockholders' Equity | $27.43B | $23.37B | $22.93B | $23.03B | $22.91B | $21.30B | $21.34B | $21.25B | $20.54B | $19.02B | · | $18.19B | $17.62B | $17.21B | · | $17.06B | |
| Liabilities + Equity | $54.52B | $48.86B | $49.41B | $48.73B | $48.71B | $45.08B | $45.28B | $45.30B | $43.61B | $42.63B | · | $41.93B | $42.39B | $41.95B | · | $39.22B | |
| Shares Outstanding | 370,010,000 | 348,924,000 | 343,557,000 | 343,041,000 | 340,372,000 | 336,743,000 | 336,637 | 331,347,000 | 325,885,000 | 312,421,000 | · | 302,846,000 | 299,240,000 | 291,299,000 | · | 287,508,000 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $507M | $500M | $493M | $497M | $461M | $443M | $455M | $460M | $425M | $431M | $420M | $421M | $433M | $421M | $430M | $389M | |
| Operating Cash Flow | $1.06B | $532M | $719M | $653M | $641M | $399M | $769M | $567M | $573M | $352M | $462M | $358M | $464M | $350M | $456M | $419M | |
| Investing Cash Flow | $-2.91B | $-1.33B | $-759M | $-730M | $161M | $-903M | $-512M | $-1.12B | $-282M | $7M | $-1.02B | $1.18B | $-530M | $-749M | $-971M | $-2.30B | |
| Debt Issued | $285.0K | $39M | $1.61B | $7M | $998M | $871M | $1.21B | $981M | $41M | $6M | $41M | $22M | $15M | $791M | $364M | $1.30B | |
| Net Debt Issued | · | $-18M | · | · | · | $375M | · | · | · | $-234M | · | · | · | $788M | · | · | |
| Dividends Paid | $454M | $871M | $10M | $436M | $433M | $849M | $10M | $419M | $416M | $789M | $10M | $388M | $384M | $738M | $10M | $369M | |
| Financing Cash Flow | $1.20B | $-218M | $152M | $-177M | $556M | $-1.02B | $1.54B | $474M | $857M | $-810M | $1.07B | $-593M | $93M | $391M | $402M | $1.93B | |
| Taxes Paid | $33M | $12M | $19M | $21M | $30M | $43M | · | $20M | $25M | $8M | · | $37M | $16M | $6M | $12M | $21M |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 24.3% | 16.4% | · | 8.8% | 14.2% | 13.9% | · | 11.8% | 0.73% | 11.2% | · | 4.2% | 11.3% | 13.2% | · | 13.2% | |
| Net Margin | 23.6% | 11.0% | · | 4.3% | 69.1% | 7.8% | · | 3.6% | 5.9% | 21.1% | · | 52.3% | 8.6% | 5.1% | · | 19.9% | |
| EBITDA Margin | 24.3% | 16.4% | · | 8.8% | 14.2% | 13.9% | · | 11.8% | 0.73% | 11.2% | · | 4.2% | 11.3% | 13.2% | · | 13.2% | |
| ROA | 0.88% | 0.38% | · | 0.14% | 2.2% | 0.25% | · | 0.12% | 0.19% | 0.67% | · | 1.8% | 0.30% | 0.17% | · | 0.63% | |
| ROE | 1.8% | 0.80% | · | 0.31% | 4.8% | 0.55% | · | 0.26% | 0.42% | 1.6% | · | 4.2% | 0.68% | 0.39% | · | 1.4% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Coverage | 4.1 | 2.3 | · | 1.2 | 1.9 | 2.0 | · | 1.4 | 0.1 | 1.4 | · | 0.5 | 1.4 | 1.7 | · | 2.1 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $74.15 | $66.97 | · | $67.12 | $67.32 | $63.24 | · | $64.12 | $63.02 | $60.88 | · | $60.06 | $58.89 | $59.09 | · | $59.35 | |
| Revenue / Share | $5.32 | $4.63 | · | $4.52 | $4.32 | $4.08 | · | $4.26 | $4.14 | $4.15 | · | $4.50 | $4.45 | $4417.28 | · | $4.02 | |
| Cash Flow / Share | · | $1.51 | · | · | · | $1.16 | · | · | · | $1.10 | · | · | · | $1153.96 | · | · | |
| Cash / Share | $5.04 | $6.95 | · | $9.62 | $10.44 | $6.90 | · | $6.57 | $7.00 | $3.82 | · | $3.51 | $0.42 | $0.45 | · | $0.62 | |
| EPS (TTM) | $2.04 | $3.77 | · | $3.86 | $3.80 | $1.06 | · | $1.14 | $3.36 | $3.50 | · | $2.80 | $1.24 | $1.09 | · | $4.89 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $6.77B | $6.34B | · | $5.91B | $5.77B | $5.63B | · | $5.49B | $5.46B | $5.47B | · | $5.34B | $5.13B | $4.90B | · | $4.57B | |
| Net Income TTM | $799M | $1.38B | · | $1.40B | $1.38B | $431M | · | $441M | $1.12B | $1.16B | · | $924M | $428M | $373M | · | $1.44B | |
| Market Cap | $66.45B | $62.88B | · | $59.30B | $59.34B | $48.25B | · | $53.62B | $49.55B | $45.00B | · | $36.65B | $34.07B | $28.64B | · | $28.52B | |
| P/E | 88.0 | 47.8 | · | 44.8 | 45.9 | 135.2 | · | 142.0 | 45.3 | 41.2 | · | 43.2 | 91.8 | 90.2 | · | 20.3 | |
| P/S | 9.8 | 9.9 | · | 10.0 | 10.3 | 8.6 | · | 9.8 | 9.1 | 8.2 | · | 6.9 | 6.6 | 5.8 | · | 6.2 | |
| P/B | 2.4 | 2.7 | · | 2.6 | 2.6 | 2.3 | · | 2.5 | 2.4 | 2.4 | · | 2.0 | 1.9 | 1.7 | · | 1.7 | |
| P / Tangible Book | 3.7 | 5.2 | · | 5.1 | 5.2 | 4.7 | · | 4.5 | 4.3 | 4.5 | · | 4.0 | 4.0 | 3.6 | · | 3.4 | |
| P / Cash Flow | · | 118.1 | · | · | · | 120.9 | · | · | · | 127.7 | · | · | · | 81.9 | · | · | |
| Dividend Yield | 2.7% | 2.8% | · | 2.9% | 2.9% | 3.5% | · | 3.0% | 3.2% | 3.5% | · | 4.2% | 4.4% | 5.2% | · | 5.1% | |
| Earnings Yield | 1.1% | 2.1% | · | 2.2% | 2.2% | 0.74% | · | 0.70% | 2.2% | 2.4% | · | 2.3% | 1.1% | 1.1% | · | 4.9% | |
| Payout Ratio | · | 486.1% | · | · | · | 771.6% | · | · | · | 280.1% | · | · | · | 1073.8% | · | · | |
| Annual Payout | $1.77B | $1.75B | · | $1.73B | $1.71B | $1.69B | · | $1.63B | $1.60B | $1.57B | · | $1.52B | $1.50B | $1.48B | · | $1.45B |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $6.11B | $5.55B | $5.48B | $4.69B | $4.43B |
| Operating Margin % | 10.8% | 8.5% | 9.6% | 12.6% | 15.7% |
| Net Income | $1.31B | $602M | $949M | $378M | $1.71B |
| Diluted EPS | $3.58 | $1.61 | $2.88 | $1.11 | $5.94 |
No data for this statement
Not enough fundamentals data to build this statement yet.
No data for this statement
Not enough fundamentals data to build this statement yet.
Institutional owners (13F) 1,422 filers · $69.4B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
1,422
Value held
$69.4B
New positions
159
Exited positions
69
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 159 (-27 vs prior Q) | 69 (-12 vs prior Q) | 579 (+85 vs prior Q) | 394 (-23 vs prior Q) | +55.4M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD GROUP INC | $8,394,620,141 | 54,260,359 | 12.10% | Shares |
| BlackRock, Inc. | $7,277,032,269 | 40,522,510 | 10.49% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $5,415,535,696 | 30,156,675 | 7.81% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $4,003,240,639 | 22,292,241 | 5.77% | Shares |
| STATE STREET CORP | $3,742,070,082 | 20,837,900 | 5.39% | Shares |
| NORGES BANK | $3,464,122,443 | 19,290,135 | 4.99% | Shares |
| Blackstone Inc. | $2,211,255,816 | 12,313,486 | 3.19% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $1,745,981,771 | 9,758,447 | 2.52% | Shares |
| BANK OF AMERICA CORP /DE/ | $1,605,671,382 | 8,941,260 | 2.31% | Shares |
| APG Asset Management US Inc. | $1,519,824,270 | 8,619,693 | 2.19% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $1,178,094,723 | 6,560,278 | 1.70% | Shares |
| MORGAN STANLEY | $1,168,406,015 | 6,506,324 | 1.68% | Shares |
| NORTHERN TRUST CORP | $996,502,710 | 5,549,074 | 1.44% | Shares |
| FMR LLC | $886,941,622 | 4,938,978 | 1.28% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $881,059,299 | 4,905,453 | 1.27% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $850,781,621 | 4,737,619 | 1.23% | Shares |
| Invesco Ltd. | $814,454,135 | 4,535,328 | 1.17% | Shares |
| Daiwa Securities Group Inc. | $757,507,948 | 4,218,220 | 1.09% | Shares |
| JPMORGAN CHASE & CO | $723,446,528 | 3,796,025 | 1.04% | Shares |
| GOLDMAN SACHS GROUP INC | $710,950,957 | 3,958,965 | 1.02% | Shares |
| Amundi | $707,661,465 | 3,940,647 | 1.02% | Shares |
| Legal & General Group Plc | $691,558,984 | 3,850,980 | 1.00% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $672,795,685 | 3,746,513 | 0.97% | Shares |
| CENTERSQUARE INVESTMENT MANAGEMENT LLC | $648,554,785 | 3,611,509 | 0.94% | Shares |
| Nuveen, LLC | $474,526,833 | 2,642,426 | 0.68% | Shares |
| VIKING GLOBAL INVESTORS LP | $414,915,101 | 2,310,475 | 0.60% | Shares |
| DEUTSCHE BANK AG\ | $408,370,846 | 2,274,033 | 0.59% | Shares |
| Russell Investments Group, Ltd. | $392,961,714 | 2,148,435 | 0.57% | Shares |
| ALLIANCEBERNSTEIN L.P. | $379,987,382 | 2,108,581 | 0.55% | Shares |
| UBS Group AG | $365,201,736 | 2,033,644 | 0.53% | Shares |
| Bank of New York Mellon Corp | $352,538,546 | 1,963,128 | 0.51% | Shares |
| ROYAL BANK OF CANADA | $345,762,000 | 1,925,395 | 0.50% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $342,893,284 | 1,909,418 | 0.49% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $336,488,025 | 1,873,750 | 0.49% | Shares |
| Resolution Capital Ltd | $328,280,680 | 1,828,047 | 0.47% | Shares |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO | $311,677,792 | 1,735,593 | 0.45% | Shares |
| SEI INVESTMENTS CO | $285,545,048 | 1,590,072 | 0.41% | Shares |
| D. E. Shaw & Co., Inc. | $276,969,108 | 1,542,316 | 0.40% | Shares |
| PRUDENTIAL FINANCIAL INC | $263,647,324 | 1,468,133 | 0.38% | Shares |
| HSBC HOLDINGS PLC | $260,242,263 | 1,447,327 | 0.38% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $236,660,221 | 1,317,854 | 0.34% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $236,653,398 | 1,317,816 | 0.34% | Shares |
| Ghisallo Capital Management LLC | $215,154,798 | 1,198,100 | 0.31% | Shares |
| Balyasny Asset Management L.P. | $202,639,688 | 1,128,409 | 0.29% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $198,823,972 | 1,107,161 | 0.29% | Shares |
| Pictet Asset Management Holding SA | $189,357,054 | 1,054,444 | 0.27% | Shares |
| BARCLAYS PLC | $185,752,702 | 1,034,373 | 0.27% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $178,914,415 | 996,624 | 0.26% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $175,239,372 | 975,829 | 0.25% | Shares |
| Swiss National Bank | $174,057,735 | 969,249 | 0.25% | Shares |
Company insiders 51 insiders · 25 officers · 19 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Andrew Power | PRESIDENT AND CEO | March 13, 2026 A | 0 | 0 | 0 | $0 |
| William A Stein | CHIEF EXECUTIVE OFFICER | Sept. 15, 2022 P | 10,000 | 0 | 0 | $0 |
| Michael F Foust | CEO and Director | Feb. 11, 2014 A | 184,608 | 0 | 0 | $0 |
| Matt Mercier | CFO | March 13, 2026 A | 0 | 0 | 0 | $0 |
| Erich Sanchack | EVP, CHIEF OPERATING OFFICER | Aug. 31, 2022 F | 1,228 | 0 | 0 | $0 |
| Christine Beseda Kornegay | CHIEF ACCOUNTING OFFICER | Oct. 1, 2026 F | 4,244 | 0 | 0 | $0 |
| Jeannie Lee | EVP, GENERAL COUNSEL | March 13, 2026 A | 10,611 | 0 | 0 | $0 |
| Peter C. Olson | CHIEF ACCOUNTING OFFICER | Nov. 27, 2023 F | 8,293 | 0 | 0 | $0 |
| Cindy Fiedelman | CHIEF HUMAN RESOURCES OFFICER | July 28, 2023 M | 0 | 0 | 0 | $0 |
| Dyer Corey | EVP, CHIEF REVENUE OFFICER | April 21, 2023 F | 32,496 | 0 | 0 | $0 |
| Gregory S Wright | CHIEF INVESTMENT OFFICER | April 21, 2023 A | 14,157 | 0 | 0 | $0 |
| Christopher Sharp | EVP, CHIEF TECHNOLOGY OFFICER | April 21, 2023 A | 0 | 0 | 0 | $0 |
| Camilla A. Harris | PRINCIPAL ACCOUNTING OFFICER | Jan. 1, 2023 A | 5,577 | 0 | 0 | $0 |
| David C Ruberg | EVP, STRATEGIC ADVISOR | May 27, 2022 S | 175,000 | 0 | 0 | $0 |
| Joshua A. Mills | EVP, GENERAL COUNSEL | Sept. 1, 2021 M | 4,166 | 0 | 0 | $0 |
| James M. Smith | Chief Technology Officer | March 9, 2015 S | 13,582 | 0 | 0 | $0 |
| David Caron | Senior Vice President | Dec. 3, 2014 M | 0 | 0 | 0 | $0 |
| Matthew J. Miszewski | SVP, Sales | Feb. 11, 2014 A | · | 0 | 0 | $0 |
| Kris Kumar | SVP and Regional Head | Feb. 11, 2014 A | 28,844 | 0 | 0 | $0 |
| Ellen A Jacobs | SVP, Human Resources | Feb. 11, 2014 A | 0 | 0 | 0 | $0 |
| Frederick S. Potter | Managing Dir - Euro Finance | Nov. 6, 2012 S | 6,205 | 0 | 0 | $0 |
| Brent Behrman | Senior Vice President, Sales | April 2, 2012 M | 0 | 0 | 0 | $0 |
| Christopher James Crosby JR | SVP, Corporate Development | March 7, 2011 M | 0 | 0 | 0 | $0 |
| James Trout | Sr. VP, Portfolio & Tech Ops | March 2, 2009 M | 0 | 0 | 0 | $0 |
| John O Wilson | EVP,Technology Infrastructure | Nov. 3, 2004 A | · | 0 | 0 | $0 |
| Veralinn Jamieson | Director | Sept. 30, 2026 A | · | 0 | 0 | $0 |
| Susan Swanezy | Director | Sept. 30, 2026 A | · | 0 | 0 | $0 |
| Mark R Patterson | Director | Aug. 27, 2026 S | 6,322 | 0 | 1 | $-38,792 |
| Stephen R. Bolze | Director | May 29, 2026 A | · | 0 | 0 | $0 |
| Mary Hogan Preusse | Director | May 29, 2026 A | 0 | 0 | 1 | $-655,812 |
| William G Laperch | Director | May 29, 2026 A | 10,808 | 0 | 0 | $0 |
| MANDEVILLE JEAN F H P | Director | May 29, 2026 A | 11,039 | 0 | 0 | $0 |
| Afshin Mohebbi | Director | May 29, 2026 A | · | 0 | 0 | $0 |
| Kevin Kennedy | Director | May 29, 2026 A | 0 | 0 | 0 | $0 |
| Alexis Bjorlin | Director | Sept. 30, 2023 A | · | 0 | 0 | $0 |
| Dennis E Singleton | Director | March 31, 2023 A | 10,784 | 0 | 0 | $0 |
| CHAPMAN LAURENCE A | Director | March 31, 2023 A | 50,000 | 0 | 0 | $0 |
| Michael A Coke | Director | May 11, 2021 A | 7,340 | 0 | 0 | $0 |
| Ruann Faye Ernst | Director | July 22, 2014 A | 2,448 | 0 | 0 | $0 |
| Richard A Magnuson | Director | Aug. 8, 2011 A | 0 | 0 | 0 | $0 |
| Kathleen Earley Reed | Director | Oct. 27, 2004 A | · | 0 | 0 | $0 |
| Edward F Sham | · | Jan. 13, 2020 A | 4,338 | 0 | 0 | $0 |
| John T Roberts JR | · | May 13, 2019 A | 12,382 | 0 | 0 | $0 |
| Scott E Peterson | · | March 9, 2018 A | 0 | 0 | 0 | $0 |
| Daniel W Papes | · | March 2, 2018 A | · | 0 | 0 | $0 |
| Robert H Zerbst | · | May 8, 2017 A | · | 0 | 0 | $0 |
| Kathleen Earley | · | May 8, 2017 A | 19,137 | 0 | 0 | $0 |
| Christopher Kenney | · | March 9, 2017 M | 0 | 0 | 0 | $0 |
| Jarrett Appleby | · | Feb. 28, 2017 A | · | 0 | 0 | $0 |
| Michael J Henry | · | Feb. 28, 2017 A | · | 0 | 0 | $0 |
| Bernard Geoghegan | · | May 4, 2016 S | 7,185 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 138 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| SRVR · Pacer Funds Trust | 16.67% | 327,753 NS | July 31, 2026 | N-PORT |
| REAI · Tidal Trust I | 9.37% | 535 NS | July 31, 2026 | N-PORT |
| IDGT · iShares Trust | 9.17% | 251,312 SH | Sept. 11, 2026 | Daily |
| RITA · ETF Series Solutions | 8.52% | 3,942 NS | July 31, 2026 | N-PORT |
| JRE · Janus Detroit Street Trust | 6.54% | 1,460 NS | July 31, 2026 | N-PORT |
| PSR · Invesco Actively Managed Exchange-T… | 6.32% | 19,786 | Oct. 1, 2026 | Daily |
| RNTY · Tidal Trust II | 5.78% | 2,681 NS | July 31, 2026 | N-PORT |
| ERTH · Invesco Exchange-Traded Fund Trust | 5.03% | 35,259 | Oct. 1, 2026 | Daily |
| IYR · iShares Trust | 4.86% | 1,071,482 SH | Sept. 11, 2026 | Daily |
| DFAR · Dimensional ETF Trust | 4.59% | 433,815 NS | July 31, 2026 | N-PORT |
| ICF · iShares Trust | 4.50% | 478,795 SH | Sept. 11, 2026 | Daily |
| USRT · iShares Trust | 4.38% | 1,043,846 SH | Sept. 11, 2026 | Daily |
| FREL · FIDELITY COVINGTON TRUST | 3.95% | 312,601 NS | July 31, 2026 | N-PORT |
| FPRO · FIDELITY COVINGTON TRUST | 3.92% | 3,431 NS | July 31, 2026 | N-PORT |
| REET · iShares Trust | 3.77% | 986,675 SH | Sept. 11, 2026 | Daily |
| DRN · Direxion Shares ETF Trust | 3.45% | 8,230 NS | July 31, 2026 | N-PORT |
| DFGR · Dimensional ETF Trust | 3.38% | 691,861 NS | July 31, 2026 | N-PORT |
| VNQ · VANGUARD SPECIALIZED FUNDS | 3.28% | 13,078,734 SH | Aug. 19, 2026 | Daily |
| RSPR · Invesco Exchange-Traded Fund Trust | 3.28% | 15,318 | Oct. 1, 2026 | Daily |
| ERET · iShares Trust | 2.59% | 1,882 SH | Sept. 11, 2026 | Daily |
| PABU · iShares Trust | 1.95% | 262,502 SH | Sept. 11, 2026 | Daily |
| SDG · iShares Trust | 1.28% | 11,569 SH | Sept. 11, 2026 | Daily |
| TEXN · iShares Trust | 1.11% | 1,129 SH | Sept. 11, 2026 | Daily |
| PWS · Pacer Funds Trust | 1.09% | 1,392 NS | July 31, 2026 | N-PORT |
| VOE · VANGUARD INDEX FUNDS | 1.09% | 2,257,328 SH | Aug. 19, 2026 | Daily |
| IGPT · Invesco Exchange-Traded Fund Trust | 0.91% | 74,994 | Oct. 1, 2026 | Daily |
| NFRA · FlexShares Trust | 0.86% | 137,229 NS | July 31, 2026 | N-PORT |
| IQRA · New York Life Investments Active ET… | 0.86% | 313 NS | July 31, 2026 | N-PORT |
| GQRE · FlexShares Trust | 0.74% | 16,640 NS | July 31, 2026 | N-PORT |
| IWS · iShares Trust | 0.66% | 540,686 SH | Sept. 11, 2026 | Daily |
| ACIO · ETF Series Solutions | 0.63% | 78,436 NS | July 31, 2026 | N-PORT |
| LQAI · Exchange Listed Funds Trust | 0.63% | 74 NS | July 31, 2026 | N-PORT |
| KNCT · Invesco Exchange-Traded Fund Trust | 0.63% | 5,885 | Oct. 1, 2026 | Daily |
| ADME · ETF Series Solutions | 0.62% | 9,573 NS | July 31, 2026 | N-PORT |
| VO · VANGUARD INDEX FUNDS | 0.61% | 7,615,368 SH | Aug. 19, 2026 | Daily |
| PGX · Invesco Exchange-Traded Fund Trust … | 0.59% | 1,120,560 | Oct. 1, 2026 | Daily |
| JOYT · J.P. Morgan Exchange-Traded Fund Tr… | 0.56% | 2,878 NS | July 31, 2026 | N-PORT |
| IMCG · iShares Trust | 0.54% | 115,909 SH | Sept. 11, 2026 | Daily |
| TECB · iShares Trust | 0.51% | 13,447 SH | Sept. 11, 2026 | Daily |
| IWR · iShares Trust | 0.49% | 1,483,369 SH | Sept. 11, 2026 | Daily |
| SUSA · iShares Trust | 0.46% | 100,026 SH | Sept. 11, 2026 | Daily |
| EVUS · iShares Trust | 0.44% | 9,022 SH | Sept. 11, 2026 | Daily |
| IMCB · iShares Trust | 0.43% | 38,518 SH | Sept. 11, 2026 | Daily |
| FTLS · First Trust Exchange-Traded Fund III | 0.40% | 53,482 NS | July 31, 2026 | N-PORT |
| HAPI · Harbor ETF Trust | 0.40% | 10,370 NS | July 31, 2026 | N-PORT |
| NUDV · Nushares ETF Trust | 0.40% | 1,060 NS | July 31, 2026 | N-PORT |
| XOEF · iShares Trust | 0.36% | 437 SH | Sept. 11, 2026 | Daily |
| BSCS · Invesco Exchange-Traded Self-Indexe… | 0.36% | 12,555,000 | Oct. 1, 2026 | Daily |
| IMCV · iShares Trust | 0.31% | 19,448 SH | Sept. 11, 2026 | Daily |
| PFF · iShares Trust | 0.28% | 1,845,788 SH | Sept. 11, 2026 | Daily |
| USXF · iShares Trust | 0.28% | 21,981 SH | Sept. 11, 2026 | Daily |
| VTV · VANGUARD INDEX FUNDS | 0.24% | 3,344,877 SH | Aug. 19, 2026 | Daily |
| BSCR · Invesco Exchange-Traded Self-Indexe… | 0.23% | 10,503,000 | Oct. 1, 2026 | Daily |
| IVE · iShares Trust | 0.22% | 578,443 SH | Sept. 11, 2026 | Daily |
| ESGU · iShares Trust | 0.21% | 198,840 SH | Sept. 11, 2026 | Daily |
| IUSV · iShares Trust | 0.21% | 304,764 SH | Sept. 11, 2026 | Daily |
| SUSL · iShares Trust | 0.20% | 13,058 SH | Sept. 11, 2026 | Daily |
| VOOV · VANGUARD ADMIRAL FUNDS | 0.20% | 76,073 SH | Aug. 19, 2026 | Daily |
| FTC · First Trust Exchange-Traded AlphaDE… | 0.20% | 13,936 NS | July 31, 2026 | N-PORT |
| HDUS · Lattice Strategies Trust | 0.20% | 2,142 NS | July 31, 2026 | N-PORT |
| EUSA · iShares, Inc. | 0.20% | 20,284 SH | Sept. 11, 2026 | Daily |
| DSI · iShares Trust | 0.19% | 56,547 SH | Sept. 11, 2026 | Daily |
| BSCT · Invesco Exchange-Traded Self-Indexe… | 0.19% | 5,965,000 | Sept. 30, 2026 | Daily |
| IETC · iShares U.S. ETF Trust | 0.19% | 7,179 SH | Sept. 11, 2026 | Daily |
| ESUM · Strategy Shares | 0.19% | 1,867 NS | July 31, 2026 | N-PORT |
| RSP · Invesco Exchange-Traded Fund Trust | 0.19% | 1,034,482 | Oct. 1, 2026 | Daily |
| IQSU · New York Life Investments ETF Trust | 0.19% | 3,273 NS | July 31, 2026 | N-PORT |
| SIZE · iShares Trust | 0.18% | 4,234 SH | Sept. 11, 2026 | Daily |
| IWD · iShares Trust | 0.18% | 804,286 SH | Sept. 11, 2026 | Daily |
| VONV · VANGUARD SCOTTSDALE FUNDS | 0.18% | 211,060 SH | Aug. 19, 2026 | Daily |
| FDMO · FIDELITY COVINGTON TRUST | 0.18% | 8,420 NS | July 31, 2026 | N-PORT |
| ESG · FlexShares Trust | 0.18% | 1,230 NS | July 31, 2026 | N-PORT |
| LGDX · Tidal Trust III | 0.18% | 1,323 NS | July 31, 2026 | N-PORT |
| PFIG · Invesco Exchange-Traded Fund Trust … | 0.17% | 230,000 | Oct. 1, 2026 | Daily |
| GLBL · Pacer Funds Trust | 0.15% | 9 NS | July 31, 2026 | N-PORT |
| EGLE · Global X Funds | 0.15% | 17 NS | July 31, 2026 | N-PORT |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.15% | 6,606 | Oct. 1, 2026 | Daily |
| ILCG · iShares Trust | 0.12% | 20,345 SH | Sept. 11, 2026 | Daily |
| TOPC · iShares Trust | 0.11% | 203 SH | Sept. 11, 2026 | Daily |
| ESLG · Strategy Shares | 0.11% | 137 NS | July 31, 2026 | N-PORT |
| XVV · iShares Trust | 0.11% | 4,000 SH | Sept. 11, 2026 | Daily |
| ESGV · VANGUARD WORLD FUND | 0.11% | 79,039 SH | Aug. 19, 2026 | Daily |
| CATH · Global X Funds | 0.11% | 7,282 NS | July 31, 2026 | N-PORT |
| CHRI · Global X Funds | 0.10% | 44 NS | July 31, 2026 | N-PORT |
| QVML · Invesco Exchange-Traded Fund Trust … | 0.10% | 9,635 | Oct. 1, 2026 | Daily |
| BKLC · BNY Mellon ETF Trust | 0.10% | 29,319 NS | July 31, 2026 | N-PORT |
| XCLR · Global X Funds | 0.10% | 19 NS | July 31, 2026 | N-PORT |
| VV · VANGUARD INDEX FUNDS | 0.10% | 410,405 SH | Aug. 19, 2026 | Daily |
| XRMI · Global X Funds | 0.10% | 264 NS | July 31, 2026 | N-PORT |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.10% | 3,029 NS | July 31, 2026 | N-PORT |
| IVV · iShares Trust | 0.10% | 4,385,010 SH | Sept. 11, 2026 | Daily |
| PBUS · Invesco Exchange-Traded Fund Trust … | 0.10% | 63,875 | Oct. 1, 2026 | Daily |
| ACVF · ETF Opportunities Trust | 0.10% | 794 NS | July 31, 2026 | N-PORT |
| XYLD · Global X Funds | 0.10% | 16,788 NS | July 31, 2026 | N-PORT |
| VOXP · Advisors Series Trust | 0.10% | 30 NS | July 31, 2026 | N-PORT |
| XYLG · Global X Funds | 0.10% | 331 NS | July 31, 2026 | N-PORT |
| USCL · iShares Trust | 0.10% | 14,687 SH | Sept. 11, 2026 | Daily |
| BBUS · J.P. Morgan Exchange-Traded Fund Tr… | 0.10% | 45,354 NS | July 31, 2026 | N-PORT |
| IWB · iShares Trust | 0.10% | 250,017 SH | Sept. 11, 2026 | Daily |
| VOTE · TCW ETF Trust | 0.10% | 5,565 NS | July 31, 2026 | N-PORT |
| PBP · Invesco Exchange-Traded Fund Trust | 0.09% | 2,091 | Oct. 1, 2026 | Daily |
| PTLC · Pacer Funds Trust | 0.09% | 16,344 NS | July 31, 2026 | N-PORT |
| XTR · Global X Funds | 0.09% | 24 NS | July 31, 2026 | N-PORT |
| SPUU · Direxion Shares ETF Trust | 0.09% | 1,309 NS | July 31, 2026 | N-PORT |
| QDPL · Pacer Funds Trust | 0.09% | 8,360 NS | July 31, 2026 | N-PORT |
| IYY · iShares Trust | 0.09% | 14,896 SH | Sept. 11, 2026 | Daily |
| ILCB · iShares Trust | 0.09% | 6,374 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.09% | 99,520 SH | Sept. 11, 2026 | Daily |
| VOO · VANGUARD INDEX FUNDS | 0.09% | 8,583,636 SH | Aug. 19, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.09% | 11,158,220 SH | Aug. 19, 2026 | Daily |
| VONE · VANGUARD SCOTTSDALE FUNDS | 0.09% | 57,901 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.09% | 29,439 SH | Aug. 19, 2026 | Daily |
| TOV · EA Series Trust | 0.09% | 1,321 NS | July 31, 2026 | N-PORT |
| PRF · Invesco Exchange-Traded Fund Trust | 0.09% | 49,863 | Oct. 1, 2026 | Daily |
| ITOT · iShares Trust | 0.09% | 452,771 SH | Sept. 11, 2026 | Daily |
| TOK · iShares Trust | 0.08% | 1,028 SH | Sept. 11, 2026 | Daily |
| HCMT · Direxion Shares ETF Trust | 0.08% | 2,385 NS | July 31, 2026 | N-PORT |
| PHDG · Invesco Actively Managed Exchange-T… | 0.08% | 276 | Oct. 1, 2026 | Daily |
| SPXL · Direxion Shares ETF Trust | 0.08% | 27,117 NS | July 31, 2026 | N-PORT |
| URTH · iShares, Inc. | 0.08% | 33,308 SH | Sept. 11, 2026 | Daily |
| TILT · FlexShares Trust | 0.07% | 7,742 NS | July 31, 2026 | N-PORT |
| ACWI · iShares Trust | 0.07% | 117,242 SH | Sept. 11, 2026 | Daily |
| ILCV · iShares Trust | 0.06% | 4,679 SH | Sept. 11, 2026 | Daily |
| CRBN · iShares Trust | 0.06% | 3,734 SH | Sept. 11, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.05% | 289,924 SH | Aug. 19, 2026 | Daily |
| JFLI · J.P. Morgan Exchange-Traded Fund Tr… | 0.04% | 94 NS | July 31, 2026 | N-PORT |
| RWL · Invesco Exchange-Traded Fund Trust … | 0.03% | 17,917 | Oct. 1, 2026 | Daily |
| OMFL · Invesco Exchange-Traded Self-Indexe… | 0.01% | 3,343 | Oct. 1, 2026 | Daily |
| BSV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BND · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| VUSB · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| VCRB · VANGUARD MALVERN FUNDS | · | · | July 15, 2026 | Daily |
| VSDB · VANGUARD MALVERN FUNDS | · | · | July 15, 2026 | Daily |
| VCSH · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VTC · VANGUARD SCOTTSDALE FUNDS | · | · | July 30, 2026 | Daily |
| BNDW · VANGUARD SCOTTSDALE FUNDS | · | · | July 30, 2026 | Daily |
| BNDX · VANGUARD CHARLOTTE FUNDS | · | · | July 15, 2026 | Daily |
| VCEB · VANGUARD WORLD FUND | · | · | July 30, 2026 | Daily |
DLR Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 38 analysts
BUY
Median target
$224.50
+25.7%
12 31.6%
Strong Buy
20 52.6%
Buy
6 15.8%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
32 analysts · 2026-09-29Mean target $223.44 +25.1%
← Below all targets
Current price $178.55
Low$190.00
Mean$223.44
High$250.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
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Source: SEC 10-Q filed Jul 31, 2026