GDS GDS Holdings Limited - American Depositary Shares
NASDAQ · Technology · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Apr 29, 2026
$27.57
· of 52w range
· above low
· to high
$26.9752w low
$48.6052w high
Market Cap
$45.52B
P/E
50.1
EPS
$0.55
Revenue
$11.43B
your badges
52W Range
$27–$49
Analyst Rating
STRONG BUY
Price Target
$50
P/E
50.1
ROE
3.9%
Net Profit Margin
8.3%
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GDS Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$27.57
Market Cap
$45.52B
P/E
50.1
EPS
$0.55
Revenue
$11.43B
ROE
3.9%
Debt/Equity
1.0
52W Range
$27–$49
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$11.43B2016-12-31 → 2025-12-31
EPS$0.552019-12-31 → 2025-12-31
Free Cash Flow$-1.33B2016-12-31 → 2025-12-31
Net margin8.3%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 | GDS | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | 50.15Y avg ≈-0.3 | ≈-0.3 | · | · | |
| P/S | 4.05Y avg ≈4.5 | ≈4.5 | · | · | |
| P/B | 1.85Y avg ≈1.8 | ≈1.8 | · | · | |
| EV / EBITDA | -1031.95Y avg ≈-195.2 | ≈-195.2 | · | · | |
| Price / FCF | -34.35Y avg ≈-18.3 | ≈-18.3 | · | · | |
| Price / Cash Flow | 13.55Y avg ≈22.5 | ≈22.5 | · | · | |
| EV / Revenue | 5.05Y avg ≈6.3 | ≈6.3 | · | · | |
| EV / FCF | -43.45Y avg ≈-25.3 | ≈-25.3 | · | · | |
| Price / Tangible Book | 2.25Y avg ≈2.5 | ≈2.5 | · | · |
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 | GDS | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Gross Margin | 22.6%5Y avg ≈21.4% | ≈21.4% | · | · | |
| Operating Margin | -0.49%5Y avg ≈-0.16% | ≈-0.16% | · | · | |
| EBITDA Margin | -0.49%5Y avg ≈-0.16% | ≈-0.16% | · | · | |
| Pretax Margin | 6.2%5Y avg ≈-13.1% | ≈-13.1% | · | · | |
| Net Profit Margin | 8.3%5Y avg ≈-6.1% | ≈-6.1% | · | · | |
| ROA | 1.2%5Y avg ≈-0.69% | ≈-0.69% | · | · | |
| ROE | 3.9%5Y avg ≈-2.0% | ≈-2.0% | · | · | |
| ROIC | -0.04%5Y avg ≈0.15% | ≈0.15% | · | · |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | GDS | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity | 1.05Y avg ≈1.2 | ≈1.2 | · | · | |
| Current Ratio | 2.65Y avg ≈1.5 | ≈1.5 | · | · | |
| Quick Ratio | 2.45Y avg ≈1.3 | ≈1.3 | · | · | |
| Long-Term Debt / Equity | 0.95Y avg ≈1.0 | ≈1.0 | · | · |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | GDS | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.15Y avg ≈0.1 | ≈0.1 | · | · | |
| Receivables Turnover | 4.25Y avg ≈4.3 | ≈4.3 | · | · | |
| Revenue / Employee | ≈$4.7M | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
2803.6%
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | $0.44 | $-0.06 | 819.0% | |
| March 31, 2026 | $1.32 | $-0.03 | 4413.7% | |
| Dec. 31, 2025 | $0.73 | $-0.01 | 7305.9% | |
| Sept. 30, 2025 | $-0.43 | $-0.12 | -251.3% | |
| June 30, 2025 | $-0.06 | $-0.08 | 26.5% | |
| March 31, 2025 | $0.73 | $-0.01 | 7305.9% | |
| Dec. 31, 2024 | $-0.20 | $-0.21 | 5.7% |
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 | $11.43B | $10.32B | $9.78B | $9.27B | $7.82B | $5.74B | $4.12B | $2.79B | $1.62B | $1.06B | $704M | $468M | |
| Cost of Revenue | $8.85B | $8.10B | $7.83B | $7.32B | $6.04B | $4.19B | $3.08B | $2.17B | $1.21B | $790M | $515M | $388M | |
| Gross Profit | $2.59B | $2.22B | $1.95B | $1.95B | $1.78B | $1.55B | $1.04B | $622M | $408M | $266M | $189M | $80M | |
| R&D Expense | $33M | $36M | $38M | $32M | $39M | $40M | $22M | $14M | $7M | $9M | $4M | $2M | |
| SG&A Expense | $898M | $918M | $966M | $1.05B | $1.02B | $703M | $411M | $330M | $229M | $227M | $129M | $114M | |
| Operating Income | $-56M | $1.15B | $-2.21B | $713M | $570M | $673M | $480M | $168M | $82M | $-42M | $-1M | $-76M | |
| Interest Expense | · | · | $2.04B | $1.89B | $1.65B | $1.32B | $969M | $656M | $412M | $265M | $127M | $132M | |
| Interest Income | $154M | $90M | $94M | $42M | · | · | · | · | · | · | · | · | |
| Other Non-op | $7M | $22M | $25M | $5M | $-2M | $5M | $6M | $5M | $435.0K | $284.0K | $1M | $-412.0K | |
| Pretax Income | $713M | $-615M | $-3.94B | $-828M | $-949M | $-548M | $-426M | $-440M | $-333M | $-285M | $-111M | $-135M | |
| Income Tax | $470M | $156M | $-16M | $276M | $242M | $121M | $16M | $-9M | $-6M | $-8M | $-12M | $-5M | |
| Net Income | $950M | $3.43B | $-4.29B | $-1.27B | $-1.19B | $-666M | $-442M | $-430M | $-327M | $-276M | $-99M | $-130M | |
| EPS (Basic) | $0.59 | $2.27 | $-2.96 | $-1.03 | $-0.90 | $-0.59 | $-0.45 | · | · | · | · | · | |
| EPS (Diluted) | $0.55 | $2.27 | $-2.96 | $-1.03 | $-0.90 | $-0.59 | $-0.45 | · | · | · | · | · | |
| Shares (Basic) | 1,520,535,019 | 1,475,079,754 | 1,468,187,956 | 1,464,447,843 | 1,452,906,722 | 1,253,559,523 | 1,102,953,366 | · | · | · | · | · | |
| Shares (Diluted) | 1,644,556,988 | 1,475,079,754 | 1,468,187,956 | 1,464,447,843 | 1,452,906,722 | 1,253,559,523 | 1,102,953,366 | · | · | · | · | · | |
| EBITDA | $-56M | $1.15B | $-2.46B | $552M | $570M | $673M | $480M | $168M | $82M | $-42M | · | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $14.31B | $7.87B | $7.35B | $8.61B | $9.97B | $16.26B | $5.81B | $2.16B | $1.87B | $1.81B | $924M | $607M | |
| Receivables | $2.47B | $3.02B | $2.49B | $2.41B | $1.73B | $1.48B | $880M | $537M | $365M | $199M | $111M | · | |
| Prepaid Expense | · | · | $175M | $187M | $203M | $164M | $81M | $65M | $50M | $50M | $51M | · | |
| Other Current Assets | $413M | $361M | $444M | $427M | $317M | $173M | $149M | $111M | $43M | $49M | $34M | · | |
| Current Assets | $18.55B | $11.61B | $10.98B | $11.95B | $14.46B | $18.32B | $7.08B | $3.04B | $2.45B | $2.21B | $1.19B | · | |
| PP&E (Net) | · | · | · | · | · | · | $19.18B | $13.99B | $8.17B | $4.32B | $2.51B | · | |
| PP&E (Gross) | · | · | · | · | · | · | $18.56B | $12.90B | $7.18B | $4.24B | $2.53B | · | |
| Accum. Depreciation | · | · | · | · | · | · | $2.58B | $1.53B | $966M | $614M | $421M | · | |
| Goodwill | $5.19B | $5.89B | $5.89B | $7.08B | $7.08B | $2.60B | $1.91B | $1.75B | $1.57B | $1.34B | $1.29B | $1.29B | |
| Intangibles | $273M | $481M | $688M | $1.05B | $1.28B | $785M | $395M | $482M | $348M | $93M | $47M | · | |
| Other Non-current Assets | $648M | $675M | $747M | $665M | $1.07B | $486M | $289M | $213M | $212M | $99M | $58M | · | |
| Total Assets | $80.00B | $73.65B | $74.45B | $74.81B | $71.63B | $57.26B | $31.49B | $20.89B | $13.14B | $8.20B | $5.13B | · | |
| Accounts Payable | $1.93B | $2.59B | $2.75B | $3.09B | $3.90B | $3.66B | $1.68B | $1.51B | $1.11B | $514M | $216M | · | |
| Accrued Liabilities | $1.21B | $1.29B | $1.15B | $1.02B | $2.68B | $1.40B | $818M | $477M | · | · | · | · | |
| Short-term Debt | $411M | $1.80B | $422M | $1.65B | $4.64B | $1.23B | $397M | $685M | $463M | $240M | $333M | · | |
| Current Liabilities | $7.13B | $9.08B | $8.31B | $10.60B | $13.47B | $7.64B | $4.00B | $3.51B | $2.42B | $1.48B | $925M | · | |
| Capital Leases | $1.20B | $1.28B | $1.34B | $1.62B | $1.88B | $1.54B | $710M | $4.13B | $2.30B | $1.02B | $425M | · | |
| Deferred Tax | $1.14B | $1.24B | $1.28B | $1.41B | $734M | $462M | $253M | $172M | $124M | $53M | $38M | · | |
| Other Non-current Liabilities | $224M | $297M | $304M | $268M | $539M | $349M | $346M | $341M | $359M | $112M | $79M | · | |
| Total Liabilities | $52.26B | $49.98B | $54.32B | $50.63B | $45.74B | $30.59B | $20.14B | $15.36B | $8.67B | $5.22B | $3.07B | · | |
| Long-term Debt | $25.90B | $24.45B | $25.25B | $25.49B | $19.59B | $11.49B | $8.77B | $5.80B | $3.79B | $1.90B | $1.05B | · | |
| Total Debt | $26.31B | $26.25B | $29.54B | $27.14B | $24.23B | $12.72B | $9.17B | $6.49B | $4.25B | $2.14B | · | · | |
| Common Stock | $562.0K | $527.0K | $516.0K | $516.0K | $507.0K | $507.0K | $412.0K | $341.0K | $320.0K | $260.0K | $76.0K | · | |
| Paid-in Capital | · | · | · | · | · | · | · | $7.28B | $5.86B | $4.04B | $304M | · | |
| Retained Earnings | $-5.09B | $-6.04B | $-9.47B | $-5.18B | $-3.91B | $-2.72B | $-2.06B | $-1.62B | $-1.19B | $-859M | $-582M | · | |
| AOCI | $-829M | $-1.09B | $-974M | $-848M | $-599M | $-440M | $-53M | $-139M | $-201M | $-192M | $-62M | · | |
| Stockholders' Equity | $25.78B | $22.46B | $18.89B | $23.02B | $24.47B | $25.57B | $10.29B | $5.52B | $4.48B | $2.99B | $-341M | $-17M | |
| Liabilities + Equity | $80.00B | $73.65B | $74.45B | $74.81B | $71.63B | $57.26B | $31.49B | $20.89B | $13.14B | $8.20B | $5.13B | · | |
| Shares Outstanding | 1,651,020,903 | 1,555,180,903 | 1,524,432,991 | 1,524,432,991 | 1,495,180,395 | 1,495,180,395 | 1,216,432,715 | 1,007,069,643 | 941,269,679 | 760,009,043 | 217,987,922 | 217,987,922 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $3.46B | $3.24B | $3.37B | $3.12B | $2.62B | $1.64B | $1.14B | $742M | $378M | $227M | $145M | $83M | |
| Stock-based Comp | $283M | $296M | $337M | $291M | $391M | $334M | $190M | $106M | $60M | $64M | $4M | $27M | |
| Deferred Tax | $-97M | $-182M | $-296M | $-99M | $-48M | $-90M | $-50M | $-37M | $-12M | $-11M | $-11M | $-5M | |
| Amort. of Intangibles | $197M | $214M | $315M | $235M | $192M | $69M | $58M | $53M | $25M | $14M | $9M | $4M | |
| Operating Cash Flow | $3.37B | $1.94B | $2.07B | $2.81B | $1.20B | $321M | $293M | $-13M | $-168M | $-129M | $-80M | $28M | |
| CapEx | $4.69B | $3.17B | $3.19B | $5.87B | $9.70B | $8.04B | $4.56B | $4.26B | $1.72B | $988M | $733M | $248M | |
| Investing Cash Flow | $-3.04B | $-8.76B | $-7.34B | $-12.51B | $-13.69B | $-9.38B | $-5.13B | $-4.73B | $-2.01B | $-1.15B | $-732M | · | |
| Debt Issued | · | · | · | · | · | · | · | $2.81B | $3.09B | $1.27B | $584M | $200M | |
| Net Debt Issued | $-7.99B | $-5.63B | $-5.82B | $-1.35B | $-5.18B | $-4.19B | · | $1.98B | $1.69B | $896M | · | · | |
| Stock Issued | $1.02B | · | · | · | · | $15.97B | $4.93B | $1.28B | $650M | · | · | · | |
| Stock Repurchased | · | · | · | · | · | · | · | · | · | · | · | $120M | |
| Net Stock Activity | $1.02B | · | · | · | · | $15.97B | $4.93B | · | · | · | · | · | |
| Financing Cash Flow | $6.11B | $17.06B | $4.16B | $6.14B | $8.12B | $20.14B | $8.36B | $4.88B | $2.36B | $2.13B | $1.13B | · | |
| Net Change in Cash | $6.35B | $10.22B | $-964M | $-3.14B | $-4.47B | $10.52B | $3.69B | $337M | $109M | $908M | $318M | $558M | |
| Taxes Paid | $562M | $390M | $303M | $343M | $252M | $212M | $17M | $3M | $1M | $6M | $853.0K | · | |
| Free Cash Flow | $-1.33B | $-1.23B | $-3.96B | $-4.99B | $-8.50B | $-7.72B | $-4.26B | $-4.27B | $-1.89B | $-1.14B | · | · | |
| Levered FCF | · | · | $-5.99B | $-7.40B | $-10.58B | $-9.32B | $-5.27B | $-4.92B | $-2.30B | $-1.40B | · | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 22.6% | 21.5% | 19.3% | 20.8% | 22.8% | 27.0% | 25.3% | 22.3% | 25.3% | 25.2% | · | · | |
| Operating Margin | -0.49% | 11.2% | -24.7% | 5.9% | 7.3% | 11.7% | 11.6% | 6.0% | 5.1% | -4.0% | · | · | |
| Net Margin | 8.3% | 33.2% | -43.1% | -13.6% | -15.2% | -11.6% | -10.7% | -15.4% | -20.2% | -26.2% | · | · | |
| Pretax Margin | 6.2% | -6.0% | -43.2% | -10.6% | -12.1% | -9.6% | -10.3% | -15.8% | -20.6% | -27.0% | · | · | |
| EBITDA Margin | -0.49% | 11.2% | -24.7% | 5.9% | 7.3% | 11.7% | 11.6% | 6.0% | 5.1% | -4.0% | · | · | |
| ROA | 1.2% | 4.6% | -5.8% | -1.7% | -1.8% | -1.5% | -1.7% | -2.5% | -3.1% | -4.2% | · | · | |
| ROE | 3.9% | 16.6% | -20.5% | -5.3% | -4.8% | -3.7% | -5.6% | -8.6% | -8.8% | -20.9% | · | · | |
| ROIC | -0.04% | 3.0% | -5.1% | 1.4% | 1.5% | 2.1% | 2.6% | 1.4% | 0.93% | -0.80% | · | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.6 | 1.3 | 1.3 | 1.1 | 1.1 | 2.4 | 1.8 | 0.9 | 1.0 | 1.5 | · | · | |
| Quick Ratio | 2.4 | 1.2 | 1.2 | 1.0 | 0.9 | 2.3 | 1.7 | 0.8 | 0.9 | 1.4 | · | · | |
| Debt / Equity | 1.0 | 1.2 | 1.6 | 1.2 | 1.0 | 0.5 | 0.9 | 1.2 | 0.9 | 0.7 | · | · | |
| LT Debt / Equity | 0.9 | 1.0 | 1.4 | 1.0 | 0.7 | 0.4 | 0.8 | 0.9 | 0.8 | 0.5 | · | · | |
| Interest Coverage | · | · | -1.2 | 0.3 | 0.3 | 0.5 | 0.5 | 0.3 | 0.2 | -0.2 | · | · |
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 | 0.2 | 0.2 | 0.2 | 0.2 | · | · | |
| Receivables Turnover | 4.2 | 3.7 | 4.0 | 4.5 | 4.9 | 4.9 | 5.8 | 6.2 | 5.7 | 6.8 | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $15.62 | $14.44 | $12.39 | $15.10 | $16.37 | $17.10 | $8.46 | $5.48 | $4.75 | $3.93 | · | · | |
| Revenue / Share | $6.95 | $7.00 | $6.78 | $6.37 | $5.38 | · | · | · | · | · | · | · | |
| Cash Flow / Share | $2.05 | $1.31 | $1.41 | $1.95 | $0.83 | · | · | · | · | · | · | · | |
| Cash / Share | $8.66 | $5.06 | $5.06 | $5.65 | $6.67 | $10.87 | $4.78 | $2.15 | $1.99 | $2.38 | · | · | |
| EPS (TTM) | $0.55 | $2.27 | $-2.96 | $-1.03 | $-0.90 | $-0.59 | $-0.45 | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $11.43B | $10.32B | $9.78B | $9.27B | $7.82B | $5.74B | $4.12B | $2.79B | $1.62B | $1.06B | · | · | |
| Net Income TTM | $950M | $3.43B | $-4.29B | $-1.27B | $-1.19B | $-666M | $-442M | $-430M | $-327M | $-276M | · | · | |
| Market Cap | $57.62B | $36.95B | $13.90B | $31.43B | $70.51B | $140.01B | $62.74B | $23.25B | $21.21B | $6.54B | · | · | |
| Enterprise Value | $69.63B | $55.33B | $35.73B | $49.97B | $84.78B | $136.47B | $66.10B | $27.58B | $23.58B | $6.86B | · | · | |
| P/E | 63.5 | 10.5 | -3.1 | -20.0 | -52.4 | -158.7 | -114.6 | · | · | · | · | · | |
| P/S | 5.0 | 3.6 | 1.4 | 3.4 | 9.0 | 24.4 | 15.2 | 8.3 | 13.1 | 6.2 | · | · | |
| P/B | 2.2 | 1.6 | 0.7 | 1.4 | 2.9 | 5.5 | 6.1 | 4.2 | 4.7 | 2.2 | · | · | |
| P / Tangible Book | 2.8 | 2.3 | 1.1 | 2.1 | 4.4 | 6.3 | · | · | · | · | · | · | |
| P / Cash Flow | 17.1 | 19.1 | 6.7 | 11.0 | 58.7 | 436.3 | 213.8 | -1801.2 | -121.5 | -43.5 | · | · | |
| P / FCF | -43.5 | -30.0 | -3.5 | -6.3 | -8.3 | -18.1 | -14.7 | -5.4 | -11.2 | -5.7 | · | · | |
| EV / EBITDA | -1249.0 | 48.0 | -14.5 | 90.6 | 148.9 | 202.8 | 137.8 | 163.8 | 286.8 | -162.0 | · | · | |
| EV / FCF | -52.5 | -45.0 | -9.0 | -10.0 | -10.0 | -17.7 | -15.5 | -6.5 | -12.4 | -6.0 | · | · | |
| EV / Revenue | 6.1 | 5.4 | 3.7 | 5.4 | 10.8 | 23.8 | 16.0 | 9.9 | 14.6 | 6.5 | · | · | |
| Earnings Yield | 1.6% | 9.6% | -32.5% | -5.0% | -1.9% | -0.63% | -0.87% | · | · | · | · | · |
No quarterly filings for GDS
We don't have SEC filings for this ticker yet.
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 | $11.43B | $10.32B | $9.78B | $9.27B | $7.82B |
| Gross Margin % | 22.6% | 21.5% | 19.3% | 20.8% | 22.8% |
| Operating Margin % | -0.49% | 11.2% | -24.7% | 5.9% | 7.3% |
| Net Income | $950M | $3.43B | $-4.29B | $-1.27B | $-1.19B |
| Diluted EPS | $0.55 | $2.27 | $-2.96 | $-1.03 | $-0.90 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | 1.0 | 1.2 | 1.6 | 1.2 | 1.0 |
| Current Ratio | 2.6 | 1.3 | 1.3 | 1.1 | 1.1 |
| Quick Ratio | 2.4 | 1.2 | 1.2 | 1.0 | 0.9 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-1.33B | $-1.23B | $-3.96B | $-4.99B | $-8.50B |
Institutional owners (13F) 227 filers · $3.2B 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
227
Value held
$3.2B
New positions
48
Exited positions
46
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 48 (-4 vs prior Q) | 46 (+25 vs prior Q) | 76 (-1 vs prior Q) | 67 (+7 vs prior Q) | +16.1M |
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 |
|---|---|---|---|---|
| Singapore Technologies Telemedia Pte Ltd | $295,365,470 | 9,835,680 | 9.18% | Shares |
| Sachem Head Capital Management LP | $260,810,550 | 8,685,000 | 8.10% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $210,332,612 | 7,004,083 | 6.54% | Shares |
| BARCLAYS PLC | $199,825,386 | 6,654,192 | 6.21% | Shares |
| Tekne Capital Management, LLC | $179,482,000 | 5,976,818 | 5.58% | Shares |
| BAMCO INC /NY/ | $127,478,341 | 4,245,033 | 3.96% | Shares |
| UBS Group AG | $107,837,310 | 3,590,986 | 3.35% | Shares |
| Carrhae Capital LLP | $99,111,583 | 3,300,419 | 3.08% | Shares |
| GOLDMAN SACHS GROUP INC | $94,957,866 | 3,162,100 | 2.95% | Shares |
| TOMS Capital Investment Management LP | $81,741,660 | 2,722,000 | 2.54% | Shares |
| 12 West Capital Management LP | $76,972,656 | 2,563,192 | 2.39% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $74,730,346 | 2,488,523 | 2.32% | Shares |
| BlackRock, Inc. | $66,666,036 | 2,219,981 | 2.07% | Shares |
| Point72 Asset Management, L.P. | $65,157,983 | 2,169,763 | 2.02% | Shares |
| MORGAN STANLEY | $51,719,928 | 1,722,275 | 1.61% | Shares |
| Triata Capital Ltd | $51,207,757 | 1,705,220 | 1.59% | Shares |
| Clearline Capital LP | $50,017,968 | 1,665,600 | 1.55% | Shares |
| D. E. Shaw & Co., Inc. | $48,778,390 | 1,624,322 | 1.52% | Shares |
| Alyeska Investment Group, L.P. | $46,682,626 | 1,554,533 | 1.45% | Shares |
| Slate Path Capital LP | $45,078,033 | 1,501,100 | 1.40% | Shares |
| DENDUR CAPITAL LP | $42,462,420 | 1,414,000 | 1.32% | Shares |
| WCM INVESTMENT MANAGEMENT, LLC | $32,595,720 | 1,111,344 | 1.01% | Shares |
| AMERICAN CENTURY COMPANIES INC | $32,378,556 | 1,078,207 | 1.01% | Shares |
| Cerity Partners LLC | $31,893,932 | 1,062,069 | 0.99% | Shares |
| Philosophy Capital Management LLC | $30,590,300 | 1,018,658 | 0.95% | Shares |
| TOMS Capital Investment Management LP | $30,030,000 | 1,000,000 | 0.93% | Call option |
| MY.Alpha Management HK Advisors Ltd | $25,392,827 | 845,582 | 0.79% | Shares |
| Electron Capital Partners, LLC | $24,981,627 | 831,889 | 0.78% | Shares |
| Hel Ved Capital Management Ltd | $24,144,120 | 804,000 | 0.75% | Call option |
| MILLENNIUM MANAGEMENT LLC | $24,100,426 | 802,545 | 0.75% | Shares |
| GOLDMAN SACHS GROUP INC | $22,930,908 | 763,600 | 0.71% | Call option |
| Broad Peak Investment Advisers Pte Ltd | $22,914,392 | 763,050 | 0.71% | Shares |
| Ghisallo Capital Management LLC | $22,522,500 | 750,000 | 0.70% | Shares |
| HSBC HOLDINGS PLC | $21,580,374 | 716,506 | 0.67% | Shares |
| S.A.C. Capital Advisors (Hong Kong) Ltd. | $20,064,511 | 518,463 | 0.62% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $19,020,989 | 472,102 | 0.59% | Shares |
| Ardmore Road Asset Management LP | $18,018,000 | 600,000 | 0.56% | Shares |
| Oasis Management Co Ltd. | $17,378,031 | 578,689 | 0.54% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $16,867,821 | 561,699 | 0.52% | Shares |
| FRANKLIN RESOURCES INC | $16,299,624 | 542,778 | 0.51% | Shares |
| CITIGROUP INC | $15,960,494 | 531,485 | 0.50% | Shares |
| Qube Research & Technologies Ltd | $15,709,143 | 523,115 | 0.49% | Shares |
| Burkehill Global Management, LP | $15,015,000 | 500,000 | 0.47% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $14,684,670 | 489,000 | 0.46% | Call option |
| Rubric Capital Management LP | $14,590,766 | 485,873 | 0.45% | Shares |
| Aberdeen Group plc | $14,447,613 | 481,106 | 0.45% | Shares |
| Allianz Asset Management GmbH | $14,436,592 | 480,739 | 0.45% | Shares |
| FRED ALGER MANAGEMENT, LLC | $13,023,260 | 433,675 | 0.40% | Shares |
| UBS Group AG | $12,054,042 | 401,400 | 0.37% | Call option |
| MILLENNIUM MANAGEMENT LLC | $12,015,003 | 400,100 | 0.37% | Call option |
Activists & 5%+ owners 2 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Singapore Technologies Telemedia Pte Ltd, STT Communications Ltd, STT Garnet Pte. Ltd., Temasek Holdings (Private) Limited ×17 filings | Sept. 10, 2025 | 28.70% | Amendment | · | SEC |
| CyrusOne Inc., Cheetah Asia Holdings LLC ×2 filings | April 16, 2019 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 18 insiders · 5 officers · 13 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| William Wei Huang | Chairman and CEO | Aug. 3, 2026 J | 254,222 | 0 | 0 | $0 |
| Daniel Antony Newman | Chief financial officer | Aug. 3, 2026 J | 1,040,758 | 0 | 0 | $0 |
| Yixin Qian | Executive VP, operation | Aug. 3, 2026 J | 79,665 | 0 | 1 | $-352,500 |
| Kejing Zhang | EVP, sales and service | Aug. 3, 2026 J | 51,758 | 0 | 0 | $0 |
| Yan Liang | Executive vice president, data center operation and delivery | Aug. 3, 2026 J | 90,824 | 0 | 0 | $0 |
| David Zhang | Director | July 15, 2026 A | 75 | 0 | 0 | $0 |
| Chee Ming Liu | Director | July 15, 2026 A | 30,400 | 0 | 0 | $0 |
| Qiang Chang Sun | Director | July 15, 2026 A | 59,280 | 0 | 0 | $0 |
| Zulkifli Bin Baharudin | Director | July 15, 2026 A | 92,390 | 0 | 0 | $0 |
| Judy Qing Ye | Director | July 15, 2026 A | 1,320 | 0 | 1 | $-1,354,037 |
| Tat Hiang Sio | Director | July 15, 2026 A | 209,178 | 0 | 0 | $0 |
| Bin Yu | Director | July 15, 2026 A | 74,790 | 0 | 0 | $0 |
| Bruno Lopez | Director | July 15, 2026 A | 108,384 | 0 | 0 | $0 |
| Gary J Wojtaszek | Director | July 15, 2026 A | 89,349 | 0 | 0 | $0 |
| Kathy Hua Chen | Director | June 18, 2026 E | 50,740 | 0 | 0 | $0 |
| Satoshi Okada | Director | May 15, 2026 J | 98,939 | 0 | 0 | $0 |
| Ah Doo Lim | Director | May 15, 2026 J | 74,970 | 0 | 0 | $0 |
| Jonathan Allen King | · | July 15, 2026 A | 17,007 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 6 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 |
|---|---|---|---|---|
| PGJ · Invesco Exchange-Traded Fund Trust | 2.26% | 63,638 SH | Oct. 2, 2026 | Daily |
| SRVR · Pacer Funds Trust | 1.73% | 196,046 NS | July 31, 2026 | N-PORT |
| TRFM · ETF Series Solutions | 0.20% | 15,156 NS | July 31, 2026 | N-PORT |
| DFEM · Dimensional ETF Trust | 0.01% | 17,504 NS | July 31, 2026 | N-PORT |
| DFAE · Dimensional ETF Trust | 0.00% | 12,827 NS | July 31, 2026 | N-PORT |
| DFAX · Dimensional ETF Trust | 0.00% | 1,736 NS | July 31, 2026 | N-PORT |
GDS Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 15 analysts
BUY
Median target
$50.40
+82.8%
7 46.7%
Strong Buy
7 46.7%
Buy
1 6.7%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
16 analysts · 2026-09-30Mean target $50.40 +82.8%
← Below all targets
Current price $27.57
Low$40.11
Mean$50.40
High$63.07
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Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
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Source: SEC 20-F filed Apr 29, 2026