GDS Holdings Limited (HKG:9698)
Hong Kong · Delayed Price · Currency is HKD 42.80
-0.80 (-1.83%)
At close: Mar 20, 2026
GDS Holdings Income Statement
Financials in millions CNY. Fiscal year is January - December.
Millions CNY. Fiscal year is Jan - Dec.
Fiscal Year | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
Period Ending | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
| 11,432 | 10,322 | 9,782 | 9,268 | 7,819 | |
Revenue Growth (YoY) | 10.76% | 5.52% | 5.55% | 18.54% | 36.24% |
Cost of Revenue | 8,847 | 8,099 | 7,831 | 7,317 | 6,039 |
Gross Profit | 2,585 | 2,223 | 1,951 | 1,951 | 1,779 |
Selling, General & Admin | 1,047 | 1,034 | 1,107 | 1,194 | 1,171 |
Research & Development | 32.7 | 36.32 | 38.16 | 31.91 | 39.34 |
Operating Expenses | 1,080 | 1,075 | 1,149 | 1,226 | 1,210 |
Operating Income | 1,505 | 1,148 | 802.22 | 725.99 | 569.52 |
Interest Expense | -1,635 | -1,925 | -1,937 | -1,878 | -1,655 |
Interest & Investment Income | - | 89.78 | 94.01 | 42.23 | 50.45 |
Earnings From Equity Investments | 715.93 | -0.35 | 0.11 | -9.93 | -0.97 |
Currency Exchange Gain (Loss) | 1.49 | 18.94 | -1.57 | -11.1 | -7.64 |
Other Non Operating Income (Expenses) | 38.17 | 53.6 | 113.59 | 110.4 | 87.62 |
EBT Excluding Unusual Items | 626.21 | -614.86 | -928.18 | -1,021 | -955.76 |
Gain (Loss) on Sale of Assets | 2,364 | - | - | - | - |
Asset Writedown | -1,561 | - | -3,013 | -12.76 | - |
Other Unusual Items | - | - | - | 205 | 7.01 |
Pretax Income | 1,429 | -614.86 | -3,942 | -828.32 | -948.75 |
Income Tax Expense | 469.72 | 156.05 | -15.58 | 276.24 | 242.46 |
Earnings From Continuing Operations | 959.36 | -770.91 | -3,926 | -1,105 | -1,191 |
Earnings From Discontinued Operations | - | 4,203 | -359.01 | -161.57 | - |
Net Income to Company | 959.36 | 3,432 | -4,285 | -1,266 | -1,191 |
Minority Interest in Earnings | -9.72 | -6.21 | -5.03 | -192.56 | -73.65 |
Net Income | 949.64 | 3,425 | -4,290 | -1,459 | -1,265 |
Preferred Dividends & Other Adjustments | 54.31 | 76.53 | 53.63 | 51.21 | 49.07 |
Net Income to Common | 895.34 | 3,349 | -4,344 | -1,510 | -1,314 |
Net Income Growth | -72.28% | - | - | - | - |
Shares Outstanding (Basic) | 190 | 184 | 184 | 183 | 182 |
Shares Outstanding (Diluted) | 206 | 184 | 184 | 183 | 182 |
Shares Change (YoY) | 11.49% | 0.47% | 0.26% | 0.79% | 15.90% |
EPS (Basic) | 4.71 | 18.16 | -23.67 | -8.25 | -7.23 |
EPS (Diluted) | 4.40 | 18.16 | -23.67 | -8.25 | -7.23 |
EPS Growth | -75.77% | - | - | - | - |
Free Cash Flow | -1,245 | -1,316 | -1,361 | -5,344 | -8,679 |
Free Cash Flow Per Share | -6.06 | -7.14 | -7.41 | -29.19 | -47.79 |
Gross Margin | 22.61% | 21.53% | 19.95% | 21.06% | 22.76% |
Operating Margin | 13.17% | 11.12% | 8.20% | 7.83% | 7.28% |
Profit Margin | 7.83% | 32.44% | -44.40% | -16.29% | -16.80% |
Free Cash Flow Margin | -10.89% | -12.75% | -13.91% | -57.66% | -111.00% |
EBITDA | 4,965 | 4,391 | 4,171 | 3,846 | 3,161 |
EBITDA Margin | 43.43% | 42.54% | 42.63% | 41.50% | 40.44% |
D&A For EBITDA | 3,459 | 3,243 | 3,368 | 3,120 | 2,592 |
EBIT | 1,505 | 1,148 | 802.22 | 725.99 | 569.52 |
EBIT Margin | 13.17% | 11.12% | 8.20% | 7.83% | 7.28% |
Effective Tax Rate | 32.87% | - | - | - | - |
Revenue as Reported | 11,432 | - | - | - | - |
Advertising Expenses | - | - | - | - | 15.04 |
Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.