GDS Holdings Ratios and Metrics

Market cap in millions HKD. Fiscal year is January - December.

Millions HKD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Feb '26 Feb 26, 2026	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Market Capitalization	64,804	35,877	13,576	30,637	68,730	135,691
Market Cap Growth	24.29%	164.27%	-55.69%	-55.42%	-49.35%	131.28%
Enterprise Value	102,942	88,525	58,026	69,749	96,395	156,973
Last Close Price	41.82	22.80	9.06	20.50	45.30	90.35
PE Ratio	10.72	10.07	-	-	-	-
PS Ratio	5.29	3.27	1.26	2.92	7.16	19.91
PB Ratio	2.21	1.42	0.61	1.12	2.16	4.28
P/TBV Ratio	2.97	2.10	1.00	1.82	3.62	5.31
P/OCF Ratio	17.91	17.39	5.97	9.65	46.61	356.07
EV/Sales Ratio	8.36	8.06	5.38	6.66	10.04	23.03
EV/EBITDA Ratio	19.32	18.95	12.63	16.04	24.84	57.85
EV/EBIT Ratio	103.57	72.47	65.66	84.98	137.89	196.42
Debt / Equity Ratio	1.75	1.88	2.19	1.85	1.46	0.92
Debt / EBITDA Ratio	8.76	9.09	9.40	10.28	10.60	9.67
Net Debt / Equity Ratio	1.25	1.55	1.82	1.49	1.07	0.31
Net Debt / EBITDA Ratio	6.90	8.33	8.79	9.38	8.80	3.66
Net Debt / FCF Ratio	-31.76	-27.80	-26.95	-6.75	-3.21	-1.06
Asset Turnover	0.14	0.14	0.13	0.13	0.12	0.13
Quick Ratio	2.41	1.23	1.21	1.05	0.89	2.34
Current Ratio	2.51	1.28	1.32	1.13	1.07	2.40
Return on Equity (ROE)	4.84%	-3.52%	-17.72%	-4.41%	-4.53%	-3.52%
Return on Assets (ROA)	1.10%	0.97%	0.67%	0.62%	0.55%	0.95%
Return on Capital Employed (ROCE)	2.00%	1.80%	1.20%	1.10%	1.00%	1.40%
Earnings Yield	9.33%	10.16%	-34.81%	-5.38%	-2.26%	-0.60%
FCF Yield	-1.78%	-3.90%	-11.04%	-19.72%	-15.50%	-6.91%
Payout Ratio	0.97%	1.58%	-	-	-	-
Buyback Yield / Dilution	-21.84%	-0.47%	-0.26%	-0.79%	-15.90%	-13.66%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.