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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 19, 2026	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
Market Capitalization	64,958	54,431	35,877	13,576	30,637	68,730
Market Cap Growth	11.68%	51.72%	164.27%	-55.69%	-55.42%	-49.35%
Enterprise Value	104,354	92,374	88,525	58,026	69,749	96,395
Last Close Price	42.80	33.70	22.80	9.06	20.50	45.30
PE Ratio	65.20	54.63	10.07	-	-	-
PS Ratio	5.11	4.28	3.27	1.26	2.92	7.16
PB Ratio	2.10	1.76	1.42	0.61	1.12	2.16
P/TBV Ratio	2.87	2.41	2.10	1.00	1.82	3.62
P/OCF Ratio	17.35	14.54	17.39	5.97	9.65	46.61
EV/Sales Ratio	8.15	7.26	8.06	5.38	6.66	10.04
EV/EBITDA Ratio	16.09	16.72	18.95	12.63	16.04	24.84
EV/EBIT Ratio	41.94	55.14	72.47	65.66	84.98	137.89
Debt / Equity Ratio	1.71	1.71	1.88	2.19	1.85	1.46
Debt / EBITDA Ratio	9.37	9.37	9.09	9.40	10.28	10.60
Net Debt / Equity Ratio	1.20	1.20	1.55	1.82	1.49	1.07
Net Debt / EBITDA Ratio	6.69	6.69	8.33	8.79	9.38	8.80
Net Debt / FCF Ratio	-26.67	-26.67	-27.80	-26.95	-6.75	-3.21
Asset Turnover	0.15	0.15	0.14	0.13	0.13	0.12
Quick Ratio	2.39	2.39	1.23	1.21	1.05	0.89
Current Ratio	2.60	2.60	1.28	1.32	1.13	1.07
Return on Equity (ROE)	3.73%	3.73%	-3.52%	-17.72%	-4.41%	-4.53%
Return on Assets (ROA)	1.23%	1.23%	0.97%	0.67%	0.62%	0.55%
Return on Invested Capital (ROIC)	1.67%	1.67%	1.96%	1.37%	1.27%	1.28%
Return on Capital Employed (ROCE)	2.10%	2.10%	1.80%	1.20%	1.10%	1.00%
Earnings Yield	1.53%	1.94%	10.16%	-34.81%	-5.38%	-2.26%
FCF Yield	-2.13%	-2.55%	-3.90%	-11.04%	-19.72%	-15.50%
Payout Ratio	-	-	1.58%	-	-	-
Buyback Yield / Dilution	-11.49%	-11.49%	-0.47%	-0.26%	-0.79%	-15.90%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.