GDS Holdings Limited (GDS)

GDS Holdings Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Equivalents	14,823	14,306	7,868	7,355	8,608	9,968
Short-Term Investments	-	667.74	-	-	-	-
Cash & Short-Term Investments	14,823	14,974	7,868	7,355	8,608	9,968
Cash Growth	95.66%	90.32%	6.97%	-14.56%	-13.64%	-38.69%
Accounts Receivable	2,957	2,746	3,076	2,493	2,406	1,733
Other Receivables	290.93	284.97	240.51	214.39	164.74	229.09
Total Trade Receivables	3,248	3,031	3,317	2,707	2,571	1,962
Other Current Assets	5,512	542.84	428.67	921.4	772.18	2,534
Total Current Assets	23,583	18,548	11,613	10,984	11,951	14,464
Net Property, Plant & Equipment	42,702	42,902	45,419	45,432	52,574	45,289
Other Intangible Assets	-	273.34	481.11	688.29	1,048	1,283
Goodwill	5,422	5,188	5,886	5,886	7,077	7,077
Long-Term Investments	9,337	10,052	7,545	7.3	-	-
Other Long-Term Assets	3,090	3,036	2,704	11,450	2,165	3,521
Total Assets	84,135	79,999	73,649	74,447	74,814	71,632
Accounts Payable	1,912	2,050	2,603	2,750	3,093	3,902
Accrued Expenses	1,249	1,205	1,289	1,145	1,017	2,680
Short-Term Debt	3,223	2,952	4,342	2,582	3,624	5,948
Current Portion of Long-Term Debt	4,285	-	0.58	-	2,084	-
Current Portion of Leases	1,968	807.28	753.5	680.66	629.6	844.88
Unearned Revenue	-	113.83	90.98	119.89	156.13	90.99
Other Current Liabilities	-	-	-	1,027	-	-
Total Current Liabilities	12,636	7,128	9,078	8,305	10,603	13,465
Long-Term Debt	30,883	35,508	30,483	31,523	27,813	20,180
Long-Term Leases	6,828	8,257	8,881	9,238	10,534	10,817
Other Long-Term Liabilities	1,346	1,368	1,538	5,256	1,679	1,274
Total Long-Term Liabilities	39,057	45,133	40,902	46,017	40,026	32,271
Total Liabilities	51,693	52,261	49,980	54,323	50,629	45,736
Common Stock	0.56	0.56	0.53	0.52	0.52	0.51
Additional Paid-in Capital	31,737	31,707	29,596	29,337	29,049	28,983
Accumulated Other Comprehensive Income	-869.44	-829.32	-1,094	-974.39	-848.36	-599.19
Retained Earnings	-2,446	-5,095	-6,044	-9,470	-5,180	-3,911
Total Common Shareholders' Equity	28,422	25,783	22,458	18,894	23,021	24,474
Minority Interest	4,020	1,954	1,211	1,230	1,164	1,422
Shareholders' Equity	32,442	27,737	23,669	20,124	24,185	25,896
Total Liabilities & Equity	84,135	79,999	73,649	74,447	74,814	71,632
Total Debt	47,186	47,524	44,460	44,024	44,685	37,790
Net Cash (Debt)	-32,364	-32,550	-36,592	-36,670	-36,077	-27,822
Net Cash Per Share	-146.46	-158.34	-198.45	-199.81	-197.08	-153.19
Book Value	28,422	25,783	22,458	18,894	23,021	24,474
Book Value Per Share	128.62	125.42	121.80	102.95	125.76	134.76
Tangible Book Value	22,999	20,322	16,091	12,319	14,897	16,115
Tangible Book Value Per Share	104.08	98.86	87.27	67.12	81.38	88.73

Updated May 20, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q