DIGITAL REALTY TRUST, INC.

DLR 10-K · Q4 2025

DLR Q4 2025 request

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Income Statement

Income Statement
Metric Q4 2025 Q4 2024 YoY
Revenue 1,634,671 1,435,862 +13.8%
Show Product Lines breakouts
Fee income and other 46,064 23,356 +97.2%
Fee income and other · Digital Realty Trust, L.P. 46,064 23,356 +97.2%
Rental and other services 1,588,607 1,412,506 +12.5%
Rental and other services · Digital Realty Trust, L.P. 1,588,607 1,412,506 +12.5%
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Non Us 814 685.1 +18.8%
US 820.7 750.8 +9.3%
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Digital Realty Trust, L.P. 1,634,671 1,435,862 +13.8%
Operating Lease Expense 694,133 610,638 +13.7%
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Digital Realty Trust, L.P. 694,133 610,638 +13.7%
Real Estate Taxes And Insurance 55,502 52,051 +6.6%
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Digital Realty Trust, L.P. 55,502 52,051 +6.6%
Depreciation And Amortization 493,458 455,355 +8.4%
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Digital Realty Trust, L.P. 493,458 455,355 +8.4%
General & Administrative 164,220 126,816 +29.5%
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Digital Realty Trust, L.P. 164,220 126,816 +29.5%
Business Combination Acquisition And Integration Related Costs 36,083 11,797 +205.9%
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Digital Realty Trust, L.P. 36,083 11,797 +205.9%
Other Expenses Operating (Q)
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Digital Realty Trust, L.P. 98 12,002 -99.2%
Operating Expenses 1,522,047 1,291,540 +17.8%
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Digital Realty Trust, L.P. 1,522,047 1,291,540 +17.8%
Operating Income 112,624 144,322 -22.0%
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Digital Realty Trust, L.P. 112,624 144,322 -22.0%
Income Loss From Equity Method Investments 4,659 -36,201 +112.9%
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Digital Realty Trust, L.P. 4,659 -36,201 +112.9%
Gain Loss On Disposition Of Assets 42,865 144,885 -70.4%
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Digital Realty Trust, L.P. 42,865 144,885 -70.4%
Other Non-Operating Income (Expense) 42,797 44,517 -3.9%
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Digital Realty Trust, L.P. 42,797 44,517 -3.9%
Interest Expense -116,516 -104,742 -11.2%
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Digital Realty Trust, L.P. -116,516 -104,742 -11.2%
Income Tax Expense (Benefit) 9,673 -4,928 +296.3%
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Digital Realty Trust, L.P. 9,673 -4,928 +296.3%
Net Income 96,111 185,688 -48.2%
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Digital Realty Trust, L.P. 96,111 185,688 -48.2%
Net Income Loss Attributable To Noncontrolling Interest 2,536 3,881 -34.7%
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Digital Realty Trust, L.P. 4,536 7,881 -42.4%
Net Income 98,647 189,569 -48.0%
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Digital Realty Trust, L.P. 100,647 193,569 -48.0%
Dividends Preferred Stock Stock -10,181 -10,181 0.0%
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Retained Earnings -10,181 -10,181 0.0%
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Digital Realty Trust, L.P. -10,181 -10,181 0.0%
Net Income Loss Available To Common Stockholders Basic 88,466 179,388 -50.7%
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Digital Realty Trust, L.P. 90,466 183,388 -50.7%
EPS (Basic) 0.25 0.54 -53.7%
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Digital Realty Trust, L.P. 0.25 0.54 -53.7%
EPS (Diluted) 0.23 0.51 -54.9%
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Digital Realty Trust, L.P. 0.23 0.52 -55.8%
Wtd Avg Shares (Basic) 1,242 3,371 -63.2%
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Digital Realty Trust, L.P. 1,213 3,331 -63.6%
Wtd Avg Shares (Diluted) 1,179 2,906 -59.4%
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Digital Realty Trust, L.P. 1,150 2,866 -59.9%
Comprehensive Income 163,340 -335,349 +148.7%
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Digital Realty Trust, L.P. 166,569 -341,791 +148.7%
Other Comprehensive Income 127,937 -664,576 +119.3%
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Digital Realty Trust, L.P. 127,937 -664,576 +119.3%

Balance Sheet

Balance Sheet
Metric Q4 2025 Q4 2024 YoY
Current Assets
Cash & Cash Equivalents 3,451,647 3,870,891 -10.8%
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Digital Realty Trust, L.P. 3,451,647 3,870,891 -10.8%
Non-Current Assets
Operating Lease Right-of-Use Assets 1,135,645 1,178,853 -3.7%
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Non Us 646.4 626.6 +3.2%
US 489.2 552.3 -11.4%
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Digital Realty Trust, L.P. 1,135,645 1,178,853 -3.7%
Goodwill 9,711,953 8,929,431 +8.8%
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Digital Realty Trust, L.P. 9,711,953 8,929,431 +8.8%
Show Business Acquisition breakouts
DFT Merger 2,592,147 2,592,147 0.0%
European Portfolio Acquisition 455,514 414,977 +9.8%
Interxion Combination 4,698,882 4,153,316 +13.1%
Other Combinations 12,518 12,518 0.0%
Telx Acquisition 330,845 330,845 0.0%
Teraco 1,622,047 1,425,628 +13.8%
Total Assets 49,410,468 45,283,616 +9.1%
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Digital Realty Trust, L.P. 49,410,468 45,283,616 +9.1%
Show Equity Method Investment Nonconsolidated Investee breakouts
Unconsolidated entities 16,741,463 12,617,102 +32.7%
Unconsolidated Joint Ventures in Americas 10,782,799 7,473,799 +44.3%
Unconsolidated Joint Ventures in APAC 2,615,038 2,127,166 +22.9%
Unconsolidated Joint Ventures in EMEA 1,269,336 1,009,055 +25.8%
Unconsolidated Joint Ventures in Global 2,074,290 2,007,082 +3.3%
Intangible Assets 1,807,372 1,935,203 -6.6%
Show Finite Lived Intangible Assets By Major Class breakouts
Above Market Leases 1,684 3,608 -53.3%
Customer Relationships 1,650,704 1,702,881 -3.1%
Leases Acquired In Place 134,162 180,685 -25.7%
Other 52,994
Other Intangible Assets 52,994 86,600 -38.8%
Other Assets
Real Estate Investment Property Net 26,433,617 24,120,782 +9.6%
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Digital Realty Trust, L.P. 26,433,617 24,120,782 +9.6%
Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures 3,427,903 2,639,800 +29.9%
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Digital Realty Trust, L.P. 3,427,903 2,639,800 +29.9%
Real Estate Investments 29,861,520 26,760,582 +11.6%
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Non Us 16,212.5 13,528.5 +19.8%
US 10,221.1 10,592.3 -3.5%
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Digital Realty Trust, L.P. 29,861,520 26,760,582 +11.6%
Digital Realty Trust, L.P. · Digital Realty DC Partners NA Fund 661
Accounts And Notes Receivable Net 1,358,895 1,257,464 +8.1%
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Digital Realty Trust, L.P. 1,358,895 1,257,464 +8.1%
Deferred Rent Receivables Net 750,907 642,456 +16.9%
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Digital Realty Trust, L.P. 750,907 642,456 +16.9%
Customer Relationship Leases Deferred Leasing Costs And Intangible Assets Net 2,134,698 2,178,054 -2.0%
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Digital Realty Trust, L.P. 2,134,698 2,178,054 -2.0%
Asset Held For Sale And Contribution Not Part Of Disposal Group 349,826
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Digital Realty Trust, L.P. 349,826
Limited Partners · Digital Realty DC Partners NA Fund, Real Estate Assets For Two Additional Development Project 336.4
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Non Core Assets In Texas 13.4
Other Assets 655,377 465,885 +40.7%
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Digital Realty Trust, L.P. 655,377 465,885 +40.7%
Non-Current Liabilities
Accounts Payable And Accrued Liabilities Current And Noncurrent 2,600,979 2,056,215 +26.5%
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Digital Realty Trust, L.P. 2,600,979 2,056,215 +26.5%
Deferred Tax Liabilities 1,124,724 1,084,562 +3.7%
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Digital Realty Trust, L.P. 1,124,724 1,084,562 +3.7%
Dividends Payable Current And Noncurrent 428,337 418,661 +2.3%
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Digital Realty Trust, L.P. 428,337 418,661 +2.3%
Total Liabilities 24,564,494 22,107,836 +11.1%
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Digital Realty Trust, L.P. 24,564,494 22,107,836 +11.1%
Show Equity Method Investment Nonconsolidated Investee breakouts
Unconsolidated entities 7,899,929 6,092,323 +29.7%
Unconsolidated Joint Ventures in Americas 4,886,672 3,532,248 +38.3%
Unconsolidated Joint Ventures in APAC 1,127,446 823,921 +36.8%
Unconsolidated Joint Ventures in EMEA 703,538 740,433 -5.0%
Unconsolidated Joint Ventures in Global 1,182,273 995,721 +18.7%
Long-Term Debt (Q)
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Digital Realty Trust, L.P. · Unsecured Senior Note 16,194,441 13,962,852 +16.0%
Other Liabilities
Line Of Credit 899,090 1,611,308 -44.2%
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Digital Realty Trust, L.P. 899,090 1,611,308 -44.2%
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Letter Of Credit 94.2
Unsecured Debt 439,536 386,903 +13.6%
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Digital Realty Trust, L.P. 439,536 386,903 +13.6%
Senior Notes 16,194,441 13,962,852 +16.0%
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Digital Realty Trust, L.P. 16,194,441 13,962,852 +16.0%
Secured Debt 869,068 753,314 +15.4%
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Digital Realty Trust, L.P. 869,068 753,314 +15.4%
Operating Lease Liability 1,253,217 1,294,219 -3.2%
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Digital Realty Trust, L.P. 1,253,217 1,294,219 -3.2%
Security Deposit Liability 754,920 539,802 +39.9%
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Digital Realty Trust, L.P. 754,920 539,802 +39.9%
Disposal Group Including Discontinued Operation Liabilities Relating To Assets Held For Sale And Contribution 182
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Digital Realty Trust, L.P. 182
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Non Core Assets In Texas 0.2
Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests 1,498,975 1,433,185 +4.6%
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Digital Realty Trust, L.P. 1,498,975 1,433,185 +4.6%
Stockholders' Equity
Preferred Stock Value 731,690 731,690 0.0%
Common Stock 3,406 3,337 +2.1%
Preferred Units Preferred Partners Capital Accounts (Q)
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Digital Realty Trust, L.P. 731,690 731,690 0.0%
General Partners Capital Account (Q)
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Digital Realty Trust, L.P. 22,663,171 21,790,990 +4.0%
Limited Partners Capital Account (Q)
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Digital Realty Trust, L.P. 431,600 426,183 +1.3%
Additional Paid-In Capital 29,350,487 28,079,738 +4.5%
Retained Earnings -6,690,722 -6,292,085 -6.3%
Accumulated Other Comprehensive Income -469,198 -1,182,283 +60.3%
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Digital Realty Trust, L.P. -485,342 -1,212,367 +60.0%
Total Stockholders' Equity 22,925,663 21,340,397 +7.4%
Show Equity Method Investment Nonconsolidated Investee breakouts
Unconsolidated entities 8,841,534 6,524,779 +35.5%
Unconsolidated Joint Ventures in Americas 5,896,128 3,941,551 +49.6%
Unconsolidated Joint Ventures in APAC 1,487,592 1,303,245 +14.1%
Unconsolidated Joint Ventures in EMEA 565,798 268,622 +110.6%
Unconsolidated Joint Ventures in Global 892,017 1,011,361 -11.8%
Partners Capital (Q)
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Digital Realty Trust, L.P. 23,341,119 21,736,496 +7.4%
Minority Interest 421,336 402,198 +4.8%
Minority Interest In Joint Ventures (Q)
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Digital Realty Trust, L.P. 5,880 6,099 -3.6%
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Subsidiary of Operating Partnership subsidiary · Ascenty 23
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 23,346,999 21,742,595 +7.4%
Show Equity Components breakouts
Accumulated Other Comprehensive Income -469,198 -1,182,283 +60.3%
Accumulated Translation Adjustment -492,674 -1,189,649 +58.6%
Additional Paid In Capital 29,350,487 28,079,738 +4.5%
Common Stock 3,406 3,337 +2.1%
Increase (decrease) in fair value of derivatives, net of reclassification 23,476 7,366 +218.7%
Noncontrolling Interest 421,336 402,198 +4.8%
Preferred Stock 731,690 731,690 0.0%
Redeemable Noncontrolling Interests 1,498,975 1,433,185 +4.6%
Retained Earnings -6,690,722 -6,292,085 -6.3%
Partners Capital Including Portion Attributable To Noncontrolling Interest (Q)
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Accumulated Other Comprehensive Income · Digital Realty Trust, L.P. -485,342 -1,212,367 +60.0%
Accumulated Translation Adjustment · Digital Realty Trust, L.P. -507,813 -1,218,412 +58.3%
Increase (decrease) in fair value of derivatives, net of reclassification · Digital Realty Trust, L.P. 22,471 6,045 +271.7%
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Digital Realty Trust, L.P. 23,346,999 21,742,595 +7.4%
Digital Realty Trust, L.P. · Accumulated Other Comprehensive Income -485,342 -1,212,367 +60.0%
Digital Realty Trust, L.P. · Common Units 22,663,171 21,790,990 +4.0%
Digital Realty Trust, L.P. · Common Units 431,600 426,183 +1.3%
Digital Realty Trust, L.P. · Noncontrolling Interests in Consolidated Joint Ventures 5,880 6,099 -3.6%
Digital Realty Trust, L.P. · Preferred Units 731,690 731,690 0.0%
Digital Realty Trust, L.P. · Redeemable Interests 1,498,975 1,433,185 +4.6%
Total Liabilities & Equity 49,410,468 45,283,616 +9.1%
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Digital Realty Trust, L.P. 49,410,468 45,283,616 +9.1%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q4 2025 YTD Q4 2024 YoY
Operating Activities
Gain Loss On Sale Of Property Plant Equipment -42,865 -144,885 +70.4%
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Digital Realty Trust, L.P. -42,865 -144,885 +70.4%
Equity Method Investment Dividends Or Distributions 22,409 10,944 +104.8%
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Digital Realty Trust, L.P. 22,409 10,944 +104.8%
Amortization Deferred Stock Based Compensation 24,006 14,931 +60.8%
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Digital Realty Trust, L.P. 24,006 14,931 +60.8%
Straight Lined Rents Amortization Of Below Market Lease And Above Market Lease -42,106 -36,515 -15.3%
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Digital Realty Trust, L.P. -42,106 -36,515 -15.3%
Amortization Of Deferred Financing Costs 9,262 4,293 +115.7%
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Digital Realty Trust, L.P. 9,262 4,293 +115.7%
Other Non-Cash Items -59,334 28,888 -305.4%
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Digital Realty Trust, L.P. -59,334 28,888 -305.4%
Increase Decrease In Accounts And Other Assets -117,646 -113,165 -4.0%
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Digital Realty Trust, L.P. -117,646 -113,165 -4.0%
Increase Decrease In Accounts Payable And Accrued Liabilities 261,773 302,694 -13.5%
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Digital Realty Trust, L.P. 261,773 302,694 -13.5%
Net Cash from Operations 718,953 769,475 -6.6%
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Digital Realty Trust, L.P. 718,953 769,475 -6.6%
Investing Activities
Payments To Develop Real Estate Assets -1,002,161 -735,410 -36.3%
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Digital Realty Trust, L.P. -1,002,161 -735,410 -36.3%
Payments To Acquire Asset Or Businesses Net Of Cash Acquired -33,233 -190,704 +82.6%
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Digital Realty Trust, L.P. -33,233 -190,704 +82.6%
Payments To Acquire Equity Method Investments -192,747 -81,261 -137.2%
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Digital Realty Trust, L.P. -192,747 -81,261 -137.2%
Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital 180 0
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Digital Realty Trust, L.P. 180 0
Proceeds From Sale Of Productive Assets 459,912 518,484 -11.3%
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Digital Realty Trust, L.P. 459,912 518,484 -11.3%
Other Investing Activities 8,975 -23,099 +138.9%
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Digital Realty Trust, L.P. 8,975 -23,099 +138.9%
Net Cash from Investing -759,074 -511,990 -48.3%
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Digital Realty Trust, L.P. -759,074 -511,990 -48.3%
Financing Activities
Proceeds From Lines Of Credit 390,877 474,171 -17.6%
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Digital Realty Trust, L.P. 390,877 474,171 -17.6%
Repayments Of Lines Of Credit -628,184 -522,438 -20.2%
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Digital Realty Trust, L.P. -628,184 -522,438 -20.2%
Proceeds From Issuance Of Long Term Debt 1,612,577 1,207,492 +33.5%
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Digital Realty Trust, L.P. 1,612,577 1,207,492 +33.5%
Repayments Of Long Term Debt -1,264,523 -502,654 -151.6%
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Digital Realty Trust, L.P. -1,264,523 -502,654 -151.6%
Proceeds From Payments To Minority Shareholders 8,574 -129 +6746.5%
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Digital Realty Trust, L.P. 8,574 -129 +6746.5%
Proceeds From Issuance Of Common Stock Net 76,841 920,593 -91.7%
Proceeds From Contributions From Parent (Q)
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Digital Realty Trust, L.P. 76,841 920,593 -91.7%
Payments Of Dividends -10,181 -10,185 0.0%
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Digital Realty Trust, L.P. -10,181 -10,185 0.0%
Proceeds From Payments For Other Financing Activities -34,049 -25,351 -34.3%
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Digital Realty Trust, L.P. -34,049 -25,351 -34.3%
Net Cash from Financing 151,932 1,541,499 -90.1%
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Digital Realty Trust, L.P. 151,932 1,541,499 -90.1%
Supplemental
Interest Paid 64.5 46.6 +38.4%
Other Cash Flow
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect 111,811 1,798,984 -93.8%
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Digital Realty Trust, L.P. 111,811 1,798,984 -93.8%
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 40,457 -104,392 +138.8%
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Digital Realty Trust, L.P. 40,457 -104,392 +138.8%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 3,458,290 3,876,700 -10.8%
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Digital Realty Trust, L.P. 3,458,290 3,876,700 -10.8%

Values in thousands USD. Source: SEC EDGAR 10-K filing.

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