TORVANTA
Real Estate · S&P 500 · data as of 2026-10-05

DLR stock analysis: Digital Realty

Digital Realty (DLR) is an S&P 500 company in Data Center REITs. It grades strongest on momentum and weakest on value and profitability.

The model's view of DLR · subscribers

Where DLR ranks among the 1,500 U.S. stocks the model scores each trading day, its expected return, the evidence for and against it, and whether the model portfolio holds it. The grades below describe the company's data; they are not the model's view.

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What's happening with DLR · updated 2026-10-05 · from prices and SEC filings

DLR price performance

DLR against the S&P 500, one year
-10%+0%+10%+20%S&P 500 +18%DLR +9%2025-09-292026-10-05
Year to date+18.6%S&P 500 +14.5% · ahead by 4.1 pts
1 year+4.9%S&P 500 +17.0% · behind by 12.1 pts
3 years+67.2%S&P 500 +89.3% · behind by 22.0 pts
5 years+49.5%S&P 500 +91.3% · behind by 41.8 pts

Total returns with dividends reinvested.

DLR factor grades

Each grade compares DLR with the rest of its sector (A+ best, F worst); the numbers behind it are shown with the typical figure for its peers.

C-ValueP/E 47.6x (sector 32.1x)FCF yield 4.0% (sector 6.4%)
B+GrowthRevenue growth +13% (sector +6%)EPS growth +253% (sector +43%)
D+ProfitabilityOperating margin 11.5% (sector 38.5%)ROIC 2.8% (sector 7.7%)
A-Momentum12-month change +5%From 52-wk high -11%

DLR in plain numbers

DLR key statistics

SectorReal Estate
IndustryData Center REITs
IndexS&P 500
Market value$63.2B
Revenue growth (y/y)+13%
Free-cash-flow yield4.0%
Dividend yield2.7%
Next earnings (expected)2026-10-22
Valuation measures
Market value$63.2B
Enterprise value$60.8B
P/E (trailing)47.6x
Forward P/E (Torvanta estimate)34.1x
PEG (Torvanta estimate)0.86
Price / sales10.0x
Price / book2.7x
EV / revenue9.6x
EV / EBITDA22.7x
Financial highlights
Revenue, last 12 months$6.3B
Net income, last 12 months$1.4B
EPS, last 12 months (GAAP)$3.78
Operating margin11.5%
Net margin21.7%
Return on equity6.2%
Return on invested capital2.8%
Cash$2.4B
Interest cover1.6x

Company figures from its latest SEC filings; market value and returns from end-of-day prices.

DLR earnings trends

Revenue vs earnings
$0$408.8M$817.6M$1.2B$1.6BJun 2024 Revenue: $1.4BSep 2024 Revenue: $1.4BDec 2024 Revenue: $1.4BMar 2025 Revenue: $1.4BJun 2025 Revenue: $1.5BSep 2025 Revenue: $1.6BDec 2025 Revenue: $1.6BMar 2026 Revenue: $1.6BJun 2024 Net income: $80.2MSep 2024 Net income: $51.2MDec 2024 Net income: $189.6MMar 2025 Net income: $110.0MJun 2025 Net income: $1.0BSep 2025 Net income: $67.8MDec 2025 Net income: $98.6MMar 2026 Net income: $179.3MJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Net margin: 5.9%Net margin: 3.6%Net margin: 13.2%Net margin: 7.8%Net margin: 69.1%Net margin: 4.3%Net margin: 6.0%Net margin: 11.0%0%35%69%■ Revenue ■ Net income ━ Net margin
Earnings per share$0.0$0.7$1.5$2.2$2.9Jun 2024 EPS (GAAP, diluted): $0.2Sep 2024 EPS (GAAP, diluted): $0.1Dec 2024 EPS (GAAP, diluted): $0.5Mar 2025 EPS (GAAP, diluted): $0.3Jun 2025 EPS (GAAP, diluted): $2.9Sep 2025 EPS (GAAP, diluted): $0.2Dec 2025 EPS (GAAP, diluted): $0.2Mar 2026 EPS (GAAP, diluted): $0.5Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026■ EPS (GAAP, diluted) Change from a year earlier: Jun 2025 +1370% · Sep 2025 +67% · Dec 2025 -55% · Mar 2026 +70%

From the company's 10-Q and 10-K filings with the SEC.

Digital Realty financials (from SEC filings)

Fiscal yearFY2021FY2022FY2023FY2024FY2025
Revenue$4.4B$4.7B$5.5B$5.6B$6.1B
Net income$1.7B$377.7M$948.8M$602.5M$1.3B
EPS (GAAP)$5.94$1.12$2.97$1.62$3.59

DLR earnings history

ReportedEPS (GAAP)EPS y/yRevenue y/yStock vs S&P 500, 2 days
2026-04-23$0.46+70%+16%-0.8%
2026-02-05$0.23-55%+14%+2.2%
2025-10-23$0.15+67%+10%+2.6%
2025-07-24$2.94+1370%+10%-1.2%
2025-04-24$0.27-67%+6%+2.6%
2025-02-13$0.51+629%+5%-0.4%

About Digital Realty

HeadquartersAustin, TX
Industry (SEC code)Real Estate Investment Trusts
Fiscal year endsDecember 31
Incorporated inMD
Listed onNYSE, NYSE, NYSE, NYSE

From the company's SEC registration record.

Companies similar to DLR

CompanyMarket valueP/ERevenue growthOperating margin12-month change
DLR Digital Realty$63.2B47.6x+13%11.5%+5%
SPG Simon Property$65.3B14.2x+15%47.4%+14%compare
AMT American Tower$75.6B22.3x+7%44.8%-11%compare
O Realty Income$50.9B39.0x+11%n/a-6%compare
PSA Public Storage$49.5B26.9x+3%n/a-0%
VTR Ventas$41.7B153.5x+21%n/a+20%
EQIX Equinix$101.0B65.9x+10%21.8%+34%

All Real Estate stock ratings

Frequently asked questions

Is DLR stock a buy?

Torvanta does not tell individuals what to buy. Its grades for DLR are shown above. Subscribers see the model's rank, expected return and whether the model portfolio holds it. This is research, not a recommendation.

What is DLR's P/E ratio?

DLR trades at about 47.6 times its last 12 months of GAAP earnings reported to the SEC, and about 34.1 times Torvanta's own estimate of the next 12 months.

When does DLR report earnings next?

Based on its filing history, Torvanta expects Digital Realty to report around 2026-10-22.

Does DLR pay a dividend?

Yes. Its dividend yield is about 2.7%.

How has DLR performed against the S&P 500?

Over the past year DLR returned +4.9%, against +17.0% for the S&P 500, dividends reinvested.

See the model's view

Subscribers get the model's rank and expected return for every covered company, the reasoning behind each, and the Torvanta model portfolio's trades each trading day, sized and explained, at three risk levels.

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Torvanta is research only - not investment advice and not a recommendation to buy or sell any security. Grades describe a company's reported data against its sector; they are not the model's view, change as data changes and can be wrong. Financial figures come from the company's SEC filings; returns include reinvested dividends. Past performance does not predict future results.

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